RENTON, Wash., Feb. 26, 2013 (GLOBE NEWSWIRE) -- First Financial Northwest, Inc. (the "Company") (Nasdaq:FFNW) and the Stilwell Group announced that they have entered into a second amendment to the agreement to settle the litigation in which the Stilwell Group challenged the counting of votes in a contested director election at the Company's 2012 Annual Meeting of Shareholders.
The settlement agreement, as previously amended, provides, among other things, that Kevin D. Padrick will be seated on the Company's Board of Directors after receiving any required regulatory approvals. The second amendment simply extends the time by which required regulatory approvals for Mr. Padrick's appointment must be received. All other terms of the settlement remain the same.
First Financial Northwest, Inc. is the parent company of First Savings Bank Northwest, a Washington chartered stock savings bank headquartered in Renton, Washington, serving the Puget Sound Region through its full-service banking office. The Company is a part of the ABA NASDAQ Community Bank Index. For additional information about the Company, please visit www.fsbnw.com and click on the "Investor Relations" section.The Stilwell Group is a New York-based money management firm which currently owns approximately 9.72% of the Company's outstanding shares of common stock.
CONTACT: For more information, contact: For First Financial Northwest, Inc.: Victor Karpiak, President and Chief Executive Officer, (425) 255-4400 For The Stilwell Group: Ms. Megan Parisi, (212) 269-1551
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV