First Financial Northwest, Inc. Announces Appointment Of Richard M. Riccobono As A New Director

RENTON, Wash., Nov. 18, 2016 (GLOBE NEWSWIRE) -- First Financial Northwest, Inc. ("Company") (NASDAQ:FFNW), the holding company for First Financial Northwest Bank ("Bank"), announced today that Mr. Richard M. Riccobono has been appointed to the Boards of Directors of the Company and the Bank.  In addition, Mr. Riccobono has also been appointed to the Board of Directors of the Company's non-financial institution subsidiary, First Financial Diversified Corporation ("FFD").

The Company's Nominating and Corporate Governance Committee proposed, and the Board of Directors ratified and approved, the appointment of Mr. Riccobono to the Board of Directors.  The appointment of Mr. Riccobono to the Company's Board of Directors is effective November 17, 2016.

"We are pleased to welcome Mr. Riccobono to our Boards of Directors," said Joseph W. Kiley III, President and Chief Executive Officer.  "His expansive banking and regulatory background combined with his legal and accounting experience will be a great asset to the Company, the Bank, and FFD."

Mr. Riccobono has over 31 years of experience in the financial services industry and will bring a solid understanding of banking, regulatory, legislative, accounting, and legal expertise to the Board to support his contributions as a director.  Formerly President and Chief Executive Officer of the Federal Home Loan Bank of Seattle and the Deputy Director of the Office of Thrift Supervision, U.S. Department of the Treasury, he most recently served as the Director of Banks for the Washington State Department of Financial Institutions.  As the Director of Banks, Mr. Riccobono served under the current and former Governor of the State of Washington taking responsibility for the regulation of all Washington state-chartered banks and trust companies at the height of the financial crisis.  Mr. Riccobono began his career in public accounting with Touche, Ross and Company (now Deloitte Touche Tohmatsu Limited).  He currently serves as a director of the Pacific Coast Banking School and previously served on the boards of the Pentegra Defined Benefit Plan for Financial Institutions, White Plains, New York, and the Albers School of Business and Economics at Seattle University, Seattle, Washington.  Mr. Riccobono holds a Juris Doctorate degree from the Western New England School of Law in Springfield, Massachusetts, and a Bachelor's of Science degree from the State University of New York at Albany.  He is a member of the Georgia Bar Association, Texas Bar Association and is a Certified Public Accountant. 

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