Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Not applicable.
+Added: On September 2, 2022, First Northwest Bancorp (the “Company”) issued 115,777 shares of the Company’s common stock in the second closing under a Membership Interest Purchase Agreement dated June 30, 2022, as amended effective September 2, 2022, among the Company and the individual members of The Meriwether Group LLC (“Meriwether”).
+Added: The shares had a total value of approximately $1,869,321 at the time of issuance and were issued to the individual members of Meriwether as partial consideration for the Company’s purchase of a portion of their limited liability company interests in Meriwether.
+Added: In exchange for the 115,777 shares of the Company’s common stock, together with approximately $458,410 in cash, the Company received limited liability company interests totaling 28.33% of the percentage interests in Meriwether, bringing the Company’s total percentage interest in Meriwether to 33.33%.
+Added: The shares were issued in reliance on the exemption from registration provided in Section 4(a)(2) of the Securities Act of 1933, as amended.
Not applicable.
−Removed: The following table summarizes common stock repurchases during the three months ended June 30, 2022:
+Added: The following table summarizes common stock repurchases during the three months ended September 30, 2022:
Total Number of Shares Purchased (1)
2 unchanged sentences
Maximum Number of Shares that May Yet Be Repurchased Under the Plans
−Removed: April 1, 2022 - April 30, 2022
−Removed: May 1, 2022 - May 31, 2022
−Removed: June 1, 2022 - June 30, 2022
+Added: July 1, 2022 - July 31, 2022
+Added: August 1, 2022 - August 31, 2022
+Added: September 1, 2022 - September 30, 2022
(1) Shares repurchased by the Company during the quarter include shares acquired from participants in connection with cancellation of restricted stock to pay withholding taxes totaling 3,808 shares, 604 shares, and 1,092 shares, respectively, for the periods indicated.
(2) On October 28, 2020, the Company announced that its Board of Directors had authorized the repurchase of up to an additional 1,023,420 shares of its common stock, or approximately 10% of its shares of common stock issued and outstanding as of October 27, 2020.
−Removed: As of June 30, 2022, a total of 417,668 shares, or 40.8% percent of the shares authorized in the October 2020 stock repurchase plan, have been purchased at an average cost of $16.96 per share, leaving 605,752 shares available for future purchases.
+Added: As of September 30, 2022, a total of 496,722 shares, or 48.5% percent of the shares authorized in the October 2020 stock repurchase plan, have been purchased at an average cost of $16.83 per share, leaving 526,698 shares available for future purchases.
Defaults Upon Senior Securities
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.