Levi & Korsinsky notifies investors that it has commenced an investigation into First Northwest Bancorp (NASDAQ: FNWB) concerning potential violations of the federal securities laws.
On October 25, 2024, FNWB announced that its previously reported financial results for the second quarter of 2024 could no longer be relied upon due to an additional $6.6 million in charge-offs and a higher provision for consumer loans. As a result, the company restated its total provision for credit losses on loans to $8.7 million. FNWB also revealed that a material weakness existed in its internal controls over financial reporting as of June 30, 2024. Following this news, FNWB’s stock price dropped over 2% on October 28, 2024.
If you suffered a loss on your First Northwest Bancorp securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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