Aug 23 - First Financial Northwest Inc., Renton, Wash., (Nasdaq: FFNW), the holding company for First Savings Bank Northwest, has announced that Victor Karpiak will be retiring as president and CEO of the company and has resigned as a director of the company and as chairman of the board of the bank. In keeping with its management succession plan, the company has announced the appointment of Joseph W. Kiley III to serve as president and CEO of the company. Kiley has served as president and CEO of the bank since Sept. 17, 2012.
In addition, the company appointed Richard P. Jacobson to serve as chief operating officer and as a director of the company. Jacobson has served as chief financial officer of the company and the bank since Aug. 9, 2013. Jacobson was also appointed as a director to the bank's board of directors.
Finally, Gary F. Kohlwes, chairman of the company's board of directors, was appointed chairman of the board of the bank. All of these changes will be effective as of Sept. 1, 2013.
"On behalf of the boards of directors of the company and the bank, I want to express our sincere appreciation to Victor for the leadership and direction that he provided the company and the bank during his 36 years of dedicated service," said Kohlwes. "The management, staff and directors are very grateful for his contributions to the company and we wish him well."
First Financial Northwest Inc. is the parent company of First Savings Bank Northwest, a Washington-chartered stock savings bank headquartered in Renton serving the Puget Sound Region through its full-service banking office. We are a part of the ABA Nasdaq Community Bank Index as well as the Russell 2000 and 3000 Indices. For additional information about us, please visit its website at www.fsbnw.com and click on the "Investor Relations" section.