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First Financial Northwest Extends Period to Confirm New Director

First Financial Northwest (FFNW) in Renton, Wash., has extended a deadline for obtaining regulatory approval for a dissident investor's board nominee.

Stilwell Group in New York had tapped Kevin Padrick, senior principal at Obsidian Finance Group in Lake Oswego, Ore., as its nominee to the board of the $943 million-asset First Financial. The nomination was part of a legal settlement reached between Stilwell and the Renton, Wash.-based thrift last year. Padrick had replaced Stilwell's original board nominee.

The amended legal settlement only "extends the time by which required regulatory approvals" must be received, the company said in a press release. No other changes were made.




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