First Financial Northwest Bank to open Bothell branch

  • Wednesday, April 12, 2017 10:53am
  • Business

The holding company for First Financial Northwest Bank has received regulatory approval to open new branches in Bothell and the Crossroads area of Bellevue.

The Bothell branch will be in downtown at The Junction adjacent to the McMenamins Anderson School. The branch at 18505 Bothell Way NE is expected to open during the fourth quarter of this year.

The Bellevue branch, at 15600 NE Eighth St., is expected to open in this current quarter.

First Financial also announced it is acquiring four more retail locations in Snohomish and King counties with $102 million in deposits. The bank is not acquiring any loans as part of the deal.

First Financial is not releasing information about the locations of these retail branches. One branch property is owned and the other three are leased, with the bank assuming the leases.

The transaction is expected to close in the third quarter of this year.

First Financial is implementing a strategy to expand the number of its branches, according to a filing with the U.S. Securities and Exchange Commission.

The bank is headquartered in Renton and has a smaller branch in that city. The bank also opened a branch in Mill Creek in 2015 and another in Edmonds in 2016.

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