First Fed invests in strategic partnership with Meriwether Group
First Fed invests in strategic partnership with Meriwether Group
PORT ANGELES, Washington, July 7, 2022 (GLOBE NEWSWIRE) – First Northwest Bancorp (FNWB), the parent company of First Fed Bank, announced a strategic investment in Meriwether Group, a company that offers accelerator, finance and family office services.
“First Fed and the Meriwether Partnership position us to function as a modern commercial bank, providing support to high-growth entrepreneurs and business opportunities,” said Matt Deines, CEO of FNWB and First Fed.
The equity investment formalizes a partnership that has developed in recent years. First Fed and Meriwether Group have partnered to serve a number of business customers, including BILLY Footwear, Tutta Bella and Seattle Sun Tan.
“Since its inception, we have sought to align our practices with like-minded partners who understand the entrepreneur’s journey,” said David Howitt, founder and CEO of Meriwether Group. “First Fed shares our philosophy of expanding access to capital, and we give them our focus on authentic, disruptive and iconic consumer brands. The partnership further positions Meriwether Group to offer the tools and services that growing companies need from start to finish. ”
“The combined strengths of First Fed and Meriwether Group enhance our ability to help iconic brands through their journey. I’m happy to help our clients grow and prosper by providing access to a variety of capital and debt instruments like no other bank. can offer for these mid-market companies, ”added Jason Gill, Senior Commercial Relationship Manager at First Fed.
Earlier this year, Meriwether Group and First Fed became two of the three general partners in Meriwether Group Capital (MWGC), which focuses on lending that falls outside traditional banks. MWGC has distributed $ 6.5 million since its launch in April 2022.
Meriwether Group is a trusted consulting and business acceleration company serving entrepreneurs of iconic, authentic and intrusive consumer brands. Founded in 2004, Meriwether Group has provided accelerator and investment banking services to companies including Stumptown Coffee, Pendleton Woolen Mills, Airstream, Handel’s Ice Cream, Voodoo Donuts, Dave’s Killer Bread, West Elm, MAC Cosmetics and dozens of other well-known brands.
First Fed has been recognized by the Puget Sound Business Journal as a “mid-market fixed 50”, best workplace and top corporate philanthropist in 2022. The Social Bank also received a best-in-state bank award from Forbes in 2021. First Fed will celebrate its centenary in 2023 in Port Angeles, Washington.
Consult:
Matthew P. Deines
President and CEO
360-457-0461
About FNWB
First Northwest Bancorp (Nasdaq: FNWB) is a banking holding company that engages in investment activities including the business activities of its subsidiary First Fed Bank. First Fed is a community-oriented financial institution that has served customers and communities since 1923. First Fed currently has 16 locations in Washington state, including 12 full-service branches. First Fed’s business and operations strategy is focused on building sustainable earnings by delivering a full range of financial products and services to individuals, small businesses and commercial customers. In addition, First Fed focuses on strategic partnerships with financial technology companies (“fintech”) to develop and distribute digitally focused financial solutions to meet customer needs on a broader scale. FNWB also invests in fintech companies directly as well as through selected venture capital partners. Fintech partnerships include bank-as-a-service, digital payments and marketplace lending. FNWB was incorporated in 2012 and is headquartered in Port Angeles, Washington. First Fed is a member of the FDIC and similar to a home lender.
About Meriwether Group
Meriwether Group is a private lender, investment banking and business acceleration firm serving entrepreneurs of iconic, disruptive consumer brands. The firm consists of a complementary team of skilled entrepreneurs, business leaders, financiers and lawyers. Meriwether Group’s team uses a unique and effective methodology to accelerate desired results for companies and their managers in a brand-centric way. Motivated by its mission to help entrepreneurs fulfill their journey, the company uses this ethos across a set of business units that represent a continuum of an entrepreneur’s journey, including launch, growth, financing and exits. Founded in 2004, Meriwether Group has offices in the Slabtown area of NW Portland and in Marin County, north of San Francisco. It can be found online at meriwethergroup.com.
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