First Fed CEO resigns

PORT ANGELES — First Fed Bank on Wednesday announced that President and Chief Executive Officer Matthew P. Deines have "mutually agreed" to his resignation effective Saturday according to a press release on the company's website.

"I could not be more honored to have led First Fed and First Northwest as CEO over the past six years," said Deines in the release.

"This Company is made up of a very special group of people who serve Western Washington at a time when the role of community banks has never been more essential."

Chief Operating Officer Geraldine L. Bullard has been appointed Interim CEO effective as Sunday and will continue to serve as COO until a new CEO is appointed. First Fed's board of directors has already engaged an executive search firm to start that process.

"The Board extends its sincere thanks to Matt for his dedicated service and commitment to the Company," said Cindy H. Finnie, chair of the boards of directors of First Northwest and First Fed.

Deines was elected president and CEO of Port Angeles-based First Federal Savings & Loan on Aug. 1, 2019. He previously held leadership roles at Liberty Bay Bank and Sound Community Bank.

First Fed Bank is a wholly owned subsidiary of First Northwest Bancorp.

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Reporter Paula Hunt can be reached by email at paula.hunt@peninsuladailynews.com