The sale is expected to be completed early in the second quarter, subject to the satisfaction or waiver of the remaining closing conditions in the purchase and assumption agreement.

Global Federal Credit Union (GFCU) will operate the First Financial Northwest Bank’s (FFNWB) 15 locations as a separately branded division of the credit union until the system and brand integration are completed later this year.

The transaction will expand GFCU’s business and commercial services for its member businesses as well as enhance its branch presence in western Washington, where it first began operations in the Pacific Northwest more than 40 years ago.

Established in 1923, the bank has transformed over the years from a single branch thrift to a full-service community-based commercial bank with more than 130 employees who serve approximately 13,000 customers.

“This is an exciting milestone for the members, future members and employees of our two financial institutions,” GFCU President/CEO Geoff Lundfel said in a prepared statement. “Our combined commitment to service and community, our commitment towards delivering technology-forward services, and our ability to offer expanded business and commercial financial products is going to be significantly enhanced. I’m really looking forward to showing the customers of First Financial Northwest Bank what it means to have access to the world-class service that Global members currently enjoy.”