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Washington-based First Financial Northwest plans to buy back up to $40M in common stock

Renton, Wash.-based FirstFinancial Northwest Inc. plans to buy back up to $40.0 million in aggregatevalue of its common stock through a modified Dutch auction.

The company plans to repurchase the shares for a price between$13 and $14 per share.

The offer, which represents approximately 23.1% of First Financial'soutstanding common stock as of June 30, is set to expire Aug. 9.

Keefe Bruyette & Woods Inc. is the dealer manager and informationagent for the offer, while Breyer & Associates PC is the company's legal counseland Computershare Trust Company NA will serve as the depositary.