Articles from First Northern Community Bancorp

First Northern Community Bancorp (OTCQX: FNRN), the holding company of First Northern Bank, is pleased to announce that Richard A. Bedoya has joined its Board of Directors of both the Bank and holding company, effective July 17, 2025. Mr. Bedoya will also serve on the Bank’s Audit, Asset/Liability, and Directors Loan Committees. He succeeds Foy McNaughton, who retired from the Board on July 20, 2025, upon reaching First Northern’s mandatory retirement age for directors. Mr. McNaughton served with distinction for 25 years.

First Northern Community Bancorp (the “Company”, OTCQX: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $3.7 million, or $0.23 per diluted share, for the three months ended March 31, 2025, down 14.2% compared to net income of $4.3 million, or $0.26 per diluted share, for the three months ended March 31, 2024.

First Northern Community Bancorp (the “Company”, OTCQX: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported 2024 annual net income of $20.0 million, or $1.24 per diluted share, a decrease of 7.5% when compared to net income of $21.6 million or $1.34 per diluted share for 2023. Net income for the year ended December 31, 2023 included the bargain purchase gain resulting from the Bank’s acquisition of three branches. On an after-tax basis, the bargain purchase gain contributed $1.0 million to net income for the year ended December 31, 2023.

First Northern Community Bancorp (the “Company”, OTCQX: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $14.2 million, or $0.92 per diluted share, for the nine months ended September 30, 2024, down 3.3% compared to net income of $14.7 million, or $0.96 per diluted share, for the nine months ended September 30, 2023.

First Northern Community Bancorp (the “Company”, OTCQX: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $8.7 million, or $0.57 per diluted share, for the six months ended June 30, 2024, down 13.5% compared to net income of $10.1 million, or $0.66 per diluted share, for the six months ended June 30, 2023.

First Northern Community Bancorp (OTCQX: FNRN), holding company for First Northern Bank, announced that Sean Quinn was elected to a three-year term as Chairman and Rick Martinez was elected to a one-year term as Vice Chairman at its recent 2024 Organization Meeting of the Board of Directors. Together, Quinn and Martinez bring over 20 years of First Northern directorship experience to their leadership positions.

First Northern Community Bancorp (the “Company”, OTCQX: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $4.3 million, or $0.28 per diluted share, for the three months ended March 31, 2024, down 22.1% compared to net income of $5.5 million, or $0.36 per diluted share, for the three months ended March 31, 2023.

The Board of Directors of First Northern Community Bancorp (FNRN), holding company of First Northern Bank, has announced a stock repurchase program for the Company’s outstanding common stock. Based on market conditions, share repurchases may be made from time to time in the open market or in privately negotiated transactions. The repurchase program will begin May 1, 2024, and will remain in effect until April 30, 2026, unless terminated sooner. The program allows repurchases in an aggregate amount of no more than 6% of First Northern Community Bancorp’s 15,550,731 outstanding shares of common stock as of March 21, 2024 (which includes the stock dividend that was paid on March 25, 2024). This represents total shares of 933,043 eligible for repurchase which, at the closing price of $9.00 on March 21, 2024, would equate to total consideration of approximately $8.4M if all eligible shares were repurchased. The Board of Directors has determined that the maximum aggregate repurchases will not impair the capital of the Corporation. Any repurchases are intended to be conducted in accordance with the limitations, guidelines, and restrictions relative to timing, price, manner, and volume of Rule 10b-18 promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended.

First Northern Community Bancorp (the “Company”, OTCQX: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported 2023 annual net income of $21.6 million, or $1.41 per diluted share, increases of 35.7% and 35.6%, respectively, when compared to net income of $15.9 million, or $1.04 per diluted share, for 2022. Net income for the year included the bargain purchase gain resulting from our branch acquisition completed in the first quarter of 2023. On an after-tax basis, the bargain purchase gain contributed $1.0 million to net income for the year ended December 31, 2023.

First Northern Community Bancorp (the “Company”, OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported its intention to upgrade the Company’s stock trading platform from the OTCQB® Venture Market to the OTCQX® Best Market (“OTCQX”). It is anticipated that the transition will become effective on or about December 19, 2023.

First Northern Community Bancorp (the “Company”, OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $14.7 million, or $1.01 per diluted share, for the nine months ended September 30, 2023, up 31.5% compared to net income of $11.2 million, or $0.77 per diluted share, for the nine months ended September 30, 2022. Net income for the year includes the bargain purchase gain resulting from our acquisition completed in the first quarter of 2023. On an after-tax basis, the bargain purchase gain contributed $1.0 million to net income for the nine months ended September 30, 2023.

First Northern Community Bancorp (the “Company”) (OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $10.1 million, or $0.69 per diluted share, for the six months ended June 30, 2023, up 52.6% compared to net income of $6.6 million, or $0.45 per diluted share, for the six months ended June 30, 2022. Net income for the year includes the bargain purchase gain resulting from our acquisition completed in the first quarter of 2023. On an after-tax basis, the bargain gain contributed $1.0 million to net income for the six months ended June 30, 2023.

First Northern Community Bancorp (the “Company”, OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported record net income of $5.5 million, or $0.38 per diluted share, for the three months ended March 31, 2023, up 80.5% compared to net income of $3.0 million, or $0.21 per diluted share, for the three months ended March 31, 2022.

First Northern Community Bancorp (the “Company”, OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported 2022 annual net income of $15.9 million, or $1.09 per diluted share, increases of 12% and 14.7%, respectively, when compared to net income of $14.2 million, or $.95 per diluted share, for 2021. Net income for the quarter ended December 31, 2022 totaled $4.7 million, or $.33 per diluted share, compared to net income of $3.2 million, or $.22 per diluted share, for the quarter ended December 31, 2021.

First Northern Community Bancorp (the “Company”, OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today announced that its acquisition of three Columbia State Bank (“Columbia Bank”) branches in Orland, Willows, and Colusa, California, has been successfully completed.

First Northern Community Bancorp (the “Company”, OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $11.2 million, or $0.80 per diluted share, for the nine months ended September 30, 2022, up 1.5% compared to net income of $11.0 million, or $0.77 per diluted share, for the nine months ended September 30, 2021.

First Northern Community Bancorp (the “Company”, OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $6.6 million, or $0.48 per diluted share, for the six months ended June 30, 2022, up 1.6% compared to net income of $6.5 million, or $0.45 per diluted share, for the six months ended June 30, 2021.

First Northern Community Bancorp (OTCQB: FNRN), holding company for First Northern Bank, announced that Patrick R. Brady was elected to a two-year term as Chairman and John M. Carbahal was elected to a one-year term as Vice Chairman at its recent 2022 Organization Meeting of the Board of Directors. Together, Brady and Carbahal bring over 35 years of First Northern directorship experience to their leadership positions.

Louise Walker, Chief Executive Officer of First Northern Bank and First Northern Community Bancorp (OTCQB: FNRN), has formally announced her retirement, effective December 31, 2022. With unanimous support of the Board, Ms. Walker announced today that Jeremiah Smith, currently Senior Executive Vice President and Chief Operating Officer, will be promoted to President and Chief Executive Officer of the Company and the Bank effective January 1, 2023, as her successor. Ms. Walker will remain on the boards of the Company and the Bank; upon succeeding to the position of President and Chief Executive Officer, Mr. Smith will join both Boards as a director.

First Northern Community Bancorp (the “Company”, OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $3.0 million, or $0.22 per diluted share, for the three months ended March 31, 2022, down 4.3% compared to net income of $3.2 million, or $0.22 per diluted share, for the three months ended March 31, 2021.

First Northern Community Bancorp (the “Company”, OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported year ended 2021 net income of $14.2 million, or $1.00 per diluted share, up 16.7% compared to net income of $12.2 million, or $0.85 per diluted share, for the year ended 2020. Net income for the quarter ended December 31, 2021 totaled $3.2 million, or $0.23 per diluted share, compared to net income of $3.4 million, or $0.23 per diluted share, for the quarter ended December 31, 2020.

First Northern Community Bancorp (the “Company”, OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $11.0 million, or $0.81 per diluted share, for the nine months ended September 30, 2021, up 24.8% compared to net income of $8.8 million, or $0.65 per diluted share, for the nine months ended September 30, 2020.

First Northern Community Bancorp (the “Company,” OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $6.5 million, or $0.47 per diluted share, for the six months ended June 30, 2021, up 20.4% compared to net income of $5.4 million, or $0.40 per diluted share, for the six months ended June 30, 2020.

The Board of Directors of First Northern Community Bancorp (FNRN), holding company of First Northern Bank, has announced a stock repurchase program for the Company’s outstanding common stock. Based on market conditions, share repurchases may be made from time to time in the open market or in privately negotiated transactions. The repurchase program will begin June 15, 2021 and will remain in effect until June 14, 2023. The program allows repurchases in an aggregate amount of no more than 4% of First Northern Community Bancorp’s 13,680,085 outstanding shares of common stock as of March 31, 2021. This represents total shares of 547,203 eligible for repurchase which, at the closing price of $11.35 on June 2, 2021, would equate to total consideration of approximately $6.2M if all eligible shares were repurchased. The Board of Directors has determined that the maximum aggregate repurchases will not impair the capital of the Corporation. Any repurchases are intended to be conducted in accordance with the limitations, guidelines, and restrictions relative to timing, price, manner, and volume of Rule 10b-18 promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended.

First Northern Community Bancorp (OTCQB:FNRN), holding company for First Northern Bank, announced that at the May 18, 2021 Organization Meeting of the Board of Directors of First Northern Community Bancorp and First Northern Bank, Patrick R. Brady was elected to a one-year term as Vice Chairman of the 10-member Board. He joins Chairman, Richard M. Martinez whose three-year term was extended an additional year. Together they represent 18 years of combined directorship experience with First Northern.

First Northern Community Bancorp (the “Company”, OTCQB: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $3.2 million, or $0.23 per diluted share, for the three months ended March 31, 2021, up 18.6% compared to net income of $2.7 million, or $0.20 per diluted share, for the three months ended March 31, 2020.