First Northern Bank

First Northern Community Bancorp Reports First Quarter 2024 Net Income of $4.3 Million

Retrieved on:

Tuesday, April 30, 2024

Public Relations, Investor Relations, Business, Banking, Communications, Professional Services, Sale, First Northern Bank, OTCQX, Acquisition, Growth, Cryptocurrency

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.

Key Points:

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.
On an after-tax basis, the bargain purchase gain contributed $1.0 million to net income for the three months ended March 31, 2023, or $0.07 per share.
Total assets as of March 31, 2024, were $1.89 billion, a decrease of $16.2 million, or 0.9%, compared to March 31, 2023.
Total net loans (including loans held-for-sale) as of March 31, 2024, were $1.05 billion, an increase of $72.7 million, or 7.5%, compared to total net loans (including loans held-for-sale) of $974.6 million as of March 31, 2023.

First Northern Bank Promotes Human Resources Director to Chief Human Resources Officer

Retrieved on:

Tuesday, April 16, 2024

First Northern Bank (OTCQX: FNRN), the region’s #1 local small business lender, proudly announces the promotion of Libby Feyh to the newly created role of Executive Vice President and Chief Human Resources Officer (CHRO).

Key Points:

First Northern Bank (OTCQX: FNRN), the region’s #1 local small business lender, proudly announces the promotion of Libby Feyh to the newly created role of Executive Vice President and Chief Human Resources Officer (CHRO).
View the full release here: https://www.businesswire.com/news/home/20240416874771/en/
Libby Feyh, Chief Human Resources Officer (Photo: Business Wire)
Feyh has served First Northern Bank as the Senior Vice President and Human Resources Director since 2019, demonstrating exceptional leadership, promoting a culture of excellence, and a deep understanding of the Bank’s values.
Feyh brings more than 25 years of human resource leadership experience to First Northern Bank.
She has a proven record of success in developing and implementing human resources initiatives across retail and financial services.

First Northern Bank Hires Seasoned Banker as Chief Credit Officer

Retrieved on:

Thursday, April 4, 2024

Banking, Professional Services, Finance, California State University, First Northern Bank, Senior, Multimedia, Bank, Risk management, Growth, OTCQX, Rabobank, Small business, Management

First Northern Bank (OTCQX: FNRN), the region’s #1 local small business lender, proudly announces the appointment of Brett Hamilton as its new Executive Vice President and Chief Credit Officer.

Key Points:

First Northern Bank (OTCQX: FNRN), the region’s #1 local small business lender, proudly announces the appointment of Brett Hamilton as its new Executive Vice President and Chief Credit Officer.
Retiring Chief Credit Officer, Joe Danelson, will serve as Executive Vice President until April 5, 2024, to ensure a smooth transition and continuity of operations.
View the full release here: https://www.businesswire.com/news/home/20240403796876/en/
Brett Hamilton, Executive Vice President and Chief Credit Officer (Photo: Business Wire)
With more than 25 years of experience in the banking industry, Hamilton brings a vast background and expertise in credit risk strategies, portfolio management, and regulatory relations.
As the Chief Credit Officer, he will oversee the quality and diversity of the credit portfolio, and have responsibility for ensuring compliance with regulatory requirements, and optimizing risk management practices at the Bank.

First Northern Community Bancorp Announces Stock Repurchase Program

Retrieved on:

Thursday, March 28, 2024

Banking, Professional Services, Finance, First Northern Bank, Corporation, Rule, Security (finance)

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.

Key Points:

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.
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).
The stock repurchase program is intended to provide management with an effective mechanism for capital management, increase return on equity to the Corporation’s existing shareholders and provide additional market liquidity for common shares outstanding.

First Northern Community Bancorp Reports Record Year End 2023 Net Income of $21.6 Million

Retrieved on:

Tuesday, January 30, 2024

Public Relations, Investor Relations, Business, Banking, Communications, Professional Services, OTCQX, Growth, Environment, First Northern Bank, Acquisition, Sale

On an after-tax basis, the bargain purchase gain contributed $1.0 million to net income for the year ended December 31, 2023.

Key Points:

On an after-tax basis, the bargain purchase gain contributed $1.0 million to net income for the year ended December 31, 2023.
Net income for the quarter ended December 31, 2023 totaled $6.9 million, or $0.45 per diluted share, compared to net income of $4.7 million, or $0.31 per diluted share, for the quarter ended December 31, 2022.
This resulted in record net interest income of $66.5 million for the year, an increase of $11.8 million, or 21.7%, compared to the previous year’s $54.7 million.
The Company ended the year with a record $21.6 million of net income, an increase of 35.7% over the $15.9 million earned in 2022.

Elan Charitable Giving Program Expands to 30 Communities with $375,000 in Donations

Retrieved on:

Wednesday, January 24, 2024

The Elan Charitable Giving program today announced $375,000 in donations across 30 communities.

Key Points:

The Elan Charitable Giving program today announced $375,000 in donations across 30 communities.
Each $12,500 gift was given to a charity selected by an Elan Credit Card partner.
Elan employees have also volunteered 225 hours of their time to further the impact of these gifts.
To learn more about each organization, credit union, community bank, and the impact Elan is making in communities through its charitable giving initiative, visit www.elancharitablegiving.com .

OTC Markets Group Welcomes First Northern Community Bancorp to OTCQX

Retrieved on:

Tuesday, December 19, 2023

First Northern Bank, OTCQX, Security (finance)

NEW YORK, Dec. 19, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced First Northern Community Bancorp (OTCQX: FNRN), the single-bank holding company for First Northern Bank, has qualified to trade on the OTCQX® Best Market.

Key Points:

NEW YORK, Dec. 19, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced First Northern Community Bancorp (OTCQX: FNRN), the single-bank holding company for First Northern Bank, has qualified to trade on the OTCQX® Best Market.
First Northern Community Bancorp upgraded to OTCQX from the OTCQB® Venture Market.
First Northern Community Bancorp begins trading today on OTCQX under the symbol “FNRN.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com .
Graduating to the OTCQX Market marks an important milestone for community banks in the U.S. public markets.

First Northern Community Bancorp Announces Intention to Trade Stock on the OTCQX Best Market

Retrieved on:

Monday, December 18, 2023

Banking, Professional Services, Finance, OTCQX, First Northern Bank, OTCQB, Financial adviser

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”).

Key Points:

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.
Graduating to the OTCQX marks an important milestone for the Company, as it provides more transparent trading and improved access to company information for shareholders.
To qualify for the OTCQX, companies must meet enhanced financial disclosure standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

T. Joe Danelson, Executive Vice President/Chief Credit Officer, Retiring March 31, 2024

Retrieved on:

Monday, October 30, 2023

Small Business, Banking, Professional Services, Finance, Credit, Adventure, First Northern Bank, Bank, Executive, McDermott, Management, Financial services

Jeremiah Z. Smith, President & Chief Executive Officer of First Northern Bank, today announced that T. “Joe” Danelson, 65, is retiring as Executive Vice President/Chief Credit Officer effective March 31, 2024.

Key Points:

Jeremiah Z. Smith, President & Chief Executive Officer of First Northern Bank, today announced that T. “Joe” Danelson, 65, is retiring as Executive Vice President/Chief Credit Officer effective March 31, 2024.
Joe has had a distinguished 42-year banking career working for both large and small banks.
In the 10 years Joe has been with the Bank, he has transformed the credit culture to help First Northern reach even new heights.
We wish Joe nothing but the best in the future and thank him for his service to the Bank.

First Northern Community Bancorp Reports Third Quarter 2023 Net Income of $4.6 Million

Retrieved on:

Friday, October 27, 2023

Small Business, Banking, Professional Services, Finance, First Northern Bank, Growth, Greater Community Bancorp, Sale, Acquisition, OTCQB, Cryptocurrency, Bank

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.

Key Points:

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.
Net income for the quarter ended September 30, 2023 was $4.6 million, or $0.32 per diluted share, compared to net income of $4.6 million, or $0.31 per diluted share, for the quarter ended September 30, 2022.