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