Market Overview

First Northern Community Bancorp Reports Second Quarter 2016 Earnings


First Northern Community Bancorp (the "Company," ticker symbol FNRN: OTCQB), holding company for First Northern Bank ("First Northern" or the "Bank"), today announced earnings through the second quarter of 2016. Louise Walker, President and Chief Executive Officer, stated, "The Company reported year-to-date net income of $3.8 million for the six months ended June 30, 2016, up 15.2% compared to net income of $3.3 million reported for the same period last year. Diluted earnings per share for the six months ended June 30, 2016 was $0.35, up 16.7% compared to diluted earnings per share of $0.30 for the same period last year."

Net income for the quarter ended June 30, 2016 was $2.0 million, up 11.1% compared to net income of $1.8 million reported for the same period last year. Diluted earnings per share for the three months ended June 30, 2016 was $0.19, up 18.8% compared to diluted earnings per share of $0.16 for the same period last year.

Total assets at June 30, 2016 were $1.07 billion, an increase of $68.0 million, or 6.8%, compared to June 30, 2015. Total deposits of $969.9 million increased $71.5 million, or 8.0%, compared to June 30, 2015. During the same period, total net loans (including loans held-for-sale) increased $64.6 million, or 11.3%, to $635.6 million. The Company continues to be "well capitalized" under regulatory definitions, exceeding the 10% threshold at June 30, 2016.

Further commenting on the Company's financial results, Walker stated, "Our earnings for the second quarter and first six months of 2016 resulted from several positive trends. Despite intense competition, our bankers continue to expand existing and source new client relationships. We continue to experience double-digit loan growth, which leads to solid increases in interest income, and healthy increases in low cost deposits are a result of our new customer relationships. Our asset quality remains strong with Non-performing Assets to Total Assets declining to 0.1% at quarter end. Additionally, management has maintained a strong focus on expense control resulting in continued improvement in our operating leverage."

First Northern Bank is an independent community bank that specializes in relationship banking. The Bank, headquartered in Solano County since 1910, serves Solano, Yolo, Sacramento, Placer, Contra Costa County and the west slope of El Dorado County. Experts are available in small-business, commercial, real estate and agribusiness lending, as well as mortgage loans. The Bank is an SBA Preferred Lender. Non-FDIC insured Investment and Brokerage Services are available at every branch location, including Dixon, Davis, West Sacramento, Fairfield, Vacaville, Winters, Woodland, Sacramento, Roseville and Auburn. The Bank has a full-service Trust Department in Sacramento and a commercial lending office in Walnut Creek. Real estate mortgage and small-business loan officers are available by appointment in any of the Bank's branches. First Northern is rated as a Veribanc "Blue Ribbon" Bank for the earnings period of Dec. 31, 2015 ( The Bank can be found on the Web at, on Facebook and on LinkedIn.

Forward-Looking Statements

This press release may include certain "forward-looking statements" about First Northern Community Bancorp and its subsidiaries (the "Company"). These forward-looking statements are based on management's current expectations and are subject to certain risks, uncertainties and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. More detailed information about these risk factors is contained in the Company's most recent reports filed with the Securities and Exchange Commission on Forms 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's most recent reports on Form 10-K and Form 10-Q, and any reports on Form 8-K. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made. For further information regarding the Company, please read the Company's reports filed with the SEC and available at

First Northern Community Bancorp & First Northern Bank
Louise A. Walker, 707-678-3041
President & Chief Executive Officer

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