Market Overview

First Northern Community Bancorp Reports First Quarter 2017 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 first quarter of 2017.
Louise Walker, President and Chief Executive Officer, stated, "The
Company reported net income of $2.5 million for the three months ended
March 31, 2017, up 47.1% compared to net income of $1.7 million reported
for the same period last year. These results include a pre-tax gain of
$1.2 million related to the sale-leaseback of land and building that is
partially occupied by our Auburn Branch. Diluted earnings per share for
the three months ended March 31, 2017 was $0.22, up 37.5% compared to
diluted earnings per share of $0.16 for the same period last year."

Total assets at March 31, 2017 were $1.17 billion, an increase of $110.6
million, or 10.5%, compared to March 31, 2016. Total deposits of $1.06
billion increased $101.8 million, or 10.6%, compared to March 31, 2016.
During the same period, total net loans (including loans held-for-sale)
increased $34.5 million, or 5.6%, to $654.7 million. The Company
continued to be "well capitalized" under regulatory definitions,
exceeding the 10% total risk-based capital ratio threshold at March 31,

Further commenting on the Company's financial results, Walker stated,
"We are very pleased with our first quarter financial results. This
strong start to the year, particularly in the commercial and mortgage
loan portfolios, as well as the Wealth Management Division, generated
increases in interest income and non-interest income for the Company. We
believe the Company-wide emphasis we have placed on clearly articulating
First Northern Bank's competitive advantages has increased new and
existing customers' awareness of why they should choose to do business
with us. Our Company's differentiators are critical in the highly
competitive financial services landscape in which we operate."

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, and Contra Costa County,
as well as 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 10 branches.
First Northern is rated as a Veribanc "Blue Ribbon" Bank for the
earnings period ended December 31, 2016 (
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, including but not limited to statements about
market conditions and current expectations about strategic focus and
competitive advantages, 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

View Comments and Join the Discussion!