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First Northern Community Bancorp Reports Second Quarter 2025 Net Income of $5.5 Million

DIXON, Calif.--(BUSINESS WIRE)-- First Northern Community Bancorp (the 鈥淐ompany鈥�, OTCQX: FNRN), holding company for First Northern Bank (鈥淔irst Northern鈥� or the 鈥淏ank鈥�), today reported net income of $9.1 million, or $0.58 per diluted share, for the six months ended June 30, 2025, up 5.0% compared to net income of $8.7 million, or $0.54 per diluted share, for the six months ended June 30, 2024.

Net income for the quarter ended June 30, 2025, was $5.5 million, or $0.35 per diluted share, up 23.6% compared to net income of $4.4 million, or $0.27 per diluted share, for the quarter ended June 30, 2024.

Total assets as of June 30, 2025, were $1.87 billion, a decrease of $16.0 million, or 0.9%, compared to June 30, 2024. Total net loans (including loans held-for-sale) as of June 30, 2025, were $1.06 billion, an increase of $14.1 million, or 1.3%, compared to total net loans (including loans held-for-sale) of $1.05 billion as of June 30, 2024. The increase in net loans was primarily driven by growth in commercial loans, which was partially offset by net reductions in commercial real estate, agricultural, and residential mortgage loans. Total deposits as of June 30, 2025, were $1.66 billion, a decrease of $43.8 million, or 2.6%, compared to June 30, 2024.

The Company continued to be 鈥渨ell capitalized鈥� under regulatory definitions, exceeding the 10% total risk-based capital ratio threshold as of June 30, 2025.

Commenting on the Company鈥檚 second quarter financial results, First Northern Bank鈥檚 President & Chief Executive Officer, Jeremiah Z. Smith, stated, 鈥淲e are pleased to report strong second quarter results, with net income increasing by 23.6% compared to the same quarter last year. Our net margin expanded to 3.85%, an increase of 19 basis points from 3.66%, driving a $1.0 million, or 6.1%, increase in net interest income when compared to the year prior. This improvement was due to higher yields on our loan and securities portfolios, along with disciplined deposit pricing that kept interest-bearing liability costs nearly flat during the quarter. We recorded no provision for credit losses in the quarter, due to the release of a $2.8 million specific reserve initially recorded during the first quarter of 2025. The release of specific provision was offset by an increase in pooled and unfunded reserves tied to loan growth and changes in economic forecasts.鈥�

Commenting further, President & CEO Smith stated: 鈥淲e remain committed to improving shareholder value. During the first two quarters of the year, we repurchased 215,883 shares for total consideration of $2.2 million. Shareholders鈥� equity improved from $187.8 million on March 31, 2025, to $194.9 million on June 30, 2025 - an increase of $7.1 million, or 3.8%, primarily driven by net income of $5.5 million and a $2.3 million improvement in accumulated other comprehensive loss for the quarter. As a result, book value per share increased $0.51 to $12.32 as of June 30, 2025, up 4.3% compared to March 31, 2025.鈥�

SECOND QUARTER HIGHLIGHTS (UNAUDITED)

Performance and operating highlights for the Company for the periods noted below included the following:

Summary Results (Unaudited)

The following is a summary of the components of the Company鈥檚 operating results for the periods indicated:

Balance Sheet Summary (Unaudited)

Net Interest Income and Net Interest Margin (Unaudited)

The following table shows the components of net interest income and net interest margin for the quarterly periods indicated:

(1) For disclosure purposes, yield/rates are annualized by dividing the number of days in the reported period by 365.

About First Northern Bank

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, Colusa, and Glenn counties, 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. AG真人官方 estate mortgage and small-business loan officers are available by appointment at any of the Bank鈥檚 14 branches, including Dixon, Davis, West Sacramento, Fairfield, Vacaville, Winters, Woodland, Sacramento, Roseville, Auburn, Rancho Cordova, Colusa, Willows, and Orland. Non-FDIC insured Investment and Brokerage Services are also available at every branch location. First Northern Bank is rated as a Veribanc 鈥淕reen-3 Star Blue Ribbon鈥� Bank and a 鈥�5-Star Superior鈥� Bank by Bauer Financial for the earnings period ended March 31, 2025 () and (). For additional information, please visit thatsmybank.com or call (707) 678-7742. Member FDIC. Equal Housing Lender.

Forward-Looking Statements

This press release and other public statements may include certain 鈥渇orward-looking statements鈥� about First Northern Community Bancorp and its subsidiaries (the 鈥淐ompany鈥�). These forward-looking statements are based on management鈥檚 current expectations, including but not limited to statements about the Company鈥檚 performance and focus on improving shareholder value, 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, trade, business, competitive, market and regulatory factors. More detailed information about these risk factors is contained in the Company鈥檚 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鈥檚 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鈥檚 reports filed with the SEC and available at

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Jeremiah Z. Smith

President & Chief Executive Officer

First Northern Community Bancorp

& First Northern Bank

P.O. Box 547

Dixon, California (707) 678-3041

Source: First Northern Community Bancorp