First Northern Community Bancorp reports recurring developments for First Northern Bank, its community-bank subsidiary serving Northern California markets. Company updates center on quarterly earnings, net interest income and margin, loan and deposit trends, credit-loss provisioning, regulatory capital status, and book value.
News also covers capital-management actions such as stock dividends and share repurchase programs, governance changes at the board level, and the completed move of FNRN common stock from OTCQX to The Nasdaq Capital Market. The bank's business includes deposit gathering and commercial, consumer, agricultural, residential mortgage, and real estate-related lending.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
First Northern Community Bancorp (OTC-PINK: FNRN) reported a strong financial performance for 2022, showcasing a net income of $15.9 million, up 12% from $14.2 million in 2021. Earnings per share rose to $1.09, a 14.7% increase year-over-year. The quarterly net income for Q4 2022 reached $4.7 million, compared with $3.2 million in Q4 2021. Notably, the bank declared a 5% stock dividend payable on March 24, 2023. The total assets as of December 31, 2022 stood at $1.87 billion, reflecting a slight decrease of 1.5% from the previous year.