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FIRST NORTHERN COMMUNITY BANCORP
FNRNCIK 0001114927NasdaqNon-AcceleratedSmaller ReportingSavings Institution, Federally CharteredCaliforniaFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$21.13M
Total Assets
$1.91B
Equity
$212.02M
Shares Out
15.68M
Op. Cash Flow
$6.90M
Business
FIRST NORTHERN COMMUNITY BANCORP is a bank holding company providing community commercial banking services through its subsidiary, First Northern Bank of Dixon. It offers deposit accounts, commercial, consumer and real estate loans, mortgage services, fiduciary and investment products through Raymond James, and other banking services such as equipment leasing, card processing and payroll. Key operations include the bank, a real estate management subsidiary, branch and mortgage offices, an operations center and third‑party advisors. It serves individuals and small‑to‑medium businesses across Northern and Central California counties via branches, a satellite and mortgage office and advisors.
Summary from filing dated 2025-03-07
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Interest and fees on loans | 58 | 55 | 52 | 42 | 39 | |
| Due from banks interest bearing accounts | 5 | 7 | 9 | 4 | 722,000 | |
| Taxable | 17 | 14 | 11 | 8 | 6 | |
| Non-taxable | 2 | 1 | 914,000 | 909,000 | 603,000 | |
| Other earning assets | 1 | 1 | — | — | — | |
| Total interest and dividend income | 82 | 79 | 74 | 56 | 47 | |
| Time deposits over $250,000 | 1 | 1 | 410,000 | 35,000 | 64,000 | |
| Other deposits | 13 | 13 | — | — | — | |
| FHLB advances | 75,000 | 0 | — | — | — | |
| Total interest expense | 15 | 14 | 8 | — | — | |
| Net interest income | 67 | 64 | 67 | 55 | 46 | |
| Reversal of provision for credit losses | 0 | −250,000 | — | — | — | |
| Net interest income after reversal of provision for credit losses | 67 | 65 | 65 | 54 | 48 | |
| Losses on sales/calls of available-for-sale securities | −199,000 | −234,000 | −112,000 | −152,000 | −221,000 | |
| Gains on sales of loans held-for-sale | 45,000 | 52,000 | 111,000 | 145,000 | 2 | |
| Noninterest Income, Other | 2 | 2 | — | — | — | |
| Total non-interest income | 6 | 6 | 8 | 7 | 8 | |
| Salaries and employee benefits | 25 | 24 | 26 | 24 | 23 | |
| Occupancy and equipment | 5 | 5 | 4 | 4 | 3 | |
| Data processing | 5 | 4 | 4 | 3 | 3 | |
| Stationery and supplies | 339,000 | 313,000 | 349,000 | 292,000 | 253,000 | |
| Advertising | 491,000 | 460,000 | 474,000 | 496,000 | 382,000 | |
| Director fees | 300,000 | 309,000 | 327,000 | 290,000 | 293,000 | |
| Amortization of core deposit intangible | 731,000 | 820,000 | 829,000 | 0 | — | |
| Other expense | 9 | 8 | 7 | 7 | 6 | |
| Total non-interest expenses | 46 | 43 | 44 | 39 | 36 | |
| Income before provision for income tax | 27 | 28 | 30 | 22 | 19 | |
| Provision for income tax | 6 | 8 | 8 | −6 | −5 | |
| Net income | 21 | 20 | 22 | 16 | 14 | |
| Basic income per share (in dollars per share) | 1.3 | 1.2 | 1.35 | 1.05 | 0.96 | |
| Diluted income per share (in dollars per share) | 1.27 | 1.19 | 1.34 | 1.04 | 0.95 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 146 | 119 | 149 | 187 | 346 | |
| Certificates of deposit | 10 | 16 | 20 | 21 | 13 | |
| Investment securities available-for-sale, at estimated fair value, net of allowance for credit losses of $0; amortized cost of $639,532 at December 31, 2025 and $682,346 at December 31, 2024 | 617 | 634 | — | — | — | |
| Loans net of allowance for credit losses of $14,519 at December 31, 2025 and $15,885 at December 31, 2024 | 1,050 | 1,047 | — | — | — | |
| Stock in Federal Home Loan Bank and other equity securities, at cost | 11 | 11 | — | — | — | |
| Premises and equipment, net | 9 | 9 | 10 | 6 | 7 | |
| Other real estate owned | 1 | 0 | — | — | — | |
| Intangible assets, net | 4 | 3 | 4 | 0 | — | |
| Interest Receivable and Other Assets | 62 | 52 | 53 | 59 | 40 | |
| Total Assets | 1,911 | 1,892 | 1,872 | 1,871 | 1,899 | |
| Demand | 632 | 671 | 745 | 775 | 820 | |
| Interest-bearing transaction deposits | 439 | 421 | 380 | 448 | 432 | |
| Savings and MMDAs | 466 | 458 | — | — | — | |
| Time, $250,000 or less | 88 | 109 | 109 | 35 | 38 | |
| Time, over $250,000 | 54 | 41 | 26 | 9 | 11 | |
| Total Deposits | 1,679 | 1,700 | 1,692 | 1,727 | 1,728 | |
| Accrued Liabilities and Other Liabilities | 20 | 15 | — | — | — | |
| Total Liabilities | 1,699 | 1,715 | 1,713 | 1,746 | 1,748 | |
| Commitments and contingencies (Note 10 and 11) | — | — | — | — | — | |
| Common stock, no par value; 32,000,000 shares authorized; 16,406,281 and 15,943,051 shares issued and outstanding at December 31, 2025 and 2024, respectively | 135 | 128 | 123 | 116 | 110 | |
| Additional paid-in capital | 977,000 | 977,000 | — | — | — | |
| Retained earnings | 92 | 81 | 69 | 54 | 44 | |
| Accumulated other comprehensive loss, net | −15 | −34 | −34 | −47 | −4 | |
| Total Stockholders Equity | 212 | 176 | 159 | 125 | 151 | |
| Total Liabilities and Stockholders Equity | 1,911 | 1,892 | 1,872 | 1,871 | 1,899 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation | 849,000 | 846,000 | 820,000 | 655,000 | 588,000 | |
| Depreciation and amortization of bank premises and equipment | 996,000 | 1 | 1 | 774,000 | 764,000 | |
| Accretion and amortization of investment securities premiums and discounts, net | −1 | 230,000 | 2 | 4 | 4 | |
| (Benefit) provision for deferred income taxes | −355,000 | 603,000 | −404,000 | −687,000 | 1 | |
| Proceeds from sales of loans held-for-sale | 3 | 5 | 6 | 11 | 69 | |
| Originations of loans held-for-sale | −3 | −5 | — | — | — | |
| Increase in deferred loan origination costs, net | −591,000 | −64,000 | — | — | — | |
| Amortization of operating lease right-of-use asset | 925,000 | 918,000 | 1 | 1 | 1 | |
| Gain on tax credit purchase | −1 | 0 | — | — | — | |
| Purchase of tax credit | −14 | 0 | — | — | — | |
| Increase in interest receivable and other assets | −6 | −412,000 | — | — | — | |
| Increase (decrease) in interest payable and other liabilities | 6 | −4 | — | — | — | |
| Net cash provided by operating activities | 7 | 20 | 27 | 22 | 25 | |
| Proceeds from maturities of available-for-sale securities | 60 | 86 | 63 | 22 | 22 | |
| Proceeds from sales of available-for-sale securities | 32 | 7 | 18 | 6 | 22 | |
| Principal repayments on available-for-sale securities | 86 | 76 | — | — | — | |
| Purchase of available-for-sale securities | −134 | −230 | −91 | −177 | −357 | |
| Proceeds from maturities of certificates of deposit | 7 | 9 | 5 | 5 | 6 | |
| Purchases of certificates of deposit | −1 | −6 | — | — | — | |
| Purchases of stock in Federal Home Loan Bank and other equity securities, at cost | −353,000 | 0 | — | — | — | |
| Net (increase) decrease in loans | −3 | 6 | −80 | −116 | 27 | |
| Purchases of bank premises and equipment, net | −2 | −343,000 | −1 | −344,000 | −803,000 | |
| Net cash provided by (used in) investing activities | 45 | −53 | 84 | −179 | −186 | |
| Net (decrease) increase in deposits | −21 | 8 | −149 | −1 | 250 | |
| FHLB advances | 20 | 0 | — | — | 0 | |
| FHLB repayments | −20 | 0 | — | 0 | −5 | |
| Cash dividends paid in lieu of fractional shares | −8,000 | −7,000 | −7,000 | −8,000 | −8,000 | |
| Common stock issued | 93,000 | 102,000 | 96,000 | 116,000 | 97,000 | |
| Repurchases of common stock | −5 | −4 | −143,000 | −187,000 | −5 | |
| Net cash (used in) provided by financing activities | −26 | 4 | −149 | −2 | 240 | |
| Net increase (decrease) in cash and cash equivalents | 26 | −30 | — | — | — |
Filings
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