secwatch.observer — SEC 8-K summary
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Issuer:     FIRST NORTHERN COMMUNITY BANCORP (FNRN)
CIK:        0001114927
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001114927-22-000020
Event type: m_and_a
Sentiment:  positive
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Northern Bancorp to acquire three Columbia Bank branches in Northern California for ~$128M in deposits
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- Consideration is 3.15% of average deposits over 30 days plus net book value of assets; ~$128M deposits and ~$4M loans as of Nov 3, 2022.
- Branch divestiture required by DOJ to satisfy conditions for Columbia Bank's pending merger with Umpqua Holdings.
- Transaction expected to close in Q1 2023, subject to regulatory approvals and consummation of Columbia-Umpqua merger.
- All employees of the three branches will be retained by First Northern and branches remain in operation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1114927/000111492722000020/0001114927-22-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1114927/000111492722000020/form8_k.htm
  HTML page:      https://secwatch.observer/filing/0001114927-22-000020

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