secwatch.observer — SEC 8-K summary
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Issuer:     FIRST NORTHERN COMMUNITY BANCORP (FNRN)
CIK:        0001114927
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0001114927-23-000011
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

First Northern Q1 record net income $5.5M, up 80.5% YoY; branch acquisition boosts results
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- Net income $5.5M ($0.38 diluted EPS) vs $3.0M ($0.21) a year ago; EPS up 81%.
- Net interest income rose 37.3% to $16.0M; net interest margin improved to 3.55% from 3.48% linked quarter.
- Acquired three branches from Columbia State Bank, assuming $115.9M deposits; $1.4M bargain purchase gain ($0.07/share after tax).
- Total assets $1.90B (+1.9% YoY); net loans $974.6M (+11.5% YoY); deposits $1.75B (+2.1% YoY).
- Paid 5% stock dividend on March 24, 2023; remains well-capitalized above 10% risk-based capital threshold.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1114927/000111492723000011/0001114927-23-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1114927/000111492723000011/form8_k.htm
  HTML page:      https://secwatch.observer/filing/0001114927-23-000011

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