First Northern Q2 net income $4.6M (+28.7% YoY); NIM 3.97%, loans up 9.3%

FIRST NORTHERN COMMUNITY BANCORP

2023-Q2 EPS reported $0.69

Net income Q2 2023 $4.6M, diluted EPS $0.31, up 28.7% YoY; six-month net income $10.1M, up 52.6%.
Net interest margin expanded to 3.97% from 3.55% in Q1 2023, including 28bp benefit from $1.3M interest recovery.
Total net loans $1.0B, up 9.3% YoY, driven by commercial real estate and residential mortgage growth.
Charge-off of $2.6M on an agricultural loan; provision for credit losses $2.6M; also recognized $2.0M recovery on different agricultural loan.
Company remained 'well capitalized' with total risk-based capital exceeding 10% threshold.

item 2.02 item 9.01 item 7.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

FIRST NORTHERN COMMUNITY BANCORP reported the six months ended June 30, 2023 results: net income $10.1 million, EPS $0.69 per diluted share.

Period: the six months ended June 30, 2023
Net income: $10.1 million
EPS: $0.69 per diluted share
Result: reported results

Exact text from the filing

today reported net income of $10.1 million, or $0.69 per diluted share, for the six months ended June 30, 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

FIRST NORTHERN COMMUNITY BANCORP reported the quarter ended June 30, 2023 results: net income $4.6 million, EPS $0.31 per diluted share.

Period: the quarter ended June 30, 2023
Net income: $4.6 million
EPS: $0.31 per diluted share
Result: reported results

Exact text from the filing

Net income for the quarter ended June 30, 2023 was $4.6 million, or $0.31 per diluted share

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Source: SEC EDGAR

accession 0001114927-23-000015

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