secwatch.observer — SEC 8-K summary
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Issuer:     FIRST NORTHERN COMMUNITY BANCORP (FNRN)
CIK:        0001114927
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001114927-24-000040
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

First Northern Q1 net income $4.3M, down 22.1% YoY; deposits slip 2.4%
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- Net income $4.3M ($0.28 diluted EPS) vs $5.5M ($0.36) in Q1 2023; prior year included $1.0M bargain purchase gain from branch acquisition.
- Total deposits $1.71B, down 2.4% YoY; net loans $1.05B, up 7.5% driven by commercial real estate, residential mortgage.
- Cost of funds low at 0.76% with 44% of funding from non-interest-bearing transaction accounts.
- Book value per share rose to $10.44 as of March 31, 2024; paid 5% stock dividend on March 25.
- Company remained well capitalized with total risk-based capital above 10% threshold.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1114927/000111492724000040/0001114927-24-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1114927/000111492724000040/form8_k.htm
  HTML page:      https://secwatch.observer/filing/0001114927-24-000040

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