FNRN · First Northern Community Bancorp

First Northern Community Bancorp delivered a strong first quarter in 2026, with net income surging 60.9% to $5.9 million compared to $3.7 million in the same quarter last year. The improvement was driven by a 7.91% increase in net interest income to $17.2 million, as net interest margin expanded 19 basis points to 3.83%. Management attributed the margin expansion to loan growth and improved yields on interest-earning assets, while maintaining a disciplined cost of funds at 90 basis points. Non-interest income rose 19.75% to $1.74 million, primarily due to a 154.3% jump in investment and brokerage income following the Beacon Wealth client acquisition in Q4 2025. Operating expenses decreased 4.8% year-over-year to $11.0 million, reflecting lower consulting fees and loan collection costs. The efficiency ratio improved to 58.23% from 66.62% a year ago. The company also returned capital to shareholders through a 5% stock dividend paid on March 25, 2026, and announced a new stock repurchase program of up to 6% of outstanding shares. Subsequent to quarter-end, the company uplisted to The Nasdaq Capital Market on April 24, 2026, which management expects to strengthen market presence. Balance sheet metrics remained solid, with total assets of $1.92 billion, net loans of $1.06 billion, and deposits of $1.69 billion. The company continued to be well-capitalized, with a total risk-based capital ratio of 19.1%.