業績公告
即時報告
8-K
2026-07-30
第一北方社區銀行半年淨收入1060萬美元 貸款年化增長10.5%
AI 繁中摘要
First Northern Community Bancorp（NASDAQ: FNRN）昨日（7月29日）透過8-K文件公布2026年第二季度業績。截至6月30日止六個月，淨收入為1,060萬美元，每股攤薄盈利0.64美元，按年上升16.4%；但單計第二季度，淨收入則為470萬美元，每股盈利0.29美元，按年下跌13.5%，主要受信貸損失撥備增加及營運開支上升影響。
資產負債表方面，總資產達19.3億美元，按年增長2.9%；淨貸款增至10.9億美元，按年升2.7%，其中商業貸款增長為主，但部分被商業房地產、農業、住宅按揭及消費貸款減少所抵銷。存款總額16.9億美元，按年升1.7%。資本充足率維持穩健，全面資本比率19.0%，遠高於10%監管門檻，繼續列為「資本充足」機構。
行政總裁Jeremiah Smith表示，第二季度淨貸款季內增加2,790萬美元，年化增長率達10.5%；非應計貸款下跌7.1%至460萬美元。淨息差維持3.75%，資金成本僅0.90%，反映低息存款基礎強勁。收購Beacon Wealth業務持續帶動非利息收入，投資及經紀服務收入按年大增141.3%，令整體非利息收入升至180萬美元，按年升14.7%。
管理層提到，系統升級項目令員工、數據處理及顧問費用增加，預期成本將持續至第四季度實施完成，2027年起方可體現效率提升及營運效益。另外，公司已於4月24日成功轉板至Nasdaq Capital Market，並於6月29日獲納入Russell 3000指數，有助提升交易量、流通性及機構投資者持股。每股賬面值由3月底的13.03美元升至6月底的13.24美元。
對投資者而言，第二季度盈利按年回落，但貸款增長強勁、資產質素改善，加上轉板及指數納入等利好因素，長遠有助股東價值提升。惟需留意系統升級開支短期內或繼續壓抑盈利能力。📊🏦
展開英文正文
EX-99.1 2 ex_982643.htm EXHIBIT 99.1 ex_982643.htm EXHIBIT 99.1 First Northern Community Bancorp Reports Second Quarter 2026 Net Income of $4.7 Million For immediate release Dixon, Calif., July 29, 2026 — First Northern Community Bancorp (the “Company”, NASDAQ: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $10.6 million, or $0.64 per diluted share, for the six months ended June 30, 2026, up 16.4% compared to net income of $9.1 million, or $0.55 per diluted share, for the six months ended June 30, 2025. Net income for the quarter ended June 30, 2026, was $4.7 million, or $0.29 per diluted share, down 13.5% compared to net income of $5.5 million, or $0.33 per diluted share, for the quarter ended June 30, 2025. Total assets as of June 30, 2026, were $1.93 billion, an increase of $54.4 million, or 2.9%, compared to June 30, 2025. Total net loans, including loans held-for-sale, as of June 30, 2026, were $1.09 billion, an increase of $29.0 million, or 2.7%, compared to June 30, 2025. The increase in net loans was primarily driven by growth in commercial loans, which was partially offset by net reductions in commercial real estate, agriculture, residential mortgage and consumer loans. Total deposits as of June 30, 2026, were $1.69 billion, an increase of $28.6 million, or 1.7%, compared to June 30, 2025. The Company continued to be “well capitalized” under regulatory definitions, exceeding the 10% total risk-based capital ratio threshold as of June 30, 2026. Jeremiah Smith, President and Chief Executive Officer, commented, “We are pleased with our second quarter performance, highlighted by strong loan growth, continued credit quality improvements, and disciplined balance sheet management. Net loans increased by $27.9 million during the quarter, representing an annualized growth rate of 10.5%, while non-accrual loans declined by 7.1% to $4.6 million. Our net interest margin remained strong at 3.75%, and our cost of funds was well managed at 0.90%, reflecting the ongoing strength of our low-cost deposit franchise. The acquisition of Beacon Wealth in the fourth quarter of 2025 continued to improve our total non-interest income. Investment and brokerage services income for the quarter ended June 30, 2026 increased by 141.3% compared to the same quarter one year prior, contributing to a 14.7% increase in total non-interest income to $1.8 million compared to June 30, 2025.” Further, “We also remain focused on managing operating expenses while investing in the future of the Bank. During the second quarter, our systems upgrade project accelerated, resulting in modest increases in staffing, data processing, and consulting expenses. We expect these elevated costs to continue through our planned fourth quarter project implementation, after which we anticipate enhanced capabilities, improved process efficiencies, and long-term operating benefits beginning in 2027.” Lastly, Mr. Smith commented, “We remain committed to enhance and unlock shareholder value. On April 24, 2026, we successfully uplisted to The Nasdaq Capital Market, and, effective June 29,2026, we were added to the Russell 3000 Index. These milestones significantly increased trading volume, improved liquidity of our common stock, and expanded our visibility among institutional investors as index funds tracking the Russell 3000 acquired shares. In addition to improving our valuation, we continued to improve our book value per share, which increased from $13.03 at March 31, 2026 to $13.24 at June 30, 2026. Together, these achievements reflect the continued execution of our long-term strategy to create value for our shareholders while positioning the Company for future growth." Second QUARTER HIGHLIGHTS (UNAUDITED) Performance and operating highlights for the Company for the periods noted below included the following: Three months ended June 30, March 31, June 30, (in thousands, except per share and share data) 2026 2026 2025 Return on average assets (“ROAA”) (annualized) 0.98 % 1.24 % 1.18 % Return on average equity (“ROAE”) (annualized) 8.80 % 11.21 % 11.67 % Pre-tax income $ 6,215 $ 7,612 $ 7,597 Net income $ 4,728 $ 5,906 $ 5,466 Net interest margin (annualized) 3.75 % 3.83 % 3.85 % Cost of funds (annualized) 0.90 % 0.90 % 0.88 % Efficiency ratio 63.69 % 58.23 % 58.91 % Basic earnings per common share $ 0.29 $ 0.37 $ 0.33 Diluted earnings per common share $ 0.29 $ 0.36 $ 0.33 Weighted average basic common shares outstanding 16,119,853 16,133,555 16,377,019 Weighted average diluted common shares outstanding 16,508,791 16,490,162 16,592,259 Shares outstanding at end of period 16,395,303 16,409,660 16,609,244 Book value per share $ 13.24 $ 13.03 $ 11.73 Leverage ratio 12.0 % 11.7 % 11.3 % Common equity tier 1 capital ratio 17.7 % 17.8 % 16.9 % Tier 1 capital ratio 17.7 % 17.8 % 16.9 % Total capital ratio 19.0 % 19.1 % 18.1 % Tangible common equity ratio 11.0 % 10.9 % 10.2 % Reconciliation of Non-GAAP Financial Measures Total shareholders' equity $ 217,154 $ 213,799 $ 194,885 Less mortgage servicing rights (1,101 ) (1,126 ) (1,242 ) Less intangible assets (3,834 ) (4,079 ) (2,952 ) Total tangible common stockholders' equity $ 212,219 $ 208,594 $ 190,691 Total assets $ 1,926,412 $ 1,924,548 $ 1,871,990 Less mortgage servicing rights (1,101 ) (1,126 ) (1,242 ) Less intangible assets (3,834 ) (4,079 ) (2,952 ) Total tangible assets $ 1,921,477 $ 1,919,343 $ 1,867,796 Tangible common equity ratio 11.0 % 10.9 % 10.2 % Summary Results (Unaudited) The following is a summary of the components of the Company’s operating results for the periods indicated: Three months ended June 30, March 31, (in thousands) 2026 2026 $ Change % Change Selected operating data: Net interest income $ 17,006 $ 17,204 $ (198 ) (1.15 )% Provision for credit losses 600 300 300 100.00 % Non-interest income 1,763 1,740 23 1.32 % Non-interest expense 11,954 11,032 922 8.36 % Pre-tax income 6,215 7,612 (1,397 ) (18.35 )% Provision for income taxes 1,487 1,706 (219 ) (12.84 )% Net income $ 4,728 $ 5,906 $ (1,178 ) (19.95 )% Three months ended June 30, June 30, (in thousands) 2026 2025 $ Change % Change Selected operating data: Net interest income $ 17,006 $ 16,953 $ 53 0.31 % Provision for credit losses 600 — 600 NM Non-interest income 1,763 1,537 226 14.70 % Non-interest expense 11,954 10,893 1,061 9.74 % Pre-tax income 6,215 7,597 (1,382 ) (18.19 )% Provision for income taxes 1,487 2,131 (644 ) (30.22 )% Net income $ 4,728 $ 5,466 $ (738 ) (13.50 )% Balance Sheet Summary (Unaudited) June 30, December 31, (in thousands) 2026 2025 $ Change % Change Selected financial condition data: Cash and cash equivalents $ 113,435 $ 145,554 $ (32,119 ) (22.07 )% Total investments 618,931 617,243 1,688 0.27 % Total loans, net 1,092,098 1,050,473 41,625 3.96 % Total assets 1,926,412 1,910,950 15,462 0.81 % Total deposits 1,691,887 1,679,143 12,744 0.76 % Total liabilities 1,709,258 1,698,932 10,326 0.61 % Total shareholders’ equity 217,154 212,018 5,136 2.42 % Net Interest Income and Net Interest Margin (Unaudited) The following table shows the components of net interest income and net interest margin for the quarterly periods indicated: Three months ended June 30, 2026 March 31, 2026 June 30, 2025 (in thousands) Average Balance Interest Income/ Expense Yields Earned/ Rates Paid (1) Average Balance Interest Income/ Expense Yields Earned/ Rates Paid (1) Average Balance Interest Income/ Expense Yields Earned/ Rates Paid (1) Assets Interest-earning assets: Loans $ 1,070,933 $ 14,549 5.45 % $ 1,044,166 $ 14,322 5.56 % $ 1,044,581 $ 14,629 5.62 % Certificates of deposit 10,699 107 4.01 % 10,558 106 4.07 % 15,112 157 4.17 % Interest-bearing due from banks 102,368 1,034 4.05 % 125,045 1,098 3.56 % 85,828 1,010 4.72 % Investment securities, taxable 569,985 4,529 3.19 % 573,637 4,434 3.13 % 560,021 4,137 2.96 % Investment securities, non-taxable 54,549 438 3.22 % 57,685 447 3.14 % 49,497 391 3.17 % Other interest-earning assets 10,870 149 5.50 % 10,870 555 20.71 % 10,808 250 9.28 % Total average interest-earning assets 1,819,404 20,806 4.59 % 1,821,961 20,962 4.67 % 1,765,847 20,574 4.67 % Non-interest-earning assets: Cash and due from banks 30,581 29,481 30,777 Premises & equipment, net 8,969 8,693 7,866 Interest receivable and other assets 67,325 65,134 53,556 Total average assets $ 1,926,279 $ 1,925,269 $ 1,858,046 Liabilities and Stockholders’ Equity Interest-bearing liabilities: Interest-bearing transaction deposits $ 451,794 810 0.72 % $ 444,368 766 0.70 % $ 428,553 693 0.65 % Savings and MMDA’s 477,236 1,857 1.56 % 475,494 1,809 1.54 % 447,276 1,602 1.44 % Time, $250,000 and under 84,760 677 3.20 % 85,614 723 3.42 % 88,024 889 4.05 % Time, over $250,000 53,683 456 3.41 % 55,793 460 3.34 % 51,942 362 2.80 % FHLB advances — — — — — — 6,593 75 4.56 % Total average interest-bearing liabilities 1,067,473 3,800 1.43 % 1,061,269 3,758 1.44 % 1,022,388 3,621 1.42 % Non-interest-bearing liabilities: Non-interest-bearing demand deposits 626,901 632,800 634,352 Interest payable and other liabilities 16,485 17,462 13,505 Total average liabilities 1,710,859 1,711,531 1,670,245 Total average stockholders’ equity 215,420 213,738 187,801 Total average liabilities and stockholders’ equity $ 1,926,279 $ 1,925,269 $ 1,858,046 Net interest income and net interest margin $ 17,006 3.75 % $ 17,204 3.83 % $ 16,953 3.85 % (1) For disclosure purposes, yield/rates are annualized by dividing the number of days in the reported period by 365. About First Northern Bank First Northern Bank is an independent community bank that specializes in relationship banking. The Bank, headquartered in Solano County since 1910, serves Solano, Yolo, Sacramento, Placer, Colusa, and Glenn counties, as well as the west slope of El Dorado County. Experts are available in small business, commercial, real estate, and agribusiness lending, as well as mortgage loans. The Bank is an SBA Preferred Lender. Real estate mortgage and small-business loan officers are available by appointment at any of the Bank’s 14 branches, including Dixon, Davis, West Sacramento, Fairfield, Vacaville, Winters, Woodland, Sacramento, Roseville, Auburn, Rancho Cordova, Colusa, Willows, and Orland. Non-FDIC insured Investment and Brokerage Services are also available at every branch location. First Northern Bank is rated as a Veribanc “Green-3 Star Blue Ribbon” Bank and a “5-Star Superior” Bank by Bauer Financial for the earnings period ended September 30, 2025 (www.veribanc.com) and (www.bauerfinancial.com). For additional information, please visit thatsmybank.com or call (707) 678-7742. Member FDIC. Equal Housing Lender. Forward-Looking Statements This press release and other public statements may include certain “forward-looking statements” about First Northern Community Bancorp and its subsidiaries (the “Company”). These forward-looking statements are based on management’s current expectations, including but not limited to statements about the Company’s performance and the strength of its low-cost deposit franchise, focus on managing operating expenses and improving shareholder value and positioning the Company for future growth, and the expected costs and potential benefits of the Company's systems upgrade project, and are subject to certain risks, uncertainties and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, trade, business, competitive, market and regulatory factors. More detailed information about these risk factors is contained in the Company’s reports filed with the Securities and Exchange Commission on Forms 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements. Any anticipated benefits of the uplisting of the Company’s common stock to The Nasdaq Capital Market are subject to market conditions and other factors outside of the Company’s control, and no assurance can be given as to the effect that the uplisting may have on the trading volume of our stock or on the liquidity of an investment in our stock. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s most recent reports on Form 10-K and Form 10-Q, and any reports on Form 8-K. Readers are cautioned not to place undue reliance on forward‑looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made, except as may be required by applicable law. For further information regarding the Company, please read the Company’s reports filed with the SEC and available at www.sec.gov. Contact: Jeremiah Z. Smith President & Chief Executive Officer First Northern Community Bancorp & First Northern Bank P.O. Box 547 Dixon, California (707) 678-3041