FIRST NORTHERN COMMUNITY BANCORP
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
FNRN$16.50-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Income (Unaudited)
STATEMENTS OF INCOME (UNAUDITED)
| (in thousands, except per share amounts) | Three months ended September 30, 2024 | Three months ended September 30, 2023 | Nine months ended September 30, 2024 | Nine months ended September 30, 2023 |
|---|---|---|---|---|
| Interest and dividend income: | ||||
| Loans | $14,315 | $13,098 | $41,620 | $38,197 |
| Due from banks interest bearing accounts | 1,820 | 2,064 | 5,619 | 6,967 |
| Investment securities | ||||
| Taxable | 3,586 | 2,685 | 9,519 | 8,041 |
| Non-taxable | 312 | 199 | 825 | 692 |
| Other earning assets | 261 | 214 | 784 | 557 |
| Total interest and dividend income | 20,294 | 18,260 | 58,367 | 54,454 |
| Interest expense: | ||||
| Deposits | 3,798 | 2,386 | 10,531 | 4,817 |
| Total interest expense | 3,798 | 2,386 | 10,531 | 4,817 |
| Net interest income | 16,496 | 15,874 | 47,836 | 49,637 |
| (Reversal of) provision for credit losses | (550) | 500 | 200 | 3,100 |
| Net interest income after (reversal of) provision for credit losses | 17,046 | 15,374 | 47,636 | 46,537 |
| Non-interest income: | ||||
| Service charges on deposit accounts | 427 | 436 | 1,292 | 1,259 |
| Gains on sales of loans held-for-sale | 36 | 62 | 41 | 93 |
| Investment and brokerage services income | 146 | 136 | 422 | 387 |
| Mortgage brokerage income | — | 11 | 20 | 21 |
| Loan servicing income | 75 | 79 | 208 | 209 |
| Debit card income | 710 | 713 | 2,074 | 2,094 |
| Losses on sales/calls of available-for-sale securities | (75) | — | (155) | (64) |
| Gain on bargain purchase | — | — | — | 1,405 |
| Other income | 219 | 339 | 627 | 751 |
| Total non-interest income | 1,538 | 1,776 | 4,529 | 6,155 |
| Non-interest expenses: | ||||
| Salaries and employee benefits | 6,242 | 6,377 | 18,506 | 19,653 |
| Occupancy and equipment | 1,204 | 1,064 | 3,514 | 3,138 |
| Data processing | 1,079 | 933 | 3,065 | 2,949 |
| Stationery and supplies | 45 | 103 | 187 | 272 |
| Advertising | 109 | 111 | 303 | 322 |
| Directors’ fees | 74 | 83 | 229 | 234 |
| Amortization of core deposit intangible | 203 | 226 | 617 | 603 |
| Other expense | 1,978 | 1,986 | 6,039 | 5,363 |
| Total non-interest expenses | 10,934 | 10,883 | 32,460 | 32,534 |
| Income before provision for income taxes | 7,650 | 6,267 | 19,705 | 20,158 |
| Provision for income taxes | 2,162 | 1,648 | 5,517 | 5,486 |
| Net income | $5,488 | $4,619 | $14,188 | $14,672 |
| Basic earnings per common share | $0.36 | $0.30 | $0.93 | $0.97 |
| Diluted earnings per common share | $0.36 | $0.30 | $0.92 | $0.96 |
Index
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