First Northern Community Bancorp Reports Third Quarter 2026 Net Income of $6.2 Million

Jeremiah Z. Smith, President and Chief Executive Officer of First Northern Community Bancorp and First Northern Bank

“First Northern continued strong momentum during the third quarter, highlighted by accelerating loan growth and solid deposit generation. Total loans increased $41.1 million during the quarter, representing an annualized growth rate of 14.7% for the three months ended September 30, 2026, compared to a 10.5% annualized growth rate for the nine months ended September 30, 2026. Total deposits increased $68.6 million during the quarter, representing an annualized growth rate of 16.1% for the three months ended September 30, 2026, compared to a 6.5% annualized growth rate for the nine months ended September 30, 2026.”

Jeremiah Z. Smith, President and Chief Executive Officer of First Northern Community Bancorp and First Northern Bank

“We also made meaningful progress in improving our credit quality with the successful resolution of a longstanding nonaccrual lending relationship. This resolution reduced nonaccrual loans by $1.2 million, or 25.6%, during the quarter and contributed to an increase of $1.8 million in nonaccrual interest income recognized when compared to the same quarter last year. This increase in nonaccrual interest income recognized was the primary driver of the $2.5 million increase in net interest income when compared to the same quarter one year prior.”

Jeremiah Z. Smith, President and Chief Executive Officer of First Northern Community Bancorp and First Northern Bank

“Beyond our financial results, we continued to execute on strategic initiatives designed to enhance long-term shareholder value. On October 13, we successfully completed a major system upgrade, replacing our core banking platform and establishing a modern technology foundation to support future growth, improve operational efficiency and reduce ongoing data processing costs. As anticipated, project-related investments contributed to a modest increase in non-interest expenses during the third quarter, with additional costs expected in the fourth quarter as we complete the upgrade.”

Jeremiah Z. Smith, President and Chief Executive Officer of First Northern Community Bancorp and First Northern Bank

“Together with our Nasdaq listing and inclusion in the Russell 3000 Index, these milestones represent significant progress in our long-term strategy. We remain focused on building a resilient, efficient and competitive bank while delivering lasting value to our customers, communities, employees, and shareholders.”