Local Business

First Northern Bank posts earnings report

By From page A10 | August 04, 2014

DIXON — First Northern Community Bancorp, the holding company for Dixon-based First Northern Bank, reported strong growth in assets, loans and deposits for the second quarter.

Total assets as of June 30 were $930.8 million, an increase of $86.1 million or 10.2 percent compared to the same period in 2013. Total net loans increased $51.9 million, or 11 percent, to $532.3 million, a First Northern Bank press release said.

The year-to-date net income available to common shareholders was $2.6 million for the period ending June 30. That is up 8.3 percent when compared to the same period in 2013, the press release said.

“We are pleased that First Northern Community Bancorp continues to grow its balance sheet and post consistent earnings in spite of the dramatic decline in mortgage lending income,” bank Chief Executive Officer Louise Walker said in the press release. “Fortunately that decline has been mostly offset by net interest income driven by an increase in loan growth and a reduction in expenses.”

Do you have a Biz Buzz item? Reach Barry Eberling at 427-6929, or [email protected] Follow him on Twitter at www.twitter.com/beberlingdr.

Barry Eberling

Barry Eberling

Barry Eberling has been a reporter with the Daily Republic since 1987. He covers Solano County government, transportation, growth and the environment. He received his bachelors of art degree from the University of California, Santa Barbara and his masters degree in journalism from the University of California, Berkeley.

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