Solano County's First Northern Bancorp 1Q earnings jump 45%

First Northern Community Bancorp (OTCQB: FNRN), the holding company for First Northern Bank in northern Solano County, reported a big jump in first-quarter net income from a year before.

President CEO Louise Walker called it "another strong quarter" in the April 26 announcement. Net income at the end of March was $4.0 million, up $1.3 million, or 45.8%. She called it "a new quarterly record for the company."

That included net interest income of $11.7 million as of the end of March of this year, representing an 11.1%, or $1.2 million, increase over the same quarter last year.

Total assets were $1.22 billion at quarter-end, an increase of $14.7 million, or 1.22%.

Total deposits were unchanged over 12 months, at $1.09 billion, but total net loans were $734.0 million, up $13.0 million, or 1.80%.

The Dixon-based company also reported that it paid a 5% stock dividend on March 29 to all shareholders of record as of Feb. 28.