Solano County’s First Northern Bancorp see 2Q earnings jump
First Northern Community Bancorp (OTCQB: FNRN), the holding company for First Northern Bank in northern Solano County, reported a jump in earnings, showing net income for the second quarter of 2019 at $3.4 million compared to $3.0 million for the same period last year.
Assets and deposits also increased, according to a release from the bank.
Total assets at the end of June were $1.23 billion, an increase of $45.7 million, or 3.9%, when compared to Q2 last year.
Total deposits at the end of this most recent quarter were $1.09 billion, an increase of $20.1 million, or 1.9%, compared to the end of June 2018.
In a statement, President & CEO Louise Walker said: “We are growing our relationship management teams with top local talent and look forward to attracting more and more small to medium sized businesses throughout our service area with First Northern’s brand of banking.”
She noted the bank is preparing to open its 11th full-service branch in Rancho Cordova and expected to be moved in later this summer.