First Northern Community Bancorp Files 8-K

TL;DR

FNBC filed an 8-K on 3/21 detailing Reg FD, other events, and financials.

AI Summary

First Northern Community Bancorp filed an 8-K on March 21, 2024, reporting on events that occurred on the same date. The filing includes information related to Regulation FD Disclosure, Other Events, and Financial Statements and Exhibits. The company is a federally chartered savings institution based in Dixon, California.

Why It Matters

This 8-K filing provides important updates and disclosures for investors and stakeholders of First Northern Community Bancorp, covering regulatory, operational, and financial information.

Risk Assessment

Risk Level: low — This filing is a routine 8-K report and does not appear to contain any significant negative news or events.

Key Players & Entities

• FIRST NORTHERN COMMUNITY BANCORP (company) — Registrant
• Dixon, California (location) — Principal executive offices location
• March 21, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $9.00 — purchase which, at the closing price of $9.00 on March 21, 2024, would equate to tota
• $8.4M — to total consideration of approximately $8.4M if all eligible shares were repurchased

Filing Documents

• form8_k.htm (8-K) — 14KB
• exhibit99_1.htm (EX-99.1) — 7KB
• image0.jpg (GRAPHIC) — 130KB
• 0001114927-24-000028.txt ( ) — 202KB

01 REGULATION FD DISCLOSURE

ITEM 7.01 REGULATION FD DISCLOSURE On March 27, 2024, First Northern Community Bancorp issued a press release announcing a new stock repurchase program for the Company's outstanding common stock, which was approved by the Corporation's Board of Directors on March 21, 2024. This new program will begin May 1, 2024 and remain in effect until April 30, 2026. A copy of this press release is furnished herewith as Exhibit 99.1.

01 OTHER EVENTS

ITEM 8.01 OTHER EVENTS The Board of Directors of First Northern Community Bancorp (FNRN), holding company of First Northern Bank, has announced a stock repurchase program for the Company's outstanding common stock. Based on market conditions, share repurchases may be made from time to time in the open market or in privately negotiated transactions. The repurchase program will begin May 1, 2024 and will remain in effect until April 30, 2026, unless terminated sooner. The program allows repurchases in an aggregate amount of no more than 6% of First Northern Community Bancorp's 15,550,731 outstanding shares of common stock as of March 21, 2024 (which includes the stock dividend that was paid on March 25, 2024) . This represents total shares of 933,043 eligible for repurchase which, at the closing price of $9.00 on March 21, 2024, would equate to total consideration of approximately $8.4M if all eligible shares were repurchased. The Board of Directors has determined that the maximum aggregate repurchases will not impair the capital of the Corporation. Any repurchases are intended to be conducted in accordance with the limitations, guidelines, and restrictions relative to timing, price, manner, and volume of Rule 10b-18 promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended.

01 FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibit 99.1 Stock Repurchase Program Press Release, dated March 27, 2024

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 27, 2024 First Northern Community Bancorp (Registrant) /s/ Jeremiah Z. Smith By: Jeremiah Z. Smith President/Chief Executive Officer EXHIBIT INDEX Exhibit Document 99.1 Stock Repurchase Program Press Release, dated March 27, 2024

View Full Filing

View this 8-K filing on SEC EDGAR