Overview

* First Northern Community Bancorp's ( FNRN ) Q3 net income rises 9.6% yr/yr to $6.0 mln

* Net interest margin for Q3 improves to 3.75%

* Total assets decrease 1.2% yr/yr; net loans increase 1.3%

Outlook

* Company did not provide specific guidance for future periods

Result Drivers

* NET INTEREST MARGIN - Improvement to 3.75% driven by higher yields on securities and disciplined deposit pricing

* TAX STRATEGY - Execution of tax planning strategy reduced effective tax rate through investment tax credits

* LOAN GROWTH - Increase in net loans driven by growth in commercial loans

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $6 mln

Income

Q3 Net 3.75%

Interest

Margin

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)