First Northern Community Bancorp Reports Third Quarter 2015 Earnings

Net Income for the Quarter of $1.8 Million, up
12.5% from Prior Year

Loan Balances Reach All-Time High of $592.7
Million, up 12.7% From Prior Year

Deposits Grow 8.8% to a New Record of $931.3
Million

DIXON, Calif.–(BUSINESS WIRE)–First Northern Community Bancorp (the “Company,” ticker symbol FNRN:
OTCQB), holding company for First Northern Bank (“First Northern” or the
“Bank”), today announced earnings through the third quarter of 2015.
Louise Walker, President and Chief Executive Officer, stated, “The
Company reported year-to-date net income of $5.1 million for the
nine-month period ending September 30, 2015, up 18.6% compared to net
income of $4.3 million reported for the same fiscal period last year.
Net income available to common shareholders totaled $5.0 million for the
period ending September 30, 2015, up 19.0% compared to net income
available to common shareholders of $4.2 million reported for the same
fiscal period last year. Diluted earnings per share for the nine months
ended September 30, 2015 was $0.49, up 19.5% compared to diluted
earnings per share of $0.41 for the same fiscal period last year.”

Net income for the quarter ended September 30, 2015 was $1.8 million, up
12.5% compared to net income of $1.6 million reported for the same
fiscal period last year. Net income available to common shareholders for
the quarter ended September 30, 2015 totaled $1.8 million, up 20.0%
compared to net income available to common shareholders of $1.5 million
reported for the same fiscal period last year. Diluted earnings per
share for the three months ended September 30, 2015 was $0.17, up 13.3%
compared to diluted earnings per share of $0.15 for the same fiscal
period last year.

Total assets at September 30, 2015 were $1.04 billion, an increase of
$83.6 million, or 8.8%, compared to the same period in 2014. Total
deposits of $931.3 million increased $75.5 million, or 8.8%, compared to
September 30, 2014 figures. During the same period, total net loans
(including loans held-for-sale) increased $66.6 million, or 12.7%, to
$592.7 million. The Company continues to be “well capitalized” under
regulatory definitions, exceeding the 10% threshold at September 30,
2015.

Further commenting on the Company’s financial results, Walker stated,
“The very positive momentum and growth of First Northern Community
Bancorp continued with another strong quarter of solid performance
across our entire Company. Loan and deposit balances reached all-time
highs, growing $66.6 million and $75.5 million, respectively, over the
same quarter last year. Credit quality remains strong with
non-performing assets down 62% from $6.8 million one year ago to $2.6
million at September 30, 2015. The reductions in classified assets and
loan delinquencies 30 or more days are also bright spots in the loan
portfolio. On October 26, 2015, First Northern Community Bancorp
self-funded the retirement of the remaining $12,847,000 in preferred
stock it issued on September 20, 2011 to the U.S. Treasury under the
Small Business Lending Fund, with its risk-based capital level remaining
above the ‘well-capitalized’ threshold. We believe our demonstrated
financial strength will continue to drive improved value for our
shareholders.”

First Northern Bank, an independent community bank headquartered in
Solano County since 1910, serves Solano, Yolo, Sacramento, Placer,
Contra Costa County and the west slope of El Dorado County. First
Northern has nine full service branches located in Dixon, Davis, West
Sacramento, Fairfield, Vacaville, Winters, Woodland, Roseville, and
Auburn, and has a full service Trust Department in Sacramento. The Bank
also offers 24/7 real estate mortgage loans, SBA loans, and non-FDIC
insured Investment & Brokerage Services at each branch location. First
Northern’s Real Estate Mortgage Loan office is located in Davis, and
real estate loan representatives are available to meet customers at any
of the Bank’s branches by appointment. The Bank specializes in
relationship banking and employs experts in the area of small business,
commercial, agribusiness, and real estate lending, as well as wealth
management, and is rated as a “Superior” 5-Star Bank by BauerFinancial
Inc. (www.bauerfinancial.com).
The Bank can be found on the Web at www.thatsmybank.com,
on Facebook
and on LinkedIn.

Forward-Looking Statements

This press release may include certain “forward-looking statements”
about First Northern Community Bancorp (the “Company”). These
forward-looking statements are based on management’s current
expectations and are subject to certain risks, uncertainties and changes
in circumstances. Actual results may differ materially from these
expectations due to changes in global political, economic, business,
competitive, market and regulatory factors. More detailed information
about these risk factors is contained in the Company’s most recent
reports filed with the Securities and Exchange Commission on Forms 10-K,
10-Q and 8-K, each as it may be amended from time to time, which
identify important risk factors that could cause actual results to
differ materially from those contained in the forward-looking
statements. The financial information contained in this release should
be read in conjunction with the consolidated financial statements and
notes thereto included in the Company’s most recent reports on Form 10-K
and Form 10-Q. The Company undertakes no obligation to update any
forward-looking statements to reflect events or circumstances arising
after the date on which they are made. For further information regarding
the Company, please read the Company’s reports filed with the SEC and
available at
www.sec.gov.

Contacts

First Northern Community Bancorp & First Northern Bank
Louise
A. Walker, 707-678-3041
President & Chief Executive Officer