Benefits Employees, Communities, Customers and
Shareholders
DIXON, Calif.--(BUSINESS WIRE)--
Louise Walker, President & Chief Executive Officer of First Northern
Community Bancorp and First Northern Bank (OTCQB:FNRN), is pleased to
announce on the Bank’s 108th anniversary, that the recent
passing of the Tax Cuts and Jobs Act (tax reform) will provide First
Northern with an opportunity to invest in one of its most valuable
assets, its employees. First Northern is providing a one-time
cash bonus of $1,000 to all of its employees; executive management is
excluded. The Company is also increasing its starting wage by $2 per
hour.
Furthermore, in line with First Northern’s Purpose Statement of being
committed and passionate about making a difference in its communities,
the Bank will be contributing an additional $100,000, or $10,000 within
each of its 10 local branch markets, to support local non-profits and
charities. The ‘First Northern Community Giving & Outreach Program’ is
the name of the Bank’s 2018 employee-engagement initiative whereby
employees bankwide will be involved in the non-profit selection and
notification process, as well as participating in team volunteer time
with the non-profit organizations. First Northern’s employees volunteer
an average of over one week per year in community service, and the Bank
has donated millions to its communities over the past decade.
Another Company initiative able to move more swiftly due to the
corporate tax savings, is additional investments will be made this year
in digital technology and mobile capabilities to enhance the customer
experience, while continuing to emphasize expense control.
Walker stated, “We value and nurture our relationships with our
customers, employees and community. We are pleased to make this
investment with our employees who do an outstanding job addressing the
specific financial needs of our customers on a personalized basis each
and every day. We are also excited to have this opportunity to make an
even bigger impact within our communities with additional financial
resources. And with the rapid pace of technology advances in the mobile
and payment spaces, we look forward to having additional capital to
invest in these important customer-centric and increasingly popular
delivery channels. We believe our shareholders will see the benefits of
these investments as they better position the Company for continued
growth and long term success.”
About First Northern Bank
First Northern Bank, established in 1910, prides itself on being a local
community bank with a Policy of Independence. The Policy of Independence
was adopted by the Board of Directors in 1996 to communicate the
Company’s intention of remaining an independent community bank. The Bank
has grown to be the Sacramento Region’s local leader in small business
lending and customer satisfaction. First Northern specializes in
relationship banking and has experts available in small-business,
commercial, real estate and agribusiness lending, as well as mortgage
loans. The Bank is an SBA Preferred Lender. Non-FDIC insured Investment
and Brokerage Services are available at every branch location, through
First Northern Advisors, including: Auburn, Davis, Dixon, Fairfield,
Roseville, Sacramento, Vacaville, West Sacramento, Winters, and
Woodland. The Bank has a full-service Trust Department in Sacramento and
a commercial lending office in Walnut Creek. Real estate mortgage and
small-business loan officers are available by appointment at any of the
Bank’s 10 branches. First Northern is rated as a Veribanc “Blue Ribbon”
Bank for the earnings period of September 30, 2017 (www.veribanc.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 these
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180201006360/en/
First Northern Community Bancorp & First Northern Bank
Kimberly
A. DeBra, 707-678-3041
EVP/Chief Communications Officer
Source: First Northern Bank