First Northern Community Bancorp Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Earnings Guidance for the Full Year of 2016
The company reported year-to-date net income of $3.8 million for the six months ended June 30, 2016, up 15.2% compared to net income of $3.3 million reported for the same period last year. Diluted earnings per share for the six months ended June 30, 2016 was $0.35, up 16.7% compared to diluted earnings per share of $0.30 for the same period last year.
The company provided earnings guidance for the full year of 2016. The company continues to experience double-digit loan growth, which leads to solid increases in interest income, and healthy increases in low cost deposits are a result of new customer relationships.