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First Northern Community Bancorp Announces 6%
Stock Dividend
The Board of Directors of First Northern Community Bancorp, holding
company for First Northern Bank, has declared a 6% stock dividend,
payable March 31, 2003 to shareholders of record as of February 28,
2003. This dividend represents the 38th consecutive year the Company
has paid a stock dividend.
Last month, First Northern Community Bancorp announced record earnings
for the year 2002. First Northern Community Bancorp's net income
increased 7.3% over 2001 to $5,718,000. As a result of the stock
dividend, the annual diluted earnings per share as of December 31,
2002, is $1.59 compared to $1.44 per share earned in 2001 (the 2001
per share earnings was adjusted for the 6% stock dividend issued on
March 29, 2002 and the 6% stock dividend to be issued on March 31,
2003).
First Northern Bank (FNRN), a state-of-the-art community bank
headquartered in Solano County since 1910, serves Solano, Yolo and
parts of Sacramento, Placer and El Dorado Counties. The Bank has
branches located in Dixon, Davis, West Sacramento, Fairfield,
Vacaville, Winters, Woodland, Suisun City and Downtown Sacramento.
First Northern Bank has mortgage lending offices in Davis, Vacaville,
Roseville and El Dorado Hills, and a full service Trust Department and
an SBA Loan Office in Sacramento. In addition to providing traditional
banking products and services, First Northern offers non-FDIC insured
Investment and Brokerage Services at each branch location. The Bank
can be found on the Web at
www.thatsmybank.com.
This document includes certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are
subject to uncertainty 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 those factors is contained in
First Northern'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 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 First Northern's
most recent reports on Form 10-K and Form 10-Q, each as it may be
amended from time to time.] First Northern disclaims any intent or
obligation to update these forward-looking statements. |
