8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report July 29, 2014

(Date of Earliest event reported)

FIRST NORTHERN COMMUNITY BANCORP

(Exact name of registrant as specified in its charter)

California	68-0450397
(State of Incorporation)	(IRS Employer ID Number)

000-30707

(Commission File No.)

First Northern Community Bancorp
195 North First Street, P.O. Box 547, Dixon, California	95620
(Address of principal executive offices)	(Zip Code)

 (707) 678-3041

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02  RESULTS OF OPERATION AND FINANCIAL CONDITION

On July 29, 2014, First Northern Community Bancorp issued a press release concerning financial results for the 2nd quarter of 2014, a copy of which is included as ITEM 9.01  (c) Exhibit 99.1 and incorporated herein by reference in both ITEM 2.02 and ITEM 7.01.  The Company does not intend for this exhibit to be incorporated by reference into future filings under the Securities Exchange Act of 1934.

ITEM 7.01  REGULATION FD DISCLOSURE

On July 29, 2014, First Northern Community Bancorp issued a press release concerning financial results for the 2nd quarter of 2014, a copy of which is included as ITEM 9.01 (c)  Exhibit 99.1 and incorporated herein by reference in both ITEM 2.02 and ITEM 7.01 in accordance with SEC Release No. 33-8216.

ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS

(c)           Exhibit

99.1           Earnings Press Release, dated July 29, 2014

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:  July 29, 2014	First Northern Community Bancorp (Registrant)
	/s/ Jeremiah Z. Smith
	By: Jeremiah Z. Smith
	Executive Vice President/
	Chief Financial Officer

EXHIBIT INDEX

Exhibit	Document
99.1	Earnings Press Release, dated July 29, 2014

EX-99.1

EXHIBIT 99.1

PRESS RELEASE

FOR IMMEDIATE RELEASE

Contact:         Louise A. WalkerJuly 29, 2014

President & Chief Executive Officer

First Northern Community Bancorp

& First Northern Bank

P.O. Box 547

Dixon, California

             (707) 678-3041

First Northern Community Bancorp – Second Quarter Earnings Report

Strong Growth Continues

Year-Over-Year Double-Digit Growth in Assets, Loans, and Deposits

Dixon, California - 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 second quarter of 2014.  Louise Walker, President and Chief Executive Officer, stated, “The Company reported year-to-date net income available to common shareholders of $2.6 million for the period ending June 30, 2014, up 8.3% compared to net income available to common shareholders of $2.4 million reported for the same fiscal period last year.  Net income totaled $2.7 million for the period ending June 30, 2014, down compared to net income of $2.8 million reported for the same fiscal period last year.” Diluted earnings per share for the six months ended June 30, 2014 was $0.27, up 8.0% compared to diluted earnings per share of $0.25 for the same fiscal period last year.

Net income available to common shareholders for the quarter ended June 30, 2014 totaled $1.3 million or a diluted earnings per common share of $0.13, matching the level of net income available to common shareholders and diluted earnings per common share for the same fiscal period last year.  Net income for the quarter ended June 30, 2014 was $1.3 million compared to $1.4 million for the same fiscal period last year.  

Total assets at June 30, 2014 were $930.8 million, an increase of $86.1 million, or 10.2%, compared to the same period in 2013.  Total deposits of $834.5 million increased $80.2 million, or 10.6%, compared to June 30, 2013 figures.  During that same period, total net loans (including loans held-for-sale) increased $51.9 million, or 11.0%, to $523.3 million.  The total risk-based capital ratio was 16.08%, exceeding the ‘well-capitalized’ threshold of 10%.

Further commenting on the Company’s financial results, Walker stated, “We are pleased that First Northern Community Bancorp continues to grow its balance sheet and post consistent earnings in spite of the dramatic decline in mortgage lending income.  Fortunately that decline has been mostly offset by net interest income driven by an increase in loan growth and a reduction in expenses.  Momentum in many of our local markets is starting to accelerate, which is leading to an expansion in business activities and loan demand.  While competition for loans remains fierce, our loan pipeline is stronger than it has been for several years.  Our strong capital base and liquidity position allow First Northern Bank to meet the financing needs of local businesses and investors with loans for expansion, capital improvement, and the purchase or refinance of real estate.”

-more-

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.

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.

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