First Northern Bank (FNRN) Q2 2026 earnings summary

Executive summary

• Net income for Q2 2026 was $4.7 million ($0.29 per diluted share), down 13.5% year-over-year, but six-month net income rose 16.4% to $10.6 million ($0.64 per diluted share).

• Total assets grew 2.9% year-over-year to $1.93 billion, with net loans up 2.7% and deposits up 1.7%.

• Commercial loan growth drove net loan increases, offsetting declines in other loan categories.

• Uplisting to Nasdaq and inclusion in the Russell 3000 Index improved stock liquidity and visibility.

Financial highlights

• Net interest income for Q2 2026 was $17.0 million, up 0.3% year-over-year.

• Non-interest income rose 14.7% year-over-year to $1.8 million, driven by investment and brokerage services.

• Non-interest expense increased 9.7% year-over-year due to systems upgrade and staffing.

• Net interest margin remained strong at 3.75% for Q2 2026.

• Book value per share increased to $13.24 at June 30, 2026.

Outlook and guidance

• Elevated operating expenses expected to continue through Q4 2026 due to ongoing systems upgrade, with anticipated efficiency gains and long-term benefits starting in 2027.

• Management remains focused on disciplined balance sheet management and shareholder value creation.