<PAGE>
================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the Quarter Ended June 30, 2000
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from _________ to __________.
Commission File Number 000-30707
FIRST NORTHERN COMMUNITY BANCORP
(Exact name of Registrant as specified in its charter)
California 68-0450397
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
195 N. First St., Dixon, CA 95620
(Address of principal executive offices) (Zip Code)
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: Common Stock,
no par value
(Title of Class)
707-678-3041
(Registrant's telephone number including area code)
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter periods as the
Registrant was required to file such reports) and (2) has been subject to such
filing requirements for the past 90 days.
Yes [X] No [ ]
Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practical date.
Common stock, no par value........ 3,085,562 shares as of August 2, 2000.
================================================================================
<PAGE>
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
ASSETS
<TABLE>
<CAPTION>
June 30, 2000 December 31, 1999
------------------ -----------------
<S> <C> <C>
Cash and due from banks $ 30,960,444 $ 19,806,022
Federal funds sold 14,900,000 37,300,000
Investment securities - available for sale 132,268,312 135,451,683
Loans, net of allowance for loan losses of
$7,557,301 at June 30, 2000 and
$7,825,255 at December 31, 1999 187,314,669 162,930,575
Premises and equipment, net 6,160,221 6,031,711
Accrued interest receivable and other assets 9,009,390 9,470,615
------------------ ----------------
TOTAL ASSETS $ 380,613,036 $ 370,990,606
================== ================
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits
Demand $ 97,102,673 $ 86,123,941
Interest-bearing transaction deposits 37,455,234 36,284,409
Savings & MMDA's 100,174,938 102,517,387
Time 110,923,429 110,704,197
------------------ ----------------
Total deposits 345,656,274 335,629,934
Accrued interest payable and other liabilities 3,144,306 3,287,969
------------------ ----------------
TOTAL LIABILITIES 348,800,580 338,917,903
------------------ ----------------
Stockholders' equity
Common stock, no par value; 4,000,000 shares authorized;
3,114,645 shares issued and outstanding in 2000
and 3,092,273 shares issued and outstanding in 1999 23,506,459 23,322,001
Additional paid in capital 976,850 976,850
Retained earnings 9,284,970 9,513,151
Accumulated other comprehensive loss (1,955,823) (1,739,299)
------------------ ----------------
TOTAL STOCKHOLDERS' EQUITY 31,812,456 32,072,703
------------------ ----------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 380,613,036 $ 370,990,606
================== ================
</TABLE>
See notes to unaudited condensed consolidated financial statements.
2
<PAGE>
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
<TABLE>
<CAPTION>
Three months Three months Six months Six months
ended ended ended ended
June 30, 2000 June 30, 1999 June 30, 2000 June 30, 1999
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
Interest
Loans $ 4,470,914 $ 3,976,439 $ 8,475,479 $ 7,670,776
Federal funds sold 329,485 292,792 850,576 570,375
Investment
Taxable 1,887,445 1,498,810 3,737,386 2,983,799
Non-taxable 303,180 361,529 591,062 732,526
------------- ------------- ------------- -------------
Total interest income 6,991,024 6,129,570 13,654,503 11,957,476
Interest Expense
Deposits 2,144,642 1,866,686 4,231,315 3,759,949
Other borrowings 10,359 12,447 24,847 21,495
------------- ------------- ------------- -------------
Total interest expense 2,155,001 1,879,133 4,256,162 3,781,444
------------- ------------- ------------- -------------
Net interest income 4,836,023 4,250,437 9,398,341 8,176,032
Provision for loan - - - 75,000
------------- ------------- ------------- -------------
Net interest income after
provision for loan losses 4,836,023 4,250,437 9,398,341 8,101,032
------------- ------------- ------------- -------------
Other operating
Service charges on deposit accounts 416,284 284,570 709,989 546,331
Gains on securities transactions 4,000 27,637 14,300 48,133
Other income 464,787 452,980 793,610 863,277
------------- ------------- ------------- -------------
Total other operating income 885,071 765,187 1,517,899 1,457,741
------------- ------------- ------------- -------------
Other operating expenses
Salaries and employee benefits 2,349,262 2,046,464 4,487,908 4,113,681
Occupancy and equipment 544,929 526,116 1,044,970 1,024,635
Data processing 105,475 110,417 206,281 207,670
Stationery and supplies 109,106 107,007 254,169 206,121
Advertising 97,928 100,285 167,782 144,980
Other Real Estate Expense - 17,185 - 56,890
Other 684,655 674,046 1,379,139 1,321,663
------------- ------------- ------------- -------------
Total other operating expense 3,891,355 3,581,520 7,540,249 7,075,640
------------- ------------- ------------- -------------
Income before income tax 1,829,739 1,434,104 3,375,991 2,483,133
Provision for income tax expense 660,300 482,300 1,084,112 802,900
------------- ------------- ------------- -------------
Net income $ 1,169,439 $ 951,804 $ 2,291,879 $ 1,680,233
Other Comprehensive Income:
Unrealized gain (loss) on available for
sale securities, net of tax effect 32,503 (1,801,300) (216,524) (2,425,711)
------------- ------------- ------------- -------------
Total Comprehensive Income (Loss) $ 1,201,942 $ (849,496) $ 2,075,355 $ (745,478)
============= ============= ============= =============
Basic Income per share $ 0.36 $ 0.29 $ 0.71 $ 0.51
============= ============= ============= =============
Diluted Income per share $ 0.36 $ 0.29 $ 0.70 $ 0.51
============= ============= ============= =============
</TABLE>
See notes to unaudited condensed consolidated financial statements.
3
<PAGE>
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>
Six months Six months
ended ended
June 30, 2000 June 30, 1999
------------- -------------
<S> <C> <C>
Operating Activities
Net Income $ 2,291,879 $ 1,680,233
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation 414,954 443,803
Provision for loan losses - 75,000
Decrease (increase) in accrued interest receivable and other assets 461,225 (1,590,674)
(Decrease) increase in accrued interest payable and other liabilities (143,663) 954,999
------------- -------------
Net cash provided by operating activities 3,024,395 1,563,361
Investing Activities
Net decrease in investment securities 2,966,847 143,754
Net increase in loans (24,384,094) (15,703,277)
Purchases of premises and equipment, net (543,464) (313,671)
------------- -------------
Net cash used in investing activities (21,960,711) (15,873,194)
Financing Activities
Net Increase (decrease) in deposits 10,026,340 (5,130,764)
Cash dividends paid (5,812) (5,232)
Repurchase of stock (2,329,790) -
-------------- --------------
Net cash provided by (used in) financing activities 7,690,738 (5,135,996)
-------------- --------------
Net change in cash and cash equivalents (11,245,578) (19,445,829)
Cash and cash equivalents at beginning of period 57,106,022 49,184,700
-------------- --------------
Cash and cash equivalents at end of period $ 45,860,444 $ 29,738,871
============== ==============
------------------------------------------------------------------------------------------------------------------------------------
Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest $ 4,282,472 $ 3,909,977
Income Taxes $ 496,900 $ 696,000
-----------------------------------------------------------------------------------------------------------------------------------
Supplemental disclosures of noncash investing and financing activities:
Stock dividend distributed $ 2,514,249 $ 2,055,480
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
See notes to unaudited condensed consolidated financial statements.
4
<PAGE>
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2000 and December 31, 1999
1. BASIS OF PRESENTATION
The accompanying unaudited condensed financial statements have been
prepared in accordance with generally accepted accounting principles for
interim financial information and with the instructions to Form 10-Q and
Article 10 of Regulation S-X. Accordingly, they do not include all of the
information and notes required by generally accepted accounting principles
for complete financial statements. In the opinion of management, all
adjustments (consisting of normal recurring accruals) considered necessary
for a fair presentation have been included. The results of operations for
any interim period are not necessarily indicative of results expected for
the full year. These condensed consolidated financial statements should be
read in conjunction with the financial statements and notes thereto
contained in the First Northern Bank of Dixon's Annual Report to
shareholders and Form 10-K for the year ended December 31, 1999.
2. REORGANIZATION
On April 27, 2000, at the Annual Meeting of Shareholders, the shareholders
of the First Northern Bank of Dixon (the Bank) approved the creation of a
bank holding company to be called "First Northern Community Bancorp" to be
effected through a corporate reorganization in which the Bank will become a
wholly-owned subsidiary of First Northern Community Bancorp (the Company).
The reorganization was effected on May 19, 2000.
The unaudited condensed consolidated financial statements include the
accounts of the Company and its subsidiary from as if the Company had been
in existence during all periods presented. All material intercompany
accounts have been eliminated in consolidation.
3. RECLASSIFICATIONS
Certain reclassifications have been made to the 1999 financial statements
to conform with the 2000 presentation.
4. OUTSTANDING SHARES AND EARNINGS PER SHARE
On January 20, 2000, the Board of Directors of the First Northern Bank of
Dixon declared a 6% stock dividend payable as of March 31, 2000. All
income per share amounts have been adjusted to give retroactive effect to
the stock dividend.
Earnings Per Share (EPS)
Basic and diluted earnings per share for the three-month and six-month
periods ending June 30, 2000 and June 30, 1999 were computed as follows:
<TABLE>
<CAPTION>
Three months Six months
ended June 30, ended June 30,
2000 1999 2000 1999
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Basic earnings per share:
Net income $ 1,169,439 $ 951,804 $ 2,291,879 $ 1,680,233
-----------------------------------------------------------------------------------------------------------------------------
Denominator:
Weighted average common shares
outstanding 3,217,944 3,275,226 3,241,747 3,275,600
-----------------------------------------------------------------------------------------------------------------------------
Basic EPS $ 0.36 $ 0.29 $ 0.71 $ 0.51
=============================================================================================================================
Diluted earnings per share:
Net income $ 1,169,439 $ 951,804 $ 2,291,879 $ 1,680,233
-----------------------------------------------------------------------------------------------------------------------------
Denominator:
Weighted average common shares
outstanding 3,217,944 3,275,226 3,241,747 3,275,600
Incremental shares due to
dilutive stock options 25,151 5,045 23,615 3,651
-----------------------------------------------------------------------------------------------------------------------------
3,243,095 3,280,271 3,265,362 3,279,251
-----------------------------------------------------------------------------------------------------------------------------
Diluted EPS $ 0.36 $ 0.29 $ 0.70 $ 0.51
=============================================================================================================================
</TABLE>
5
<PAGE>
5. ALLOWANCE FOR LOAN LOSSES
The allowance for loan losses is maintained at levels considered adequate
by management to provide for possible loan losses. The allowance is based
on management's assessment of various factors affecting the loan portfolio,
including problem loans, business conditions and loss experience, and an
overall evaluation of the quality of the underlying collateral. Changes in
the allowance for loan losses during the three months ended June 30, 2000
and 1999 and for the year ended December 31, 1999 were as follows:
<TABLE>
<CAPTION>
Six months ended Year ended
June 30, December 31,
2000 1999 1999
-------------- -------------- ---------------
<S> <C> <C> <C>
Balance, beginning of period $ 7,825,255 $ 8,144,450 $ 8,144,450
Provision for (recovery of) loan losses - 75,000 (800,000)
Loan charge-offs (334,320) (82) (156,945)
Loan recoveries 66,366 53,090 637,750
-------------- -------------- ---------------
Balance, end of period $ 7,557,301 $ 8,272,458 $ 7,825,255
============== ============== ===============
</TABLE>
ITEM 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RELULTS OF OPERATIONS
The following is a discussion and analysis of the significant changes in the
Unaudited Condensed Consolidated Balance Sheets and of the significant changes
in income and expenses reported in the Unaudited Condensed Consolidated
Statements of Income and Comprehensive Income for the three month and six month
periods ended June 30, 2000 and 1999.
SUMMARY
The Company recorded net income of $2,292,000 for the six month period ended
June 30, 2000, representing an increase of $612,000 or 36.4% over $1,680,000 for
the same period in 1999 and had net income of $1,169,000 for the three months
ended 6/30/00 representing an increase of $217,000 or 22.1% over $952,000 for
the same period in 1999.
The increase in net income over the six month period ended June 30, 2000 as
compared to the same period a year ago, resulted primarily from an increase in
net interest income and other operating income combined with decreases in the
provision for loan losses and other real estate expense which was partially
offset by increases in salaries and benefits, occupancy and equipment,
stationery and supplies, advertising and other miscellaneous expense.
The increase in net income over the three month period ended June 30, 2000 as
compared to the same period a year ago, resulted primarily from an increase in
net interest income and other operating income combined with a decrease in other
real estate expense which was partially offset by increases in salaries and
benefits, stationery and supplies and occupancy and equipment.
On January 20, 2000, the Board of Directors of the First Northern Bank of Dixon
declared a 6% stock dividend payable as of March 31, 2000. All income per share
amounts have been adjusted to give retroactive effect to the stock dividend.
6
<PAGE>
CHANGES IN FINANCIAL CONDITION
The asset side of the Unaudited Condensed Consolidated Balance Sheet showed a
$11,154,000 increase in cash and due from banks, a $22,400,000 decrease in fed
funds sold, a $3,183,000 decrease in investment securities, a $24,384,000
increase in loans, a $129,000 increase in premises and equipment and a $461,000
decrease in accrued interest receivable and other assets from December 31, 1999
to June 30, 2000. The reason for the increase in cash and due from banks was
due, for the most part, to an increase in items in the process of collection
which was partially offset by decreases in cash and the Federal Reserve Bank due
from account. The decrease in fed funds sold was due, for the most part, to
funding of new loans. The decrease in investment securities was due to
maturities and calls, the proceeds of which were used to fund new loans. The
increase in loans was, for the most part, in commercial and real estate loans.
The liabilities side of the Unaudited Condensed Balance Sheet showed an increase
in total deposits of $10,026,000 compared to year-end 1999 deposit totals. The
increase in deposits was due, for the most part, to higher demand and money
market deposit totals combined with lower savings and certificate totals. Other
liabilities decreased $144,000 from December 31, 1999 to June 30, 2000. The
decrease in other liabilities was due, for the most part, to decreases in
accrued expenses.
CHANGES IN RESULTS OF OPERATIONS
Interest Income
---------------
Interest income on loans for the six month period ended June 30, 2000 is up
10.5% over the same period for 1999, from $7,671,000 to $8,475,000 and is up
12.4% for the three month period ending June 30, 2000 over the same period in
1999 from $3,976,000 to $4,471,000. The increase over the six month period
ended June 30, 2000 as compared to the same period a year ago, was due to an
increase in average loans combined with a .15% increase in loan yields. The
increase over the three month period ending June 30, 2000 as compared to the
same period a year ago, was due to an increase in average loans, combined with a
.10% increase in loan yields.
Interest income on securities for the six month period ended June 30, 2000 is up
16.5% over the same period for 1999, from $3,716,000 to $4,328,000 and is up
17.8% for the three month period ending June 30, 2000 over the same period in
1999 from $1,860,000 to $2,191,000. The increases are due to an increase in
average securities over the six-month and three-month periods ended June 30,
2000, as compared to the same period a year ago combined with increases in
securities yields.
Interest income on fed funds sold for the six month period ended June 30, 2000
is up 49.1% over the same period for 1999 from $570,000 to $851,000 and is up
12.5% for the three month period ending June 30, 2000 over the same period in
1999 from $293,000 to $329,000. The increase in fed funds income over the three
month and nine month periods ended June 30, 2000 was due, for the most part, to
increases in average fed funds sold combined with increases in fed funds rates.
Interest Expense
----------------
Interest expense on deposits was up 12.5% for the six month period ending June
30, 2000 over the same period in 1999 from $3,760,000 to $4,231,000 and is up
14.9% for the three month period ending June 30, 2000 over the same period in
1999 from $1,867,000 to $2,145,000. The increased interest expense over the
three-month period ended June 30, 2000 was due to higher deposit rates combined
with increased average deposits.
Provision for Loan Losses
-------------------------
The provision for loan losses was down for the six month period ending June 30,
2000 over the same period in 1999 from $75,000 to $-0-. The decrease over the
six month period ended June 30, 2000 was due to a zero provision for that period
due to improved market conditions and loan quality in the Company's loan
portfolio. The June 30, 2000 allowance for loan losses of approximately
$7,557,000 is 3.9% of total loans compared to $7,825,000 or 4.6% of total loans
at December 31, 1999.
Other Operating Income
----------------------
Other operating income was up 4.1% for the six-month period ended June 30, 2000
over the same period in 1999 from $1,458,000 to $1,518,000. This increase was
primarily due to an increase in service charges on deposit accounts including
higher overdraft charges primarily due to the effect of new fee structures that
were implemented in the second quarter of 2000, alternative investment fees, and
debit card fees, which was partially offset by decreases in gains on sales of
loans and gains on securities transactions.
Other operating income was up 15.7% for the three-month period ended June 30,
2000 over the same period in 1999 from $765,000 to $885,000. This increase was
primarily due to increases in service charges on deposit accounts including
higher overdraft charges primarily due to the effect of new fee structures that
were implemented in the second quarter of 2000, alternative investment fees, and
debit card fees, which was partially offset by decreases in gains on sales of
loans, gains on OREO and gains on securities transactions.
7
<PAGE>
Other Operating Expense
-----------------------
Total other operating expense was up 6.6% for the six-month period ending June
30, 2000 over the same period in 1999 from $7,076,000 to $7,540,000 and is up
8.7% for the three-month period ending June 30, 2000 over the same period in
1999 from $3,582,000 to $3,891,000.
The main reason for the increase for the six month period ending June 30, 2000
was a combination of: increases in salaries & benefits; occupancy and equipment;
stationery and supplies; advertising; and other miscellaneous expenses, combined
with a decrease in other real estate expense. The increase in salaries &
benefits was due to increases in the number of employees and increases in profit
sharing and incentive compensation provisions due to increased income which was
partially offset by decreases in commissions for real estate loans. The increase
in occupancy and equipment was due to purchases of computer software and
hardware. The increase in stationery and supplies was due, for the most part, to
timing differences. The increase in advertising was due, for the most part, to
timing differences. The decrease in other real estate expense was due to the
reduction of OREO properties. The increases in other miscellaneous expenses were
due to increased contributions, FDIC insurance, dues, legal fees, and accounting
and audit fees, which were partially, offset by decreased consulting fees and
real estate loan origination fees.
The main reason for the increase for the three month period ending June 30, 2000
was a combination of: increases in salaries & benefits, combined with decreases
in other real estate expense and other miscellaneous expenses. The increase in
salaries & benefits was due to increases in the number of employees and
increases in profit sharing and incentive compensation provisions due to
increased income which was partially offset by decreases in commissions for real
estate loans. The decrease in other real estate expense was due t the reduction
of OREO properties. The increase in other miscellaneous expenses was due to
increased contributions, FDIC insurance, dues, legal fees, and accounting and
audit fees which was partially offset by decreased consulting fees and real
estate loan origination fees.
Asset Quality
-------------
The Company manages asset quality and credit risk by maintaining diversification
in its loan portfolio and through review processes that include analysis of
credit requests and ongoing examination of outstanding loans and delinquencies,
with particular attention to portfolio dynamics and mix. The Company strives to
identify loans experiencing difficulty early enough to correct the problems, to
record charge-offs promptly based on realistic assessments of current collateral
values, and to maintain an adequate allowance for loan losses at all times.
It is generally the Company's policy to discontinue interest accruals once a
loan is past due as to interest or principal payments for a period of ninety
days. When a loan is placed on non-accrual, interest accruals cease and
uncollected accrued interest is reversed and charged against current income.
Payments received on non-accrual loans are applied against principal. A loan
may only be restored to an accruing basis when it again becomes well secured and
in the process of collection or all past due amounts have been collected.
Non-accrual loans amounted to $1,500,000 at June 30, 2000, and were comprised of
seven commercial loans and two agricultural loans. At December 31, 1999, non-
accrual loans amounted to $528,000 and were comprised of four agricultural
loans, and one commercial loan. At June 30, 1999, non-accrual loans amounted to
$848,000 and were comprised of one non-farm non-residential mortgage loans, one
commercial loan, one agricultural loan.
At June 30, 2000, the Company had loans 90 days past due and still accruing
totaling $2,000. Such loans amounted to $2,000 at December 31, 1999 and
$135,000 at June 30, 1999.
At June 30, 2000, the Company did not have any OREO properties. OREO's amounted
to $-0- at December 31, 1999 and $906,000 at June 30, 1999.
Liquidity and Capital Resources
-------------------------------
To be able to serve our market area, the Company must maintain proper liquidity
and adequate capital. Liquidity is measured by various ratios, with the most
common being the ratio of loans to deposits. This ratio was 54.2% on June 30,
2000. In addition, on June 30, 2000 the Company had the following short term
investments: $14,900,000 in fed funds sold; $12,000,000 in securities due
within one year; and $64,000,000 in securities due in one to five years.
To meet unanticipated funding requirements, the Company maintains short term
lines of credit with other banks totaling $14,700,000.
Capital adequacy is generally measured by comparing the total of equity capital
and reserve for loan losses to total assets. On June 30, 2000 this ratio was
10.3% and on December 31, 1999 it was 10.8%. These figures are well above the
levels currently considered adequate by bank regulators.
The Company's primary source of liquidity on a stand-alone basis is dividends
from the Bank. Dividends from the Bank are subject to regulatory restrictions.
8
<PAGE>
Year 2000 Compliance
--------------------
The Company previously recognized the material nature of the business issues
surrounding computer processing of dates into and beyond the Year 2000 and began
taking corrective action as required pursuant to the interagency statements
issued by the Financial Institutions Examination Council. Management believes
the Company has completed all of the activities within their control to ensure
that the Company's systems are Year 2000 compliant.
The Company's Year 2000 readiness costs were approximately $400,000. The
Company does not currently expect to apply any further funds to address Year
2000 issues.
The Company has not experienced any material disruptions of internal computer
systems for software applications due to the start of the Year 2000 nor has it
experienced any problems with the computer systems or software applications of
their third party vendors, suppliers or service providers. The Company will
continue to monitor these third parties to determine the impact, if any, on the
business of the Company and the actions either must take, if any, in the event
of non-compliance by any of these third parties. Based on the Company's
assessment of compliance by third parties there does not appear to be any
material business risk posed by any such non-compliance.
Although the Company's Year 2000 rollover did not present any material business
disruption, there are some remaining Year 2000 related risks. Management
believes that appropriate actions have been taken to address these remaining
Year 2000 issues and contingency plans are in place to minimize the financial
impact to the Company. Management, however, cannot be certain that Year 2000
issues affecting customers, suppliers or service providers of the Company will
not have a material adverse impact on the Company.
ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
There have been no material changes in the quantitative and qualitative
disclosures about market risks as of June 30, 2000 from that presented in the
First Northern Bank of Dixon's Annual Report on Form 10-K for the fiscal year
ended December 31, 1999.
9
<PAGE>
PART II - OTHER INFORMATION AND SIGNATURES
ITEM 1.
Legal Proceedings
Not Applicable.
ITEM 2.
Changes in Securities
Not Applicable.
ITEM 3.
Defaults upon Senior Securities
Not Applicable.
ITEM 4.
Submission of Matters to a Vote of Security Holders
Not Applicable.
ITEM 5.
Other Information
Not Applicable.
ITEM 6.
Exhibits and Reports on Form 8-K.
Exhibit 27 Financial Data Schedule
There were no Reports on Form 8-K.
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 thereunto duly authorized to sign on behalf of the registrant.
FIRST NORTHERN COMMUNITY BANCORP
Date: August 11, 2000 By: /s/ Louise A. Walker
-------------------------- --------------------------------------
Louise A. Walker, Sr. Vice President/
Chief Financial Officer
10
