Tuesday 24 January 2023

US-based bank holding company First Northern Community Bancorp (OTCQB: FNRN), holding company for First Northern Bank, has closed the acquisition of three Columbia State Bank branches in Orland, Willows, and Colusa, California, the company said.

The acquired branches were divested by Columbia Bank in connection with the pending merger of Columbia Banking System, Inc., the parent company of Columbia Bank, and Umpqua Holdings Corp.

Following the acquisition, all employees of these branches were retained by First Northern Bank and the branches will remain in operation as branches of First Northern Bank.

The bank, headquartered in Solano County since 1910, now operates 14 full-service branches serving Solano, Yolo, Sacramento, Placer, Contra Costa, Glenn, Colusa, and the west slope of El Dorado County.

First Northern Community Bancorp received financial advisory services from Panoramic Capital Advisors, Inc., and Pillsbury Winthrop Shaw Pittman LLP served as legal counsel in connection with the transaction.

First Northern Bank is an independent community bank that specializes in relationship banking.

The bank, headquartered in Solano County since 1910, now serves Solano, Yolo, Sacramento, Placer, Contra Costa, Glenn, Colusa, and the west slope of El Dorado County. Experts are available in small-business, commercial, real estate and agribusiness lending, as well as mortgage loans.

The bank is an SBA Preferred Lender. Non-FDIC insured Investment and Brokerage Services are available at every branch location, including Dixon, Davis, West Sacramento, Fairfield, Vacaville, Winters, Woodland, Sacramento, Roseville, Auburn, Rancho Cordova, Colusa, Willows and Orland.

The bank also has a commercial lending office in Walnut Creek. Real estate mortgage and small-business loan officers are available by appointment in any of the Bank's 14 branches.

First Northern is rated as a Veribanc "Blue Ribbon" Bank and a "5-Star Superior" Bank by Bauer Financial for the earnings period ended September 30, 2022 (veribanc.com) and (bauerfinancial.com).