First Northern Community Bancorp (OTCQX: FNRN), the parent company of First Northern Bank, has announced a new stock repurchase program for its outstanding common stock. This decision, approved by the Board of Directors on March 26, 2026, allows for the repurchase of up to 6% of the company's 16,409,660 outstanding shares, which translates to approximately 984,579 shares eligible for repurchase. The program is set to commence on May 1, 2026, and will remain in effect until April 30, 2028, unless terminated sooner. The repurchase program is designed to enhance shareholder value and is expected to be executed in accordance with SEC regulations, specifically Rule 10b-18, which governs the timing, price, manner, and volume of stock repurchases. The Board has determined that the maximum aggregate repurchases will not impair the capital of the company, indicating a strong financial position. At the closing price of $15.85 per share on March 26, 2026, the total consideration for all eligible shares would amount to approximately $15.6 million. Jeremiah Smith, President and CEO of First Northern Community Bancorp, emphasized that this program reflects the company's commitment to disciplined capital management and maximizing long-term shareholder value. The stock repurchase initiative is expected to provide management with an effective tool for capital management, increase return on equity for existing shareholders, and enhance market liquidity for its common shares. This strategic move is anticipated to positively impact the company's stock performance in the coming years.

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