First Northern Community Bancorp Welcomes Richard A. Bedoya to Its Board of Directors
Mr. Bedoya is a seasoned business leader and entrepreneur with more than 30 years of experience spanning the automotive and agricultural industries. He currently serves as Owner and Partner at DuPratt Ford Auburn, where he brings decades of expertise in fixed operations, customer satisfaction, and business development. In addition, Mr. Bedoya is the Owner and CEO of Dixon Bee Company and the Owner of Bedoya Orchards, businesses that reflect his commitment to sustainable agriculture and innovation.
'Richard's extensive business acumen and deep roots in our communities make him an exceptional addition to our Board,' said Jeremiah Smith, President and Chief Executive Officer of First Northern Community Bancorp and First Northern Bank. 'His leadership, strategic insight, and dedication to community service align perfectly with First Northern's mission of serving our customers and communities with integrity and excellence.'
Throughout his career, Mr. Bedoya has earned a reputation for driving growth, fostering long-term client relationships, and building high-performing teams. He has dedicated over two decades to community service, including serving as a life member and past president of the Dixon Lions Club, and volunteering in leadership roles with Davis Little League, Dixon Dolphins Swim, Dixon Rugby, and the Dixon High School Quarterback Club. He also serves on the advisory board for automotive technology at Cosumnes River College, supporting the advancement of technical education and workforce readiness.
'I am honored to join First Northern Bank's Board of Directors,' said Mr. Bedoya. 'I look forward to contributing my experience and passion to help guide the Bank's continued growth and its commitment to increasing shareholder value.'
The other nine members of First Northern Bank's Board of Directors include: Sean P. Quinn of Fairfield (Chairman), Richard M. Martinez of Dixon (Vice Chairman), Patrick R. Brady of Roseville, John M. Carbahal of Winters, Gregory DuPratt of Dixon, Barbara A. Hayes of Sacramento, Richard M. Martinez and Jeremiah Z. Smith of West Sacramento, and Louise A. Walker of Dixon.
About First Northern Bank
First Northern Bank is an independent community bank that specializes in relationship banking. The Bank, headquartered in Solano County since 1910, serves Solano, Yolo, Sacramento, Placer, Colusa, and Glenn counties, as well as 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. Real estate mortgage and small-business loan officers are available by appointment at any of the Bank's 14 branches, including Dixon, Davis, West Sacramento, Fairfield, Vacaville, Winters, Woodland, Sacramento, Roseville, Auburn, Rancho Cordova, Colusa, Willows, and Orland. Non-FDIC insured Investment and Brokerage Services are also available at every branch location. First Northern Bank is rated as a Veribanc 'Green-3 Star Blue Ribbon' Bank and a '5-Star Superior' Bank by Bauer Financial for the earnings period ended March 31, 2025 (www.veribanc.com) and (www.bauerfinancial.com). For additional information, please visit thatsmybank.com or call (707) 678-7742. Member FDIC. Equal Housing Lender.
Forward-Looking Statements
This press release and other public statements may include certain 'forward-looking statements' about First Northern Community Bancorp and its subsidiaries (the 'Company'). These forward-looking statements are based on management's current expectations, including but not limited to statements about the Company's performance and strategic initiatives, and focus on improving shareholder value, 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 and 10-Q, 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, and any reports on Form 8-K. 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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hamilton Spectator
2 days ago
- Hamilton Spectator
ThreeD Capital Inc. Announces Private Placement Financing
TORONTO, July 25, 2025 (GLOBE NEWSWIRE) — ThreeD Capital Inc. ('ThreeD' or the 'Company') (CSE:IDK / OTCQX:IDKFF) a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, is pleased to announce terms to a proposed private placement financing (the 'Private Placement'). The Private Placement will consist of the sale of up to 10,500,000 units of the Company ('Units') at a price of $0.06 per Unit, for total gross proceeds raised of $630,000. Each Unit is comprised of one common share and one common share purchase warrant (a 'Warrant'). Each whole Warrant entitles the holder thereof to acquire one common share of the Company at an exercise price of $0.15 per common share for a period of 60 months. No commission or finders' fees are expected paid as part of the Private Placement. All securities issued and issuable in connection with the Private Placement will be subject to a four-month and a day hold period. Proceeds received from the Private Placement are intended to be used for general working capital purposes and purchase of investments. In connection with the Private Placement, certain directors of the Company (collectively the 'Insiders'), intend to purchase a total of 10,500,000 Units. Insiders' participation in the Private Placement constitutes a 'related party transaction' pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Company is relying on the exemption from the valuation and minority shareholder approval requirements under MI 61-101, as the fair market value of the Insiders' participation in the Private Placement does not exceed 25% of the market capitalization of the Company. The Private Placement remains subject to the approval of the Canadian Securities Exchange. About ThreeD Capital Inc. ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD's investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company's ecosystem. For further information: Matthew Davis, CPA Chief Financial Officer and Corporate Secretary info@ Phone: 416-941-8900 The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof. Forward-Looking Statements This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as 'forward-looking statements') within the meaning of Canadian securities laws including, without limitation, statements with respect to the future investments by the Company. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although the Company believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
Business Wire
2 days ago
- Business Wire
KBRA Comments on Colony Bankcorp, Inc.'s Proposed Acquisition of TC Bancshares, Inc.
NEW YORK--(BUSINESS WIRE)--On July 23, 2025, Fitzgerald, GA-based Colony Bankcorp, Inc. (NYSE: CBAN) ("Colony"), parent company of Colony Bank, and Thomasville, GA-based TC Bancshares (OTCQX: TCBC) ('TC Bancshares'), parent company of TC Federal Bank, jointly announced that they had entered into a definitive agreement pursuant to which TC Bancshares, Inc. would merge with and into Colony Bankcorp, Inc., and TC Federal Bank would merge with and into Colony Bank. The transaction, valued at $86.1 million (P/TBV: 1.1x), is 80% stock and 20% cash consideration and is expected to close in 4Q25 pending regulatory approval. Under the agreement, Greg Eiford, TC Bancshares' President and CEO, would be joining CBAN as an Executive VP and Chief Community Banking Officer. In our view, the proposed acquisition is in line with Colony's overall growth strategy of expansion into contiguous markets through both acquisitive and organic means. The transaction allows CBAN to expand its footprint in Georgia, notably, in Thomasville and the Savannah MSA, in addition to Tallahasse and Jacksonville, Florida, while providing solid opportunities for commercial growth and expansion of its fee-based business lines and continuing focus on its commitment to community banking. The acquisition is expected to add approximately $571 million in assets to CBAN's balance sheet at close, with proforma $3.8 billion in total assets, $2.4 billion in loans, and $3.1 billion in deposits, as well as adding 4 branch locations. The combined company's pro forma financial projections include strong profitability metrics following the close of the transaction, in part, due to expected cost savings of approximately 33% of TCBC's operating base. In addition to the cost savings, earnings should receive a temporary boost from accretion income, with CBAN reporting an estimated $13.3 million in interest rate marks on the loan portfolio. Regarding credit quality, both institutions have reflected solid asset quality performance over time, including nominal credit loss history, which is underpinned by disciplined underwriting and conservative management teams that have extensive knowledge of operating markets. The proforma loan portfolio is not expected to change materially as both institutions have complementary loan mixes, with investor CRE remaining the largest component at ~32% of total loans (including multifamily), followed by C&I (including owner-occupied CRE) at ~25%, and residential mortgage at 22%. CBAN conducted a review of the loan portfolio (67% of loans) and expects to record a total gross pre-tax credit mark of $4 million (1%) along with a Day 2 CECL adjustment of $2 million in relation to the transaction. With respect to deposit mix, TCBC maintains a deposit base concentrated in interest-bearing deposits resulting in somewhat elevated deposit costs of 2.45%. That said, NIB deposits are solid at 15% of total deposits as of 2Q25. Furthermore, Colony has managed solid capital metrics with a CET1 ratio of 12.3% at 2Q25, and management anticipates this ratio to improve to 12.5% at closing. Overall, we believe that the proposed acquisition complements CBAN's growth strategy, and while there is an inherent level of integration risk involved with any bank M&A transaction, such risk is somewhat mitigated by management's previous M&A integration experience. About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions. Doc ID: 1010527
Yahoo
2 days ago
- Yahoo
Wall Street's Bubble Warning: Is This Euphoria About to Explode?
US stocks keep powering higher, brushing off trade risks and policy uncertainty. Tesla (NASDAQ:TSLA) and other megacaps are riding strong earnings momentum and tax-saving tailwinds, with bulls like Morgan Stanley's Michael Wilson pointing to solid operating leverage and resilient fundamentals. From the outside, everything looks golden. But zoom in, and some cracks are forming beneath the surfaceand a few of Wall Street's sharpest voices are sounding the alarm. Warning! GuruFocus has detected 7 Warning Signs with TSN. Bank of America's Michael Hartnett says we might be stepping into bubble territory. His team points out that the global policy rate has dropped from 4.8% to 4.4% in the past year, and could sink further to 3.9% in the next 12 months. At the same time, the US is looking to ease regulations and boost retail participation in the market. That combolooser money and looser ruleshas Hartnett warning of bigger retail, bigger liquidity, bigger volatility, bigger bubble. It's a potent setup that could trigger wild swings ahead. And he's not alone. JPMorgan and UBS strategists are also warning investors not to get too comfortable. With rate cuts on the table and market sentiment running hot, Hartnettwho nailed the international outperformance call earlier this yearis doubling down on his bubble thesis. After his December warning, the S&P 500 (SPY) dropped as much as 18% before rebounding. With the Fed's next move just around the corner, investors may want to tread carefully. This rally might still have legsbut it's also starting to wobble. This article first appeared on GuruFocus. Sign in to access your portfolio
