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First Northern Community Bancorp (OTC:FNRN), a profitable community bank with a market capitalization of $150 million and a price-to-book ratio of 0.8, announced a change in its auditing firm following a merger involving its current auditor. On June 3, 2025, the company was notified that its independent registered public accounting firm, Moss Adams LLP, merged with Baker Tilly US, LLP. As a result of this merger, Moss Adams resigned as the company’s auditor, and the audit practices are now operating under Baker Tilly US, LLP. According to InvestingPro, the company maintains a GOOD overall financial health score, suggesting strong operational stability.
The Audit Committee of First Northern Community Bancorp’s Board of Directors approved the appointment of Baker Tilly as the company’s new independent registered public accounting firm. The audit reports from Moss Adams for the years ending December 31, 2024, and 2023, were not modified or qualified, indicating no adverse opinions or disclaimers. Trading at a P/E ratio of 8.2, the company has demonstrated consistent profitability with earnings per share of $1.21 over the last twelve months.
During the periods mentioned, there were no disagreements between First Northern Community Bancorp and Moss Adams regarding accounting principles, practices, or financial statement disclosures. Additionally, there were no reportable events requiring disclosure under SEC regulations.
The company has not consulted with Baker Tilly on any accounting matters or audit opinions prior to this appointment. First Northern Community Bancorp provided Moss Adams with a copy of the SEC filing and requested a letter confirming agreement with the statements made in the filing. Moss Adams’ letter, dated June 6, 2025, is included as an exhibit in the filing.
This information is based on a press release statement filed with the Securities and Exchange Commission.
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