First Northern Community Bancorp (FNRN.OB) today announced that Owen J. Onsum, 66, is retiring as President & Chief Executive Officer, effective at the end of 2010. Mr. Onsum, a 39-year veteran of First Northern Bank, was appointed to the Board of Directors in 1996 and elevated to the position of President & CEO in 1997. He will remain a member of the Board of Directors post retirement.
Owen J. Onsum and Louise A. Walker (Photo: Business Wire)
When Onsum joined First Northern Bank in 1972, the Bank had $17 million in total assets and two bank branches. During his tenure as President & CEO, he led the Company from $265 million in total assets to $727 million today. Other accomplishments attained under Onsum’s leadership have included: Internet Banking, the Company’s SBA Loan Department, Asset Management & Trust Department, the expansion of both the Bank’s Real Estate Mortgage operation and Investment & Brokerage Services, as well as new branches in Woodland, Downtown Vacaville, Roseville, Downtown Sacramento, Auburn, and a satellite banking office in Davis’ University Retirement Community.
Louise A. Walker, the Company’s Senior Executive Vice President & Chief Financial Officer will replace Onsum as President & CEO; she will also become a member of the Board of Directors. Ms. Walker joined First Northern Bank in 1979 and has been a member of Senior Management since 1989. During her career, she has held a variety of positions which included head of Operations and Data Processing and the oversight of Human Resources, Risk Management, Compliance, Accounting and Finance. “Her experience, energy, intellectual capacity, and steadiness make her the perfect choice as my successor,” says John Onsum. “I have every confidence in Louise’s capability to lead First Northern Community Bancorp through the remainder of the current economic cycle and well into the Company’s next couple of decades.”