Northeast Bancorp

Northeast Bank (Maine) engages in offering personal and business banking services. The company provides commercial loans nationally secured by all types of real estate, equipment or other business assets, including government guaranteed loans. It also provides a full range of business banking services, from banking accounts to financing options to cash management. The company was founded in 1872 and is headquartered in Portland, ME.

Earnings data Q3 2021

Earnings data Q4 2021

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NBN reports record net income and eyes growth opportunities

NBN reported strong financial performance, with record net income, improved asset quality metrics, and increased revenue. While facing challenges in managing expenses and regional loan concentration, the bank has opportunities to capitalize on the FDIC's intent to sell a large loan portfolio and strengthen its deposit base. Overall, NBN's Q1 2023 earnings call reflects a solid performance with potential for growth.

Northeast Bancorp posts strong Q2 earnings amidst strategic growth plans

Northeast Bancorp delivered strong financial results in Q2 2023, driven by robust net income and efficient asset utilization.
While facing challenges such as increasing expenses and deposit costs, the company has strategic opportunities for growth and optimization.
By focusing on loan purchases, capital raising, and operational efficiency, Northeast Bancorp aims to navigate challenges and capitalize on opportunities.
The company's performance and strategic initiatives position it well for future growth and profitability in the banking sector.

Northeast Bancorp achieves record earnings amidst stable deposits and challenges

Northeast Bancorp delivered a strong quarter with record net income and stable customer deposits.
The bank's focus on asset quality and expense management contributed to its financial performance.
Challenges include lower loan volumes and potential impacts on net interest income.
Opportunities lie in growth potential through loan origination, partnerships, and customer expansion.

Northeast Bancorp reports strong Q4 performance amidst asset quality concerns

Northeast Bancorp delivered a strong financial performance in Q4 2023, driven by robust loan activity and healthy profitability metrics.
While facing challenges in asset quality and cost management, the bank showcased proactive strategies and readiness for regulatory changes.
Opportunities exist in exploring larger deals, enhancing risk management, and optimizing operational efficiency for sustainable growth.
Investors should monitor asset quality trends, cost control measures, and strategic initiatives for insights into Northeast Bancorp's future performance.

Northeast Bancorp reports robust Q1 earnings amidst growth opportunities

Northeast Bancorp's Q1 2024 performance reflects strong financial metrics, robust asset quality, and strategic focus on loan purchases.
While facing challenges such as deposit cost pressures and accounting standard changes, the company remains well-positioned for growth.
Opportunities in the loan purchase market and proactive risk management post-CECL adoption signal a positive outlook for Northeast Bancorp.

Northeast Bancorp posts robust Q2 earnings amidst leadership transition

Northeast Bancorp delivered a strong financial performance in Q2 2024, marked by solid loan volume and healthy profitability metrics. Despite challenges such as increased expenses and changes in leadership, the company remains well-positioned with opportunities to capitalize on market dynamics and optimize its lending operations.

Northeast Bancorp posts strong Q3 results, eyes growth in lending

Northeast Bancorp delivered a strong performance in Q3 2024, supported by robust net income, solid asset quality, and efficient cost management. The bank's focus on lender finance loans and strategic capital-raising activities underpin its growth trajectory.
While facing challenges related to cost pressures and market dynamics, Northeast Bancorp remains well-positioned to leverage opportunities in loan purchases and the lender finance space. Maintaining a balance between growth and risk management will be crucial for sustained performance.
Overall, Northeast Bancorp's Q3 earnings call highlights its resilience in a competitive market environment, with a strategic focus on optimizing revenue streams, managing expenses, and seizing growth opportunities in the lending sector.

Northeast Bancorp excels in Q1 2025 earnings, eyes growth opportunities

Northeast Bancorp delivered a strong performance in Q1 2025, driven by robust loan production and diversified revenue streams.
The company showcased strengths in loan purchases, real estate originations, and effective risk management strategies.
While facing challenges in margin maintenance and operational efficiency, Northeast Bancorp has opportunities to expand SBA loans, explore new markets, and optimize strategies for growth.

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Northeast Bank (NASDAQ:NBN ) Q2 2023 Earnings Conference Call January 26, 2023 10:00 AM ET Company Participants Rick Wayne - President and CEO JP Lapointe - SVP and CFO Conference Call Participants Alex Twerdahl - Piper Sandler Operator Welcome to the Northeast Bank Second Quarter FY 2023 Earnings Call. My name is Kevin, and I'll be your operator for today's call.

Northeast Bank (NBN) Q2 2023 Earnings Call Transcript

PORTLAND, Maine, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $11.3 million, or $1.54 per diluted common share, for the quarter ended December 31, 2022, compared to net income of $11.4 million, or $1.42 per diluted common share, for the quarter ended December 31, 2021. Net income for the six months ended December 31, 2022 was $19.6 million, or $2.65 per diluted common share, compared to $21.3 million, or $2.63 per diluted common share, for the six months ended December 31, 2021. Net income per diluted common share excluding correspondent fee income would be $1.48 and $0.90 for the three months ended December 31, 2022 and 2021, respectively, and $2.46 and $1.43 for the six months ended December 31, 2022 and 2021, respectively.

Northeast Bank Reports Second Quarter Results, including Record Purchases, and Declares Dividend

PORTLAND, Maine, Jan. 20, 2023 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2023 second quarter earnings results on Wednesday, January 25, 2023. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Thursday, January 26, 2023. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, JP Lapointe, Chief Financial Officer, and Pat Dignan, Executive Vice President and Chief Operating Officer.

Northeast Bank Announces Dates for Fiscal 2023 Second Quarter Earnings Results and Conference Call

PORTLAND, Maine, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that it has entered into an equity distribution agreement with Piper Sandler & Co. (“Piper Sandler”) for the offer and sale from time to time of shares of its voting common stock having an aggregate offering price of up to $50,000,000.00 (the “Shares”) in an at-the-market offering. All of the Shares to be sold in the offering will be offered by the Bank.

Northeast Bank Announces Commencement of At-the-Market Offering of Voting Common Stock

Northeast Bank (NASDAQ:NBN ) Q1 2023 Earnings Conference Call November 1, 2022 10:00 AM ET Company Participants Rick Wayne - President & CEO Jean-Pierre Lapointe - CFO Pat Dignan - EVP & Chief Credit Officer Conference Call Participants Alexander Twerdahl - Piper Sandler Operator Welcome to the Northeast Bank First Quarter Fiscal Year 2023 Earnings Call. My name is Shannon, and I will be your operator for today's call.

Northeast Bank (NBN) Q1 2023 Earnings Call Transcript

PORTLAND, Maine, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2023 first quarter earnings results on Monday, October 31, 2022. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Tuesday, November 1, 2022. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, JP Lapointe, Chief Financial Officer, and Pat Dignan, Executive Vice President and Chief Operating Officer.

Northeast Bank Announces Dates for Fiscal 2023 First Quarter Earnings Results and Conference Call

Northeast Bank (NASDAQ:NBN ) Q4 2022 Earnings Conference Call July 26, 2022 10:00 AM ET Company Participants Rick Wayne - President and Chief Executive Officer Jean-Pierre Lapointe - Chief Financial Officer Pat Dignan - Executive Vice President and Chief Credit Officer Conference Call Participants Alexander Twerdahl - Piper Sandler Operator Welcome to the Northeast Bank Fourth Quarter Fiscal Year 2022 Earnings Call. My name is Jenny.

Northeast Bank (NBN) CEO Rick Wayne on Q4 2022 Results - Earnings Call Transcript

PORTLAND, Maine, July 20, 2022 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2022 fourth quarter earnings results on Monday, July 25, 2022. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Tuesday, July 26, 2022. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, JP Lapointe, Chief Financial Officer, and Pat Dignan, Executive Vice President and Chief Credit Officer.

Northeast Bank Announces Dates for Fiscal 2022 Fourth Quarter Earnings Results and Conference Call

Northeast Bank (NASDAQ:NBN ) Q2 2022 Earnings Conference Call April 26, 2022 10:00 AM ET Company Participants Rick Wayne – President and Chief Executive Officer Patrick Dignan – Executive Vice President and Chief Credit Officer Jean Pierre Lapointe – Chief Financial Officer Conference Call Participants Alex Twerdahl – Piper Sandler Operator Welcome to the Northeast Bank Third Quarter Fiscal Year 2022 Earnings call. My name is Richard and I'll be your operator for today's call.

Northeast Bank (NBN) CEO Rick Wayne Q2 2022 Results - Earnings Call Transcript

PORTLAND, Maine, April 21, 2022 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that its Board of Directors has terminated its existing share repurchase program and approved a new share repurchase program, which allows for the repurchase of 1,000,000 shares of common stock, or up to $40.0 million, representing approximately 13.1% of the Bank's common stock outstanding.

Northeast Bank Announces New Share Repurchase Program

PORTLAND, Maine, April 20, 2022 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2022 third quarter earnings results on Monday, April 25, 2022. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Tuesday, April 26, 2022. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, JP Lapointe, Chief Financial Officer, and Pat Dignan, Executive Vice President and Chief Credit Officer.

Northeast Bank Announces Dates for Fiscal 2022 Third Quarter Earnings Results and Conference Call

PORTLAND, Maine, Jan. 21, 2022 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2022 second quarter earnings results on Wednesday, January 26, 2022. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Thursday, January 27, 2022. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, JP Lapointe, Chief Financial Officer, and Pat Dignan, Executive Vice President and Chief Credit Officer.

Northeast Bank Announces Dates for Fiscal 2022 Second Quarter Earnings Results and Conference Call

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Northeast Bank (NBN) CEO on Rick Wayne Q1 2022 Results - Earnings Call Transcript

Northeast Bank (NASDAQ:NBN) reported its Q1 earnings results on Wednesday, October 27, 2021 at 04:00 PM. Here's what investors need to know about the announcement.

Recap: Northeast Bank Q1 Earnings

PORTLAND, Maine, Oct. 22, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2022 first quarter earnings results on Wednesday, October 27, 2021. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Thursday, October 28, 2021. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, JP Lapointe, Chief Financial Officer, and Pat Dignan, Executive Vice President and Chief Credit Officer.

Northeast Bank Announces Dates for Fiscal 2022 First Quarter Earnings Results and Conference Call

Northeast Bank's (NBN) CEO on Rick Wayne Q4 2021 Results - Earnings Call Transcript

PORTLAND, Maine, July 28, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $21.4 million, or $2.54 per diluted common share, for the quarter ended June 30, 2021, compared to net income of $11.2 million, or $1.33 per diluted common share, for the quarter ended June 30, 2020. Net income for the year ended June 30, 2021 was $71.5 million, or $8.55 per diluted common share, compared to $22.7 million, or $2.53 per diluted common share, for the year ended June 30, 2020. Net income for the quarter and year ended June 30, 2021 included $12.6 million and $46.7 million, respectively, of net gains on the sale of U.S. Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) loans sold during the quarter and year ended June 30, 2021, which had an after-tax earnings per diluted common share impact of $1.06 and $3.95, respectively.

Northeast Bank Reports Fourth Quarter Results, Record Annual Earnings and Declares Dividend

PORTLAND, Maine, July 23, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2021 fourth quarter earnings results on Wednesday, July 28, 2021. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Thursday, July 29, 2021. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, JP Lapointe, Chief Financial Officer, and Pat Dignan, Executive Vice President and Chief Credit Officer.

Northeast Bank Announces Dates for Fiscal 2021 Fourth Quarter Earnings Results and Conference Call

PORTLAND, Maine, April 26, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that its Board of Directors has approved an increase to its previously approved share repurchase program from 600,000 shares to 1,000,000 shares of common stock, or up to $25.0 million, representing approximately 12.0% of the Bank's common stock outstanding.

Northeast Bank Announces Increased Share Repurchase Program

Northeast Bank's (NBN) CEO Rick Wayne on Q3 2021 Results - Earnings Call Transcript

Shares of Northeast Bank (NASDAQ:NBN) remained unaffected after the company reported Q3 results. Quarterly Results Earnings per share rose 523.81% over the past year to $1.31, which beat the estimate of $0.21.

Northeast Bank: Q3 Earnings Insights

PORTLAND, Maine, April 21, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported record net income of $34.2 million, or $4.06 per diluted common share, for the quarter ended March 31, 2021, compared to net income of $1.9 million, or $0.21 per diluted common share, for the quarter ended March 31, 2020. Net income for the nine months ended March 31, 2021 was $50.1 million, or $6.01 per diluted common share, compared to $11.5 million, or $1.25 per diluted common share, for the nine months ended March 31, 2020. Net income for the three and nine months ended March 31, 2021 included $33.0 million of net gains on the sale of Paycheck Protection Program (“PPP”) loans originated and sold during the quarter ended March 31, 2021 under the current round of PPP, which had an after-tax earnings per diluted common share impact of $2.75 and $2.80, respectively.

Northeast Bank Reports Record Third Quarter Results and Declares Dividend

PORTLAND, Maine, April 16, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2021 third quarter earnings results on Wednesday, April 21, 2021. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Thursday, April 22, 2021. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, JP Lapointe, Chief Financial Officer, and Pat Dignan, Executive Vice President and Chief Credit Officer.

Northeast Bank Announces Dates for Fiscal 2021 Third Quarter Earnings Results and Conference Call

NBN is posting very strong quarterly results as its structure to sell PPP loans and earn a service fee was a solid move. This will keep the earnings at an elevated level for 1-2 more years.

News for Northeast Bancorp Stock (NBN)