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

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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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PORTLAND, Maine, March 29, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that it was ranked the 18th best-performing U.S. community bank out of 4,287 eligible banks with assets under $3 billion by S&P Global Market Intelligence in its annual ranking.

Northeast Bank Ranked 18th Best-Performing U.S. Community Bank Under $3 Billion in Assets by S&P Global Market Intelligence

PORTLAND, Maine, March 08, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today the Board of Directors has elected William Mayer to fill the vacancy on the Bank's Board of Directors created by the recent passing of Robert R. Glauber, who served as the Bank's Chairman since 2010.

Northeast Bank Announces New Board Member Bill Mayer

PORTLAND, Maine, March 04, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today that it has entered into a Loan Purchase and Sale Agreement (the “Loan Sale Agreement”) with The Loan Source, Inc. (“Loan Source”) to sell to Loan Source all loans originated by the Bank under the current round of the Small Business Administration's (“SBA”) Paycheck Protection Program (“PPP”). From January 11, 2021 through February 26, 2021, the Bank had received SBA approval for $1.84 billion of PPP loans, of which $1.65 billion have been funded. After amortizing previously unamortized PPP loan origination fees and other costs, the Bank expects to realize a pre-tax gain of approximately $26.0 million, or an after-tax gain of approximately $18.2 million, in the current fiscal quarter on the sale of the $1.65 billion of funded PPP loans.

UPDATE -- Northeast Bank Announces Sale of Paycheck Protection Program Loans

PORTLAND, Maine, March 01, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today the Board of Directors has elected Matthew Botein as the Chairman of the Board of Directors. Mr. Botein is a member of the Bank's Risk Management Committee and Loan and Investment Committee and serves as Chairman of the Bank's Compensation Committee. Mr. Botein succeeds Robert R. Glauber as Chairman of the Board of Directors of the Bank. Mr. Botein has been a member of the Board of Directors since 2010.

Northeast Bank Announces New Chairman Matthew Botein

The IBD SmartSelect Composite Rating for Northeast Bancorp rose from 94 to 96 Tuesday. The post Northeast Bancorp Joins Rank Of Stocks With 95-Plus Composite Rating appeared first on Investor's Business Daily.

Northeast Bancorp Joins Rank Of Stocks With 95-Plus Composite Rating

PORTLAND, Maine, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today the passing on February 14 of the Chairman of its Board of Directors, Robert R. Glauber. Mr. Glauber had served as Chairman of the Board since 2010, Chair of the Bank's Governance Committee and a member of its Compensation Committee.

Northeast Bank Mourns the Loss of Chairman Robert R. Glauber

Northeast Bank (NBN) CEO Rick Wayne on Q2 2021 Results - Earnings Call Transcript

PORTLAND, Maine, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2021 second quarter earnings results on Wednesday, January 27, 2021. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. EST on Thursday, January 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 2021 Second Quarter Earnings Results and Conference Call

In this article you are going to find out whether hedge funds think Northeast Bank (NASDAQ:NBN) is a good investment right now. We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for known risk attributes. It's not surprising given that hedge funds have access to better information and more resources to predict the winners in the stock market.

Do Hedge Funds Love Northeast Bank (NBN)?

A strategic arrangement helped boost revenues and earnings significantly. Loan loss provisions are not dramatic, and while non-performing assets grew, they are manageable.

Little Known Northeast Bank Is Attractive

Northeast Bank's (NBN) CEO Rick Wayne on Q1 2021 Results - Earnings Call Transcript

PORTLAND, Maine, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2021 first quarter earnings results on Thursday, October 29, 2020. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. EDT on Friday, October 30, 2020. 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 First Quarter Earnings Results and Conference Call

PORTLAND, Ore.--(BUSINESS WIRE)-- #DADavidson--Chris Keith has been promoted to Research Analyst, joining D.A.

Chris Keith Promoted to Lead Northeast Bank Coverage as D.A. Davidson Strengthens Financial Institutions Group

Northeast Bank (NBN) CEO Rick Wayne on Q4 2020 Results - Earnings Call Transcript

PORTLAND, Maine, July  29, 2020  (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $11.2 million, or $1.33 per diluted common share, for the quarter ended June 30, 2020, compared to a net loss of $603 thousand, or ($0.07) per diluted common share, for the quarter ended June 30, 2019. Net income for the year ended June 30, 2020 was $22.7 million, or $2.53 per diluted common share, compared to $13.9 million, or $1.52 per diluted common share, for the year ended June 30, 2019. Earnings were positively impacted in the quarter ended June 30, 2020 by the sale of $457.6 million in Paycheck Protection Program (“PPP”) loans to The Loan Source, Inc. (“Loan Source”) which resulted in a pre-tax net gain of $9.7 million, or approximately $6.7 million net of tax.

Northeast Bank Reports Record Fourth Quarter Results and Declares Dividend

PORTLAND, Maine, July  24, 2020  (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2020 fourth quarter earnings results on Wednesday, July 29, 2020. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. EDT on Thursday, July 30, 2020. 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 2020 Fourth Quarter Earnings Results and Conference Call

PORTLAND, Maine, July  21, 2020  (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that its Board of Directors has approved a share repurchase program to purchase up to $10.2 million of common stock, or up to 600,000 shares of its common stock, representing approximately 7.3% of the Bank’s outstanding common stock.

Northeast Bank Announces Share Repurchase Program

PORTLAND, Maine, June  25, 2020  (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today that it has entered into a Loan Purchase and Sale Agreement (the “Loan Sale Agreement”) with The Loan Source, Inc. (“Loan Source”) and agreed to sell to Loan Source $457.6 million of loans originated by the Bank in connection with the Small Business Administration’s Paycheck Protection Program (“PPP”). After amortizing previously unamortized PPP loan origination fees, the Bank will realize a pre-tax gain of approximately $9.8 million in the current fiscal quarter as a result of the sale. In addition, the Bank will receive fee income on the loans sold until such time as the loans are forgiven or repaid.

Northeast Bank Announces Sale of Paycheck Protection Program Loans

Northeast Bank (NBN) CEO Richard Wayne on Q3 2020 Results - Earnings Call Transcript

Northeast Bank (NBN) CEO Rick Wayne on Q2 2020 Results - Earnings Call Transcript

Northeast Bank (NBN) CEO Rick Wayne on Q1 2020 Results - Earnings Call Transcript

Northeast Bank (NBN) CEO Rick Wayne on Q4 2019 Results - Earnings Call Transcript

Northeast Bancorp (NBN) CEO Rick Wayne on Q3 2019 Results - Earnings Call Transcript

News for Northeast Bancorp Stock (NBN)