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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Earnings data Q1 2025

Earnings data Q2 2025

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 ) Q1 2025 Results Earnings Conference Call October 30, 2024 10:00 AM ET Company Participants Richard Wayne - President and Chief Executive Officer Patrick Dignan - Chief Operating Officer Richard Cohen - Chief Financial Officer Rebecca Rand - Senior Vice President, Director of Accounting Conference Call Participants Mark Fitzgibbon - Piper Sandler David Minkoff - DCM Asset Management Adam Wilkie - Pacific Ridge Capital Partners Operator Welcome to the Northeast Bank First Quarter FY 2025 Earnings Call. My name is Brie, and I will be your operator for today's call.

Northeast Bank (NBN) Q1 2025 Earnings Call Transcript

PORTLAND, Maine, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $17.1 million, or $2.11 per diluted common share, for the quarter ended September 30, 2024, compared to net income of $15.2 million, or $2.01 per diluted common share, for the quarter ended September 30, 2023.

Northeast Bank Reports First Quarter Results and Declares Dividend

PORTLAND, Maine, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2025 first quarter earnings results on Tuesday, October 29, 2024. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Wednesday, October 30, 2024. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, Richard Cohen, Chief Financial Officer, and Pat Dignan, Chief Operating Officer.

Northeast Bank Announces Dates for Fiscal 2025 First Quarter Earnings Results and Conference Call

PORTLAND, Maine, Sept. 24, 2024 (GLOBE NEWSWIRE) --  Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that since June 30, 2024, the Bank has purchased primarily commercial real estate loans in the amount of unpaid principal balance of $805 million. Because the purchases closed primarily late in the quarter, there will be minimal impact on earnings for the first fiscal quarter of 2025. The Bank has funded and intends to fund the purchase of these loans primarily relying on brokered deposits and Federal Home Loan Bank advances.

Northeast Bank Announces Significant Loan Purchase Volume

Northeast Bank is a small institution with high-quality assets and a focus on commercial loans, including smaller loans often overlooked by larger institutions. The bank has seen mixed performance in recent years, but net interest income has risen nicely due to a growth in loans on its books. Despite trading at a premium to book value, Northeast Bank's asset quality, balance sheet growth, and low uninsured deposit exposure makes it a decent prospect, warranting a soft 'buy' rating.

Northeast Bank: A Bit Pricey, But For A Reason

Northeast Bank (NASDAQ:NBN ) Q4 2024 Earnings Conference Call August 1, 2024 10:00 AM ET Company Participants Richard Wayne - President, CEO & Director Richard Cohen - CFO Patrick Dignan - COO & EVP Conference Call Participants David Minkoff - DCM Asset Management Operator Welcome to the Northeast Bank Fourth Quarter Fiscal Year 2024 Earnings Call. My name is Steven, and I will be your operator for today's call.

Northeast Bank (NBN) Q4 2024 Earnings Call Transcript

PORTLAND, Maine, July 29, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $15.1 million, or $1.91 per diluted common share, for the quarter ended June 30, 2024, compared to net income of $12.1 million, or $1.61 per diluted common share, for the quarter ended June 30, 2023. Net income for the year ended June 30, 2024 was $58.2 million, or $7.58 per diluted common share, compared to $44.2 million, or $5.96 per diluted common share, for the year ended June 30, 2023.

Northeast Bank Reports Fourth Quarter Results and Declares Dividend

PORTLAND, Maine, July 24, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2024 fourth quarter earnings results on Monday, July 29, 2024. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Thursday, August 1, 2024. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, Richard Cohen, Chief Financial Officer, and Pat Dignan, Chief Operating Officer.

Northeast Bank Announces Dates for Fiscal 2024 Fourth Quarter Earnings Results and Conference Call

Northeast Bank offers potential for above-average returns with a unique business model combining organic growth and purchasing loans at discounts. Anticipation of interest rate cuts is high, which could benefit banks like NBN and Esquire Financial Holdings in the future. NBN's focus on purchasing loans at discounts, strong asset quality, and efficient value generation make it a solid opportunity for long-term returns, especially if interest rates decline.

Northeast Bank: Good Growth Prospects

PORTLAND, Maine, April 30, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $13.9 million, or $1.83 per diluted common share, for the quarter ended March 31, 2024, compared to net income of $12.5 million, or $1.69 per diluted common share, for the quarter ended March 31, 2023. Net income for the nine months ended March 31, 2024 was $43.1 million, or $5.67 per diluted common share, compared to $32.1 million, or $4.35 per diluted common share, for the nine months ended March 31, 2023.

Northeast Bank Reports Third Quarter Results and Declares Dividend

PORTLAND, Maine, April 25, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2024 third quarter earnings results on Tuesday, April 30, 2024. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Wednesday, May 1, 2024. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, Richard Cohen, Chief Financial Officer, and Pat Dignan, Chief Operating Officer.

Northeast Bank Announces Dates for Fiscal 2024 Third Quarter Earnings Results and Conference Call

Northeast Bank (NBN) Q2 2024 Earnings Call Transcript

PORTLAND, Maine, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $14.1 million, or $1.85 per diluted common share, for the quarter ended December 31, 2023, compared to net income of $11.3 million, or $1.54 per diluted common share, for the quarter ended December 31, 2022. Net income for the six months ended December 31, 2023 was $29.2 million, or $3.86 per diluted common share, compared to $19.6 million, or $2.65 per diluted common share, for the six months ended December 31, 2022. Results for the quarter and six months ended December 31, 2023 were negatively impacted by a deferred tax asset write-down of $957 thousand ($0.13 per diluted common share impact) due to a change in Massachusetts tax law regarding income tax apportionment.

Northeast Bank Reports Second Quarter Results and Declares Dividend

PORTLAND, Maine, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2024 second quarter earnings results on Tuesday, January 30, 2024. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Wednesday, January 31, 2024. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, JP Lapointe, Chief Financial Officer, and Pat Dignan, Chief Operating Officer.

Northeast Bank Announces Dates for Fiscal 2024 Second Quarter Earnings Results and Conference Call

PORTLAND, Maine, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), announced today the hiring of Richard Cohen, who will be appointed as Chief Financial Officer of the Bank, effective February 1, 2024. Mr. Cohen will succeed Chief Financial Officer Jean-Pierre Lapointe upon his departure from the Bank.

Northeast Bank Announces Appointment of Chief Financial Officer

Customers Bancorp

Merchants Bancorp

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Safe Deposits: 3 Financial Stocks to Secure Your Portfolio

Northeast Bank has created great value for shareholders by buying commercial real estate loans at a discount in the secondary market. The bank's unconventional way of doing business gives it a competitive advantage in the commoditized banking industry. The success of other companies in commoditized sectors, such as Berkshire Hathaway's insurance business, shows that small tweaks to an established model can lead to phenomenal success.

Northeast Bank: The Beal Banks And A Few Thoughts On Competitive Advantages In Commoditized Businesses

Northeast Bank (NASDAQ:NBN ) Q1 2024 Earnings Conference Call October 24, 2023 10:00 AM ET Company Participants Rick Wayne - President and Chief Executive Officer JP Lapointe - Chief Financial Officer Pat Dignan - Executive Vice President and Chief Operating Officer Conference Call Participants Alex Twerdahl - Piper Sandler Operator Welcome to the Northeast Bank First Quarter Fiscal Year 2024 Earnings Call. My name is Victor, and I will be your operator for today's call.

Northeast Bank (NBN) Q1 2024 Earnings Call Transcript

PORTLAND, Maine, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2024 first quarter earnings results on Monday, October 23, 2023. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Tuesday, October 24, 2023. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, JP Lapointe, Chief Financial Officer, and Pat Dignan, Chief Operating Officer.

Northeast Bank Announces Dates for Fiscal 2024 First Quarter Earnings Results and Conference Call

The share price for Northeast Bank has fallen far enough that the downside is limited, given the positive impact interest rates have on the bottom line. The dividend yield is appealing at over 4% and will be a significant driver of shareholder value. The upside is strong here as the historical growth numbers shows how well NBN has done over the years.

Northeast Bank: Depressed Price Point Paves The Road For A Buy

Northeast Bank (NASDAQ:NBN ) Q4 2023 Earnings Conference Call July 25, 2023 10:00 AM ET Company Participants Richard Wayne - President & CEO Patrick Dignan - Chief Operating Officer Jean-Pierre Lapointe - SVP & CFO Conference Call Participants Alexander Twerdahl - Piper Sandler Operator Good day, and thank you for standing by. Welcome to the Northeast Bank Fourth Quarter Fiscal Year 2023 Earnings Call.

Northeast Bank (NBN) Q4 2023 Earnings Call Transcript

PORTLAND, Maine, July 19, 2023 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2023 fourth quarter earnings results on Monday, July 24, 2023. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Tuesday, July 25, 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 Fourth Quarter Earnings Results and Conference Call

Northeast Bank is a small regional bank in Maine, run by one of the best bankers in America in terms of track record. The analyst community is asleep at the wheel with the story of value creation over the past decade. However, NBN's recent loan purchases suggest the best is yet to come. NBN has identifiable advantages in its core business of buying loans at a discount in the secondary market. NBN's accordion-like balance sheet allows it to deploy capital opportunistically when needed.

Primer Series: Northeast Bank - Partnering With One Of The Best Bankers In America

Northeast Bank (NBN) Q3 2023 Earnings Call Transcript.

Northeast Bank (NBN) Q3 2023 Earnings Call Transcript

PORTLAND, Maine, April 19, 2023 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2023 third quarter earnings results on Monday, April 24, 2023. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Tuesday, April 25, 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.

News for Northeast Bancorp Stock (NBN)