Northeast Bank (NBN)

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About Northeast Bank

Northeast Bank provides personal and business banking services in Maine, the United States. The company’s deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans. In addition, the company offers telephone banking, online banking and bill payment, mobile banking, cash management, and remote deposit capture services, as well as debit and credit card, ATM, electronic transfer, and check services. It operates a network of nine branches in Western, Central, and Southern Maine. Northeast Bank was founded in 1872 and is headquartered in Portland, Maine. Address: 27 Pearl Street, Portland, ME, United States, 04101

Northeast Bank News and around…

Latest news about Northeast Bank (NBN) common stock and company :

Investors in Northeast Bank (NASDAQ:NBN) have made a splendid return of 221% over the past five years
15 Nov, 2021 Yahoo! Finance

When you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose...

Northeast Bancorp/ME (NBN) Q1 2022 Earnings Call Transcript
29 Oct, 2021 FinancialContent

NBN earnings call for the period ending September 30, 2021.

Recap: Northeast Bank Q1 Earnings
27 Oct, 2021 FinancialContent

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

Earnings Scheduled For October 27, 2021
27 Oct, 2021 FinancialContent

Companies Reporting Before The Bell • McDonald's (NYSE:MCD) is expected to report quarterly earnings at $2.46 per ...

Northeast Bank Announces Dates for Fiscal 2022 First Quarter Earnings Results and Conference Call
22 Oct, 2021 Yahoo! Finance

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,

How Much Of Northeast Bank (NASDAQ:NBN) Do Insiders Own?
14 Sep, 2021 Yahoo! Finance

The big shareholder groups in Northeast Bank ( NASDAQ:NBN ) have power over the company. Large companies usually have...

Northeast Bancorp/ME (NBN) Q4 2021 Earnings Call Transcript
30 Jul, 2021 FinancialContent

NBN earnings call for the period ending June 30, 2021.

Stocks That Hit 52-Week Highs On Thursday
29 Jul, 2021 FinancialContent

Thursday's morning session saw 167 companies set new 52-week highs. Points of Interest: ASML Holding ...

Northeast Bank Reports Fourth Quarter Results, Record Annual Earnings and Declares Dividend
28 Jul, 2021 FinancialContent
Earnings Scheduled For July 28, 2021
28 Jul, 2021 FinancialContent

Companies Reporting Before The Bell • Barclays (NYSE:BCS) is likely to report quarterly earnings at $0.55 per share on ...

Northeast Bank Announces Dates for Fiscal 2021 Fourth Quarter Earnings Results and Conference Call
23 Jul, 2021 FinancialContent
3 Upgraded Stocks To Consider Buying As The Market Bounces Back
21 Jul, 2021 FinancialContent

We are seeing a meaningful increase in stock market volatility for the first time in months. Here are three stocks with strong technical and fundamental characteristics.

Here's Why I Think Northeast Bank (NASDAQ:NBN) Might Deserve Your Attention Today
16 Jul, 2021 Yahoo! Finance

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Is Northeast Bank (NBN) Going to Burn These Hedge Funds?
23 Jun, 2021 Yahoo! Finance

Hedge Funds and other institutional investors have just completed filing their 13Fs with the Securities and Exchange Commission, revealing their equity portfolios as of the end of September. At Insider Monkey, we follow nearly 900 active hedge funds and notable investors and by analyzing their 13F filings, we can determine the stocks that they are […]

If You Had Bought Northeast Bank (NASDAQ:NBN) Shares Five Years Ago You'd Have Earned 161% Returns
17 May, 2021 Yahoo! Finance

The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But on a lighter note, a...

Northeast Bank Announces Increased Share Repurchase Program
26 Apr, 2021 FinancialContent
Northeast Bancorp/ME (NBN) Q3 2021 Earnings Call Transcript
22 Apr, 2021 FinancialContent

NBN earnings call for the period ending March 31, 2021.

12 Financials Stocks Moving In Thursday's Intraday Session
22 Apr, 2021 FinancialContent

Gainers FG Financial Gr (NASDAQ:FGF) stock increased by 12.49% to $6.84 during Thursday's regular session. FG ...

Northeast Bank: Q3 Earnings Insights
21 Apr, 2021 FinancialContent

Shares of Northeast Bank (NASDAQ:NBN) remained unaffected after the company reported Q3 results. Quarterly Results Earnings per ...

Northeast Bank Reports Record Third Quarter Results and Declares Dividend
21 Apr, 2021 FinancialContent
Earnings Scheduled For April 21, 2021
21 Apr, 2021 FinancialContent

Companies Reporting Before The Bell • ASML Holding (NASDAQ:ASML) is likely to report quarterly earnings at $3.02 per ...

Northeast Bank Announces Dates for Fiscal 2021 Third Quarter Earnings Results and Conference Call
16 Apr, 2021 FinancialContent
Northeast Bank Ranked 18th Best-Performing U.S. Community Bank Under $3 Billion in Assets by S&P Global Market Intelligence
29 Mar, 2021 FinancialContent
Should You Take Comfort From Insider Transactions At Northeast Bank (NASDAQ:NBN)?
18 Mar, 2021 Yahoo! Finance

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly...

Northeast Bank Announces New Board Member Bill Mayer
08 Mar, 2021 FinancialContent
UPDATE -- Northeast Bank Announces Sale of Paycheck Protection Program Loans
04 Mar, 2021 Yahoo! Finance

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. Pursuant to the Bank’s previously disclosed Correspondent Agreement (“Correspondent Agreement”) with Loan Source and ACAP SME, LLC (“ACAP”), the Bank will continue to act as correspondent for Loan Source in connection with Loan Source’s pledge of PPP loans to the Federal Reserve Bank of Minneapolis under the Paycheck Protection Program Liquidity Facility (“PPPLF”) and ACAP will continue to act as loan service provider for the PPP loans pledged by Loan Source. Under the Correspondent Agreement, the Bank receives correspondent fee income in the amount of 50% of the net servicing income earned on the loans pledged by Loan Source. Through February 26, 2021, Loan Source had purchased $4.72 billion in principal amount of PPP loans, which will increase by the $1.65 billion to be purchased from the Bank and any additional PPP loans sold to Loan Source as discussed above. The Bank continues to originate PPP loans, which it will sell to Loan Source along with the remaining SBA approved and unfunded PPP loans under the terms of the Loan Sale Agreement until the PPPLF is closed. However, the Bank does not expect the volume of PPP loan originations to continue at the same rate of PPP loan originations previously closed. “At the end of Round 1 of the PPP program in August 2020, we, along with our loan service provider, ACAP, anticipated that Congress would recognize the need for and enact legislation to provide additional PPP funds,” said Rick Wayne, President and Chief Executive Officer. “During the period from the end of Round 1 until Economic Aid Act was passed on December 27, 2020, we made significant investments in marketing to generate more leads and technology to assist in our thorough underwriting process. These investments have paid off well. On February 28, 2021, the SBA reported that Northeast Bank was the eleventh largest Round 2 PPP lender in dollar volume.” Mr. Wayne continued, “We are proud to continue to assist so many small businesses and employees around the country.” About Northeast Bank Northeast Bank (NASDAQ: NBN) is a full-service bank headquartered in Portland, Maine. We offer personal and business banking services to the Maine market via nine branches. Our National Lending Division purchases and originates commercial loans on a nationwide basis. ableBanking, a division of Northeast Bank, offers online savings products to consumers nationwide. Information regarding Northeast Bank can be found at www.northeastbank.com. Forward-Looking Statements Statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although the Bank believes that these forward-looking statements are based on reasonable estimates and assumptions, they are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors. You should not place undue reliance on our forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to significant risks, uncertainties and other factors which are, in some cases, beyond the Bank’s control. The Bank’s actual results could differ materially from those projected in the forward-looking statements as a result of, among other factors, the negative impacts and disruptions of the COVID-19 pandemic and measures taken to contain its spread on our employees, customers, business operations, credit quality, financial position, liquidity and results of operations; the length and extent of the economic contraction resulting from the COVID-19 pandemic; continued deterioration in employment levels, general business and economic conditions on a national basis and in the local markets in which the Bank operates, including changes which adversely affect borrowers’ ability to service and repay our loans; changes in customer behavior due to changing political, business and economic conditions or legislative or regulatory initiatives; turbulence in the capital and debt markets; changes in interest rates and real estate values; increases in loan defaults and charge-off rates; decreases in the value of securities and other assets, adequacy of loan loss reserves, or deposit levels necessitating increased borrowing to fund loans and investments; changing government regulation; competitive pressures from other financial institutions; operational risks including, but not limited to, cybersecurity incidents, fraud, natural disasters and future pandemics; the risk that the Bank may not be successful in the implementation of its business strategy; the risk that intangibles recorded in the Bank’s financial statements will become impaired; changes in assumptions used in making such forward-looking statements; and the other risks and uncertainties detailed in the Bank’s Annual Report on Form 10-K and updated by our Quarterly Reports on Form 10-Q and other filings submitted to the Federal Deposit Insurance Corporation. These statements speak only as of the date of this release and the Bank does not undertake any obligation to update or revise any of these forward-looking statements to reflect events or circumstances occurring after the date of this communication or to reflect the occurrence of unanticipated events. For More Information:Jean-Pierre Lapointe, Chief Financial OfficerNortheast Bank, 27 Pearl Street, Portland, ME 04101 207.786.3245 ext. 3220www.northeastbank.com

Northeast Bank Announces Sale of Paycheck Protection Program Loans
04 Mar, 2021 FinancialContent
Northeast Bank Announces New Chairman Matthew Botein
01 Mar, 2021 FinancialContent
Northeast Bancorp Joins Rank Of Stocks With 95-Plus Composite Rating
23 Feb, 2021 FinancialContent

The IBD SmartSelect Composite Rating for Northeast Bancorp rose from 94 to 96 Tuesday.

Northeast Bank Mourns the Loss of Chairman Robert R. Glauber
18 Feb, 2021 FinancialContent

Northeast Bank (NBN) is a NASDAQ Common Stock listed in , ,

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