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.
IPO Year:
Exchange: NASDAQ
Website: northeastbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/21/2024 | $102.00 | Mkt Perform | Keefe Bruyette |
| 9/11/2024 | $80.00 | Overweight | Piper Sandler |
Keefe Bruyette initiated coverage of Northeast Bancorp with a rating of Mkt Perform and set a new price target of $102.00
Piper Sandler resumed coverage of Northeast Bancorp with a rating of Overweight and set a new price target of $80.00
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. Mr. Cohen, 51, joins the Bank directly from Grey Matter Thinking, a professional services business that has specialized in banking since 2008, where he was the founder and Chief Executive Officer. Prior to that, he was a Partner in KPMG's Financial Services Practice in Johannesburg and subsequently in London. Mr. Cohen holds two Bachelors' degrees and one Master's
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. The Board of Directors declared a cash dividend of $0.01 per share, payable on November 26, 2024, to shareholders of record as of November 12, 2024. "With $859.8 million of loan generation from our National Lending Division, we had our second largest quarterly loan volume in the Bank's history, consisting of $732.9 million of pur
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. To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be availa
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. The Board of Directors declared a cash dividend of $0.01 per share, payable on August 23, 2024, to shareholders of record as of August 9, 2024. "We
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. To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be available vi
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. The Board of Directors declared a cash dividend of $0.01 per share, payable on May 27, 2024, to shareholders of record as of May
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. To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be available vi
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-dow
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. To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be availab
PORTLAND, Maine, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Northeast Bank (the "Bank") (NASDAQ:NBN), a Maine-based full-service bank, today reported net income of $15.2 million, or $2.01 per diluted common share, for the quarter ended September 30, 2023, compared to net income of $8.3 million, or $1.12 per diluted common share, for the quarter ended September 30, 2022. The Board of Directors declared a cash dividend of $0.01 per share, payable on November 21, 2023, to shareholders of record as of November 7, 2023. Discussing results, Rick Wayne, Chief Executive Officer, said, "We had another strong quarter reporting earnings of $2.01 per diluted common share, a return on average equity of 19.7%,
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. To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be available v
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. The Board of Directors declared a cash dividend of $0.01 per share, payable on November 26, 2024, to shareholders of record as of November 12, 2024. "With $859.8 million of loan generation from our National Lending Division, we had our second largest quarterly loan volume in the Bank's history, consisting of $732.9 million of pur
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. To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be availa
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. Discussing the purchases, Rick Wayne, Chief Executive Officer said, "We are very pleased with this quarter's purchased loan activity, which represents the se
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. The Board of Directors declared a cash dividend of $0.01 per share, payable on August 23, 2024, to shareholders of record as of August 9, 2024. "We
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. To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be available vi
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. The Board of Directors declared a cash dividend of $0.01 per share, payable on May 27, 2024, to shareholders of record as of May
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. To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be available vi
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-dow
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. To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be availab
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. Mr. Cohen, 51, joins the Bank directly from Grey Matter Thinking, a professional services business that has specialized in banking since 2008, where he was the founder and Chief Executive Officer. Prior to that, he was a Partner in KPMG's Financial Services Practice in Johannesburg and subsequently in London. Mr. Cohen holds two Bachelors' degrees and one Master's
Northeast Bank (NASDAQ:NBN) reported quarterly earnings of $1.83 per share which beat the analyst consensus estimate of $1.72 by 6.4 percent. This is a 8.28 percent increase over earnings of $1.69 per share from the same period last year. The company reported quarterly sales of $38.054 million which beat the analyst consensus estimate of $36.340 million by 4.72 percent. This is a 13.84 percent increase over sales of $33.427 million the same period last year.
Today, February 26, 2024, Northeast Bank (NASDAQ:NBN) will distribute a dividend payout of $0.01 per share, highlighting an annualized dividend yield of 0.07%. Shareholders who owned the stock before the ex-dividend date on February 09, 2024 will be eligible for this payout. Northeast Bank Recent Dividend Payouts table { width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 14px; } th, td { padding: 8px; text-align: left; } th { background-color: #293a5a; color: #fff; text-align: left; } tr:nth-chi
Northeast Bank (NASDAQ:NBN) reported its Q2 earnings results on Tuesday, January 30, 2024 at 04:16 PM. Here's what investors need to know about the announcement. Earnings Northeast Bank beat estimated earnings by 7.56%, reporting an EPS of $1.85 versus an estimate of $1.72. Revenue was up $8.41 million from the same period last year. Past Earnings Performance Last quarter the company beat on EPS by $0.45 which was followed by a 7.1% increase in the share price the next day. Here's a look at Northeast Bank's past performance: Quarter Q1 2024 Q4 2023 Q3 2023 Q2 2023 EPS Estimate 1.56 1.55 1.66 1.27 EPS Actual 2.01 1.61 1.69 1.54 Revenue Estimate 34.01M 34.38M 33.93M 27.25M Revenue
Northeast Bank (NASDAQ:NBN) reported quarterly earnings of $1.85 per share which beat the analyst consensus estimate of $1.72 by 7.56 percent. This is a 20.13 percent increase over earnings of $1.54 per share from the same period last year. The company reported quarterly sales of $38.47 million which beat the analyst consensus estimate of $36.98 million by 4.02 percent. This is a 27.99 percent increase over sales of $30.05 million the same period last year.
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Northeast Bank (NASDAQ:NBN) is set to give its latest quarterly earnings report on Tuesday, 2024-01-30. Here's what investors need to know before the announcement. Analysts estimate that Northeast Bank will report an earnings per share (EPS) of $1.72. Northeast Bank bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Historical Earnings Performance Last quarter the company beat EPS by $0.45, which was followed by a 7.1% increase in
Cohen will succeed Chief Financial Officer Jean-Pierre Lapointe upon his departure from the Bank.
Piper Sandler analyst Alexander Twerdahl maintains Northeast Bank (NASDAQ:NBN) with a Overweight and raises the price target from $52 to $54.
Northeast Bank (NASDAQ:NBN) reported quarterly earnings of $2.01 per share which beat the analyst consensus estimate of $1.56 by 28.85 percent. This is a 79.46 percent increase over earnings of $1.12 per share from the same period last year. The company reported quarterly sales of $37.90 million which beat the analyst consensus estimate of $34.01 million by 11.45 percent. This is a 49.77 percent increase over sales of $25.31 million the same period last year.
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