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 Di ...

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 Feder ...

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. This call is being recorded. With us today from the bank is Rick Wayne, President and Chief Exec ...

Core Insights - Northeast Bank reported a net income of $15.1 million, or $1.91 per diluted common share, for the quarter ended June 30, 2024, compared to $12.1 million, or $1.61 per diluted common share, for the same quarter in 2023 [17] - Total assets increased to $3.13 billion, a rise of $262.3 million, or 9.1%, from $2.87 billion as of June 30, 2023 [19] - The National Lending Division's portfolio earned a yield of 9.37% for the quarter ended June 30, 2024, up from 8.71% for the same quarter in 2023 [19] Financial Performance - Net interest and dividend income before provision for credit losses increased by $3.8 million to $37.9 million for the quarter ended June 30, 2024, compared to $34.1 million for the same quarter in 2023 [28] - Noninterest income rose by $980 thousand for the quarter ended June 30, 2024, primarily due to an increase in gain on sale of SBA loans [30] - Noninterest expense increased by $718 thousand for the quarter ended June 30, 2024, mainly due to higher salaries and employee benefits [31] Loan Portfolio - Total loans as of June 30, 2024, amounted to $2.76 billion, an increase of $240.8 million, or 9.55%, from $2.52 billion as of June 30, 2023 [20] - Loans generated by the National Lending Division for the quarter ended June 30, 2024, totaled $257.8 million, consisting of $143.6 million of purchased loans and $114.3 million of originated loans [20] - The total return on purchased loans for the quarter ended June 30, 2024, was 9.47%, an increase from 8.12% for the same quarter in 2023 [24] Capital and Deposits - The Bank's Tier 1 leverage capital ratio was 12.3% as of June 30, 2024, compared to 10.4% at June 30, 2023 [11] - Total deposits increased by $402.3 million, or 20.8%, from June 30, 2023, primarily due to increases in time deposits and savings [25] - Shareholders' equity rose by $80.0 million, or 27.0%, from June 30, 2023, driven by net income and the issuance of common stock [27]

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------|---------------------------------------------|-------|-------------|-------|---------------|-------|------------------|-------|-------------|-------|---------------|-------| | | 2024 \nPurchased \n(Dollars in thousands) | | Originated | | Total | | 2023 \nPurchased | | Originated | | Total | | | Loans purchased or originated during the period: | | | | | | | | | | | | | | Unpaid ...

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, ...

Company Overview - Northeast Bank is a full-service bank headquartered in Portland, Maine, offering personal and business banking services through seven branches [1] - The bank's National Lending Division engages in purchasing and originating commercial loans nationwide [1] - ableBanking, a division of Northeast Bank, provides online savings products to consumers across the country [1] Upcoming Earnings Release - Northeast Bank will release its fiscal 2024 fourth quarter earnings results on July 29, 2024 [2] - A conference call will be held on August 1, 2024, at 10:00 a.m. ET, featuring key executives including the President and CEO, CFO, and COO [2] Conference Call Details - The conference call can be accessed via phone registration, and a live webcast will be available on the bank's website [3] - Attendees are encouraged to visit the website at least 15 minutes prior to the call for registration and software installation [3] - A replay of the webcast will be available online for one year after the event [3]

Thank you, Alex. Company Participants Conference Call Participants Operator Yesterday, an investor presentation was uploaded to the Bank's website, which we will reference in this morning's call. The presentation can be accessed at the Investor Relations section of northeastbank.com under Events and Presentations. You may find it helpful to download this investor presentation and follow along during the call. Also, this call will be available for rebroadcast on the website for future use. I will now turn th ...

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 ...

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, C ...