FY 2021 Q4 Investor Call July 29, 2021 Forward-Looking Statement Statements in this presentation 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 es ...

Financial Performance - Total loan volume reached $236 billion in Q3 FY21[4] - SBA PPP loans originated amounted to $225 billion in Q3 FY21[4] - Gain on sale of PPP loans was $330 million in Q3 FY21[4] - Correspondent fee income totaled $60 million in Q3 FY21[4] - Net interest margin was 393% in Q3 FY21, and 506% excluding PPP[4] - Earnings reached $342 million in Q3 FY21[4] - Return on equity was 7106% and return on assets was 699% in Q3 FY21[4] Loan Portfolio - National Lending purchased loans had a total balance of $4335 million with a weighted average LTV of 47%[9] - Direct originated loans in National Lending had a balance of $2561 million with a weighted average LTV of 50%[9] - Portfolio Finance loans in National Lending had a balance of $2169 million with a weighted average LTV of 47%[9] Deposit Portfolio - Total deposits reached $12943 million with a weighted average rate of 049% as of March 31, 2021[60] - Checking deposits amounted to $6347 million with a weighted average rate of 009%[60]

Northeast Bank (NASDAQ:NBN) Q3 2021 Earnings Conference Call April 22, 2021 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 Credit Officer Conference Call Participants Alex Twerdahl ??? Piper Sandler Operator Good day, everyone, and welcome to the Northeast Bank Fiscal Year 2021 Third Quarter Earnings Results Conference Call. This call is being recorded. With us today from the bank ...

FY 2021 Q2 Investor Call January 28, 2021 Forward-Looking Statement Statements in this presentation 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 ...

Northeast Bank (NASDAQ:NBN) Q2 2021 Earnings Conference Call January 28, 2021 10:00 AM ET Company Participants Rick Wayne - President & Chief Executive Officer JP Lapointe - Chief Financial Officer Pat Dignan - Executive Vice President & Chief Credit Officer Conference Call Participants Jeffrey Kitsis - Piper Sandler Operator Good day, everyone and welcome to the Northeast Bank Fiscal Year 2021 Second Quarter Earnings Results Conference Call. This call is being recorded. With us today from the Bank is Rick ...

Financial Data and Key Metrics Changes - The company reported earnings of $7.8 million, or $0.94 per diluted share, with a return on equity of 18.5% and a return on assets of 2.49% [6] - Loan volume for the quarter was just under $76 million, including $23 million of triple key loans originated [7] - The net interest margin was 4.95%, and 5% excluding Triple P [7] - The allowance for loan losses increased from $5.3 million (57 basis points) to $9.5 million (1.02% of total loans) year-over-year [29] Business Line Data and Key Metrics Changes - The company originated $40.9 million in loans in its national lending group, with $4.6 million in purchased loans [7][15] - Correspondent fee income was $4.7 million, contributing to a total revenue increase of 20% year-over-year [34] - The deferment program provided $136.2 million in total deferments, with only $26.8 million still deferred at the end of September [12][13] Market Data and Key Metrics Changes - The company purchased $2.1 billion in loans for the quarter, bringing the total to $3.4 billion [8] - The average cost of deposits decreased from 1.84% to 1.19% year-over-year [32] - The company has $188 million of CDs maturing over the next two quarters, with a weighted average rate of 2.21% [32] Company Strategy and Development Direction - The company aims to increase its share of purchased loans over the next couple of years, with $80 million of purchased loans already under contract in October [20][51] - The management emphasized a conservative approach to lending, particularly in the current economic environment [16] - The company is focused on maintaining strong asset quality metrics, with non-performing assets remaining consistent [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's performance while working remotely and noted that the operational health of the company remains strong [5] - The management anticipates a significant volume of loans coming to market, with expectations of increased competition [51] - The company is prepared for potential economic volatility due to external factors such as the pandemic and upcoming elections [72] Other Important Information - The company has not engaged in stock buybacks during the last quarter but has a remaining capacity of 646,000 shares for buyback [69] - The management noted that the PPP loan program is expected to continue until December 31, 2020, depending on regulatory extensions [61] Q&A Session Summary Question: Clarification on loan source fees accounting - Management explained that correspondent fees and purchased accrued interest are recognized over approximately two years, depending on loan payoffs [41][43] Question: Update on the purchased loan market - Management indicated that while there is competition, they expect to see an increase in purchased loans on their balance sheet over the next couple of years [51][52] Question: Status of the PPP loan program - Management confirmed that the program is extended until December 31, 2020, and there is ongoing activity in the loan market [61][63]

Q1 FY 2021 Investor Call October 30, 2020 Forward-Looking Statement Statements in this presentation 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 ...

Northeast Bank (NASDAQ:NBN) Q4 2020 Earnings Conference Call July 30, 2020 10:00 AM ET Company Participants Rick Wayne - Chief Executive Officer JP Lapointe - Chief Financial Officer Conference Call Participants Alex Twerdahl - Piper Sandler & Co Operator Good day, everyone, and welcome to the Northeast Bank Fiscal Year 2020 Fourth Quarter Earnings Results Conference Call. This call is being recorded. With us today from the bank is Rick Wayne, President and Chief Executive Officer; JP Lapointe, Chief Financ ...

Northeast Bank (NASDAQ:NBN) Q3 2020 Earnings Conference Call April 23, 2020 10:00 AM ET Company Participants Richard Wayne - President, CEO & Director Jean-Pierre Lapointe - CFO & Treasurer Conference Call Participants Alexander Twerdahl - Piper Sandler & Co. Operator Good day, everyone, and welcome to the Northeast Bank Fiscal Year 2020 Third Quarter Earnings Results Conference Call. This call is being recorded. With us today from the bank is Rick Wayne, President and Chief Executive Officer; JP Lapointe, ...

Financial Data and Key Metrics Changes - For Q2 2020, the company reported a net income of $4.9 million, or $0.53 per diluted common share, with a return on average equity of 12.1% and a return on average assets of 1.7% [6][17] - The net interest margin for the quarter was 5.6%, reflecting a decrease from the linked quarter [47] - The company experienced a decrease in non-interest expense by $565,000 compared to the linked quarter, primarily due to lower sales and employee benefits expenses [18][37] Business Line Data and Key Metrics Changes - The LASG portfolio saw strong loan growth of $75.4 million, or 10% over the linked quarter, with total loans generated reaching a record $175.4 million [7][8] - The weighted average yield of LASG loans originated in the quarter was 7.4%, with 82% being variable loans [9] - The total return on purchased loans for the quarter was 10.2%, while the originated portfolio generated a return of 7.7% [14] Market Data and Key Metrics Changes - The company’s loan portfolio at the end of the quarter exceeded $1 billion, a significant increase from the average loan balance of $946 million in the second quarter [8] - The company’s deposits decreased by $47 million, or 5%, over the trailing 12-month period, but increased compared to the linked quarter to fund loan growth [31][32] Company Strategy and Development Direction - The company is focused on leveraging its capital effectively to support loan growth, with no shares repurchased in the last quarter [70][73] - Management emphasized the importance of monitoring market conditions and adjusting loan strategies accordingly, particularly in response to changes in regulations such as rent control in New York [66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the portfolio despite an increase in non-performing loans, attributing it to specific loans rather than a broader economic issue [66][68] - The company anticipates that it will manage its delinquency levels effectively and maintain low charge-off rates [63][66] Other Important Information - The effective tax rate for the current quarter was 28.9%, slightly up from 28.7% in the linked quarter [21][27] - The company has seen a shift in focus away from SBA originations, impacting non-interest income [22][24] Q&A Session Summary Question: Concerns about the increase in non-performing loans - Management clarified that the increase in non-performing loans was primarily due to two specific loans and emphasized the importance of charge-offs over delinquency levels [57][66] Question: Inquiry about share buybacks - Management confirmed that no shares were purchased in the last quarter and reiterated their focus on leveraging capital for loan growth [70][73] Question: Clarification on past due loans percentage increase - Management acknowledged the increase in past due loans but reassured that the underlying loans are well-secured and expected to resolve without losses [68][66]