Welcome to our dedicated page for Northeast Banc news (Ticker: NBN), a resource for investors and traders seeking the latest updates and insights on Northeast Banc stock.
Northeast Bank (NBN) provides essential financial services through its Community Banking and National Lending divisions, serving both regional and national markets. This page aggregates official news and press releases to help stakeholders track the bank's strategic developments and market position.
Access timely updates on earnings reports, regulatory filings, leadership changes, and operational milestones. The curated collection includes announcements about commercial lending activities, SBA loan programs, and digital banking innovations that shape NBN's financial landscape.
Investors and analysts will find this centralized resource valuable for monitoring the bank's loan portfolio performance, risk management strategies, and community banking initiatives. All content is sourced directly from verified corporate communications to ensure reliability.
Bookmark this page for streamlined access to Northeast Bank's latest developments. Combine regular checks with professional financial advice to inform your analysis of NBN's evolving market role.
Northeast Bank (NASDAQ: NBN) has announced a significant loan purchase volume since June 30, 2024. The Bank has acquired primarily commercial real estate loans with an unpaid principal balance of $805 million. This represents the second largest quarterly loan purchase volume in the Bank's history.
Due to the late-quarter timing of these purchases, there will be minimal impact on earnings for the first fiscal quarter of 2025. The Bank has funded and plans to continue funding these loan purchases primarily through brokered deposits and Federal Home Loan Bank advances.
CEO Rick Wayne expressed satisfaction with the quarter's purchased loan activity, highlighting the Bank's strong reputation in the loan purchase market and the team's ability to capitalize on available opportunities.
Northeast Bank (NASDAQ: NBN) reported strong Q4 results for fiscal year 2024, with net income of $15.1 million, or $1.91 per diluted share, up from $12.1 million in Q4 2023. For the full year, net income reached $58.2 million, or $7.58 per diluted share, compared to $44.2 million in FY 2023. The bank's National Lending Division portfolio grew by 9.0% year-over-year, driven by $399.1 million in originations and $382.0 million in purchases. Total assets increased by 9.1% to $3.13 billion. The loan portfolio yield improved to 9.37% in Q4 2024, up from 8.71% in Q4 2023. Deposits grew by 20.8%, while FHLB advances decreased by 38.6%. The bank declared a cash dividend of $0.01 per share.
Northeast Bank (NASDAQ: NBN) has announced the release of its fiscal 2024 fourth quarter earnings results on Monday, July 29, 2024. The bank will host a conference call and simultaneous webcast to discuss the results on Thursday, August 1, 2024, at 10:00 a.m. ET. The call will be led by Rick Wayne (President and CEO), Richard Cohen (CFO), and Pat Dignan (COO).
Investors can access the conference call via phone registration or watch the live webcast on Northeast Bank's website. A replay of the webcast will be available online for one year. Northeast Bank is a full-service bank headquartered in Portland, Maine, offering personal and business banking services through seven branches and a National Lending Division for commercial loans nationwide.
Northeast Bank reported net income of $13.9 million for the quarter ended March 31, 2024, with a dividend of $0.01 per share declared. Total assets reached $3.00 billion, a 4.6% increase from the prior year. Strong results led by the National Lending Division's portfolio growth and the issuance of common stock. Non-GAAP measures like total return on purchased loans were highlighted.
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