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 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.
Northeast Bank (NASDAQ: NBN) reported a strong financial performance for the quarter ending March 31, 2023, with net income of $12.5 million ($1.69 per diluted share), up from $10.6 million ($1.36 per share) in the same quarter of 2022. Total assets reached $2.87 billion, representing an 81.1% increase year-over-year. The bank declared a cash dividend of $0.01 per share, payable on May 19, 2023. Interest income surged 140.2% to $29.1 million due to historic loan growth. Shareholder equity increased by $35.6 million, or 14.3%, mainly attributed to net income and stock issuance. However, noninterest income fell by $4.2 million due to a decline in correspondent fee income. Overall, the bank's earnings show a positive trend amidst challenges in noninterest income.
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