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 (NASDAQ: NBN) is a Maine-based, full-service bank headquartered in Portland, Maine, with a business model that combines community banking in Maine, national commercial lending, SBA lending, and online savings products. The NBN news feed on Stock Titan aggregates the bank’s press releases and market updates so readers can follow developments that affect its operations and financial performance.
Company news frequently covers quarterly and annual earnings results, where Northeast Bank reports net income, net interest and dividend income, provisions for credit losses, noninterest income, noninterest expense, and income tax expense. These releases provide detail on loan portfolio growth across the Community Banking, National Lending, and SBA portfolios, as well as changes in deposits, Federal Home Loan Bank advances, shareholders’ equity, and capital ratios.
Investors can also track loan production and portfolio metrics, including volumes of purchased and originated loans in the National Lending Division, SBA loan originations and sales of the guaranteed portions, yields on different loan categories, and total return on purchased loans. The bank often explains how these factors influence interest income, transactional income, and nonperforming asset levels.
Additional NBN news items include dividend declarations, announcements of at‑the‑market common stock offerings, conference call and webcast schedules for earnings discussions, and executive leadership updates. These releases outline how the bank manages capital, communicates with shareholders, and organizes its leadership team.
By following the Northeast Bank news page, readers can review the bank’s own descriptions of its financial results, lending activity, deposit trends, capital actions, and corporate announcements in one place, using this information to understand how the bank’s community banking, national lending, SBA lending, and online savings activities evolve over time.
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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.
Northeast Bank (NASDAQ: NBN) announced it will release its fiscal 2023 third quarter earnings results on April 24, 2023. This will be followed by a conference call on April 25, 2023, at 10:00 a.m. ET, hosted by key executives including President Rick Wayne and CFO JP Lapointe. The conference call will be available via live webcast, with attendees encouraged to register early. Following the call, a replay will be accessible online for one year. Northeast Bank, based in Portland, Maine, provides a range of personal and business banking services through its seven branches and nationwide commercial loans via its National Lending Division.