Northeast Banc Stock Price, News & Analysis

Northeast Bank (NASDAQ: NBN) will disclose its fiscal 2022 third quarter earnings results on April 25, 2022. A conference call, featuring key executives including President Rick Wayne, will take place on April 26, 2022, at 10:00 a.m. ET. Investors can access the call via phone or a live webcast on the Bank's website, with a replay available for one year. Northeast Bank provides personal and business banking services in Maine and commercial loans nationwide through its National Lending Division.

Northeast Bank (NASDAQ: NBN) reported a net income of $11.4 million or $1.42 per diluted share for the quarter ending December 31, 2021, an increase from $8.2 million or $0.98 year-over-year. For the six months, net income rose to $21.3 million or $2.63 per share. The board declared a cash dividend of $0.01 per share, payable on February 24, 2022. Key highlights include a record $260.5 million in loan originations, reflecting strong loan portfolio growth and a return on average equity of 18.8%.

Northeast Bank (NASDAQ: NBN) will release its fiscal 2022 second quarter earnings on January 26, 2022. The earnings call is scheduled for January 27, 2022, at 10:00 a.m. ET, hosted by top executives including President Rick Wayne and CFO JP Lapointe. Investors can participate by calling 800.773.2954 with conference ID 50273456 or through a live webcast available on the Bank's website. A replay of the call will be accessible for one year. Northeast Bank, based in Portland, Maine, provides a range of personal and business banking services across eight branches and offers national commercial loans.

Northeast Bank (NASDAQ: NBN) reported a net income of $9.9 million for Q1 FY 2022, up from $7.8 million in Q1 FY 2021, equating to $1.20 per diluted share. The bank declared a dividend of $0.01 per share, payable on November 23, 2021. Notable highlights include a 17.8% year-on-year increase in the National Lending average loan portfolio, totaling $147.2 million, and a 4.0% growth in the lending portfolio since June 30, 2021. However, total assets decreased by 36.4% to $1.38 billion, primarily due to an 81.0% drop in cash and short-term investments.

Northeast Bank (NASDAQ: NBN) will release its fiscal 2022 first quarter earnings results on October 27, 2021. A conference call is scheduled for October 28, 2021 at 10:00 a.m. ET, hosted by key executives including President Rick Wayne and CFO JP Lapointe. Investors can participate by dialing 800.773.2954 with conference ID 50237132, or via live webcast on the Bank's website. A slide presentation will accompany the call, and a replay will be available for one year on the site.

Northeast Bank (NASDAQ: NBN) reported a strong financial performance for the quarter and year ending June 30, 2021. The bank generated net income of $21.4 million, or $2.54 per diluted share, up from $11.2 million or $1.33 per share in Q2 2020. For the full year, net income soared to $71.5 million, or $8.55 per share, compared to $22.7 million or $2.53 per share in 2020. Notably, the quarter included net gains of $12.6 million from the sale of SBA PPP loans. The bank's assets grew to $2.17 billion, a 72.9% increase year-over-year.

Northeast Bank (NASDAQ: NBN) will release its fiscal 2021 fourth quarter earnings on July 28, 2021. A conference call with CEO Rick Wayne, CFO JP Lapointe, and EVP Pat Dignan will follow on July 29, 2021, at 10:00 a.m. ET. Investors can access the call by dialing 800.773.2954 using conference ID# 50197423 or via a live webcast on the Bank's website. This call aims to provide insights into financial performance and strategic initiatives. The Bank operates nine branches in Maine and offers various banking services, including commercial loans and online savings products.

Northeast Bank (NASDAQ: NBN) announced an increase in its share repurchase program to 1,000,000 shares, valued at up to $25 million, representing approximately 12% of its outstanding common stock. The repurchases will be conducted in open market transactions and are influenced by various market conditions and corporate needs. This increased buyback aims to enhance shareholder value. Additionally, the Bank has 46,902 shares available under a prior plan expiring on October 21, 2021.

Northeast Bank (NASDAQ: NBN) achieved record net income of $34.2 million, or $4.06 per diluted share, for the quarter ended March 31, 2021, compared to $1.9 million in Q1 2020. The nine-month net income reached $50.1 million, including $33 million from the sale of Paycheck Protection Program (PPP) loans. The Board declared a $0.01 dividend, payable on May 20, 2021. Total assets rose by 36.3% to $1.71 billion, while total loans were $1.002 billion. The company reports robust performance, driven by strong PPP loan activity.