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) reported a net income of $8.3 million ($1.12 per diluted share) for Q1 FY 2023, down from $9.9 million ($1.20 per diluted share) in Q1 FY 2022. This decline resulted from a $6.4 million decrease in correspondent fee income and a $1.1 million increase in loan loss provisions, despite a $4.8 million rise in net interest income. Notably, the National Lending Division achieved $259.3 million in loan originations, raising the portfolio by 13.5%. Total assets climbed to $1.74 billion, driven by a $159.4 million increase in loans.
Northeast Bank (NASDAQ: NBN) will announce its fiscal 2023 first quarter earnings results on October 31, 2022. Following this, a conference call will be held on November 1, 2022, at 10:00 a.m. ET, hosted by key executives including President and CEO Rick Wayne. Investors can participate by phone or via a live webcast on the Bank’s website. The call will include a slide presentation, and a replay will be available online for one year. Northeast Bank offers personal and business banking services across Maine and has a national lending division.
Northeast Bank (NASDAQ: NBN) reported a net income of $10.3 million, or $1.35 per diluted share, for Q2 2022, a decline from $21.4 million in Q2 2021. For the fiscal year, net income dropped to $42.2 million, down from $71.5 million in the previous year. The decrease was primarily due to a significant $12.6 million reduction in gains from the sale of PPP loans. Notably, the National Lending Division achieved record originations of $172.9 million in Q2 and increased yield to 7.9%. The bank declared a $0.01 dividend payable on August 23, 2022.
Northeast Bank (NASDAQ: NBN) announced it will release its fiscal 2022 fourth quarter earnings on July 25, 2022. A conference call is scheduled for July 26, 2022, at 10:00 a.m. ET, featuring executives including President Rick Wayne and CFO JP Lapointe. Investors can join the call at 866.374.5140 using PIN 31924851#, or via a live webcast accessible through Northeast Bank's website. The Bank operates seven branches in Maine and offers nationwide services through its National Lending Division and ableBanking.
Northeast Bank (NASDAQ: NBN) reported a net income of $10.6 million, or $1.36 per diluted share, for the quarter ended March 31, 2022, a decrease from $34.2 million, or $4.06 per diluted share, in the same quarter of 2021. For the nine-month period, net income was $31.9 million, down from $50.1 million year-over-year. The Board declared a $0.01 dividend per share, payable on May 18, 2022. Strong loan originations of $152.1 million were reported, with a net growth of $61.3 million in the originated portfolio, reflecting 9.9% growth compared to December 2021.
Northeast Bank (NASDAQ: NBN) announced the termination of its existing share repurchase program and initiated a new program allowing for the buyback of 1,000,000 shares or up to $40 million, representing approximately 13.1% of its outstanding common stock. The repurchases will occur in open market transactions and are subject to various factors including market conditions. The program can be suspended or terminated at any time and will expire on April 13, 2023.
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.
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