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 reports earnings, dividend actions, loan activity, and operating updates for a Maine-based bank that combines community banking with nationwide specialty lending. The bank provides personal and business banking in Maine, offers digital savings products through ableBanking, and generates lending activity through its National Lending Division and Small Business segment.
Recurring developments include commercial loan originations and purchases, commercial real estate exposure, SBA and insured small-balance business lending, deposit and funding trends, FHLB advance activity, cash management and treasury services, quarterly conference calls, and management or governance changes.
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.
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.