Trade Northeast Bank - NBN CFD

Northeast Bancorp Company profile

About Northeast Bank

Northeast Bank (the Bank) is a full-service bank. The Bank offers personal and business banking services to the Maine market through approximately eight branches. The Bank conducts its lending activities through two primary channels: the National Lending Division and the Community Banking Division. It offers various loans, such as residential real estate loans, commercial and industrial loans, consumer loans, multi-family and other commercial real estate loans. It originates residential mortgage loans secured by one- to four-family properties throughout Maine. The Bank offers a line of deposit products to customers in western and south-central Maine, including demand deposit, negotiable order of withdrawal (NOW), money market, savings and certificate of deposit accounts. The Bank through its division ableBanking offers online savings products to consumers nationwide. It also offers telephone banking, online banking and bill payment, mobile banking and remote deposit capture services.

Financial summary

BRIEF: For the six months ended 31 December 2021, Northeast Bank interest income increased 13% to $41.7M. Net interest income after loan loss provision increased 32% to $40.1M. Net income increased 33% to $21.3M. Net interest income after loan loss provision reflects Other interest and dividend income increase from $142K to $292K. Net income benefited from Deposits decrease of 55% to $2.5M (expense), Subordinated debt decrease from $563K (expense) to $0K.

Equity composition

Common Stock $1 Par, 2/11, 13M auth., 3,310,173 issd. Insiders & Stakeholder owns 41.61%. IPO: 8/87, 529K shares@ $10 by Co. PO 6/98, 350K shares (0 by Co.) @ $15 by Advest, Inc. 12/97, 3-for-2 stock split; 12/95, 2-for-1 stock split. 09/07, Company delisted from AMEX to NASDAQ.