Northeast Bank Reports First Quarter Results and Declares Dividend
Key Highlights
- ➤Net income $29.0 million, or $3.42 per diluted share, up from $22.5 million
- ➤Loan production $534.3 million, including record $258.6 million originated volume
- ➤National Lending purchased $237.6 million of loans at 93.5% average price
- ➤Total return on purchased loans increased to 9.1% from 8.2%
- ➤Cash dividend $0.01 per share payable November 23, 2026
Expert Statements
Rick Wayne, Chief Executive Officer of Northeast Bank
“We entered fiscal 2027 with strong momentum, delivering quarterly net income of $29.0 million and strong loan production of $534.3 million in the first quarter”
Rick Wayne, Chief Executive Officer of Northeast Bank
“Our National Lending Division continued to generate attractive opportunities, with originated loan volume reaching a record $258.6 million during the quarter and purchases totaling $237.6 million invested, most of which occurred at the end of the quarter.”
Rick Wayne, Chief Executive Officer of Northeast Bank
“Asset quality metrics remain healthy and shareholders’ equity grew to $628.4 million.”
Rick Wayne, Chief Executive Officer of Northeast Bank
“These results demonstrate the resilience of our business model and position us well for continued growth.”
PORTLAND, Maine, Oct. 26, 2026 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based bank, today reported net income of $29.0 million, or $3.42 per diluted common share, for the quarter ended September 30, 2026, compared to net income of $22.5 million, or $2.67 per diluted common share, for the quarter ended September 30, 2025.
The Board of Directors declared a cash dividend of $0.01 per share, payable on November 23, 2026, to shareholders of record as of November 9, 2026.
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