Northeast Bank Reports Earnings Results for the Full Year Ended June 30, 2021
July 28, 2021 at 08:39 am
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Northeast Bank announced earnings results for the full year ended June 30, 2021. For the full year, the company announced net interest income was USD 67.086 million compared to USD 64.987 million a year ago. Net income was USD 71.503 million compared to USD 22.737 million a year ago. Basic earnings per share from continuing operations was USD 8.64 compared to USD 2.57 a year ago. Diluted earnings per share from continuing operations was USD 8.55 compared to USD 2.53 a year ago.
Northeast Bank (the Bank) is a full-service financial institution. The Bank gathers retail deposits through its seven full-service branches in Maine and through its online deposit program, ableBanking; purchase and originate commercial loans, typically secured by real estate, on a nationwide basis through its National Lending Division, and originate loans through the Community Banking Division and Small Business Administration (SBA) National Division. The National Lending Division purchases primarily performing commercial real estate loans, on a nationwide basis, typically at a discount from their unpaid principal balances. The National Lending Division also originates commercial real estate and commercial and industrial loans on a nationwide basis. The SBA National Division originates loans to small businesses to help provide funding opportunities nationally. The Community Banking Division originates loans directly to businesses located in its market area.
NORTHEAST BANK 
