Northeast Bank Announces Significant Loan Purchase Volume
Northeast Bank (NBN)
Last northeast bank earnings: 4/22 04:20 pm
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US:NASDAQ Investor Relations:
investor.northeastbank.com
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Source: GlobeNewswire
PORTLAND, Maine, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that since June 30, 2024, the Bank has purchased primarily commercial real estate loans in the amount of unpaid principal balance of $805 million. Because the purchases closed primarily late in the quarter, there will be minimal impact on earnings for the first fiscal quarter of 2025. The Bank has funded and intends to fund the purchase of these loans primarily relying on brokered deposits and Federal Home Loan Bank advances. Discussing the purchases, Rick Wayne, Chief Executive Officer said, “We are very pleased with this quarter’s purchased loan activity, which represents the second largest quarterly loan purchase volume in the Bank’s history. We have developed a reputation in the loan purchase market as a strong and reliable counterparty. Our experienced, professional, and dedicated team allows us to take advantage of the opportunities that have been and are available t
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News
- Northeast Bank (NASDAQ: NBN) is now covered by analysts at Keefe, Bruyette & Woods. They set a "market perform" rating and a $102.00 price target on the stock.MarketBeat
- Northeast Bank First Quarter 2025 Earnings: EPS: US$2.17 (vs US$2.03 in 1Q 2024) [Yahoo! Finance]Yahoo! Finance
- Northeast Bank Reports First Quarter Results and Declares Dividend [Yahoo! Finance]Yahoo! Finance
- Northeast Bank Reports First Quarter Results and Declares DividendGlobeNewswire
- Northeast Bank Announces Dates for Fiscal 2025 First Quarter Earnings Results and Conference CallGlobeNewswire
NBN
Earnings
- 10/29/24 - Beat
NBN
Analyst Actions
- 11/21/24 - Keefe, Bruyette & Woods