Northeast Bank (NASDAQ: NBN) has been named to the Piper Sandler Sm-All Stars Class of 2023, a list of 31 top-performing small-cap banks and thrifts in the country.
Portland, ME (March 16, 2023) - Northeast Bank announced today they are receiving the AARP BankSafe™ Trained Seal in recognition of taking additional steps to prevent financial exploitation. The BankSafe™ initiative supports Northeast Bank's commitment to safeguarding customer assets and providing secure and accessible banking tools for Mainers.
Portland, Maine, (March 1, 2023) – Northeast Bank announced today that Stevan Stromsky joined the bank as Senior Vice President, Community Banking Development Officer for the greater Portland, Maine market. In this new role, Stromsky will help individuals and businesses access deposit products and services designed to help them earn a higher rate of return and save money on fees.
Portland, ME (March 1, 2021) – Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today the Board of Directors has elected Matthew Botein as the Chairman of the Board of Directors. Mr. Botein is a member of the Bank’s Risk Management Committee and Loan and Investment Committee and serves as Chairman of the Bank’s Compensation Committee. Mr. Botein succeeds Robert R. Glauber as Chairman of the Board of Directors of the Bank. Mr. Botein has been a member of the Board of Directors since 2010.
Portland, ME (February 18, 2021) – Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today the passing on February 14 of the Chairman of its Board of Directors, Robert R. Glauber. Mr. Glauber had served as Chairman of the Board since 2010, Chair of the Bank’s Governance Committee and a member of its Compensation Committee.
Portland, ME (January 22, 2021) - Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2021 second quarter earnings results on Wednesday, January 27, 2021. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. EST on Thursday, January 28, 2021. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, JP Lapointe, Chief Financial Officer, and Pat Dignan, Executive Vice President and Chief Credit Officer.
Portland, ME (Dec. 17, 2020) - Northeast Bank (the “Bank”) announced today a $10,000 donation to local food pantries. This commitment combined with $10,000 previously donated to Maine food banks in 2020, brings the Bank’s annual contribution to over $20,000. These charitable contributions reinforce the Bank’s outreach program and giveback mission to support communities through donations, event sponsorship, and employee volunteerism.
Portland, ME (October 26, 2020) - Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2021 first quarter earnings results on Thursday, October 29, 2020. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. EDT on Friday, October 30, 2020. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, JP Lapointe, Chief Financial Officer, and Pat Dignan, Executive Vice President and Chief Credit Officer.
Portland, ME (June 25, 2020) - Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today that it has entered into a Loan Purchase and Sale Agreement (the “Loan Sale Agreement”) with The Loan Source, Inc. (“Loan Source”) and agreed to sell to Loan Source $457.6 million of loans originated by the Bank in connection with the Small Business Administration’s Paycheck Protection Program (“PPP”). After amortizing previously unamortized PPP loan origination fees, the Bank will realize a pre-tax gain of approximately $9.8 million in the current fiscal quarter as a result of the sale. In addition, the Bank will receive fee income on the loans sold until such time as the loans are forgiven or repaid.
Lewiston, ME (April 14, 2020) - Northeast Bank (the “Bank”) announced today a $10,000 donation to support the COVID-19 relief efforts of five organizations located in Maine and Massachusetts. This commitment is in addition to the Bank’s $2,500 pledge to the Maine Banker’s Association’s ‘Maine Banks for Food Banks’ campaign that raised a total of $61,000 for local food pantries in every county across the state of Maine.
Lewiston, Maine (March 24, 2020) - With the spread of COVID-19 and social distancing in place, many Mainers find themselves out of work or working remotely with children home due to school closings. Many of Maine’s school children depend on school meals for their nutrition and in this current crisis may be forced to go hungry. To support families in need, the Maine Bankers Association has rallied 34 Maine banks to raise $61,000 in a matter of hours to support food pantries throughout the state.
Lewiston, Maine (April 19, 2019) - Northeast Bank announced today the appointment of Rachel Edwards as Banking Center Manager of its Poland location.
Ms. Edwards joins the bank from Androscoggin Bank in Lewiston where she served most recently as Client Service Supervisor and previously as a Compliance & Risk Specialist. She was responsible for day-to-day operations at two branch locations, including oversight of all operational procedures, branch sales goals and team building efforts.