Northeast Bancorp (NASDAQ: NBN) (“Northeast” or the “Company”) announced today that its insurance division – Northeast Bank Insurance Group – has been acquired by local agencies in two separate transactions, effective September 1, 2011. The Varney Agency, of Bangor, Maine, will purchase the assets of nine Northeast Bank insurance offices which cover southern, central, and western Maine.
Northeast Bancorp (“Northeast” or the “Company”) (NASDAQ: NBN), a Maine-based full-service financial services company and parent of Northeast Bank, today reported net income of $529,000 or $0.12 per diluted common share for its fiscal 2012 first quarter ended September 30, 2011.
The Board of Directors has declared a cash dividend of $0.09 per share, payable on November 28, 2011 to shareholders of record as of November 14, 2011.
Northeast Bank announced today a significant donation of $2,500 to the Mid Coast Hunger Prevention Program, in support of its Annual Charity Auction, which takes place from 5 – 8 pm on October 22nd at The Knights of Columbus Hall in Brunswick. Local bank representatives will join other area supporters to volunteer at the important MCHPP event, helping to answer phones and showcase auction items.