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Northeast Bank Holds Groundbreaking Ceremony in Augusta

Northeast Bank Holds Groundbreaking Ceremony in Augusta

Augusta, Maine, April 27, 2026 -- Northeast Bank (the “Bank”) (NASDAQ:  NBN), recently marked the start of a new chapter with a groundbreaking ceremony for the rebuild of its Augusta banking center at 235 Western Avenue.

The event brought together Northeast Bank senior leadership, Augusta Mayor Mark O'Brien, Augusta City Manager Jared Mills, Kennebec Valley Chamber of Commerce representative Melissa Walden and representatives from H.E. Callahan Construction Co and NES Group to recognize the beginning of a new space designed to support both everyday banking needs and long-term financial goals.

“This project reflects Northeast Bank’s continued commitment to grow with the city of Augusta,” said Robert T. Banaski, Chief Retail Banking Officer at Northeast Bank. “We are building a more connected banking environment aligning day-to-day financial activity with long-term planning, providing state-of-the-art technology to help customers manage their finances.”

Demolition of the previous banking center is underway, marking the first step in preparing the space for construction. The project will continue over the coming months, with updates to be shared as it progresses. The new banking center is scheduled to open in Spring 2027.

During construction the Augusta Banking Center has relocated to a modular banking facility located on-site to continue regular business hours. 

Augusta Project Team Goundbreaking Ceremony
Pictured left to right: Marc Leblond (H.E. Callahan Construction Co), Wendy Collet (H.E. Callahan Construction Co), Chris Delamater (Northeast Bank), Melissa Walden (KV Chamber of Commerce), Paul Cavolowsky (NES Group), Vincent Sorrentino (Studio S Architecture), Melissa Faradie (NES Group), Robert T. Banaski (Northeast Bank), Bethany Belanger (Northeast Bank), Taylor Hatch (Northeast Bank), City Manager Jared Mills (City of Augusta), Steve Batchelder (Northeast Bank), and Mayor Mark O'Brien (City of Augusta).

About Northeast Bank

Northeast Bank (NASDAQ: NBN) is headquartered in Portland, Maine and operates as both a national lender and a community bank. The Bank’s National Lending Division originates and purchases commercial real estate loans across the country. This division specializes in complex credit structures and secondary market loan acquisitions, providing tailored financing solutions to a diverse national clientele. Complementing this segment, the Bank’s Small Business segment serves as a nationwide Small Business Administration Preferred Lender, offering government-guaranteed loans and small-balance insured financing. On a regional and national level, Northeast Bank provides a comprehensive suite of depository products and cash management and treasury services through a network of seven full-service branches in Maine alongside the Bank’s digital banking division, ableBanking.

For more information, please visit www.northeastbank.com.