Northeast Bank Stock Price: Quote, Forecast, Splits & News (NBN)

Company Profile

Northeast Bank Price & Performance (NBN)

Stock Performance

Updated May 13, 8:00 PM UTC

Northeast Bank

$87.08USD

-$0.26 (-0.3%)

After Hours

+$0.43 (+0.49%)

Prev Close

$87.34

Market Cap

$694.70M

Day Range

$86.87 - $87.75

Open

$87.43

P/E Ratio

10.2

52W Range

$54.31 - $110.35

24H Volume

$2.07M

Dividend Yield

0.05%

EPS

8.57

Latest News

Northeast Bank Posts Strong Q3 Results Despite EPS Shortfall
May 9, 2025
Northeast Bank reported third-quarter net income of $18.7 million, up 34.5% year-over-year, with revenue exceeding analyst expectations. However, earnings per share of $2.23 missed forecasts, and the stock fell nearly 5% post-announcement. The bank’s loan portfolio surged to $3.8 billion, reflecting robust commercial and SBA lending.123
Dividend Declared as Northeast Bank Continues 38-Year Streak
May 1, 2025
Northeast Bank’s board declared a $0.01 per share dividend, payable May 27, extending its 38-year record of consistent payouts. The bank’s strong quarter saw a 37.7% increase in its loan portfolio and robust gains from SBA loan sales, supporting shareholder returns amid ongoing loan growth and profitability.41
Loan Growth and Deposit Gains Power Northeast Bank’s Outlook
Apr 29, 2025
Northeast Bank’s Q3 saw total loan originations reach $414 million and deposits rise by nearly 41%. The bank’s National Lending Division and SBA program drove the expansion, while a conservative risk approach and lower deposit costs position it well for future profitability, despite recent stock volatility.56

What's Happening

Peers

Earnings

Report Date

Apr 29, 2025

Reported Revenue

87.4M

Beat +74.41%

Avg 1d Change

3.39%

Report Period

Q3 2025

Reported EPS

2.2

Miss -21.2%

Implied Move 1d

—

Transcript

10m 41s

Actual results may differ materially from those discussed in the forward looking statements. Northeast Bank does not undertake any obligation to update any forward looking statements. I will now turn the call over to Rick Wayne. Mister Wayne, you may begin. Thank you, and good morning to all of you. I first want to make an observation about the quarter which is we think it was a very strong quarter. We did 400 and I'll do a little bit of rounding for this $414,000,000 of loan volume of which 74,600,000.0 was purchased dollars $218,000,000 were originated loans, which was the second best quarter for commercial real estate loan originations that we have had. The highest being the preceding quarter. And the SBA volume was 121,300,000.0 which is up from about 100,000,000 in the linked quarter. I'd point out that our net income of $18,700,000 is $4,800,000 higher than the quarter a year ago And 3,700,000.0 lower than the linked quarter, which is December 3124. I'll refer to it as the linked quarter sometimes We had ROE of 16.47% ROA of 1.86%, and our tangible book value grew to a shade under $55 at $54.84 Seems kind of funny that I would say that this was a really good quarter.

12m 47s

Given that we were $3,700,000 less of income compared to the linked quarter. [indiscernible] just point out some things that caused that to happen. Which some of which, a lot of which are just related to the quarter for reasons that you will hear as I go through this. First one, is net interest income is down $2,500,000 from the linked quarter. These are pre tax numbers I'm talking about now. And there are really two reasons for it. One, we had less accelerated income from loan payoffs on our purchased loan book that's lumpy. That number could be in any couple of quarters go up and goes well, it's never close here, but it go up. Or go up more or maybe not as much. But whatever doesn't get accelerated is income that will recognize as we hold the loans. And this is one you may not have thought of, but in the quarter that just ended, it was ninety days in the quarter as compared to ninety two days in the prior quarter and that's a difference of about $800,000 [indiscernible] I pointed out that net interest income was down 2,500,000.0 and we've identified $2,300,000 of it Non interest income was $6,600,000 in the current quarter or $700,000 higher than the linked quarter, primarily due to SBA gains.

14m 42s

The SBA business has been [indiscernible] I'll talk about it a little bit more in a in a few minutes. And on the non interest expense side, for the third quarter, unlike the first and the second, we booked $1,000,000 of incentive comp, cash incentive comp which we true up at this time. So that was something in the third quarter that was not in the linked quarter. Offset by to the positive by a few other items. I also want to take a look at the tax expense of which we had some charges this quarter that were not recurring or Our tax rate went to 36.7% compared to 33% in the prior quarter and probably year to date through December 31. There were a few items in there that are not recurring items. We booked $400,000 of expense due to the change in the Massachusetts tax law We discussed this in previous calls. But once that's fully enacted, the mastectomy goes in effect July 1, our mass tax liability is going to go down. But in the meantime, this number gets adjusted The other is, we are in we filed tax returns in 35 states And we trued up the state tax liability later in the year in this quarter for a cost another $300,000 And finally, the incentive comp included some 162 ms and other items, there was another $250,000 for that.

16m 55s

That's a lot of numbers that I put out. So let me just put a a headline on that. The income was down compared to the linked quarter but there's three or four reasons none of which go to the quality of our core business. There are items that to a large extent just occurred in the third quarter for the reasons that I I described. I do want to make a comment on our SBA business You may recall those of you that have heard these calls for a while, that when we started, we said we're going to build this with Nuity. We don't know whether there'll be customers that will be interested in this. And so we're not setting expectations at all was our intention And then it started to increase significantly. If we take a look at slide 14, in the deck, which I am getting right now. Slide 14, this is a slide that shows the growth in various components of our SBA. Business going back one year A year ago, Q3 'twenty four we originated for the quarter three thirty loans And the quarter that just ended, we originated October loans. We are one of the highest, if not the highest SBA lenders by units.

18m 38s

I'm not saying by dollars, but $10.69 I believe makes us number one. If it's not number one, I don't wanna overstate here. It's certainly in the top few. And our volume at $121,000,000 is also one of the leaders, not the number one, but I wanna say within the top 10 or so And the volume in dollars went from 29,000,000 to 121,000,000 And the loans that we sold, you can see went from in dollars 18,900,000.0 to 73,600,000.0. So, have seen very, very substantial growth in that activity In terms of our provision [indiscernible] a significant part of the $2,900,000 was attributable to the SBA where we increased the allowance by 40 basis points compared to the linked quarter was previously about $3.20 Yeah, 3.2%. Now it's about 3.6%. So, provided some more cushion in there. And for those reasons, we think even though though the dollars are are less in terms of earnings, it was a very, very strong quarter that we will continue to build on. And with that, Pat has some great things to say about our loan book. Thanks, Rick. This was a very good quarter for lending.

20m 20s

With solid purchase and origination volume, and another record for our SBA vertical. Whereas Rick pointed out, we closed just over 121,000,000 of loans up from $100,000,000 in the linked quarter. The SBA has recently revised their regulations returning to those in place prior to 2023. These changes include a cap for small balance loans of $3.50 rather than 500,000. Increasing minimum credit scores, and adding new requirements for collateral and loan documentation. We view most of these changes as positive from a credit perspective, but recognize that they will require some adjustment on our annuities technology and processes. This could mean a bit of time for us to adjust, but we feel very strongly about the growth looking forward. We remain very positive about this line of business, both in the existing loan program and with potential new small business loan products. For purchase loans, we bought 52 loans in three transactions. With gross balances of 79,000,000 and a purchase price of 75,000,000 or $0.94 excuse me. Weighted average LTV on these loans around 56% at our price and were mostly small balance with a variety of collateral types. And located along the East Coast. Beyond these purchases, we saw several opportunities that ultimately did not trade, and a few others that did, but at very thin yields, and the buyer is moving them into securitizations.

22m 1s

We're hopeful that the current pause in the securitization markets continued M and A activity, and liquidity among some banks, will create opportunities for us over the next few months. But as we always say, this is a lumpy business and you never know. In our origination business, we closed $218,000,000 for the quarter. These included 24 loans, an average balance of 9,000,000 secured with a variety of collateral types. LTVs just over 50% and an average interest rate of eight and a quarter. Like last quarter, most of these loans were in our lender finance product, which continues to show strong demand from non bank lenders. Looking forward, we have a full pipeline We are seeing some fear and cautious optimism in the real estate markets. Some investors on the sidelines and others viewing real estate as a good inflation hedge. We don't have any more insight than others, about where the real estate or lending markets will be over the next few months. Or how they will impact specific markets or collateral types, but we're patient investors and confident in our ability to source good loans assess risk, and stick to real estate with low LTVs. Also, while we don't celebrate the current market uncertainty, we're aware that opportunities often present themselves in such times, and we're prepared to take advantage of them in the event they do.

23m 28s

Rick? Pat, thank you. That was great. Now we'd like to take any questions that you might have.

23m 41s

Thank you. We'll now begin the question and answer session. If you have a question, please press 11 on your touch tone phone. If you wish to be removed from the queue, please press 11 again. You're using a speaker phone, you may need to pick up the handset first before pressing the numbers. Again, if you have a question, please press 11 again. One moment for our first question. Our first question comes from the line of Damon DelMonte from KBW. Your line is open. Damon, your line is open.

24m 27s

Hey, sorry about that guys. Apparently didn't unmute myself. Good morning and thanks for taking my questions. So first question I had was regards to the loan yields that we saw this quarter. It looks like [indiscernible] yield on the SBA portfolio was down pretty substantially from last quarter, and as well as like on the the national originated and and purchase or the national originated loans. Just wondering if you could talk a little bit about what you're seeing SBA side and kind of what the outlook might look like for that and kind of how that would figure into your margin going forward?

25m 5s

Well, all of our SBA loans are priced currently at Prime $2.75. We're gonna start taking a look at, we were allowed to charge higher rates on some of the smaller loans [indiscernible] take a look at doing some risk based pricing on that So that maybe we can, Damon, which are the numbers exactly that you're talking about so we can be responding [indiscernible] change in the rate that you're describing.

25m 36s

I think the yield on the SBA portfolio was like 9.93% this quarter versus 11.6% last quarter?

25m 50s

The Also in the group was not introduced by the operator is our Director of Accounting Rebecca Rand, who will answer that question. For you. Thank you. Thanks. Yep. So, as Rick mentioned, these loans are tied to prime, and we saw rate cuts in September, November, and December.

26m 11s

Totaling 100 basis points. And these loans reset quarterly. So, a lot of the impact of the rate cuts was not seen in Q2. [indiscernible] and we're seeing that more in Q3.

26m 25s

Got it. Okay. That's helpful. And then as far as expenses go, you know, was this quarter kind of a catch up on the on the comp accruals? And would know, should we expect a similar level, you know, north of $20,000,000 kind of going forward here? Or do you think that it's a one time catch up and it will go back to what we saw for the first couple quarters of your fiscal year?

26m 50s

Well, the comp is a half of a catch up. In the third because this is all now on the incentive, the basic comp theory of the of the bank is we don't pay bonuses once the bank does well. And we need to see how the bank does and figure out kind of what the bonus will be, the comp committee does And so that $1,000,000 was a catch up in the third quarter. And we would expect there will, which estimates roughly where we think 75% of the incentive comp will be And then there'll be another one in the fourth quarter coming up. So, those occur as they were in the past. Damon. There's a catch up in the third and the fourth our third and fourth fiscal quarter. I wouldn't expect you we're probably not going to see that in going into our next fiscal year.

27m 58s

Got it. Okay. And then I guess just lastly on loan growth and kind of the outlook there. It sounds like pipelines remain strong and obviously bulk purchases are kind of a wild card. Can't really predict those. But as far as what your pipelines are showing, you feel like you have good momentum going into the next quarter here and then through the summer months as well?

28m 23s

You know, I you know, on the first on the purchase side, there are some meaningful transactions out in the world. And so it's you heard the forward looking statement. I'm not predicting anything on the large transaction, but that certainly within the realm of possibility. And then on the origination side, I would say our pipeline is full.

28m 58s

We'll have to see, as Pat mentioned, at this point, where all of the uncertainty and the economy does to you know, the origination volume. We'll just have to see. So far we've got a big pipeline, but there are so many unintended consequences as a result of these tariff and other changes going on. We'll just have to see.

29m 28s

Okay.

29m 28s

We're only interested, of course, this sounds probably hear this from every bank, they're making good loans. We're not gonna we don't feel under any pressure, zero. Just to put loans on the balance sheet for the sake of volume.

29m 44s

Right. And the the discount think you had said you paid 94¢ or 94% of par on these purchases this quarter, which is kind of up a little bit from what we seen. Is that just a shift in the market dynamics and kind of what the level of opportunities are presenting themselves at or is there something unique to this No, the discount, you can't always compare. It's not apples to apples. The discount which very often is now, is interest rate related, If you have a higher coupon, then you're gonna have a lower discount. And vice versa. So I wouldn't read anything into that at all.

30m 26s

Got it. Okay, great. Well, thank you very much for taking my questions.

30m 30s

Thank you, Damon.

30m 32s

Thank you. One moment for our next question. Next question will come from the line of Mark Fritzschebin from Piper Sandler. Your line is open.

30m 44s

Hey, guys. Good morning. Happy Wednesday. And same to you, Mark. Thank you. Thank you.

30m 50s

Just real quick clarification. As I I may have missed this. Just to be clear, the 43 basis point drop in loan yields on a sequential quarter was primarily due to less accretion income, which you you think will sort of flow back in maybe normalize a bit in the next quarter. Is that fair?

31m 11s

Well, wanna be I wanna be explicit about it. [indiscernible] Becky, can you help me with this on the the [indiscernible] [indiscernible] yes, we had about 1,000,000 lower of accelerated compared to the linked quarter.

31m 34s

And as Rick mentioned, that is lumpy and difficult to predict based on payoffs. So, that's the primary driver. And then the other was the two fewer days in the quarter. Which was about 800,000 or so of the difference.

31m 52s

And we had some lower rates.

31m 55s

And some lower rates. It wasn't the bigger driver The biggest drivers are the ones that Becca just mentioned, but there was also some rate reduction also. Okay.

32m 8s

So, you're thinking about your margin going forward, you think it sort of comes back to to what in the next quarter, four eighty ish? Would that be a good guesstimate?

32m 24s

I think that's probably a good number within obviously give or take some Yeah, I would think so.

32m 36s

Okay. And then next, I was curious if you could share with us what you feel like you have in terms of balance sheet capacity for loan pool purchases? [indiscernible] Is that in the highlights section? $870,000,000 Thank you. $870,000,000.

33m 1s

Yes. Yeah. $870,000,000 through March 25.

33m 9s

Okay, I'd point out that I was just gonna say, Mark, you know this, of course, but for some of the other listeners, Brad, that number gets bigger as we earn more money. And it could also get bigger if we wound up selling stock under the ATM as well. So, we feel like we're in pretty good shape for opportunities Okay, great. And Pat, I heard your comments about the SBA business. And now that it's humming on all eight cylinders, I know you'll have maybe a little short term decline in origination volume because of the changes at the SBA. But longer term, how should we think about volume ramping up in this business? Is this the kind of thing that volumes could double a couple of quarters out or triple? Or can you help us think about sort of the how much of that volume you think you can do?

34m 3s

Well, the market demand is massive. I don't think there's gonna be any impact on or much impact on the top of the funnel. It's just with more documentation and more collateral requirements it's gonna take longer to close some of these loans than it's going to be it's so there could be some period of time before we ramp back up to where we're currently at. But And there are other SBA products that we're looking into. So I think long term, we're very, very positive and bullish about this program. And I just that out is we had 82,000,000 in the in two quarters ago, then a hundred million, a hundred 20,000,000 and I just want to point it out that that would have been a trajectory we would have been comfortable with. But just wanted to point out that because of these rule changes, there could be a slight lag in that [indiscernible] Okay.

35m 6s

We'd be reluctant to put out a number Mark, because other than saying what Pat is, the market is enormous. And we have with annuity we have some advantages, big head start on great technology to [indiscernible] process There have been a lot of banks that want to do these small balance loans. [indiscernible] cross to do it. If you're not doing it in real volume, it's very hard to make money. Doing a $25,000 seven SBA loan but in volume of of course, can So, think it's without putting any number on it, it's possible that this could grow very significantly And I would point out, but if it doesn't, we're now kind of on a run rate making $25,000,000 of fee income from this. Which is pretty good from where we started.

36m 12s

And we continue to refine the technology. So every quarter, some of this growth is not just market demand, but our increasing refinement of our processes. Technology to be more efficient.

36m 28s

Okay, and then my last question is, do you have an internal limit on broker deposits? I think it's 50% now of total deposits. Is there a limit you go to? 50% of assets is our limit. [indiscernible] great. Thank you. But, you know, Mark, before you go, Mark, one point on on that related to that. One of the things we've been focusing on is having a lot more on and off balance sheet liquidity. [indiscernible] kind of in very round numbers, very round we have about $400,000,000 of cash in and very liquid agency securities.

37m 14s

And on top of that, we have about how much capacity Richard or anyone with the With the Federal Home Loan Bank, we have a available capacity of 800 almost 900,000,000 and with the Federal Reserve around 300 is somewhere about $1,000,000,000 of on balance sheet and off balance sheet liquidity. So and maybe just to add to that, Mark, we've spoken on a number of the other pools about the use of brokered CDs. And we've been as you would know from previous calls, we've been on a path of reducing our FHLB so as to increase the capacity there.

38m 7s

And bring in broker CDs because, of course, we like the fact that we can terminate it gives us predictable financing. So quite conscious of not only staying within the limits on the broker fee, which we we have a a fair amount of still, but we're also trying to balance that as best as we can very deliberately to keep spare capacity and to have available capacity to add to our broker CDs if and when we need to. So we're fairly comfortable from those from that perspective.

38m 40s

Great. Thank you. Thank you, Mark.

38m 44s

Thank you. And I'm not showing any further questions at this time. Now I'll turn the call over to Rick Wayne for any closing remarks.

38m 54s

Thank you. For dialing in Thank you, Damon and Mark, for some excellent questions. And we look forward to talking to you in July to discuss our quarter and year end numbers. And other things of interest And with all of that, I would say goodbye to you.

39m 18s

Ladies and gentlemen, this concludes today's conference call. Thank you for participating. You may now disconnect. Everyone, a great day.

39m 28s

Goodbye.

Key Insights

Northeast Bank reported a strong quarter with $414 million in loan volume, including $74.6 million in purchased loans, $218 million in originated loans (second-best quarter for commercial real estate originations), and $121.3 million in SBA volume (up from $100 million in the prior quarter).
Net income was $18.7 million, up $4.8 million year-over-year but down $3.7 million from the previous quarter, primarily due to lower net interest income (down $2.5 million), fewer days in the quarter, and non-recurring tax and incentive compensation expenses.
SBA business showed significant growth: SBA loan originations increased from $29 million to $121 million year-over-year, and loans sold rose from $18.9 million to $73.6 million; Northeast Bank is among the top SBA lenders by units and within the top 10 by volume.
The bank increased its allowance for loan losses, particularly for SBA loans, raising the allowance by 40 basis points to about 3.6% of the portfolio; management remains positive about future growth despite regulatory changes that may temporarily slow SBA origination volume.
Looking forward, the loan origination pipeline remains strong, with $870 million in balance sheet capacity for loan pool purchases through March 2025; management expects net interest margin to normalize around 4.80% next quarter and is confident in liquidity and ability to capitalize on market opportunities.

Recent Transcripts

Strong quarter driven by record SBA loan growth and robust origination volume.

Northeast Bank reported record earnings, loan originations, and strong asset quality this quarter.

Income Statement

Revenue

	2020	2021	2022	2023	2024
Revenue	$76M	$136M	$105M	$122M	$151M
Cost of Revenue	$0	$0	$0	$0	$0
Gross Profit	$76M	$136M	$105M	$122M	$151M
Gross Profit %	100%	100%	100%	100%	100%
R&D Expenses	$0	$0	$0	$0	$0

Cash Flow

Net Income

	2020	2021	2022	2023	2024
Net Income	$23M	$72M	$42M	$44M	$58M
Dep. & Amort.	$3M	$2.6M	$2.6M	$3.2M	$3.1M
Def. Tax	-$4.4M	-$712K	$819K	-$4.7M	-$285K
Stock Comp.	$1.1M	$978K	$1.9M	$3.4M	$5.3M
Chg. in WC	$4.4M	-$2M	-$4.1M	$21M	-$9.1M

2020

2021

2022

2023

2024

Net Income

$23M

$72M

$42M

$44M

$58M

Dep. & Amort.

$3M

$2.6M

$3.2M

$3.1M

Def. Tax

-$4.4M

-$712K

$819K

-$4.7M

-$285K

Stock Comp.

$1.1M

$978K

$1.9M

$3.4M

$5.3M

Chg. in WC

$4.4M

-$2M

-$4.1M

$21M

-$9.1M

Balance Sheet

Cash

	2020	2021	2022	2023	2024
Cash	$144M	$1B	$172M	$198M	$242M
ST Investments	$65M	$60M	$55M	$53M	$49M
Cash & ST Inv.	$209M	$1.1B	$227M	$251M	$291M
Receivables	$0	$0	$0	$0	$0
Inventory	$0	$0	$0	$0	$0

2020

2021

2022

2023

2024

Cash

$144M

$1B

$172M

$198M

$242M

ST Investments

$65M

$60M

$55M

$53M

$49M

Cash & ST Inv.

$209M

$1.1B

$227M

$251M

$291M

Receivables

Inventory

Go Deeper

Financial information provided by Financial Modeling Prep. Options data provided by Unusual Whales. Live transcripts provided by Quartr. Reported revenue and EPS data from Earnings powered by FinChat.io. All data is provided for informational purposes only, and is not intended for trading purposes or financial, investment, tax, legal, accounting or other advice. · See all tickers.

Overview
Latest News
Earnings
Income Statement
Cash Flow
Balance Sheet
Related

Earnings

Report Date

Apr 29, 2025

Reported Revenue

87.4M

Beat +74.41%

Avg 1d Change

3.39%

Report Period

Q3 2025

Reported EPS

2.2

Miss -21.2%

Implied Move 1d

—

Transcript

10m 41s

12m 47s

14m 42s

16m 55s

18m 38s

20m 20s

22m 1s

23m 28s

Rick? Pat, thank you. That was great. Now we'd like to take any questions that you might have.

23m 41s

24m 27s

25m 5s

25m 36s

I think the yield on the SBA portfolio was like 9.93% this quarter versus 11.6% last quarter?

25m 50s

26m 11s

Totaling 100 basis points. And these loans reset quarterly. So, a lot of the impact of the rate cuts was not seen in Q2. [indiscernible] and we're seeing that more in Q3.

26m 25s

26m 50s

27m 58s

28m 23s

28m 58s

29m 28s

Okay.

29m 28s

29m 44s

30m 26s

Got it. Okay, great. Well, thank you very much for taking my questions.

30m 30s

Thank you, Damon.

30m 32s

Thank you. One moment for our next question. Next question will come from the line of Mark Fritzschebin from Piper Sandler. Your line is open.

30m 44s

Hey, guys. Good morning. Happy Wednesday. And same to you, Mark. Thank you. Thank you.

30m 50s

31m 11s

31m 34s

31m 52s

And we had some lower rates.

31m 55s

And some lower rates. It wasn't the bigger driver The biggest drivers are the ones that Becca just mentioned, but there was also some rate reduction also. Okay.

32m 8s

So, you're thinking about your margin going forward, you think it sort of comes back to to what in the next quarter, four eighty ish? Would that be a good guesstimate?

32m 24s

I think that's probably a good number within obviously give or take some Yeah, I would think so.

32m 36s

33m 1s

Yes. Yeah. $870,000,000 through March 25.

33m 9s

34m 3s

35m 6s

36m 12s

And we continue to refine the technology. So every quarter, some of this growth is not just market demand, but our increasing refinement of our processes. Technology to be more efficient.

36m 28s

37m 14s

38m 7s

38m 40s

Great. Thank you. Thank you, Mark.

38m 44s

Thank you. And I'm not showing any further questions at this time. Now I'll turn the call over to Rick Wayne for any closing remarks.

38m 54s

39m 18s

Ladies and gentlemen, this concludes today's conference call. Thank you for participating. You may now disconnect. Everyone, a great day.

39m 28s

Goodbye.

Key Insights

Northeast Bank reported a strong quarter with $414 million in loan volume, including $74.6 million in purchased loans, $218 million in originated loans (second-best quarter for commercial real estate originations), and $121.3 million in SBA volume (up from $100 million in the prior quarter).
Net income was $18.7 million, up $4.8 million year-over-year but down $3.7 million from the previous quarter, primarily due to lower net interest income (down $2.5 million), fewer days in the quarter, and non-recurring tax and incentive compensation expenses.
SBA business showed significant growth: SBA loan originations increased from $29 million to $121 million year-over-year, and loans sold rose from $18.9 million to $73.6 million; Northeast Bank is among the top SBA lenders by units and within the top 10 by volume.
The bank increased its allowance for loan losses, particularly for SBA loans, raising the allowance by 40 basis points to about 3.6% of the portfolio; management remains positive about future growth despite regulatory changes that may temporarily slow SBA origination volume.
Looking forward, the loan origination pipeline remains strong, with $870 million in balance sheet capacity for loan pool purchases through March 2025; management expects net interest margin to normalize around 4.80% next quarter and is confident in liquidity and ability to capitalize on market opportunities.

Northeast Bank Price & Performance (NBN)

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Report Period

Reported EPS

Implied Move 1d

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Key Insights