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Northeast Bank provides various banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; and consumer loans, including mobile home and overdraft, and deposit-secured loans. The company also provides telephone banking, online banking and bill payment, mobile banking, and remote deposit capture services, as well as debit and credit card, ATM, electronic transfer, and check services. Northeast Bank was founded in 1872 and is headquartered in Portland, Maine.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $204M | - | $83M | $53M | 16.9% | 35.1% | 43.3% |
| 2024 | $151M | - | $58M | $0M | 15.5% | 24.5% | 31.8% |
| 2023 | $121M | - | $44M | $58M | 14.9% | 16.0% | 4.8% |
| 2022 | $105M | - | $42M | $29M | 17.0% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 104.67 | 121.44 | 151.20 | 204.27 |
| Operating Revenue | - | 104.67 | 121.44 | 151.20 | 204.27 |
| Selling General And Administration | - | 32.27 | 37.87 | 43.88 | 50.77 |
| Interest Income | - | 88.54 | 177.17 | 257.89 | 325.54 |
| Interest Expense | - | 5.11 | 58.38 | 109.31 | 138.17 |
| Net Interest Income | - | 83.42 | 118.80 | 148.57 | 187.37 |
| Pretax Income | - | 61.55 | 65.22 | 88.12 | 125.70 |
| Tax Provision | - | 19.39 | 21.03 | 29.88 | 42.25 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.05 | -0.02 | -0.01 | 0 |
| Net Income Continuous Operations | - | 42.16 | 44.19 | 58.23 | 83.44 |
| Net Income From Continuing And Discontinued Operation | - | 42.16 | 44.19 | 58.23 | 83.44 |
| Net Income From Continuing Operation Net Minority Interest | - | 42.16 | 44.19 | 58.23 | 83.44 |
| Net Income | - | 42.16 | 44.19 | 58.23 | 83.44 |
| Net Income Common Stockholders | - | 42.16 | 44.19 | 58.23 | 83.44 |
| Net Income Including Noncontrolling Interests | - | 42.16 | 44.19 | 58.23 | 83.44 |
| Normalized Income | - | 42.27 | 44.24 | 58.25 | 83.44 |
| Diluted NI Availto Com Stockholders | - | 42.16 | 44.19 | 58.23 | 83.44 |
| Basic Average Shares | - | 7.81 | 7.35 | 7.57 | 8.09 |
| Diluted Average Shares | - | 7.90 | 7.41 | 7.68 | 8.28 |
| Reconciled Depreciation | - | 2.60 | 3.21 | 3.06 | 3.15 |
| Total Unusual Items | - | -0.16 | -0.07 | -0.03 | 0 |
| Total Unusual Items Excluding Goodwill | - | -0.16 | -0.07 | -0.03 | 0 |
| Gain On Sale Of Security | - | -0.51 | -0.21 | 0 | 0.12 |
| Depreciation Amortization Depletion Income Statement | 0 | 0 | - | - | - |
| Depreciation And Amortization In Income Statement | 0 | 0 | - | - | - |
| General And Administrative Expense | - | 31.53 | 36.94 | 42.88 | 50.35 |
| Other Gand A | 4.47 | 4.54 | - | - | - |
| Salaries And Wages | - | 31.14 | 35.72 | 41.61 | 47.98 |
| Insurance And Claims | - | 0.40 | 1.22 | 1.26 | 2.37 |
| Selling And Marketing Expense | - | 0.73 | 0.92 | 1 | 0.42 |
| Amortization | 0 | 0 | - | - | - |
| Amortization Of Intangibles Income Statement | 0 | 0 | - | - | - |
| Occupancy And Equipment | - | 3.56 | 4.21 | 4.27 | 4.55 |
| Professional Expense And Contract Services Expense | - | 1.89 | 2.55 | 2.37 | 2.59 |
| Other Non Interest Expense | - | 7.87 | 9.39 | 10.80 | 11.91 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Northeast Bankthis co. | NBN | $1.0B | 12.39 | 2.09 | 16.9% | - |
| Coastal Financial Corporation | CCB | $1.1B | 22.81 | 2.18 | 9.6% | - |
| Porch Group, Inc. | PRCH | $1.1B | -314.12 | -42.88 | 13.7% | 15.96 |
| HBT Financial, Inc. | HBT | $1.0B | 13.54 | 1.69 | 12.5% | - |
| OceanFirst Financial Corp. | OCFC | $1.0B | 14.45 | 0.62 |
| - |
| - |
| - |
| - |
| 4.3% |
| - |
| Safety Insurance Group, Inc. | SAFT | $1.0B | 10.16 | 1.12 | 11.1% | - |
| Virtus Investment Partners, Inc. | VRTS | $995M | 7.19 | 1.06 | 14.8% | 8.13 |
| Universal Insurance Holdings, Inc. | UVE | $990M | 5.41 | 1.80 | 33.2% | - |
| Southside Bancshares, Inc. | SBSI | $980M | 14.15 | 1.16 | 8.2% | - |
| Peer Median | - | 11.85 | 1.14 | 11.8% | 12.04 | |