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Northeast Bank Announces Significant Loan Purchase Volume
PORTLAND, Maine, Dec. 17, 2025 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that since September 30, 2025, the Bank has
About this update from Northeast Bank
[{"type":"text","content":"PORTLAND, Maine, Dec. 17, 2025 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that since September 30, 2025, the Bank has purchased or entered into agreements to purchase commercial real estate loans in the aggregate amount of unpaid principal balance of approximately $525 million. Because the purchases will primarily close late in the quarter, the Bank anticipates there will be minimal impact on earnings for the second fiscal quarter of 2026. Discussing the purchase activity, Rick Wayne, Chief Executive Officer said, “This quarter's loan purchases rank as our third-highest volume since we started purchasing loans. This is a testament to our ability to capitalize on opportunities of all sizes in this robust secondary loan market. With a strong balance sheet and capital levels, and a team of seasoned professionals, the Bank is exceptionally well-positioned to thrive in this environment.” About Northeast BankNortheast Bank (NASDAQ: NBN) is a full-service bank headquartered in Portland, Maine. We offer personal and business banking services to the Maine market via seven branches. Our National Lending Division purchases and originates commercial loans on a nationwide basis and our SBA division originates government-guaranteed SBA loans on a nationwide basis. ableBanking, a division of Northeast Bank, offers online savings products to consumers nationwide. Information regarding Northeast Bank can be found at www.northeastbank.com. Forward-Looking StatementsStatements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We may also make forward-looking statements in other documents we file with the Federal Deposit Insurance Corporation (\"FDIC\"), in our annual reports to our shareholders, in press releases and other written materials, and in oral statements made by our officers, directors, or employees. You can identify forward-looking statements by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “outlook,” “will,” “should,” and other expressions that predict or indicate futur...