Northeast Bank · NASDAQ:NBN
Northeast Bank — Q2 2026 Earnings Presentation
33 slides from Northeast Bank's earnings presentation, Jan 27, 2026
Slide 1: Investor Call FY26 Q2
INVESTOR CALL FY26 Q2 January 27, 2026
Slide 2: Forward-Looking Statement
FORWARD-LOOKING STATEMENT Statements in this presentation 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 th
Slide 3: Financial Highlights
FINANCIAL HIGHLIGHTS Q2 FY26 YTD FY26 Total Loan Volume $895.7 million $1.22 billion National Lending: $532.9 million invested on $575.5 million of UPB(1) $677.5 million invested on $728.2 million of UPB(1) Purchased Loans (92.6% purchase price) (93.0% purchase price) Originated Loans(2) $252.4 mill
Slide 4: Our Strategy
OUR STRATEGY ——~ Northeast BANK
Slide 5: Northeast Bank: national CRE and small business lender and Maine community bank
Northeast Bank is a national commercial real estate and small business lender and Maine community bank with over 150 years of experience. Strong returns 3-Year Avg ROE of 17.7% and ROA of 2.0% 3-Year Loan Growth of 76.1% Purchased Originated Small Commercial Commercial Business 3-Year Small business
Slide 6: Earnings That Scale
EARNINGS THAT SCALE EPS (Diluted) ROE 12 20.0% 19.0% 10.08 10 17.5% 16.5% 16.6% 8 7.58 5.96 6 5.14 15.0% 4 2 0 10.0% FY 23 FY 24 FY 25 FY 26 FY 23 FY 24 FY 25 FY 26 (Q2 YTD) (Q2 YTD) Tangible Book Value per Share Efficiency Ratio (1) $70.00 50% 46% $62.65 42% $60.00 $57.98 40.8% 40% 37% $50.00 $46.3
Slide 7: National Lending Division
NATIONAL LENDING DIVISION THE GROWTH ENGINE $2,000 $1,872 $1,315 $1,754 $946 $1,500 $1,114 Millions $386 $1,000 $832 $432 $808 $728 $500 $557 $399 $0 FY 23 FY 24 FY 25 FY 26 (Q2 YTD) Purchases Originations 7
Slide 8: Fee Income Differentiation Through Small Business Lending
FEE INCOME DIFFERENTIATION THROUGH SMALL BUSINESS LENDING $500 $25.0 $23.2 $408.5 $400 $20.0 $308.8 $300 $15.0 Millions Millions $200 $10.0 $6.3 $92.5 $100 $81.8 $70.6 $5.0 $62.2 $3.3 $25.1 $15.6 $12.0 $0.6 $0 $— FY 23 FY 24 FY 25 FY 26 (Q2 YTD) (1) SBA 7(a) Loans Funded SBA 7(a) Loans Sold Insured
Slide 9: Loan Mix
LOAN MIX Community Bank Small Business National Lending Originated National Lending Purchased $5,000 $4,438 $4,500 $4,000 $3,790 $3,500 $3,000 $2,761 $2,856.9 Millions $2,520 $2,375.2 $2,500 $2,000 $1,708.6 $1,480.1 $1,500 $1,000 $1,356.6 $48.4 $1,251.8 $145.0 $24.9 $500 $987.8 $981.5 $27.5 $22.7 $1
Slide 10: Funding Mix
FUNDING MIX $5,000 $4,320 $501 $4,000 $3,696 $2,701 $320 $2,244 $3,000 $2,685 Millions $345 $2,248 $1,306 $311 $2,000 $919 $93 $77 $1,000 $278 $155 $880 $872 $732 $596 $— $144 $147 $159 $169 6/30/2023 6/30/2024 6/30/2025 12/31/2025 Demand Savings and interest checking Money market Time Borrowings 10
Slide 11: Effective Cost Management
EFFECTIVE COST MANAGEMENT $250.0 $212.8 $200.0 $154.5 $150.0 Millions $124.0 $104.6 $100.0 $78.4 $64.6 $56.5 $50.0 $42.7 $0.0 FY 23 FY 24 FY 25 FY 26 (Q2 YTD) Total Revenue Non interest Expense (1) Total Revenue includes net interest income before credit loss provision (credit) and noninterest incom
Slide 12: Quarterly Results
QUARTERLY RESULTS Northeast est
Slide 13: Net Income by Trailing Quarters
NET INCOME BY TRAILING 5 QUARTERS $30,000 $25,215 $25,000 $22,440 $22,541 $20,740 $20,000 $18,681 Thousands $15,000 $10,000 $5,000 $0 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 13
Slide 14: Net Interest Income by Trailing Quarters
NET INTEREST INCOME BY TRAILING 5 QUARTERS $100,000 $89,693 $85,166 $84,087 $83,207 $80,826 $80,000 $60,000 Thousands $53,931 $48,490 $48,192 $48,801 $45,951 $40,000 $36,676 $35,762 $35,015 $35,286 $34,875 $20,000 $7,862 $3,072 $2,669 $2,776 $993 $— Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Interest a
Slide 15: Loan Performance & Average Loan Balance by Trailing Quarters
LOAN PERFORMANCE & AVERAGE LOAN BALANCE BY TRAILING 5 QUARTERS Loan Performance Average Loan Balance 11.00% $5,000 9.95% 10.00% 9.06% $4,000 8.73% 8.63% 9.00% $1,474 $1,344 $1,262 $1,364 8.86% 8.76% 8.03% $1,157 8.00% 8.43% 8.21% 8.19% $3,000 Millions 7.00% $2,407 $2,388 $2,423 $2,415 $2,311 $2,000
Slide 16: Loan Portfolio Summary
LOAN PORTFOLIO SUMMARY Loan Portfolio # of Loans Total Balance Average Balance WA LTV Dollars in thousands National Lending Division: Purchased Loans (1) 3,618 $ 2,856,949 $ 790 53%(4) Direct Originated Loans (2) 89 584,924 6,572 53% Lender Finance Loans (2) 115 771,645 6,710 43% SBA Loans (3) 5,317
Slide 17: National Lending Portfolio Roll Forward - Linked Quarter
NATIONAL LENDING PORTFOLIO ROLL FORWARD — LINKED QUARTER $4,500 $532.9 $4,250 $4,213.5 $(82.5) $4,000 Millions $252.4 $3,750 $(108.9) $3,619.6 $3,500 $3,250 $3,000 Balance at 9/30/25 Originations Originated Run-off Purchases Purchased Run-Off Balance at (1) (1) 12/31/2025 (1) Run-off includes schedu
Slide 18: Small Business Lending by Trailing Quarters
SMALL BUSINESS LENDING BY TRAILING 5 QUARTERS Loan Originations and Sales $150,000 $121,333 $104,468 Thousands $100,290 $100,000 $107,585 $73,605 $70,610 $64,473 $52,745 $50,000 $41,979 $39,802 $25,090 $0 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 SBA 7a Loans Funded SBA 7a Loans Sold Insured Small Bal
Slide 19: Asset Quality Metrics
ASSET QUALITY METRICS NPAs & NPLs Classified Commercial Loans(1) 1.50% $40.0 1.03% $32.1 0.93% $30.3 1.00% 0.90% $30.0 0.83% 0.80% 0.71% $24.0 0.62% Millions 0.55% 0.50% $20.0 $14.7 $10.0 —% 6/30/2023 6/30/2024 6/30/2025 12/31/2025 $— NPAs/ Assets NPLs/ Loans 6/30/2023 6/30/2024 6/30/2025 12/31/2025
Slide 20: Deposit Portfolio Changes
DEPOSIT PORTFOLIO CHANGES By Channels December 31, 2025 June 30, 2025 Net Change Dollars in thousands Balance WAR Mix Balance WAR Mix Balance % WAR Retail Banking Centers $ 1,158,973 3.10 % 30 % $ 1,051,192 3.29 % 31 % $ 107,781 10 % (0.19) % Government Banking 509,818 3.46 % 13 % 523,340 4.10 % 16
Slide 21: Quarterly Cost of Deposits by Trailing Quarters
QUARTERLY COST OF DEPOSITS BY TRAILING 5 QUARTERS 4.20% 4.15% 4.10% 4.00% 3.92% 3.93% 3.90% 3.90% 3.80% 3.70% 3.62% 3.60% 3.55% 3.50% 3.40% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Average Cost of Deposits by Quarter Cost of Deposits at Quarter-end 21
Slide 22: Non-Interest Expense by Trailing Quarters
NON-INTEREST EXPENSE BY TRAILING 5 QUARTERS $25 $21.5 $21.9 44.0% $20.8 $20.1 $9.2 $8.5 $20 $19.1 $8.3 $7.7 41.4% 42.0% $7.8 40.1% Efficiency Ratio $15 40.0% Millions 38.3% $13.0 $12.7 $12.5 $12.5 38.0% $10 $11.3 35.0% 36.0% 34.3% $5 34.0% $0 32.0% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Personnel E
Slide 23: Capital Strength
CAPITAL STRENGTH 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 Tier 1 Leverage (1) 11.2% 11.5% 11.6% 12.2% 12.2% Tier 1 Capital (1) 12.7% 12.7% 13.4% 13.9% 12.5% Total Capital (1) 13.9% 14.0% 14.7% 15.1% 13.7% Purchased loans to Total Loans 66.6% 65.3% 63.2% 64.1% 65.7% Total Loans to Deposits
Slide 24: Appendix
APPENDIX ——~ Northeast BANK 94
Slide 25: National Lending Loan Portfolio Statistics
NATIONAL LENDING LOAN PORTFOLIO STATISTICS Investment Size(1) $15+ million 21% $ 0-2 million 23% Collateral State (48 States) $10-15 million All Other 13% IL 1% 18% TX 2% $2-6 million WA 2% 27% $6-10 million FL 3% 16% Collateral Type Mixed Use Industrial NJ 8% 10% 9% NY 46% Office 9% Multifamily 18%
Slide 26: National Lending Portfolio by Collateral Type
NATIONAL LENDING PORTFOLIO BY COLLATERAL TYPE Collateral Type Direct Originated Lender Finance Purchased Total National Lending Dollars in thousands Balance WA LTV (1) Balance WA LTV (1) Balance WA LTV (2) Balance WA LTV 1-4 Family 27,251 47% 120,652 43% $ 61,614 58% 209,517 48% Hospitality 149,572
Slide 27: National Lending Portfolio - Weighted Average LTV by Bucket
NATIONAL LENDING PORTFOLIO — WEIGHTED AVERAGE LTV BY BUCKET WA LTV National Lending <40% 40-49% 50-59% 60-69% 70-79% >=80% Total Portfolio Dollars in thousands Direct Originated Loans (1) $ 50,688 $ 210,392 $ 129,028 $ 134,160 $ 52,305 $ 8,351 $ 584,924 Lender Finance Loans (1) 309,708 180,933 187,1
Slide 28: National Lending Originated Portfolio - Interest Reserve Analysis
NATIONAL LENDING ORIGINATED PORTFOLIO — INTEREST RESERVE ANALYSIS Lender Finance % with Interest Interest Reserve WA Advance Dollars in thousands Balance WA LTV(2) Reserves WA Duration Rate(1) Total Loans $ 771,645 58% 43% Loans with Interest Reserves 548,543 71% 4.0 Months Direct Originated Loans %
Slide 29: National Lending Purchased Portfolio - Further Analysis
NATIONAL LENDING PURCHASED PORTFOLIO — FURTHER ANALYSIS Portfolio Origination Year Dollars in thousands Pre-2013 2013-2018 2019-2021 2022 and later Total Current Basis $ 242,162 $ 931,394 $ 1,034,197 $ 649,196 $ 2,856,949 # of Loans 830 1,764 786 239 3,619 % of Portfolio 8% 33 % 36 % 23 % 100 % Seas
Slide 30: Allowance Allocation
ALLOWANCE ALLOCATION Total Loan ACL / Total ACL / Total Total Reserves Total Reserves Total Reserves ACL / Total Balances at Loans at Loans at Lending Division at December 31, at September at June 30, Loans at June December 31, December 31, September 30, 2025 30, 2025 2025 30, 2025 2025 2025 2025 Do
Slide 31: Purchased Loan Investment Basis and Discount by Trailing Quarters
PURCHASED LOAN INVESTMENT BASIS AND DISCOUNT BY TRAILING 5 QUARTERS $3,500 $52.5 $3,000 $181.1 $37.7 $37.7 $36.7 $36.4 $2,500 $205.9 $194.6 $179.1 $171.5 $2,000 Millions $1,500 $2,856.9 $2,392.4 $2,443.8 $2,375.2 $2,406.5 $1,000 $500 $— Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY 26 Q2 FY 26 Net Basis Rate Mark D
Slide 32: Deposit Portfolio and Interest Analysis
DEPOSIT PORTFOLIO AND INTEREST ANALYSIS Trailing Twelve-Month Deposit Portfolio and Annualized Interest Expense (Includes Brokered Deposits) $ Millions $4,000 $15 $3,500 $13 $3,000 $10 $2,500 Interest Expense Deposit Portfolio $2,000 $8 $1,500 $5 $1,000 $3 $500 $0 $0 Jan-25 Feb-25 Mar-25 Apr-25 May-
Slide 33: Deposit Mix by Trailing Quarters
DEPOSIT MIX BY TRAILING 5 QUARTERS $4,200 Total $3,819 $3,900 Total Total $2,701 $3,600 $3,376 Total Total $3,296 $3,250 $3,300 $3,152 $2,244 $2,250 $2,176 $3,000 $2,080 $2,700 Millions $2,400 $2,100 $1,800 $1,500 $1,200 $301 $283 $900 $323 $301 $288 $831 $786 $835 $600 $749 $745 $300 $— Q2 FY25 Q3