Northeast Bank · NASDAQ:NBN
Northeast Bank — Q4 2025 Earnings Presentation
28 slides from Northeast Bank's earnings presentation, Jul 29, 2025
Slide 1: Investor Call FY25 Q4
INVESTOR CALL FY25 Q4 July 29, 2025
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 Q4 FY25 YTD FY25 Total Loan Volume $362.6 million $2.1 billion National Lending: $41.7 million invested on $44.4 million of UPB(1) $863.2 million invested on $946.1 million of UPB(1) Purchased Loans (93.8% purchase price) (91.2% purchase price) Originated Loans(2) $216.6 million
Slide 4: 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) 3,189 $2,375,157 $745 50%(4) Direct Originated Loans (2) 88 472,188 5,366 53% Lender Finance Loans (2) 113 779,580 6,899 45% SBA Loans (3) 4,730 1
Slide 5: National Lending Portfolio Roll Forward — Linked Quarter
National Lending Portfolio Roll Forward — Linked Quarter $4,000 $150.0 $216.6 $41.7 $110.4 $3,629.0 $3,626.9 $3,500 $3,000 Millions $2,500 $2,000 $1,500 $1,000 $500 $0 Balance at Originations Originated Run-off Purchases Purchased Run-Off Balance at 3/31/2025 (1) (1) 6/30/2025 (1) Run-off includes s
Slide 6: National Lending Purchased Activity
National Lending Purchased Activity by Trailing 5 Quarters $800 $732.9 $700 $600 $500 Millions $400 $300 $200 $143.6 $100 $74.6 $41.7 $14.0 $0 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 4
Slide 7: National Lending Originated Activity
National Lending Originated Activity by Trailing 5 Quarters $300 $246.4 $250 $218.0 $216.6 $200 Millions $150 $126.9 $114.3 $100 $50 $0 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 5
Slide 8: National Lending Loan Portfolio Statistics
National Lending Loan Portfolio Statistics Investment Size(1) $0-$2 Million $15+ Million… 24% Collateral State (44 States) All Other $10-15 Million IL 2% States 13% TX 2% 14% WA 2% $2-$6 Million FL 5% 26% $6-$10 Million NJ 7% 15% Collateral Type NY 44% Retail(2) Multifamily 20% 18% CA 24% Lender Mix
Slide 9: Asset Quality Metrics
Asset Quality Metrics NPAs & NPLs Classified Commercial Loans(1) 1.50% $35.0 $32.1 $30.0 $28.6 1.03% $24.0 0.93% $25.0 1.00% 0.90% 0.84% 0.83% 0.79% Millions $20.0 $14.7 0.55%0.62% $15.0 0.50% $10.0 $5.0 0.00% $0.0 6/30/23 6/30/24 3/31/25 6/30/25 6/30/23 6/30/24 3/31/25 6/30/25 NPAs/Assets NPLs/Loan
Slide 10: Nonperforming Assets Turnover – Quarter Ended June 30, 2025
Nonperforming Assets Turnover – Quarter Ended June 30, 2025 Nonperforming FMV of REO Total Notes Loans Collateral (1 ) (Dollars in Thousands) March 31, 2025 Balance: $32,232 $1,200 $33,432 NPL Additions: #1 8,287 - 8,287 7,040 Multi-tenant neighborhood shopping center in KS #2 3,905 - 3,905 - Select
Slide 11: Allowance Allocation
Allowance Allocation Loan Segment Loan Balances ACL Coverage ACL Coverage ACL Coverage June 30, 2025 March 31, 2025 June 30, 2024 Dollars in thousands National Lending Purchased $2,375,157 $36,002 1.52% $37,669 1.54% $20,716 1.21% Originated Loans: C&I (Lender Finance primarily) 798,061 5,437 0.68%
Slide 12: 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 27,634 41% 102,666 38% 72,677 56% 202,977 45% Hospitality 147,544 55
Slide 13: New York City Rent Controlled or Stabilized Exposure
New York City Rent Controlled or Stabilized Exposure The following summary outlines Rent Controlled and/or Rent Stabilized (“RC/RS”) exposure within the Bank’s New York City multi-family portfolio as of June 30, 2025. Of the $675.8 million of total exposure, all but three loans totalling $2.8 millio
Slide 14: 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) $53,159 $141,789 $115,198 $89,094 $70,036 $2,912 $472,188 Lender Finance Loans (1) 278,392 163,242 230,140 107,8
Slide 15: 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 $216,066 $956,419 $745,654 $457,018 $2,375,157 # of Loans 722 1,746 540 191 3,199 % of Portfolio 9% 40% 31% 19% 100% Seasoning (Year
Slide 16: 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 $779,580 57% 44% Loans with Interest Reserves 618,116 79% 4.9 Months Direct Originated Loans %
Slide 17: SBA Loan Trailing Quarters
SBA Loan Trailing 5 Quarters Loan Originations and Sales (dollars in thousands) $140,000 1200 1069 $121,333 $120,000 917 1000 $107,585 $100,290 $100,000 766 777 800 $82,425 $80,000 $73,605 $64,473 600 $63,110 $60,000 $40,158 400 373 $40,000 $26,755 200 $20,000 $10,468 $- 0 Q4 FY24 Q1 FY25 Q2 FY25 Q3
Slide 18: Quarterly Cost of Deposits
Quarterly Cost of Deposits by Trailing 5 Quarters 4.5% 4.4% 4.36% 4.34% 4.3% 4.2% 4.15% 4.1% 4.0% 3.92% 3.93% 3.9% 3.8% 3.7% 3.73% 3.6% 3.5% Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Average Cost of Deposits by Quarter Cost of Deposits at Quarter-end 16
Slide 19: Deposit Portfolio Changes
Deposit Portfolio Changes By Channels June 30, 2025 June 30, 2024 Net Change Dollars in thousands Balance WAR Mix Balance WAR Mix Balance % WAR Retail Banking Centers 1,051,192 3.29% 31% $869,002 3.56% 37% $182,191 21% -0.27% Government Banking 523,340 4.10% 16% 408,373 4.74% 17% 114,967 28% -0.64%
Slide 20: Deposit Portfolio and Interest Analysis
Deposit Portfolio and Interest Analysis Trailing Twelve-Month Deposit Portfolio and Annualized Interest Expense (Includes Brokered Deposits) $ Millions $150.0 $3,500 $130.0 $3,000 $110.0 Deposit Portfolio $2,500 $90.0 Interest Expense $2,000 $70.0 $1,500 $50.0 $1,000 $30.0 $500 $10.0 $0 $(10.0) Jul-
Slide 21: Deposit Mix
Deposit Mix by Trailing 5 Quarters $3,600 Total Total Total Total Total $2,340 $3,125 $3,152 $3,296 $3,376 $3,400 $3,200 $2,244 $2,250 $3,000 $2,092 $2,080 $2,800 $2,600 $2,400 $2,200 $1,306 $2,000 Millions $1,800 $1,600 $1,400 $1,200 $1,000 $301 $326 $314 $323 $301 $800 $831 $600 $708 $719 $749 $74
Slide 22: Revenue and Non-interest Expense
Revenue and Non-interest Expense by Trailing 5 Quarters $70 $60 $62.7 $50 $54.4 $52.6 $41.2 $40 $43.1 $35.4 $32.4 Millions $40.0 $30 $25.4 $22.9 $20 $21.5 $19.1 $20.1 $17.1 $17.7 $10 $0 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Total Revenue(1) Noninterest Expense Revenue Less Noninterest Expense (1)
Slide 23: Loan Performance & Average Loan Balance
Loan Performance & Average Loan Balance by Trailing 5 Quarters Loan Performance Average Loan Balance $4,000 Total Total Total Total Total 10.5% 9.95% $2,673 $2,839 $3,564 $3,650 $3,767 9.68% 9.31% $1,344 9.06% $3,500 $1,262 8.73% $1,157 9.0% 9.47% 8.84% 8.86% 8.76% $3,000 8.43% 7.5% $1,080 $2,500 $1
Slide 24: Purchased Loan Investment Basis and Discount
Purchased Loan Investment Basis and Discount by Trailing 5 Quarters Total UPB Total UPB Total UPB Total UPB Total UPB $1,886.4 $2,644.4 $2,598.3 $2,638.4 $2,592.0 $3,000 $37.9 $37.7 $37.7 $223.5 $194.6 $36.0 $2,500 $205.9 $179.1 $2,000 $20.7 $177.8 $1,500 Millions $2,420.9 $2,392.4 $2,443.8 $2,375.2
Slide 25: National Lending Portfolio — Q4 FY25 Return Summary
National Lending Portfolio — Q4 FY25 Return Summary (1) Purchased Originated Total Regularly Scheduled 7.99% 10.02% 8.65% Interest & Accretion Accelerated Accretion, Interest, & Fees Recognized 0.87% 0.04% 0.59% on Loan Payoffs Total 8.86% 10.06% 9.24% (1) The total return on purchased loans represe
Slide 26: Loan Mix
Loan Mix by Trailing 5 Quarters $4,000 Total Total Total Total Total $2,761 $3,503 $3,591 $3,740 $3,756 $3,600 $3,200 $2,800 $2,444 $2,375 $2,400 $2,392 $2,421 $2,000 Millions $1,709 $1,600 $1,200 (1 $800 $1,252 $1,185 $1,109 $981 $1,011 $92 $400 $111 $48 $49 $68 $22 $19 18 $0 $23 $21 Q4 FY24 Q1 FY2
Slide 27: Net Income
Net Income by Trailing 5 Quarters $25,215 $25,000 $22,440 $20,000 $18,681 $17,106 $15,140 Thousands $15,000 $10,000 $5,000 $0 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 25
Slide 28: Key Components of Income
Key Components of Income by Trailing 5 Quarters Net Interest Income Noninterest Income Before Credit Loss Provision Total Total Total Total Total Total Total Total Total Total $2,092 $4,119 $5,949 $6,619 $8,768 $37,935 $39,000 $48,490 $45,951 $53,930 $10,000 $3,768 $50,000 $9,000 $50,162 $2,908 $885