Northeast Bank · NASDAQ:NBN
Northeast Bank — Q3 FY2026 Earnings Presentation
31 slides from Northeast Bank's earnings presentation, Apr 28, 2026
Slide 1: Investor Call FY26 Q3
INVESTOR CALL FY26 Q3 April 28, 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 Q3 FY26 YTD FY26 Total Loan Volume $344.7 million $1.56 billion Total Loans, including loans held for sale at March 31, 2026 $4.56 billion $4.56 billion Net Increase in Loans $121.5 million (2.7%) $769.5 million (20.3%) National Lending: $25.3 million invested on $25.9 million o
Slide 4: Our Strategy
OUR STRATEGY ——~ Northeast BANK
Slide 5: Northeast Bank is a national commercial real estate and small business lender
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 18.3% and ROA of 2.1% 3-Year Loan Growth of 80.9% Purchased Originated Small Commercial Commercial Business 3-Year Small business
Slide 6: Earnings That Scale
EARNINGS THAT SCALE EPS (Diluted) ROE $12.00 20.0% 19.0% $10.08 18.4% $10.00 17.5% $8.67 $7.58 16.5% $8.00 $5.96 $6.00 15.0% $4.00 $2.00 $— 10.0% FY 23 FY 24 FY 25 FY 26 FY 23 FY 24 FY 25 FY 26 (Q3 YTD) (Q3 YTD) Tangible Book Value per Share Efficiency Ratio (1) $70.00 $66.35 50.0% 45.6% 41.8% $60.0
Slide 7: National Lending Division: The Growth Engine
NATIONAL LENDING DIVISION THE GROWTH ENGINE $2,000 $1,872 $557 $1,754 $808 $1,500 $1,394 $640 $1,315 Millions $1,000 $832 $946 $399 $754 $500 $432 $0 FY 23 FY 24 FY 25 FY 26 (Q3 YTD) Purchases (UPB) Originations (UPB) 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 $9.2 $120.3 $110.9 $92.5 $97.2 $100 $5.0 $62.2 $3.3 $15.6 $12.0 $0.6 $0 $— FY 23 FY 24 FY 25 FY 26 (Q3 YTD) (1) SBA 7(a) Loans Funded SBA 7(a) Loans Sold Insure
Slide 9: Loan Mix
LOAN MIX Community Bank Small Business National Lending Originated (1) National Lending Purchased $5,000 $4,560 $4,000 $3,790 $2,810.9 $3,000 $2,761 $2,520 Millions $2,375.2 $2,000 $1,708.6 $1,480.1 $1,000 $1,501.1 $1,251.8 $987.8 $24.9 $981.5 $48.4 $145.0 $27.5 $22.7 $18.3 $233.1 $14.6 $0 6/30/2023
Slide 10: Funding Mix
FUNDING MIX $5,000 $4,371 $720 $4,000 $3,696 $320 $2,506 $2,244 $3,000 $2,685 Millions $345 $2,248 $1,306 $311 $2,000 $919 $93 $76 $1,000 $278 $155 $880 $899 $732 $596 $144 $147 $159 $171 $— 6/30/2023 6/30/2024 6/30/2025 3/31/2026 Demand Savings and interest checking Money market Time Borrowings 10
Slide 11: Effective Cost Management
EFFECTIVE COST MANAGEMENT $250.0 50.0% 45.6% $212.8 $200.0 45.0% 41.8% $171.3 $154.5 $150.0 40.0% Millions 38.7% $124.0 36.8% $100.0 35.0% $78.4 $64.6 $66.3 $56.5 $50.0 30.0% $0.0 25.0% FY 23 FY 24 FY 25 FY 26 (Q3 YTD) Total Revenue Non interest Expense Efficiency Ratio (1) Total Revenue includes ne
Slide 12: Quarterly Results
QUARTERLY RESULTS Northeast est
Slide 13: Net Income by Trailing Quarters
NET INCOME BY TRAILING 5 QUARTERS $35,000 $29,853 $30,000 $25,215 $25,000 $22,541 $20,740 Thousands $20,000 $18,681 $15,000 $10,000 $5,000 $0 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 13
Slide 14: Net Interest Income by Trailing Quarters
NET INTEREST INCOME BY TRAILING 5 QUARTERS $120,000 $101,871 $100,000 $89,693 $83,207 $84,087 $80,826 Thousands $80,000 $63,073 $60,000 $53,931 $48,192 $48,801 $45,951 $38,798 $40,000 $34,875 $35,762 $35,015 $35,286 $20,000 $7,862 $7,566 $993 $2,669 $2,776 $— Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26
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% $1,648 $4,000 8.73% 8.63% 9.51% 9.00% $1,474 $1,344 $1,262 $1,364 8.76% 8.03% 7.72% 8.00% 8.43% 8.21% 8.19% $3,000 Millions $2,828 7.00% $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 (2) Dollars in thousands National Lending Division: Purchased Loans (1) 3,468 $ 2,810,887 $ 811 54% Direct Originated Loans 92 604,800 6,574 53% Lender Finance Loans 123 896,280 7,287 45% SBA Loans (3) 5,577 123,20
Slide 17: National Lending Portfolio Roll Forward — Linked Quarter
NATIONAL LENDING PORTFOLIO ROLL FORWARD — LINKED QUARTER $4,750 $4,500 $253.9 $25.3 $4,312.0 $(109.4) $4,250 $4,213.5 $(71.4) Millions $4,000 $3,750 $3,500 $3,250 Balance at 12/31/25 Originations Originated Run-off Purchases Purchased Run-Off Balance at (1) (1) 3/31/2026 (1) Run-off includes schedul
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 $100,000 $107,585 $73,605 $70,610 $52,745 $50,000 $41,979 $39,802 $38,484 $33,032 $25,090 $27,020 $0 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 SBA 7a Loans Funded SBA 7a Loans Sold Insured Sm
Slide 19: Asset Quality Metrics
ASSET QUALITY METRICS NPAs & NPLs Classified Commercial Loans(1) 1.50% $40.0 $32.1 1.03% 1.00% 0.90% 0.93% $30.0 $26.3 0.83% 0.78% $24.0 0.68% Millions 0.62% 0.55% $20.0 0.50% $14.7 $10.0 —% 6/30/2023 6/30/2024 6/30/2025 3/31/2026 $— NPAs/ Assets NPLs/ Loans 6/30/2023 6/30/2024 6/30/2025 3/31/2026 A
Slide 20: Deposit Portfolio Changes
DEPOSIT PORTFOLIO CHANGES By Channels March 31, 2026 June 30, 2025 Net Change Dollars in thousands Balance WAR Mix Balance WAR Mix Balance % WAR Retail Banking Centers $ 1,166,979 3.09 % 32 % $ 1,051,192 3.29 % 31 % $ 115,787 11 % (0.20) % Government Banking 548,991 3.46 % 15 % 523,340 4.10 % 16 % 2
Slide 21: Quarterly Cost of Deposits and Cost of Funds
QUARTERLY COST OF DEPOSITS BY TRAILING 5 QUARTERS 4.00% 3.92% 3.93% 3.90% 3.75% 3.62% 3.55% 3.50% 3.47% Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Average Cost of Deposits by Quarter Cost of Deposits at Quarter-end QUARTERLY COST OF FUNDS BY TRAILING 5 QUARTERS(1) 4.00% 3.94% 3.89% 3.83% 3.75% 3.69% 3.
Slide 22: Non-Interest Expense by Trailing Quarters
NON-INTEREST EXPENSE BY TRAILING 5 QUARTERS $25 $23.6 $21.5 $21.9 $8.8 44.0% $20.8 $20.1 $9.2 $8.5 $20 $8.3 $7.7 41.4% 42.0% 40.1% Efficiency Ratio $15 40.0% Millions 38.3% $14.8 $13.0 $12.7 $12.5 $12.5 38.0% $10 35.5% 36.0% 34.3% $5 34.0% $0 32.0% Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Personnel E
Slide 23: Capital Strength
CAPITAL STRENGTH 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 Tier 1 Leverage (1) 11.5% 11.6% 12.2% 12.2% 11.4 % Tier 1 Capital (1) 12.7% 13.4% 13.9% 12.5% 12.9 % Total Capital (1) 14.0% 14.7% 15.1% 13.7% 14.2 % Purchased loans to Total Loans 65.3% 63.2% 64.1% 65.7% 63.2% Total Loans to Deposi
Slide 24: Appendix
APPENDIX ——~ Northeast BANK 94
Slide 25: National Lending Loan Portfolio Statistics
NATIONAL LENDING LOAN PORTFOLIO STATISTICS Investment Size(1) $15+ million 22% $ 0-2 million 21% Collateral State (48 States) $10-15 million All Other 14% $2-6 million 19% 26% IL 1% TX 2% $6-10 million WA 2% 17% FL 3% Collateral Type Mixed Use Industrial NJ 7% 10% 9% NY 46% Office Multifamily 9% 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 (1) Balance WA LTV (1) 1-4 Family $ 27,204 47% $ 118,869 43% $ 63,837 57% $ 209,910 48% Hospitalit
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) $ 48,986 $ 210,038 $ 135,452 $ 149,716 $ 52,278 $ 8,330 $ 604,800 Lender Finance Loans (1) 332,688 141,214 296,7
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 $ 896,280 60% 45% Loans with Interest Reserves 645,726 72% 4.3 Months Direct Originated Loans %
Slide 29: National Lending Purchased Portfolio — Further Analysis
NATIONAL LENDING PURCHASED PORTFOLIO — FURTHER ANALYSIS All data as of March 31, 2026, unless otherwise noted. 29
Slide 30: Allowance Allocation
ALLOWANCE ALLOCATION Loan balances are net of deferred fees and costs. 30
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 $45.7 $153.8 $37.7 $36.7 $36.4 $2,500 $194.6 $179.1 $171.5 $2,000 Millions $1,500 $2,856.9 $2,810.9 $2,443.8 $2,375.2 $2,406.5 $1,000 $500 $— Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Net Basis Rate Mark Dis