Northeast Bancorp Announces Receipt of Regulatory and Shareholder Approvals for Corporate Reorganization
Northeast Bank (NBN)
Last northeast bank earnings: 4/22 04:20 pm
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US:NASDAQ Investor Relations:
investor.northeastbank.com
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Source: GlobeNewswire
LEWISTON, Maine, May 09, 2019 (GLOBE NEWSWIRE) -- Northeast Bancorp (“Northeast” or the “Company”) (NASDAQ: NBN), a Maine-based full-service financial services company and parent of Northeast Bank (the “Bank”), today announced that the Bank has received all required regulatory approvals for its previously announced corporate reorganization, pursuant to which the Company will merge with and into the Bank, with the Bank continuing as the surviving entity (the “Reorganization”). In addition, at a special meeting held on May 9, 2019, the shareholders of the Company voted to approve the Reorganization. After completion of the Reorganization, the bank holding company structure will be eliminated and the Bank will become the top-level company, with no change to the directors or executive officers of the Bank. The Company and the Bank anticipate closing the Reorganization on May 15, 2019, subject to customary closing conditions including approval for listing of Bank’s common stock on the
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