Northeast Bank Reports Third Quarter Results and Declares Dividend
Northeast Bank (NBN)
Last northeast bank earnings: 4/22 04:20 pm
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Source: GlobeNewswire
PORTLAND, Maine, April 30, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $13.9 million, or $1.83 per diluted common share, for the quarter ended March 31, 2024, compared to net income of $12.5 million, or $1.69 per diluted common share, for the quarter ended March 31, 2023. Net income for the nine months ended March 31, 2024 was $43.1 million, or $5.67 per diluted common share, compared to $32.1 million, or $4.35 per diluted common share, for the nine months ended March 31, 2023. The Board of Directors declared a cash dividend of $0.01 per share, payable on May 27, 2024, to shareholders of record as of May 13, 2024. “We reported strong results in our third fiscal quarter and surpassed $3.0 billion in assets as of March 31, 2024,” said Rick Wayne, Chief Executive Officer. “Our National Lending Division portfolio increased by $39.3 million, or 1.5%, for the quarter ended March 31, 2024. For the nine
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