Northeast Bank
TypePublic
Nasdaq: NBN
Russell 2000 Component
IndustryBanking and Investments
FoundedBethel, Maine, U.S. (1872 (1872))
Headquarters
Portland, Maine
,
U.S.
Number of locations
12 Locations [1]
Area served
Maine, Massachusetts, New Hampshire
Key people
Richard Wayne, CEO, Matthew Botein, Chairman,[2]
ProductsFinancial services
ServicesFinancial services
Total assetsUS $2,174,402 on 6-30-2021[3]
Number of employees
188
Websitewww.northeastbank.com

Northeast Bank is a Maine-based full-service financial institution. Their National Lending group ("National Lending") purchases and originates commercial loans on a nationwide basis while the Community Banking group ("Community Banking") offers personal and business banking services within Maine via nine branches. Additionally, ableBanking, a division of Northeast Bank, offers online savings products to consumers nationwide. Information regarding Northeast Bank can be found at www.northeastbank.com.

Northeast Bancorp was formed from the merger of Bethel Savings Bank and Brunswick Federal Savings in 1996.[4]

Lines of Business

Northeast Bank offers traditional personal and business banking services as well as the purchase and origination of commercial loans nationally.

National Lending

Northeast Bank originates and acquires commercial real estate loans on a nationwide basis. Business lines include: bridge lending, private lender finance, and secondary market loan acquisitions.[5]

Community Banking

Through the Community Banking group, Northeast Bank offers personal banking products such as checking, savings, money market and other deposit accounts; as well as credit card accounts, residential mortgages, and personal loans.[6] Northeast Bank also offers business banking products such as savings and deposit accounts, cash management products, business credit cards, and small business loans.[7]

Online banking services are offered to both retail and commercial clients.

History

Northeast Bank Predecessors

  • Bethel Savings Bank, opened in 1872
  • Bethel Bancorp created in 1987
  • Brunswick Federal Savings Purchased in 1990
  • Cushnoc Bank and Trust of Augusta Purchased in 1997

References

  1. ↑ "Locations (About) | Northeast Bank".
  2. ↑ "Board of Directors | Northeast Bank".
  3. ↑ https://investor.northeastbank.com/node/14026/pdf
  4. ↑ Northeast Bank History; http://www.northeastbank.com/About/documents/TimelineApril08.pdf timeline
  5. ↑ National Lending; https://www.northeastbank.com/national-lending
  6. ↑ Personal Banking;https://www.northeastbank.com/personal-banking
  7. ↑ Business Banking;https://www.northeastbank.com/business-banking
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