Northeast Bancorp Q3 Net Income Soars to $29.9M; Assets Top $5B
Northeast Bancorp reported fiscal Q3 net income of $29.9M, or $3.53 per share, up from $18.7M, on revenue of $105.4M. The bank crossed $5.03B in assets, grew loans 20.3% to $4.56B and declared a $0.01 dividend.
1. Fiscal Third Quarter Earnings
Northeast Bancorp posted net income of $29.9 million, or $3.53 per diluted common share, for the quarter ended March 31, 2026, compared to $18.7 million, or $2.23 per share, in the prior year period. Revenue totaled $105.4 million, delivering a 21.7% return on average equity and a 2.4% return on average assets.
2. Balance Sheet Growth and Funding
Total assets reached $5.03 billion, up 17.6% from June 30, 2025, driven by a 20.3% increase in total loans to $4.56 billion, including a record $253.9 million of originated National Lending loans. Deposits rose by $275.6 million (8.2%) and Federal Home Loan Bank advances climbed 124.9% to fund loan purchases.
3. Dividend Declaration
The Board of Directors declared a cash dividend of $0.01 per share, payable May 26, 2026, to shareholders of record as of May 12, 2026.