Northeast Bancorp Reports Record Fiscal 2026 Earnings and Loan Growth
Northeast Bancorp (NASDAQ:NBN) reported record fiscal 2026 results, with fourth-quarter net income reaching $34.3 million or $4.05 per diluted share. Full-year net income rose by 29% to $107.5 million as loan growth and asset-quality improvements drove performance. Total loans increased 21% year over year to $4.59 billion, supported by record national lending originations of $257.3 million in the quarter alone. The bank also purchased $94.4 million in loans during Q4, with competition for larger pools remaining intense from large credit funds. Credit quality improved significantly as nonperforming assets dropped to 67 basis points and past-due loans declined to 54 basis points. Management expects the net interest margin to remain stable despite lower purchased-loan accretion.
Tickers: $NBN
Topics: banking credit_quality financial_results loan_growth