Northeast Bank (NBN)
National commercial real estate lender built on a Maine deposit charter and an SBA lending engine.
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A Maine-chartered commercial bank that rebuilt itself after a 2010 reverse acquisition as a national CRE specialty lender: the National Lending Division buys discounted loans and originates bridge CRE nationwide, an SBA National Division produces gains from government-guaranteed loan sales, and online deposit programs alongside seven Maine branches supply the funding base.
Chartered in Maine in 1872, the bank was remade in December 2010 when a team of Capital Crossing Bank alumni took control through a reverse acquisition and installed a national commercial real estate strategy.
The National Lending Division purchases seasoned CRE loans at discounts to unpaid principal balance and originates bridge CRE loans nationwide; collateral is concentrated in New York, California, Florida, and New Jersey. An SBA National Division originates government-guaranteed small-business loans and sells the guaranteed portions in the secondary market — the primary source of non-interest fee income.
Funding relies on seven Maine branches and two online deposit programs — ableBanking and NEB Online — rather than a broad physical footprint. Commercial real estate accounts for nearly the entire loan portfolio.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 3, 2026 | Piper Sandler | Reiterate | Rating: —Target: $145 | Target: $151 |
| Apr 29, 2026 | Piper Sandler | Target | Target: $133 | Target: $145 |
| Dec 18, 2025 | Piper Sandler | Target | Target: $80 | Target: $133 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $2.9M · Total debt $857.7M · Total assets $5.23B · Shareholders' equity $603.9M
- Revenue
- $104.7M
- Operating income
- $42.4M
- Net income
- $34.3M
HistoryDividendAnnual yield
| Institutions | ≥ 75.60% | 6.26M shares | |
|---|---|---|---|
| 179 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Other | ≤ 24.40% | 2.02M shares | |
| remainder | |||
8.29M company shares as of Aug 21, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Sep 2016 annual report; nothing newer is on file here.
Institutional filings for nbn (85% of the company) are not on file here, so the institutional figure is a floor.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 7.57% | 627,481 | as of Jun 30, 2026 |
Earnest Partners LLCInstitution | 7.43% | 615,748 | as of Jun 30, 2026 |
American Century Companies IncInstitution | 5.48% | 454,276 | as of Jun 30, 2026 |
State Street CorpInstitution | 4.28% | 354,784 | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 4.13% | 341,886 | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
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CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Northeast Bank | $131.86 | −0.12% | $1.10B | 10.4 | 9.0 | 2.9 | +4.1% |
| Arbor Realty Trust | $4.41 | +0.60% | $834.8M | 32.1 | 10.3 | 0.7 | −11.1% |
| Live Oak Bancshares | $37.87 | −0.08% | $1.76B | 13.4 | 10.4 | 1.6 | +10.0% |
| Byline Bancorp | $37.00 | +0.03% | $1.70B | 11.4 | 11.2 | 2.7 | +6.6% |
| Ladder Capital | $9.41 | −0.05% | $1.20B | 22.5 | 8.7 | 3.2 | −40.9% |
| Customers Bancorp | $77.35 | −0.03% | $2.67B | 9.6 | 8.6 | 1.8 | +12.4% |
| Median | 13.4 | 10.3 | 1.8 | +6.6% |