Northeast Bank reports Q2 EPS 1.85 vs. $1.54 last year

“We had another strong quarter, with continued growth in our National Lending Division purchased portfolio,” said Rick Wayne, Chief Executive Officer. “National Lending Division volume totaled $249.6 million, including $186.1 M of purchases and $63.5M of originations. We extended our at-the-market offering, which provides the Bank with the ability to raise capital if and as needed. For the quarter, we are reporting earnings of $1.85 per diluted common share, a return on average equity of 17.4%, and a return on average assets of 1.9%.” As of December 31 total assets were $2.97B an increase of $99M, or 3.5%, from total assets of $2.87 billion as of June 30.