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Company Reports Q4 Revenue of $65.24M, Below Expectations
Reports Q4 revenue $65.24M, consensus $67.21M. Reports Q4 quarterly loan volume totaled $389.8M, which included a record $257.3M of National Lending originated loans. "We finished the fiscal year with exceptional results, delivering record annual earnings and a third straight quarter of record loan origination volume," said CEO Rick Wayne.
Rick Wayne Reports Q3 Tangible Book Value per Share at $66.35
Reports Q3 tangible book value per share $66.35. Reports Q3 CET1 capital ratio 12.95%. "I am pleased to report another quarter of excellent earnings and record origination volume," said Rick Wayne, CEO. "Net income of $29.9 million resulted in a return on average equity of 21.7% and a return on average assets of 2.4%. Quarterly loan volume totaled $344.7 million, which included a record $253.9 million of National Lending originated loans. We crossed five billion dollars in total assets this quarter, with total loans, including loans held for sale, at March 31, 2026 of $4.56 billion, representing an increase of $769.5 million, or 20.3%, over June 30, 2025."
Bank Reports $895.7 Million Loan Volume in Q2
"The Bank generated strong loan activity during the second fiscal quarter," said Rick Wayne, CEO. "Quarterly loan volume totaled $895.7 million, consisting of $532.9 million of purchased loans at an average price of 92.6% of unpaid principal balance, a record $252.4 million of National Lending originated loans, $39.8 million of SBA 7(a) loans and $70.6 million of insured small balance business loans. Total loans at December 31, 2025 were $4.35 billion, representing an increase of $594.4 million or 15.8% over June 30, 2025. The majority of the loan activity occurred late in the second fiscal quarter, resulting in minimal impact on the quarter's average loan balance of $3.89 billion and net interest income. This loan growth provides a strong tailwind for net interest income in the next and subsequent quarters. Our capital levels remain strong and provide us with the capacity to respond to opportunities available in the marketplace."
Northeast Bank CFO Richard Cohen Resigns; Santino Delmolino to Take Over
Northeast Bank announced that Richard Cohen has informed the Bank that he will step down as CFO to pursue other opportunities. Mr. Cohen will continue in his role through October 31, 2025. Santino Delmolino, who currently serves as the Corporate Controller of the Bank, will assume the role of CFO, effective October 31, 2025.
Northeast Bank reports Q4 EPS $3.00 vs. $1.91 last year
Reports Q4 tangible book value per share $57.98. Reports Q4 CET1 capital ratio per share 13.44%. "I am pleased to report a very strong quarter," said Rick Wayne, CEO. "Excluding a single quarter in which we had substantial gains from the sale of PPP loans, the June 30, 2025 quarter generated record earnings primarily attributable to record net interest income. We are reporting earnings of $3.00 per diluted common share, a return on average equity of 20.7%, and a return on average assets of 2.4%. Lending activity remained strong with total quarterly originations and purchases of $365.6 million. Originations and purchases for the year ending June 30, 2025 was $2.08 billion. At June 30, 2025, the loan portfolio, including loans held for sale, totaled $3.79 billion, representing an increase of $1.03 billion, or 37.3%, over June 30, 2024."
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