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Northeast Bancorp (NBN)
NASDAQ:NBN
Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2025 (Q3)Consensus EPS Forecast
2.57Last Year’s EPS
1.85Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 28, 2019
|% Change Since: -0.70%
|Next Earnings Date:Jul 31, 2019
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance with record loan production and net income, supported by strategic loan purchases and an expanding SBA program. However, there are concerns about rising nonperforming loans, increased allowances, and high CRE concentration, which needs careful monitoring.Company Guidance
During the Northeast Bank Q1 2025 earnings call, management highlighted several key metrics reflecting the bank's strong performance and strategic initiatives. The bank achieved $942 million in loan production, marking the second-best quarter in its history, with $733 million in purchased loans and $209 million in originated loans. Net income reached $17.1 million, the highest level outside of PPP loan sales, contributing to an earnings per share of $2.11. The return on equity was reported at 17.53%, while the return on assets stood at 2.09%, with a tangible book value per share of $47.80. The bank's allowance for loan losses increased by $27 million, raising coverage from 0.97% to 1.25% of loans. Additionally, the small balance SBA loan program showed significant growth, with 766 loans totaling $82.4 million for the quarter. The bank maintains $23 million in availability under its at-the-market offering, with a loan capacity of $462 million as of September 30, 2024.Record Loan Production
The quarter recorded loan production of $942 million, the second best in the bank's history, with $733 million of purchased loans and $209 million of originated loans.
Highest Net Income in Non-PPP Loan Quarters
Net income reached $17.1 million, marking the highest level in the bank's history excluding quarters with PPP loans.
SBA Program Expansion
The small balance SBA program showed significant growth with 766 loans totaling $82.4 million in the quarter, nearly matching the previous fiscal year's total of $92.5 million.
Strong Return Metrics
Return on equity was 17.53%, return on assets was 2.09%, and tangible book value per share was $47.80.
Successful Loan Purchase Strategy
Purchased 191 loans with gross balances of $808 million at a purchase price of $733 million, showcasing effective acquisition and pricing.
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NBN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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NBN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 22, 2025 | $101.89 | $101.05 | -0.82% |
| Oct 29, 2024 | $87.98 | $90.80 | +3.21% |
| Jul 29, 2024 | $71.99 | $72.74 | +1.04% |
| Apr 30, 2024 | $51.70 | $53.00 | +2.51% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Northeast Bancorp (NBN) report earnings?
Northeast Bancorp (NBN) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Northeast Bancorp (NBN) earnings time?
Northeast Bancorp (NBN) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NBN EPS forecast?
NBN EPS forecast for the fiscal quarter 2025 (Q3) is 2.57.
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