Banking shares: Northeast Bancorp (NBN) (1872)

Northeast Bancorp (NASDAQ:NBN) was founded in 1872, formerly known as Bethel Bancorp, Inc., and changed to its current name in 1996. Headquartered in Lewiston, Maine, USA, it has 174 full-time employees and is a bank holding company. The company, which controls Northeast Bank, mainly provides banking and financial services to individual and corporate customers in Maine, USA.

Northeast Bancorp Logo

Northeast Bancorp (NBN):

Northeast Bancorp provides a series of banking and financial services to individuals and enterprises through the controlling bank Northeast Bank. The service items include various types of deposits, mortgages, consumer funds and corporate loans.

In addition, Northeast Bank is also engaged in securities brokerage and investment advisory services.

As of September 30, 2015, Northeast Bank operated 10 full-service branches and 2 loan offices.

History of Northeast Bancorp (NBN):

Notable Firsts

  • First Maine savings bank to receive a trust charter in 1983.
  • First savings bank holding company in Maine to own and operate an insurance company in 2002.
  • First Maine bank to offer health savings accounts in 2004.
  • First State Chartered Bank in Maine to convert to Federal Charter in 1983.

Northeast Bank Predecessors

  • Bethel Savings Bank, opened in 1872
  • Bethel Bancorp created in 1987
  • Brunswick Federal Savings Purchased in 1990
  • Cushnoc Bank and Trust of Augusta Purchased in 1997

Northeast Financial Predecessors

  • First New England Benefits, purchased in 1993—formed employee benefits division

Northeast Bank Insurance Group, Inc. Predecessors

  • Kendall Insurance Agency (purchased in 2002)
  • Solon-Anson Insurance agency (purchased in 2004)
  • Palmer Insurance Agency; Sturtevant & Ham Insurance Agency (all purchased in 2006)
  • Southern Maine Insurance Agency; Hartford Agency; Russell Agency; Spence & Mathews Agency; Hyler Agency (all purchased in 2007)
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