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Northeast Bancorp Declares Fourth Quarter Dividend

^{Published on 2010-08-05 09:45:20 - Market Wire}
 

LEWISTON, Maine--([ BUSINESS WIRE ])--Northeast Bancorp (NASDAQ: NBN), the parent company for Northeast Bank ([ www.northeastbank.com ]), today announced that its Board of Directors at its regularly scheduled meeting on July 23, 2010, declared a dividend of $0.09 per share, payable on August 27, 2010 to shareholders of record as of the close of business on August 6, 2010.

Northeast Bancorp has paid a regular cash dividend each quarter since its inception as a public company. Northeast Bancorp common shares trade on the NASDAQ Stock Exchange with approximately 2.3 million shares outstanding and, as of March 31, 2010, had a book value per share of $19.74.

About Northeast Bancorp:

Northeast Bancorp (NASDAQ: NBN) is the holding company for Northeast Bank, a leader in delivering one-stop shopping for financial services, headquartered in Lewiston, Maine. Northeast has approximately $612 million in assets as of March 31, 2010 and derives its income from a combination of traditional banking services and non-traditional financial products and services including insurance and investments, operating 10 traditional bank branches, 12 insurance offices and three investment centers that serve western, central, mid-coastal and southern Maine, as well as seacoast New Hampshire. Information regarding Northeast Bank Insurance Group, Inc. and Northeast Bank can be found at [ www.northeastbank.com ] or by contacting 800-284-5989.