Northeast Bank's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Jun 30, 2018 · FY), Northeast Bank reported net income of $16.2M (+31.0% year on year).
| Line item | Jun 30, 2018 · FY | Jun 30, 2017 · FY | Jun 30, 2016 · FY | Jun 30, 2015 · FY |
|---|---|---|---|---|
| Interest and fees on loans | $62.1M | $55.9M | $45.8M | $43.4M |
| Interest on available-for-sale securities | $1.1M | $1.0M | $930.0K | $913.0K |
| Other interest and dividend income | $2.6M | $1.0M | $456.0K | $292.0K |
| Total interest and dividend income | $65.9M | $57.9M | $47.2M | $44.6M |
| Deposits | $9.9M | $7.4M | $6.0M | $5.0M |
| Federal Home Loan Bank advances | $547.0K | $800.0K | $1.0M | $1.1M |
| Subordinated debt | $2.1M | $1.9M | $651.0K | — |
| Obligation under capital lease agreements | $38.0K | $51.0K | $63.0K | $74.0K |
| Total interest expense | $12.6M | $10.1M | $7.9M | $7.2M |
| Net interest and dividend income before provision for loan losses | $53.3M | $47.8M | $39.4M | $37.4M |
| Provision for loan losses | $1.4M | $1.6M | $1.6M | $717.0K |
| Net interest and dividend income after provision for loan losses | $51.9M | $46.2M | $37.8M | $36.7M |
| Fees for other services to customers | $1.8M | $2.0M | $1.7M | $1.5M |
| Gain on sales of residential loans held for sale | $931.0K | $1.5M | $1.7M | — |
| Gain on sales of SBA loans | $3.0M | $5.3M | $4.2M | — |
| Gain on sale of other loans | $918.0K | $365.0K | — | — |
| Loss recognized on real estate owned and other repossessed collateral and premises and equipment, net | ($123.0K) | ($23.0K) | ($255.0K) | — |
| Bank-owned life insurance income | $441.0K | $454.0K | $449.0K | $440.0K |
| Other noninterest income | $84.0K | $219.0K | $60.0K | $29.0K |
| Total noninterest income | $7.0M | $9.7M | $7.8M | $7.1M |
| Salaries and employee benefits | $21.6M | $21.7M | $19.5M | $18.8M |
| Occupancy and equipment expense | $4.6M | $5.0M | $5.2M | $4.9M |
| Professional fees | $1.7M | $1.7M | $1.5M | $1.7M |
| Data processing fees | $2.4M | $1.7M | $1.5M | $1.4M |
| Marketing expense | $472.0K | $392.0K | $285.0K | $244.0K |
| Loan acquisition and collection expense | $1.4M | $1.7M | $1.4M | $1.5M |
| FDIC insurance premiums | $317.0K | $303.0K | $489.0K | $504.0K |
| Intangible asset amortization | $433.0K | $432.0K | $477.0K | $589.0K |
| Other noninterest expense | $2.8M | $2.8M | $3.5M | $3.0M |
| Total noninterest expense | $35.7M | $35.8M | $33.8M | $32.6M |
| Income before income tax expense | $23.2M | $20.1M | $11.7M | $11.1M |
| Income tax expense | $7.0M | $7.8M | $4.1M | $4.0M |
| Net income | $16.2M | $12.3M | $7.6M | $7.1M |
| Basic (in shares) | 8.9M | 8.9M | 9.5M | 10.0M |
| Diluted (in shares) | 9.1M | 9.0M | 9.5M | 10.0M |
| Basic (in dollars per share) | $1.81 | $1.39 | $0.80 | $0.72 |
| Diluted (in dollars per share) | $1.77 | $1.38 | $0.80 | $0.72 |
| Cash dividends declared per common share (in dollars per share) | $0.04 | $0.04 | $0.04 | $0.04 |
| Line item | Mar 31, 2019 · Q3 | Dec 31, 2018 · Q2 | Sep 30, 2018 · Q1 | Mar 31, 2018 · Q3 |
|---|---|---|---|---|
| Interest and fees on loans | $18.8M | $18.9M | $17.5M | $15.4M |
| Interest on available-for-sale securities | $444.0K | $425.0K | $362.0K | $280.0K |
| Other interest and dividend income | $939.0K | $970.0K | $880.0K | $795.0K |
| Total interest and dividend income | $20.2M | $20.3M | $18.8M | $16.5M |
| Deposits | $4.4M | $4.0M | $3.7M | $2.7M |
| Federal Home Loan Bank advances | $116.0K | $125.0K | $118.0K | $118.0K |
| Subordinated debt | $578.0K | $573.0K | $601.0K | $525.0K |
| Obligation under capital lease agreements | $5.0K | $6.0K | $7.0K | $10.0K |
| Total interest expense | $5.1M | $4.7M | $4.4M | $3.3M |
| Net interest and dividend income before provision for loan losses | $15.0M | $15.6M | $14.4M | $13.1M |
| Provision for loan losses | $414.0K | $101.0K | $532.0K | $364.0K |
| Net interest and dividend income after provision for loan losses | $14.6M | $15.5M | $13.8M | $12.8M |
| Fees for other services to customers | $408.0K | $340.0K | $492.0K | $435.0K |
| Gain on sales of SBA loans | $568.0K | $942.0K | $851.0K | $560.0K |
| Gain on sales of residential loans held for sale | $108.0K | $104.0K | $174.0K | $227.0K |
| Gain on sales of other loans | $582.0K | — | — | $516.0K |
| Net unrealized gain on equity securities | $65.0K | $50.0K | ($40.0K) | — |
| Bank-owned life insurance income | $108.0K | $110.0K | $110.0K | $108.0K |
| Other noninterest income | $27.0K | $23.0K | $7.0K | $32.0K |
| Total noninterest income | $1.9M | $1.5M | $1.6M | $1.9M |
| Salaries and employee benefits | $5.8M | $5.7M | $5.5M | $5.3M |
| Occupancy and equipment expense | $957.0K | $957.0K | $1.1M | $1.2M |
| Professional fees | $483.0K | $656.0K | $534.0K | $423.0K |
| Data processing fees | $827.0K | $830.0K | $601.0K | $619.0K |
| Marketing expense | $160.0K | $130.0K | $124.0K | $172.0K |
| Loan acquisition and collection expense | $609.0K | $585.0K | $439.0K | $264.0K |
| FDIC insurance premiums | $81.0K | $81.0K | $81.0K | $77.0K |
| Intangible asset amortization | $107.0K | $109.0K | $109.0K | $107.0K |
| Other noninterest expense | $746.0K | $856.0K | $831.0K | $825.0K |
| Total noninterest expense | $9.8M | $9.9M | $9.4M | $9.0M |
| Income before income tax expense | $6.7M | $7.2M | $6.0M | $5.7M |
| Income tax expense | $1.9M | $2.1M | $1.5M | $1.7M |
| Net income | $4.8M | $5.1M | $4.5M | $3.9M |
| Basic (in shares) | 9.0M | 9.0M | 9.0M | 8.9M |
| Diluted (in shares) | 9.2M | 9.2M | 9.2M | 9.1M |
| Basic (in dollars per share) | $0.53 | $0.57 | $0.50 | $0.44 |
| Diluted (in dollars per share) | $0.52 | $0.56 | $0.49 | $0.43 |
| Cash dividends declared per common share (in dollars per share) | $0.01 | $0.01 | $0.01 | $0.01 |
| Line item | Jun 30, 2018 · FY | Jun 30, 2017 · FY | Jun 30, 2016 · FY | Jun 30, 2015 · FY |
|---|---|---|---|---|
| Cash and due from banks | $3.9M | $3.6M | $2.5M | $2.8M |
| Short-term investments | $153.5M | $159.7M | $148.7M | $87.1M |
| Total cash and cash equivalents | $157.4M | $163.3M | $151.2M | $89.8M |
| Available-for-sale securities, at fair value | $87.7M | $96.7M | $100.6M | $101.9M |
| Residential real estate loans held for sale | $3.4M | $4.5M | $6.4M | — |
| SBA loans held for sale | $3.8M | $191.0K | $1.1M | — |
| Total loans held for sale | $7.2M | $4.7M | $7.5M | — |
| Loans | $871.8M | $779.2M | $692.4M | $612.1M |
| Less: Allowance for loan losses | $4.8M | $3.7M | $2.4M | $1.9M |
| Loans, net | $867.0M | $775.5M | $690.1M | $610.2M |
| Premises and equipment, net | $6.6M | $6.9M | $7.8M | $8.3M |
| Real estate owned and other repossessed collateral, net | $2.2M | $826.0K | $1.7M | $1.7M |
| Federal Home Loan Bank stock, at cost | $1.7M | $1.9M | $2.4M | $4.1M |
| Intangible assets, net | $867.0K | $1.3M | $1.7M | $2.2M |
| Servicing rights, net | $3.0M | $2.8M | — | — |
| Bank-owned life insurance | $16.6M | $16.2M | $15.7M | $15.3M |
| Other assets | $7.6M | $6.6M | $7.5M | $8.3M |
| Total assets | $1.2B | $1.1B | $986.2M | $850.8M |
| Demand | $72.3M | $69.8M | $66.7M | $60.4M |
| Savings and interest checking | $109.6M | $108.4M | $107.2M | $100.1M |
| Money market | $420.9M | $374.6M | $275.4M | $168.5M |
| Time | $352.1M | $337.0M | $351.1M | $345.7M |
| Total deposits | $954.9M | $889.9M | $800.4M | $674.8M |
| Federal Home Loan Bank advances | $15.0M | $20.0M | $30.1M | $30.2M |
| Subordinated debt | $24.0M | $23.6M | $23.3M | — |
| Capital lease obligation | $605.0K | $873.0K | $1.1M | $1.4M |
| Other liabilities | $24.8M | $19.7M | $14.6M | $10.7M |
| Total liabilities | $1.0B | $954.1M | $869.6M | $738.0M |
| Common Stock | $8.9M | $8.8M | $9.3M | $9.6M |
| Additional paid-in capital | $77.0M | $77.5M | $83.0M | $85.5M |
| Retained earnings | $54.2M | $38.1M | $26.2M | $19.0M |
| Accumulated other comprehensive loss | ($1.8M) | ($1.6M) | ($1.9M) | ($1.3M) |
| Total shareholders' equity | $138.4M | $122.8M | $116.6M | $112.8M |
| Total liabilities and shareholders' equity | $1.2B | $1.1B | $986.2M | $850.8M |
| Line item | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Mar 31, 2018 |
|---|---|---|---|---|
| Cash and due from banks | $2.5M | $2.4M | $2.7M | $3.6M |
| Short-term investments | $150.3M | $135.2M | $203.0M | $218.4M |
| Total cash and cash equivalents | $152.9M | $137.6M | $205.7M | $222.1M |
| Available-for-sale securities, at fair value | $76.9M | $78.1M | $79.2M | $89.7M |
| Equity securities, at fair value | $6.8M | $6.7M | $6.6M | — |
| Total investment securities | $83.8M | $84.8M | $85.8M | — |
| Residential real estate loans held for sale | $1.3M | $1.5M | $1.9M | $2.7M |
| Total loans held for sale | $1.3M | $1.8M | $3.3M | $4.5M |
| Loans | $961.7M | $938.3M | $887.2M | $816.4M |
| Less: Allowance for loan losses | $5.7M | $5.3M | $5.3M | $4.7M |
| Loans, net | $956.0M | $933.0M | $881.9M | $811.7M |
| Premises and equipment, net | $5.8M | $6.1M | $6.3M | $6.8M |
| Real estate owned and other repossessed collateral, net | $2.0M | $1.5M | $1.5M | $947.0K |
| Federal Home Loan Bank stock, at cost | $1.3M | $1.7M | $1.7M | $1.8M |
| Intangible assets, net | $542.0K | $649.0K | $758.0K | $975.0K |
| Loan servicing rights, net | $2.9M | $2.9M | $3.0M | $3.0M |
| Bank-owned life insurance | $16.9M | $16.8M | $16.7M | $16.5M |
| Other assets | $8.0M | $7.2M | $7.0M | $8.1M |
| Total assets | $1.2B | $1.2B | $1.2B | $1.2B |
| Demand | $76.0M | $68.3M | $67.5M | $66.1M |
| Savings and interest checking | $104.7M | $107.8M | $109.6M | $108.7M |
| Money market | $296.7M | $345.1M | $398.4M | $490.2M |
| Time | $539.2M | $464.3M | $440.0M | $311.3M |
| Total deposits | $1.0B | $985.6M | $1.0B | $976.3M |
| Federal Home Loan Bank advances | $15.0M | $15.0M | $15.0M | $15.0M |
| Subordinated debt | $24.2M | $24.1M | $24.0M | $23.9M |
| Capital lease obligation | $395.0K | $466.0K | $536.0K | $675.0K |
| Other liabilities | $22.0M | $20.5M | $15.2M | $16.5M |
| Total liabilities | $1.1B | $1.0B | $1.1B | $1.0B |
| Common Stock | $9.0M | $9.0M | $9.0M | $8.9M |
| Additional paid-in capital | $77.7M | $77.5M | $77.1M | $76.9M |
| Retained earnings | $68.3M | $63.5M | $58.5M | $50.0M |
| Accumulated other comprehensive loss | ($1.9M) | ($1.5M) | ($1.2M) | ($2.0M) |
| Total shareholders' equity | $153.2M | $148.5M | $143.4M | $133.8M |
| Total liabilities and shareholders' equity | $1.2B | $1.2B | $1.2B | $1.2B |
| Line item | Jun 30, 2018 · FY | Jun 30, 2017 · FY | Jun 30, 2016 · FY | Jun 30, 2015 · FY |
|---|---|---|---|---|
| Net income | $16.2M | $12.3M | $7.6M | $7.1M |
| Provision for loan losses | $1.4M | $1.6M | $1.6M | $717.0K |
| Loss recognized on real estate owned and other repossessed collateral and premises and equipment, net | $123.0K | $23.0K | $243.0K | ($428.0K) |
| Accretion of fair value adjustments | ($8.5M) | ($12.0M) | ($9.3M) | — |
| Amortization of subordinated debt issuance costs | $110.0K | $110.0K | — | — |
| Originations of loans held for sale | ($92.0M) | ($122.9M) | ($130.0M) | ($98.4M) |
| Net proceeds from sales of loans held for sale | $99.1M | $153.9M | $134.5M | $103.2M |
| Gain on sales of residential loans held for sale, net | ($931.0K) | ($1.5M) | ($1.7M) | — |
| Gain on sales of SBA and other loans held for sale, net | ($3.9M) | ($5.6M) | — | — |
| Net (decrease) increase in loan servicing rights | ($124.0K) | — | — | — |
| Amortization of intangible assets | $433.0K | $432.0K | $477.0K | $589.0K |
| Bank-owned life insurance income, net | ($441.0K) | ($454.0K) | ($449.0K) | ($440.0K) |
| Depreciation of premises and equipment | $1.3M | $1.4M | $1.6M | $1.7M |
| Deferred income tax expense (benefit) | $498.0K | ($1.0M) | $2.1M | ($1.2M) |
| Stock-based compensation | $870.0K | $945.0K | $613.0K | $705.0K |
| Amortization of available-for-sale securities, net | $802.0K | $1.1M | $1.0M | $1.0M |
| Other assets | ($1.3M) | ($1.1M) | ($1.0M) | ($60.0K) |
| Other liabilities | $5.8M | $6.7M | $1.9M | $556.0K |
| Net cash provided by operating activities | $19.5M | $34.0M | $5.1M | — |
| Purchases of available-for-sale securities | ($26.2M) | ($19.5M) | ($45.2M) | — |
| Proceeds from maturities and principal payments on available-for-sale securities | $33.7M | $21.2M | $46.5M | $11.4M |
| Loan purchases | ($124.1M) | ($112.8M) | ($100.0M) | ($82.7M) |
| Loan originations, principal collections, and purchased loan paydowns, net | $32.4M | $16.9M | $29.0M | ($24.6M) |
| Purchases and disposals of premises and equipment, net | ($981.0K) | ($695.0K) | ($1.2M) | ($1.2M) |
| Proceeds from sales of real estate owned and other repossessed collateral | $1.3M | $759.0K | $1.5M | $2.6M |
| Redemption of Federal Home Loan Bank stock | $286.0K | $470.0K | $1.7M | — |
| Net cash used in investing activities | ($83.6M) | ($93.7M) | ($67.6M) | ($70.9M) |
| Net increase in deposits | $65.1M | $89.4M | $125.7M | $100.6M |
| Dividends paid on common stock | ($355.0K) | ($357.0K) | ($380.0K) | ($402.0K) |
| Repayment of FHLBB borrowings and wholesale repurchase agreements | ($5.0M) | ($10.0M) | ($10.0M) | — |
| Repayment of capital lease obligation | ($268.0K) | ($255.0K) | ($240.0K) | ($190.0K) |
| Repurchases for tax withholdings on restricted common stock | ($109.0K) | — | — | — |
| Stock options exercised, net | ($1.1M) | — | — | — |
| Net cash provided by financing activities | $58.3M | $71.8M | $123.9M | $80.2M |
| Net (decrease) increase in cash and cash equivalents | ($5.9M) | $12.1M | $61.3M | — |
| Cash and cash equivalents, beginning of year | $163.3M | $151.2M | $89.8M | $82.3M |
| Cash and cash equivalents, end of year | $157.4M | $163.3M | $151.2M | $89.8M |
| Interest paid | $12.2M | $9.5M | $7.8M | $7.5M |
| Income taxes paid, net | $5.3M | $7.7M | $2.2M | $5.7M |
| Transfers from loans to real estate owned and other repossessed collateral, net | $2.8M | $3.0M | $1.8M | $1.8M |
| Line item | Mar 31, 2019 · YTD | Dec 31, 2018 · YTD | Sep 30, 2018 · Q1 | Mar 31, 2018 · YTD |
|---|---|---|---|---|
| Net income | $14.5M | $9.7M | $4.5M | $11.8M |
| Provision for loan losses | $1.0M | $633.0K | $532.0K | $1.2M |
| Loss (gain) on sale and impairment of real estate owned and other repossessed collateral, net | $64.0K | $64.0K | $40.0K | ($45.0K) |
| Net unrealized gain on equity securities | ($75.0K) | ($10.0K) | $40.0K | $30.0K |
| Discount accretion and fair value adjustments on loans, net | ($6.0M) | ($3.7M) | — | — |
| Amortization of fair value adjustments on borrowings, net | $176.0K | $115.0K | — | — |
| Amortization of subordinated debt issuance costs | $83.0K | $55.0K | $28.0K | $83.0K |
| Originations of loans held for sale | ($58.0M) | ($44.2M) | ($25.3M) | ($68.6M) |
| Net proceeds from sales of loans held for sale | $67.4M | $48.2M | $26.5M | $75.1M |
| Gain on sales of residential loans held for sale | ($387.0K) | ($279.0K) | ($174.0K) | ($772.0K) |
| Gain on sales of SBA and other loans held for sale | ($2.9M) | ($1.8M) | ($851.0K) | ($2.5M) |
| Net decrease (increase) in servicing rights | $27.0K | $36.0K | ($40.0K) | ($152.0K) |
| Amortization of intangible assets | $325.0K | $218.0K | $109.0K | $325.0K |
| Bank-owned life insurance income, net | ($328.0K) | ($219.0K) | ($110.0K) | ($331.0K) |
| Depreciation of premises and equipment | $992.0K | $662.0K | $333.0K | $969.0K |
| Stock-based compensation | $997.0K | $687.0K | $299.0K | $635.0K |
| Amortization of available-for-sale debt securities, net | $274.0K | $197.0K | $109.0K | $637.0K |
| Other assets | ($269.0K) | $391.0K | $496.0K | ($1.9M) |
| Other liabilities | ($4.2M) | ($4.9M) | ($9.1M) | ($2.8M) |
| Net cash provided by operating activities | $13.6M | $5.8M | ($4.0M) | $7.6M |
| Purchases of available-for-sale debt securities | ($28.0M) | ($22.0M) | ($16.0M) | ($15.2M) |
| Proceeds from maturities and principal payments on investment securities, net | $32.6M | $25.2M | $17.7M | $20.9M |
| Loan purchases | ($88.7M) | ($84.1M) | ($34.8M) | ($71.5M) |
| Loan originations, principal collections, and purchased loan paydowns, net | $4.0M | $24.6M | $24.5M | $36.4M |
| Purchases and disposals of premises and equipment, net | ($187.0K) | ($183.0K) | ($56.0K) | ($824.0K) |
| Redemption of Federal Home Loan Bank stock | $394.0K | — | — | $180.0K |
| Proceeds from sales of real estate owned and other repossessed collateral | $756.0K | $756.0K | $694.0K | $1.3M |
| Net cash used in investing activities | ($79.2M) | ($55.7M) | ($7.9M) | ($28.7M) |
| Net increase in deposits | $61.7M | $30.7M | $60.6M | $86.4M |
| Dividends paid on common stock | ($269.0K) | ($180.0K) | ($89.0K) | ($266.0K) |
| Repayment of capital lease obligation | ($210.0K) | ($139.0K) | ($69.0K) | ($198.0K) |
| Repurchases for tax withholdings on restricted common stock | ($138.0K) | ($134.0K) | ($132.0K) | ($98.0K) |
| Stock options exercised, net | ($40.0K) | ($4.0K) | — | ($973.0K) |
| Net cash provided by financing activities | $61.0M | $30.2M | $60.3M | $79.9M |
| Net decrease in cash and cash equivalents | ($4.5M) | ($19.8M) | $48.3M | $58.8M |
| Cash and cash equivalents, beginning of period | $157.4M | $157.4M | $157.4M | $163.3M |
| Cash and cash equivalents, end of period | $152.9M | $137.6M | $205.7M | $222.1M |
| Transfers from loans to real estate owned and other repossessed collateral, net | $601.0K | $50.0K | $50.0K | $1.3M |
Northeast Bank score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.