Added to YB: 2025-03-12
Pitch date: 2025-03-10
NBN [bullish]
Northeast Bank
+9.45%
current return
Author Info
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Company Info
Northeast Bank provides various banking services to individual and corporate customers in Maine. The company’s deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and checking accounts.
Market Cap
$730.9M
Pitch Price
$90.67
Price Target
N/A
Dividend
0.05%
EV/EBITDA
N/A
P/E
8.03
EV/Sales
N/A
Sector
Banks
Category
growth
Show full summary:
Northeast Bank, or is it a Credit Fund?
NBN: Credit fund disguised as bank. 17% ROE, 4.9% NIM, 42% efficiency ratio. Buys discounted loans, partners with Newity for SBA loans. Strong underwriting (0.8% NPAs). 37% 5yr EPS CAGR. Risks: Key-man, CRE exposure. Trading at 2.1x book, fair given growth.
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