“We had another strong quarter, with continued growth in our National Lending Division purchased portfolio,” said Rick Wayne, Chief Executive Officer. “National Lending Division volume totaled $249.6 million, including $186.1 M of purchases and $63.5M of originations. We extended our at-the-market offering, which provides the Bank with the ability to raise capital if and as needed. For the quarter, we are reporting earnings of $1.85 per diluted common share, a return on average equity of 17.4%, and a return on average assets of 1.9%.” As of December 31 total assets were $2.97B an increase of $99M, or 3.5%, from total assets of $2.87 billion as of June 30.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on NBN:
- Northeast Bank Reports Second Quarter Results and Declares Dividend
- Northeast Bank Announces Dates for Fiscal 2024 Second Quarter Earnings Results and Conference Call
- Northeast Bank names Richard Cohen CFO
- Northeast Bank Announces Appointment of Chief Financial Officer
- NBN Earnings this Week: How Will it Perform?
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue