Northeast Bank jumps after loan portfolio purchase

Northeast Bank

18/12/2025 19:36

** Community bank Northeast Bank's NBN.O shares jump 10.5% to $111.30

** NBN late Wednesday unveiled purchase of commercial real estate (CRE) loans with unpaid principal balance of roughly $525 million

** Transaction is expected to close late in the current quarter and have minimal impact on Q2 2026 earnings

** "This quarter's loan purchases rank as our third-highest volume since we started purchasing loans. This is a testament to our ability to capitalize on opportunities of all sizes in this robust secondary loan market" - CEO Rick Wayne

** NBN had scooped up CRE loans last year as well from secondary loan market

** One of two brokerages rates the stock "buy" and one "hold"; median PT $117.50 - data compiled by LSEG

** As of last close, NBN stock was up 9.8% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))