Northeast Bank Q3 net income surges on record loan growth

Northeast Bank

27/04/2026 21:25

Overview

US regional lender's fiscal Q3 net income rose 60% yr/yr to $29.9 mln

Diluted EPS for fiscal Q3 increased to $3.53 from $2.23 yr/yr

Record loan origination volume and asset growth drove quarterly results

Outlook

Company did not provide specific guidance or outlook for future quarters or full yr in press release

Result Drivers

LOAN GROWTH - Net income increase was primarily driven by higher interest income from larger average balances in National Lending and Small Business portfolios

CREDIT LOSS PROVISION - Lower provision for credit losses contributed to higher net income

NONINTEREST INCOME DECLINE - Lower gains on sale of SBA loans reduced noninterest income

Company press release: ID:nGNX1QNhfz

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$3.53
Q3 Net Income
$29.9 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for Northeast Bank is $126.50, about 5.6% above its April 24 closing price of $119.77

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)