Northeast Bancorp (NBN) owns Northeast Bank, which is a community bank headquartered in Maine. The bank has two income sources: traditional banking services and loan acquisition and servicing. Apart from the 10 bank branches (in Maine, New Hampshire and Massachusetts) and 5 loan production offices, the company also operates an online savings division called ableBanking. Even though the bank's share price is 50% lower than what it was in 2008, its market cap is 4 times higher what it was in 2008. Currently the company enjoys a market value of $101 million.
Last year, the company offered 6.8 million new shares in addition to its existing 3.5 million shares at...
Only subscribers can access this article, which is part of the PRO research library covering 3,773 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: