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Northeast Bank (Northeast Bank) Effective Interest Rate on Debt % : 21.39% (As of Dec. 2023)


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What is Northeast Bank Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Northeast Bank's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $108.5 Mil. Northeast Bank's average total debt for the quarter that ended in Dec. 2023 was $507.3 Mil. Therefore, Northeast Bank's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 21.39%.


Northeast Bank Effective Interest Rate on Debt % Historical Data

The historical data trend for Northeast Bank's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Northeast Bank Effective Interest Rate on Debt % Chart

Northeast Bank Annual Data
Trend Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 55.97 48.55 26.60 18.40 19.33

Northeast Bank Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 19.91 24.47 18.99 18.09 21.39

Competitive Comparison of Northeast Bank's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, Northeast Bank's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Northeast Bank's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Northeast Bank's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Northeast Bank's Effective Interest Rate on Debt % falls into.



Northeast Bank Effective Interest Rate on Debt % Calculation

Northeast Bank's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Jun. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Jun. 2022 )+Total Debt  (A: Jun. 2023 ))/ count )
=-1  *  -58.375/( (19.451+584.533)/ 2 )
=-1  *  -58.375/301.992
=19.33 %

where

Total Debt  (A: Jun. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=4.451 + 15
=19.451

Total Debt  (A: Jun. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=273.533 + 311
=584.533

Northeast Bank's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Sep. 2023 )+Total Debt  (Q: Dec. 2023 ))/ count )
=-1  *  -108.528/( (546.193+468.423)/ 2 )
=-1  *  -108.528/507.308
=21.39 %

where

Total Debt  (Q: Sep. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=318.193 + 228
=546.193

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=378.423 + 90
=468.423

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


Northeast Bank  (NAS:NBN) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


Northeast Bank Effective Interest Rate on Debt % Related Terms

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Northeast Bank (Northeast Bank) Business Description

Industry
Traded in Other Exchanges
Address
27 Pearl Street, Portland, ME, USA, 04101
Northeast Bank provides banking and financial services to individual and corporate customers in the US. The firm conducts its loan-related activities through three primary channels: the Community Banking Division, the Loan Acquisition and Servicing Group, and the Small Business Administration Division. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, consumer loans and small business administration loans. The firm also provides telephone banking, online banking, mobile banking, and remote deposit capture services. The revenue of the company is derived primarily from interest and dividends from the bank.
Executives
Richard Wayne director, officer: Chief Executive Officer C/O CAPITAL CROSSING PREFERRED CORP, 101 SUMMER ST, BOSTON MA 02110
Jean-pierre Lapointe officer: CFO / TREASURER C/O NORTHEAST BANCORP, 500 CANAL STREET, LEWISTON ME 04240
Julie Jenkins officer: SVP/Director of Operations C/O NORTHEAST BANCORP, 500 CANAL STREET, LEWISTON ME 04240
David Allen Tanner director C/O ARLON GROUP LLC, 277 PARK AVE, NEW YORK NY 10172
Patrick D Dignan officer: Executive Vice President C/O NORTHEAST BANCORP, 500 CANAL STREET, LEWISTON ME 04240
Peter Walter Mcclean director C/O PNMAC CAPITAL MANAGEMENT, LLC, 27001 AGOURA ROAD, CALABASAS CA 91301
Magnolia Capital Fund, Lp 10 percent owner 1601 DODGE STREET, SUITE 3300, OMAHA NE 68102
Magnolia Group, Llc 10 percent owner 1601 DODGE STREET, SUITE 3300, OMAHA NE 68102
Adam K Peterson 10 percent owner 1601 DODGE STREET, SUITE 3300, OMAHA NE 68102
Lindsay Wiedemann officer: Corporate Controller C/O NORTHEAST BANCORP, 500 CANAL STREET, LEWISTON ME 04240
Claire S Bean officer: CFO and COO C/O BENJAMIN FRANKLIN BANK, 58 MAIN STREET, P.O. BOX 309, FRANKLIN MA 02038-0309
Brian Pinheiro officer: Chief Risk Officer NORTHEAST BANCORP, 500 CANAL STREET, LEWISTON ME 04240-6594
Brian W. Shaughnessy officer: Chief Financial Officer NORTHEAST BANCORP, 500 CANAL STREET, LEWISTON ME 04240-6594
John C Orestis director NORTHEAST BANK, 500 CANAL STREET, LEWISTON ME 04240
William F. Difulvio officer: Chief Risk Officer NORTHEAST BANCORP, 500 CANAL STREET, LEWISTON ME 04240