What is Northeast Bank Financial Strength?
Northeast Bank has the Financial Strength Rank of 3. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.
Warning Sign:
Northeast Bank displays poor financial strength. Usually, this is caused by too much debt for the company.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its
Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3.
Altman Z-Score.
GuruFocus does not calculate Northeast Bank's interest coverage with the available data.
Northeast Bank's debt to revenue ratio for the quarter that ended in Dec. 2023 was 3.12.
Altman Z-Score does not apply to banks and insurance companies.
Northeast Bank Financial Strength Calculation
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
Northeast Bank's Interest Expense for the
months ended in Dec. 2023 was $-27.1 Mil. Its Operating Income for the
months ended in Dec. 2023 was $0.0 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $378.4 Mil.
Northeast Bank's Interest Coverage for the quarter that ended in Dec. 2023 is
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
Northeast Bank's Debt to Revenue Ratio for the quarter that ended in Dec. 2023 is
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
Altman Z-Score does not apply to banks and insurance companies.
* 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.
Northeast Bank (Northeast Bank) Business Description
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 |
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