Northeast Bancorp reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2013. The company reported net interest and dividend income after provision for loan losses of $7,907,000, income from continuing operations before income tax expense of $2,477,000 and net income available to common stock holders of $1,666,000 or $0.16 per diluted share against net interest and dividend income after provision for loan losses of $4,654,000, income from continuing operations before income tax expense of $169,000 and net income available to common stock holders of $70,000 or $0.02 per diluted share a year ago. Return on average equity was 5.85% against 1.03% a year ago. Book value per share was $11.08 against $17.29 a year ago. Return on average assets was 0.97% against 0.11% a year ago. Total interest and dividend income was $9,920,000 against $6,352,000 a year ago. Net income from continuing operations was $1,666,000 against $154,000 a year ago. Tangible book value per share (non-GAAP) was $10.72 against $15.94 a year ago. For the nine months, the company reported net interest and dividend income after provision for loan losses of $20,587,000, profit from operations before income tax expense of $6,215,000, net income available to common stock holders of $3,860,000 or $0.37 per diluted share against net interest and dividend income after provision for loan losses of $13,314,000, loss from operations before income tax expense of $231,000, net income available to common stock holders of $821,000 or $0.23 per diluted share a year ago. Total interest and dividend income was $26,421,000 against $18,659,000 a year ago. Net income from continuing operations was $4,215,000 against loss of $22,000 a year ago. The board of directors has declared a cash dividend of $0.09 per share, payable on May 24, 2013 to shareholders of record as of May 10, 2013.

Northeast Bancorp announced that they will report Q3, 2013 results at 5:00 PM, Eastern Standard Time on Apr 29, 2013

Northeast Bancorp, Q3 2013 Earnings Call, Apr 30, 2013