Northeast Bank

Northeast Bancorp is a bank holding company incorporated in Maine in 1987. Its main subsidiary is Northeast Bank, a wholly-owned Maine state-chartered bank established in 1872. Following a merger with FHB Formation LLC on December 29, 2010, Northeast Bancorp and Northeast Bank committed to several financial ratios and lending limits with the Federal Reserve. These commitments include maintaining a Tier 1 leverage ratio of at least 10%, a total capital ratio of at least 15%, and limiting purchased loans to 40% of total loans. They also committed to funding 100% of the Company's loans with core deposits, defined as non-maturity deposits and non-brokered insured time deposits. Additionally, they committed to holding commercial real estate loans (excluding owner-occupied commercial real estate loans, as amended on June 28, 2013) to within 300% of total capital. The Company and the Bank are currently in compliance with all these commitments. As of June 30, 2018, Northeast Bancorp had total assets of $1.2 billion, total deposits of $954.9 million, and shareholders' equity of $138.4 million on a consolidated basis.