Heidi Jacques, VP and Director of Human Resources, Northeast Bank

Lewiston, MAINE (May 25, 2011) – Northeast Bank announced today the hiring of Heidi Jacques as VP and Director of Human Resources.

Jacques will be based at the company’s Lewiston headquarters and will serve as a member of the senior management team, overseeing all aspects of human resources including talent management, compensation, employee benefits, and training. Jacques will work with hiring managers and the local community to communicate job opportunities and support employee growth.

“Heidi has a proven track record in managing the human resource needs of diverse and growing organizations,” said Jim Delamater, President and CEO of the Northeast Community Banking Division.  “Her deep knowledge of staff recruitment, training, and retention will be a key factor in the effort to expand our employee base in the coming years.” 

Jacques joins Northeast Bank from ING in Lewiston where she was Senior Human Resources Business Partner, overseeing the performance management, new hire orientation, and employee relations efforts for over 1,100 employees.

She began her career in human resource consulting, working with a variety of businesses to fulfill employee hiring, orientation, and training needs.  Jacques was a Senior Human Resources Manager for AGERE Systems (formerly Lucent Technologies/AT&T), where she planned and directed human resource programs for two business units consisting of over 800 employees. 

Jacques has a bachelor’s degree in Business Administration from the University of Southern Maine and has completed master’s coursework in Human Resources Management at Rutgers University. In addition, she has obtained Certifications in Human Resource Management from Rutgers and Cornell University.

Jacques is an active member of the Lewiston/Auburn community, and has held leadership positions with the Central Maine Human Resources Association.  She is also a member of the planning board for the Wellness Council of Androscoggin County.  Jacques resides in Auburn with her husband and daughter.

About Northeast Bank

Northeast Bancorp (NASDAQ: NBN) is the holding company for Northeast Bank, a full service community bank headquartered in Lewiston, Maine. Northeast Bank, together with its wholly owned subsidiary Northeast Bank Insurance Group, Inc., derives its income from a combination of traditional banking services and non-traditional financial products and services, including insurance and investments. The Company has approximately $607 million in assets as of March 31^st, 2011 and operates ten traditional bank branches, ten insurance offices, three investment centers and three loan production offices that serve seven counties in Maine and two in New Hampshire. Information regarding Northeast Bank can be found on its website at www.northeastbank.com or by contacting 1-800-284-5989.

Sarah Ruef-Lindquist, Esq. / Planning For Good owner

March 28, 2011, in Augusta Sarah Ruef-Lindquist will present, “Increasing the Horsepower of Planned Giving:  Engaging Professional Advisors. As a consultant and as an attorney practicing in the area of estate planning, and having served as a trust officer and philanthropic advisor, Ms. Ruef-Lindquist is attuned to the role that advisors play in the gift-planning process. Their knowledge and understanding of an institutions planned giving program can affect their advice to their clients. This three-hour workshop presentation will consider not only who among the professional advisor to strategically engage, but how to engage them effectively to support an organization’s planned giving efforts, and will be attended by non profit executives and board members from across the state. To register, visit www.planningforgood.net or call (207) 975-5165.

PORTLAND, ME – March 15, 2011 – Quantrix has released version 4.0 of its Quantrix Modeler business modeling and analytics (BMA) software solution. Key new features include the ability to publish models to the cloud, dramatic improvement in calculation speed, and the ability for users to write their own scripts to drive models.

Sharing budgets, forecasts, strategic plans, and other models with co-workers, management, and external business partners has become increasingly important for companies as the pace of business accelerates. A new survey of business and finance professionals conducted by Quantrix discovered that, on average, more than 35 people are involved in the financial planning and analysis process and that companies share financial plans with more than 60 individuals.

“Companies need an easy way to share their financial models whether it’s with the office next door or with one on another continent,” says Robert Kugel, Senior Vice President of Ventana Research. “By providing an easy and secure way to publish models to its web reporting portal, ‘Qloud’, Quantrix is eliminating a barrier to greater collaboration. Companies that are frustrated by the limitations of desktop spreadsheets but don’t want to use complex business intelligence tools should look into Quantrix.”

“A lot of time is wasted in the business planning cycle just in getting the right information in front of the right people to make timely decisions,” says Chris Molloy, Vice President of Corporate Development at IDBS, the parent company of Quantrix.  “With this new version of Quantrix, we developed our own online environment called the Quantrix Qloud, where users can publish and share their models quickly, easily, and securely.”

Features of Quantrix Modeler 4.0 enable users to:

• Share Models via Quantrix Qloud – The new version enables users to publish business and financial models to the Quantrix Qloud, a publishing server hosted by Quantrix. Users can invite colleagues or clients to securely view models or they can make models available to the general public. Individuals log in via a web browser, and do not need to install the Quantrix Modeler application to view models.

• Speed Calculation by Up to 85% – Version 4.0 includes a new calculation strategy that can dramatically improve the time it takes for a model to calculate. In addition to the cell-by-cell calculation strategy, Version 4.0 offers a range-based approach. Quantrix logged speed improvements of between 50 and 85 percent during internal testing on models that contained up to 21 million cells.

• Customize Model Actions with Scripting – The new version uses a Java language called Groovy Scripts that enables users to write scripts to drive models. Users can now develop mini-applications, add custom menu items, create canvas buttons, and edit actions and functions.

Quantrix version 4.0 is available for both Windows and Macintosh platforms. Visit the Quantrix web site to view a webinar of the new features and functions of version 4.0, or to view a model published on the Quantrix Qloud.

Quantrix Modeler’s multi-dimensional business modeling and analytics software enables financial professionals to break away from the restrictions of spreadsheet technology and enterprise business intelligence applications to quickly develop financial models of the highest integrity, flexibility, and transparency. Quantrix Modeler is a desktop business modeling and analytics (BMA) software solution that enables financial and business planners to understand the impact of decisions through multi-dimensional modeling, visualizations, and “what if” scenarios.

About Quantrix

Quantrix’s business modeling and analytics (BMA) solutions and services enable companies to develop accurate, secure, and dynamic forecast, budget, planning, risk, and data models. Quantrix Modeler provides unprecedented business intelligence and improved business performance management to customers in 50 countries. It delivers rapid return on investment by empowering business and financial professionals to break away from restrictive two-dimensional spreadsheets and complicated modeling and business intelligence tools. Quantrix Modeler is available directly from the company and from its partners in the United Kingdom, Ireland, China, Australia, New Zealand, Germany, Mexico, Chile, South Africa, the Philippines, Italy, and Brazil. Quantrix is an independent business unit of IDBS, a leading worldwide provider of data management, analytics, and modeling solutions. For more information about Quantrix Modeler, or to activate a free 30-day trial, visit http://www.quantrix.com or call +1 207.775.0808.

Media Contact for Quantrix:

Alison Harris, Harris Media Services

+1 207.829.4500

alison@harrismediaservices.com

Contact at Quantrix:

David Phillips, Marketing Manager, Quantrix

+1 207.775.0808 ext 108

dphillips@quantrix.com

Coupon Evolution Launches New Website with Local Coupons, Daily Deals and National Discounts

New Model in Online Coupon Sites Takes Printable Coupons to the Next Level with Electronic Redemption

Portland, Maine – February 1, 2011 – Coupon Evolution, a comprehensive website for finding coupons and deals, has added new features designed to make their website a one-stop shop for Maine’s coupon searching and deal-seeking masses.

Though printable coupons are the norm in the online coupon industry, Coupon Evolution has revolutionized the redemption process by eliminating the need for printing. Using mobile device technology, site users can email or text copies of coupons to their mobile devices and present them at the business. “How many times have you been out to dinner or gone shopping, only to realize you forgot your coupon at home,” explains owner Jason Dye. “By using any smart phone or internet-ready mobile device you can send them instantaneously. You never have to worry about forgetting something at home again!”

While other online coupon sites only feature deep discounts on a sporadic and time-sensitive basis, Coupon Evolution keeps an up-to-date catalog of ongoing coupon offers from local businesses. Offering deals at restaurants and retail stores like many of their competitors, the site also boasts offerings from automotive shops, hotels and motels, and professional contracting services among their extensive listing.

Additionally, the site offers a weekly deal from one of their advertisers, a special exclusively for Coupon Evolution visitors. Prior deals have included Cole Farms Restaurant in Gray, Mekong Thai and District Restaurant in Portland. Search boxes at bottom offer searches for grocery coupons and national discounts at businesses such as Game Stop and Sports Authority.

“Eventually we hope to integrate all the deals offered in the area into the website so that you do not miss out on anything” states Dye. By signing up for the weekly “Hot Deals” email newsletter, users are notified of new coupons and deals that they might not have noticed otherwise.

Coupon Evolution is a Maine-based company, dedicated to helping local businesses reach new and existing customers through the buying power of the community. Sharing through email, Facebook and Twitter allows users to take an active role in the Buy Local movement by promoting their favorites businesses to their own networks.

What good is getting a great deal if you can’t share the love?

About Coupon Evolution

Coupon Evolution is a Westbrook-based company created in July of 2010. Created to be a comprehensive online resource, Coupon Evolution offers local coupons, daily deals, national discounts and the ability to share their finds via social networking. To sign-up for deals or learn more about Coupon Evolution’s background, visit: http://couponevolution.com

To learn more about Coupon Evolution’s unique online coupon model, visit: http://couponevolution.com/howitworks.html

To learn about how to advertise and become a featured business on Coupon Evolution, visit: http://couponevolution.com/signup.html

For press kit or more information on Coupon Evolution please contact Elisa Doucette by phone or email.

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Contact Information:
Elisa Doucette
Freelance Writer & Consultant

Phone: (207) 233-7805
Email: elisa.doucette@gmail.com

Strong growth in noninterest income, specifically in gain on loan sales and investment fee income, coupled with steady growth in lower cost core deposits, contributed to the overall growth of net income available to common stockholders to $0.38 per diluted share for the first quarter of fiscal 2011, compared to $0.19 per diluted share during the first quarter of fiscal 2010. “I am very pleased with the strong earnings for this first quarter. Our investment in the mortgage loan origination line of business is resulting in record origination and sales volumes,” said Jim Delamater, President and Chief Executive Officer of Northeast Bancorp. “We are also starting to see a return to pre-recession levels of commission income from our investment division and more success in attracting core deposits.” Residential mortgage refinances, which are subject to continuing low interest rates, accounted for the high volume of loan sales and the related gains on sale during the quarter ended September 30, 2010.

Excluding amortization of customer lists and intangible expenses, net income available to common stockholders per diluted share was $0.43 for the quarter ended September 30, 2010. See footnote at the end of this release under the heading “Supplemental Reporting of Non-GAAP-Based Financial Measures.”

Net interest margin decreased slightly to 2.96% during the first quarter of fiscal 2011, compared to 3.01% during the same quarter in the previous fiscal year.

Noninterest income for Northeast Bancorp included $948,263 from the sale of loans during the first quarter of fiscal 2011, versus $210,021 during the same three-month period in fiscal 2010. Income from investment brokerage services rose 21%, while insurance agency income fell slightly by 9% during the three-month period compared to the first quarter of fiscal 2010. Excluding the commission revenue of the Rangeley and Mexico offices sold last year, the insurance commission revenue decreased 4% reflecting the competition for commercial property and casualty policies.

“We continue to see over 41% of revenues generated from noninterest sources. It speaks to the focus and success of our plan to fully diversify our company. We are finding that customers today are looking for that full service, one-stop provider for their financial services as they rethink their spending, saving and budgeting,” continued Delamater.

In addition to announcing increased earnings, Northeast Bancorp is pleased to announce that it declared a quarterly dividend of $0.09 per share, payable on November 19, 2010 to shareholders of record as of October 29, 2010.

Total assets as of September 30, 2010 were $628 million, an increase of approximately 4%, or $24 million, compared to total assets of $604 million as of September 30, 2009. The Company’s capital ratios were 8.20% (tier 1 leverage) and 14.08% (total risk-based capital) at September 30, 2010. The allowance for loan losses grew slightly to 1.55% of total loans at September 30, 2010 compared to 1.48% as of September 30, 2009.

“We remain pleased with our continued growth and overall performance. With our pending merger transaction, Northeast is positioned to create even greater value in the future for customers, shareholders, employees and the community. Our future is bright as we continue to stay focused on proven values and principles of community banking for the long-term sustainability of our company,” said Delamater.

Capital Investment — FHB Formation LLC (“FHB”)

On March 31, 2010, Northeast Bancorp announced that its Board of Directors unanimously agreed to sell $16.2 million of newly-issued common shares to several independent accredited investors (the “Investors”), through FHB Formation LLC (“FHB”), an entity created for the investment, pursuant to an Agreement and Plan of Merger between FHB and Northeast (the “Agreement”). In addition to their purchase of newly-issued common shares, under the terms of the Agreement, the Investors will also purchase approximately 40% of Northeast’s outstanding common shares from existing shareholders for approximately $12.9 million. The purchase of the new shares from Northeast and the purchase of Northeast shares from existing shareholders will be at a price equal to $13.93 per share (the “Investment”). Immediately following the closing of the Investment, the existing Northeast shareholders will collectively own approximately 40% of the outstanding shares of Northeast, and the Investors will collectively own approximately 60% of the outstanding shares of Northeast.

On July 27, 2010, Northeast Bancorp announced that the shareholders of Northeast approved the Agreement. Completion of the merger is subject to customary closing conditions, as well as the approval of various regulatory agencies.

In connection with the proposed transaction, Northeast has filed with the SEC a registration statement on Form S-4 containing a proxy statement/prospectus dated June 14, 2010, which has been mailed to Northeast shareholders. Investors and shareholders of Northeast are urged to read the proxy statement/prospectus filed with the SEC because it contains important information about Northeast and the proposed transaction. The proxy statement/prospectus and any other documents filed by Northeast with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by Northeast by contacting Northeast at www.northeastbank.com.

This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities.

About Northeast Bancorp

Northeast Bancorp (NASDAQ: NBN) is the holding company for Northeast Bank, a leader in delivering one-stop shopping for financial services. Headquartered in Lewiston, Maine, Northeast Bank, together with its wholly owned subsidiary Northeast Bank Insurance Group, Inc., derives its income from a combination of traditional banking services and non-traditional financial products and services, including insurance and investments. Northeast Bank operates ten traditional bank branches, twelve insurance offices, three investment centers and a loan production office that serve seven counties in Maine and two in New Hampshire. Information regarding Northeast Bank can be found on its website at www.northeastbank.com or by contacting 1-800-284-5989.

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This communication contains certain “forward-looking statements”. Although Northeast believes that these forward-looking statements are based on reasonable estimates and assumptions, they are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors. These statements speak only as of the date of this release and we do not undertake any obligation to update or revise any of these forward-looking statements to reflect events or circumstances occurring after the date of this communication or to reflect the occurrence of unanticipated events. For a more complete discussion of certain risks and uncertainties affecting Northeast, please see “Item 1. Business-Forward-Looking Statements and Risk Factors” set forth in the Company’s Form 10-K for the year ended June 30, 2010.

IMPORTANT NOTE: Securities and Advisory Services offered through Commonwealth Financial Network, Member FINRA, SIPC, and a Registered Investment Advisor. Securities are not FDIC insured, not bank obligations or otherwise bank guaranteed and may lose value. Northeast Financial is located at 202 Rte. 1, Suite 206, Falmouth, ME 04105

Supplemental Reporting of Non-GAAP-based Financial Measures

This press release contains certain financial information determined by methods other than in accordance with generally accepted accounting principles (GAAP). Northeast’s management uses these non-GAAP measures in its analysis of the Company’s performance. The presentation of these non-GAAP financial measures is intended to supplement investors’ understanding of Northeast’s core business activities. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures which may be presented by other companies.

Earnings per share excluding amortization of customer list and intangibles is a non-GAAP-based financial measure calculated using non-GAAP-based amounts. The most directly comparable measure is earnings per share which is calculated using GAAP-based amounts. We calculate earnings per share excluding amortization of customer list and other intangibles by excluding the amortization expense for the amortization of customer list and other intangibles recorded in connection with the acquisitions of insurance agencies from our calculation of earnings per share. Management uses earnings per share excluding amortization of customer list and intangibles in order to review our core operating results. Management believes that this is a better measure of our performance.

For Full Financials:http://www.businesswire.com/news/home/20101018006783/en/Northeast-Bancorp-Reports-Strong-Quarter-Results-Increase

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Contact: 

Jim Delamater, President & CEO

Northeast Bank, 500 Canal Street,

Lewiston, ME 04240

www.northeastbank.com

1-800-284-5989 ext. 3569

jdelamater@northeastbank.com

“The Lights, Camera, Save! contest will allow teens to role play and record their thoughts regarding the value of saving money,” explained Chris Delamater, Director of Northeast Bank’s Marketing. It’s a way to get kids thinking about saving and its impact.”

The video contest is one of several components of the ABA Education Foundation’s Teach Children to Save program. This component is a unique competition that encourages youth to use video to communicate the value of saving and inspire others to become lifelong savers.

“The contest is meant to be fun and exciting but when all is said and done, we hope teens will take action and live the message, “Start young, save more.” Delamater added.

To participate, students aged 13-16 can stop by any Northeast Bank location or go online to pick up for an entry form and contest details. Northeast Bank will host the first round of local level judging and will submit one winning video to compete on the national level for a chance at a $3,000, $1,500 and $500 in U.S. Savings Bonds and an iPod® Touch. In addition to submitting a video for national competition, Northeast will be awarding local prizes for 1st, 2nd, and 3rd place.

To learn more about the Lights, Camera, Save! contest, including important deadlines and official rules, visit www.northeastbank.com/lcs or contact Contest Coordinator Brian Robinson at 207.998.3475 or brobinson@northeastbank.com.

About Teach Children to Save

The Teach Children to Save program is a national campaign that organizes banker volunteers to educate young people about the importance of developing a lifelong savings habit. Since 1997, the campaign has reached 3.4 million young people with the help of some 80,000 banker volunteers, an annual awareness day ?? Teach Children to Save Day ?? and the Teach Children to Save Web site: www.teachchildrentosave.com.

About Northeast Bank

Northeast Bank, a leader in delivering one-stop shopping for financial services, is headquartered in Lewiston, Maine and is a wholly-owned subsidiary of Northeast Bancorp (NASDAQ: NBN). The Company has approximately $622 million in assets as of June 30, 2010 and operates 23 retail outlets, including 10 bank branches, 12 insurance offices and 3 financial centers serving the financial needs of western, central, mid-coastal and southern Maine, as well as seacoast New Hampshire. Information regarding Northeast Bank can be found on its website at www.northeastbank.com or by contacting 1-800-284-5989.

Find NEB on Facebook * Join the NEB group on LinkedIn * Follow NEB on Twitter: @northeast_bank * Check out the NEB YouTube Channel

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Planned gifts – typically absorbed into endowment funds – generally involve more complicated gift arrangements than current gifts of cash or marketable securities. They also typically begin at the 6 figure level, involve gift, estate and/or income tax benefits to their donors, and can increase significantly the financial resources of nonprofit organizations for their long-term operation.

In this course, we will review and explore:

* organizational prerequisites, including board and staff roles
* underlying policies and procedures
* the industry of planned giving
* wealth transfer and tax implications that incentivize planned gifts
* mechanics of planned gifts
* resources to support planned giving programs (e.g. allied professionals, web-based services)
* the concept of appropriate donor recognition and stewardship

We will also discuss how to identify potential planned giving opportunities.

Sarah Ruef-Lindquist, J.D. is a graduate of the Institute for Civic Leadership and a Certified Trust and Financial Advisor (“CTFA”). She has practiced law, was Vice President for Southern Maine at the Maine Community Foundation and Sr. Administrative Trust officer at Union Trust Company. She is a frequent writer and speaker on the topics of trust and estate planning, charitable gift planning and planned giving.

Wednesday, April 14, and Thursday, April 15, 9 a.m.-4 p.m.
call USM Cont Ed. 1-800-787-0468  or go to USM Cont Ed web site here
$285 (12 contact hours/ 1.2 CEUs)
Abromson Center, 88 Bedford Street, USM Portland campus

Sarah Ruef-Lindquist can be reached at her web-site, Planning for Good here

Simard, Belisle and Robin have joined Northeast Bank as a team of financial specialists who will help clients pursue their financial goals through creating and implementing a comprehensive long term plan.  This is an ongoing process that will be specifically tailored to their clients’ needs and risk tolerance.

“In the current economy, people are looking to experienced professionals for help, so we are excited to bring on Matt, Helen, and Mike to our team of experts who provide our customers with the financial information they need,” says Jim Delamater, President and CEO of Northeast Bank.

Simard has as Bachelor of Administration in Economics from Colby College in Waterville. He also sits on the Board of Advocates for Children and lives in Auburn.

Robin also has a Bachelor of Administration in Economics, with a focus in Financial Markets, from University of Maine in Orono. He volunteers at the Animal Refuge League in Westbrook and resides in Gray.

Belisle attended school at Mid Maine State College in 1994 and is an active volunteer with United Way and various elder services in her community. She lives in Greene.

*Securities and advisory services offered through Commonwealth Financial Network, Member FINRA / SIPC, a Registered Investment Adviser. Investment and Insurance products are: not insured by the FDIC; not a deposit or other obligation of, or guaranteed by, the financial institution; and subject to investment risks, including possible loss of the principal amount invested.

About Northeast Bank

Northeast Bank, a leader in delivering one-stop shopping for financial services, is headquartered in Lewiston, Maine and is a wholly-owned subsidiary of Northeast Bancorp (NASDAQ: NBN). The Company has approximately $612 million in assets as of December 31, 2009 and derives its income from a combination of traditional banking services and non-traditional financial products and services including insurance and investments; operating eleven traditional bank branches, fourteen insurance offices and three investment centers that serve seven counties in Maine and two in New Hampshire. Information regarding Northeast Bank Insurance Group, Inc. and Northeast Bank can be found on its website at www.northeastbank.com or by contacting 1-800-284-5989.

Photo from Left to Right:  Mike Robin, Helen Belisle, and Matthew Simard

Northeast Bank announced earlier this month that it has created 10 new positions to handle the increase in demand for mortgages, due in part to the expansion and extension of the Home Buyer Tax Credit program signed into effect recently for people buying homes from December 31, 2009 to June of 2010.

“Ed has over 30 years experience in financial services and has always been an active member of his community which makes him a valuable addition to our company’s team,” says Marcel Blais, Senior Vice President & COO of Northeast Bank. “We’re thrilled to have him on board to expand our mortgage division and serve our customers in the area.”

Oliver has a Bachelor of Science degree in Marketing from Husson College and is active in the Kennebec Valley Board of Realtors, the Mid Maine Chamber of Commerce, and the Waterville Rotary Club. Ed also has been a member of the Sidney Volunteer Fire Department since 1994 and was elected Fire Fighter of the Year by the Sidney Fire Department in 2000. He resides in Sidney with his wife and four daughters.

About Northeast Bank

Northeast Bank, a leader in delivering one-stop shopping for financial services, is headquartered in Lewiston, Maine and is a wholly-owned subsidiary of Northeast Bancorp (NASDAQ:  NBN). The Company has approximately $604 million in assets as of September 30, 2009 and operates 26 retail outlets, including 11 bank branches, 15 insurance offices and 3 financial centers serving the financial needs of western, central, mid-coastal and southern Maine, as well as seacoast New Hampshire. Information regarding Northeast Bank can be found on its website at www.northeastbank.com or by contacting 1-800-284-5989.

Fan NEB on Facebook ³ Join the NEB group on LinkedIn ³ Follow NEB on Twitter: @northeast_bank ³ Check out the NEB YouTube Channel

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