Lewiston, MAINE (February 25, 2010) – More than 100 community members, officials and residents came out this morning to celebrate the completion of the Birch Hill Senior Housing Project that has created affordable homes on what had been a long-vacant property

Photo from left to right: Jim Delamater, Northeast Bank; Ron Philips, Coastal Enterprises; Margaret Bean, Maine Housing (behind); Lucie Ottati, Birch Hill Resident; Kevin Reilley, Benchmark Construction (behind); Governor John E. Baldacci; Richard Berman, Development Collaborative; Mayor Laurent Gilbert, City of Lewiston.

The event at the corner of Birch and Knox streets in Lewiston featured speakers from the collaborating partners of the project who spoke on the importance of affordable senior housing in Maine, the various challenges that the project faced and the successful collaboration of local and state organizations. Facility tours were given and refreshments were provided by Willie Bean’s.

“Birch Hill is one of those projects that has truly had a positive impact on the community. These economic times are unprecedented, and capital is the difference between a project like Birch Hill coming to fruition or simply being a plan on the shelf. That is why we believe it is imperative for those of us who can, to work together to continue to invest in our future,” said Jim Delamater, President and CEO of Northeast Bank.

“The real story of Birch Hill is in how it got created. It is a story of collaboration and leadership. It involved collaboration of many key partners and it is a story of leadership as each partner had to exert their individual leadership to create the development. Hopefully, we will see more projects like this over the coming year and we are thankful that this development came to fruition for the residents and the community,” said Richard Berman of Developers Collaborative.

Also featured at Thursday’s event was Lucy Ottati, a new resident of the Birch Hill Apartments. She shared her gratitude and excitement about her new home.

“It’s a joy to wake up every day in a place surrounded by activity. To look outside my apartment and see kids getting off the school bus and having people around really makes me feel part of a community, and I’m just honored to be living here.”

Local and state officials were also present, including representatives from Senator Olympia Snowe’s and Congressmen Michael Michaud’s’ offices. Mayor Larry Gilbert of Lewiston spoke about the project being a part of Lewiston’s revitalization and the city’s goals for the future.

“The City of Lewiston continues to seek out and embrace opportunities to grow and develop through worthwhile projects like this one, even amidst the struggles of the current economy. . . We will continue to invest and reach out to our partners to do what needs to be done to meet the needs of our community and our residents.”

Gov. John E. Baldacci attended the event as the keynote speaker. He congratulated the partners of the project on their success and also spoke on the importance of collaborative development in the state.

The Birch Hill Senior Housing project has created 20 units of simple yet elegant affordable elderly rental housing in a new building in downtown Lewiston. The unit mix includes 17 one-bedroom units and 3 two-bedroom units, with 5 units to be fully handicapped accessible. All 20 of these units will be targeted to households aged 55 or older with incomes at or below 60% of Area Median Income (AMI). Wireless broadband access is built in to the facility and a computer is available in the community room for residents. The building also has a laundry room available to residents.

The Birch Hill Senior Housing project started construction a year ago on a 15 year vacant lot in the heart of Lewiston’s downtown. Its completion was made possible through a public-private partnership between the City of Lewiston, Lewiston Housing Authority, Maine State Housing Authority, Coastal Enterprises Inc., Northern New England Housing Investment Fund, Benchmark Construction, Developers Collaborative and Northeast Bank.

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 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.

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Lewiston, MAINE (February 22, 2010) – Northeast Financial, located at Northeast Bank, announces the hiring of two new financial consultants, Matthew Simard* and Michael Robin*, and one new registered customer services specialist, Helen Belisle.  Simard & Robin are Registered Representatives and Investment Adviser Representatives of Commonwealth Financial Network.

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

Portland, MAINE (February 22, 2010) – Due to the expansion of its Mortgage division, Northeast Bank announces the hiring of Scott Blake as a new Mortgage Loan Officer serving the Cumberland County area.

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.

“Scott has been in the business for 18 years and brings a wealth of experience to our team,” Says Marcel Blais, Senior Vice President & COO of Northeast Bank. “His knowledge of the industry and experience with mortgage loans will provide an invaluable resource for our customers and other team members serving the Portland market.”

Blake earned a Bachelor of Science in Broadcasting from Ithaca College in NY and was an active participant in the Maine Housing Authority task forces. He has also won an “Excellence in Operations” Award for his work in the industry. He resides in Windham.

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.

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Poland, MAINE (February 12, 2010) – At the center of what is quickly becoming downtown Poland, Northeast Bank employees and community members came out to celebrate the Grand Opening of its newest branch with a Ribbon Cutting ceremony and the kick-off of a two week Open House.

The new 2,000-square-foot branch, located along Route 26, at Poland Crossing (1399 Maine St.), uses a dialogue strategy, where employees are trained to handle all aspects of banking for their customers therefore making the process more efficient and creating better relationships between employees and staffers. This new branch office has expanded hours of operation and features an “intelligent ATM” that directly scans both cash and check deposits.

“The design purpose of this branch is to help connect our customers with our employees, which is the basis of our business as a community bank,” says Jim Delamater, CEO of Northeast Bank. “As a one-stop shop for financial services, we value interaction with our customers so that we can better understand and meet their financial needs, and this new branch will be a model for increasing that interaction.”

Additionally, this Northeast Bank branch is the first bank in Poland, helping to further support the development of Poland’s downtown center.

“Having a new bank in Poland meets one of the greatest needs of the community and is a milestone in the town’s economic development initiative,” says Chuck Finger, Chair of the Economic Development Committee for Poland. 

The Poland branch will be having daily prize drawings and refreshments for the next two weeks for customers and community members who want to explore the new branch and learn more about Northeast Bank.

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 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. 

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Waterville, MAINE (February 08, 2010)- Northeast Bank announces the hiring of Edward C. Oliver as its new Mortgage Loan Officer serving the Central Maine Market.

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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