Jim Delamater, President and CEO of Northeast said, “We are very pleased that 75% of our shareholders approved the transaction. This vote is an important step in ensuring Northeast’s future success, providing even greater opportunities for our customers, employees, shareholders and our region in the years ahead.”

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 has approximately $612 million in assets as of March 31, 2010 and derives its income from a combination of traditional banking services and non-traditional financial products and services including insurance and investments, operating 10 traditional bank branches, 12 insurance offices and three investment centers that serve western, central, mid-coastal and southern Maine, as well as seacoast New Hampshire. Information regarding Northeast Bank Insurance Group, Inc. and Northeast Bank can be found at www.northeastbank.com or by contacting 800-284-5989.

ABOUT FHB FORMATION LLC

FHB Formation LLC, an entity created for this investment, is led by a highly experienced team of executives with a significant track record of growth and success in financial services. Richard Wayne is Chief Executive Officer of FHB. Previously, Mr. Wayne co-founded Capital Crossing Bank in 1988 and served as President and Co-Chief Executive Officer from 1991 until its sale in 2007. Claire S. Bean is FHB’s Chief Financial Officer and Chief Operating Officer. She has a 25-year track record in financial services, most recently as Executive Vice President and Chief Financial Officer of Benjamin Franklin Bancorp until its sale in 2009. Heather P. Campion is FHB’s Chief Administrative Officer. She has over 25 years of experience as a leading executive in the public and private sectors, and was the Group Executive Vice President and Director of Corporate Affairs at Citizens Financial Group from 1998-2007.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements contained in this document include statements concerning the proposed transaction. These statements are not guarantees of future performance, involve certain risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. Therefore, actual outcomes and results may differ materially from what is expressed herein. For example, if Northeast fails to satisfy other conditions to closing, the transaction may not be consummated. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: risks associated with uncertainty as to whether the transaction will be completed, costs and potential litigation associated with the transaction, the failure of either party to meet the closing conditions set forth in the merger agreement, the extent and timing of regulatory approvals and the other risk factors discussed from time to time by Northeast in reports filed with the Securities and Exchange Commission (the “SEC”). We urge you to carefully consider the risks which are described in Northeast’s Annual Report on Form 10-K for the year ended June 30, 2009 and in Northeast’s other SEC filings. Northeast is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

Additional Information about the Transaction

In connection with the proposed merger, 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.

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Contact: Jim Delamater

(207) 786-3245 ext. 3569

Filed By: Northeast Bancorp

Pursuant to Rule 425 under the Securities Act of 1933

Subject Company: Northeast Bancorp

(Commission File No. 1-14588)

Scott Blake, Northeast Bank; Samara Karim, Scholarship winner; Linda Varrell, Mainely Character Board Member and President of Broadreach Public Relations

Samara was selected from more than 250 applicants from across the state to receive this highly competitive scholarship. She participated in a rigorous process that included an application, essay and personal interview. Award recipients are selected based on their leadership, community involvement and most importantly, character.

“Character is about staying strong and overcoming obstacles in order to maintain a high standard of integrity, responsibility for your life and care for the lives of others. Samara has demonstrated her high level of character and we are proud to be a part of making this scholarship possible for her through Mainely Character,” says Scott Blake, a Mortgage Loan Officer at Northeast Bank who presented the award to Miss Karim.

A little more than three years ago, Samara was living with her grandmother in Ghana with 20 some other relatives and friends in a small home. Her grandmother was a guiding force in her life, stressing the importance of an education. After coming to the US, Samara started school as a freshman at Windham High School. Faced with all of the challenges of adapting to a new culture and learning English at the same time, Samara overcame every obstacle and became a top student through hard work, determination, and strength of character.

In the community, Samara became involved in fundraising for Multiple Sclerosis events and began volunteering at Mercy Hospital. Her bright and electric personality has made her a favorite among patients. Samara’s goal is to study Medicine and become a doctor. She will be attending the University of New Hampshire in the fall.

Mainely Character was established in 2000 to provide scholarships to Maine high school seniors who have demonstrated a steadfast commitment to the principles of courage, integrity, responsibility and concern for others. In 2009, the organization awarded $7,500 in scholarships, including this $2,500 scholarship named in memory of Mainely Character’s founder Arnie Bushner, who believed that a student’s character should count equally with academics and athletics.

Mary Lynn Engel, vice president of Mainely Character explained, “We are grateful to our donors and sponsors. They allow us to recognize and showcase Maine students like Samara.”

Mainely Character is accepting new sponsors and donors to continue providing Maine scholarships to Maine students. For more information visit www.mainelycharacter.org.

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 April 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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“Northeast Bank Insurance Group is a major contributor to the company’s revenue stream. With over 53% of our noninterest income coming from insurance, it is a vital component of our strategic plan to continue to diversify our offerings and provide our customers with banking, investment and insurance products to best serve their needs,” said Jim Delamater, President and CEO of Northeast Bancorp.”

“It is important that we continue to focus on our mission of meeting the financial needs of our customers and communities, while bringing the necessary talent and products to the market. I am pleased that we are again being recognized nationally for our efforts, as it demonstrates we have a marriage of products and services that work for our customers, while also contributing to the long-term health of the company.”

The Michael White Prudential Bank Insurance Fee Income Report measures and benchmarks banks’ performance in generating insurance brokerage income, which overall saw an increase for the year despite the economic struggles of the past 12 – 18 months. The findings are based on data from all 7,247 commercial and FDIC-supervised savings banks and 916 top-tier bank holding companies operating at the end of 2009.

About the Michael White Associates (MWA)

MWA is a bank insurance consulting firm headquartered in Radnor, PA and at www.BankInsurance.com. The annual Michael White-Prudential Bank Insurance Fee Income ReportTM and Michael White-ABIA Bank Annuity Fee Income ReportTM provide, respectively, comprehensive analyses of bank insurance brokerage and bank annuity commission income. Additionally, the MWA Fee Income Ratings ReportsTM compare, rank and rate a particular financial institutions’ insurance or other noninterest fee income programs national, regionally, statewide and in its asset-peer group. Copies of MWA reports can be ordered by calling (610) 254-0440 or by visiting www.BankInsurance.com.

About Northeast Bank Insurance Group, Inc.

Northeast Bank Insurance Group, Inc., a wholly owned subsidiary of Northeast Bank, headquartered in Rangeley, Maine, provides comprehensive insurance and financial services with an emphasis on needs-based advice to meet the demands of its consumer and business customers. The full spectrum of insurance services includes property and casualty for personal and business purposes.

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 March 31, 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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When: July 9 and 10, 2010 at 7:30pm

Where: Orion Performing Arts Center

50 Republic Ave, Topsham, Maine

Tickets: $10 at the door or Pay What You Want online*

AudioBody is the fusion of physical comedy, and technology. Armed with a collection of futuristic instruments, brothers Matt and Jason Tardy, take the stage in an attempt to create the ultimate musical performance, only to find themselves at odds with their own unruly musical inventions. Sibling rivalry, technological mishaps and outrageous happenings collide on stage to create a show full of relentless comedy, amazing stunts, up-beat music, and even a few accidental moments of pure visual beauty.

“We have added lots of new performance pieces and comedy this year, and we now tour with our own electronic computerized lighting system,” says Jason Tardy of AudioBody.  “We can control the lights and all our instruments with the push of one button.  This has revolutionized our show and made it possible to accent the performance with amazing lighting effects as well as comedic moments that were not possible before.”

AudioBody Northeast Bank 2010 Tour Schedule:

• July 9 and 10 at the Orion Performing Arts Center in Topsham
• Oct 22 and 23 at the Great Falls Performing Arts Center in Auburn

All shows are at 7:30 p.m.

*The new “Pay What You Want” feature allows fans who purchase tickets online at www.AudioBody.com and name their price from $15 a ticket down to $1. Tickets purchased at the door will be $10 a person (if available), and all seating is general.

About AudioBody

Brothers Matt and Jason Tardy of Buckfield, Maine, are the men who make up AudioBody. With more than 16 years of performing arts experience, they started the group in 2004 and have since released two albums, “Sound Motion and Theater” in 2004, which was the #1 selling album from the largest independent distributor in the country, and “Do Something Difficult” in 2007. AudioBody has performed all over the world, including the Bahamas, the Poconos, the Golden Phoenix Casino in Reno, Nev. and even The White House in Washington, D.C., three times. www.audiobody.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 $612 million in assets as of April 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. Join 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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The range of services that Broadreach will provide under the contract include strategic communications services providing customer, employee, community and investor relations support, as well as, offering traditional and new media services and general marketing support for the company’s ongoing initiatives. Broadreach Public Relations has worked with Northeast Bank since the agency’s founding in December of 2006.

“Over the past few years, Broadreach has responded to our communications needs and helped further our development, with a high level of effectiveness, delivering quality service and efficiency,” said Chris Delamater, Vice President and Marketing Director for Northeast Bank.

“With their knowledge of the business environment, expertise and responsiveness, I count on Broadreach for both advice and for getting things done. As our company continues to grow, I am pleased to know that they will be working for our best interest to deliver value to support the Northeast brand.”

“We value our relationship with Northeast Bank and are honored to have this opportunity to work with such an innovative and forward-thinking company” said Linda Varrell, President of Broadreach Public Relations. “Northeast has a great story to tell and a rich heritage, we are looking forward to our continued relationship.”

About Broadreach Public Relations

Broadreach Public Relations, which is headquartered in Yarmouth, Maine, offers successful companies the talent, vision and creative execution they need to accomplish their goals. Contact Broadreach at 207-846-3826, via e-mail at info@broadreachpr.com, or online at www.broadreachpr.com.

Find Broadreach on Facebook * Follow Broadreach on Twitter * Join Broadreach on LinkedIn

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 April 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.

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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In the midst of Northeast Bank’s recent expansion, the company has exceeded its original plan of creating 10 new positions to handle the increased mortgage volume. So far this year, the bank has hired 14 new mortgage loan officers and continues to add positions within its mortgage division.

“Shannon has years of experience as a renovation specialist and senior loan officer, which will make him a valuable asset to our mortgage team and our customers in this economic climate,” says Marcel Blais, Senior Vice President & COO of Northeast Bank.

Odom is also a member of the Greater Bangor Association of Realtors & the Mid-Coast Board of Realtors. He resides in Brewer, ME.

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 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.

Fan 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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Doucette joined Northeast Bank in January 2005 as a Teller, worked his way up to Customer Service Representative, and eventually became the Assistant Manager of the bank’s Lewiston Team.

When the bank announced the opening of its newest branch in Poland, Doucette was selected to be the Assistant Manager. In four months since the opening of the Poland Branch, he has become Branch Manager.

“Sean has incredible skill in delivering a great blend of friendly and professional service and advice to our customers. We are very pleased to announce his promotion,” says Tom Babineau, Director of Retail Banking for Northeast Bank.

Doucette received a Bachelor of Science in Business Management from The University of Maine in Augusta and resides in Lewiston.

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 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.

Fan 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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When: May 14 and 15 at 7:30 p.m.

Where: The Oddfellow Theater in Buckfield (17 Turner St.)

Tickets: $10 at the door or Pay What You Want online*

AudioBody is the fusion of physical comedy, and technology. Armed with a collection of futuristic instruments, brothers Matt and Jason Tardy, take the stage in an attempt to create the ultimate musical performance, only to find themselves at odds with their own unruly musical inventions. Sibling rivalry, technological mishaps and outrageous happenings collide on stage to create a show full of relentless comedy, amazing stunts, up-beat music, and even a few accidental moments of pure visual beauty.

“We have added lots of new performance pieces and comedy this year, and we now tour with our own electronic computerized lighting system,” says Jason Tardy of AudioBody. “We can control the lights and all our instruments with the push of one button. This has revolutionized our show and made it possible to accent the performance with amazing lighting effects as well as comedic moments that were not possible before.”

AudioBody Northeast Bank 2010 Tour Schedule:

• May 14 and 15 at the Oddfellow Theater in Buckfield
• July 9 and 10 at the Orion Performing Arts Center in Topsham
• Oct 22 and 23 at the Great Falls Performing Arts Center in Auburn

All shows are at 7:30 p.m.

*The new “Pay What You Want” feature allows fans who purchase tickets online at www.AudioBody.com and name their price from $15 a ticket down to $1. Tickets purchased at the door will be $10 a person (if available), and all seating is general.

About AudioBody

Brothers Matt and Jason Tardy of Buckfield, Maine, are the men who make up AudioBody. With more than 16 years of performing arts experience, they started the group in 2004 and have since released two albums, “Sound Motion and Theater” in 2004, which was the #1 selling album from the largest independent distributor in the country, and “Do Something Difficult” in 2007. AudioBody has performed all over the world, including the Bahamas, the Poconos, the Golden Phoenix Casino in Reno, Nev. and even The White House in Washington, D.C., three times. www.audiobody.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 $612 million in assets as of December 31, 2009 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. Fan 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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AudioBody is the fusion of physical comedy, and technology. Armed with a collection of futuristic instruments brothers, Matt and Jason Tardy, take the stage in an attempt to create the ultimate musical performance, only to find themselves at odds with their own unruly musical inventions. Sibling rivalry, technological mishaps and outrageous happenings collide on stage to create a show full of relentless comedy, amazing stunts, up-beat music, and even a few accidental moments of pure visual beauty.

“We have added lots of new performance pieces and comedy this year, and we now tour with our own electronic computerized lighting system,” says Jason Tardy of Audiobody.  “We can control the lights and all our instruments with the push of one button.  This has revolutionized our show and made it possible to accent the performance with amazing lighting effects as well as comedic moments that were not possible before.”

AudioBody Northeast Bank 2010 Tour Schedule:

• May 14th and 15th at the Oddfellow Theater in Buckfield
• July 9th and 10th at the Orion Performing Arts Center in Topsham
• Oct 22nd and 23rd at the Great Falls Performing Arts Center in Auburn

All shows are at 7:30 p.m.

Another change to this year’s tour is the new “Pay What You Want” feature that will allow fans who purchase tickets online to name their price from $15 a ticket down to $1. Tickets purchased at the door will be $10 a person, and all seating is general.

“We really want to share our show with as many people as possible and since the show is great for everyone including families, we figured why not make the tickets ‘pay what you want.’  We are hoping to get bigger crowds than ever before and to have people come back and see multiple concerts, since the shows are different every time,” says Jason Tardy.

Signing on again as tour sponsor, Northeast Bank is helping to promote this year’s tour and is thrilled to see AudioBody take stage again.

“The shows last year were amazing and so much fun. We can’t wait to see the new performance pieces they have planned for the show this year, and we’re just excited to be a part of the tour again,” says Chris Delamater, Vice President of Marketing for Northeast Bank.

About AudioBody

Brothers Matt and Jason Tardy of Buckfield, Maine, are the men who make up AudioBody. With more than 16 years of performing arts experience, they started the group in 2004 and have since released two albums, “Sound Motion and Theater” in 2004, which was the #1 selling album from the largest independent distributor in the country, and “Do Something Difficult” in 2007. AudioBody has performed all over the world, including places like Bahamas, the Pocono’s, the Golden Phoenix Casino in Reno, NV and even The White House in Washington DC three times.

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 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. 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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Photo (from left to right): Stacey Curit; Northeast Bank Sales & Marketing, George Greenwood; Board Member for Rebuilding Together L/A and Remax, Broker/Owner, Alina Burke; Board Member for Rebuilding Together L/A and Mortgage Loan Officer for Northeast Bank

In addition to the financial contribution, Northeast Bank employees will also join other volunteers in the actual building of a home this year starting on National Rebuilding Day on May 1.  This is the 5^th year that Northeast Bank has contributed to the Rebuilding Together organization and that employees have volunteered to help build.

“The Lewiston/Auburn area is our home community, and we are dedicated to seeing it grow successfully for businesses and residents,” says Jim Delamater, President and CEO of Northeast Bank. “Rebuilding Together L/A is a wonderful organization, and I’m proud that we can be a part of it both financially and through the dedication of our employees to volunteering and community service.”

National Rebuilding Day occurs every spring and is the culmination of a year of planning, evaluating, training, organizing, fundraising, and assembling the largest nationwide group of volunteers. People help from all walks of life, to repair and restore houses and non-profit facilities, revitalize entire communities and make a lasting impression on those families and individuals who are helped.

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 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. 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

About Rebuilding Together L/A

Rebuilding Together L/A is the Lewiston/Auburn chapter of a national nonprofit, which has a network of nearly 225 affiliates across the United States. Their mission is to preserve affordable housing by bringing volunteers and communities together to rehabilitate the homes of low-income, disabled, elderly and veteran homeowners.

Rebuilding Together believes the disabled and elderly should be allowed to remain in their own homes whenever possible. They believe that homeowners displaced by natural disaster will get back into safe housing with help from the community. They also believe that our nation’s veterans who return with disabilities deserve a helping hand so they may return to their own homes in basic comfort.

National Rebuilding Day is the organization’s annual signature event. This event occurs every April and is the culmination of a year of planning, evaluating, training, organizing, and assembling the largest nationwide group of volunteers, from all walks of life.  Volunteers repair and restore houses and non-profit facilities, revitalize entire communities and make a lasting impression on those families and individuals who are helped.   More information on them can be found at www.rebuildingtogether.org

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