Northeast Bank

Overview / Commentary
27 Pearl St.
Portland, ME 04101

Northeast Bank is headquartered in Portland and is the 8th largest bank in the state of Maine. It is also the 674th largest bank in the nation. It was established in 1872 and as of June of 2022, it had grown to 171 employees at 9 locations. Northeast Bank's money market rates are 9X the national average, and it has a B+ health rating.

Reviews (2)

Worst Bank Ever

Applied for a small business loan.
They didn't bother reading my application.
They advertised to finance hotels and rv parks....dont bother. They don't finance any of that.
They were rude during loan application.
Wasted my time.

Steer clear of this bank

Limelights Hair Color Studio Inc.

Terrible! Avoid At All Costs.

Stay away from Northeast Bank. I was approved for a mortgage. Provided the $500 deposit. When the appraisal was ordered, the appraiser completely missed the fact that the house had a basement, which clearly makes a difference in the value of the home. I wanted (and was owed) a valid appraisal. I requested the appraisal be redone to include the basement, with laundry room and bath. They refused, the customer service was terrible and they would not refund my money. I have never been treated so unprofessionally.

In the end, I switched banks, got a valid appraisal and bought the home, but lost a lot of time and energy in the process thanks to Northeast's ineptitude and all around poor (if not suspect) business practices. I will never work with Northeast Bank and suggest you do the same.


Health Grade Components

FDIC Certificate #19690
Year Established1872
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.72%
Return on Equity - YTD17.05%
Annual Interest Income$46.9MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$1.58B$2.17B
LoansQ2 2022vs Q2 2021$1.30B$1.03B
DepositsQ2 2022vs Q2 2021$1.30B$1.88B
Equity CapitalQ2 2022vs Q2 2021$248.3MM$232.4MM
Loan Loss AllowanceQ2 2022vs Q2 2021$5.0MM$7.3MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$8.9MM$14.7MM
Real Estate OwnedQ2 2022vs Q2 2021$0$1.6MM
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Northeast Bank Savings Account Rates

3.75%--PROPEL Plus Savings
0.10%--Health Savings Account
0.05%--PROPEL Fusion Savings

Northeast Bank Money Market Rates

3.75%*$750k*-Elevate Money Market w/ 50 % New Money
OTHER TIERS: 3.00% Up to $250k | 3.50% $250k - $750k
3.75%*$750k*-Business Elevate Money Market w/ 50 % New Money
OTHER TIERS: 3.00% Up to $250k | 3.50% $250k - $750k
0.40%--Value Money Market

Northeast Bank CD Rates

4.85%$5k-12 Month CD Special -New Money
4.25%$5k-6 Month CD Special- New Money

Northeast Bank Locations
Bethel Branch11 Main StreetBethel, ME 04217
Poland Branch1399 Maine StreetPoland, ME 04274
186 Main Street Branch186 Maine StreetBrunswick, ME 04011
Auburn Branch232 Center StreetAuburn, ME 04210
Oxford Hill Branch235 Main StreetSouth Paris, ME 04281
Augusta Branch235 Western AvenueAugusta, ME 04330
Northeast Bank27 Pearl StPortland, ME 04101
Portland Branch27 Pearl StreetPortland, ME 04101

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