Northeast Bank


Overview / Commentary
207-786-3245
500 Canal Street
Lewiston, ME 04240

Northeast Bank is headquartered in Lewiston and is the 9th largest bank in the state of Maine. It is also the 677th largest bank in the nation. It was established in 1872 and as of December of 2019, it had grown to 172 employees at 12 locations. Northeast Bank's money market rates are 4X the national average, and it has a B+ health rating.

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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
B+

Health Grade Components

Overall
FDIC Certificate #19690
Year Established1872
Employees172
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.77%
Return on Equity - YTD12.85%
Annual Interest Income$83.5MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.21B$1.19B
LoansQ4 2019vs Q4 2018$997.7MM$934.6MM
DepositsQ4 2019vs Q4 2018$956.4MM$1.00B
Equity CapitalQ4 2019vs Q4 2018$163.4MM$166.9MM
Loan Loss AllowanceQ4 2019vs Q4 2018$5.4MM$5.3MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$12.9MM$10.6MM
Real Estate OwnedQ4 2019vs Q4 2018$2.5MM$1.5MM
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%--Prime Savings
0.25%--Prime Business Savings
0.10%--Health Savings Account

Northeast Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.65%*$250k*-Personal Growth Money Market
OTHER TIERS: 0.05% Up to $50k | 0.65% $50k - $101k | 1.00% $100k - $200k | 1.30% $200k - $250k
1.65%*$250k*-Business Growth Money Market
OTHER TIERS: 0.05% Up to $50k | 0.65% $50k - $101k | 1.00% $100k - $200k | 1.30% $200k - $250k
1.10%--Value Money Market
1.10%--Business Value Money Market

Northeast Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$50k*-Aspire Checking
OTHER TIERS: 0.05% Up to $10k | 0.15% $10k - $50k
0.10%$100-Business NOW
Locations

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