Northeast Bank

Overview / Commentary
27 Pearl St.
Portland, ME 04101

Northeast Bank is headquartered in Portland and is the 5th largest bank in the state of Maine. It is also the 493rd largest bank in the nation. It was established in 1872 and as of June of 2021, it had grown to 168 employees at 11 locations. Northeast Bank's money market rates are 14% higher than the national average, and it has an A 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 - YTD6.5%
Return on Equity - YTD52.79%
Annual Interest Income$41.3MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$2.17B$1.26B
LoansQ2 2021vs Q2 2020$1.03B$991.9MM
DepositsQ2 2021vs Q2 2020$1.88B$1.03B
Equity CapitalQ2 2021vs Q2 2020$232.4MM$164.7MM
Loan Loss AllowanceQ2 2021vs Q2 2020$7.3MM$9.2MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$14.7MM$14.4MM
Real Estate OwnedQ2 2021vs Q2 2020$1.6MM$3.3MM
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Always verify rates and promotions with the bank or credit union. We are not Northeast Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Northeast Bank Savings Account Rates

0.75%--PROPEL Savings
0.15%--Prime Savings
0.15%--Prime Business Savings
0.10%--Health Savings Account

Northeast Bank Money Market Rates

0.50%*$250k*-Personal Growth Money Market
OTHER TIERS: 0.05% Up to $50k | 0.20% $50k - $101k | 0.30% $100k - $200k | 0.40% $200k - $250k
0.50%*$250k*-Business Growth Money Market
OTHER TIERS: 0.05% Up to $50k | 0.20% $50k - $101k | 0.30% $100k - $200k | 0.40% $200k - $250k
0.40%--Value Money Market
0.40%--Business Value Money Market

Northeast Bank Checking Account Rates

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

Cities: Auburn, Augusta, Bethel, Brunswick, Buckfield, Harrison, Poland, Portland, South Paris

Auburn Branches
Auburn Branch232 Center StreetAuburn, ME 04210

Augusta Branches
Augusta Branch235 Western AvenueAugusta, ME 04330

Bethel Branches
Bethel Branch11 Main StreetBethel, ME 04217

Brunswick Branches
186 Main Street Branch186 Maine StreetBrunswick, ME 04011

Buckfield Branches
Buckfield Branch2 Depot StreetBuckfield, ME 04220

Harrison Branches
Harrison Branch46 Main StreetHarrison, ME 04040

Poland Branches
Poland Branch1399 Maine StreetPoland, ME 04274

Portland Branches
Northeast Bank27 Pearl StPortland, ME 04101
Portland Branch27 Pearl StreetPortland, ME 04101

South Paris Branches
Oxford Hill Branch235 Main StreetSouth Paris, ME 04281

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