Northeast Bank Mortgage Rates, Fees & Info

Lewiston, ME

LEI: 549300F0LV9TSW34E306

Tax ID: 01-0029040

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Northeast Bank is a smaller bank specializing in Refi loans. Northeast Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Miami, Augusta, and Lewiston among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Northeast Bank has an above average approval rate when compared to the average across all lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    4

    Origination Dollar Volume (All Markets)

    $6,010,000

    Employee count

    168

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $4,655,000 $4,655,000 $0 0.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 0.00%
    Augusta-Waterville, ME (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    Northeast Bank's top markets include New York, Miami, Augusta, and Lewiston among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2 $5,660,000 $2,830,000 $0 0.00%
    USDA 2 $350,000 $175,000 $0 0.00%

    For 2021, Northeast Bank's most frequently originated type of loan was Conventional, with 2 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2 $350,000 $175,000 $0 0.00%
    Other 1 $1,005,000 $1,005,000 $0 0.00%
    Refi 1 $4,655,000 $4,655,000 $0 0.00%

    For 2021, Northeast Bank's most frequently cited loan purpose was Home Purchase, with 2 originations. The 2nd most popular reason was Other, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 4 $6,010,000 $1,502,500 $0 0.00%

    For 2021, Northeast Bank's most frequently cited loan duration was Other, with 4 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 2 $350,000 $175,000 $0 0.00%
    $1MM+ 2 $5,660,000 $2,830,000 $0 0.00%

    2021 saw Northeast Bank place emphasis on $100k-200k loans with 2 originations, totaling $350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 2 $350,000 $175,000 $0 0.00%

    Northeast Bank lent most frequently to those with incomes in the $50k-75k range, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 4 $6,010,000 $1,502,500 $0 0.00%

    Northeast Bank lent most frequently to those with DTI ratios of Exempt%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 2 $5,660,000 $2,830,000 $0 0.00%
    White 2 $350,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Northeast Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 4 $6,010,000 $1,502,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4 $6,010,000 $1,502,500

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    NORTHWEST BANCSHARES INC Conventional home mortgage Struggling to pay mortgage 1 11.1%
    NORTHWEST BANCSHARES INC Conventional home mortgage Trouble during payment process 5 55.6%
    NORTHWEST BANCSHARES INC Home equity loan or line of credit (HELOC) Trouble during payment process 1 11.1%
    NORTHWEST BANCSHARES INC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    NORTHWEST BANCSHARES INC Other type of mortgage Struggling to pay mortgage 1 11.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Northeast Bank 1399 Maine Street Poland, ME 4274 Full Service B&M $43,288
    Northeast Bank 11 Main Street Bethel, ME 4217 Full Service B&M $70,142
    Northeast Bank 186 Maine Street Brunswick, ME 4011 Full Service B&M $89,054
    Northeast Bank 2 Depot Street Buckfield, ME 4220 Full Service B&M $27,767
    Northeast Bank 232 Center Street Auburn, ME 4210 Full Service B&M $1,288,130
    Northeast Bank 235 Main Street South Paris, ME 4281 Full Service B&M $52,991
    Northeast Bank 235 Western Avenue Augusta, ME 4330 Full Service B&M $43,558
    Northeast Bank 27 Pearl St Portland, ME 4101 Full Service B&M $0
    Northeast Bank 27 Pearl Street Portland, ME 4101 Full Service B&M $40,413
    Northeast Bank 27 Pearl Street Portland, ME 4101 Full Service Cyber Office $191,810
    Northeast Bank 46 Main Street Harrison, ME 4040 Full Service B&M $32,388

    For 2021, Northeast Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $82,936
    Net interest income $75,559
    Total noninterest income $74,516
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $180
    Trading account gains and fees $0
    Additional Noninterest Income $74,336
    Pre-tax net operating income $109,576
    Securities gains (or losses, -) $-162
    Income before extraordinary items $76,812
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $76,812
    Minority interest net income $0
    Net income $76,812
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $76,939

    Northeast Bank's gross interest income from loans was $82,936,000.
    Northeast Bank's net interest income from loans was $75,559,000.
    Northeast Bank's fee based income from loans was $180,000.
    Northeast Bank's net income from loans was $76,812,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,377
    Provision for credit losses $-3,432
    Total noninterest expense $43,931
    Salaries and employee benefits $25,075
    Premises and equipment expense $3,604
    Additional noninterest expense $15,252
    Applicable income taxes $32,602
    Net charge-offs $454
    Cash dividends $329

    Northeast Bank's interest expense for loans was $7,377,000.
    Northeast Bank's payroll and benefits expense were $25,075,000.
    Northeast Bank's property, plant and equipment expenses $3,604,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 1.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 1.0%
    Personal loans 2.0%
    Credit card loans 0.0%
    Other individual loans 2.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,185,737
    Deposits held in domestic offices $1,185,737
    Deposits by Individuals, partnerships, and corporations $1,018,837
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $74,366
    Deposits by Commercial banks and other depository institutions in U.S. $92,535
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $433,871
    Demand deposits $172,922
    Nontransaction accounts $751,867
    Money market deposit accounts (MMDAs) $257,593
    Other savings deposits (excluding MMDAs) $317,741
    Total time deposits $176,533
    Total time and savings deposits $1,012,816
    Noninterest-bearing deposits $334,997
    Interest-bearing deposits $850,740
    Retail deposits $1,179,124
    IRAs and Keogh plan accounts $14,834
    Brokered deposits $86,083
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,459,955
    Cash & Balances due from depository institutions $166,208
    Interest-bearing balances $161,462
    Total securities $62,870
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,175,144
    Loan and leases loss allowance $6,040
    Trading account assets $0
    Bank premises and fixed assets $9,955
    Other real estate owned $53
    Goodwill and other intangibles $1,645
    All other assets $44,080

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,459,955
    Total Liabilities $1,220,718
    Total deposits $1,185,737
    Interest-bearing deposits $850,740
    Deposits held in domestic offices $1,185,737
    % insured (estimated) $65
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $20,266
    Subordinated debt $0
    All other liabilities $14,715

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,175,144
    Loan and leases loss allowance $6,040
    Total loans and leases (domestic) $1,181,184
    All real estate loans $890,920
    Real estate loans in domestic offices $890,920
    Construction and development loans $10,244
    Residential 1-4 family construction $22
    Other construction, all land development and other land $10,222
    Loans secured by nonfarm nonresidential properties $676,910
    Nonfarm nonresidential secured by owner-occupied properties $254,604
    Commercial real estate & other non-farm, non-residential $422,306
    Multifamily residential real estate $142,937
    1-4 family residential loans $60,825
    Farmland loans $4
    Loans held in foreign offices $0
    Farm loans $65
    Commercial and industrial loans $25,715
    To non-U.S. addressees $0
    Loans to individuals $861
    Credit card loans $0
    Related Plans $33
    Consumer Auto Loans $0
    Other loans to individuals $828
    All other loans & leases $263,623
    Loans to foreign governments and official institutions $0
    Other loans $263,573
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $66,626
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $21,819
    Non 1-4 family restructured loans & leases $19,697
    Total loans and leases (foreign) $0

    Northeast Bank had $1,175,144,000 of loans outstanding in 2021. $890,920,000 of loans were in real estate loans. $10,244,000 of loans were in development loans. $142,937,000 of loans were in multifamily mortgage loans. $60,825,000 of loans were in 1-4 family mortgage loans. $65,000 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 652 $140,672 $215,755
    Nonfarm, nonresidential loans - <$100k 29 $726 $25,034
    Nonfarm, nonresidential loans - $100-250k 164 $12,551 $76,530
    Nonfarm, nonresidential loans - $250k-1MM 459 $127,395 $277,549
    Commercial & Industrial, US addressed loans - <$1MM 86 $4,722 $54,907
    Commercial & Industrial, US addressed loans - <$100k 46 $671 $14,587
    Commercial & Industrial, US addressed loans - $100-250k 23 $1,522 $66,174
    Commercial & Industrial, US addressed loans - $250k-1MM 17 $2,529 $148,765
    Farmland loans - <$1MM 1 $4 $4,000
    Farmland loans - $100-250k 1 $4 $4,000
    Agriculture operations loans - <$1MM 1 $65 $65,000
    Agriculture operations loans - $100-250k 1 $65 $65,000