Northeast Bank · NASDAQ:NBN
Northeast Bank — Q1 FY2027 Earnings Presentation
32 slides from Northeast Bank's earnings presentation, Oct 27, 2026
Slide 1: Investor Call FY27 Q1
INVESTOR CALL FY27 Q1 October 27, 2026
Slide 2: Forward-Looking Statement
FORWARD-LOOKING STATEMENT Statements in this presentation that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by th
Slide 3: Financial Highlights Q1 FY27
FINANCIAL HIGHLIGHTS Q1 FY27 Total Loan Volume $534.3 million Total Loans, including loans held for sale at September 30, 2026 $4.75 billion Net Increase in Loans, including loans held for sale $162.8 million (3.5%) National Lending: $237.6 million invested on $254.2 million of UPB(1) Purchased Loan
Slide 4: Our Strategy
OUR STRATEGY ——~ Northeast BANK
Slide 5: Northeast Bank national lender and Maine community bank
Northeast Bank is a national commercial real estate and small business lender and Maine community bank with over 150 years of experience. Strong returns 3-Year Avg ROE of 19.1% and ROA of 2.2% 3-Year Tangible Book Value Growth of 58.0% Purchased Originated Small Commercial Commercial Business 3-Year
Slide 6: Earnings That Scale
EARNINGS THAT SCALE EPS (Diluted) ROE 19.7% $14.00 $12.74 20.0% 19.0% 18.6% $12.00 $10.08 17.5% $10.00 $7.58 $8.00 15.0% $6.00 $4.00 $3.42 $2.00 $— 10.0% FY 24 FY 25 FY 26 Q1 FY 27 FY 24 FY 25 FY 26 Q1 FY 27 Tangible Book Value per Share Efficiency Ratio (1) $80.00 50.0% $73.22 $70.58 $70.00 41.8% 4
Slide 7: National Lending Division: The Growth Engine
NATIONAL LENDING DIVISION THE GROWTH ENGINE $2,000 $1,754 $1,754 $1,750 $808 $897 $1,500 $1,250 Millions $1,000 $832 $946 $857 $750 $399 $513 $500 $259 $432 $250 $254 $0 FY 24 FY 25 FY 26 Q1 FY 27 Purchases (UPB) Originations (UPB) 7
Slide 8: Small Business Lending Fee Income
SMALL BUSINESS LENDING FEE INCOME $500 $25.0 $23.2 $408.5 $400 $20.0 $308.8 $300 $15.0 Millions Millions $12.0 $200 $10.0 $152.8 $140.9 $101.7 $92.5 $100 $5.0 $62.2 $3.3 $35.2 $2.7 $23.7 $2.8 $9.7 $0 (1) (1) $— FY 24 FY 25 FY 26 Q1 FY 27 SBA 7(a) Loans Funded SBA 7(a) Loans Sold Insured Small Balanc
Slide 9: Loan Mix
LOAN MIX Community Bank Small Business National Lending Originated (1) National Lending Purchased $5,000 $4,755 $4,592 $4,000 $3,790 $2,789.2 $2,756.6 $3,000 $2,761 Millions $2,375.2 $2,000 $1,708.6 $1,586.5 $1,721.5 $1,000 $1,251.8 $981.5 $48.4 $145.0 $234.8 $22.7 $18.3 $14.1 $230.6 $13.5 $0 6/30/2
Slide 10: Funding Mix
FUNDING MIX $5,000 $4,530 $4,633 $848 $840 $4,000 $3,696 $2,662 $320 $2,519 $2,244 $3,000 $2,685 Millions $345 $1,306 $2,000 $93 $74 $72 $1,000 $155 $880 $917 $869 $732 $147 $159 $180 $182 $— 6/30/2024 6/30/2025 6/30/2026 9/30/2026 Demand Savings and interest checking Money market Time Borrowings 10
Slide 11: Effective Cost Management
EFFECTIVE COST MANAGEMENT $300.0 45.0% 41.8% 42.5% $250.0 $236.5 $212.8 40.0% 37.6% $200.0 38.0% 37.5% 36.8% Millions $154.5 $150.0 35.0% 32.5% $100.0 $89.8 $78.4 $64.6 $64.3 30.0% $50.0 $24.2 27.5% $0.0 25.0% FY 24 FY 25 FY 26 Q1 FY 27 Total Revenue (1) Non interest Expense Efficiency Ratio (1) Tot
Slide 12: Quarterly Results
QUARTERLY RESULTS Northeast est
Slide 13: Net Income by Trailing Quarters
NET INCOME BY TRAILING 5 QUARTERS $40,000 $34,341 $35,000 $29,853 $30,000 $28,990 $25,000 $22,541 Thousands $20,740 $20,000 $15,000 $10,000 $5,000 $0 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 13
Slide 14: Net Interest Income by Trailing Quarters
NET INTEREST INCOME BY TRAILING 5 QUARTERS $120,000 $101,871 $99,785 $99,491 $100,000 $83,207 $84,087 Thousands $80,000 $63,073 $60,316 $58,916 $60,000 $48,192 $48,801 $38,798 $39,469 $40,575 $40,000 $35,015 $35,286 $20,000 $7,566 $4,841 $4,163 $2,669 $2,776 $— Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY2
Slide 15: Loan Performance & Average Loan Balance by Trailing Quarters
LOAN PERFORMANCE & AVERAGE LOAN BALANCE BY TRAILING 5 QUARTERS Loan Performance Average Loan Balance 10.00% $5,000 9.51% $1,801 $1,912 9.00% 8.63% 9.33% $1,648 9.11% $4,000 8.03% $1,474 8.00% 7.72% 7.68% 7.72% 8.21% $1,364 8.19% $3,000 7.00% Millions $2,828 $2,763 $2,706 $2,415 6.00% $2,311 $2,000 5
Slide 16: Loan Portfolio Summary
LOAN PORTFOLIO SUMMARY Loan Portfolio # of Loans Total Balance Average Balance WA LTV (2) Dollars in thousands National Lending Division: Purchased Loans (1) 3,334 $ 2,789,235 $ 836 54% Direct Originated Loans 100 755,754 7,558 55% Lender Finance Loans 110 965,750 8,780 47% Small Business Division (
Slide 17: National Lending Portfolio Roll Forward - Linked Quarter
NATIONAL LENDING PORTFOLIO ROLL FORWARD — LINKED QUARTER $4,750 $242.0 $258.6 $4,510.7 $4,500 $(209.4) $(123.6) $4,343.1 Millions $4,250 $4,000 $3,750 $3,500 Balance at 6/30/26 Originations Originated Run-off Purchases (Initial Purchased Run-Off Balance at (1) Amortized Cost) (1) 9/30/2026 (1) Run-o
Slide 18: Small Business Lending by Trailing Quarters
SMALL BUSINESS LENDING BY TRAILING 5 QUARTERS Loan Originations and Sales $75,000 $70,610 $52,745 Thousands $50,000 $41,979 $39,802 $38,484 $33,032 $33,457 $35,188 $30,015 $25,090 $27,020 $23,658 $25,000 $9,687 $4,477 $2,768 $0 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 SBA 7a Loans Funded SBA 7a Loans
Slide 19: Asset Quality Metrics
ASSET QUALITY METRICS NPAs & NPLs Classified Commercial Loans(1) 1.50% $40.0 $32.1 1.03% 1.00% 0.90% 0.93% $30.0 0.83% $24.0 $22.6 0.67% Millions 0.56% 0.60% $19.6 0.48% $20.0 0.50% $10.0 —% 6/30/2024 6/30/2025 6/30/2026 9/30/2026 $— NPAs/ Assets NPLs/ Loans 6/30/2024 6/30/2025 6/30/2026 9/30/2026 A
Slide 20: Deposit Portfolio Changes
DEPOSIT PORTFOLIO CHANGES By Channels September 30, 2026 June 30, 2026 Net Change Dollars in thousands Balance WAR Mix Balance WAR Mix Balance % WAR Retail Banking Centers $ 1,217,081 3.02 % 32 % $ 1,188,500 3.05 % 32 % $ 28,581 2% (0.03) % Government Banking 531,000 3.69 % 14 % 606,550 3.49 % 16 %
Slide 21: Quarterly Cost of Deposits and Cost of Funds
QUARTERLY COST OF DEPOSITS BY TRAILING 5 QUARTERS 4.00% 3.90% 3.75% 3.62% 3.55% 3.51% 3.49% 3.50% 3.48% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Average Cost of Deposits by Quarter Cost of Deposits at Quarter-end QUARTERLY COST OF FUNDS BY TRAILING 5 QUARTERS(1) 4.00% 3.83% 3.75% 3.69% 3.62% 3.59% 3.
Slide 22: Non-Interest Expense by Trailing Quarters
NON-INTEREST EXPENSE BY TRAILING 5 QUARTERS $25 $24.2 $23.6 $23.5 $9.9 $21.9 $8.8 $9.4 70.0% $9.2 $20.8 $20 $8.3 60.0% Efficiency Ratio $15 Millions $14.8 $14.3 50.0% $14.1 $12.7 $12.5 $10 37.6% 40.0% 41.4% 35.5% 36.0% 40.1% $5 30.0% $0 20.0% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Compensation Expe
Slide 23: Capital Strength
CAPITAL STRENGTH 9/30/2025 12/31/2025 3/31/2026 6/30/2026 9/30/2026 Tier 1 Leverage (1) 12.2% 12.2% 11.4% 11.9% 12.1% Tier 1 Capital (1) 13.9% 12.5% 12.9% 13.5% 13.5% Total Capital (1) 15.1% 13.7% 14.2% 14.7% 14.7% Purchased loans to Total Loans 64.1% 65.7% 63.2% 61.5% 59.9% Total Loans to Deposits
Slide 24: Appendix
APPENDIX ——~ Northeast BANK 94
Slide 25: National Lending Loan Portfolio Statistics
NATIONAL LENDING LOAN PORTFOLIO STATISTICS Investment Size(1) $15+ million $ 0-2 million 26% 20% Collateral State (47 States) $10-15 million $2-6 million All Other 13% 25% 17% IL 2% TX 2% $6-10 million WA 2% 16% FL 4% Collateral Type Mixed Use Industrial NJ 8% 10% NY 45% 10% Multifamily Office 16% 8
Slide 26: National Lending Portfolio by Collateral Type
NATIONAL LENDING PORTFOLIO BY COLLATERAL TYPE Collateral Type Direct Originated Lender Finance Purchased Total National Lending Dollars in thousands Balance WA LTV (1) Balance WA LTV (1) Balance WA LTV (1) Balance WA LTV (1) 1-4 Family $ 33,740 49% $ 111,573 44% $ 66,516 56% $ 211,829 49% Hospitalit
Slide 27: National Lending Portfolio - Weighted Average LTV by Bucket
NATIONAL LENDING PORTFOLIO — WEIGHTED AVERAGE LTV BY BUCKET (1) LTV is calculated as the book balance of the loan, prior to any ACL, divided by the value of the underlying commercial real estate collateral. All data as of September 30, 2026, unless otherwise noted. 27
Slide 28: National Lending Originated Portfolio - Interest Reserve Analysis
NATIONAL LENDING ORIGINATED PORTFOLIO — INTEREST RESERVE ANALYSIS Lender Finance % with Interest Interest Reserve WA Advance Dollars in thousands Balance WA LTV(2) Reserves WA Duration Rate(1) Total Loans $ 965,750 63% 47% Loans with Interest Reserves 657,349 68% 5.01 Months Direct Originated Loans
Slide 29: National Lending Purchased Portfolio - Further Analysis
NATIONAL LENDING PURCHASED PORTFOLIO — FURTHER ANALYSIS Portfolio Origination Year Dollars in thousands Pre-2013 2013-2018 2019-2021 2022 and later Total Current Basis 217,422 790,236 985,289 796,288 2,789,235 # of Loans 762 1,575 722 276 3,335 % of Portfolio 8% 28% 35% 29% 100% Seasoning (Years) 18
Slide 30: Allowance Roll Forward - Linked Quarter
ALLOWANCE ROLL FORWARD - LINKED QUARTER Initial ACL on Provision ACL at ACL at June 30, Lending Division Purchased (Credit) for Charge-Offs Recoveries September 30, 2026 Loans Credit Losses 2026 Dollars in thousands National Lending Purchased $ 40,975 $ 4,383 $ (5,691) $ (856) $ 92 $ 38,903 National
Slide 31: Purchased Loan Investment Basis and Discount by Trailing Quarters
PURCHASED LOAN INVESTMENT BASIS AND DISCOUNT BY TRAILING 5 QUARTERS $3,500 $52.5 $3,000 $181.1 $45.7 $41.0 $38.9 $153.8 $136.5 $140.7 $36.4 $2,500 $171.5 $2,000 Millions $1,500 $2,856.9 $2,810.9 $2,756.6 $2,789.2 $2,406.5 $1,000 $500 $— Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Net Basis Rate Mark Dis
Slide 32: National Lending Purchased Q1 FY27 Total Return Summary
NATIONAL LENDING PURCHASED Q1 FY27 TOTAL RETURN SUMMARY (1) Total Return on Purchased Loans Dollars in thousands Income Return Regularly scheduled interest and accretion 52,548 7.70 % Transactional income: Release of allowance for credit losses on purchased loans 5,921 0.87 % Accelerated accretion a