Northeast Bank: The Small Bank with the Big Story
Reading Time: 4 minutes
From Regional Player to Niche Champion: Under CEO Richard Wayne, Northeast Bank has transformed from a local credit institution into a highly profitable specialty bank. Strongly Undervalued: Return on equity exceeding 20%, a P/E ratio of only 8.4, and a stock price that has increased tenfold since 2010. Northeast Bank has been in existence since 1872 and was long a classic regional bank from Portland, Maine – focusing on deposits, mortgages, and local corporate clients. However, after the financial crisis in 2008, this model faced pressure...
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