Northeast Bank jumps after loan portfolio purchase

Community bank Northeast Bank's NBN.O shares jump 10.5% to $111.30

NBN late Wednesday unveiled purchase of commercial real estate (CRE) loans with unpaid principal balance of roughly $525 million

Transaction is expected to close late in the current quarter and have minimal impact on Q2 2026 earnings

"This quarter's loan purchases rank as our third-highest volume since we started purchasing loans. This is a testament to our ability to capitalize on opportunities of all sizes in this robust secondary loan market" - CEO Rick Wayne

NBN had scooped up CRE loans last year as well from secondary loan market

One of two brokerages rates the stock "buy" and one "hold"; median PT $117.50 - data compiled by LSEG

As of last close, NBN stock was up 9.8% YTD