Lewiston-based Northeast Bancorp, the parent company of Northeast Bank, reported net income of $960,691 for the quarter ending Sept. 30, a 94 percent gain over the same period last year.
The firm’s fiscal year 2010 first quarter net income was $495,669.
The bank attributed the results to strong residential loan originations and improved investment commission income.
Common stockholders’ diluted shares rose to 38 cents, up from 19 cents during the same period last year.