Northeast Bancorp of Lewiston reported a slight increase in net income in its second fiscal quarter, which ended Dec. 31, compared with a year earlier.

The parent company of Northeast Bank said Monday that it generated quarterly net income of $3.3 million, or 36 cents per share, up 6.5 percent from $3.1 million, or 35 cents per share, in the second fiscal quarter of 2016.

The company’s board of directors on Friday declared a cash dividend of 1 cent per share, payable to investors Feb. 27.

“I am pleased to report another strong quarter,” Northeast President and CEO Richard Wayne said in a news release. “Our Loan Acquisition and Servicing Group produced $79.1 million of loans, including originations of $44.3 million and purchases with a recorded investment of $34.8 million, for net growth in the (group’s) portfolio of $20.3 million, or 3.6 percent, over the linked quarter. With transactional income of $1.9 million, we achieved a total return on our purchased loan portfolio of 11 percent and a net interest margin of 4.9 percent for the quarter.”

As of Dec. 31, the bank’s total assets were $1.03 billion, a decrease of $42.4 million, or 3.9 percent, from total assets of $1.08 billion as of June 30.

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