Operating cash flows remain volatile, exemplified by a negative $56.4 million in 2026Q2, reflecting the lumpy nature of capital deployment into specialized national loan pools.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 | Jun'99 | Jun'98 | Jun'97 | Jun'96 |
|---|
| Cash from Operations | 3.98M | 54.13M | 2.56M | 60.11M | 30.5M | 8.34M | 16.31M | 18.77M | 19.45M | 33.99M | 5.09M | 21.52M | -5.54M | 1.32M | -6.97M | 8.35M | -7.86M | 2.88M | 4.95M | 3.26M | 5.44M | 5.66M | 7.2M | 1.02M | 5.04M | 3.41M | 5.3M | 2.5M | 3.3M | 2.8M | 2.1M |
| Operating CF Growth % | 4432.3% | 2013.51% | -95.74% | 97.09% | 265.72% | -48.86% | -13.14% | -3.5% | -42.77% | 567.26% | -76.33% | 488.52% | -518.67% | 118.97% | -183.49% | 206.3% | -372.98% | -41.87% | 51.96% | -40.1% | -3.83% | -21.47% | 606.09% | -79.75% | 47.74% | -35.59% | 111.87% | -24.24% | 17.86% | 33.33% | -19.23% |
| Net Income | 98.35M | 83.44M | 58.23M | 44.19M | 42.16M | 71.5M | 22.74M | 13.88M | 16.17M | 12.34M | 7.62M | 7.14M | 2.69M | 4.42M | 2.16M | 14.35M | 1.72M | 958.99K | 1.93M | 1.89M | 4M | 4.02M | 3.51M | 3.86M | 3.85M | 3.48M | 3.21M | 2.4M | 2.4M | 1.5M | 1.3M |
| Depreciation & Amortization | 2.36M | 3.15M | 3.06M | 3.21M | 2.6M | 2.6M | 2.95M | 1.76M | 1.73M | 1.88M | 2.11M | 2.25M | 2.75M | 2.69M | 2.56M | 2.52M | 1.8M | 1.9M | 1.73M | 1.4M | 1.29M | 961.04K | 880.55K | 854.75K | 794.68K | 976.09K | 1.08M | 1.2M | 900K | 900K | 1M |
| Deferred Taxes | -3.54M | -2.44M | -285K | -4.72M | 819K | -713K | -4.39M | -3.73M | 498K | -1.02M | 2.12M | -1.19M | -2.67M | -428K | 1.83M | 241K | 177.29K | -181.71K | 218.58K | -329.27K | -323.22K | -197.52K | -294.74K | -34.67K | 163.02K | -274.48K | -154.58K | 100K | 0 | -100K | 0 |
| Other Non-Cash Items | -112.22M | -55.42M | -52.95M | -7.32M | -12.85M | -64.01M | -10.47M | 4.05M | -4.26M | 15.34M | -7.59M | 12.02M | -11.01M | -12.38M | -13.41M | -8.45M | -9.5M | -109.3K | -376.26K | 1.16M | 594.12K | 1.24M | 3.4M | -3.95M | 618.61K | -559.81K | 863.5K | 100K | -200K | 700K | 0 |
| Working Capital Changes | 13.42M | 18.62M | -10.8M | 21.32M | -4.11M | -2.02M | 4.37M | 1.45M | 4.45M | 4.51M | 223K | 587K | 2.02M | 6.46M | -560K | -299K | -2.05M | 311.32K | 1.45M | -863.5K | -123.67K | -361.72K | -296.01K | 296.31K | -388.89K | -214.19K | 295.06K | -1.3M | 200K | -200K | -200K |
| Cash from Investing | -636.41M | -919.85M | -158.25M | -1.23B | -248.95M | 27.46M | 1.5M | -89.38M | -83.6M | -93.68M | -67.64M | -94.14M | -64.83M | -63.08M | -18.64M | 78.55M | -3.15M | -3.3M | -35.01M | 6.68M | 10.2M | -38.13M | -79.68M | -22.38M | -7.29M | 4.48M | -69.75M | -43.2M | -45.1M | -34.7M | -20.9M |
| Purchase of Investments | 0 | -7.64M | -20.6M | -26.05M | -16.93M | -42.82M | -15.04M | -32.97M | -26.17M | -19.53M | -45.16M | 0 | -48.48M | -167.54M | -185.99M | -226.05M | -61.69M | -55.58M | -78.5M | -14.72M | -25.37M | -22.86M | -47.43M | -42.69M | -30.8M | -1.59M | -10.14M | -16M | -17.3M | -12.6M | -38.6M |
| Sale/Maturity of Investments | 16.59M | 41.67M | 25.83M | 27.19M | 20.02M | 46.91M | 26.29M | 39.16M | 33.74M | 21.2M | 46.5M | 11.41M | 57.94M | 174.78M | 202.2M | 238.26M | 50.78M | 40.79M | 36.34M | 16.21M | 11.58M | 16.99M | 22.36M | 31.01M | 19.32M | 5.51M | 3.63M | 11M | 49.3M | 15.3M | 18.3M |
| Net Investment Activity | 16.59M | 34.04M | 5.23M | 1.14M | 3.09M | 4.09M | 11.24M | 6.19M | 7.57M | 1.68M | 1.34M | 11.41M | 9.46M | 7.24M | 16.21M | 12.21M | -10.91M | -14.79M | -42.16M | 1.49M | -13.79M | -5.88M | -25.06M | -11.68M | -11.49M | 3.92M | -6.5M | -5M | 32M | 2.7M | -20.3M |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.89M | 147K | 534K | -717.71K | -3.74M | -2.45M | 0 | -993.47K | 0 | -7.12M | -284.79K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -651.99M | -953.18M | -161.03M | -1.23B | -250.98M | 24.63M | -8.59M | -95.27M | -90.19M | -94.66M | -67.79M | -104.31M | -73.2M | -67.43M | -42.17M | 67.64M | 7.95M | 13.42M | 12.76M | 8.76M | 25.1M | -30.02M | -53.51M | -3.04M | 5.08M | 990.6K | -62.92M | -36.8M | -76.7M | -36.4M | -200K |
| Cash from Financing | 689.48M | 1.04B | 199.94M | 1.2B | -619.96M | 831.03M | 68.94M | -29.89M | 58.27M | 71.82M | 123.85M | 80.21M | 86.7M | -580K | 69.96M | -23.41M | 18.42M | 899.06K | 31.86M | -11.3M | -17.41M | 31.7M | 68.32M | 21.42M | 6.82M | -6.48M | 65.14M | 40.6M | 35.2M | 36.8M | 15.6M |
| Dividends Paid | -345K | -335K | -306K | -295K | -315K | -331K | -358K | -359K | -355K | -357K | -380K | -402K | -2.92M | -3.86M | -1.47M | -1.26M | -1.05M | -923.86K | -851.78K | -882.45K | -897.09K | -910.22K | -888.33K | -847.25K | -648.73K | -661.5K | -632.97K | -600K | -600K | -500K | -400K |
| Share Repurchases | -1.68M | 0 | 0 | -5.16M | -27.98M | -5.74M | -11.47M | 0 | 0 | -6.94M | -3.36M | -6.67M | -2.82M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 31.25M | 18.24M | 8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 52.67M | 16.26M | 20K | 4.25M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | -1.68M | 31.25M | 18.24M | 2.83M | -27.98M | -5.74M | -11.47M | 0 | 0 | -6.94M | -3.36M | -6.67M | -2.82M | 0 | 52.67M | 16.26M | 20K | 4.25M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | -2M | -1000K | -1000K | 1000K | -1000K | 1000K | 1000K | -282K | -1000K | -1000K | 1000K | -1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Financing | 547.13M | 1.03B | 401.09M | 647.57M | -575.01M | 826.03M | 69.72M | -12.75M | 63.89M | 89.37M | 125.67M | 100.6M | 90.27M | 63.37M | 22.36M | 13.9M | -1.19M | 47.01M | -1.18M | -30.74M | -424.5K | 18.4M | 59.22M | 15.55M | 29.06M | 14.15M | 40.09M | 35.3M | 11.1M | 9M | -1.9M |
| Net Change in Cash | 57.05M | 171.46M | 44.25M | 25.83M | -838.41M | 866.83M | 86.75M | -100.5M | -5.88M | 12.13M | 61.31M | 7.59M | 16.32M | -62.34M | 44.34M | 63.5M | 7.41M | 478.66K | 1.8M | -1.36M | -1.77M | -774.55K | -4.16M | 58.83K | 4.56M | 1.41M | 684.37K | -100K | -6.6M | 4.9M | -14.7M |
| Exchange Rate Effect | 45.09M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 446.22M | 242.16M | 197.91M | 172.08M | 1.01B | 143.66M | 56.91M | 157.4M | 163.28M | 151.16M | 89.85M | 82.26M | 65.93M | 128.27M | 83.93M | 79.03M | 13.02M | 12.54M | 10.74M | 12.1M | 13.87M | 14.65M | 18.81M | 18.75M | 14.19M | 12.78M | 12.09M | 12.2M | 18.8M | 13.9M | 14.7M |
| Cash at End | 401.13M | 413.62M | 242.16M | 197.91M | 172.08M | 1.01B | 143.66M | 56.91M | 157.4M | 163.28M | 151.16M | 89.85M | 82.26M | 65.93M | 128.27M | 142.53M | 20.44M | 13.02M | 12.54M | 10.74M | 12.1M | 13.87M | 14.65M | 18.81M | 18.75M | 14.19M | 12.78M | 12.1M | 12.2M | 18.8M | 30.3M |
| Interest Paid | 143.24M | 129.65M | 108.41M | 46.46M | 5.73M | 11.34M | 18.82M | 19.09M | 12.17M | 9.5M | 7.77M | -7.49M | 7.5M | 8.75M | 9.77M | 9.28M | 13.54M | 17.11M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 42.54M | 41.43M | 35.52M | 28.25M | 17.99M | 32.46M | 13.29M | 4.41M | 5.34M | 7.67M | 2.17M | -5.66M | 3.5M | 954K | 321K | 874K | 890K | 372.98K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 2.97M | 53.42M | 111K | 57.64M | 29.44M | 7.08M | 15.15M | 18.48M | 18.47M | 33.3M | 3.9M | 20.28M | -6.63M | -1.57M | -9.54M | 6.91M | -8.58M | 1.67M | 3.08M | 2.14M | 4.33M | 4.42M | 6.1M | 489.18K | 4.44M | 2.98M | 4.97M | 1.1M | 2.9M | 1.8M | 1.7M |
| FCF Growth % | -2.43% | 48026.13% | -99.81% | 95.8% | 316.13% | -53.31% | -18% | 0.02% | -44.52% | 752.84% | -80.75% | 406.05% | -320.9% | 83.5% | -238.15% | 180.5% | -614.69% | -45.87% | 44.14% | -50.66% | -1.96% | -27.6% | 1146.9% | -88.97% | 48.98% | -40.09% | 351.9% | -62.07% | 61.11% | 5.88% | 0% |
National CRE Concentration
According to recent financial disclosures, Northeast Bank has consistently generated positive net income, with 2026Q3 earnings reaching $29.9 million, providing a stable foundation for capital retention that supports the bank's specialized national lending activities while maintaining regulatory capital buffers despite the inherent volatility of its operating cash flows.
The bank's ability to generate consistent earnings despite the lumpy nature of its national lending acquisitions suggests a robust internal capital generation engine. Investors should monitor whether this organic capital growth remains sufficient to support the bank's aggressive expansion into complex commercial real estate assets without requiring external equity dilution.
Based on the bank's quarterly cash flow statements, investment activity has been characterized by minimal purchase volume and sporadic sales, with 2026Q3 proceeds from asset sales totaling only $155,000, indicating that the bank prioritizes loan portfolio growth over maintaining a large, liquid investment securities portfolio for secondary liquidity.
The lack of significant investment activity suggests that NBN is not utilizing its securities portfolio as a primary liquidity buffer, instead relying on its national lending platform to drive asset turnover. This strategy appears to increase the bank's sensitivity to market-wide liquidity conditions, as the portfolio lacks the traditional cushion provided by high-quality, liquid investment securities.
As reported in the statement of cash flows, Northeast Bank's operating cash flow has exhibited significant quarterly swings, including a negative $56.4 million in 2026Q2, which reflects the lumpy nature of loan originations and the bank's strategic focus on acquiring distressed commercial loan pools on a national scale.
The extreme variance in operating cash flow is a direct consequence of the bank's business model, which relies on the episodic acquisition of loan pools rather than steady-state retail lending. This volatility warrants further investigation into how the bank manages short-term liquidity needs during periods of heavy loan acquisition activity.
Based on the provided financial data, Northeast Bank maintains a conservative approach to capital returns, with dividend payments remaining consistently below $100,000 per quarter, suggesting that management prioritizes the reinvestment of earnings into the high-yield national lending division over aggressive shareholder distributions or large-scale share buyback programs.
The modest level of dividends and intermittent share repurchases indicate a management team focused on capital preservation and growth. This strategy appears appropriate given the bank's reliance on specialized underwriting, where maintaining a strong capital base is essential to absorbing potential losses from its concentrated commercial real estate portfolio.
Quick answers to the most common questions about buying NBN stock.
Northeast Bank (NBN) generated $54.1M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Northeast Bank (NBN) generated $53.4M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Northeast Bank (NBN) spent $0.7M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Northeast Bank (NBN) returned $0.3M to shareholders via cash dividends. This shows the company's commitment to returning capital to its equity investors.