| NORTHEAST                BANCORP                                                 |   |
|----------------------------------------------------------------------------------|--------|
| Exhibit                11. Statement Regarding Computation of Per Share Earnings |   |
|                                                                             |   |   |   |   |   |
|                                                                             |   | Three                Months Ended |   | Three                Months Ended |   |
|                                                                             |   | March                31, 2007 |   | March                31, 2006 |   |
| EQUIVALENT                SHARES:                                                |   |   |   |   |   |
|                                                                             |   |   |   |   |   |
| Weighted                Average Shares Outstanding                               |   |   | 2,452,632 |   |   | 2,479,835 |   |
|                                                                             |   |   |   |   |   |   |   |
| Total                Diluted Shares                                              |   |   | 2,471,476 |   |   | 2,509,369 |   |
|                                                                             |   |   |   |   |   |   |   |
| Net                Income                                                        |   | $ | 524,967 |   | $ | 873,741 |   |
|                                                                             |   |   |   |   |   |   |   |
| Basic                Earnings Per Share                                          |   | $ | 0.21 |   | $ | 0.35 |   |
|                                                                             |   |   |   |   |   |   |   |
| Diluted                Earnings Per Share                                        |   | $ | 0.21 |   | $ | 0.35 |   |
|                                                                             |   |   |   |   |   |   |   |
|                                                                             |   |   |   |   |   |   |   |
|                                                                             |   |   | Nine                  Months Ended |   |   | Nine                Months Ended |   |
|                                                                                  |   |   | March                31, 2007  |   |   | March                31, 2006 |   |
| EQUIVALENT                SHARES:                                                |   |   |   |   |   |   |   |
|                                                                             |   |   |   |   |   |   |   |
| Weighted                Average Shares Outstanding                               |   |   | 2,451,298 |   |   | 2,509,718 |   |
|                                                                             |   |   |   |   |   |   |   |
| Total                Diluted Shares                                              |   |   | 2,471,156 |   |   | 2,543,791 |   |
|                                                                             |   |   |   |   |   |   |   |
| Net                Income                                                        |   | $ | 1,396,991 |   | $ | 2,987,034 |   |
|                                                                             |   |   |   |   |   |   |   |
| Basic                Earnings Per Share                                          |   | $ | 0.57 |   | $ | 1.19 |   |
|                                                                             |   |   |   |   |   |   |   |
| Diluted                Earnings Per Share                                        |   | $ | 0.57 |   | $ | 1.17 |   |