| FOR IMMEDIATE RELEASE For More Information:                                                                                                                                                                                                                                                |     |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|
| Claire S. Bean, Chief Financial Officer & C.O.O.Northeast Bank, 500 Canal Street, Lewiston, ME 04240207-786-3245ext. 6202www.northeastbank.comOrChris Delamater, VP Marketing DirectorNortheast Bank, 500 Canal Street, Lewiston, ME 04240207-786-3245 ext. 3548www.northeastbank.com  |               |

| 1.   | A $69.3 million, or 17.7%, reduction in loans outstanding, approximately half of which is attributable to loan sales, principally from the Company’s indirect consumer loan portfolio. The remainder of the reduction is the result of net amortization and pay-offs of residential and commercial loans and a $5.9 million decrease in loans held for sale. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | A $32.9 million, or 71.4%, reduction in short-term borrowed funds; |
|----------------|--------------------------------------------------------------------|

| 3.   | A $17.2 million, or 4.5%, net increase in deposits, of which $21.0 million occurred in the current quarter; |
|----------------|-------------------------------------------------------------------------------------------------------------|

| 4.   | A $52.4 million, or 28.4%, increase in cash and securities, the net result of changes in loans and funding sources, and the infusion of new capital in conjunction with the merger. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.   | A $296,000 positive adjustment to the bargain purchase gain recorded in connection with the accounting for the merger, resulting from final valuations for the Company’s identifiable intangible assets for its insurance division, its fixed assets and its Series A preferred stock and related warrants; |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | In accordance with the merger agreement, $450,000 of compensation expense, representing retention payments owed to certain Community Bank division employees; |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | A net loss on the sale of loans (principally indirect consumer loans) of $179,000; and |
|----------------|----------------------------------------------------------------------------------------|

| 4.   | Merger-related expenses of $132,000. |
|----------------|--------------------------------------|

| NORTHEAST BANCORP AND SUBSIDIARY                                                                   |   |        |    |   |        |   |
|----------------------------------------------------------------------------------------------------|--------|-------------|---------|--------|-------------|--------|
| CONSOLIDATED BALANCE SHEETS                                                                        |   |        |    |   |        |   |
| (Dollars in thousands)                                                                             |   |        |    |   |        |   |
|                                                                                               |   | Successor   |    |   | Predecessor |   |
|                                                                                               |   | Company (1) |    |   | Company (2) |   |
|                                                                                               |   | March 31,   |    |   | June 30,    |   |
|                                                                                               |   | 2011        |    |   | 2010        |   |
|                                                                                               |   | (Unaudited) |    |   | (Audited)   |   |
| Assets                                                                                             |   |        |    |   |        |   |
| Cash and due from banks                                                                            |   | $           | 3,283   |   |        | $      | 7,019 |   |
| Interest-bearing deposits                                                                          |   |        | 106,472 |   |        |   | 13,416 |   |
| Total cash and cash equivalents                                                                    |   |        | 109,755 |   |        |   | 20,435 |   |
|                                                                                               |   |        |    |   |        |   |   |   |
| Available-for-sale securities, at fair value                                                       |   |        | 127,227 |   |        |   | 164,188 |   |
| Loans held-for-sale                                                                                |   |        | 8,378   |   |        |   | 14,254 |   |
|                                                                                               |   |        |    |   |        |   |   |   |
| Loans receivable                                                                                   |   |        |    |   |        |   |   |   |
| Residential real estate                                                                            |   |        | 143,172 |   |        |   | 155,613 |   |
| Commercial real estate                                                                             |   |        | 117,562 |   |        |   | 121,175 |   |
| Construction                                                                                       |   |        | 2,941   |   |        |   | 5,525 |   |
| Commercial business                                                                                |   |        | 25,490  |   |        |   | 30,214 |   |
| Consumer                                                                                           |   |        | 23,891  |   |        |   | 69,782 |   |
| Total loans, gross                                                                                 |   |        | 313,056 |   |        |   | 382,309 |   |
| Less allowance for loan losses                                                                     |   |        | 14      |   |        |   | 5,806 |   |
| Loans, net                                                                                         |   |        | 313,042 |   |        |   | 376,503 |   |
|                                                                                               |   |        |    |   |        |   |   |   |
| Premises and equipment, net                                                                        |   |        | 8,079   |   |        |   | 7,997 |   |
| Acquired assets, net                                                                               |   |        | 753     |   |        |   | 1,292 |   |
| Accrued interest receivable                                                                        |   |        | 1,375   |   |        |   | 2,081 |   |
| Federal Home Loan Bank stock, at cost                                                              |   |        | 4,889   |   |        |   | 4,889 |   |
| Federal Reserve Bank stock, at cost                                                                |   |        | 597     |   |        |   | 597 |   |
| Intangible assets                                                                                  |   |        | 13,344  |   |        |   | 11,371 |   |
| Bank owned life insurance                                                                          |   |        | 13,667  |   |        |   | 13,286 |   |
| Other assets                                                                                       |   |        | 6,268   |   |        |   | 5,714 |   |
| Total assets                                                                                       |   | $           | 607,374 |   |        | $      | 622,607 |   |
|                                                                                               |   |        |    |   |        |   |   |   |
| Liabilities and Stockholders' Equity                                                               |   |        |    |   |        |   |   |   |
| Liabilities:                                                                                       |   |        |    |   |        |   |   |   |
| Deposits                                                                                           |   |        |    |   |        |   |   |   |
| Demand                                                                                             |   | $           | 45,254  |   |        | $      | 35,266 |   |
| Savings and interest checking                                                                      |   |        | 90,379  |   |        |   | 89,024 |   |
| Money market                                                                                       |   |        | 52,226  |   |        |   | 55,556 |   |
| Brokered time deposits                                                                             |   |        | 4,934   |   |        |   | 4,883 |   |
| Certificates of deposit                                                                            |   |        | 208,571 |   |        |   | 199,468 |   |
| Total deposits                                                                                     |   |        | 401,364 |   |        |   | 384,197 |   |
|                                                                                               |   |        |    |   |        |   |   |   |
| Federal Home Loan Bank advances                                                                    |   |        | 43,974  |   |        |   | 50,500 |   |
| Structured repurchase agreements                                                                   |   |        | 68,434  |   |        |   | 65,000 |   |
| Short-term borrowings                                                                              |   |        | 13,226  |   |        |   | 46,168 |   |
| Junior subordinated debentures issued to affiliated trusts                                         |   |        | 7,922   |   |        |   | 16,496 |   |
| Capital lease obligation                                                                           |   |        | 2,114   |   |        |   | 2,231 |   |
| Other borrowings                                                                                   |   |        | 2,134   |   |        |   | 2,630 |   |
| Other liabilities                                                                                  |   |        | 3,317   |   |        |   | 4,479 |   |
| Total liabilities                                                                                  |   |        | 542,485 |   |        |   | 571,701 |   |
|                                                                                               |   |        |    |   |        |   |   |   |
| Commitments and contingent liabilities                                                             |   |        |    |   |        |   |   |   |
|                                                                                               |   |        |    |   |        |   |   |   |
| Stockholders' equity                                                                               |   |        |    |   |        |   |   |   |
| Preferred stock, $1.00 par value, 1,000,000 shares authorized; 4,227 shares issued and outstanding |   |        |    |   |        |   |   |   |
| at March 31, 2011 and June 30, 2010 liquidation preference of $1,000 per share                     |   |        | 4       |   |        |   | 4 |   |
| Voting common stock, at stated value, 13,500,000 shares authorized; 3,310,173 and 2,332,832 shares |   |        |    |   |        |   |   |   |
| issued and outstanding at March 31, 2011 and June 30, 2010, respectively                           |   |        | 3,310   |   |        |   | 2,324 |   |
| Non-voting common stock, at stated value, 1,500,000 shares authorized; 195,351 and 0 shares        |   |        |    |   |        |   |   |   |
| issued and outstanding at March 31, 2011 and June 30, 2010, respectively                           |   |        | 195     |   |        |   | - |   |
| Warrants                                                                                           |   |        | 406     |   |        |   | 133 |   |
| Additional paid-in capital                                                                         |   |        | 49,535  |   |        |   | 6,761 |   |
| Unearned restricted stock award                                                                    |   |        | (172    | )      |        |   | - |   |
| Retained earnings                                                                                  |   |        | 11,579  |   |        |   | 37,338 |   |
| Accumulated other comprehensive income                                                             |   |        | 32      |   |        |   | 4,346 |   |
| Total stockholders' equity                                                                         |   |        | 64,889  |   |        |   | 50,906 |   |
|                                                                                               |   |        |    |   |        |   |   |   |
| Total liabilities and stockholders' equity                                                         |   | $           | 607,374 |   |        | $      | 622,607 |   |

| (1)  | "Successor Company" means Northeast Bancorp and its subsidiary after the closing of the merger with FHB Formation LLC on December  29, 2010.    |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |                                                                                                                                                      |   |   |   |   |   |
| (2)  | "Predecessor Company" means Northeast Bancorp and its subsidiary before the closing of the merger with FHB Formation LLC on December  29, 2010. |

| NORTHEAST BANCORP AND SUBSIDIARY                                              |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |
|-------------------------------------------------------------------------------|--------|--------------|-----------|--------|-------------|--------|-----------|--------------|--------|--------|--------------|--------|--------|-------------|-----------|
| CONSOLIDATED STATEMENTS OF INCOME                                             |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |
| (Unaudited)                                                                   |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |
| (Dollars in thousands, except share and per share data)                       |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |
|                                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |
|                                                                          |   | Successor    |      |   | Predecessor |   |
|                                                                          |   | Company (1)  |      |   | Company (2) |   |
|                                                                          |   | Three Months |      |   | 93 Days     |   |      | 181 Days     |   |   | Three Months |   |   | Nine Months |      |
|                                                                          |   | Ended        |      |   | Ended       |   |      | Ended        |   |   | Ended        |   |   | Ended       |      |
|                                                                          |   | March 31,    |      |   | March 31,   |   |      | December 28, |   |   | March 31,    |   |   | March 31,   |      |
|                                                                          |   | 2011         |      |   | 2011        |   |      | 2010         |   |   | 2010         |   |   | 2010        |      |
| Interest and dividend income:                                                 |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |
| Interest on loans                                                             |   | $            | 5,649     |   |        | $      | 5,845     |         |   | $      | 11,210       |   |   | $           | 5,960     |   |   | $ | 18,034 |   |
| Taxable interest on available-for-sale securities                             |   |         | 832       |   |        |   | 872       |         |   |   | 2,854        |   |   |        | 1,733     |   |   |   | 5,171 |   |
| Tax-exempt interest on available-for-sale securities                          |   |         | 71        |   |        |   | 75        |         |   |   | 231          |   |   |        | 121       |   |   |   | 356 |   |
| Dividends on available-for-sale securities                                    |   |         | 7         |   |        |   | 7         |         |   |   | 26           |   |   |        | 19        |   |   |   | 46 |   |
| Dividends on Federal Home Loan Bank  and Federal Reserve Bank stock |   |         | 12        |   |        |   | 13        |         |   |   | 18           |   |   |        | 9         |   |   |   | 27 |   |
| Other interest and dividend income                                            |   |         | 33        |   |        |   | 34        |         |   |   | 39           |   |   |        | 2         |   |   |   | 10 |   |
| Total interest and dividend income                                            |   |         | 6,604     |   |        |   | 6,846     |         |   |   | 14,378       |   |   |        | 7,844     |   |   |   | 23,644 |   |
|                                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Interest expense:                                                             |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Deposits                                                                      |   |         | 774       |   |        |   | 816       |         |   |   | 2,796        |   |   |        | 1,682     |   |   |   | 5,507 |   |
| Federal Home Loan Bank advances                                               |   |         | 284       |   |        |   | 299       |         |   |   | 918          |   |   |        | 457       |   |   |   | 1,336 |   |
| Structured repurchase agreements                                              |   |         | 249       |   |        |   | 272       |         |   |   | 1,392        |   |   |        | 692       |   |   |   | 2,172 |   |
| Short-term borrowings                                                         |   |         | 60        |   |        |   | 67        |         |   |   | 376          |   |   |        | 165       |   |   |   | 486 |   |
| Junior subordinated debentures issued to affiliated trusts                    |   |         | 174       |   |        |   | 180       |         |   |   | 340          |   |   |        | 182       |   |   |   | 587 |   |
| Obligation under capital lease agreements                                     |   |         | 26        |   |        |   | 28        |         |   |   | 55           |   |   |        | 28        |   |   |   | 88 |   |
| Other borrowings                                                              |   |         | 35        |   |        |   | 35        |         |   |   | 75           |   |   |        | 43        |   |   |   | 156 |   |
| Total interest expense                                                        |   |         | 1,602     |   |        |   | 1,697     |         |   |   | 5,952        |   |   |        | 3,249     |   |   |   | 10,332 |   |
|                                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Net interest and dividend income before provision for loan losses             |   |         | 5,002     |   |        |   | 5,149     |         |   |   | 8,426        |   |   |        | 4,595     |   |   |   | 13,312 |   |
|                                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Provision for loan losses                                                     |   |         | 49        |   |        |   | 49        |         |   |   | 912          |   |   |        | 628       |   |   |   | 1,504 |   |
| Net interest and dividend income after provision for loan losses              |   |         | 4,953     |   |        |   | 5,100     |         |   |   | 7,514        |   |   |        | 3,967     |   |   |   | 11,808 |   |
|                                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Noninterest income:                                                           |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Fees for other services to customers                                          |   |         | 310       |   |        |   | 323       |         |   |   | 698          |   |   |        | 350       |   |   |   | 1,116 |   |
| Net securities gains                                                          |   |         | 47        |   |        |   | 47        |         |   |   | 17           |   |   |        | (63       | ) |   |   | (20 | ) |
| Gain on sales of loans                                                        |   |         | 295       |   |        |   | 344       |         |   |   | 1,867        |   |   |        | 141       |   |   |   | 708 |   |
| Investment commissions                                                        |   |         | 709       |   |        |   | 734       |         |   |   | 1,174        |   |   |        | 467       |   |   |   | 1,455 |   |
| Insurance commissions                                                         |   |         | 1,458     |   |        |   | 1,495     |         |   |   | 2,661        |   |   |        | 1,741     |   |   |   | 4,705 |   |
| BOLI income                                                                   |   |         | 126       |   |        |   | 131       |         |   |   | 250          |   |   |        | 125       |   |   |   | 376 |   |
| Bargain purchase gain                                                         |   |         | 296       |   |        |   | 15,216    |         |   |   | -            |   |   |        | -         |   |   |   | - |   |
| Other  income                                                       |   |         | 148       |   |        |   | 156       |         |   |   | 330          |   |   |        | 292       |   |   |   | 510 |   |
| Total noninterest income                                                      |   |         | 3,389     |   |        |   | 18,446    |         |   |   | 6,997        |   |   |        | 3,053     |   |   |   | 8,850 |   |
|                                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Noninterest expense:                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Salaries and employee benefits                                                |   |         | 4,824     |   |        |   | 4,991     |         |   |   | 6,670        |   |   |        | 3,469     |   |   |   | 10,392 |   |
| Occupancy and equipment expense                                               |   |         | 903       |   |        |   | 930       |         |   |   | 1,556        |   |   |        | 907       |   |   |   | 2,566 |   |
| Professional fees                                                             |   |         | 378       |   |        |   | 387       |         |   |   | 527          |   |   |        | 211       |   |   |   | 797 |   |
| Data processing fees                                                          |   |         | 326       |   |        |   | 337       |         |   |   | 618          |   |   |        | 300       |   |   |   | 927 |   |
| Intangible assets amortization                                                |   |         | 439       |   |        |   | 444       |         |   |   | 344          |   |   |        | 177       |   |   |   | 549 |   |
| Merger expense                                                                |   |         | 132       |   |        |   | 3,182     |         |   |   | 94           |   |   |        | 157       |   |   |   | 157 |   |
| Other                                                                         |   |         | 1,337     |   |        |   | 1,455     |         |   |   | 2,138        |   |   |        | 1,051     |   |   |   | 3,052 |   |
|   Total noninterest expense                                         |   |         | 8,339     |   |        |   | 11,726    |         |   |   | 11,947       |   |   |        | 6,272     |   |   |   | 18,440 |   |
|                                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Income before income tax expense                                              |   |         | 3         |   |        |   | 11,820    |         |   |   | 2,564        |   |   |        | 748       |   |   |   | 2,218 |   |
| Income tax (benefit) expense                                                  |   |         | (153      | )      |        |   | (171      | )            |   |   | 768          |   |   |        | 217       |   |   |   | 542 |   |
|                                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Net income                                                                    |   | $            | 156       |   |        | $      | 11,991    |         |   | $      | 1,796        |   |   | $           | 531       |   |   | $ | 1,676 |   |
|                                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Net income available to common stockholders                                   |   | $            | 58        |   |        | $      | 11,891    |         |   | $      | 1,677        |   |   | $           | 470       |   |   | $ | 1,493 |   |
|                                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
|                                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Weighted-average shares outstanding                                           |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
| Basic                                                                         |   |         | 3,492,498 |   |        |   | 3,492,498 |         |   |   | 2,330,197    |   |   |        | 2,322,332 |   |   |   | 2,321,726 |   |
| Diluted                                                                       |   |         | 3,559,873 |   |        |   | 3,560,278 |         |   |   | 2,354,385    |   |   |        | 2,342,153 |   |   |   | 2,331,227 |   |
| Earnings per common share:                                                    |   |         |      |   |        |   |      |         |   |   |         |   |   |        |      |   |   |   |   |   |
|  Basic                                                                   |   | $            | 0.02      |   |        | $      | 3.39      |         |   | $      | 0.72         |   |   | $           | 0.20      |   |   | $ | 0.64 |   |
|  Diluted                                                                 |   | $            | 0.02      |   |        | $      | 3.33      |         |   | $      | 0.71         |   |   | $           | 0.20      |   |   | $ | 0.64 |   |

| (1)  | "Successor Company" means Northeast Bancorp and its subsidiary after the closing of the merger with FHB Formation LLC on December  29, 2010.    |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |                                                                                                                                                      |   |   |   |   |   |
| (2)  | "Predecessor Company" means Northeast Bancorp and its subsidiary before the closing of the merger with FHB Formation LLC on December  29, 2010. |

| NORTHEAST BANCORP AND SUBSIDIARY                                        |   |         |      |   |        |   |      |         |   |   |         |   |   |
|-------------------------------------------------------------------------|--------|--------------|-----------|--------|-------------|--------|-----------|--------------|--------|--------|--------------|--------|--------|
| SELECTED CONSOLIDATED FINANCIAL HIGHLIGHTS AND OTHER DATA               |   |         |      |   |        |   |      |         |   |   |
| (Unaudited)                                                             |   |         |      |   |        |   |      |         |   |   |         |   |   |
| (Dollars in thousands, except share and per share data)                 |   |         |      |   |        |   |      |         |   |   |         |   |   |
|                                                                    |   |         |      |   |        |   |      |         |   |   |         |   |   |   |   |
|                                                                    |   | Successor    |      |   | Predecessor |   |
|                                                                    |   | Company (1)  |      |   | Company (2) |   |
|                                                                    |   | Three Months |      |   | 93 Days     |   |      | 181 Days     |   |   | Three Months |   |   | Nine Months |   |
|                                                                    |   | Ended        |      |   | Ended       |   |      | Ended        |   |   | Ended        |   |   | Ended |   |
|                                                                    |   | March 31,    |      |   | March 31,   |   |      | December 28, |   |   | March 31,    |   |   | March 31, |   |
|                                                                    |   | 2011         |      |   | 2011        |   |      | 2010         |   |   | 2010         |   |   | 2010 |   |
| Financial Highlights:                                                   |   |         |      |   |        |   |      |         |   |   |         |   |   |   |   |
| Net interest income                                                     |   | $            | 5,002     |   |        | $      | 5,149     |         |   | $      | 8,426        |   |   | $ | 4,595 |   |   | $ | 13,312 |   |
| Net income                                                              |   | $            | 156       |   |        | $      | 11,991    |         |   | $      | 1,796        |   |   | $ | 531 |   |   | $ | 1,676 |   |
| Weighted average shares outstanding:                                    |   |         |      |   |        |   |      |         |   |   |         |   |   |   |   |   |   |   |   |   |
|    Basic                                                 |   |         | 3,492,498 |   |        |   | 3,492,498 |         |   |   | 2,330,197    |   |   |   | 2,322,332 |   |   |   | 2,321,726 |   |
|    Diluted                                               |   |         | 3,559,873 |   |        |   | 3,560,278 |         |   |   | 2,354,385    |   |   |   | 2,342,153 |   |   |   | 2,331,227 |   |
| Earnings per share:                                                     |   |         |      |   |        |   |      |         |   |   |         |   |   |   |   |   |   |   |   |   |
|    Basic                                                 |   | $            | 0.02      |   |        | $      | 3.39      |         |   | $      | 0.72         |   |   | $ | 0.20 |   |   | $ | 0.64 |   |
|    Diluted                                               |   | $            | 0.02      |   |        | $      | 3.33      |         |   | $      | 0.71         |   |   | $ | 0.20 |   |   | $ | 0.64 |   |
| Stockholders' equity - end of period                                    |   | $            | 64,889    |   |        |   |      |         |   |   |         |   |   | $ | 50,096 |   |   |   |   |   |
| Book value per share - end of period                                    |   | $            | 17.33     |   |        |   |      |         |   |   |         |   |   | $ | 19.74 |   |   |   |   |   |
| Tangible book value per share - end of period                           |   | $            | 13.52     |   |        |   |      |         |   |   |         |   |   | $ | 14.60 |   |   |   |   |   |
|                                                                    |   |         |      |   |        |   |      |         |   |   |         |   |   |   |   |   |   |   |   |   |
| Ratios and Other Information:                                           |   |         |      |   |        |   |      |         |   |   |         |   |   |   |   |   |   |   |   |   |
| Return on average assets                                                |   |         | 0.10      | %      |        |   | 7.67      | %            |   |   | 0.57         | %      |   |   | 0.35 | % |   |   | 0.37 | % |
| Return on average equity                                                |   |         | 0.98      | %      |        |   | 72.56     | %            |   |   | 6.94         | %      |   |   | 4.32 | % |   |   | 4.54 | % |
| Net interest rate spread (3)                                            |   |         | 3.48      | %      |        |   | 3.46      | %            |   |   | 2.69         | %      |   |   | 3.11 | % |   |   | 2.94 | % |
| Net interest margin (4)                                                 |   |         | 3.61      | %      |        |   | 3.60      | %            |   |   | 2.91         | %      |   |   | 3.30 | % |   |   | 3.15 | % |
| Efficiency ratio (5)                                                    |   |         | 99.38     | %      |        |   | 50        | %            |   |   | 77           | %      |   |   | 82 | % |   |   | 83 | % |
| Non-interest expense to average total assets                            |   |         | 5.52      | %      |        |   | 7.50      | %            |   |   | 3.83         | %      |   |   | 4.15 | % |   |   | 4.03 | % |
| Average interest-earning assets to average interest-bearing liabilities |   |         | 111.70    | %      |        |   | 111.65    | %            |   |   | 110.66       | %      |   |   | 108.54 | % |   |   | 108.82 | % |
|                                                                    |   |         |      |   |        |   |      |         |   |   |         |   |   |   |   |   |   |   |   |   |
| At period end:                                                          |   |         |      |   |        |   |      |         |   |   |         |   |   |   |   |   |   |   |   |   |
| Non-performing assets to total assets                                   |   |         | 1.17      | %      |        |   |      |         |   |   |         |   |   |   | 1.92 | % |   |   |   |   |
| Non-performing loans to total loans                                     |   |         | 2.03      | %      |        |   |      |         |   |   |         |   |   |   | 2.55 | % |   |   |   |   |
| Allowance for loan losses to total loans                                |   |         | 0.00      | %      |        |   |      |         |   |   |         |   |   |   | 1.52 | % |   |   |   |   |
|                                                                    |   |         |      |   |        |   |      |         |   |   |         |   |   |   |   |   |   |   |   |   |
| Equity to total assets                                                  |   |         | 10.68     | %      |        |   |      |         |   |   |         |   |   |   | 8.19 | % |   |   |   |   |
| Tier 1 leverage capital  ratio                                |   |         | 10.15     | %      |        |   |      |         |   |   |         |   |   |   | 8.39 | % |   |   |   |   |
| Total risk-based capital ratio                                          |   |         | 18.51     | %      |        |   |      |         |   |   |         |   |   |   | 13.90 | % |   |   |   |   |
|                                                                    |   |         |      |   |        |   |      |         |   |   |         |   |   |   |   |   |   |   |   |   |
| Number of full service branches                                         |   |         | 10        |   |        |   |      |         |   |   |         |   |   |   | 11 |   |   |   |   |   |
| Number of insurance agency offices                                      |   |         | 10        |   |        |   |      |         |   |   |         |   |   |   | 11 |   |   |   |   |   |
| Number of investment and mortgage loan origination offices              |   |         | 6         |   |        |   |      |         |   |   |         |   |   |   | 5 |   |   |   |   |   |

| 1)   | "Successor Company" means Northeast Bancorp and its subsidiary after the closing of the merger with FHB Formation LLC on December  29, 2010.    |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |                                                                                                                                                      |   |   |   |   |   |
| (2)  | "Predecessor Company" means Northeast Bancorp and its subsidiary before the closing of the merger with FHB Formation LLC on December  29, 2010. |

| NORTHEAST BANCORP AND SUBSIDIARY                        |   |                         |    |   |       |   |   |     |   |   |
|---------------------------------------------------------|--------|------------------------------|---------|--------|------------|--------|--------|----------|--------|--------|
| CONSOLIDATED AVERAGE BALANCES AND ANNUALIZED YIELDS     |   |                         |    |   |       |   |   |     |   |   |
| (Unaudited)                                             |   |                         |    |   |       |   |   |     |   |   |
| (Dollars in thousands)                                  |   |                         |    |   |       |   |   |     |   |   |
|                                                    |   | Three months ended March 31, |    |
|                                                    |   | 2011                         |    |   | 2010       |   |
|                                                    |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |
|                                                    |   |                         |    |   |       |   |   | Average  |   |   |   |   |   |   |   |   | Average |   |
|                                                    |   | Average                      |    |   |       |   |   | Yield/   |   |   | Average |   |   |   |   |   | Yield/ |   |
|                                                    |   | Balance                      |    |   | Q-T-D Inc. |   |   | Rate (1) |   |   | Balance |   |   | Q-T-D Inc. |   |   | Rate |   |
| Assets:                                                 |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |
|                                                    |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |
| Interest earning-assets:                                |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |
| Securities                                              |   | $                            | 143,482 |   |       | $      | 910    |     |   |   | 2.67 | % |   | $ | 166,707 |   |   | $ | 1,873 |   |   |   | 4.70 | % |
| Loans (2)(3)                                            |   |                         | 357,376 |   |       |   | 5,649  |     |   |   | 6.41 | % |   |   | 390,503 |   |   |   | 5,960 |   |   |   | 6.19 | % |
| Bank Regulatory Stock                                   |   |                         | 5,486   |   |       |   | 12     |     |   |   | 0.89 | % |   |   | 5,486 |   |   |   | 9 |   |   |   | 0.67 | % |
| Short-term investments (4)                              |   |                         | 58,683  |   |       |   | 33     |     |   |   | 0.23 | % |   |   | 8,760 |   |   |   | 2 |   |   |   | 0.09 | % |
| Total interest-earning assets                           |   |                         | 565,027 |   |       |   | 6,604  |     |   |   | 4.76 | % |   |   | 571,456 |   |   |   | 7,844 |   |   |   | 5.61 | % |
|                                                    |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total non-interest earning assets                       |   |                         | 47,471  |   |       |   |   |     |   |   |   |   |   |   | 41,737 |   |   |   |   |   |   |   |   |   |
|                                                    |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total assets                                            |   | $                            | 612,498 |   |       |   |   |     |   |   |   |   |   | $ | 613,193 |   |   |   |   |   |   |   |   |   |
|                                                    |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                    |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Liabilities & Net Worth:                            |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                    |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                           |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Now                                                     |   | $                            | 55,994  |   |       | $      | 79     |     |   |   | 0.57 | % |   | $ | 48,185 |   |   | $ | 95 |   |   |   | 0.80 | % |
| Money Market                                            |   |                         | 54,041  |   |       |   | 70     |     |   |   | 0.53 | % |   |   | 43,930 |   |   |   | 133 |   |   |   | 1.23 | % |
| Savings                                                 |   |                         | 35,638  |   |       |   | 34     |     |   |   | 0.39 | % |   |   | 31,204 |   |   |   | 53 |   |   |   | 0.69 | % |
| Time                                                    |   |                         | 198,172 |   |       |   | 591    |     |   |   | 1.21 | % |   |   | 222,694 |   |   |   | 1,401 |   |   |   | 2.55 | % |
|     Total interest-bearing deposits |   |                         | 343,845 |   |       |   | 774    |     |   |   | 0.91 | % |   |   | 346,013 |   |   |   | 1,682 |   |   |   | 1.97 | % |
| Short-term borrowings (5)                               |   |                         | 34,822  |   |       |   | 60     |     |   |   | 0.70 | % |   |   | 43,530 |   |   |   | 165 |   |   |   | 1.54 | % |
| Borrowed funds                                          |   |                         | 119,286 |   |       |   | 594    |     |   |   | 2.02 | % |   |   | 120,451 |   |   |   | 1,220 |   |   |   | 4.11 | % |
| Junior Subordinated Debentures                          |   |                         | 7,902   |   |       |   | 174    |     |   |   | 8.93 | % |   |   | 16,496 |   |   |   | 182 |   |   |   | 4.47 | % |
| Total interest-earning liabilities                      |   |                         | 505,855 |   |       |   | 1,602  |     |   |   | 1.28 | % |   |   | 526,490 |   |   |   | 3,249 |   |   |   | 2.50 | % |
|                                                    |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total non-interest bearing liabilities:                 |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand deposits and escrow accounts                     |   |                         | 37,379  |   |       |   |   |     |   |   |   |   |   |   | 33,529 |   |   |   |   |   |   |   |   |   |
| Other liabilities                                       |   |                         | 4,447   |   |       |   |   |     |   |   |   |   |   |   | 3,406 |   |   |   |   |   |   |   |   |   |
|                                                    |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total liabilities                                       |   |                         | 547,681 |   |       |   |   |     |   |   |   |   |   |   | 563,425 |   |   |   |   |   |   |   |   |   |
|                                                    |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders' equity                                    |   |                         | 64,817  |   |       |   |   |     |   |   |   |   |   |   | 49,768 |   |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders' equity              |   | $                            | 612,498 |   |       |   |   |     |   |   |   |   |   | $ | 613,193 |   |   |   |   |   |   |   |   |   |
|                                                    |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Net interest income                   |   |                         |    |   |       | $      | 5,002  |     |   |   |   |   |   |   |   |   |   | $ | 4,595 |   |   |   |   |   |
|                                                    |   |                         |    |   |       |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate spread                                    |   |                         |    |   |       |   |   |     |   |   | 3.48 | % |   |   |   |   |   |   |   |   |   |   | 3.11 | % |
| Net yield on interest earning assets (6)                |   |                         |    |   |       |   |   |     |   |   | 3.61 | % |   |   |   |   |   |   |   |   |   |   | 3.30 | % |

| (1) | Yields are stated on a fully tax-equivalent basis using a 30.84% tax rate.                                                                                                            |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Non-accruing loans are included in the computation of average balances, but unpaid interest on nonperforming loans has not been included for purposes of determining interest income. |
| (3) | Includes Loans Held-for-Sale.                                                                                                                                                         |
| (4) | Short term investments include FHLB overnight deposits and other interest-bearing deposits.                                                                                           |
| (5) | Short-term borrowings include securities sold under repurchase agreements and sweep accounts.                                                                                         |
| (6) | The net yield on interest-earning assets is net interest income divided by total interest-earning assets.                                                                             |

| NORTHEAST BANCORP AND SUBSIDIARY                        |   |                        |    |   |       |   |   |
|---------------------------------------------------------|--------|-----------------------------|---------|--------|------------|--------|--------|
| CONSOLIDATED AVERAGE BALANCES AND ANNUALIZED YIELDS     |   |                        |    |   |       |   |   |
| (Unaudited)                                             |   |                        |    |   |       |   |   |
| (Dollars in thousands)                                  |   |                        |    |   |       |   |   |
|                                                    |   | Nine months ended March 31, |    |
|                                                    |   | 2011                        |    |   | 2010       |   |
|                                                    |   |                        |    |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                    |   |                        |    |   |       |   |   | Average |   |   |   |   |   |   |   |   | Average |   |
|                                                    |   | Average                     |    |   |       |   |   | Yield/ |   |   | Average |   |   |   |   |   | Yield/ |   |
|                                                    |   | Balance                     |    |   | Y-T-D Inc. |   |   | Rate (1) |   |   | Balance |   |   | Y-T-D Inc. |   |   | Rate |   |
| Assets:                                                 |   |                        |    |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                    |   |                        |    |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest earning-assets:                                |   |                        |    |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Securities                                              |   | $                           | 155,761 |   |       | $      | 4,065  |   |   |   | 3.59 | % |   | $ | 162,345 |   |   | $ | 5,573 |   |   |   | 4.70 | % |
| Loans (2)(3)                                            |   |                        | 375,951 |   |       |   | 17,055 |   |   |   | 6.04 | % |   |   | 393,138 |   |   |   | 18,034 |   |   |   | 6.11 | % |
| Bank Regulatory Stock                                   |   |                        | 5,486   |   |       |   | 31     |   |   |   | 0.75 | % |   |   | 5,486 |   |   |   | 27 |   |   |   | 0.66 | % |
| Short-term investments (4)                              |   |                        | 45,930  |   |       |   | 73     |   |   |   | 0.21 | % |   |   | 8,312 |   |   |   | 10 |   |   |   | 0.16 | % |
| Total interest-earning assets                           |   |                        | 583,128 |   |       |   | 21,224 |   |   |   | 4.88 | % |   |   | 569,281 |   |   |   | 23,644 |   |   |   | 5.57 | % |
|                                                    |   |                        |    |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total non-interest earning assets                       |   |                        | 41,166  |   |       |   |   |   |   |   |   |   |   |   | 40,795 |   |   |   |   |   |   |   |   |   |
|                                                    |   |                        |    |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total assets                                            |   | $                           | 624,294 |   |       |   |   |   |   |   |   |   |   | $ | 610,076 |   |   |   |   |   |   |   |   |   |
|                                                    |   |                        |    |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                    |   |                        |    |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Liabilities & Net Worth:                            |   |                        |    |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                    |   |                        |    |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                           |   |                        |    |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Now                                                     |   | $                           | 54,549  |   |       | $      | 265    |   |   |   | 0.65 | % |   | $ | 47,491 |   |   | $ | 276 |   |   |   | 0.77 | % |
| Money Market                                            |   |                        | 55,331  |   |       |   | 285    |   |   |   | 0.69 | % |   |   | 42,099 |   |   |   | 391 |   |   |   | 1.24 | % |
| Savings                                                 |   |                        | 37,413  |   |       |   | 135    |   |   |   | 0.48 | % |   |   | 26,886 |   |   |   | 115 |   |   |   | 0.57 | % |
| Time                                                    |   |                        | 196,867 |   |       |   | 2,927  |   |   |   | 1.98 | % |   |   | 229,401 |   |   |   | 4,725 |   |   |   | 2.74 | % |
|     Total interest-bearing deposits |   |                        | 344,160 |   |       |   | 3,612  |   |   |   | 1.40 | % |   |   | 345,877 |   |   |   | 5,507 |   |   |   | 2.12 | % |
| Short-term borrowings (5)                               |   |                        | 47,711  |   |       |   | 443    |   |   |   | 1.24 | % |   |   | 42,232 |   |   |   | 486 |   |   |   | 1.53 | % |
| Borrowed funds                                          |   |                        | 119,924 |   |       |   | 3,074  |   |   |   | 3.41 | % |   |   | 118,529 |   |   |   | 3,752 |   |   |   | 4.22 | % |
| Junior Subordinated Debentures                          |   |                        | 13,579  |   |       |   | 520    |   |   |   | 5.10 | % |   |   | 16,496 |   |   |   | 587 |   |   |   | 4.74 | % |
| Total interest-earning liabilities                      |   |                        | 525,374 |   |       |   | 7,649  |   |   |   | 1.94 | % |   |   | 523,134 |   |   |   | 10,332 |   |   |   | 2.63 | % |

| (1) | Yields are stated on a fully tax-equivalent basis using a 30.84% tax rate.                                                                                                            |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Non-accruing loans are included in the computation of average balances, but unpaid interest on nonperforming loans has not been included for purposes of determining interest income. |
| (3) | Includes Loans Held-for-Sale.                                                                                                                                                         |
| (4) | Short term investments include FHLB overnight deposits and other interest-bearing deposits.                                                                                           |
| (5) | Short-term borrowings include securities sold under repurchase agreements and sweep accounts.                                                                                         |
| (6) | The net yield on interest-earning assets is net interest income divided by total interest-earning assets.                                                                             |