| FOR IMMEDIATE RELEASE  For More Information:                                                      |                                                      |
|-------------------------------------------------------------------------------------------------------------|------------------------------------------------------|
| Jim Delamater, President & CEONortheast Bank, 500 Canal Street, Lewiston, ME 04240www.northeastbank.com | 1-800-284-5989 ext. 3569jdelamater@northeastbank.com |

| Amounts in thousands except per share amounts        |   |               |   |
|------------------------------------------------------|--------|--------------------|--------|
|                                                 |   | Three Months Ended |   |
|                                                 |   | September 30,      |   |
|                                                 |   | 2009               |   |   | 2008 |   |
| Earnings excluding intangible Amortization           |   |               |   |   |   |   |
| Net income                                           |   | $                  | 496    |   |   | $ | 69 |   |
| Add back intangible expense, net of tax              |   |               | 121    |   |   |   | 127 |   |
| Adjusted net income                                  |   | $                  | 617    |   |   | $ | 196 |   |
|                                                 |   |               |   |   |   |   |   |   |
| Adjusted net income available to common shareholders |   | $                  | 556    |   |   | $ | 196 |   |
| Adjusted basic earnings per common share             |   | $                  | 0.24   |   |   | $ | 0.08 |   |
| Adjusted diluted earnings per common share           |   | $                  | 0.24   |   |   | $ | 0.08 |   |

| NORTHEAST BANCORP                                                    |   |
|----------------------------------------------------------------------|--------|
| (Dollars in Thousands, Except Per Share and Shares Outstanding Data) |   |
| (Unaudited)                                                          |   |
|                                                                 |   |   |   |   |   |   |   |   |   |
|                                                                 |   |  Three Months Ended |   |   |   |   |
|                                                                 |   | September 30, |   |   | % |   |
|                                                                 |   | 2009 |   |   | 2008 |   |   | Change |   |
| Selected financial information                                       |   |   |   |   |   |   |   |   |   |
|                                                                 |   |   |   |   |   |   |   |   |   |
| Income statement data:                                               |   |   |   |   |   |   |   |   |   |
|                                                                 |   |   |   |   |   |   |   |   |   |
| Interest income                                                      |   | $ | 7,890 |   |   | $ | 8,595 |   |   |   | -8 | % |
| Interest expense                                                     |   |   | 3,664 |   |   |   | 4,554 |   |   |   | -20 | % |
| Net interest income                                                  |   |   | 4,226 |   |   |   | 4,041 |   |   |   | 5 | % |
| Provision for loan losses                                            |   |   | 555 |   |   |   | 521 |   |   |   | 7 | % |
| Net interest income after provision for loan losses                  |   |   | 3,671 |   |   |   | 3,520 |   |   |   | 4 | % |
|                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain on sale of loans                                                |   |   | 391 |   |   |   | 111 |   |   |   | 252 | % |
| Gain (loss) on securities, net                                       |   |   | 28 |   |   |   | (108 | ) |   |   | 126 | % |
| Investment brokerage income                                          |   |   | 453 |   |   |   | 421 |   |   |   | 8 | % |
| Insurance agency income                                              |   |   | 1,584 |   |   |   | 1,517 |   |   |   | 4 | % |
| Other noninterest income                                             |   |   | 627 |   |   |   | 620 |   |   |   | 1 | % |
| Noninterest Income                                                   |   |   | 3,083 |   |   |   | 2,561 |   |   |   | 20 | % |
| Noninterest expense                                                  |   |   | 6,106 |   |   |   | 6,089 |   |   |   | 0 | % |
| Operating income (loss) before income tax                            |   |   | 648 |   |   |   | (8 | ) |   |   | 8200 | % |
| Income tax expense (benefit)                                         |   |   | 152 |   |   |   | (77 | ) |   |   | 297 | % |
| Net income                                                           |   | $ | 496 |   |   | $ | 69 |   |   |   | 619 | % |
| Net income available to common stockholders                          |   | $ | 435 |   |   | $ | 69 |   |   |   | 530 | % |
|                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Per share data:                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic earnings per common share                                      |   | $ | 0.19 |   |   | $ | 0.03 |   |   |   | 533 | % |
| Diluted earnings per common share                                    |   | $ | 0.19 |   |   | $ | 0.03 |   |   |   | 533 | % |
| Weighted average shares outstanding:                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                                |   |   | 2,321,332 |   |   |   | 2,315,443 |   |   |   | 0 | % |
| Diluted                                                              |   |   | 2,328,432 |   |   |   | 2,324,916 |   |   |   | 0 | % |
|                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Book value per common share                                          |   | $ | 19.36 |   |   | $ | 17.80 |   |   |   |   |   |
| Tangible book value per common share                                 |   | $ | 13.93 |   |   | $ | 12.36 |   |   |   |   |   |
|                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Net interest margin                                                  |   |   | 3.01 | % |   |   | 2.92 | % |   |   |   |   |
| Net interest spread                                                  |   |   | 2.83 | % |   |   | 2.69 | % |   |   |   |   |
| Return on average assets (annualized)                                |   |   | 0.33 | % |   |   | 0.05 | % |   |   |   |   |
| Return on equity (annualized)                                        |   |   | 4.10 | % |   |   | 0.68 | % |   |   |   |   |
| Tier I leverage ratio (Bank)                                         |   |   | 7.88 | % |   |   | 6.92 | % |   |   |   |   |
| Tier I risk-based capital ratio (Bank)                               |   |   | 11.36 | % |   |   | 9.62 | % |   |   |   |   |
| Total risk-based capital ratio (Bank)                                |   |   | 12.61 | % |   |   | 10.97 | % |   |   |   |   |
| Efficiency ratio                                                     |   |   | 84 | % |   |   | 92 | % |   |   |   |   |
| Nonperforming loans                                                  |   |   | 9,357 |   |   |   | 6,561 |   |   |   |   |   |
| Total nonperforming assets                                           |   |   | 9,891 |   |   |   | 7,040 |   |   |   |   |   |
| Nonperforming loans as a % of total loans                            |   |   | 2.40 | % |   |   | 1.61 | % |   |   |   |   |
| Nonperforming assets as a % of total assets                          |   |   | 1.64 | % |   |   | 1.16 | % |   |   |   |   |
|                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                 |   | September 30, |   |   | % |   |
|                                                                 |   |   | 2009 |   |   |   | 2008 |   |   | Change |   |
| Balance sheet highlights:                                            |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Available-for-sale securities, at fair value                         |   | $ | 160,231 |   |   | $ | 143,445 |   |   |   | 12 | % |
| Loans held for sale                                                  |   |   | 3,564 |   |   |   | 1,046 |   |   |   | 241 | % |
| Loans                                                                |   |   | 390,244 |   |   |   | 408,759 |   |   |   | -5 | % |
| Allowance for loan losses                                            |   |   | 5,785 |   |   |   | 5,656 |   |   |   | 2 | % |
| Goodwill & intangibles                                           |   |   | 12,616 |   |   |   | 12,640 |   |   |   | 0 | % |
| Total assets                                                         |   |   | 604,431 |   |   |   | 605,170 |   |   |   | 0 | % |
|                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits:                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| NOW and money market                                                 |   |   | 86,111 |   |   |   | 69,696 |   |   |   | 24 | % |
| Savings                                                              |   |   | 25,128 |   |   |   | 20,123 |   |   |   | 25 | % |
| Certificates of deposits                                             |   |   | 224,660 |   |   |   | 216,291 |   |   |   | 4 | % |
| Brokered time deposits                                               |   |   | 10,615 |   |   |   | 12,603 |   |   |   | -16 | % |
| Noninterest-bearing deposits                                         |   |   | 34,393 |   |   |   | 37,879 |   |   |   | -9 | % |
| Total deposits                                                       |   |   | 380,907 |   |   |   | 356,592 |   |   |   | 7 | % |
|                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Borrowings                                                           |   |   | 171,226 |   |   |   | 204,393 |   |   |   | -16 | % |
| Stockholders' equity                                                 |   |   | 49,172 |   |   |   | 41,324 |   |   |   | 19 | % |
|                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Shares outstanding                                                   |   |   | 2,321,332 |   |   |   | 2,321,182 |   |   |   | 0 | % |

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