Key Points
PMC FIG Opportunities initiated a 32,745-share stake in Northeast Bank during the fourth quarter.
The quarter-end position value increased by $3.40 million, reflecting both the new purchase and price movement during the period.
The new Northeast Bank position represented 5.35% of total reportable assets under management at quarter end.
On February 17, 2026, PMC FIG Opportunities disclosed a new position in Northeast Bank(NASDAQ:NBN), acquiring 32,745 shares worth $3.40 million at quarter-end.
What happened
According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, PMC FIG Opportunities initiated a new position in Northeast Bank, acquiring 32,745 shares. The quarter-end value of the position stood at $3.40 million.
What else to know
- This was a new position for the fund, accounting for 5.35% of 13F reportable assets under management as of December 31, 2025.
- Top five holdings following the filing:
- NASDAQ:CCB: $4.95 million (7.8% of AUM)
- NASDAQ:TBBK: $4.78 million (7.5% of AUM)
- NYSE:SF: $3.94 million (6.2% of AUM)
- NASDAQ:NBN: $3.40 million (5.3% of AUM)
- NYSE:BAC: $3.24 million (5.1% of AUM)
- As of February 17, 2026, shares of Northeast Bank were priced at $120.52, up 15% over the past year.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2/17/26) | $120.52 |
| Market capitalization | $961.47 million |
| Revenue (TTM) | $208.71 million |
| Net income (TTM) | $87.18 million |
Company snapshot
- Northeast Bank offers a range of deposit products, residential and commercial real estate loans, commercial and industrial loans, consumer loans, and small business administration loans, as well as digital and in-person banking services.
- The firm serves individual and corporate customers, with a focus on communities in Western, Central, and Southern Maine through a network of nine branches.
Northeast Bank is a regional financial institution that differentiates itself through a diversified loan portfolio and a blend of traditional branch banking and digital services. Its strategy centers on serving local businesses and individuals, leveraging longstanding community relationships and a focused regional footprint.
What this transaction means for investors
Northeast Bank isn’t a traditional sleepy community lender. It’s a scaled national loan buyer with local deposits, and that makes this move particularly interesting.
In January, the bank reported $20.7 million in quarterly net income, or $2.47 per diluted share. For the six months ended December 31, net income reached $43.3 million, up from $39.5 million a year earlier. Total loans climbed to $4.35 billion, up 15.8% from June 30, fueled by nearly $896 million in quarterly loan volume. Net interest margin, meanwhile, came in at 4.49% for the quarter.
Within a portfolio already concentrated in regional and specialty banks like CCB and TBBK, allocating 5.35% of assets to NBN suggests a preference for high-yielding national lending platforms over branch-heavy models. Shares are up 15% over the past year, but book value per share has risen to $62.65 from $52.29, giving investors tangible growth alongside earnings.
For long-term investors, the thesis hinges on disciplined loan purchasing and credit control. If returns on purchased loans remain near recent levels and capital ratios stay strong, this is a compounding machine hiding inside a small-cap bank.
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Bank of America is an advertising partner of Motley Fool Money. Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
