Northeast Bancorp : Thomas Hurdman and Cesar Jimenez Join Northeast Bank's Small Business Lending Division

Lewiston, Maine

Northeast Bank (the 'Bank') announced today that Florida residents Thomas Hurdman and Cesar Jimenez have joined its national Small Business Administration ('SBA') Lending Division both as Vice President, SBA Business Development. The team is led by Jonathan Smith, Senior Vice President, Director of SBA Lending.

'We are excited Thomas and Cesar have joined our SBA team in order to provide financing to small businesses across the nation,' said Rick Wayne, President and CEO. 'Small businesses are critical to job creation and prosperity and we are pleased to be offering new capital to help them grow. Their experience in developing effective SBA lending solutions will be instrumental in helping the bank support the needs of current and prospective small business customers in the years ahead.'

Thomas Hurdman, based in Jacksonville, joins the bank from Celtic Bank where he was Vice President, Business Development Officer. Prior to this, he served as Vice President, Business Development Officer for Fidelity Bank. Thomas brings over 28 years of experience in the financial services industry, with a focus on commercial banking and capital markets.

Cesar Jimenez, based in Coconut Creek, joins the bank from Jimenez & Company, where he was the Director, Business Advisory Services. Previously he served as Vice President, Business Development for Sun American Bank. Cesar is bilingual in English and Spanish, and received his Bachelor's degree from Seton Hall University.

About Northeast Bank
Northeast Bancorp (NASDAQ: NBN) is the holding company for Northeast Bank, a full-service bank headquartered in Lewiston, Maine. We offer traditional banking services through the Community Banking Division, which operates ten full-service branches that serve customers located in western, central, and southern Maine. From our Maine and Boston locations, we also lend throughout the New England area. Our Loan Acquisition and Servicing Group (LASG) purchases and originates commercial loans on a nationwide basis. In addition, our Small Business Lending division supports the needs of growing businesses nationally. ableBanking, a division of Northeast Bank, offers savings products to consumers online. Information regarding Northeast Bank can be found on its website at www.northeastbank.com.