PPP lender · derived table
Northeast Bank
Profile → Northeast Bank
Northeast Bank appears in the SBA PPP loan-level file with 35,452 loans and $3.5 billion in approved dollars, an average of $98,358 a loan. That is 0.31% of the 11,468,171 loans in our per-lender totals (39 fewer than the 11,468,210 in the SBA file). This page combines 2 SBA lender records that share the name Northeast Bank; they are 2 separate institutions, in 2 states (bank regulators’ 2020–21 call-report rosters). The figures on this page add those institutions together, so it does not rank them as one lender. Borrowers on those loans reported 402,052 jobs, 11.3 a loan, and $8,673 of approved dollars for each reported job.
Totals
| Loans | 35,452 |
| Approved dollars | $3,486,989,633.84 |
| Average loan | $98,358.05 |
| Share of program loans | 0.3091% |
| Rank by approved dollars | Not ranked: the name covers separate institutions |
| Rank by loan count | Not ranked: the name covers separate institutions |
| Jobs reported | 402,052 |
| Jobs per loan | 11.3407 |
| Approved dollars per reported job | $8,672.98 |
| Borrowers | 33,875 |
| Loans per borrower | 1.047 |
| Lender type (archive classification) | Fintech / BaaS bank |
| Modeled processing fees | $166,667,797.89 |
| Modeled fees, 2020 first-draw loans | $23,706,051.59 |
| Modeled fees, 2021 first-draw loans | $19,349,120.42 |
| Modeled fees, 2021 second-draw loans | $123,612,625.88 |
| Modeled fee per loan | $4,701.22 |
| Rank by modeled fees | Not ranked: the name covers separate institutions |
Another bank with the same name
The SBA file uses this name for more than one bank. 773 loans ($155.5 million) that the SBA file lists under this name at lender location 38406 (Minneapolis, MN) were made by Northeast Bank of Minneapolis (FDIC certificate 16659), a different bank from Northeast Bank of Lewiston, Maine, whose loans are at location 29599; 767 of the Minneapolis loans went to borrowers in Minnesota.
These loans are counted in the totals above.
The two banks named Northeast Bank
SBA's file gives each loan an originating-lender location ID. Matching those IDs by name, state and city to bank regulators' 2020–21 call-report rosters assigns them to two banks, each with its own page. Loans, dollars, jobs and fees add up to the combined row. Borrowers do not: a borrower with loans from two of these banks counts once in the combined row and once at each bank.
| Bank (headquarters) | FDIC certificate | Loans | Approved dollars | Jobs reported | Borrowers | Modeled fees |
|---|---|---|---|---|---|---|
| Lewiston, ME | 19690 | 34,679 | $3,331,509,186.58 | 383,824 | 33,166 | $161,479,816.49 |
| Minneapolis, MN | 16659 | 773 | $155,480,447.26 | 18,228 | 709 | $5,187,981.41 |
| All records under the name | 35,452 | $3,486,989,633.84 | 402,052 | 33,875 | $166,667,797.89 |
Named in the archive
11 pages in the archive carry this name in a title or description. The match is on the page title and description, not a finding about the lender's role in the case.
Cases
Each case below is listed because a filing in it carries this lender's name in its title or description; the listing is not a finding against the lender.
- United States v. Eric Dean Sheppard — S.D. Fla., No. 1:22-cr-20290-BB1 filing listed below
Filings and documents
| Date | Page | Section |
|---|---|---|
| Northeast Bank Announces Sale of Paycheck Protection Loans | Source documents | |
| Board of Directors — Northeast Bank | Source documents | |
| NEWITY Now Offering SBA 7(a) Loans up to $250,000 (September 13, 2022) | Source documents | |
| Nineteen months after PPP's fade, a Maine bank reaps a windfall | Source documents | |
| Northeast Bank Announces Sale of Paycheck Protection Program Loans (June 25, 2020) | Source documents | |
| Northeast Bank Announces Sale of Paycheck Protection Program Loans | Source documents | |
| Northeast Bank Announces Sale of Paycheck Protection Program Loans | Source documents | |
| Northeast Bank Reports Fourth Quarter Results, Record Annual Earnings and Declares Dividend (July 28, 2021) | Source documents | |
| Small-business loan servicer pivots away from PPP | Source documents | |
| Small-business loan servicer pivots away from PPP | Source documents | |
| 2025-02-25 | Transcript of Trial Day 6 as to Eric Dean Sheppard held on 12/5/2023 — USA v. Sheppard (Dkt. 312, S.D. Fla.) | Court filings |
Data and method
Totals come from SBA's PPP loan-level file (FOIA release of 2024-09-30); ranks are among its 4,688 named originating lenders. Modeled fees are computed loan by loan from SBA's published fee schedule, because SBA never published what it paid each lender. Jobs are self-reported; dollars are approved, not disbursed; the totals leave out 39 source rows. The per-lender totals page has the full method.