Northeast Bank (NASDAQ:NBN) Q4 2024 Earnings Conference Call August 1, 2024 10:00 AM ET

Company Participants

Richard Wayne - President, CEO & Director
Richard Cohen - CFO
Patrick Dignan - COO & EVP

Conference Call Participants

David Minkoff - DCM Asset Management

Operator

Welcome to the Northeast Bank Fourth Quarter Fiscal Year 2024 Earnings Call. My name is Steven, and I will be your operator for today's call. This call is being recorded.

With us today from the bank is Rick Wayne, President and Chief Executive Officer; Richard Cohen, Chief Financial Officer; and Pat Dignan, Executive Vice President and Chief Operating Officer. Prior to the call, an investor presentation was uploaded to the bank's website, which we will reference in this morning's call. The presentation can be accessed at the Investor Relations section of northeastbank.com under Events and Presentations. You may find it helpful to download this investor presentation and follow along during the call. Also, this call will be available for rebroadcast on the website for future use. [Operator Instructions] As a remainder this conference is being recorded.

Please note that this presentation contains forward-looking statements about Northeast Bank. Forward-looking statements are based upon the current expectations of Northeast Bank's management and are subject to risks and uncertainties. Actual results may differ materially from those discussed in the forward-looking statements. Northeast Bank does not undertake any obligation to update any forward-looking statements.

I will now turn the call over to Rick Wayne. Mr. Wayne, you may begin.

Richard Wayne

Thank you. Good morning, everyone. Thank you for joining us on the call. During the call, I'm going to first give some -- go over some highlights for the quarter and the year, our view of what the year looked like. After I finished my comments, Richard Cohen is going to talk about funding and our ATM. And then Pat is going to talk about loan activity and share some thoughts on what we see in the market. And then as you've just heard, we'd be happy to answer any questions.

First, just some thoughts on the quarter and the year. We think it was a really strong year and a strong quarter. Almost in all of the metrics, one would look at, our loan volume was very strong. Our margins, our NIM was very strong. Asset quality held up really well. And of course, our return on equity at 7.46% for the year is impressive as is the ROA at just a little bit under 2%, 199% for the quarter and 198% for the year.