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Thursday, 10 May 2018

Northeast Bank Bucks Trend, Aims to Expand Commercial Real Estate Lending

Northeast Bank, a Lewiston, Maine, bank with an active presence in the commercial real estate lending world, expects to fund some $250 million of property loans this year. That would be an increase of more than 10 percent from the $220 million it originated last year.

Commercial Real Estate Direct Staff Report

Northeast Bank, a Lewiston, Maine, bank with an active presence in the commercial real estate lending world, expects to fund some $250 million of property loans this year.

That would be an increase of more than 10 percent from the $220 million it originated last year and is driven by the healthy returns it gets from its loans. It would be a contrast to banks in general, which have put the brakes on their commercial real estate lending efforts. While industry-wide lending volumes are still growing, the pace of growth last year slowed by 33 percent, according to the Trepp Bank Navigator.

During the first quarter, Northeast Bank originated $73 million of commercial real estate loans, which provide it with a 7.3 percent yield - not...


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