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July 28, 2010

Shareholders approve Northeast Bank merger

By Tux Turkel tturkel@mainetoday.com
Staff Writer

Northeast Bancorp of Lewiston, the holding company for Maine-based Northeast Bank, today announced that the shareholders of Northeast approved the merger of FHB Formation LLC with and into Northeast.

The number of shares of Northeast common stock voting to approve the merger agreement represented roughly 75 percent of the total number of shares outstanding and entitled to vote.

Jim Delamater, Northeast's president and chief executive officer had this comment about the merger: “We are very pleased that 75 percent of our shareholders approved the transaction. This vote is an important step in ensuring Northeast’s future success, providing even greater opportunities for our customers, employees, shareholders and our region in the years ahead.”

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