MaineBusiness.com

Berwick and Lewiston, Maine (November 4, 2009)—Northeast Bank Insurance Group, Inc. announces that it’s newest agency, Goodrich Insurance Associates, located at 70 Sullivan Street in Berwick, has relocated to the company’s Spence & Mathews Agency at its 4 Sullivan Square location, just down the street effective November 2nd.

Northeast Bank Insurance Group acquired both Spence & Mathews and Goodrich Agency as part of a larger strategy to grow the company’s insurance business.

“Since acquiring Goodrich, it was always our intent to relocate the agency employees to our Sullivan Square offices. It’s been a smooth transition and we’re glad to finally have our Berwick team all under one roof,” said Craig Linscott, SVP for Northeast Bank and former owner of Spence & Mathews.

The new contact information for the Goodrich team is as follows:

Physical Address:
4 Sullivan Square
Berwick, Maine 03901
Tel 207.698.1513
Fax 207.698.4324

Mailing Address:
PO Box 715
Berwick, ME 03901

Northeast has a long list of acquisitions that they’ve completed in the past couple of years, including Spence & Mathews in Berwick, Palmer Insurance in Turner, Sturtevant & Ham in Livermore Falls, The Hartford Agency in Lewiston, Hyler Agency in Thomaston, Southern Maine Insurance Agency in Scarborough and Russell Agency in Madison. Northeast Bank Insurance Group continues to grow its book of business now operating 14 insurance offices throughout western, central and southern Maine in Anson, Auburn, Augusta, Bethel, Berwick, Jackman Livermore Falls, Mexico, Rangeley, Scarborough, South Paris, Thomaston, and Turner and in New Hampshire in Rochester.



About Northeast Bank Insurance Group, Inc., and Northeast Bank
Northeast Bank Insurance Group, Inc., a wholly owned subsidiary of Northeast Bank, headquartered in Rangeley, Maine, provides comprehensive insurance and financial services with an emphasis on needs-based advice to meet the demands of its consumer and business customers. The full spectrum of insurance services includes personal, business and financial coverage.

Northeast Bank, a leader in delivering one-stop shopping for financial services, is headquartered in Lewiston, Maine and is a wholly-owned subsidiary of Northeast Bancorp (NASDAQ: NBN). The Company has approximately $604 million in assets as of September 30, 2009 and derives its income from a combination of traditional banking services and non-traditional financial products and services including insurance and investments; operating eleven traditional bank branches, fourteen insurance offices and three investment centers that serve seven counties in Maine and two in New Hampshire. Information regarding Northeast Bank Insurance Group, Inc. and Northeast Bank can be found on its website at www.northeastbank.com or by contacting 1-800-284-5989.
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