Found Money.

Carol Coultas

Source

Mainebiz

Date

9-30-2013

Pages

1, 14-16.

Abstract

Piece on Northeast Bank and CEO Richard Wayne. Wayne's expertise in the loan acquisition process has brought healthy returns to the bank, which had been stagnating until Wayne and other investors bought a controlling interest in it in 2010. In addition to focusing on loan acquistion, the new management decided to sell off the bank's insurance and investment divisions. So far, the new strategy seems to be paying off, as reflected in increased stock prices, although Wayne still has goals to increase deposits and originate loans.

Subjects

Banks and banking, Northeast Bank, Lewiston, Wayne, Richard

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