NORTHEAST BANCORP (NASDAQ:NBN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 6, 2017, Northeast Bancorp (the “Company”) announced the appointment of Jean-Pierre L. Lapointe as Chief Financial Officer and Treasurer of the Company, effective November 6, 2017. Mr. Lapointe will succeed Interim Chief Financial Officer Brian Pinheiro, who will retain his responsibilities as the Company’s Chief Risk Officer.
Mr.Lapointe, 35, has worked at Wolf & Company, P.C. since 2004, most recently serving in the audit practice as Senior Audit Manager since 2013. Mr.Lapointe is a certified public accountant and received a B.S. and a M.S. in Accountancy from Bentley University and Western New England University, respectively.
to a letter agreement entered into between the Company and Mr.Lapointe in connection with his employment as the Company’s Chief Financial Officer and Treasurer, Mr.Lapointe will receive an annual base salary of $225,000, a bonus of $30,000 with respect to the first 12 months of employment, and an award of 2,000 shares of restricted Company voting common stock that will vest in three equal annual installments beginning on the third anniversary of the grant date. In addition, Mr.Lapointe and Northeast Bank, a wholly-owned subsidiary of the Company, entered into Northeast Bank’s standard form of confidential information, non-solicitation and cooperation agreement.
Mr.Lapointe is not related by blood, marriage or adoption to any of the Company’s directors or other executive officers. There are no related person transactions for which disclosure would be required to Item 404(a)of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended, between the Company and Mr.Lapointe.
Item 9.01. Financial Statements and Exhibits
99.1 Press Release dated November 6, 2017
NORTHEAST BANCORP /ME/ ExhibitEX-99.1 2 ex_99675.htm EXHIBIT 99.1 ex_99675.htm Exhibit 99.1 FOR IMMEDIATE RELEASE For More Information: Chris Delamater,…To view the full exhibit click here
About NORTHEAST BANCORP (NASDAQ:NBN)
Northeast Bancorp is a bank holding company. The Company’s banking subsidiary is Northeast Bank (the Bank). The Company provides a range of banking services to individual and corporate customers throughout south-central and western Maine and conducts loan purchasing and origination activities nationwide through its subsidiary. The Company conducts its loan-related activities through three primary channels: the Community Banking Division, the Loan Acquisition and Servicing Group (LASG), and the Small Business Administration (SBA) Division. It offers various loans, such as commercial and industrial loans, consumer loans, multi-family and other commercial real estate loans, and residential loans. It originates residential mortgage loans secured by one- to four-family properties throughout Maine, southern New Hampshire, and Massachusetts. Its deposit products consist of demand deposit, negotiable order of withdrawal (NOW), money market, savings and certificate of deposit accounts.
