Northeast Bank (NBN) 10-Q 2003 Q3 Quarterly report

		Page 25
NORTHEAST BANCORP
Exhibit 11. Statement Regarding Computation of Per Share Earnings
	Three Months Ended	Three Months Ended
	March 31, 2003	March 31, 2002
	___________________	___________________
EQUIVALENT SHARES:
Weighted Average Shares Outstanding	2,645,827	2,594,666
Total Diluted Shares	2,687,411	2,669,016
Net Income	$    1,076,026	$      963,697
Basic Earnings Per Share	$             0.41	$            0.37
Diluted Earnings Per Share	$             0.40	$            0.36
	Nine Months Ended	Nine Months Ended
	March 31, 2003	March 31, 2002
	___________________	___________________
EQUIVALENT SHARES:
Weighted Average Shares Outstanding	2,646,954	2,583,312
Total Diluted Shares	2,686,567	2,660,058
Net Income	$    2,894,947	$    2,924,422
Basic Earnings Per Share	$             1.09	$             1.13
Diluted Earnings Per Share	$             1.08	$             1.10