Northeast Bank (NBN) 10-Q 2010 Q2 Quarterly report

NORTHEAST BANCORP
Exhibit 11. Statement Regarding Computation of Per Share Earnings
	Three Months Ended		Three Months Ended
	December 31, 2009		December 31, 2008
EQUIVALENT SHARES:
Weighted Average Shares Outstanding		2,321,528		2,321,264
Total Diluted Shares		2,323,073		2,321,480
Net Income	$	649,313	$	293,575
Less:
Preferred Stock Dividend		52,837		11,363
Accretion of Preferred Stock		6,657		1,439
Amortization of issuance costs		1,300		136
Net income available to common stockholders	$	588,519	$	280,637
Basic Earnings Per Share	$	0.25	$	0.12
Diluted Earnings Per Share	$	0.25	$	0.12
	Six Months Ended		Six Months Ended
	December 31, 2009		December 31, 2008
EQUIVALENT SHARES:
Weighted Average Shares Outstanding		2,321,430		2,318,353
Total Diluted Shares		2,326,204		2,332,132
Net Income	$	1,144,982	$	362,690
Less:
Preferred Stock Dividend		105,675		11,363
Accretion of Preferred Stock		13,303		1,439
Amortization of issuance costs		2,600		136
Net income available to common stockholders	$	1,023,404	$	349,752
Basic Earnings Per Share	$	0.44	$	0.15
Diluted Earnings Per Share	$	0.44	$	0.15