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                                                                   EXHIBIT 23.1



                        CONSENT OF INDEPENDENT AUDITORS




We consent to the reference to our firm under the caption "Experts" and to the
use of our report dated July 30, 1999, in the Registration Statement (Form S-2)
and related Prospectus of Northeast Bancorp for the registration of $12,075,000
of preferred securities.



                                             /s/ Baker Newman & Noyes
Portland, Maine                              -----------------------------
October 7, 1999                                  Baker Newman & Noyes
                                                 Limited Liability Company