Date of Report (Date of earliest event reported):           January 23, 2006           

(Exact Name of Registrant as Specified in its Charter)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.

• Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
• Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
• Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
• Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240. Rule 13e-4(c)).

The information contained herein, including the exhibit attached hereto, is furnished pursuant to Item 7.01 of this Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section. Further, the information in this report (including the exhibits hereto) are not to be incorporated by reference into any of the Company's filings with the Securities and Exchange Commission, whether filed prior to or after the furnishing of these certificates, regardless of any general or specific incorporation language in such filing.

The press release referred to under Item 7.01 above and filed as Exhibit 99.1 hereto included disclosure regarding the earnings and financial results of Northeast Bancorp for the second quarter ended December 31, 2005 and declaration of a dividend. The full text of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information contained herein, including the exhibit attached hereto, is furnished pursuant to Item 2.02 of this Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section. Further, the information in this report (including the exhibits hereto) are not to be incorporated by reference into any of the Company's filings with the Securities and Exchange Commission, whether filed prior to or after the furnishing of these certificates, regardless of any general or specific incorporation language in such filing.

[Rest of Page Intentionally Blank. Signature on Following Page.]

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

LEWISTON, Maine, (January XX, 2006)-Northeast Bancorp (AMEX: NBN) announced that earnings for the second quarter ended December 31, 2005 were $1,071,196, or $0.42 per diluted share, representing an increase of 40% over earnings for the same period last year which were $764,882, or $0.30 per diluted share. The principal elements driving the increase in net income during the quarter were increases in net interest income and other noninterest income and a decrease in noninterest expense. Earnings for the six-month period ended December 31, 2005 were 2,113, 293, or $0.83 per diluted share, representing an increase of 23% over earnings for the same period last year which were $1,720, 997, or $0.67 per diluted share. The principal elements driving the increase in net income during the six-month period were increases in net interest income and other noninterest income, offsetting an increase in noninterest expense.

In addition, the Board of Directors declared a dividend of $0.09 per share, payable on February 24, 2006 to shareholders of record as of the close of business on February 3, 2006. Northeast Bancorp trades on the American Stock Exchange with approximately 2.5 million shares outstanding and had a book value of approximately $16.11 per share as of December 31, 2005. The Company remains well-capitalized and committed to its long-term objectives of maintaining sufficient levels of capital to continue providing a fair dividend return, to repurchase its shares when appropriate, and to support the overall growth of the franchise.

"We experienced a successful quarter and are pleased that our overall operating results are in line with our expectations," said Jim Delamater, President and CEO. "Northeast maintains an interest rate risk position that is slightly asset sensitive, which enabled us to derive short term benefits from the recent series of interest rate hikes. In addition, we continue to experience solid growth in selected areas throughout the organization."

The Company believes that this growth is due to its ability to deliver a broad array of financial products and services, specifically through insurance and financial planning activities. Revenue, for the period ended December 31, 2005, from non-interest income, which includes these activities, was $3,110,038. This represents an increase of 20% over revenues for the same period last year, which were $2,591,789, and reflected the Company's purchase of the Solon-Anson Insurance Agency in September 2004.

Delamater added, "We are proud to be an independent Maine-based community bank that is able to deliver local service with local decisions and has an overall understanding of the needs of our customers, communities, and state. We are very appreciative of the support of our customers, employees, and shareholders. We anticipate continued growth in earnings per share and remain focused on maximizing shareholder value."

Northeast Bancorp is the holding company for the Maine-based Northeast Bank, founded in 1872. Northeast Bank, together with its wholly owned subsidiary, Northeast Bank Financial Group, Inc. and through other affiliations, provides retail and business customers with a broad array of financial services, and derives its income from a combination of traditional banking services and non-traditional financial products and services. These non-traditional products and services include trust, investment, and insurance products, including life, disability, property, and casualty insurance. All are offered via a "needs-based" consultative selling philosophy that requires employees to understand customers' financial goals and objectives when finding the most appropriate product or service match. The Company operates 21 retail outlets including 12 retail banking branches, eight insurance offices, and one financial center.

This news release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Northeast Bancorp. Forward-looking statements are subject to various factors which could cause actual results to differ materially from these estimates. These factors include, but are not limited, to, changes in general economic conditions, interest rates, deposit flows, loan demand, competition, legislation or regulation and accounting principles, policies or guidelines, as well as other economic, competitive, governmental, regulatory and accounting and technological factors affecting Northeast Bancorp's operations. In addition, acquisitions may result in large one-time charges to income, may not produce revenue enhancements or cost savings at levels or within time frames originally anticipated and may result in unforeseen integration difficulties. Investors are encouraged to access Northeast Bancorp's periodic reports filed with the Securities and Exch ange Commission for financial and business information regarding Northeast Bancorp, including information which could affect Northeast Bancorp's forward-looking statements.

Northeast Bank, a Member FDIC and Equal Housing Lender, is a wholly owned subsidiary of Northeast Bancorp (AMEX: NBN). Northeast Bank Insurance Group, Inc., a wholly owned subsidiary of Northeast Bank, is the insurance services arm of Northeast Bancorp. Customer access to securities is provided through Commonwealth Financial Network, Member NASD/SIPC. Important information-Securities, annuities, and insurance products are not deposit products and are not FDIC insured, and they are subject to investment risk, including the possible loss of principal, and are not an obligation of or guaranteed by the Bank.