 Northeast Bank the Bank NBN, a Maine-based full-service bank, announced today that it has entered into a Loan Purchase and Sale Agreement the Loan Sale Agreement with The Loan Source, Inc. Loan Source and agreed to sell to Loan Source 457.6 million of loans originated by the Bank in connection with the Small Business Administrations Paycheck Protection Program PPP. After amortizing previously unamortized PPP loan origination fees, the Bank will realize a pre-tax gain of approximately 9.8 million in the current fiscal quarter as a result of the sale. In addition, the Bank will receive fee income on the loans sold until such time as the loans are forgiven or repaid. 