LEWISTON, Maine, Nov. 19, 2007 (PRIME NEWSWIRE) -- The Board of Directors of Northeast Bancorp (Nasdaq:NBN), the parent company of Northeast Bank welcomed John C. Orestis of Portland and Conrad L. Ayotte of Manchester as new board members approved at the recent Annual Meeting of Shareholders held on Wednesday, November 7th at the Hilton Garden Inn, in Auburn.
"Our board is made up of very talented and diverse business people. We are pleased to continue to attract accomplished leaders like John and Conrad to join our team and to help take our company into the future," said Jim Delamater, President and CEO of Northeast Bancorp and Northeast Bank.
The board also announced the retirement of long-time board member Dennis A. Wilson of Bethel. "Dennis has been with Northeast for the past 18 years, our greatest period of growth and accomplishment. On behalf of the board, I want to thank Dennis for his leadership and perseverance as he helped bring Northeast to where it is today," noted Delamater.
Judy Kelley, Board Chair and President of Aqua Maine added, "While the board will miss Dennis and his experience and long-time perspective on the board, I am looking forward to our two new board members, John and Conrad. I know that their fresh perspective and impressive business experience in Maine will help Northeast Bancorp achieve our long-term goals and strategic plans."
Other board members approved for an additional term were John Rosmarin, Vice-Chair of the Board and President and CEO of Saunders Manufacturing, John B. Bouchard, President of J. Bouchard Builders, James P. Day, President of LRI Inc., Jim Delamater, President & CEO of Northeast Bank, Ronald J. Goguen, President and CEO of LandDrill International Inc., Philip C. Jackson, SVP, Northeast Bank, Pender J. Lazenby, SVP, Northeast Bank, John H. Schiavi, President of Schiavi Enterprises, and Stephen W. Wight, Owner, Sunday River Inn, LLC.
John C. Orestis
Orestis, a well-known business leader throughout the state, is the owner of three Maine-based corporations including Schooner Estates Retirement Community in Auburn as its Chief Development Officer, Harpers Development in Winthrop as its Senior Vice President and North Country Associates in Lewiston as its President and CEO. He previously spent close to twenty years as a senior partner with Skelton, Taintor, Abbott & Orestis also in Auburn. He was a Presidential Delegate to the White House Conference on Aging, is a former Maine State Representative, former Mayor of Lewiston and served on the national board for the American Health Care Association. He also served on numerous Maine boards and advisory boards including the University of Southern Maine Lewiston/Auburn College, University of New England, Maine Healthcare Association, Maine Development Foundation, Maine Economic Growth Council, Cancer Community Center and Forum Francophone Des Affaires. A graduate of Georgetown University and American University, Orestis is a member of the Maine State Bar Association and lives in Portland with his wife and business partner, Barbra Crowley.
Conrad L. Ayotte, CPA
Ayotte, a successful entrepreneur and CPA, is the co-owner and Vice President of JS McCarthy Printers in Augusta. Previously he spent eighteen years in leadership roles as part of numerous manufacturing start-ups and turnarounds, most notable as President & CEO of Benton Plastics, Senior Vice President Sales & Marketing for Durakon Industries and President & CEO for Custom Plastic Molding. Previous to that he spent close to ten years with Shatz, Fletcher & Associates, CPAs in Augusta, the youngest person ever elected to partnership. Active in the community, he is Chair of the Board of Trustees of Thomas College, Director of the Finance Committee for MaineGeneral Health, Director for Architectural Skylights Company and is Past Director of Kennebec Valley YMCA, Kennebec Valley Chamber of Commerce. Ayotte holds an MBA from University of Notre Dame and his BS from Thomas College, and he lives in Manchester with his wife and their two children.
Dennis A. Wilson
Wilson, a native of Bethel, had been a director of Northeast Bancorp and related companies since 1989. He is the founder and owner of D.A. Wilson & Company LLC, a diversified construction & excavation company specializing in highway and athletic field construction, as well as logging and lumbering, since 1954. He has served his community in many capacities including: 12 years as a Town of Greenwood selectman, three of those years as chairman; Trustee of the Bethel Area Health Center, serving on the Building and Grounds Committee; Trustee of the Bethel Library, serving on the Building and Grounds Committee; Trustee and current treasurer of the Bethel Area Development Corporation; Past Chairman of the Oxford County Budget Committee; Lt. of the Bethel Fire Department; Chaired and served on the G & W Transfer Station. Dennis is also a thirty-second degree Mason, a member of both the Kora Temple Shrine and the Oxford County Shrine.
About Northeast Bancorp:
Northeast Bancorp (Nasdaq:NBN); is the holding company for Maine-based Northeast Bank, which was founded in 1872 and now operates 23 retail and insurance locations serving the financial needs of western, central, and mid-coastal Maine, including 11 branches, 11 insurance offices and 1 financial center. Headquartered at 500 Canal Street, Lewiston, ME 04240, Northeast Bank, together with its wholly owned subsidiary, Northeast Bank Insurance Group, Inc. and other affiliations, is a leader in providing one-stop for financial products, 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 services, including life, disability, property and casualty insurance. All are offered via a "needs-based" sales philosophy that empowers employees to understand customer goals and objectives when finding the most appropriate product or service match.
For more information visit www.northeastbank.com or call toll free 800-284-5989.
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