AUBURN – Northeast Bancorp’s third-quarter earnings were up slightly from the same period last year, but the company’s net income dropped over the past nine months compared to the previous year, according to information released Thursday.

Northeast’s earnings through the third quarter, which ended March 31, were $2.89 million or $1.08 per diluted share, down from $2.92 million or $1.10 per diluted share last year. During the third quarter, company shares were at 40 cents, up 4 cents per diluted share from 2002.

The results were in line with company management’s expectations, according to a Northeast statement.

The bank recently opened a Commercial Banking Center in Portland and an investment division in Falmouth, and expects increased revenue from the investments in the future.