LEWISTON — Northeast Bancorp announced recently that its insurance division, Northeast Bank Insurance Group, has been acquired by agencies in two separate transactions, effective Sept. 1.

The Varney Agency of Bangor will purchase the assets of nine Northeast Bank insurance offices which cover southern, central and western Maine. Brad Scott, currently a member of the Northeast Bank Insurance Group’s senior management team, will acquire the assets of Spence and Mathews Insurance, which operates one insurance office in Berwick.

Northeast will continue to have a business relationship with both the Varney Agency and Spence and Mathews Insurance after the transaction closes. Northeast Bank will be referring customers with insurance needs to each of these agencies. In both transactions, existing Northeast Bank Insurance Group customer insurance policies, carriers, terms and the majority of account service representatives will remain.

The Varney Agency and Spence and Mathews will be contacting customers directly, but all retail locations and contact numbers will remain the same. Customers with inquiries may contact the Varney Agency at 877-947-8637 or Spence and Mathews Insurance at 800-595-2565.