LEWISTON (AP) – Northeast Bancorp says it’s received $4.2 million as part of the Bush administration plan to buy stock in banks.

In Friday’s announcement, the parent company of Northeast Bank said that in exchange it issued the Treasury shares of Northeast Bancorp preferred stock and warrants to purchase Northeast Bancorp common stock.

The government program to take partial ownership in banks is meant to provide the institutions with an injection of capital, and is part of a larger $700 billion rescue package for the banking system.

Northeast Bancorp, based in Lewiston, said the $4.2 million in capital represents approximately 1 percent of Northeast’s risk-based assets, the minimum level for participation in the program.