- Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

BlackRock Inc.

2. Date of Event Requiring Statement (MM/DD/YYYY) 12/29/2010

3. Issuer Name and Ticker or Trading Symbol

NORTHEAST BANCORP /ME/ [NBN]

(Last) (First) (Middle)

55 EAST 52ND STREET

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director _____ 10% Owner
_____ Officer (give title below) ___ X ___ Other (specify below)
/ See Remarks

(Street)

NEW YORK CITY, NY 10022

(City) (State) (Zip)

5. If Amendment, Date Original Filed (MM/DD/YYYY)

6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Voting Common Stock	114846	I	See Footnote ⁽¹⁾
Non-Voting Common Stock	35106	I	See Footnote ⁽¹⁾

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:

( 1)

These securities are held by and may be deemed to be beneficially owned by R3 FHB Master, L.P. ("R3 FHB Master"), and may be deemed to be beneficially owned indirectly by BlackRock, Inc. ("BlackRock"), which is the indirect parent of R3 FHB Master through BlackRock's wholly-owned direct and indirect subsidiaries including BlackRock Investment Management, LLC (which is also the investment adviser to R3 FHB Master). Each reporting person disclaims beneficial ownership of these securities except to the extent of such person's pecuniary interest therein.

Remarks:
Mr. Matthew Botein, a director of Northeast Bancorp, is a Managing Director of BlackRock. On the basis of the relationship between Mr. Botein, on the one hand, and BlackRock and its direct and indirect subsisidiaries, on the other hand, each reporting person named herein may be deemed a director with respect to Northeast Bancorp for purposes of Section 16 of the Securities Exchange Act of 1934 ("Section 16"). No reporting person named herein concedes by filing this initial statement of beneficial ownership of securities that such reporting person is subject to Section 16 with respect to Northeast Bancorp.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
BlackRock Inc. 55 EAST 52ND STREET NEW YORK CITY, NY 10022	X			See Remarks
BlackRock Investment Management, LLC 100 BELLEVUE PARKWAY WILMINGTON, DE 19809	X			See Remarks
Botein Matthew 164 DEAN ROAD BROOKLINE, MA 02445	X
R3 FHB Master LP 40 EAST 52ND STREET NEW YORK CITY, NY 10022	X			See Remarks

Signatures
/s/ David B. Maryles, attorney-in-fact		12/29/2010
^** Signature of Reporting Person		Date
/s/ David B. Maryles, attorney-in-fact		12/29/2010
^** Signature of Reporting Person		Date
/s/ David B. Maryles, attorney-in-fact		12/29/2010
^** Signature of Reporting Person		Date
/s/ David B. Maryles, attorney-in-fact		12/29/2010
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.