Northeast Bancorp late Monday restated second-quarter results to reflect a $67 million loss, a move that angered analysts and caused its stock price to plunge.

The ailing Connecticut-based banking company, which has $3.1 billion in assets, had reported a $39.9 million loss. It said the restatement was a result of an examination completed last week by the Federal Deposit Insurance Corp.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.