RELEASE ON RECEIPT - February 21, 2006

Local Banks to Link Long Term Health with Long Term Wealth; New Program from LTC Financial Partners, Felton, Helps It Happen

Barbara Hanson of Felton Supports Bankers and Financial Advisors in the Greater Area

Felton, CA, February 21 – According to LTC Financial Partners (LTCFP), Northeast Bank, a subsidiary of Northeast Bancorp (AMEX: NBN) is the first regional or local bank to incorporate LTCFP's health-related support system into their financial advisory services in a formal way. "We're already supporting national organizations," says Barbara Hanson, who heads the program for LTCFP in the local area. "But Northeast is the first regional or local organization to engage us on a systematic basis. We expect to be supporting dozens of community and state banks very shortly." Barbara Hanson is a Partner of LTCFP.

The support service consists of expert consultation on the financial impact of long term care expenses. "People don't realize how exposed they are to catastrophic loss," says Hanson. "Long term care protection is the missing gap in our healthcare safety net. If a family member gets sick or injured, you can lose practically everything in short order." Ordinary health insurance and Medicare do not cover most long term care expenses, she points out.

Local banks will increasingly seek outside advice from long term care experts because, "they're realizing that without the right LTC planning, the best estate plan or investment portfolio can quickly dissolve. Bankers aren't experts on this form of insurance protection, so they need to rely on outside specialists," Hanson says.

The LTCFP bank support service is simple. When a bank has an at-risk customer, they call in one of LTCFP's experts (Hanson in the local area) who provide detailed information on alternative carriers and policies, relevant tax legislation, and other factors. "With the long term care safety net in place, the financial advisor can then fine-tune the estate plan or investment portfolio, comfortable in the knowledge of a more secure outcome," says Hanson. The service works for smaller banks that do not offer financial advisory services, as well as for larger ones that do. All banks have a vested interest in long term care protection for their customers, Hanson points out. "When protected by insurance, people remain active bank customers longer. When unprotected customers have to start paying for long term care on their own dime, the first withdrawal usually signals the last time they'll ever make a deposit."

Northeast Bancorp, which announced its relationship with LTCFP on January 31, serves business and consumer customers in western, central and mid-coastal Maine. Northeast Bank offers financial planning and investments through their financial consultants who are also Registered Representatives of Commonwealth Financial Network, Member NASD.

National organizations already availing themselves of LTCFP's support service include the NRL Federal Credit Union, the National Network of Estate Planning Attorneys, major banking chains, and national wire houses.

An informational guidebook, offering LTC-related asset-protection facts, may be requested by bankers, independent financial advisors, or the public by contacting Hanson at 831-335-4949.

For seven years, Barbara Hanson served as activity director in several private nursing homes and a county mental hospital. This experience motivated her to help people prepare for a better life as they age. She is committed to community outreach and education on the need to plan for long-term care needs. As a public education service, she makes herself available to area groups, companies, and financial professionals for briefing sessions, after-dinner talks, lectures, and media interviews. She explains how long-term care insurance (LTCi) can supply the funds and options one may need to avoid exhausting one's savings in the future. Hanson also assists estate planners, financial advisors, attorneys and accountants in addressing their clients’ LTCi concerns. She has helped over 1000 families protect their estates from financial devastation, and was honored as a leading agent by the nation’s largest long-term care insurance carrier, General Electric Capital. She is now a Partner with LTC Financial Partners, LLC. In 2004 and 2005, she received the National LTCi Sales Achievement Award, which recognizes America's top 100 agents.

MEDIA CONTACTS:
Barbara Hanson of LTC Financial Partners -- 831-335-4949 - www.eranova.com/LTCFP-BarbaraHanson
Jonas Roeser of LTC Financial Partners - 425-284-4863
Dick Samson of EraNova Institute for LTC Financial Partners - 973-335-3699 – media@eranova.com

LTC Financial Partners LLC - Felton, CA

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Photo of Barbara Hanson: