RELEASE ON RECEIPT - February 21, 2006

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

Ken Merritt of Fayetteville Supports Bankers and Financial Advisors in the Greater Area

Fayetteville, AR, 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 Ken Merritt, 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." Ken Merritt 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 Merritt. "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, he 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," Merritt says.

The LTCFP bank support service is simple. When a bank has an at-risk customer, they call in one of LTCFP's experts (Merritt 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 Merritt. 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, Merritt 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 Merritt at 479-444-8834.

Ken Merritt began his career in the insurance industry over 32 years ago, and has focused on long term care insurance for the past 7 years. He has received awards and recognition including the National Quality Award, for 22 years and the National Sales Achievement Award for 20 years. He is a Chartered Life Underwriter (CLU), Chartered Financial Consultant (ChFC) and a Long Term Care Professional (LTCP). As part of the public education service, Merritt will make himself available to area groups and companies for briefing sessions, after-dinner talks, and lectures. Program chairs may reach him at 479-444-8834.

MEDIA CONTACTS:
Ken Merritt of LTC Financial Partners -- 479-444-8834 - www.eranova.com/LTCFP-KenMerritt
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 - Fayetteville, AR

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Photo of Ken Merritt: