NorthEast Community Bancorp, Inc. Reports Results for the Quarter and Year Ended December 31, 2021
NorthEast Community Bancorp (NASDAQ: NECB) reported net income of $4.2 million ($0.27 per share) for Q4 2021, an increase from $3.5 million ($0.22 per share) in Q4 2020. For the full year, net income was $11.9 million ($0.75 per share), slightly down from $12.3 million ($0.76 per share) in 2020. Net interest income increased 13.9% to $11.7 million for Q4. Total assets rose 26.5% to $1.2 billion, driven by a $148.4 million increase in net loans. Asset quality remained strong, with non-performing assets at 0.16%. The annual stockholders' meeting is scheduled for May 26, 2022.
- Net income for Q4 2021 increased by 19.8% year-over-year.
- Net interest income increased by $1.4 million (13.9%) for Q4 2021.
- Total assets grew by $256.8 million (26.5%) to $1.2 billion.
- Non-performing assets to total assets improved to 0.16%.
- Full year net income decreased by $400,000 compared to 2020.
- Total non-interest income decreased by $601,000 for Q4 2021.
- Loan loss provision for the year totaled $3.6 million, an increase from $814,000 in 2020.
WHITE PLAINS, N.Y., Feb. 04, 2022 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the “Company”), the parent holding company of NorthEast Community Bank (the “Bank”), reported net income of
For the year ended December 31, 2021, the Company reported net income of
Kenneth A. Martinek, NorthEast Community Bancorp’s Chairman of the Board and Chief Executive Officer, stated, “We are pleased to report a strong finish to 2021 with a quarter of steady earnings and good asset quality, with no loans past due or in foreclosure at December 31, 2021. Despite the continuing COVID-19 pandemic, loan demand remained strong with originations increasing quarter over quarter. Our commitments, loans-in-process, and standby letters of credit outstanding totaled
Highlights for the quarter and year ended at December 31, 2021 are as follows:
- Net income increased by
$695,000 , or19.8% , for the quarter ended December 31, 2021 compared to the same period in the prior year. - For the year ended December 31, 2021, the Company recorded net income of
$11.9 million , or$0.75 per basic and diluted share. - Net interest income increased by
$1.4 million , or13.9% , for the quarter ended December 31, 2021 compared to the same period in 2020 and by$4.3 million , or11.0% , for the year ended December 31, 2021 compared to the same period in 2020. - Asset quality metrics continued to remain strong with non-performing assets to total assets of
0.16% at December 31, 2021 compared to0.58% at December 31, 2020. Our allowance for loan losses totaled$5.2 million , or0.54% of total loans at December 31, 2021 compared to$5.1 million , or0.62% of total loans at December 31, 2020. - In accordance with the provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) since March 2020, we have granted pandemic-related loan payment deferrals to 196 loans totaling
$190.9 million at the time payment deferral was requested. At December 31, 2021, we had one loan totaling$79,000 still in deferral status.
Balance Sheet Summary
Total assets increased by
Cash and cash equivalents increased by
Equity securities increased by
Securities held-to-maturity increased by
Loans, net of the allowance for loan losses, increased by
Loan originations resulted in a net increase of
Premises and equipment increased by
Foreclosed real estate was
Right of use assets — operating decreased by
Other assets decreased by
Total deposits increased by
Federal Home Loan Bank advances were
Advance payments by borrowers for taxes and insurance decreased by
Lease liability – operating decreased by
Accounts payable and accrued expenses increased by
Stockholders’ equity increased by
The increase in stockholders’ equity was also due to net income of
Net Interest Income
Net interest income totaled
The increase in interest income is attributable to increases in loans, investment securities, equity securities, and interest-bearing deposits as we continued to deploy the proceeds raised in the second-step conversion. The decrease in interest expense is attributable to a decrease in the balances and cost of funds on our certificates of deposits, partially offset by increases in the balances and cost of funds in our interest-bearing demand deposits and our savings and club accounts.
In this regard, interest and dividend income increased by
Interest expense decreased by
Net interest margin decreased by 32 basis points, or
Net interest income totaled
In a manner consistent with the decrease in interest rates in response to the COVID-19 pandemic, our cost of interest bearing liabilities decreased much greater than our yield on interest earning assets as our interest bearing liabilities repriced much faster to lower rates than our yield on interest earning assets. In this regard, our cost of interest bearing liabilities decreased by 75 basis points from
Net interest margin decreased by 5 basis points, or
Provision for Loan Losses
The Company recorded no loan loss provision for the quarter ended December 31, 2021 compared to a loan loss provision of
The Company recorded a loan loss provision of
The provision recorded for the year ended December 31, 2021 was primarily attributed to the charge-off of
The Company is aggressively seeking recovery of all amounts due from the personal guarantors of the loan. However, the recovery process is uncertain and might take an extended period of time to resolve this matter. In the event the Company is successful against the guarantors, any recovery received would be added back to the allowance for loan losses and an analysis would be performed at that time to determine the appropriateness of the recovery into income.
The provision recorded for the year ended December 31, 2020 was primarily attributable to the perceived potential credit risk associated with the COVID-19 pandemic, although no specific or probable losses were identified at that time. Although the COVID-19 pandemic and the resulting recession has impacted the local economy, we have not experienced any significant deterioration of our borrowers’ ability to keep current in accordance with the terms of their obligations.
We charged-off
Non-Interest Income
Non-interest income for the quarter ended December 31, 2021 was
Non-interest income for the year ended December 31, 2021 was
Non-Interest Expense
Non-interest expense increased by
Non-interest expense increased by
Income Taxes
We recorded income tax expense of
We recorded income tax expense of
Asset Quality
During the year ended December 31, 2021, non-performing assets decreased by
Based on a review of the loans that were in the loan portfolio at December 31, 2021, management believes that the allowance is maintained at a level that represents its best estimate of inherent losses in the loan portfolio that were both probable and reasonably estimable.
The Company’s allowance for loan losses totaled
Capital
The Company’s total stockholder’s equity to assets was
The Bank’s capital position remains strong relative to current regulatory requirements and the Bank is considered a well-capitalized institution under the Prompt Corrective Action framework. As of December 31, 2021, the Bank had a tier 1 leverage capital ratio of
Annual Meeting of Stockholders
On February 4, 2022, the Company also announced that its annual meeting of stockholders will be held on May 26, 2022.
About NorthEast Community Bancorp
NorthEast Community Bancorp, headquartered at 325 Hamilton Avenue, White Plains, New York 10601, is the holding company for NorthEast Community Bank, which conducts business through its ten branch offices located in Bronx, New York, Orange, and Rockland Counties in New York and Essex, Middlesex, and Norfolk Counties in Massachusetts and three loan production offices located in New City, New York, White Plains, New York, and Danvers, Massachusetts. For more information about NorthEast Community Bancorp and NorthEast Community Bank, please visit www.necb.com.
Forward Looking Statement
This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include, but are not limited to, changes in market interest rates, regional and national economic conditions, the effect of the COVID-19 pandemic (including its impact on NorthEast Community Bank’s business operations and credit quality, on our customers and their ability to repay their loan obligations and on general economic and financial market conditions), legislative and regulatory changes, monetary and fiscal policies of the United States government, including policies of the United States Treasury and the Federal Reserve Board, the quality and composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in NorthEast Community Bank’s market area, changes in the real estate market values in NorthEast Community Bank’s market area and changes in relevant accounting principles and guidelines. Additionally, other risks and uncertainties may be described in our annual and quarterly reports filed with the U.S. Securities and Exchange Commission (the “SEC”), which are available through the SEC’s website located at www.sec.gov. These risks and uncertainties should be considered in evaluating any forward-looking statements and undue reliance should not be placed on such statements. Except as required by applicable law or regulation, the Company does not undertake, and specifically disclaims any obligation, to release publicly the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events.
| CONTACT: | Kenneth A. Martinek |
| Chairman and Chief Executive Officer | |
| PHONE: | (914) 684-2500 |
NORTHEAST COMMUNITY BANCORP, INC.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
| December 31, | December 31, | |||||||
| 2021 | 2020 | |||||||
| (In thousands, except share | ||||||||
| and per share amounts) | ||||||||
| ASSETS | ||||||||
| Cash and amounts due from depository institutions | $ | 8,344 | $ | 7,613 | ||||
| Interest-bearing deposits | 143,925 | 61,578 | ||||||
| Total Cash and cash equivalents | 152,269 | 69,191 | ||||||
| Certificates of deposit | 100 | 100 | ||||||
| Equity securities | 19,943 | 10,332 | ||||||
| Securities available-for-sale, at fair value | 1 | 2 | ||||||
| Securities held-to-maturity (fair value of | 17,880 | 7,382 | ||||||
| Loans receivable | 972,851 | 824,708 | ||||||
| Deferred loan costs, net | 484 | 113 | ||||||
| Allowance for loan losses | (5,242 | ) | (5,088 | ) | ||||
| Net loans | 968,093 | 819,733 | ||||||
| Premises and equipment, net | 23,907 | 18,675 | ||||||
| Investments in restricted stock, at cost | 1,569 | 1,595 | ||||||
| Bank owned life insurance | 25,291 | 24,691 | ||||||
| Accrued interest receivable | 4,283 | 3,838 | ||||||
| Goodwill | 651 | 651 | ||||||
| Real estate owned | 1,996 | 1,996 | ||||||
| Property held for investment | 1,481 | 1,518 | ||||||
| Right of Use Assets – Operating | 2,564 | 3,094 | ||||||
| Right of Use Assets – Financing | 359 | 363 | ||||||
| Other assets | 4,683 | 5,060 | ||||||
| Total assets | $ | 1,225,070 | $ | 968,221 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Liabilities: | ||||||||
| Deposits: | ||||||||
| Non-interest bearing | $ | 330,853 | $ | 221,371 | ||||
| Interest bearing | 596,311 | 550,335 | ||||||
| Total deposits | 927,164 | 771,706 | ||||||
| Advance payments by borrowers for taxes and insurance | 1,884 | 2,258 | ||||||
| Federal Home Loan Bank advances | 28,000 | 28,000 | ||||||
| Lease Liability – Operating | 2,604 | 3,115 | ||||||
| Lease Liability – Financing | 496 | 460 | ||||||
| Accounts payable and accrued expenses | 13,540 | 8,857 | ||||||
| Total liabilities | 973,688 | 814,396 | ||||||
| Stockholders’ equity: | ||||||||
| Preferred stock, | — | — | ||||||
| Common stock, | $ | 164 | $ | 132 | ||||
| Additional paid-in capital | 145,335 | 56,901 | ||||||
| Unearned Employee Stock Ownership Plan (“ESOP”) shares | (8,301 | ) | (1,296 | ) | ||||
| Treasury stock – at cost, 0 and 1,380,721 shares, respectively¹ | - | (7,032 | ) | |||||
| Retained earnings | 114,323 | 105,305 | ||||||
| Accumulated other comprehensive loss | (139 | ) | (185 | ) | ||||
| Total stockholders’ equity | 251,382 | 153,825 | ||||||
| Total liabilities and stockholders’ equity | $ | 1,225,070 | $ | 968,221 | ||||
¹Shares amounts related to periods prior to the July 12, 2021 closing of the conversion offering have been restated to give retroactive recognition to the 1.34 exchange ratio applied in the conversion offering.
NORTHEAST COMMUNITY BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
| Quarter Ended December 31 | Year Ended December 31 | |||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||
| (In thousands, except per share amounts) | ||||||||||||||||
| INTEREST INCOME: | ||||||||||||||||
| Loans | $ | 12,661 | $ | 11,880 | $ | 47,898 | $ | 48,202 | ||||||||
| Interest-earning deposits | 41 | 13 | 115 | 360 | ||||||||||||
| Securities | 114 | 90 | 391 | 415 | ||||||||||||
| Total Interest Income | 12,816 | 11,983 | 48,404 | 48,977 | ||||||||||||
| INTEREST EXPENSE: | ||||||||||||||||
| Deposits | 969 | 1,562 | 4,359 | 9,254 | ||||||||||||
| Borrowings | 178 | 178 | 706 | 687 | ||||||||||||
| Financing lease | 9 | 9 | 36 | 36 | ||||||||||||
| Total Interest Expense | 1,156 | 1,749 | 5,101 | 9,977 | ||||||||||||
| Net Interest Income | 11,660 | 10,234 | 43,303 | 39,000 | ||||||||||||
| Provision for loan loss | — | 53 | 3,610 | 814 | ||||||||||||
| Net Interest Income after Provision for Loan Losses | 11,660 | 10,181 | 39,693 | 38,186 | ||||||||||||
| NON-INTEREST INCOME: | ||||||||||||||||
| Other loan fees and service charges | 472 | 324 | 1,568 | 1,045 | ||||||||||||
| Gain (loss) on disposition of equipment | — | (59 | ) | 7 | (61 | ) | ||||||||||
| Earnings on bank owned life insurance | 153 | 153 | 600 | 609 | ||||||||||||
| Investment advisory fees | 133 | 106 | 514 | 425 | ||||||||||||
| Unrealized gain (loss) on equity securities | (174 | ) | (10 | ) | (389 | ) | 288 | |||||||||
| Other | 17 | 99 | 54 | 207 | ||||||||||||
| Total Non-Interest Income | 601 | 613 | 2,354 | 2,513 | ||||||||||||
| NON-INTEREST EXPENSES: | ||||||||||||||||
| Salaries and employee benefits | 3,773 | 3,779 | 14,996 | 13,809 | ||||||||||||
| Occupancy expense | 581 | 495 | 2,115 | 1,932 | ||||||||||||
| Equipment | 275 | 313 | 993 | 917 | ||||||||||||
| Outside data processing | 434 | 472 | 1,652 | 1,771 | ||||||||||||
| Advertising | 55 | 24 | 139 | 168 | ||||||||||||
| Impairment loss on goodwill | - | 48 | - | 98 | ||||||||||||
| Real estate owned expense | 8 | 138 | 93 | 313 | ||||||||||||
| Other | 1,630 | 1,433 | 6,485 | 6,080 | ||||||||||||
| Total Non-Interest Expenses | 6,756 | 6,702 | 26,473 | 25,088 | ||||||||||||
| INCOME BEFORE PROVISION FOR INCOME TAXES | 5,505 | 4,092 | 15,574 | 15,611 | ||||||||||||
| PROVISION FOR INCOME TAXES | 1,297 | 579 | 3,669 | 3,282 | ||||||||||||
| NET INCOME | $ | 4,208 | $ | 3,513 | $ | 11,905 | $ | 12,329 | ||||||||
NORTHEAST COMMUNITY BANCORP, INC.
SELECTED CONSOLIDATED FINANCIAL DATA
(Unaudited)
| Quarter Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||
| (In thousands, except per share amounts) | (In thousands, except per share amounts) | |||||||||||||||
| Per share data: | ||||||||||||||||
| Earnings per share - basic and diluted¹ | $ | 0.27 | $ | 0.22 | $ | 0.75 | $ | 0.76 | ||||||||
| Weighted average shares outstanding - basic and diluted¹ | 15,501 | 16,163 | 15,854 | 16,150 | ||||||||||||
| Performance ratios/data: | ||||||||||||||||
| Return on average total assets | ||||||||||||||||
| Return on average shareholders' equity | ||||||||||||||||
| Net interest income | $ | 11,660 | $ | 10,234 | $ | 43,303 | $ | 39,000 | ||||||||
| Net interest margin | ||||||||||||||||
| Efficiency ratio | ||||||||||||||||
| Net charge-off ratio | ||||||||||||||||
| Loan portfolio composition: | December 31, 2021 | December 31, 2020 | ||||||||||||||
| One-to-four family | $ | 7,189 | $ | 6,170 | ||||||||||||
| Multi-family | 84,426 | 90,506 | ||||||||||||||
| Mixed-use | 31,827 | 30,508 | ||||||||||||||
| Total residential real estate | 123,442 | 127,184 | ||||||||||||||
| Non-residential real estate | 46,933 | 60,665 | ||||||||||||||
| Construction | 683,830 | 545,788 | ||||||||||||||
| Commercial and industrial | 118,378 | 90,577 | ||||||||||||||
| Consumer | 268 | 494 | ||||||||||||||
| Gross loans | 972,851 | 824,708 | ||||||||||||||
| Deferred loan (fees) costs, net | 484 | 113 | ||||||||||||||
| Total loans | $ | 973,335 | $ | 824,821 | ||||||||||||
| Asset quality data: | ||||||||||||||||
| Loans past due over 90 days and still accruing | $ | - | $ | - | ||||||||||||
| Non-accrual loans | - | 3,572 | ||||||||||||||
| OREO property | 1,996 | 1,996 | ||||||||||||||
| Total non-performing assets | $ | 1,996 | $ | 5,568 | ||||||||||||
| Allowance for loan losses to total loans | ||||||||||||||||
| Allowance for loan losses to non-performing loans | NA | |||||||||||||||
| Non-performing loans to total loans | ||||||||||||||||
| Non-performing assets to total assets | ||||||||||||||||
| Bank's Regulatory Capital ratios: | ||||||||||||||||
| Common equity tier 1 capital to risk-weighted assets | ||||||||||||||||
| Total capital to risk-weighted assets | ||||||||||||||||
| Tier 1 capital to risk-weighted assets | ||||||||||||||||
| Tier 1 leverage ratio | ||||||||||||||||
¹Shares amounts related to periods prior to the July 12, 2021 closing of the conversion offering have been restated to give retroactive recognition to the 1.34 exchange ratio applied in the conversion offering.
NORTHEAST COMMUNITY BANCORP, INC.
NET INTEREST MARGIN ANALYSIS
(Unaudited)
| Quarter Ended December 31, 2021 | Quarter Ended December 31, 2020 | ||||||||||||||||||||||
| Average | Interest | Average | Average | Interest | Average | ||||||||||||||||||
| Balance | and dividend | Yield | Balance | and dividend | Yield | ||||||||||||||||||
| (In thousands, except yield/cost information) | (In thousands, except yield/cost information) | ||||||||||||||||||||||
| Loan receivable Gross | $ | 933,783 | $ | 12,661 | 5.42 | % | $ | 811,487 | $ | 11,880 | 5.86 | % | |||||||||||
| Securities (1) | 30,435 | 114 | 1.50 | % | 19,507 | 90 | 1.85 | % | |||||||||||||||
| Other interest-earning assets | 114,356 | 41 | 0.14 | % | 50,694 | 13 | 0.10 | % | |||||||||||||||
| Total interest-earning assets | 1,078,574 | 12,816 | 4.75 | % | 881,688 | 11,983 | 5.44 | % | |||||||||||||||
| Allowance for loan losses | (5,242 | ) | (5,182 | ) | |||||||||||||||||||
| Non-interest-earning assets | 77,027 | 68,584 | |||||||||||||||||||||
| Total assets | $ | 1,150,359 | $ | 945,090 | |||||||||||||||||||
| Interest-bearing demand deposit | $ | 119,598 | $ | 193 | 0.65 | % | $ | 97,501 | $ | 153 | 0.63 | % | |||||||||||
| Savings and club accounts | 133,938 | 153 | 0.46 | % | 100,538 | 84 | 0.33 | % | |||||||||||||||
| Certificates of deposit | 301,062 | 623 | 0.83 | % | 348,224 | 1,326 | 1.52 | % | |||||||||||||||
| Total interest-bearing deposits | 554,598 | 969 | 0.70 | % | 546,263 | 1,563 | 1.14 | % | |||||||||||||||
| Borrowed money | 28,000 | 187 | 2.67 | % | 28,000 | 186 | 2.66 | % | |||||||||||||||
| Total interest-bearing liabilities | 582,598 | 1,156 | 0.79 | % | 574,263 | 1,749 | 1.22 | % | |||||||||||||||
| Non-interest-bearing demand deposit | 299,911 | 202,587 | |||||||||||||||||||||
| Other non-interest-bearing liabilities | 17,036 | 15,545 | |||||||||||||||||||||
| Total liabilities | 899,545 | 792,395 | |||||||||||||||||||||
| Equity | 250,814 | 152,695 | |||||||||||||||||||||
| Total liabilities and equity | $ | 1,150,359 | $ | 945,090 | |||||||||||||||||||
| Net interest income / interest spread | $ | 11,660 | 3.96 | % | $ | 10,234 | 4.22 | % | |||||||||||||||
| Net interest rate margin | 4.32 | % | 4.64 | % | |||||||||||||||||||
| Net interest earning assets | $ | 495,976 | $ | 307,425 | |||||||||||||||||||
| Average interest-earning assets | |||||||||||||||||||||||
| to interest-bearing liabilities | |||||||||||||||||||||||
____________
(1) Includes Federal Home Loan Bank of New York stock.
| Year Ended December 31, 2021 | Year Ended December 31, 2020 | |||||||||||||||||||||
| Average | Interest | Average | Average | Interest | Average | |||||||||||||||||
| Balance | and dividend | Yield | Balance | and dividend | Yield | |||||||||||||||||
| (In thousands, except yield/cost information) | (In thousands, except yield/cost information) | |||||||||||||||||||||
| Loan receivable Gross | $ | 866,518 | $ | 47,898 | 5.53 | % | $ | 797,735 | $ | 48,202 | 6.04 | % | ||||||||||
| Securities (1) | 24,602 | 391 | 1.59 | % | 20,264 | 415 | 2.05 | % | ||||||||||||||
| Other interest-earning assets | 91,999 | 115 | 0.13 | % | 58,438 | 360 | 0.62 | % | ||||||||||||||
| Total interest-earning assets | 983,119 | 48,404 | 4.92 | % | 876,437 | 48,977 | 5.59 | % | ||||||||||||||
| Allowance for loan losses | (5,154 | ) | (4,965 | ) | ||||||||||||||||||
| Non-interest-earning assets | 72,855 | 67,494 | ||||||||||||||||||||
| Total assets | $ | 1,050,820 | $ | 938,966 | ||||||||||||||||||
| Interest-bearing demand deposit | $ | 114,940 | $ | 696 | 0.61 | % | $ | 104,390 | $ | 768 | 0.74 | % | ||||||||||
| Savings and club accounts | 108,877 | 328 | 0.30 | % | 101,738 | 626 | 0.62 | % | ||||||||||||||
| Certificates of deposit | 316,690 | 3,335 | 1.05 | % | 372,535 | 7,860 | 2.11 | % | ||||||||||||||
| Total interest-bearing deposits | 540,507 | 4,359 | 0.81 | % | 578,663 | 9,254 | 1.60 | % | ||||||||||||||
| Borrowed money | 28,000 | 742 | 2.65 | % | 26,811 | 723 | 2.70 | % | ||||||||||||||
| Total interest-bearing liabilities | 568,507 | 5,101 | 0.90 | % | 605,474 | 9,977 | 1.65 | % | ||||||||||||||
| Non-interest-bearing demand deposit | 260,529 | 172,508 | ||||||||||||||||||||
| Other non-interest-bearing liabilities | 24,310 | 12,595 | ||||||||||||||||||||
| Total liabilities | 853,346 | 790,577 | ||||||||||||||||||||
| Equity | 197,474 | 148,389 | ||||||||||||||||||||
| Total liabilities and equity | $ | 1,050,820 | $ | 938,966 | ||||||||||||||||||
| Net interest income / interest spread | $ | 43,303 | 4.03 | % | $ | 39,000 | 3.94 | % | ||||||||||||||
| Net interest rate margin | 4.40 | % | 4.45 | % | ||||||||||||||||||
| Net interest earning assets | $ | 414,612 | $ | 270,963 | ||||||||||||||||||
| Average interest-earning assets | ||||||||||||||||||||||
| to interest-bearing liabilities | ||||||||||||||||||||||
_____________
(1) Includes Federal Home Loan Bank of New York stock.
FAQ
What were the Q4 results for NorthEast Community Bancorp (NECB)?
How did net interest income change for NECB in Q4 2021?
What is the asset growth for NorthEast Community Bancorp (NECB)?
When is the annual meeting of stockholders for NECB?
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