NorthEast Community Bancorp, Inc. Reports Results for the Three Months Ended March 31, 2025
NorthEast Community Bancorp (NECB) reported net income of $10.6 million ($0.80 per basic share) for Q1 2025, down from $11.4 million ($0.87 per basic share) in Q1 2024. The bank maintained strong performance metrics with a 2.12% return on assets and 12.98% return on equity.
Key financial highlights include: Total assets decreased 3.8% to $1.9 billion, net loans decreased 4.8% to $1.7 billion, and deposits decreased 5.1% to $1.6 billion. The bank originated $170.1 million in new loans during Q1 2025, primarily in construction and multi-family segments. Asset quality remained robust with no non-performing loans and a 0.26% non-performing assets ratio.
Total stockholders' equity increased 2.8% to $327.2 million. Net interest income decreased 2.9% to $24.3 million, while the net interest margin declined to 5.11% from 5.75% year-over-year. The allowance for credit losses was $5.1 million, representing 0.30% of total loans.
NorthEast Community Bancorp (NECB) ha riportato un utile netto di 10,6 milioni di dollari (0,80 dollari per azione base) nel primo trimestre 2025, in calo rispetto agli 11,4 milioni di dollari (0,87 dollari per azione base) del primo trimestre 2024. La banca ha mantenuto solidi indicatori di performance con un rendimento degli attivi del 2,12% e un rendimento del capitale proprio del 12,98%.
I principali dati finanziari evidenziano: gli attivi totali sono diminuiti del 3,8% a 1,9 miliardi di dollari, i prestiti netti sono scesi del 4,8% a 1,7 miliardi di dollari, e i depositi sono calati del 5,1% a 1,6 miliardi di dollari. Nel primo trimestre 2025 la banca ha erogato nuovi prestiti per 170,1 milioni di dollari, soprattutto nei settori delle costruzioni e degli immobili multifamiliari. La qualità degli attivi è rimasta solida, senza prestiti in sofferenza e con un rapporto di attività non performanti dello 0,26%.
Il patrimonio netto totale degli azionisti è aumentato del 2,8% a 327,2 milioni di dollari. Il reddito netto da interessi è diminuito del 2,9% a 24,3 milioni di dollari, mentre il margine di interesse netto è sceso al 5,11% rispetto al 5,75% dell’anno precedente. L’accantonamento per perdite su crediti è stato di 5,1 milioni di dollari, pari allo 0,30% del totale dei prestiti.
NorthEast Community Bancorp (NECB) reportó un ingreso neto de 10,6 millones de dólares (0,80 dólares por acción básica) en el primer trimestre de 2025, una disminución respecto a los 11,4 millones de dólares (0,87 dólares por acción básica) en el primer trimestre de 2024. El banco mantuvo sólidos indicadores de desempeño con un retorno sobre activos del 2,12% y un retorno sobre el patrimonio del 12,98%.
Los aspectos financieros clave incluyen: los activos totales disminuyeron un 3,8% hasta 1,9 mil millones de dólares, los préstamos netos bajaron un 4,8% a 1,7 mil millones de dólares, y los depósitos cayeron un 5,1% a 1,6 mil millones de dólares. Durante el primer trimestre de 2025, el banco originó préstamos nuevos por 170,1 millones de dólares, principalmente en los segmentos de construcción y multifamiliares. La calidad de los activos se mantuvo sólida, sin préstamos en mora y con una proporción de activos no productivos del 0,26%.
El patrimonio total de los accionistas aumentó un 2,8% hasta 327,2 millones de dólares. Los ingresos netos por intereses disminuyeron un 2,9% a 24,3 millones de dólares, mientras que el margen neto de intereses bajó al 5,11% desde el 5,75% interanual. La provisión para pérdidas crediticias fue de 5,1 millones de dólares, representando el 0,30% del total de préstamos.
NorthEast Community Bancorp (NECB)는 2025년 1분기에 1,060만 달러(기본 주당 0.80달러)의 순이익을 보고했으며, 이는 2024년 1분기의 1,140만 달러(기본 주당 0.87달러)에서 감소한 수치입니다. 은행은 자산수익률 2.12%, 자기자본이익률 12.98%로 견고한 성과 지표를 유지했습니다.
주요 재무 하이라이트는 다음과 같습니다: 총 자산은 3.8% 감소한 19억 달러, 순대출금은 4.8% 감소한 17억 달러, 예금은 5.1% 감소한 16억 달러입니다. 2025년 1분기 동안 은행은 주로 건설 및 다가구 부문에서 1억 7,010만 달러의 신규 대출을 실행했습니다. 자산 품질은 부실 대출이 없고 부실 자산 비율이 0.26%로 견고하게 유지되었습니다.
총 주주 자본은 2.8% 증가한 3억 2,720만 달러를 기록했습니다. 순이자수익은 2.9% 감소한 2,430만 달러였으며, 순이자마진은 전년 동기 대비 5.75%에서 5.11%로 하락했습니다. 대손충당금은 510만 달러로 총 대출의 0.30%를 차지합니다.
NorthEast Community Bancorp (NECB) a déclaré un bénéfice net de 10,6 millions de dollars (0,80 dollar par action de base) pour le premier trimestre 2025, en baisse par rapport à 11,4 millions de dollars (0,87 dollar par action de base) au premier trimestre 2024. La banque a maintenu de solides indicateurs de performance avec un rendement des actifs de 2,12 % et un rendement des capitaux propres de 12,98 %.
Les faits marquants financiers clés comprennent : les actifs totaux ont diminué de 3,8 % pour atteindre 1,9 milliard de dollars, les prêts nets ont diminué de 4,8 % pour s’établir à 1,7 milliard de dollars, et les dépôts ont baissé de 5,1 % pour atteindre 1,6 milliard de dollars. La banque a accordé 170,1 millions de dollars de nouveaux prêts au cours du premier trimestre 2025, principalement dans les secteurs de la construction et du logement multifamilial. La qualité des actifs est restée solide, sans prêts non performants et avec un ratio d’actifs non performants de 0,26 %.
Les capitaux propres totaux des actionnaires ont augmenté de 2,8 % pour atteindre 327,2 millions de dollars. Le revenu net d’intérêts a diminué de 2,9 % pour s’établir à 24,3 millions de dollars, tandis que la marge nette d’intérêts a baissé à 5,11 % contre 5,75 % d’une année sur l’autre. La provision pour pertes sur prêts s’élève à 5,1 millions de dollars, représentant 0,30 % du total des prêts.
NorthEast Community Bancorp (NECB) meldete für das erste Quartal 2025 einen Nettogewinn von 10,6 Millionen US-Dollar (0,80 US-Dollar je Stammaktie), was einen Rückgang gegenüber 11,4 Millionen US-Dollar (0,87 US-Dollar je Stammaktie) im ersten Quartal 2024 darstellt. Die Bank hielt starke Leistungskennzahlen mit einer Gesamtkapitalrendite von 2,12 % und einer Eigenkapitalrendite von 12,98 % aufrecht.
Wesentliche finanzielle Highlights sind: Die Gesamtaktiva sanken um 3,8 % auf 1,9 Milliarden US-Dollar, die Nettokredite verringerten sich um 4,8 % auf 1,7 Milliarden US-Dollar und die Einlagen gingen um 5,1 % auf 1,6 Milliarden US-Dollar zurück. Im ersten Quartal 2025 vergab die Bank neue Kredite in Höhe von 170,1 Millionen US-Dollar, hauptsächlich im Bau- und Mehrfamilienhaussegment. Die Vermögensqualität blieb robust, ohne notleidende Kredite und mit einer Quote notleidender Vermögenswerte von 0,26 %.
Das gesamte Eigenkapital der Aktionäre stieg um 2,8 % auf 327,2 Millionen US-Dollar. Der Nettozinsertrag sank um 2,9 % auf 24,3 Millionen US-Dollar, während die Nettozinsmarge von 5,75 % im Vorjahresvergleich auf 5,11 % zurückging. Die Rückstellung für Kreditausfälle betrug 5,1 Millionen US-Dollar und entspricht 0,30 % der Gesamtkredite.
- Strong asset quality with zero non-performing loans
- Robust loan originations of $170.1 million in Q1
- Increased stockholders' equity by 2.8% to $327.2 million
- Strong performance metrics with 2.12% ROA and 12.98% ROE
- Net income decreased from $11.4M to $10.6M year-over-year
- Net interest margin declined from 5.75% to 5.11%
- Total assets decreased 3.8% to $1.9 billion
- Deposits decreased 5.1% to $1.6 billion
Insights
NECB reported solid Q1 performance with $10.6M profit despite margin pressure; strong fundamentals offset mild year-over-year profitability decline.
NorthEast Community Bancorp's Q1 2025 results demonstrate resilient profitability despite some margin compression in a challenging rate environment. The bank generated
The bank's profitability remains impressively robust with a
Asset quality metrics are outstanding with zero non-performing loans and minimal non-performing assets at just
The balance sheet contraction (assets down
The primary challenge evident in these results is net interest margin compression, which declined
Strong loan originations of
WHITE PLAINS, N.Y., April 21, 2025 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the “Company”), the parent holding company of NorthEast Community Bank (the “Bank”), generated net income of
Kenneth A. Martinek, Chairman of the Board and Chief Executive Officer, stated, “We are, once again, pleased to report another quarter of strong earnings due to the excellent performance of our loan portfolio. Despite the challenging economic operating environment thus far in 2025, loan demand is strong with originations and outstanding commitments robust and increasing. As in the past, construction lending in high demand-high absorption areas continues to be our focus.”
Highlights for the three months ended March 31, 2025 are as follows:
- Performance metrics continue to be strong at March 31, 2025, with a return on average total assets ratio of
2.12% , a return on average shareholders’ equity ratio of12.98% , and an efficiency ratio of41.64% . - Asset quality metrics continued to remain strong with no non-performing loans at either March 31, 2025 or December 31, 2024, and non-performing assets to total assets of
0.26% and0.25% at March 31, 2025 and at December 31, 2024, respectively. Our allowance for credit losses related to loans totaled$5.1 million , or0.30% of total loans at March 31, 2025 compared to$4.9 million , or0.27% of total loans at December 31, 2024. - We increased total stockholders’ equity by
$8.9 million , or2.8% , to$327.2 million , or16.92% of total assets as of March 31, 2025 from$318.3 million , or15.84% of total assets as of December 31, 2024.
Balance Sheet Summary
Total assets decreased
Cash and cash equivalents increased
Equity securities increased
Securities held-to-maturity decreased
Loans, net of the allowance for credit losses, decreased
During the quarter ended March 31, 2025, we originated loans totaling
The allowance for credit losses related to loans increased to
Premises and equipment increased
Federal Home Loan Bank stock was
Bank owned life insurance (“BOLI”) increased
Accrued interest receivable decreased
Right of use assets — operating decreased
Other assets decreased
Total deposits decreased
The decrease in retail certificates of deposit was due to a shift in deposits to our retail high yield money market accounts. The decrease in brokered certificates of deposit was due to management’s strategy to reduce the cost of funds by “calling” higher rate brokered deposits on their call dates.
Advance payments by borrowers for taxes and insurance increased
Lease liability – operating decreased
Accounts payable and accrued expenses decreased
Stockholders’ equity increased
Results of Operations for the Three Months Ended March 31, 2025 and 2024
Net Interest Income
Net interest income was
Total interest and dividend income increased
Interest expense increased
Our net interest margin decreased 64 basis points, or
Credit Loss Expense
The Company recorded a credit loss expense of
The credit loss expense for loans of
The credit loss expense reduction of
With respect to the allowance for credit losses for loans, we charged-off
We recorded recoveries of
Non-Interest Income
Non-interest income for the three months ended March 31, 2025 was
The increase in unrealized gain/(loss) on equity securities was due to an unrealized gain of
The increase of
The increase in BOLI income of
Non-Interest Expense
Non-interest expense increased
Income Taxes
We recorded income tax expense of
Asset Quality
Non-performing assets were
Our ratio of non-performing assets to total assets remained low at
The Company’s allowance for credit losses related to loans was
In addition, at March 31, 2025, the Company’s allowance for credit losses related to off-balance sheet commitments totaled
Capital
The Company’s total stockholders’ equity to assets ratio 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 March 31, 2025, the Bank had a tier 1 leverage capital ratio of
The Company completed its first stock repurchase program on April 14, 2023 whereby the Company repurchased 1,637,794 shares, or
The Company commenced its second stock repurchase program on May 30, 2023 whereby the Company will repurchase 1,509,218, or
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 eleven branch offices located in Bronx, New York, Orange, Rockland, and Sullivan 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.” These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. 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 (including higher inflation or recessionary conditions and their impact on regional and national economic 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 impacts of tariffs, sanctions and other trade policies of the United States and its global trading counterparts, the quality and composition of the loan or investment portfolios, demand for loan products, decreases in deposit levels necessitating increased borrowing to fund loans and securities, 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, the impact of failures or disruptions in or breaches of the Company’s operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns, 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) | ||||||||
| March 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| (In thousands, except share | ||||||||
| and per share amounts) | ||||||||
| ASSETS | ||||||||
| Cash and amounts due from depository institutions | $ | 11,524 | $ | 13,700 | ||||
| Interest-bearing deposits | 77,934 | 64,559 | ||||||
| Total cash and cash equivalents | 89,458 | 78,259 | ||||||
| Certificates of deposit | 100 | 100 | ||||||
| Equity securities | 23,294 | 21,994 | ||||||
| Securities held-to-maturity ( net of allowance for credit losses of | 14,487 | 14,616 | ||||||
| Loans receivable | 1,725,664 | 1,812,647 | ||||||
| Deferred loan fees, net | (63 | ) | (49 | ) | ||||
| Allowance for credit losses | (5,127 | ) | (4,830 | ) | ||||
| Net loans | 1,720,474 | 1,807,768 | ||||||
| Premises and equipment, net | 24,889 | 24,805 | ||||||
| Investments in restricted stock, at cost | 397 | 397 | ||||||
| Bank owned life insurance | 25,905 | 25,738 | ||||||
| Accrued interest receivable | 12,432 | 13,481 | ||||||
| Real estate owned | 5,120 | 5,120 | ||||||
| Property held for investment | 1,361 | 1,370 | ||||||
| Right of Use Assets – Operating | 3,856 | 4,001 | ||||||
| Right of Use Assets – Financing | 346 | 347 | ||||||
| Other assets | 11,257 | 11,585 | ||||||
| Total assets | $ | 1,933,376 | $ | 2,009,581 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Liabilities: | ||||||||
| Deposits: | ||||||||
| Non-interest bearing | $ | 278,694 | $ | 287,135 | ||||
| Interest bearing | 1,307,321 | 1,383,240 | ||||||
| Total deposits | 1,586,015 | 1,670,375 | ||||||
| Advance payments by borrowers for taxes and insurance | 2,298 | 1,618 | ||||||
| Lease Liability – Operating | 3,972 | 4,108 | ||||||
| Lease Liability – Financing | 619 | 609 | ||||||
| Accounts payable and accrued expenses | 13,262 | 14,530 | ||||||
| Total liabilities | 1,606,166 | 1,691,240 | ||||||
| Stockholders’ equity: | ||||||||
| Preferred stock, | $ | — | $ | — | ||||
| Common stock, | 140 | 140 | ||||||
| Additional paid-in capital | 110,871 | 110,091 | ||||||
| Unearned Employee Stock Ownership Plan (“ESOP”) shares | (5,870 | ) | (6,088 | ) | ||||
| Retained earnings | 221,858 | 213,974 | ||||||
| Accumulated other comprehensive gain | 211 | 224 | ||||||
| Total stockholders’ equity | 327,210 | 318,341 | ||||||
| Total liabilities and stockholders’ equity | $ | 1,933,376 | $ | 2,009,581 | ||||
| NORTHEAST COMMUNITY BANCORP, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) | ||||||||
| Quarter Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| (In thousands, except per share amounts) | ||||||||
| INTEREST INCOME: | ||||||||
| Loans | $ | 36,882 | $ | 36,703 | ||||
| Interest-earning deposits | 1,081 | 1,200 | ||||||
| Securities | 244 | 218 | ||||||
| Total Interest Income | 38,207 | 38,121 | ||||||
| INTEREST EXPENSE: | ||||||||
| Deposits | 13,933 | 12,394 | ||||||
| Borrowings | - | 731 | ||||||
| Financing lease | 10 | 10 | ||||||
| Total Interest Expense | 13,943 | 13,135 | ||||||
| Net Interest Income | 24,264 | 24,986 | ||||||
| Provision for (reversal of) credit loss | 237 | (165 | ) | |||||
| Net Interest Income after Provision for (Reversal of) Credit Loss | 24,027 | 25,151 | ||||||
| NON-INTEREST INCOME: | ||||||||
| Other loan fees and service charges | 740 | 462 | ||||||
| Earnings on bank owned life insurance | 167 | 157 | ||||||
| Unrealized gain (loss) on equity securities | 300 | (82 | ) | |||||
| Other | 28 | 17 | ||||||
| Total Non-Interest Income | 1,235 | 554 | ||||||
| NON-INTEREST EXPENSES: | ||||||||
| Salaries and employee benefits | 5,933 | 5,351 | ||||||
| Occupancy expense | 747 | 707 | ||||||
| Equipment | 217 | 253 | ||||||
| Outside data processing | 735 | 637 | ||||||
| Advertising | 102 | 88 | ||||||
| Real estate owned expense | 30 | 11 | ||||||
| Other | 2,855 | 2,634 | ||||||
| Total Non-Interest Expenses | 10,619 | 9,681 | ||||||
| INCOME BEFORE PROVISION FOR INCOME TAXES | 14,643 | 16,024 | ||||||
| PROVISION FOR INCOME TAXES | 4,076 | 4,650 | ||||||
| NET INCOME | $ | 10,567 | $ | 11,374 | ||||
| NORTHEAST COMMUNITY BANCORP, INC. SELECTED CONSOLIDATED FINANCIAL DATA (Unaudited) | ||||||||
| Quarter Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| (In thousands, except per share amounts) | ||||||||
| Per share data: | ||||||||
| Earnings per share - basic | $ | 0.80 | $ | 0.87 | ||||
| Earnings per share - diluted | 0.78 | 0.86 | ||||||
| Weighted average shares outstanding - basic | 13,192 | 13,118 | ||||||
| Weighted average shares outstanding - diluted | 13,560 | 13,191 | ||||||
| Performance ratios/data: | ||||||||
| Return on average total assets | 2.12 | % | 2.50 | % | ||||
| Return on average shareholders' equity | 12.98 | % | 15.88 | % | ||||
| Net interest income | $ | 24,264 | $ | 24,986 | ||||
| Net interest margin | 5.11 | % | 5.75 | % | ||||
| Efficiency ratio | 41.64 | % | 37.91 | % | ||||
| Net charge-off ratio | (0.05 | )% | 0.00 | % | ||||
| Loan portfolio composition: | March 31, 2025 | December 31, 2024 | ||||||
| One-to-four family | $ | 3,436 | $ | 3,472 | ||||
| Multi-family | 253,018 | 206,606 | ||||||
| Mixed-use | 26,572 | 26,571 | ||||||
| Total residential real estate | 283,026 | 236,649 | ||||||
| Non-residential real estate | 29,198 | 29,446 | ||||||
| Construction | 1,287,225 | 1,426,167 | ||||||
| Commercial and industrial | 123,113 | 118,736 | ||||||
| Consumer | 3,102 | 1,649 | ||||||
| Gross loans | 1,725,664 | 1,812,647 | ||||||
| Deferred loan fees, net | (63 | ) | (49 | ) | ||||
| Total loans | $ | 1,725,601 | $ | 1,812,598 | ||||
| Asset quality data: | ||||||||
| Loans past due over 90 days and still accruing | $ | - | $ | - | ||||
| Non-accrual loans | - | - | ||||||
| OREO property | 5,120 | 5,120 | ||||||
| Total non-performing assets | $ | 5,120 | $ | 5,120 | ||||
| Allowance for credit losses to total loans | 0.30 | % | 0.27 | % | ||||
| Allowance for credit losses to non-performing loans | 0.00 | % | 0.00 | % | ||||
| Non-performing loans to total loans | 0.00 | % | 0.00 | % | ||||
| Non-performing assets to total assets | 0.26 | % | 0.25 | % | ||||
| Bank's Regulatory Capital ratios: | ||||||||
| Total capital to risk-weighted assets | 15.10 | % | 13.92 | % | ||||
| Common equity tier 1 capital to risk-weighted assets | 14.79 | % | 13.65 | % | ||||
| Tier 1 capital to risk-weighted assets | 14.79 | % | 13.65 | % | ||||
| Tier 1 leverage ratio | 15.09 | % | 14.44 | % | ||||
| NORTHEAST COMMUNITY BANCORP, INC. NET INTEREST MARGIN ANALYSIS (Unaudited) | ||||||||||||||||||||||
| Quarter Ended March 31, 2025 | Quarter Ended March 31, 2024 | |||||||||||||||||||||
| Average Balance | Interest and dividend | Average Yield | Average Balance | Interest and dividend | Average Yield | |||||||||||||||||
| (In thousands, except yield/cost information) | (In thousands, except yield/cost information) | |||||||||||||||||||||
| Loan receivable gross | $ | 1,767,849 | $ | 36,882 | 8.35 | % | $ | 1,612,343 | $ | 36,703 | 9.11 | % | ||||||||||
| Securities | 36,751 | 235 | 2.56 | % | 33,848 | 197 | 2.33 | % | ||||||||||||||
| Federal Home Loan Bank stock | 397 | 9 | 9.07 | % | 842 | 21 | 9.98 | % | ||||||||||||||
| Other interest-earning assets | 93,476 | 1,081 | 4.63 | % | 91,552 | 1,200 | 5.24 | % | ||||||||||||||
| Total interest-earning assets | 1,898,473 | 38,207 | 8.05 | % | 1,738,585 | 38,121 | 8.77 | % | ||||||||||||||
| Allowance for credit losses | (4,827 | ) | (5,091 | ) | ||||||||||||||||||
| Non-interest-earning assets | 96,493 | 88,859 | ||||||||||||||||||||
| Total assets | $ | 1,990,139 | $ | 1,822,353 | ||||||||||||||||||
| Interest-bearing demand deposit | $ | 274,630 | $ | 2,445 | 3.56 | % | $ | 171,483 | $ | 1,817 | 4.24 | % | ||||||||||
| Savings and club accounts | 138,903 | 730 | 2.10 | % | 182,771 | 1,202 | 2.63 | % | ||||||||||||||
| Certificates of deposit | 962,084 | 10,758 | 4.47 | % | 810,586 | 9,375 | 4.63 | % | ||||||||||||||
| Total interest-bearing deposits | 1,375,617 | 13,933 | 4.05 | % | 1,164,840 | 12,394 | 4.26 | % | ||||||||||||||
| Borrowed money | - | 10 | 0.00 | % | 61,092 | 741 | 4.85 | % | ||||||||||||||
| Total interest-bearing liabilities | 1,375,617 | 13,943 | 4.05 | % | 1,225,932 | 13,135 | 4.29 | % | ||||||||||||||
| Non-interest-bearing demand deposit | 270,874 | 291,909 | ||||||||||||||||||||
| Other non-interest-bearing liabilities | 18,086 | 18,090 | ||||||||||||||||||||
| Total liabilities | 1,664,577 | 1,535,931 | ||||||||||||||||||||
| Equity | 325,562 | 286,422 | ||||||||||||||||||||
| Total liabilities and equity | $ | 1,990,139 | $ | 1,822,353 | ||||||||||||||||||
| Net interest income / interest spread | $ | 24,264 | 4.00 | % | $ | 24,986 | 4.48 | % | ||||||||||||||
| Net interest rate margin | 5.11 | % | 5.75 | % | ||||||||||||||||||
| Net interest earning assets | $ | 522,856 | $ | 512,653 | ||||||||||||||||||
| Average interest-earning assets | ||||||||||||||||||||||
| to interest-bearing liabilities | 138.01 | % | 141.82 | % | ||||||||||||||||||
FAQ
What was NECB's net income for Q1 2025 compared to Q1 2024?
How did NECB's loan portfolio perform in Q1 2025?
What is NECB's asset quality status as of March 31, 2025?
How did NECB's net interest margin change in Q1 2025?
