Welcome to our dedicated page for Northeast Cmnty Bancorp news (Ticker: NECB), a resource for investors and traders seeking the latest updates and insights on Northeast Cmnty Bancorp stock.
NorthEast Community Bancorp Inc (NECB) delivers community-focused banking services across the Northeastern U.S., combining personalized financial solutions with modern digital platforms. This news hub provides investors and stakeholders with essential updates directly from the institution.
Access timely information on earnings announcements, regulatory filings, and strategic initiatives. Our curated collection includes press releases about loan portfolio developments, leadership changes, and technological advancements in NECB's operations.
Key updates cover quarterly financial results, merger/acquisition activity, and new product launches. Stay informed about the bank's community reinvestment programs and risk management practices through verified corporate communications.
Bookmark this page for streamlined access to NECB's official announcements. Check regularly for critical updates affecting market positioning and community banking trends in the Northeast region.
NorthEast Community Bancorp (Nasdaq: NECB) reported a net income of $3.6 million or $0.23 per share for Q1 2022, up from $3.2 million or $0.20 per share in Q1 2021. Net interest income increased 15.2% to $11.9 million, fueled by a strong loan portfolio performance and increased loan originations totaling $121.8 million. Total assets rose 4.6% to $1.3 billion, and total deposits increased 7.0% to $991.9 million. Low non-performing assets at 0.16% and strong capital ratios indicate robust asset quality.
NorthEast Community Bancorp, Inc. (NASDAQ: NECB) has declared a quarterly cash dividend of $0.06 per common share, scheduled for payment on or about May 6, 2022. Shareholders of record as of the close of business on April 8, 2022 will be eligible for this dividend. The company operates through its subsidiary, NorthEast Community Bank, which features seven branches in New York and three in Massachusetts. This dividend reflects the company's ongoing commitment to returning value to shareholders.
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.
NorthEast Community Bancorp (NECB) has declared a quarterly cash dividend of $0.06 per common share, payable on or about February 5, 2022, to shareholders of record as of January 3, 2022. The company operates full-service branches in New York and Massachusetts and offers various financial services. This announcement reflects the company's commitment to returning value to its shareholders, amidst ongoing economic challenges.
NorthEast Community Bancorp (NECB) reported net income of $730,000 for Q3 2021, down from $3.1 million in Q3 2020. Year-to-date, net income is $7.7 million, a decrease compared to $8.9 million last year. Strong loan demand led to total assets rising to $1.1 billion, a 14.4% increase. Non-performing assets fell to 0.18% of total assets. The company’s second-step conversion offering boosted stockholders’ equity by $88.4 million. Despite challenges in income, the bank's loan quality remains solid with low defaults.
NorthEast Community Bancorp (NECB) reported a write-down of a non-performing loan worth $3.5 million, secured by commercial real estate in Greenwich, CT. The loan is currently in foreclosure, with recovery from guarantors expected but uncertain. A provision for loan losses will be recorded to replenish the bank's allowance, maintaining a total around $5.1 million. Despite this setback, NECB anticipates a net income of approximately $730,000 for Q3 2021, with no non-performing assets expected post-write-down. Financial results will be announced during the week of October 24, 2021.
NorthEast Community Bancorp, Inc. (NasdaqCM: NECB) announced a quarterly cash dividend of $0.06 per share. This dividend will be paid on or about November 8, 2021, to shareholders of record as of the close of business on October 25, 2021. NorthEast Community Bank operates six branches in New York and three in Massachusetts, providing various financial services.
NorthEast Community Bancorp reported a strong financial performance for the second quarter of 2021, with net income rising to $3.7 million from $2.5 million in the same period last year, translating to $0.31 per share. Total assets increased to $1.1 billion, up 11.2% year-to-date, driven by a 136.8% rise in cash and cash equivalents. The company maintained a low non-performing assets ratio of 0.52% and issued a modest provision for loan losses of $17,000. Deposits grew by 3.5% to $798.8 million, reflecting robust loan demand despite COVID-19 challenges.
NorthEast Community Bancorp has declared a quarterly cash dividend of $0.06 per common share, marking its first dividend payment since converting to a stock holding company. The dividend will be paid on August 16, 2021, to shareholders of record as of August 2, 2021. Chairman Kenneth A. Martinek expressed commitment to enhancing shareholder value through consistent dividend payments, contingent on the company's financial stability.
