CSIMarket
 
Northeast Community Bancorp inc   (NECB)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 
Price: $15.1100 $0.11 0.733%
Day's High: $15.25 Week Perf: -1.82 %
Day's Low: $ 15.00 30 Day Perf: -3.02 %
Volume (M): 99 52 Wk High: $ 18.00
Volume (M$): $ 1,488 52 Wk Avg: $15.32
Open: $15.00 52 Wk Low: $12.50



 Market Capitalization (Millions $) 224
 Shares Outstanding (Millions) 15
 Employees 94
 Revenues (TTM) (Millions $) 95
 Net Income (TTM) (Millions $) 42
 Cash Flow (TTM) (Millions $) 52
 Capital Exp. (TTM) (Millions $) 0

Northeast Community Bancorp Inc

Northeast Community Bancorp, Inc. is a federally chartered stock holding company established on July 5, 2006 to be the holding company for Northeast Community Bank (the “Bank”). Northeast Community Bancorp’s business activity is the ownership of the outstanding capital stock of the Bank. Northeast Community Bancorp does not own or lease any property but instead uses the premises, equipment and other property of the Bank with the payment of appropriate rental fees, as required by applicable law and regulations, under the terms of an expense allocation agreement.

Northeast Community Bancorp, MHC (the “MHC”) is the Company’s federally chartered mutual holding company parent. As a mutual holding company, the MHC is a non-stock company that has as its members the depositors of Northeast Community Bank. The MHC does not engage in any business activity other than owning a majority of the common stock of Northeast Community Bancorp. So long as we remain in the mutual holding company form of organization, the MHC will own a majority of the outstanding shares of Northeast Community Bancorp.

Northeast Community Bank was originally chartered in 1934 as a federal savings association. In 2006, Northeast Community Bank changed its name from “Fourth Federal Savings Bank” to “Northeast Community Bank.” The Bank completed its conversion from a federally-chartered savings bank to a New York State-chartered savings bank effective as of the close of business on June 29, 2012.

We operate as a community-oriented financial institution offering traditional financial services to consumers and businesses in our market area and our lending territory. We attract deposits from the general public and use those funds to originate multi-family residential and mixed-use real estate and non-residential loans, which we hold for investment.

We originate non-owner occupied one- to four-family residential mortgage loans as investment vehicles as an accommodation to develop and/or maintain relationships with our deposit and certain of our multi-family, mixed-use, non-residential, and commercial and industrial loan customers. We offer investment advisory and financial planning services under the name Hayden Wealth Management Group, a division of the Bank, through a networking arrangement with a registered broker-dealer and investment advisor.

We originate loans primarily for investment purposes. The largest segment of our loan portfolio is multi-family residential real estate loans. We also originate mixed-use real estate loans and non-residential loans and in 2007 we began originating commercial and industrial loans. To a limited degree, we make consumer loans. We on occasion originate non-owner occupied one- to four-family residential mortgage loans as investment vehicles as an accommodation to develop and/or maintain relationships with our deposit and certain of our multi-family, mixed-use, non-residential, and commercial and industrial loan customers. We consider our lending territory to be the Northeastern United States, including New York, Massachusetts, New Jersey, Connecticut, Pennsylvania, and New Hampshire.

We have legal authority to invest in various types of liquid assets, including U.S. Treasury obligations, securities of various federal agencies and municipal governments, deposits at the FHLB of New York and certificates of deposit of federally insured institutions. Within certain regulatory limits, we also may invest a portion of our assets in mutual funds.

Our investment management policy is designed to provide adequate liquidity to meet any reasonable decline in deposits and any anticipated increase in the loan portfolio through conversion of secondary reserves to cash and to provide safety of principal and interest through investment in securities under limitations and restrictions prescribed in banking regulations. Consistent with liquidity and safety requirements, our policy is designed to generate a significant amount of stable income and to provide collateral for advances and repurchase agreements. The policy is also designed to serve as a counter-cyclical balance to earnings in that the investment portfolio will absorb funds when loan demand is low and will infuse funds when loan demand is high.

In 2011, we initiated a program under which we acted as a residential mortgage loan broker for nationally recognized third-party mortgage originators. Under this program, our mortgage brokerage team marketed one- to four-family residential mortgage loans, collected loan applications and forwarded such documentation to the third-party mortgage originator who made all credit decisions and originated all loans. We received an agreed upon fee from the third-party mortgage originator upon the closing of the loan. We marketed these services solely through our branch network in Massachusetts. In January 2013, we discontinued this program and laid off our mortgage brokerage staff.



   Company Address: 325 Hamilton Avenue White Plains 10601 NY
   Company Phone Number: 684-2500   Stock Exchange / Ticker: NASDAQ NECB
   NECB is expected to report next financial results on March 29, 2024.


Customers Net Income fell by NECB's Customers Net Profit Margin fell to

-6.39 %

16.88 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BHLB   -2.05%    
CUBI   -7.66%    
FFIC   -7.66%    
MBIN   -9.4%    
TMP   -3.45%    
TRST   -2.95%    
• View Complete Report
   



Northeast Community Bancorp Inc

Northeast Community Bancorp Inc Shines with Impressive Q3 Earnings

Financial news report:
Northeast Community Bancorp Inc, a regional bank, has reported strong financial results for the period between July and September 30, 2023. The company's earnings increased by an impressive 63.27% to $0.80 per share compared to the previous year, driven by a significant growth in revenue of 41.786% to $25.19 million. This growth outperforms its peers in the regional banks sector, who reported an overall 1.18% increase in revenue during the same period.
In the previous quarter, the company had revenue of $24.43 million and $0.75 per share. This shows a continuous growth trend in both revenue and earnings. Net earnings for the July to September 30, 2023 financial period increased by 57.03% to $11.843 million, compared to $7.542 million reported in the same period the previous year.

Dividend

NorthEast Community Bancorp, Inc.: A Beacon of Stability, Declares Quarterly Dividend Amidst Uncertain Times.

Published Thu, Sep 21 2023 7:00 PM UTC



In a move demonstrating stability and resilience, NorthEast Community Bancorp, Inc. (Nasdaq: NECB) has declared a quarterly cash dividend of $0.06 per common share. The announcement by the Company's Board of Directors signifies their commitment to providing returns to shareholders amidst challenging market conditions. This article will delve deeper into the signifi...

Northeast Community Bancorp Inc

Northeast Community Bancorp Inc's Fiscal Performance Raises Concerns Despite Positive Numbers

Despite the recent positive numbers released by Northeast Community Bancorp Inc (NECB), there are several reasons to be bearish about the stock's prospects moving forward. While the company reported impressive revenue growth of 73.519% to $24.43 million in its most recent fiscal period, it is important to note that this growth is in comparison to a particularly weak reporting period a year prior. Furthermore, the increase in revenue was minimal in the first quarter of the year, only advancing by 1.987% from $23.95 million.
Similarly, although NECB's net profit per share showed significant growth of 114.29% to $0.75 per share, this increase is also compared to a relatively low figure from the previous year. In fact, when comparing to the preceding reporting period, net profit per share actually decreased by -2.6% from $0.77 per share. These figures suggest that the recent positive growth may not be sustainable, and the company may struggle to maintain or improve its profitability in the future.

Northeast Community Bancorp Inc

Northeast Community Bancorp Inc Achieves Impressive Results with Strong Q1 Performance

performance and financial standing
Northeast Community Bancorp Inc (NECB) is a financial institution that operates in the northeastern part of the United States. It operates through its subsidiary, Northeast Community Bank, offering a variety of banking services, including deposit products, loans, and mortgages. The company was founded in 1934 and is headquartered in White Plains, New York.
NECB's first-quarter 2023 results show a return on average invested assets (ROI) of 2.9%, higher than the company's average ROI of 2.15%, indicating that the company has earned healthy returns on its investments. However, compared to the previous quarter, ROI fell. Still, the net income grew by 36.08%, promising a strong future for the company.






 

Northeast Community Bancorp Inc's Segments
 
 
• View Complete Report




Help

About us

Advertise

CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research. 
   Copyright © 2024 CSIMarket, Inc. All rights reserved. This site uses cookies to make your browsing experince better. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED (Read about our Privacy Policy)

Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com