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Northeast Community Bancorp inc.  (NECB)
Other Ticker:  
 
    Sector  Financial    Industry S&Ls Savings Banks
   Industry S&Ls Savings Banks
   Sector  Financial

Northeast Community Bancorp Inc's

Competitiveness


 

NECB Sales vs. its Competitors Q2 2022



Comparing the results to its competitors, Northeast Community Bancorp Inc reported Total Revenue increase in the 2 quarter 2022 by 26.19 % year on year.
The sales growth was above Northeast Community Bancorp Inc's competitors average revenue growth of 5.47 %, recorded in the same quarter.

List of NECB Competitors

With net margin of 38.31 % company achieved higher profitability than its competitors.

More on NECB Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


Northeast Community Bancorp inc. Net Income in the 2 quarter 2022 grew year on year by 44.93 %, while most of its competitors have experienced contraction in net income by -6.05 %.

<<  More on NECB Income Comparisons


Northeast Community Bancorp Inc's Comment on Competitors and Industry Peers


We face significant competition for the attraction of deposits. The New York and Boston metropolitan areas have a significant concentration of financial institutions, including large money center and regional banks, community banks and credit unions. Over the past 10 years, consolidation of the banking industry in the New York and Boston metropolitan areas has continued, resulting in larger and increasingly efficient competitors. We also face competition for depositors’ funds from money market funds, mutual funds and other corporate and government securities. At June 30, 2014, which is the most recent date for which data is available from the Federal Deposit Insurance Corporation, we held less than 1.00% of the deposits in each of the counties in New York and Massachusetts in which our offices are located.

We also face significant competition for the origination of loans. Our competition for loans comes primarily from financial institutions in our lending territory, and, to a lesser extent, from other financial service providers such as insurance companies, hedge funds and mortgage companies. As our lending territory is based around densely populated areas surrounding urban centers, we face significant competition from regional banks, savings banks and commercial banks in the New York and Boston metropolitan areas as well as in the other states that we designate as our lending territory. The competition for loans that we encounter, as well as the types of institutions with which we compete, varies from time to time depending upon certain factors, including the general availability of lendable funds and credit, general and local economic conditions, current interest rate levels, volatility in the mortgage markets and other factors which are not readily predictable.

We expect competition to increase in the future as a result of legislative, regulatory and technological changes and the continuing trend of consolidation in the financial services industry. Technological advances, for example, have lowered the barriers to market entry, allowed banks and other lenders to expand their geographic reach by providing services over the Internet and made it possible for non-depository institutions to offer products and services that traditionally have been provided by banks. Competition for deposits and the origination of loans could limit our future growth.



  

Overall company Market Share Q2 2022

Due to strong revenue growth of 26.19 % in Overall company Northeast Community Bancorp inc. improved its market share, to approximate 0.99 %.


<<  More on NECB Market Share.
 
*Market share is calculated based on total revenue.


NECB's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)


COMPANY NAME MARKET CAP
(in millions of $)
REVENUES
(in millions of $)
INCOME
(in millions of $)
EMPLOYEES
Northeast Community Bancorp inc. NECB 192.75 51.00 16.00 94
City Holding Company CHCO 1,322 231.67 90.14 853
The First Of Long Island Corporation FLIC 398 124.15 45.00 302
Bcb Bancorp Inc. BCBP 293 108.47 39.19 331
Brookline Bancorp inc BRKL 902 314.91 194.18 675
Berkshire Hills Bancorp inc. BHLB 1,259 423.18 118.66 1,221
Chemung Financial Corp CHMG 196 93.24 27.99 377
Customers Bancorp Inc. CUBI 992 752.76 352.12 517
Evans Bancorp Inc. EVBN 203 95.79 25.13 258
Greene County Bancorp Inc GCBC 487 66.86 27.99 124
Flushing Financial Corporation FFIC 599 266.72 86.75 427
Financial Institutions Inc. FISI 372 205.59 67.42 691
Pathfinder Bancorp Inc. PBHC 123 45.59 13.58 118
Peoples Financial Services Corp. PFIS 338 112.55 44.49 348
Peapack gladstone Financial Corporation PGC 627 215.73 62.57 316
Patriot National Bancorp Inc PNBK 44 32.71 5.28 95
Tompkins Financial Corp TMP 1,045 304.02 85.08 998
Trustco Bank Corp Ny TRST 602 188.75 67.96 787
Pathward Financial Inc. CASH 971 558.16 151.97 638
Dime Community Bancshares Inc DCOM 1,142 415.24 146.77 340
First Savings Financial Group inc. FSFG 164 120.41 18.83 148
Lake Shore Bancorp Inc. LSBK 77 25.38 6.25 104
CARV 17 27.55 1.90 129
Northfield Bancorp Inc. NFBK 668 162.68 62.18 274
Waterstone Financial Inc. WSBF 359 262.70 44.83 770
Banc Of California Inc. BANC 992 332.42 126.15 1,679
Investors Bancorp Inc ISBC 3,293 884.15 313.33 1,712
Merchants Bancorp MBIN 1,000 421.36 217.78 329
SUBTOTAL 18,677.88 6,844.20 2,459.83 14,655
       
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