Northeast Community Bancorp

Northeast Community Bancorp, Inc. operates as a bank holding company. The firm offers a comprehensive line of banking products and services, including mobile banking, commercial real estate loans, commercial construction financing, lines of credit and term loans. Its business banking services include remote deposit, online banking and bill payment, online financial management tools, ACH services, business checking, sweep accounts, overdraft protection and wealth management services. The company was founded on July 5, 2006 and is headquartered in White Plains, NY.

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Northeast Community Bancorp, Inc. is a bank holding company, which offers a comprehensive line of banking products and services, including mobile banking, commercial real estate loans, commercial construction financing, lines of credit, and term loans. Its business banking services include remote deposit, online banking and bill payment, online financial management tools, ACH services, business checking, sweep accounts, overdraft protection, and wealth management services. The company was founded on July 5, 2006 and is headquartered in White Plains, NY.

WHITE PLAINS, N.Y., April 27, 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 $3.6 million, or $0.23 per basic and diluted common share, for the quarter ended March 31, 2022 compared to net income of $3.2 million, or $0.20 per basic and diluted common share, for the quarter ended March 31, 2021.

NorthEast Community Bancorp, Inc. Reports Results for the Quarter and Year Ended March 31, 2022

Northeast Community Bancorp (NECB) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.

Here's Why Northeast Community Bancorp (NECB) Looks Ripe for Bottom Fishing

Northeast Community Bancorp (NECB) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Northeast Community Bancorp (NECB) Moves to Strong Buy: Rationale Behind the Upgrade

WHITE PLAINS, N.Y., March 24, 2022 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc. (the “Company”) (Nasdaq: NECB) announced today that its Board of Directors has declared a quarterly cash dividend of $0.06 per common share. The dividend will be paid on or about May 6, 2022 to shareholders of record as of the close of business on April 8, 2022.

NorthEast Community Bancorp, Inc. Announces Quarterly Cash Dividend

Northeast Community Bancorp (NECB) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.

Here's Why Northeast Community Bancorp (NECB) Is a Great 'Buy the Bottom' Stock Now

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Northeast Community Bancorp (NECB) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

What Makes Northeast Community Bancorp (NECB) a New Buy Stock

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 $4.2 million, or $0.27 per basic and diluted common share, for the quarter ended December 31, 2021 compared to net income of $3.5 million, or $0.22 per basic and diluted common share, for the quarter ended December 31, 2020.

NorthEast Community Bancorp, Inc. Reports Results for the Quarter and Year Ended December 31, 2021

WHITE PLAINS, N.Y., Nov. 02, 2021 (GLOBE NEWSWIRE) -- The basic and diluted earnings per common share in the first paragraph should read $0.19 and $0.55 for the three and nine months ended September 30, 2020, respectively.

CORRECTING and REPLACING: Northeast Community Bancorp, Inc. Reports Results for the Quarter Ended September 30, 2021

WHITE PLAINS, N.Y., Oct. 29, 2021 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the “Company”), the parent holding company of NorthEast Community Bank (the “Bank”), reported net income of $730,000 and $7.7 million, or $0.05 and $0.48 per basic and diluted common share, for the three months and nine months ended September 30, 2021, respectively, compared to net income of $3.1 million and $8.9 million, or $0.26 and $0.74 per basic and diluted common share, for the three months and nine months ended September 30, 2020, respectively.

NorthEast Community Bancorp, Inc. Reports Results for the Quarter Ended September 30, 2021

WHITE PLAINS, N.Y., Oct. 12, 2021 (GLOBE NEWSWIRE) -- As previously reported, NorthEast Community Bancorp, Inc. (NasdaqCM: NECB) (the “Company”), the parent company of NorthEast Community Bank, had one non-performing loan as of June 30, 2021 that was a non-residential real estate loan with a balance of  $3.593 million that is secured by commercial real estate located in Greenwich, Connecticut and guaranteed by the two borrowers. The loan was originated in 2016 as a two-year bridge loan and, upon the borrower's failure to satisfy the loan at the maturity date, the loan was accelerated and a foreclosure action was instituted. The loan remains in foreclosure but is subject to Connecticut's continuing foreclosure moratorium and backlog. The property securing the loan is subject to a parking easement and based on a recently updated appraisal showing the property's value with the parking easement to be zero, the Company has determined to write off the $3.5 million loan. The write down is a non-cash charge. The Company intends to aggressively seek recovery of all amounts due from the personal guarantors of the foreclosed loan. However, the recovery process is uncertain, and it may 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 loan loss provision and taken back into income at such time.

NorthEast Community Bancorp, Inc. to Record Loan Write Down in Third Quarter

WHITE PLAINS, N.Y., July 30, 2021 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc. (NasdaqCM: NECB) (the “Company”), the parent holding company of NorthEast Community Bank (the “Bank”) reported net income of $3.7 million and $7.0 million, or $0.31 and $0.58 per basic and diluted common share, for the three months and six months ended June 30, 2021, respectively, compared to net income of $2.5 million and $5.7 million, or $0.21 and $0.48 per basic and diluted common share, for the three months and six months ended June 30, 2020, respectively.

NorthEast Community Bancorp, Inc. Reports Results for the Quarter Ended June 30, 2021

WHITE PLAINS, New York, July 22, 2021 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc. (the “Company”) (NasdaqCM: NECB) announced today that its Board of Directors has declared a quarterly cash dividend of $0.06 per common share. The dividend will be paid on or about August 16, 2021 to shareholders of record as of the close of business on August 2, 2021.

NorthEast Community Bancorp, Inc. Announces Initial Quarterly Cash Dividend

WHITE PLAINS, N.Y., July 12, 2021 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc., a Maryland corporation (the “Company”) (NasdaqCM: NECB), announced today that it has completed its “second-step” conversion pursuant to which NorthEast Community Bancorp, MHC has converted to the stock holding company form of organization. The Company, the new stock holding company for NorthEast Community Bank (the “Bank”), sold 9,784,077 shares of common stock at $10.00 per share, for gross offering proceeds of $97.8 million in its subscription offering.

NorthEast Community Bancorp, Inc. Announces Completion of Second-Step Conversion and Subscription Offering

WHITE PLAINS, N.Y., July 09, 2021 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc., a federally chartered corporation (the “Mid-Tier Holding Company”) (OTC: NECB), the parent company for NorthEast Community Bank (the “Bank'), today announced the results of the subscription offering conducted in connection with the “second step” conversion of its mutual holding company parent, NorthEast Community Bancorp, MHC (the “MHC”). The closing of the conversion and offering, which is expected to occur on July 12, 2021, is subject to the satisfaction of customary closing conditions.

Northeast Community Bancorp, Inc. Announces Second-Step Conversion Offering Results and Expected Closing Date

WHITE PLAINS, N.Y., Feb. 03, 2021 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc. (OTC: NECB) (the “Company”), a majority owned subsidiary of NorthEast Community Bancorp, MHC (the “MHC”), and the parent holding company of NorthEast Community Bank (the “Bank”), reported net income of $3.46 million for the quarter ended December 31, 2020 compared to net income of $2.95 million for the quarter ended December 31, 2019.

NorthEast Community Bancorp, Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2020

News for Northeast Community Bancorp Stock (NECB)