NASDAQ$NECB
Northeast Community Bancorp Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported strong earnings for Q2 2023, driven by loan portfolio performance and despite interest rate increases.
NorthEast Community Bancorp reported a strong second quarter with net income significantly increased compared to the same period last year, driven by the robust performance of its loan portfolio and strategic focus on construction lending for affordable housing.
- Net income increased to $11.1 million, or $0.75 per share, compared to $5.4 million, or $0.35 per share, in the same quarter last year.
- Total assets grew by 13.4% to $1.6 billion, driven by increases in net loans and cash equivalents.
- Net interest income rose by 77.4% to $24.0 million, due to an increase in interest income offset by an increase in interest expense.
- Non-interest income increased by 90.3% to $1.0 million, primarily due to an increase in BOLI income and a decrease in unrealized loss on equity securities.
Headline financials
Revenue & EPS history
Northeast Community Bancorp · Revenue · Quarterly
$25M
Forward guidance
This press release contains forward-looking statements based on current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties.
Tailwinds
- Statements regarding anticipated future events.
- Statements including words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend”.
- Statements including future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”
- Statements are based upon the current beliefs and expectations of the Company’s management.
- Statements are subject to significant risks and uncertainties.
Headwinds
- Changes in market interest rates.
- Regional and national economic conditions (including higher inflation and its 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 quality and composition of the loan or investment portfolios.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.1%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+2.2%
Avg return
30 days after
66%
25 / 38 earnings
Positive
+20.1%
Q2 2010
Best reaction
-12.8%
Q1 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.5% | -0.5% | -0.2% | |
| Q4 2025 | +0.9% | +7.8% | +6.0% | |
| Q3 2025 | -0.1% | -3.0% | +5.3% | |
| Q2 2025 | -0.9% | -1.4% | -3.3% | |
| Q1 2025 | +1.2% | +0.8% | -1.0% | |
| Q4 2024 | -0.6% | +4.6% | -4.6% | |
| Q3 2024 | -0.8% | -5.0% | +10.7% | |
| Q2 2024 | +9.9% | +12.5% | +7.2% | |
| Q1 2024 | +2.8% | +2.1% | +12.2% | |
| Q4 2023 | -2.4% | -6.4% | -9.8% | |
| Q3 2023 | +7.1% | +5.4% | +17.3% | |
| Q2 2023 | +3.2% | +2.6% | +3.3% | |
| Q1 2023 | +0.3% | -1.1% | +1.8% | |
| Q4 2022 | +2.3% | +1.3% | +2.3% | |
| Q3 2022 | +1.4% | +2.8% | +8.8% | |
| Q2 2022 | +0.2% | +1.3% | +6.1% | |
| Q1 2022 | +0.7% | +0.9% | +1.8% | |
| Q4 2021 | +2.2% | +9.7% | +4.6% | |
| Q3 2021 | +1.4% | +1.7% | -1.2% | |
| Q2 2021 | -0.2% | -0.5% | +0.5% | |
| Q1 2021 | -0.4% | -0.4% | -9.9% | |
| Q4 2020 | -0.4% | -0.4% | -9.9% | |
| Q1 2014 | +3.4% | — | — | |
| Q3 2013 | +0.2% | — | — | |
| Q2 2013 | -0.6% | — | — | |
| Q1 2013 | +0.0% | — | — | |
| Q4 2012 | +0.8% | — | — | |
| Q3 2012 | +0.2% | — | — | |
| Q2 2012 | +3.0% | — | — | |
| Q1 2012 | +0.5% | — | — | |
| Q4 2011 | +1.4% | — | — | |
| Q3 2011 | +1.8% | — | — | |
| Q2 2011 | +0.2% | — | — | |
| Q1 2011 | +0.2% | — | — | |
| Q4 2010 | +2.4% | — | — | |
| Q3 2010 | -1.4% | — | — | |
| Q2 2010 | +20.1% | — | — | |
| Q1 2010 | -12.8% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro