Northeast Community Bancorp Inc · Q3 2021 earnings

Briefing

Reported net income due to strong loan portfolio and increased total assets.

NorthEast Community Bancorp reported a net income of $730,000 for the quarter ended September 30, 2021. The company's loan portfolio remained strong with no loans past due and in foreclosure. Total assets increased by $139.8 million to $1.1 billion.

• Net income for the quarter was $730,000, or $0.05 per basic and diluted common share.
• Total assets increased by $139.8 million, or 14.4%, to $1.1 billion.
• Loans, net of the allowance for loan losses, increased by $84.8 million, or 10.3%, to $904.6 million.
• Net interest income increased by $1.1 million, or 11.3%, to $10.9 million.

Headline financials

Revenue & EPS history

This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”