Quarterly ResultApr 29, 2026, 02:02 PM
NECB Q1 Net Income $10.0M, EPS $0.76; Loan Commitments +37.8%
AI Summary
NorthEast Community Bancorp, Inc. reported net income of $10.0 million, or $0.76 per basic share, for Q1 2026, down from $10.6 million, or $0.80 per basic share, in Q1 2025. Despite a slight decrease in net interest income, the company highlighted strong performance in its loan portfolio, with construction loan commitments and loans-in-process outstanding increasing by 37.8% year-over-year. Asset quality remains robust with no non-performing loans.
Key Highlights
- Net income for Q1 2026 was $10.0 million, down from $10.6 million in Q1 2025.
- Basic EPS for Q1 2026 was $0.76, compared to $0.80 in Q1 2025.
- Construction loan commitments and loans-in-process increased 37.8% year-over-year.
- Total unfunded loan commitments outstanding exceeded $819 million.
- Return on average total assets was 1.97%; return on average shareholders’ equity was 11.13%.
- Non-performing loans were 0.00% of total assets at March 31, 2026.
- Total stockholders’ equity increased 1.3% to $356.3 million.
- Total deposits increased 0.6% to $1.6 billion; borrowings decreased 71.4% to $20.0 million.