Quarterly ResultAug 7, 2026, 08:57 AM
NorthEast Community Bancorp Q2 Net Income Down 12.3% to $9.8M
AI Summary
NorthEast Community Bancorp reported a decrease in net income and basic earnings per share for the second quarter and first six months of 2026 compared to the same periods in 2025. Net interest income also saw a slight decline, while the provision for credit losses increased significantly. Despite the profit decline, the company experienced growth in total assets and loans receivable, though total deposits decreased, leading to a substantial increase in borrowings.
Key Highlights
- Net income for Q2 2026 decreased by 12.3% to $9.8 million from $11.2 million in Q2 2025.
- Basic EPS for Q2 2026 was $0.75, down from $0.85 in Q2 2025.
- Net interest income for Q2 2026 decreased by 1.7% to $24.7 million from $25.1 million in Q2 2025.
- Provision for credit loss increased significantly to $860K in Q2 2026 from $0 in Q2 2025.
- Total assets increased by 2.5% to $2.12 billion as of June 30, 2026, from $2.06 billion at December 31, 2025.
- Total deposits decreased by 5.0% to $1.54 billion as of June 30, 2026, from $1.62 billion at December 31, 2025.
- Borrowings increased by 171.4% to $190.0 million as of June 30, 2026, from $70.0 million at December 31, 2025.
- Loans receivable grew by 3.2% to $1.92 billion as of June 30, 2026, from $1.86 billion at December 31, 2025.
Price Impact
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