Quarterly ResultOct 23, 2026, 11:06 AM
NorthEast Community Bancorp Q3 Net Income Falls to $10.7M; Loan Growth Continues
AI Summary
NorthEast Community Bancorp reported a decrease in net income for both the third quarter and the first nine months of 2026 compared to the previous year. Q3 net income was $10.7 million ($0.81/share) versus $11.9 million ($0.90/share) in Q3 2025, and nine-month net income was $30.4 million ($2.31/share) versus $33.6 million ($2.54/share). The company highlighted growth in its loan portfolio, particularly construction loans, and an increase in total deposits. However, non-performing assets emerged in Q3 2026, totaling $17.4 million.
Key Highlights
- Net income for Q3 2026 was $10.7 million ($0.81/share), down from $11.9 million ($0.90/share) in Q3 2025.
- Nine-month net income was $30.4 million ($2.31/share), down from $33.6 million ($2.54/share) in the prior year.
- Total assets grew 7.4% to $2.2 billion at Sept 30, 2026, driven by an 8.6% increase in net loans to $2.0 billion.
- Construction loan commitments and loans-in-process increased 18.2% year-over-year to over $763 million.
- Total deposits increased 12.5% to $1.8 billion at Sept 30, 2026.
- Non-performing assets were $17.4 million at Sept 30, 2026, compared to none at Dec 31, 2025.
- The company repurchased 239,894 shares for $5.6 million under its third stock repurchase program as of Sept 30, 2026.
Price Impact
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