secwatch.observer — SEC 8-K summary
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Issuer:     NorthEast Community Bancorp, Inc./MD/ (NECB)
CIK:        0001847398
Form:       8-K
Filed at:   2021-08-02T23:59:59+00:00
Accession:  0001104659-21-098834
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NECB Q2 net income $3.7M ($0.31/sh) vs $2.5M ($0.21) YoY; NIM expands
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- Net income $3.7M ($0.31 per share) in Q2 2021 vs $2.5M ($0.21) in Q2 2020; six-month net income $7.0M ($0.58/sh).
- Net interest income rose 9.1% to $10.4M; net interest margin expanded 18 bps to 4.49%.
- Completed second-step conversion offering with $74.9M in stock subscriptions; total assets up 11.2% to $1.1B.
- Non-performing assets to total assets remained low at 0.52%; allowance for loan losses $5.1M (0.61% of total loans).
- Loan commitments, loans-in-process and standby LCs totaled $785.7M; only $9.5M in loans still in COVID deferral.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847398/000110465921098834/0001104659-21-098834-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847398/000110465921098834/tm2123880d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-098834

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