---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-125385"
form_type: "8-K"
ticker: "NECB"
cik: "0001847398"
company_name: "NorthEast Community Bancorp, Inc./MD/"
filed_at: "2021-10-12T23:59:59+00:00"
generated_at: "2026-06-28T21:36:13.958161+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Northeast Community Bancorp writes off $3.5M non-performing loan; Q3 net income ~$730k

## Summary
- Write-off of $3.5M non-residential real estate loan secured by Greenwich, CT property.
- Appraisal showed property value zero due to parking easement; loan was in foreclosure.
- Expects to record loan loss provision at least equal to write-off to replenish $5.1M allowance.
- After charge-off, company expects no nonperforming assets at Sept. 30, 2021.
- Q3 net income estimated at ~$730,000, adversely affected by the write-down and provision.

## SEC filing metadata
- accession: 0001104659-21-125385
- form_type: 8-K
- ticker: NECB
- cik: 0001847398
- company_name: NorthEast Community Bancorp, Inc./MD/
- filed_at: 2021-10-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1847398/000110465921125385/0001104659-21-125385-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1847398/000110465921125385/tm2129807d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-125385
- JSON: https://secwatch.observer/filing/0001104659-21-125385.json
- Plain text: https://secwatch.observer/filing/0001104659-21-125385.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.