NECB corrects prior EPS narrative: Q3 2020 $0.19 (was $0.26), 9M $0.55 (was $0.74)

NorthEast Community Bancorp, Inc./MD/

Corrected EPS for 2020 periods due to failure to restate share count for 1.3400 exchange ratio in second-step conversion.
Q3 2021 net income $730,000 ($0.05 EPS); 9M 2021 net income $7.7M ($0.48 EPS), as originally reported.
No non-performing loans at Sep 30, 2021; non-performing assets 0.18% of total assets.
Charge-off of $3.6M non-residential bridge loan in Q3 2021; recovery efforts ongoing from guarantors.
Bank well-capitalized: Tier 1 leverage 17.07%, total risk-based capital 15.91%.

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