secwatch.observer — SEC 8-K summary
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Issuer:     NorthEast Community Bancorp, Inc./MD/ (NECB)
CIK:        0001847398
Form:       8-K/A
Filed at:   2021-11-03T23:59:59+00:00
Accession:  0001104659-21-133529
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847398/000110465921133529/0001104659-21-133529-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847398/000110465921133529/tm2131768d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-133529

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer