NorthEast Community Bancorp Q3 net income $7.5M ($0.49/share), up 933% YoY; net interest margin expands to 5.88%

NorthEast Community Bancorp, Inc./MD/

2022-Q3 EPS reported $1.07

Net income Q3 2022 $7.5M ($0.49 basic/diluted), up 933% from $730K ($0.05) in Q3 2021.
Net interest income $17.5M (+60% YoY); net interest margin 5.88% vs 4.26% a year ago.
No loan loss provision in Q3; loan portfolio $1.1B with no non-accrual loans at Sept 30, 2022.
Non-interest income $309K (down $223K) due to unrealized loss on equity securities; non-interest expense up 14.1% to $7.8M.
Deposits grew 6.5% to $987.6M; total assets $1.3B; bank remains well-capitalized with tier 1 leverage 16.91%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

NorthEast Community Bancorp, Inc./MD/ reported the three months ended September 30, 2022 results: net income $7.5 million, EPS $0.49 per basic and diluted common share.

Period: the three months ended September 30, 2022
Net income: $7.5 million
EPS: $0.49 per basic and diluted common share
Result: reported results

Exact text from the filing

reported net income of $7.5 million and $16.6 million, or $0.49 and $1.07 per basic and diluted common share, for the three months and nine months ended September 30, 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

NorthEast Community Bancorp, Inc./MD/ reported the nine months ended September 30, 2022 results: net income $16.6 million, EPS $1.07 per basic and diluted common share.

Period: the nine months ended September 30, 2022
Net income: $16.6 million
EPS: $1.07 per basic and diluted common share
Result: reported results

Exact text from the filing

reported net income of $7.5 million and $16.6 million, or $0.49 and $1.07 per basic and diluted common share, for the three months and nine months ended September 30, 2022

View on SEC.gov

Browse all earnings releases →

NorthEast Community Bancorp, Inc./MD/ filing history →

Source: SEC EDGAR

accession 0001104659-22-112976

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.