secwatch.observer — SEC 8-K summary
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Issuer:     NorthEast Community Bancorp, Inc./MD/ (NECB)
CIK:        0001847398
Form:       8-K
Filed at:   2022-10-31T23:59:59+00:00
Accession:  0001104659-22-112976
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847398/000110465922112976/0001104659-22-112976-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847398/000110465922112976/tm2229222d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-112976

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