NECB Q4 net income doubles to $8.3M; EPS $0.54; net interest margin 6.64%

NorthEast Community Bancorp, Inc./MD/

2022-FY EPS reported $1.58

Q4 2022 net income $8.3M ($0.54/diluted share) vs $4.2M ($0.27) in Q4 2021; FY net income $24.8M ($1.58 diluted) vs $11.9M ($0.75).
Net interest income rose 79.6% to $20.9M for Q4; net interest margin expanded 232 bps to 6.64%.
Total assets grew 16.3% to $1.4B; net loans increased 25.2% to $1.2B; deposits rose 21.0% to $1.1B.
No non-accrual loans at Dec 31, 2022; non-performing assets ratio 0.10%.
Loan loss provision of $439K in Q4 (none in prior year) due to $426K charge-off; equity securities unrealized loss $267K.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

NorthEast Community Bancorp, Inc./MD/ reported the three months ended December 31, 2022 results: net income $8.3 million, EPS $0.54 per basic and diluted common share.

Period: the three months ended December 31, 2022
Net income: $8.3 million
EPS: $0.54 per basic and diluted common share
Result: reported results

Exact text from the filing

reported net income of $8.3 million, or $0.54 per basic and diluted common share, for the three months ended December 31, 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

NorthEast Community Bancorp, Inc./MD/ reported the year ended December 31, 2022 results: net income $24.8 million, EPS $1.61 and $1.58 per basic and diluted common share.

Period: the year ended December 31, 2022
Net income: $24.8 million
EPS: $1.61 and $1.58 per basic and diluted common share
Result: reported results

Exact text from the filing

For the year ended December 31, 2022, the Company reported net income of $24.8 million, or $1.61 and $1.58 per basic and diluted common share

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

Source: SEC EDGAR

accession 0001104659-23-009205

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