secwatch.observer — SEC 8-K summary
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Issuer:     NorthEast Community Bancorp, Inc./MD/ (NECB)
CIK:        0001847398
Form:       8-K
Filed at:   2023-02-01T23:59:59+00:00
Accession:  0001104659-23-009205
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847398/000110465923009205/0001104659-23-009205-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847398/000110465923009205/tm235039d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-009205

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