---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-054973"
form_type: "8-K"
ticker: "NECB"
cik: "0001847398"
company_name: "NorthEast Community Bancorp, Inc./MD/"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:49:06.325094+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NECB reports Q1 net income $11.2M ($0.77 EPS), up 208% YoY from $3.6M ($0.23)

## Summary
- Net income $11.2M ($0.77 per share) for Q1 2023 vs $3.6M ($0.23) in Q1 2022, a 208.5% increase.
- Net interest income $22.8M (+91.5% YoY); net interest margin widened to 6.63% from 4.08%.
- Total assets $1.5B (+5.5% from Dec 2022); net loans $1.3B (+8.1%) driven by $176.4M in construction loans.
- Completed stock repurchase of 1,637,794 shares (10% of outstanding) for $23.0M on April 14, 2023.
- No non-accrual loans; non-performing assets at 0.10% of total assets; allowance for credit losses 0.31% of loans.

## SEC filing metadata
- accession: 0001104659-23-054973
- form_type: 8-K
- ticker: NECB
- cik: 0001847398
- company_name: NorthEast Community Bancorp, Inc./MD/
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1847398/000110465923054973/0001104659-23-054973-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1847398/000110465923054973/tm2314391d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-054973
- JSON: https://secwatch.observer/filing/0001104659-23-054973.json
- Plain text: https://secwatch.observer/filing/0001104659-23-054973.txt

## Key facts
- Earnings Releases
  NorthEast Community Bancorp, Inc./MD/ reported for the three months ended March 31, 2023 results: net income $11.2 million, EPS $0.77 per basic and diluted common share.
  - Period: for the three months ended March 31, 2023
  - Net income: $11.2 million
  - EPS: $0.77 per basic and diluted common share
  - Result: reported results
  source text: On May 1, 2023, NorthEast Community Bancorp, Inc. (the “Company”) issued a press release announcing its financial results for the three months ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1847398/000110465923054973/0001104659-23-054973-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.