secwatch.observer — SEC 8-K summary
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Issuer:     NorthEast Community Bancorp, Inc./MD/ (NECB)
CIK:        0001847398
Form:       8-K
Filed at:   2023-10-30T23:59:59+00:00
Accession:  0001104659-23-112542
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NECB reports Q3 net income $11.8M ($0.80/sh), up 57% YoY; nine-month net income $34.2M up 106%
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- Q3 net income $11.8M ($0.80/sh), up 57% YoY; nine-month net income $34.2M ($2.42), up 106% YoY.
- Net interest income up 43.9% to $25.1M (Q3) and 67.7% to $72.0M (nine months); net interest margin 6.40% and 6.54%.
- Non-performing assets $5.8M (0.34% of assets) vs $1.5M at Dec 31, 2022, driven by $4.4M in two non-performing construction loans.
- Bank well-capitalized (tier 1 leverage 14.70%, total risk-based 13.50%); stock buybacks: first program completed, second bought 610,565 shares for $9.7M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847398/000110465923112542/0001104659-23-112542-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847398/000110465923112542/tm2329351d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-112542

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