secwatch.observer — SEC 8-K summary
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Issuer:     NorthEast Community Bancorp, Inc./MD/ (NECB)
CIK:        0001847398
Form:       8-K
Filed at:   2024-02-05T23:59:59+00:00
Accession:  0001104659-24-010498
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NECB Q4 net income $12.1M ($0.82/share), FY $46.3M ($3.32); net interest income up 52%
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- Net income Q4 $12.1M vs $8.3M YoY; full year $46.3M vs $24.8M; EPS $0.82 and $3.32 respectively.
- Net interest income increased 20.3% in Q4 and 52.2% for the year; net interest margin 6.06% Q4, 6.41% full year.
- Total assets grew 23.8% to $1.8B; net loans up 30.5% to $1.6B; deposits up 24.8% to $1.4B.
- Non-performing assets $5.8M (0.33% of assets) vs $1.5M (0.10%) at Dec 2022.
- Stock repurchases of $28.7M and dividends of $3.3M in 2023; allowance for credit losses $5.1M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847398/000110465924010498/0001104659-24-010498-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847398/000110465924010498/tm245160d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-010498

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