Northeast Community Bancorp Q2 net income $12.8M, EPS $0.97; net interest income +9.2%

NorthEast Community Bancorp, Inc./MD/

2024-Q2 EPS reported $1.83

Q2 net income $12.8M ($0.97 diluted EPS) vs $11.1M ($0.75) in Q2 2023; H1 net income $24.2M ($1.83 diluted) vs $22.3M ($1.56).
Net interest income $26.2M, up 9.2%; net interest margin 5.79%, down 81 bps YoY due to rising deposit costs.
Loans net of allowance grew $121.5M to $1.7B; deposits increased $163.8M to $1.6B; total assets $1.9B, up 9.4%.
ROAA 2.70%, ROAE 17.28%, efficiency ratio 35.24% for Q2; non-performing assets low at 0.30% of total assets.
Bank well-capitalized: tier 1 leverage 14.37%, total risk-based capital 13.66%; second stock repurchase program ongoing.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.