NECB Q3 net income $12.7M ($0.95 diluted), up 7.6% YoY; ROA 2.62%

NorthEast Community Bancorp, Inc./MD/

2024-Q3 EPS reported $2.78

Net income $12.7M ($0.95 diluted EPS) vs $11.8M ($0.80) in Q3 2023; nine-month net income $36.9M ($2.78).
Net interest income $26.3M (+4.6% YoY); net interest margin 5.68%, down 72 bps from 6.40%.
Total assets $2.0B (+11.6% from Dec 2023); net loans $1.8B (+11.0%); deposits $1.6B (+16.3%).
Non-performing assets 0.27% of total assets; allowance for credit losses $4.8M (0.27% of loans).
Stock repurchases $2.5M, dividends $6.7M YTD; bank well-capitalized, Tier 1 leverage 14.76%.

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