earnings
confidence high
sentiment negative
materiality 0.70
NECB Q2 net income falls to $9.8M ($0.72 diluted) from $11.2M; NIM down 21 bps
NorthEast Community Bancorp, Inc./MD/
- Net income $9.8M vs $11.2M YoY; diluted EPS $0.72 vs $0.82.
- Net interest margin 5.14% vs 5.35%; net interest income $24.7M, down 1.7%.
- Credit loss expense $860K vs $0; charge-offs $520K on a C&I loan.
- Construction loan commitments up 38.9% YoY; total loans net $1.9B (+3.2%).
- Deposits down 5% as brokered CDs cut $129M; borrowings up 171% to $190M.