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Mar 31, 2022
Northeast Community Bancorp Q1 2022 Earnings Report
Reported net income for the quarter ended March 31, 2022.
Key Takeaways
NorthEast Community Bancorp reported a strong start to 2022, with net income of $3.6 million for the first quarter. The increase in assets was primarily due to increases in net loans and cash and cash equivalents.
Net income was $3.6 million, or $0.23 per basic and diluted common share.
Total assets increased by $56.3 million, or 4.6%, to $1.3 billion.
Cash and cash equivalents increased by $22.4 million, or 14.7%, to $174.7 million.
Loans, net of the allowance for loan losses, increased by $34.1 million, or 3.5%, to $1.0 billion.
Forward Guidance
This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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