Northeast Community Bancorp

Jul 30, 2021

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Jun 30, 2021

Northeast Community Bancorp Q2 2021 Earnings Report

Reported strong earnings for the quarter ended June 30, 2021.

Key Takeaways

NorthEast Community Bancorp reported a net income of $3.7 million for the quarter ended June 30, 2021, compared to $2.5 million for the same period in 2020. Loan demand remained strong, with total assets increasing to $1.1 billion.

Net income reached $3.7 million, up from $2.5 million in the same quarter last year.

Total assets increased to $1.1 billion, reflecting a growth of 11.2% from December 31, 2020.

Loan demand remained strong with originations and outstanding commitments increasing quarter over quarter.

The performance of loan portfolios remained strong with only one loan past due and in foreclosure.

Non-Performing Assets to Assets

0.52%

Tier 1 Leverage Ratio