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Jun 30, 2022
Northeast Community Bancorp Q2 2022 Earnings Report
Reported strong earnings due to loan portfolio performance, with loan demand remaining strong despite the pandemic and interest rate increases.
Key Takeaways
NorthEast Community Bancorp reported a net income of $5.4 million, or $0.35 per basic and diluted common share, for the three months ended June 30, 2022, compared to a net income of $3.7 million, or $0.23 per basic and diluted common share, for the three months ended June 30, 2021. The increase in net income was primarily due to the strong performance of the loan portfolio and increased loan demand.
Net income increased to $5.4 million, or $0.35 per share, compared to $3.7 million, or $0.23 per share, for the same period last year.
Total assets decreased slightly by 0.3% to $1.2 billion.
Net interest income increased by 30.5% to $13.5 million.
Non-performing assets to total assets ratio remained low at 0.23%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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