Loading...
•
Sep 30, 2024
Northeast Community Bancorp Q3 2024 Earnings Report
Reported strong earnings due to the strong performance of the loan portfolio.
Key Takeaways
NorthEast Community Bancorp reported a net income of $12.7 million, or $0.97 per basic share and $0.95 per diluted share, for the three months ended September 30, 2024, compared to a net income of $11.8 million, or $0.80 per basic and diluted share, for the three months ended September 30, 2023.
Net income for the quarter was $12.7 million, or $0.97 per basic share and $0.95 per diluted share.
Total assets increased to $2.0 billion, up 11.6% from December 31, 2023.
Net loans increased by $173.6 million.
Cash and cash equivalents increased by $29.1 million.
Forward Guidance
This press release contains forward-looking statements based on current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties.
Positive Outlook
- Statements regarding anticipated future events.
- Statements including words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend”.
- Statements including future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”
- Statements based upon the current beliefs and expectations of the Company’s management.
- Statements subject to significant risks and uncertainties.
Challenges Ahead
- Changes in market interest rates.
- Regional and national economic conditions (including higher inflation and its impact on regional and national economic conditions).
- Legislative and regulatory changes.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...