Northeast Community Bancorp

Feb 04, 2022

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Dec 31, 2021

Northeast Community Bancorp Q4 2021 Earnings Report

Reported steady earnings and good asset quality for the quarter, with loan demand remaining strong.

Key Takeaways

NorthEast Community Bancorp reported a net income of $4.2 million, or $0.27 per basic and diluted common share, for the quarter ended December 31, 2021, compared to a net income of $3.5 million, or $0.22 per basic and diluted common share, for the quarter ended December 31, 2020. Total assets increased by $256.8 million, or 26.5%, to $1.2 billion at December 31, 2021.

Net income for Q4 2021 was $4.2 million, up from $3.5 million in Q4 2020.

Total assets increased by $256.8 million to $1.2 billion at the end of 2021.

Cash and cash equivalents increased by $83.1 million to $152.3 million.

Loans, net of allowance for loan losses, increased by $148.4 million to $968.1 million.