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Dec 31, 2023
Northeast Community Bancorp Q4 2023 Earnings Report
Reported strong earnings for Q4 2023 due to the strong performance of the loan portfolio.
Key Takeaways
NorthEast Community Bancorp reported a net income of $12.1 million for Q4 2023, compared to $8.3 million for Q4 2022. The increase was primarily due to the strong performance of the loan portfolio.
Net income for Q4 2023 was $12.1 million, compared to $8.3 million for Q4 2022.
Total assets increased by $339.2 million, or 23.8%, to $1.8 billion at December 31, 2023, from $1.4 billion at December 31, 2022.
Loans, net of the allowance for credit losses, increased by $369.6 million, or 30.5%, to $1.6 billion at December 31, 2023 from $1.2 billion at December 31, 2022.
Net interest income totaled $25.2 million for the three months ended December 31, 2023, as compared to $20.9 million for the three months ended December 31, 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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