NorthEast Community Bancorp reported a net income of $10.9 million for Q4 2024, with earnings per basic share at $0.83 and diluted share at $0.80. The company's total assets reached $2.0 billion, marking a 14.0% increase from the previous year. Loan growth remained robust, with a focus on construction lending in high-demand areas.
Net income for Q4 2024 was $10.9 million, or $0.83 per basic share and $0.80 per diluted share.
Total assets increased by 14.0% to $2.0 billion.
Net interest income was $25.3 million, slightly up from $25.2 million in Q4 2023.
The company successfully foreclosed on two non-performing construction loans in the Bronx, NY, transferring the balances to foreclosed real estate.
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.
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