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Northeast Community Bancorp, Inc. operates as the holding company for NorthEast Community Bank that provides financial services for individuals and businesses. It accepts various deposit instruments, including checking accounts, money market accounts, regular savings accounts, and non-interest-bearing demand accounts, as well as certificates of deposits. The company also offers construction, commercial and industrial loans, multifamily and mixed-use real estate, non-residential real estate loans, and consumer loans. In addition, it invests in various types of liquid assets, including U.S. Treasury obligations, municipal securities, deposits at the Federal Home Loan Bank of New York, and certificates of deposit of federally insured institutions, as well as securities of various federal agencies, and state and municipal governments. Further, the company offers life insurance products and fixed rate annuities. It operates full-service branches located in Bronx, New York, Orange, Rockland, and Sullivan Counties in New York, Essex, Middlesex, and Norfolk Counties in Massachusetts; and loan production offices located in White Plains, New York; New City, New York; and Danvers, Massachusetts. Additionally, the company provides services such as personal loans and overdraft protection, and utilizes brokered, listing service, and military deposits, as well as borrowings, sources of funds, and retail deposit products. Northeast Community Bancorp, Inc. was founded in 1934 and is headquartered in White Plains, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $105M | - | $44M | $51M | 12.6% | -0.7% | -5.7% |
| 2024 | $106M | - | $47M | $48M | 14.8% | 4.6% | 1.7% |
| 2023 | $101M | - | $46M | $42M | 16.6% | 54.2% | 86.3% |
| 2022 | $65M | - | $25M | $24M | 9.5% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 65.46 | 100.95 | 105.55 | 104.83 |
| Operating Revenue | - | 65.46 | 100.95 | 105.55 | 104.83 |
| Selling General And Administration | - | 17.25 | 23.47 | 26.21 | 28.51 |
| Interest Income | - | 72 | 132.49 | 160.01 | 154.12 |
| Interest Expense | - | 8.13 | 35.30 | 57.22 | 53.38 |
| Net Interest Income | - | 63.88 | 97.19 | 102.79 | 100.74 |
| Pretax Income | - | 34.43 | 64.74 | 65.77 | 62.26 |
| Tax Provision | - | 9.59 | 18.46 | 18.70 | 17.85 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.10 | -0.04 | 0.01 | 0 |
| Net Income Continuous Operations | - | 24.84 | 46.28 | 47.07 | 44.41 |
| Net Income From Continuing And Discontinued Operation | - | 24.84 | 46.28 | 47.07 | 44.41 |
| Net Income From Continuing Operation Net Minority Interest | - | 24.84 | 46.28 | 47.07 | 44.41 |
| Net Income | - | 24.84 | 46.28 | 47.07 | 44.41 |
| Net Income Common Stockholders | - | 24.84 | 46.28 | 47.07 | 44.41 |
| Net Income Including Noncontrolling Interests | - | 24.84 | 46.28 | 47.07 | 44.41 |
| Normalized Income | - | 25.10 | 46.39 | 47.06 | 44.42 |
| Diluted NI Availto Com Stockholders | - | 24.84 | 46.28 | 47.07 | 44.41 |
| Basic Average Shares | - | 15.43 | 13.93 | 13.14 | 13.26 |
| Diluted Average Shares | - | 15.73 | 13.94 | 13.36 | 13.66 |
| Reconciled Depreciation | - | 1.25 | 1.22 | 1.19 | 1.17 |
| Total Unusual Items | - | -0.35 | -0.16 | 0.02 | -0.01 |
| Total Unusual Items Excluding Goodwill | - | -0.35 | -0.16 | 0.02 | -0.01 |
| Special Income Charges | - | -0.35 | -0.16 | 0.02 | -0.01 |
| Gain On Sale Of Business | - | 0 | -0.14 | 0 | - |
| Other Special Charges | - | -0.10 | 0.02 | -0.02 | 0.01 |
| Impairment Of Capital Assets | 0 | 0.45 | 0 | - | - |
| Gain On Sale Of Security | - | -1.57 | 0.29 | -0.11 | 0.58 |
| General And Administrative Expense | - | 16.95 | 22.95 | 25.79 | 28.09 |
| Other Gand A | 1.62 | 1.84 | 0.03 | 0.06 | - |
| Salaries And Wages | - | 16.58 | 20.01 | 22.45 | 24.45 |
| Insurance And Claims | - | 0.37 | 2.94 | 3.34 | 3.64 |
| Selling And Marketing Expense | - | 0.30 | 0.52 | 0.42 | 0.43 |
| Occupancy And Equipment | - | 3.54 | 3.65 | 3.72 | 3.86 |
| Professional Expense And Contract Services Expense | - | 2.28 | 1.89 | 1.67 | 2.01 |
| Other Non Interest Expense | - | 7.18 | 6.06 | 7.46 | 8.28 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Northeast Community Bancorp, Inc.this co. | NECB | $340M | 7.65↓ discount | 0.97 | 12.6% | - |
| MVB Financial Corp. | MVBF | $347M | 12.90 | 1.04 | 8.1% | - |
| BayCom Corp | BCML | $342M | 14.31 | 1.01 | 7.1% | - |
| USCB Financial Holdings, Inc. | USCB | $340M | 13.01 | 1.56 | 12.0% | - |
| Avidbank Holdings, Inc. | AVBH |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $338M |
| -17.30 |
| 1.20 |
| -7.0% |
| - |
| Chemung Financial Corporation | CHMG | $336M | 22.26 | 1.32 | 5.9% | - |
| Waterstone Financial, Inc. | WSBF | $336M | 12.72 | 0.96 | 7.6% | - |
| Regional Management Corp. | RM | $331M | 7.45 | 0.89 | 11.9% | - |
| The First Bancorp, Inc. | FNLC | $331M | 9.62 | 1.17 | 12.1% | - |
| Peer Median | - | 12.81 | 1.10 | 7.8% | - | |