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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% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 65.46 | 100.95 | 105.55 | 104.83 |
| Pretax Income | 34.43 | 64.74 | 65.77 | 62.26 |
| Tax Provision | 9.59 | 18.46 | 18.70 | 17.85 |
| Net Income | 24.84 | 46.28 | 47.07 | 44.41 |
| Net Income Common Stockholders | 24.84 | 46.28 | 47.07 | 44.41 |
| Interest Expense | 8.13 | 35.30 | 57.22 | 53.38 |
| Interest Income | 72 | 132.49 | 160.01 | 154.12 |
| Selling General And Administration | 17.25 | 23.47 | 26.21 | 28.51 |
| Normalized Income | 25.10 | 46.39 | 47.06 | 44.42 |
| Basic EPS | 1.61 | 3.32 | 3.64 | 3.35 |
| Diluted EPS | 1.58 | 3.32 | 3.58 | 3.25 |
| Tax Effect Of Unusual Items | -0.10 | -0.04 | 0.01 | 0 |
| Tax Rate For Calcs | 0.28 | 0.28 | 0.28 | 0.29 |
| Total Unusual Items | -0.35 | -0.16 | 0.02 | -0.01 |
| Total Unusual Items Excluding Goodwill | -0.35 | -0.16 | 0.02 | -0.01 |
| Net Income From Continuing Operation Net Minority Interest | 24.84 | 46.28 | 47.07 | 44.41 |
| Reconciled Depreciation | 1.25 | 1.22 | 1.19 | 1.17 |
| Net Interest Income | 63.88 | 97.19 | 102.79 | 100.73 |
| Net Income From Continuing And Discontinued Operation | 24.84 | 46.28 | 47.07 | 44.41 |
| Diluted Average Shares | 15.73 | 13.94 | 13.36 | 13.66 |
| Basic Average Shares | 15.43 | 13.93 | 13.14 | 13.26 |
| Diluted NI Availto Com Stockholders | 24.84 | 46.28 | 47.07 | 44.41 |
| Net Income Including Noncontrolling Interests | 24.84 | 46.28 | 47.07 | 44.41 |
| Net Income Continuous Operations | 24.84 | 46.28 | 47.07 | 44.41 |
| Special Income Charges | -0.35 | -0.16 | 0.02 | -0.01 |
| Gain On Sale Of Business | 0 | -0.14 | 0 | 0 |
| Other Special Charges | -0.10 | 0.02 | -0.02 | 0.01 |
| Impairment Of Capital Assets | 0.45 | 0 | 0 | 0 |
| Gain On Sale Of Security | -1.57 | 0.29 | -0.11 | 0.58 |
| Selling And Marketing Expense | 0.30 | 0.52 | 0.42 | 0.43 |
| General And Administrative Expense | 16.95 | 22.95 | 25.79 | 28.09 |
| Other Gand A | 1.84 | 0.03 | 0.06 | 0 |
| Insurance And Claims | 0.37 | 2.94 | 3.34 | 3.63 |
| Salaries And Wages | 16.58 | 20.01 | 22.45 | 24.45 |
| Operating Revenue | 65.46 | 100.95 | 105.55 | 104.83 |
| 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 | 6.07 | 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 | $336M | 7.47↓ discount | 0.86 | 12.6% | - |
| PCB Bancorp | PCB | $343M | 8.65 | 1.06 | 9.6% | - |
| Pioneer Bancorp, Inc. | PBFS | $343M | 16.93 | 1.06 | 6.3% | - |
| USCB Financial Holdings, Inc. | USCB | $336M | 12.52 | 1.54 | 12.0% | - |
| MVB Financial Corp. | MVBF |
| $332M |
| 12.53 |
| 0.98 |
| 8.1% |
| - |
| Waterstone Financial, Inc. | WSBF | $325M | 10.86 | 0.90 | 7.6% | - |
| Value Line, Inc. | VALU | $324M | 14.76 | 3.01 | 20.8% | 40.33 |
| Avidbank Holdings, Inc. | AVBH | $323M | - | 1.12 | -7.0% | - |
| Chemung Financial Corporation | CHMG | $322M | 17.63 | 1.23 | 5.9% | - |
| Peer Median | - | 12.53 | 1.09 | 7.8% | 40.33 | |