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Northeast Community Bancorp, Inc. - NECB STOCK NEWS

Welcome to our dedicated page for Northeast Community Bancorp news (Ticker: NECB), a resource for investors and traders seeking the latest updates and insights on Northeast Community Bancorp stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Northeast Community Bancorp's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Northeast Community Bancorp's position in the market.

Rhea-AI Summary

NorthEast Community Bancorp reported strong Q3 2024 financial results with net income of $12.7 million ($0.97 per basic share), up from $11.8 million in Q3 2023. For the nine months ended September 30, 2024, net income reached $36.9 million ($2.81 per basic share) compared to $34.2 million in the same period 2023. Total assets increased 11.6% to $2.0 billion, driven by net loan growth of $173.6 million and increased cash equivalents. The bank maintained strong performance metrics with a 2.62% return on assets and 16.48% return on equity. Net interest income grew by 4.6% to $26.3 million in Q3 2024, despite challenging interest rate conditions.

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End-of-Day
1.58%
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Rhea-AI Summary

NorthEast Community Bancorp (NECB) has announced two significant dividend updates. Firstly, the Board of Directors has declared a special cash dividend of $0.15 per share on outstanding common stock. Secondly, they have approved an increase in the quarterly cash dividend from $0.10 to $0.15 per share.

Both the increased quarterly dividend and the special cash dividend will be paid on or about November 6, 2024, to shareholders of record as of the close of business on October 4, 2024. Chairman and CEO Kenneth A. Martinek stated that this move represents part of their long-term commitment to enhancing shareholder value.

NorthEast Community Bancorp operates through eleven branch offices in New York and Massachusetts, along with three loan production offices.

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End-of-Day
2.42%
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dividends
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Rhea-AI Summary

NorthEast Community Bancorp, Inc. (Nasdaq: NECB) reported strong financial results for the three and six months ended June 30, 2024.

For Q2 2024, net income was $12.8 million, or $0.98 per basic share, up from $11.1 million, or $0.75 per basic share, in Q2 2023. For the first half of 2024, net income was $24.2 million, or $1.84 per basic share, compared to $22.3 million, or $1.56 per basic share, in the same period of 2023.

Key metrics: return on average assets at 2.70%, return on average equity at 17.28%, and an efficiency ratio of 35.24% for Q2 2024.

Total assets rose to $1.9 billion, driven by a $121.5 million increase in net loans and a $45.2 million rise in cash and cash equivalents.

Loan originations totaled $364.7 million with significant contributions from construction loans.

Total deposits increased by $163.8 million to $1.6 billion.

Stockholders' equity grew by $20.7 million to $300.0 million.

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Rhea-AI Sentiment
End-of-Day
6.39%
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Rhea-AI Summary

NorthEast Community Bancorp (Nasdaq: NECB) has declared a quarterly cash dividend of $0.10 per common share. This dividend is scheduled for payment on August 6, 2024, to shareholders recorded by July 5, 2024. NorthEast Community Bancorp is the holding company for NorthEast Community Bank, which operates through eleven branches in New York and Massachusetts, and three loan production offices. The company is headquartered in White Plains, New York.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.07%
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Rhea-AI Summary
NorthEast Community Bancorp, Inc. reported net income of $11.4 million for Q1 2024, with a strong loan portfolio performance. Key metrics include a return on average assets of 2.50%, a return on average equity of 15.88%, and an efficiency ratio of 37.91%. Total assets increased to $1.9 billion, with net interest income up by 9.4% to $25.0 million. Deposits rose by $112.0 million, and stockholders' equity increased by $9.6 million. Non-performing assets remained low at 0.31% of total assets, and the Company's capital position is strong.
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Rhea-AI Sentiment
End-of-Day
1.62%
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Rhea-AI Summary
NorthEast Community Bancorp, Inc. (NECB) declares a quarterly cash dividend of $0.10 per common share.
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End-of-Day
0.85%
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dividends
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NorthEast Community Bancorp, Inc. schedules annual stockholders meeting for May 23, 2024. Record date set for April 4, 2024. Proxy materials to be sent to stockholders.
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-2.14%
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Rhea-AI Summary
NorthEast Community Bancorp, Inc. (Nasdaq: NECB) reported strong financial results for the fourth quarter and year ended December 31, 2023, with net income increasing by 46.4% and 86.3% respectively. Total assets increased by 23.8% to $1.8 billion, and net interest income increased by 20.3% and 52.2% for the same periods. Loan originations during 2023 resulted in a net increase of $288.8 million in construction loans, contributing to the growth in the loan portfolio. However, the increase in assets was partially due to a decrease in cash and cash equivalents, and the company recorded credit loss expenses totaling $972,000 for the year ended December 31, 2023.
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-1.1%
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Rhea-AI Summary
NorthEast Community Bancorp, Inc. (NECB) Declares Quarterly Cash Dividend of $0.06 per Common Share
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.17%
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dividends
Rhea-AI Summary
NorthEast Community Bancorp reports strong earnings for Q3 2023
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Rhea-AI Sentiment
End-of-Day
6.48%
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FAQ

What is the current stock price of Northeast Community Bancorp (NECB)?

The current stock price of Northeast Community Bancorp (NECB) is $28.79 as of November 6, 2024.

What is the market cap of Northeast Community Bancorp (NECB)?

The market cap of Northeast Community Bancorp (NECB) is approximately 365.6M.

Northeast Community Bancorp, Inc.

Nasdaq:NECB

NECB Rankings

NECB Stock Data

365.63M
14.02M
13.32%
43.03%
1.31%
Banks - Regional
Savings Institutions, Not Federally Chartered
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United States of America
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