Welcome to our dedicated page for Northeast Cmnty Bancorp news (Ticker: NECB), a resource for investors and traders seeking the latest updates and insights on Northeast Cmnty Bancorp stock.
NorthEast Community Bancorp Inc (NECB) delivers community-focused banking services across the Northeastern U.S., combining personalized financial solutions with modern digital platforms. This news hub provides investors and stakeholders with essential updates directly from the institution.
Access timely information on earnings announcements, regulatory filings, and strategic initiatives. Our curated collection includes press releases about loan portfolio developments, leadership changes, and technological advancements in NECB's operations.
Key updates cover quarterly financial results, merger/acquisition activity, and new product launches. Stay informed about the bank's community reinvestment programs and risk management practices through verified corporate communications.
Bookmark this page for streamlined access to NECB's official announcements. Check regularly for critical updates affecting market positioning and community banking trends in the Northeast region.
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.
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.
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.
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