NorthEast Community Bancorp, Inc./MD/ NECB
Northeast Community Bancorp, Inc. (the "Company") is a Maryland corporation that was incorporated in May 2021 to be the successor to NorthEast Community Bancorp, Inc., a federally chartered corporation (the "Mid-Tier Holding Company"), upon completion of the second-step conversion of NorthEast Community Bank (the "Bank") from the two-tier mutual holding company structure to the stock holding company structure. NorthEast Community Bancorp, MHC was the former mutual holding company for the Mid-Tier Holding Company prior to the completion of the second-step conversion. In conjunction with the second-step conversion, each of NorthEast Community Bancorp, MHC and the Mid-Tier Holding Company merged out of existence and now cease to exist. The second-step conversion was completed on July 12, 2021, at which time the Company sold, for gross proceeds of $97.8 million, a total of 9,784,077 shares of common stock at $10.00 per share. As part of the second-step conversion, each of the existing outstanding shares of Mid-Tier Holding Company common stock owned by persons other than NorthEast Community Bancorp, MHC was converted into 1.3400 shares of Company common stock. As a result of the second-step conversion, all share information has been subsequently revised to reflect the 1.3400 exchange ratio, unless otherwise noted.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $154.1M | $160.0M | $132.5M | $72.0M | $48.4M | $49.0M | — |
| Interest expense | $100.7M | $102.8M | $97.2M | $8.1M | $5.1M | $10.0M | — |
| Pre-tax income | $62.3M | $65.8M | $64.7M | $34.4M | $15.6M | $15.6M | — |
| Income tax | $17.8M | $18.7M | $18.5M | $9.6M | $3.7M | $3.3M | — |
| Net income | $44.4M | $47.1M | $46.3M | $24.8M | $11.9M | $12.3M | — |
| EPS, basic | 3.35 | 3.58 | 3.32 | 1.61 | 0.75 | 0.76 | — |
| EPS, diluted | 3.25 | 3.52 | 3.32 | 1.58 | 0.75 | 0.76 | — |
| Shares, diluted (wtd. avg.) | 13.7M | 13.4M | 13.9M | 15.7M | 15.9M | 16.1M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $81.2M | $78.3M | $68.7M | $95.3M | $152.3M | $69.2M | $127.7M |
| Property, plant and equipment | $25.4M | $24.8M | $25.5M | $26.1M | $23.9M | $18.7M | — |
| Goodwill | — | — | $0 | $200.0K | $651.0K | $651.0K | — |
| Total assets | $2.06B | $2.01B | $1.76B | $1.42B | $1.23B | $968.2M | — |
| Long-term debt | $70.0M | — | $64.0M | $21.0M | — | — | — |
| Total liabilities | $1.71B | $1.69B | $1.48B | $1.16B | $973.7M | $814.4M | — |
| Retained earnings | $245.0M | $214.0M | $175.5M | $132.7M | $114.3M | $105.3M | — |
| Total equity | $351.7M | $318.3M | $279.3M | $262.0M | $251.4M | $153.8M | $142.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $52.6M | $48.7M | $42.8M | $27.5M | $21.6M | $15.7M | — |
| Depreciation and amortisation | $1.2M | $1.2M | $1.2M | $1.2M | $1.1M | $1.1M | — |
| Capital expenditure | $1.7M | $517.0K | $626.0K | $3.3M | $6.5M | $1.3M | — |
| Investing cash flow | -$52.0M | -$234.0M | -$357.8M | -$256.6M | -$178.9M | -$72.1M | — |
| Financing cash flow | $2.4M | $194.9M | $288.4M | $172.1M | $240.4M | -$2.0M | — |
| Dividends paid | $13.3M | $7.9M | $3.7M | $6.9M | $2.3M | $1.0M | — |
| Buybacks | $1.6M | $3.2M | $28.7M | $9.3M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-027566.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $49.0M | $48.4M | $72.0M | $132.5M | $160.0M | $154.1M |
| Gross profit | — | — | — | — | — | — | — |
| Net income | — | $12.3M | $11.9M | $24.8M | $46.3M | $47.1M | $44.4M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Officer or director change Item 5.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Other event Item 8.01
- Results announced Item 2.02
- Shareholder vote Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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