NorthEast Community Bancorp, Inc. Reports Results for the Three and Six Months Ended June 30, 2026

NorthEast Community Bancorp, Inc. (Nasdaq: NECB) reported net income of $9.8 million, or $0.75 per basic share and $0.72 per diluted share, for the three months ended June 30, 2026 compared to net income of $11.2 million, or $0.85 per basic share and $0.82 per diluted share, for the three months ended June 30, 2025. In addition, the Company reported net income of $19.7 million, or $1.50 per basic share and $1.46 per diluted share, for the six months ended June 30, 2026 compared to net income of $21.7 million, or $1.65 per basic share and $1.60 per diluted share, for the six months ended June 30, 2025.

Kenneth A. Martinek, Chairman of the Board and Chief Executive Officer, stated “We are again pleased to report continued strong performance throughout our entire loan portfolio. We continue our laser focus on construction lending in high demand, high absorption submarkets in the Bronx, Rockland, Orange, and Sullivan Counties.” “Demand for construction loans throughout these submarkets continues to demonstrate robust growth and we look forward to continuing to meet this growing demand going forward. At June 30, 2026, construction loan commitments and loans-in-process outstanding increased by approximately 38.9% as compared to the second quarter of 2025, with over $883 million in total unfunded loan commitments outstanding, and representing a 30.0% increase over the amount of such total commitments outstanding at December 31, 2025.”

Highlights for the three months and six months ended June 30, 2026 are as follows: Performance metrics continue to be strong with a return on average total assets ratio of 1.95%, a return on average shareholders’ equity ratio of 10.81%, and an efficiency ratio of 41.99% for the three months ended June 30, 2026. For the six months ended June 30, 2026, the Company reported a return on average total assets ratio of 1.96%, a return on average shareholders’ equity ratio of 10.97%, and an efficiency ratio of 42.81%.

Asset quality metrics continue to remain strong with no non-performing loans at either June 30, 2026 or December 31, 2025, and a non-performing assets to total assets ratio of 0.00% at both June 30, 2026 and at December 31, 2025. Our allowance for credit losses related to loans totaled $4.8 million, or 0.25% of total loans at June 30, 2026 compared to $4.7 million, or 0.25% of total loans at December 31, 2025.

Total stockholders’ equity increased by $10.9 million, or 3.1%, to $362.6 million, or 17.14% of total assets as of June 30, 2026 from $351.7 million, or 17.04% of total assets as of December 31, 2025.

Total assets increased $51.7 million, or 2.5%, to $2.1 billion at June 30, 2026, from $2.1 billion at December 31, 2025. The increase in assets was primarily due to an increase in net loans of $59.4 million, partially offset by a decrease in cash and cash equivalents of $7.8 million. Cash and cash equivalents decreased $7.8 million, or 9.6%, to $73.4 million at June 30, 2026 from $81.2 million at December 31, 2025. The decrease in cash and cash equivalents partially funded the increase of $59.4 million in net loans. Equity securities increased $757,000, or 2.8%, to $27.3 million at June 30, 2026 from $26.6 million at December 31, 2025. The increase in equity securities was attributable to the purchase of $1.0 million in equity securities during the six months ended June 30, 2026, partially offset by market depreciation of $243,000 due to market interest rate volatility during the six months ended June 30, 2026. Securities held-to-maturity decreased $56...