NorthEast Community Bancorp's Q2 net income falls

Northeast Community Bancorp

24/07/2025 16:41

Corrects to clarify EPS in Key Details table

Overview

NorthEast Community Bancorp Q2 net income declines to $11.2 mln from $12.8 mln yr ago

Net interest income and net interest margin decreased compared to Q2 2024

Company's asset quality remains strong with no non-performing loans

Outlook

Company notes increased loan demand with $636 mln in unfunded commitments

NorthEast Community Bancorp focuses on construction lending in high-demand areas

Company highlights cooperative building lending growth in NYC boroughs

Result Drivers

LOAN PORTFOLIO - Strong performance in construction lending and cooperative building loans, per CEO Kenneth A. Martinek

INCREASED LOAN DEMAND - Despite economic uncertainty, loan demand rose with unfunded commitments over $636 mln

ASSET QUALITY - Maintained strong asset quality with no non-performing loans and low non-performing asset ratio

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS (basic)
$0.85
Q2 Net Income
$11.17 mln
Q2 Net Interest Income
$25.07 mln
Q2 Net Interest Margin
5.4%
Q2 Pretax Profit
$15.42 mln


Analyst Coverage

The one available analyst rating on the shares is "hold"

Wall Street's median 12-month price target for Northeast Community Bancorp Inc is $25.00, about 8% above its July 23 closing price of $23.00

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release: ID:nGNX1k257w

 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)