NorthEast Community Bancorp Q1 net income declines

Northeast Community Bancorp

29/04/2026 19:12

Overview

U.S. community bank's Q1 net income and EPS declined slightly from prior year

Net interest income and margin both decreased modestly year-over-year

Company reported no non-performing loans and continued share repurchases in Q1

Outlook

Company says demand for construction loans in key submarkets continues to demonstrate robust growth

Result Drivers

CONSTRUCTION LENDING FOCUS - Co said strong performance was driven by continued focus on construction lending in high demand submarkets in the Bronx, Rockland, Orange, and Sullivan Counties

HIGHER LOAN COMMITMENTS - Construction loan commitments and loans-in-process outstanding rose 37.8% year-over-year, reflecting robust demand in target submarkets

LOWER INTEREST INCOME - Net interest income and margin declined due to a decrease in yield on interest-earning assets that was only partially offset by lower funding costs

Company press release: ID:nGNX2ny7gX

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
$9.95 mln
Q1 Net Interest Income
$24.13 mln
Q1 Net Interest Margin
4.99%
Q1 Pretax Profit
$14.05 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for Northeast Community Bancorp Inc is $28.25, about 13.2% above its April 28 closing price of $24.96

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)