NorthEast Community Bancorp, Inc./MD/NECB
What NorthEast Community Bancorp, Inc./MD/ does.
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.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $41.5M | $45.7M | $65.6M | $100.9M | $105.6M | $104.8M |
| Net income | $12.3M | $11.9M | $24.8M | $46.3M | $47.1M | $44.4M |
| Free cash flow | $14.4M | $15.1M | $24.2M | $42.2M | $48.2M | $50.8M |
More on NECB.
- NorthEast Community Bancorp, Inc./MD/ summary
- NorthEast Community Bancorp, Inc./MD/ financial statements
- NorthEast Community Bancorp, Inc./MD/ key metrics
- NorthEast Community Bancorp, Inc./MD/ health scores and style box
- NorthEast Community Bancorp, Inc./MD/ earnings
- NorthEast Community Bancorp, Inc./MD/ dividends
- NorthEast Community Bancorp, Inc./MD/ valuation
- NorthEast Community Bancorp, Inc./MD/ ownership and insiders
- NorthEast Community Bancorp, Inc./MD/ peers
Figures from NorthEast Community Bancorp, Inc./MD/'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.