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Stock impact report

NorthEast Community Bancorp, Inc. Reports Results for the Quarter Ended June 30, 2019

NorthEast Community Bancorp, Inc. (NECB) 
Company Research Source: Business Wire
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--NorthEast Community Bancorp, Inc. (OTC: NECB) (the “Company”), a majority owned subsidiary of NorthEast Community Bancorp, MHC, and the parent holding company of NorthEast Community Bank (the “Bank”), reported net income of $3.42 million for the quarter ended June 30, 2019 compared to net income of $3.38 million for the quarter ended June 30, 2018, an increase of 1.36%.Financial Condition and Operating Results for June 30, 2019 compared to June 30, 2018:Net interest income for the three months ended June 30, 2019 increased by $892,000, or 9.52%, to $10.26 million from $9.37 million for the three months ended June 30, 2018.Net income before taxes for the three months ended June 30, 2019 was $4.51 million compared to $4.41 million for the three months ended June 30, 2018, an increase of 2.34%. The increase in net income before taxes was the result of our continuing focus on construction lending.Total consolidated assets increased by $87.13 millio Show less Read more
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