Company: NECB
Filing Date: 2025-03-11
Form Type: 8-K/A
Source: 0001104659-25-022616
Chunk: 1

Company: NorthEast Community Bancorp, Inc./MD/
Filing Date: 2025-03-11
Form: 8-K/A
Chunk 1
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 growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨

<div align='center'>Explanatory Note</div>

On January 29, 2025, NorthEast
Community Bancorp, Inc. (the “Company”) filed a Current Report on Form 8-K furnishing under Items 2.02 and 9.01 the Company’s
press release announcing its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024 (the “Original
Filing”). The full test of the press release was included as Exhibit 99.1 to the Original Filing.

This Amendment (this “Amendment”)
to the Original Filing is being filed to reflect a subsequent event that occurred following the issuance of the Original Filing, more
fully described herein. In accordance with ASC 855, Subsequent Events, the Company has determined that this event provided additional
evidence about conditions that existed as of the date of the Consolidated Statements of Financial Condition. The adjustment was identified
by the Company’s management after the date of the Original Filing and as part of the Company’s customary procedures to finalize
its financial statements for inclusion in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

| Item 2.02 | Results of Operations and 
 Financial Condition.      |

An updated presentation of the Company’s
Consolidated Statements of Financial Condition, Consolidated Statements of Income, Selected Consolidated Financial Data, and Net Interest
Margin Analysis is attached as Exhibit 99.1 to this Amendment and is incorporated herein by reference. The following is a summary of the
adjustment.

During the fourth quarter
of 2024, management discovered one of our commercial and industrial (“C&I”) loan borrowers pleaded guilty to Federal criminal
loan fraud charges and posted bail pending sentencing. Management immediately downgraded the outstanding $1.0 million balance of the C&I
loan to special mention, pending sentencing that was rescheduled numerous times. The loan was performing as of December 31, 2024.

The loan became one month
delinquent as of February 28, 2025. Management discovered on March 3, 2025 that a Federal judge revoked the borrower’s bail because
additional loan fraud charges were brought against