Company: NECB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001558370-25-007099
Chunk: 3

Company: NorthEast Community Bancorp, Inc./MD/
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1F
Chunk 3
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Item 1. Financial Statements

NORTHEAST COMMUNITY BANCORP, INC.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)

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​​​​​​​​​March 31, ​December 31, ​    2025    2024​​(In thousands, except share​​and per share amounts)ASSETS​​​​​​Cash and amounts due from depository institutions​$ 11,524​$ 13,700Interest-bearing deposits​  77,934​  64,559      Total cash and cash equivalents​  89,458​  78,259Certificates of deposit​  100​  100Equity securities​  23,294​  21,994Securities held-to-maturity ( net of allowance for credit losses of $126 and $126, respectively )​  14,487​  14,616Loans receivable​  1,725,664​  1,812,647     Deferred loan fees, net​​ (63)​​ (49)     Allowance for credit losses​​ (5,127)​​ (4,830)              Net loans​​ 1,720,474​  1,807,768Premises and equipment, net​  24,889​  24,805Investments in restricted stock, at cost​  397​  397Bank owned life insurance​  25,905​  25,738Accrued interest receivable​  12,432​  13,481Real estate owned​  5,120​  5,120Property held for investment​  1,361​  1,370Right of Use Assets – Operating​  3,856​  4,001Right of Use Assets – Financing​  346​  347Other assets​  11,257​  11,585Total assets​$ 1,933,376​$ 2,009,581LIABILITIES AND STOCKHOLDERS’ EQUITY​   ​   Liabilities:​   ​   Deposits:​   ​   Non-interest bearing​$ 278,694​$ 287,135Interest bearing​  1,307,321​  1,383,