Company: NECB
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001558370-25-002975
Chunk: 20

Company: NorthEast Community Bancorp, Inc./MD/
Filing Date: 2025-03-14
Form: 10-K
Item: Item 2
Chunk 20
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ITEM 2.PROPERTIES

At December 31, 2024, we conducted business through our administrative headquarters located in White Plains, New York and through our eleven branch offices located in Bronx, New York, Rockland, Orange, and Sullivan Counties in New York and Essex, Middlesex, and Norfolk Counties in Massachusetts and three loan production offices located in White Plains and New City, New York and Danvers, Massachusetts.  We previously operated a leased wealth management office in Westport, Connecticut.  However, we no longer maintain this office following the sale of all of the Bank’s assets relating to Harbor West Wealth Management Group to a third party in January 2024, which the third party is currently leasing the office from us.  At December 31, 2024, we leased five of our offices, and the total net book value of our land, buildings, furniture, fixtures and equipment was $24.8 million.

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ITEM 3.LEGAL PROCEEDINGS

From time to time, the Company and the Bank are involved in routine legal proceedings in the ordinary course of business.  At December 31, 2024, such routine legal proceedings, in the aggregate, are believed by management to be immaterial to our financial condition, results of operations and cash flows.

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ITEM 4.MINE SAFETY DISCLOSURES

None.

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