Overview

* NorthEast Community Bancorp ( NECB ) Q3 net income declines to $11.9 mln from $12.7 mln last year

* Net interest income for Q3 falls to $25.9 mln from $26.3 mln last year

* Company maintains strong asset quality with no non-performing loans

Outlook

* Company did not provide specific financial guidance for future periods

Result Drivers

* STRONG LOAN DEMAND - Co reports robust loan demand, particularly in construction and multi-family lending

* INTEREST MARGIN PRESSURE - Decrease in yield on interest-earning assets led to lower net interest income

* COST MANAGEMENT - Strategy to reduce brokered deposits to lower cost of funds

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $11.86

Income mln

Q3 Net $25.93

Interest mln

Income

Q3 Net 5.38%

Interest

Margin

Q3 $16.60

Pretax mln

Profit

Analyst Coverage

* The one available analyst rating on the shares is "hold"

* Wall Street's median 12-month price target for Northeast Community Bancorp Inc ( NECB ) is $24.00, about 15.7% above its October 21 closing price of $20.24

* The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)