Filing Analysis
NorthEast Community Bancorp, Inc. filed an 8-K to announce its financial results for the three and six months ended June 30, 2026. The filing serves as a formal announcement of quarterly earnings via press release.
📋 Key Facts
- Report date: July 24, 2026
- Reporting period: Three and six months ended June 30, 2026
- The company is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.
- Financial results were released via press release (Exhibit 99.1).
NorthEast Community Bancorp, Inc. has authorized its third stock repurchase program, allowing for the acquisition of up to 1,400,435 shares (approximately 10% of outstanding common stock). This follows a previous program that successfully repurchased over 1 million shares.
📋 Key Facts
- Board of Directors authorized a third stock repurchase program on December 8, 2025.
- The program allows for the purchase of up to 1,400,435 shares, representing 10% of currently issued and outstanding common stock.
- Repurchases will occur via open market or privately negotiated transactions under a Rule 10b5-1 trading plan.
- The previous second repurchase program (announced May 30, 2023) was completed, having repurchased 1,091,174 shares at an average cost of $15.78 per share.
NorthEast Community Bancorp, Inc. filed an 8-K to announce its financial results for the three and nine months ended September 30, 2025.
📋 Key Facts
- The company issued a press release on October 23, 2025, regarding financial results.
- Reporting period covers the three and nine months ended September 30, 2025.
- The filing is pursuant to Item 2.02 (Results of Operations and Financial Condition).
NorthEast Community Bancorp, Inc. announced a special cash dividend of $0.20 per share. The dividend is scheduled to be paid on October 6, 2025, to shareholders of record as of September 8, 2025.
📋 Key Facts
- Special cash dividend declared: $0.20 per share.
- Record date: September 8, 2025.
- Payment date: On or about October 6, 2025.
- Dividend applies to outstanding common stock.
NorthEast Community Bancorp, Inc. filed an 8-K to announce its financial results for the three and six months ended June 30, 2025. The filing serves as a formal announcement of quarterly earnings via a press release.
📋 Key Facts
- Reporting period: Three and six months ended June 30, 2025.
- Announcement date: July 24, 2025.
- Filing type: Item 2.02 (Results of Operations and Financial Condition).
- The company is an emerging growth company.
The Company held its annual meeting of stockholders on May 22, 2025. The filing reports the election of three directors and the ratification of the independent auditor for the upcoming fiscal year.
📋 Key Facts
- Annual meeting of stockholders held on May 22, 2025.
- Charles M. Cirillo elected to the Board of Directors (6,550,609 votes FOR).
- Eugene M. Magier elected to the Board of Directors (5,732,855 votes FOR).
- Kenneth A. Martinek elected to the Board of Directors (7,009,242 votes FOR).
- S.R. Snodgrass, P.C. ratified as independent registered public accounting firm for fiscal year ending Dec 31, 2025.
- Ratification of auditor received 9,441,616 votes FOR.
NorthEast Community Bancorp, Inc. issued an 8-K to announce its financial results for the first quarter ended March 31, 2025.
📋 Key Facts
- The company released financial results for the three months ended March 31, 2025 on April 21, 2025.
- The filing is a standard earnings announcement under Item 2.02.
- The report was signed by Kenneth A. Martinek, Chairman and CEO.
NorthEast Community Bancorp, Inc. filed an 8-K/A to amend its previous Q4 2024 earnings release due to a subsequent event involving loan fraud. The company is retroactively charging off a $1.0 million C&I loan that was previously considered performing.
🚩 Red Flags
- Retroactive adjustment to previously reported financial results (restatement of earnings).
- Credit quality issue: direct loan fraud by a borrower.
- Management had previously classified the loan as 'special mention' but now deems it uncollectible.
📋 Key Facts
- The amendment relates to the fourth quarter and fiscal year ended December 31, 2024.
- A $1.0 million commercial and industrial (C&I) loan was identified as uncollectible due to a borrower pleading guilty to federal criminal loan fraud.
- The charge-off results in a $717,000 decrease (net of taxes) to 2024 annual net income.
- The adjustment includes a $1.0 million increase in the provision for credit loss and a $283,000 decrease in income tax provision.
- Total loans and total stockholders' equity were both reduced by $1.0 million and $717,000 respectively (partially offset by other assets).
NorthEast Community Bancorp, Inc. filed an 8-K to announce its financial results for the three months and full year ended December 31, 2024.
📋 Key Facts
- Report date: January 29, 2025
- Reporting period covered: Three months and fiscal year ended December 31, 2024
- The filing includes a press release (Exhibit 99.1) detailing financial performance
- Company is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
NorthEast Community Bancorp, Inc. announced the appointment of Joel L. Morgenthau to its Board of Directors following the death of Kevin P. O’Malley. The filing discloses significant legal fees paid by the Bank and its borrowers to Mr. Morgenthau's law firm.
🚩 Red Flags
- Related-party transaction: The new director's law firm receives substantial payments from both the Bank and its customers (borrowers).
📋 Key Facts
- Joel L. Morgenthau appointed as director on October 24, 2024.
- Appointment fills vacancy caused by the death of Kevin P. O’Malley (director since 2016).
- Mr. Morgenthau is a Partner at Moritt Hock & Hamroff LLP.
- The Bank paid ~$58,000 in legal fees to Mr. Morgenthau's firm YTD 2024 and $230,000 in 2023.
- Construction loan borrowers paid ~$344,000 in legal fees to the firm YTD 2024 and $582,000 in 2023.
NorthEast Community Bancorp, Inc. issued an 8-K to announce its financial results for the three and nine months ended September 30, 2024.
📋 Key Facts
- Report date: October 28, 2024
- Filing covers financial results for the three and nine months ended September 30, 2024
- The company is an emerging growth company
- Information provided under Item 2.02 is furnished, not filed, per SEC regulations
NorthEast Community Bancorp, Inc. announced a special cash dividend of $0.15 per share and an increase in its regular quarterly cash dividend from $0.10 to $0.15 per share.
📋 Key Facts
- Special cash dividend declared: $0.15 per share on outstanding common stock.
- Quarterly cash dividend increased from $0.10 per share to $0.15 per share.
- Record date for dividends: October 4, 2024.
- Payment date: On or about November 6, 2024.
NorthEast Community Bancorp, Inc. issued an 8-K to announce its financial results for the three and six months ended June 30, 2024.
📋 Key Facts
- The company released earnings results on July 22, 2024.
- Reporting period covers the three and six months ended June 30, 2024.
- The filing is pursuant to Item 2.02 (Results of Operations and Financial Condition).
NorthEast Community Bancorp, Inc. reported the results of its annual meeting of stockholders held on May 23, 2024. The filing details the election of three directors and the ratification of the company's independent auditor.
📋 Key Facts
- Annual meeting held on May 23, 2024.
- Diane B. Cavanaugh elected to the Board of Directors for a three-year term (7,179,655 votes FOR).
- Charles A. Martinek elected to the Board of Directors for a three-year term (8,453,766 votes FOR).
- Kenneth H. Thomas elected to the Board of Directors for a three-year term (7,683,062 votes FOR).
- S.R. Snodgrass, P.C. was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
- Ratification of auditor received 11,230,803 votes FOR.
NorthEast Community Bancorp, Inc. filed an 8-K to furnish presentation materials used during its 2024 annual meeting of stockholders. The filing is a routine disclosure under Regulation FD.
📋 Key Facts
- The company delivered a slide presentation at the 2024 annual meeting of stockholders on May 23, 2024.
- Presentation materials were authored by Kenneth A. Martinek, Chairman and CEO.
- Materials are being furnished to satisfy Regulation FD requirements and will be posted to the company website.
NorthEast Community Bancorp, Inc. filed an 8-K to announce its quarterly financial results for the three months ended March 31, 2024.
📋 Key Facts
- The filing reports on the company's financial condition and results of operations for the period ending March 31, 2024.
- The announcement was made via a press release dated April 25, 2024.
- The report is filed under Item 2.02 (Results of Operations and Financial Condition).
NorthEast Community Bancorp, Inc. filed an 8-K to announce its financial results for the three months and full year ended December 31, 2023.
📋 Key Facts
- Report date: February 1, 2024
- Filing date: February 5, 2024
- Reporting period: Three months and fiscal year ended December 31, 2023
- The filing includes a press release (Exhibit 99.1) detailing financial results.