Northeast Community Bancorp Inc
necommunitybank.comWhat Do They Do?
Makes construction and real estate loans and offers deposit accounts to individuals and businesses in New York and Massachusetts.
10-K for FY2025, filed Mar 13, 2026The Bank is headquartered in White Plains, New York. The Bank was founded in 1934 and is a community oriented financial institution…View ↗
The Bank’s principal business consists of originating primarily construction loans and, to a lesser extent, commercial and industrial…View ↗
County, New York, one full-service branch office in Sullivan County, New York, and three full-service branches in Danvers (Essex County)…View ↗
How Do They Make Money?
Earns most of its revenue as interest on loans, with additional interest from investment securities and mortgage-backed securities, plus deposit fees and service charges. Deposit customers pay transaction fees when a transaction occurs and monthly account fees over the month.
10-K for FY2025, filed Mar 13, 2026The Bank’s principal business consists of originating primarily construction loans and, to a lesser extent, commercial and industrial…View ↗
The majority of the Company’s revenues come from interest income and other sources, including loans and securities that are outside the…View ↗
The Company earns fees from deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees…View ↗
$154.1M
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10-K for FY2025, filed Mar 13, 2026
$154.1M ↗
Who Are Their Customers?
Apartment-building and non-residential property owners, real estate developers, and other local businesses borrow from the Bank, through direct relationships and referrals from existing customers or mortgage brokers. Individuals and businesses also place deposits through its branches.
10-K for FY2025, filed Mar 13, 2026While our New York and Massachusetts markets have different economic characteristics, our customer base in these states tends to be similar…View ↗
Since the latter part of 2013, we have primarily made construction loans to borrowers and developers who we know or who are referred to us…View ↗
Commercial and Industrial Loans. We provide credit to commercial and industrial businesses that are located within our market area. We also…View ↗
We have been originating multifamily and mixed-use real estate loans in the New York State/New York Metropolitan Area for 92 years. In the…View ↗
County, New York, one full-service branch office in Sullivan County, New York, and three full-service branches in Danvers (Essex County)…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 29 cents of every revenue dollar as net income in FY2025 and turned 33 cents into free cash flow.
How Are They Changing?
Growing. Revenue grew 3.2x in 4 years, from $48.4M in FY2021 to $154.1M in FY2025, about 34% a year.
Investment advisory services
The earlier report describes investment advisory and financial planning services offered through Harbor West; the latest says the Bank sold those assets and no longer earns advisory fees.
10-K for FY2022, filed Mar 30, 2023 10-K for FY2025, filed Mar 13, 2026The Bank also offers investment advisory and financial planning services under the name Harbor West Wealth Management Group, a division of…View ↗
The Bank previously offered investment advisory and financial planning services under the name of Harbor West Wealth Management Group, a…View ↗
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