NorthEast Community Bancorp, Inc. (Nasdaq: NECB) reported financial results for the three and nine months ended September 30, 2026. For the third quarter of 2026, the company recorded net income of $10.7 million, or $0.81 per basic share and $0.79 per diluted share. This represents a decrease from the $11.9 million, or $0.90 per basic share and $0.87 per diluted share, reported for the same period in 2025.
For the nine months ended September 30, 2026, the company reported net income of $30.4 million, or $2.31 per basic share and $2.25 per diluted share. This is down from $33.6 million, or $2.54 per basic share and $2.47 per diluted share, for the prior year period.
The company highlighted growth in its loan portfolio, particularly in construction loans. At September 30, 2026, construction loan commitments and loans-in-process outstanding increased by approximately 18.2% compared to the third quarter of 2025, with over $763 million in total unfunded loan commitments outstanding. This represents a 12.2% increase over the amount of such total commitments outstanding at December 31, 2025.
Key performance metrics for the three months ended September 30, 2026, included a return on average total assets ratio of 2.00% and a return on average shareholders' equity ratio of 11.54%. The efficiency ratio was 41.50%.
On the balance sheet, total assets increased by $152.5 million, or 7.4%, to $2.2 billion at September 30, 2026, driven by a loan portfolio growth of $160.0 million, or 8.6%, to $2.0 billion. Total stockholders' equity increased by $19.0 million, or 5.4%, to $370.7 million.
Total deposits increased by $202.7 million, or 12.5%, to $1.8 billion at September 30, 2026, primarily due to increases in certificates of deposit and NOW/money market accounts. The company also reduced its borrowings to zero at September 30, 2026, down from $70.0 million at December 31, 2025.
