NorthEast Community Bancorp, Inc./MD/ (NASDAQ: NECB)

Northeast Community Bancorp, Inc. is a Maryland corporation that serves as the savings and loan holding company for Northeast Community Bank, a New York State chartered savings bank headquartered in White Plains, New York. The bank operates as a community oriented financial institution, maintaining eleven full service branch offices in the Bronx, Westchester, Rockland, Orange, and Sullivan Counties in New York, as well as in Essex, Middlesex, and Norfolk Counties in Massachusetts, and three loan production offices in White Plains, New York, New City, New York, and Danvers, Massachusetts. Its principal business consists of originating construction loans, complemented by commercial and industrial loans, multifamily and mixed use real estate loans, and non residential real estate loans. The bank also offers a full suite of retail deposit products including checking, savings, money market accounts, and certificates of deposit, and supplements its funding with wholesale deposits and borrowings.

The bank’s revenue is principally derived from interest income on its loan portfolio, which is heavily weighted toward construction loans, followed by commercial and industrial loans, multifamily and mixed use real estate loans, and non residential real estate loans. Additional interest is generated from investment securities and mortgage backed securities held for liquidity and income. Non interest income consists of deposit related fees such as account maintenance charges, ATM fees, and service charges on various products. Prior to January 2024, the bank also earned investment advisory fees through its Harbor West Wealth Management Group, but that business was sold to a third party and no longer contributes to earnings. Overall, the bank’s earnings reflect the spread between the yields earned on its interest earning assets and the cost of its deposits and borrowed funds.

Northeast Community Bancorp competes with a broad array of financial institutions including national banks, regional community banks, credit unions, and non depository lenders such as fintech firms and specialty finance companies that have entered the construction and commercial real estate lending space. The bank’s competitive advantages stem from a long standing presence in the New York and Massachusetts markets, its focus on high absorption construction lending where demand exceeds supply, and its reputation for personal service and relationship based banking. As of December 31, 2025, the Bank was classified as well capitalized under FDIC regulations, underscoring its financial strength. Its deep knowledge of local real estate markets and its ability to tailor loan structures to specific developer needs further differentiate it from larger, less specialized competitors.

The bank serves a diverse customer base that includes individual consumers, small and medium sized businesses, and real estate developers primarily located in the Bronx, Westchester, Rockland, Orange, and Sullivan Counties of New York, as well as Essex, Middlesex, and Norfolk Counties in Massachusetts, with a smaller lending presence in New Jersey. Its loan customers comprise owners of low to moderate income apartment buildings, developers of multifamily and condominium projects, and owners of commercial properties such as office buildings, retail centers, and medical facilities. Deposit customers are largely residents and workers in the communities surrounding its branch offices, as well as businesses that maintain operating accounts with the bank. The bank also receives deposits from its loan customers, which provide a stable source of funding.