Operational cash generation remains stable, evidenced by an OCF/NI ratio that peaked at 1.40 in 2025Q2, supporting a flexible capital return strategy that included a $5.3 million share buyback in 2023Q4.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Cash from Operations | 52.08M | 52.59M | 48.69M | 42.84M | 27.54M | 21.56M | 15.66M | 13.48M | 12.63M | 8.75M | 5.43M | 2.79M | 4.45M | 1.73M | 640K | 5.65M | 6.6M | -2.94M | 3.23M | -2.54M | 1.81M | 2.39M | 1.71M |
| Operating CF Growth % | 50.25% | 8.01% | 13.66% | 55.54% | 27.76% | 37.62% | 16.2% | 6.76% | 44.29% | 61.08% | 94.63% | -37.27% | 156.57% | 170.94% | -88.67% | -14.36% | 324.51% | -191.1% | 226.82% | -240.73% | -24.42% | 39.58% | - |
| Net Income | 43.8M | 44.41M | 47.07M | 46.28M | 24.84M | 11.9M | 12.33M | 12.95M | 13.03M | 8.05M | 5.03M | 2.34M | 1.7M | 1.14M | -2.51M | 2.35M | 1.87M | -2.62M | 2.1M | 12.14M | 1.56M | 1.99M | 1.56M |
| Depreciation & Amortization | 1.16M | 1.17M | 1.19M | 1.22M | 1.25M | 1.12M | 1.07M | 916K | 818K | 813K | 759K | 721K | 755K | 817K | 741K | 712K | 833K | 762K | 650K | 589K | 112K | 664K | 658K |
| Deferred Taxes | 348K | 326K | -467K | -367K | -1.31M | 118K | -33K | -256K | 418K | 1.33M | -156K | 120K | 73K | 211K | -161K | -2.95M | 189K | -2.48M | -2.68M | 5.05M | -214K | -37K | -264K |
| Other Non-Cash Items | 877K | 745K | 711K | 56K | 2.84M | 3.47M | 76K | -1.42M | -787K | -1.97M | -329K | 218K | -722K | -598K | 5.5M | 1.54M | 1.87M | 7.66M | 550K | -19.2M | 127K | 19K | 136K |
| Working Capital Changes | 4.03M | 4M | -3.65M | -7.4M | -1.36M | 4.01M | 1.97M | 983K | -1.14M | 297K | -46K | -801K | 2.46M | 3K | -3.08M | 3.83M | 1.68M | -6.45M | 2.6M | -1.13M | 224K | -245K | -380K |
| Cash from Investing | -107.05M | -52.03M | -233.99M | -357.84M | -256.59M | -178.86M | -72.12M | -6.58M | -45.77M | -79.19M | -125.23M | -84.17M | -56.87M | -31.97M | 7.04M | 14.37M | 13.09M | -53.66M | -84.19M | -33.24M | -39.89M | -23.16M | -15.08M |
| Purchase of Investments | -7.8M | -9.49M | -4.1M | -812K | -10.04M | -25.3M | -189K | -5.19M | -2M | -6.9M | -4M | 0 | 0 | -164K | 0 | -984K | -27.57M | -29.53M | -1.94M | -5.01M | -50.38M | -3.87M | -4.81M |
| Sale/Maturity of Investments | 1.4M | 1.1M | 1.25M | 11.18M | 1.5M | 4.81M | 1.96M | 1.09M | 1.39M | 910K | 1.05M | 1.46M | 1.96M | 3.49M | 4.05M | 4.69M | 14.92M | 465K | 882K | 29.68M | 35.68M | 4.11M | 3.21M |
| Net Investment Activity | -6.4M | -8.39M | -2.85M | 10.37M | -8.54M | -20.5M | 1.77M | -4.1M | -612K | -5.99M | -2.95M | 1.46M | 1.96M | 3.33M | 4.05M | 3.71M | -12.65M | -29.06M | -1.05M | 24.66M | -14.7M | 232K | -1.6M |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.38M | 0 | 0 | 0 |
| Other Investing | -99.19M | -41.89M | -230.62M | -367.59M | -244.74M | -151.92M | -72.63M | 1.56M | -42.01M | -71.86M | -119.08M | -84.53M | -58.65M | -35.16M | 7.09M | 13.49M | 25.95M | -20.04M | -82.74M | -65.4M | -18.49M | -23.28M | -13.17M |
| Cash from Financing | 41.72M | 2.36M | 194.89M | 288.37M | 172.09M | 240.38M | -2.03M | 69.43M | 40.89M | 70.87M | 135.15M | 75.19M | 54.9M | 12.53M | -41.02M | 18.11M | -63.95M | 108.78M | 78.36M | 38.18M | 47.44M | -399K | 4.1M |
| Dividends Paid | -14.01M | -13.32M | -7.86M | -3.65M | -6.87M | -2.26M | -1.01M | -788K | -566K | -563K | -562K | -561K | -582K | -453K | -669K | -614K | -654K | -662K | -659K | 0 | 0 | 0 | 0 |
| Share Repurchases | -5.19M | -1.58M | -3.2M | -28.71M | -9.32M | 0 | 0 | 0 | 0 | -217K | -58K | -758K | -1.71M | -579K | 0 | -3.05M | -664K | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 20K | 0 | 0 | 0 | 0 | 95.39M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 57.63M | 0 | 0 |
| Net Stock Activity | -5.17M | -1.58M | -3.2M | -28.71M | -9.32M | 95.39M | 0 | 0 | 0 | -217K | -58K | -758K | -1.71M | -579K | 0 | -3.05M | -664K | 0 | 0 | 0 | 57.63M | 0 | 0 |
| Debt Issuance (Net) | 0 | 1000K | -1000K | 1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K | -1000K | -1000K | 1000K | 0 | 0 | 0 | 0 |
| Other Financing | 40.91M | -52.74M | 269.95M | 277.73M | 195.28M | 155.08M | -8.02M | 91.68M | 61.87M | 79.03M | 121.69M | 50.34M | 48.19M | 7.56M | -35.35M | 26.77M | -52.46M | 114.62M | 35.45M | 38.18M | -5M | -399K | 4.1M |
| Net Change in Cash | -13.25M | 2.92M | 9.59M | -26.64M | -56.96M | 83.08M | -58.48M | 76.32M | 7.75M | 428K | 15.36M | -6.19M | 2.48M | -17.71M | -33.34M | 38.13M | -44.27M | 52.18M | -2.61M | 2.4M | 9.36M | -21.17M | -9.27M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 81.17M | 78.26M | 68.67M | 95.31M | 152.27M | 69.19M | 127.67M | 51.35M | 43.6M | 43.17M | 27.82M | 34.01M | 31.53M | 49.24M | 82.58M | 44.45M | 88.72M | 36.53M | 39.15M | 36.75M | 27.39M | 48.55M | 57.82M |
| Cash at End | 76.21M | 81.17M | 78.26M | 68.67M | 95.31M | 152.27M | 69.19M | 127.67M | 51.35M | 43.6M | 43.17M | 27.82M | 34.01M | 31.53M | 49.24M | 82.58M | 44.45M | 88.72M | 36.53M | 39.15M | 36.75M | 27.39M | 48.55M |
| Interest Paid | 50.65M | 52.32M | 56.58M | 34.85M | 8.01M | 4.98M | 9.98M | 15.16M | 9.36M | 6.52M | 5.38M | 4.06M | 0 | 3.19M | 3.76M | 5.18M | 0 | 10.1M | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 13.01M | 15.44M | 22.11M | 20.72M | 9.2M | 3.57M | 3.42M | 4.76M | 4.29M | 5.34M | 2.61M | 950K | 0 | 200K | 2.4M | 1.14M | 0 | 3.86M | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 50.62M | 50.84M | 48.17M | 42.21M | 24.23M | 15.11M | 14.4M | 9.44M | 9.48M | 7.41M | 2.24M | 1.69M | 4.27M | 1.6M | -3.46M | 2.82M | 6.39M | -7.49M | 2.83M | 6.34M | -4.9M | 2.28M | 1.41M |
| FCF Growth % | 10.31% | 5.55% | 14.12% | 74.17% | 60.44% | 4.89% | 52.63% | -0.46% | 27.87% | 230.94% | 32.23% | -60.34% | 167.61% | 146.09% | -222.76% | -55.83% | 185.27% | -364.76% | -55.39% | 229.36% | -314.62% | 62.45% | - |
Regional real estate concentration
According to the provided quarterly cash flow data, NECB consistently maintains an OCF/NI ratio above 1.0, with a peak of 1.40 in 2025Q2, suggesting that the bank's reported earnings are effectively supported by cash-generative operations despite the broader revenue contraction observed in recent periods.
The bank's ability to consistently convert net income into operating cash flow indicates that earnings are not overly reliant on non-cash accruals. This internal capital generation capacity appears to provide a necessary buffer for the bank's specialized construction lending activities.
As reported in financial statements, NECB's investment activity remains limited, with quarterly purchase volumes rarely exceeding $3.3 million and sales consistently below $600,000, indicating that the bank is not utilizing its securities portfolio as a primary tool for liquidity management or yield enhancement.
The low volume of investment activity suggests that management prefers to deploy capital directly into the loan book rather than maintaining a large, liquid securities portfolio. Investors should monitor whether this lack of portfolio diversification leaves the bank overly exposed to regional credit cycles.
Based on the reported figures, NECB's capital return profile is characterized by significant quarterly volatility, with dividend payments ranging from $0.8 million to $5.6 million and sporadic share buybacks, such as the $5.3 million repurchase in 2023Q4, reflecting a flexible approach to shareholder distributions.
The lack of a rigid dividend or buyback policy suggests that management prioritizes capital retention to support loan growth or absorb potential credit losses. This opportunistic approach to capital return may indicate that management is sensitive to the cyclical nature of the Northeast real estate market.
While the cash flow statement shows stable operating results, it obscures the underlying credit risk inherent in the bank's construction loan pipeline, as evidenced by the $1.0 million provision for loan losses in 2024Q4 which does not appear as a cash outflow in the operating section.
The cash flow statement fails to capture the potential for future impairment in the multifamily and construction loan portfolios, which are highly sensitive to regional economic shifts. Analysts should look beyond the cash flow statement to the balance sheet's allowance for credit losses to assess true risk exposure.
Quick answers to the most common questions about buying NECB stock.
Northeast Community Bancorp, Inc. (NECB) generated $52.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Northeast Community Bancorp, Inc. (NECB) generated $50.8M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Northeast Community Bancorp, Inc. (NECB) spent $1.7M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Northeast Community Bancorp, Inc. (NECB) returned $13.3M to shareholders via cash dividends and spent $1.6M on share repurchases. This shows the company's commitment to returning capital to its equity investors.