Revenue performance remains under pressure as net interest margin compressed from 1.4% in 2023Q4 to 1.2% in 2026Q1, reflecting intensified deposit competition.
| 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 |
|---|
| Net Interest Income | 100.61M | 100.74M | 102.79M | 97.19M | 63.88M | 43.3M | 39M | 39.65M | 38.34M | 30.81M | 23.2M | 18.2M | 16.5M | 15.36M | 16.27M | 16.97M | 16.21M | 14.28M | 13.4M | 11.68M | 10.86M | 10.54M | 10.39M |
| NII Growth % | -5.6% | -2% | 5.76% | 52.16% | 47.51% | 11.03% | -1.63% | 3.4% | 24.44% | 32.78% | 27.48% | 10.29% | 7.45% | -5.56% | -4.18% | 4.73% | 13.49% | 6.6% | 14.66% | 7.64% | 2.97% | 1.45% | - |
| Net Interest Margin % | 4.97% | 4.88% | 5.12% | 5.51% | 4.48% | 3.53% | 4.03% | 4.15% | 4.4% | 3.78% | 3.16% | 3.07% | 3.2% | 3.35% | 3.66% | 3.47% | 3.48% | 2.71% | 3.16% | 3.4% | 3.76% | 4.41% | 4.38% |
| Interest Income | 151.88M | 154.12M | 160.01M | 132.49M | 72M | 48.4M | 48.98M | 54.68M | 47.82M | 37.34M | 28.59M | 22.26M | 19.95M | 18.55M | 20.03M | 22.15M | 24.64M | 24.37M | 21.95M | 17.6M | 15.35M | 13.65M | 12.88M |
| Interest Expense | 51.27M | 53.38M | 57.22M | 35.3M | 8.13M | 5.1M | 9.98M | 15.03M | 9.48M | 6.53M | 5.38M | 4.05M | 3.44M | 3.19M | 3.76M | 5.18M | 8.44M | 10.09M | 8.55M | 5.92M | 4.49M | 3.11M | 2.49M |
| Loan Loss Provision | -334K | -97K | 740K | 972K | 439K | 3.61M | 814K | 727K | 1.11M | 51K | 146K | 434K | -208K | -554K | 5.62M | 1.11M | 3.49M | 7.31M | 411K | 338K | 0 | 0 | 0 |
| Non-Interest Income | 1.76M | 3.25M | -168K | 1.22M | 1.58M | 2.35M | 2.57M | 3.02M | 2.71M | 2.71M | 2.17M | 1.86M | 1.89M | 1.99M | 2.59M | 1.88M | 3.64M | 1.5M | 1.79M | 19.77M | 619K | 534K | 423K |
| Non-Interest Income % | 1.15% | 2.06% | -0.11% | 0.91% | 2.15% | 4.62% | 4.99% | 5.24% | 5.37% | 6.76% | 7.07% | 7.73% | 8.65% | 9.69% | 11.44% | 7.83% | 12.88% | 5.8% | 7.56% | 52.9% | 3.88% | 3.76% | 3.18% |
| Total Revenue | 153.65M | 157.37M | 159.84M | 133.7M | 73.59M | 50.75M | 51.55M | 57.7M | 50.53M | 40.04M | 30.76M | 24.12M | 21.84M | 20.54M | 22.62M | 24.03M | 28.28M | 25.88M | 23.74M | 37.37M | 15.97M | 14.19M | 13.31M |
| Revenue Growth % | -19.11% | -1.55% | 19.55% | 81.7% | 45% | -1.55% | -10.66% | 14.19% | 26.2% | 30.18% | 27.52% | 10.46% | 6.3% | -9.17% | -5.9% | -15.03% | 9.31% | 8.99% | -36.47% | 134.04% | 12.55% | 6.6% | - |
| Non-Interest Expense | 41.04M | 41.82M | 36.11M | 32.69M | 30.59M | 26.47M | 25.15M | 25.01M | 23.13M | 18.94M | 17.09M | 16.1M | 16.12M | 16.37M | 18.05M | 14.19M | 13.59M | 13.9M | 11.5M | 9.83M | 8.87M | 7.51M | 8.08M |
| Efficiency Ratio | 26.71% | 26.58% | 22.59% | 24.45% | 41.57% | 52.15% | 48.78% | 43.35% | 45.77% | 47.3% | 55.56% | 66.74% | 73.81% | 79.68% | 79.79% | 59.05% | 48.05% | 53.71% | 48.44% | 26.29% | 55.55% | 52.97% | 60.7% |
| Operating Income | 61.67M | 62.26M | 65.77M | 64.74M | 34.43M | 15.57M | 15.61M | 17.09M | 16.81M | 14.53M | 8.14M | 3.54M | 2.48M | 1.54M | -4.82M | 3.54M | 2.77M | -5.43M | 3.28M | 21.29M | 2.6M | 3.58M | 2.74M |
| Operating Margin % | 40.14% | 39.56% | 41.15% | 48.42% | 46.79% | 30.69% | 30.28% | 29.61% | 33.27% | 36.28% | 26.48% | 14.66% | 11.38% | 7.48% | -21.29% | 14.74% | 9.8% | -20.98% | 13.82% | 56.96% | 16.31% | 25.24% | 20.56% |
| Operating Income Growth % | - | -5.34% | 1.59% | 88.04% | 121.07% | -0.24% | -8.63% | 1.62% | 15.73% | 78.35% | 130.34% | 42.35% | 61.61% | 131.92% | -235.94% | 27.78% | 151.07% | -265.49% | -84.59% | 717.47% | -27.26% | 30.85% | - |
| Pretax Income | 61.67M | 62.26M | 65.77M | 64.74M | 34.43M | 15.57M | 15.61M | 16.93M | 16.81M | 14.53M | 8.14M | 3.54M | 2.48M | 1.54M | -4.82M | 3.55M | 2.77M | -5.43M | 3.28M | 21.29M | 2.6M | 3.56M | 2.74M |
| Pretax Margin % | 40.14% | 39.56% | 41.15% | 48.42% | 46.79% | 30.69% | 30.28% | 29.34% | 33.27% | 36.28% | 26.48% | 14.66% | 11.38% | 7.48% | -21.29% | 14.78% | 9.8% | -20.98% | 13.82% | 56.96% | 16.31% | 25.1% | 20.56% |
| Income Tax | 17.87M | 17.85M | 18.7M | 18.46M | 9.59M | 3.67M | 3.28M | 3.98M | 3.79M | 6.48M | 3.12M | 1.19M | 787K | 400K | -2.3M | 1.2M | 904K | -2.81M | 1.18M | 9.15M | 1.05M | 1.57M | 1.17M |
| Effective Tax Rate % | 28.98% | 28.66% | 28.43% | 28.52% | 27.84% | 23.56% | 21.02% | 23.49% | 22.51% | 44.59% | 38.28% | 33.77% | 31.68% | 26.02% | 47.79% | 33.7% | 32.61% | 51.81% | 35.91% | 42.98% | 40.17% | 44.12% | 42.87% |
| 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 |
| Net Margin % | 28.51% | 28.22% | 29.45% | 34.61% | 33.76% | 23.46% | 23.92% | 22.45% | 25.78% | 20.1% | 16.34% | 9.71% | 7.77% | 5.54% | -11.12% | 9.8% | 6.6% | -10.11% | 8.85% | 32.48% | 9.76% | 14.03% | 11.74% |
| Net Income Growth % | -5.34% | -5.65% | 1.72% | 86.27% | 108.68% | -3.44% | -4.82% | -0.57% | 61.83% | 60.14% | 114.65% | 38.01% | 49.25% | 145.23% | -206.75% | 26.07% | 171.41% | -224.45% | -82.68% | 679.01% | -21.71% | 27.32% | - |
| Net Income (Continuing) | 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 |
| EPS (Diluted) | 3.24 | 3.25 | 3.52 | 3.32 | 1.58 | 0.75 | 0.76 | 1.08 | 1.09 | 0.67 | 0.42 | 0.20 | 0.14 | 0.09 | -0.20 | 0.19 | 0.15 | -0.20 | 0.16 | 0.95 | 0.06 | 0.16 | 0.12 |
| EPS Growth % | -6.4% | -7.67% | 6.02% | 110.13% | 110.67% | -1.32% | -29.63% | -0.92% | 62.69% | 59.52% | 110% | 42.86% | 55.56% | 145% | -205.26% | 26.67% | 175% | -225% | -83.16% | 1483.33% | -62.5% | 33.33% | - |
| EPS (Basic) | - | 3.35 | 3.58 | 3.32 | 1.61 | 0.75 | 0.76 | 1.08 | 1.09 | 0.67 | 0.42 | 0.20 | 0.14 | 0.09 | -0.20 | 0.19 | 0.15 | -0.20 | 0.16 | 0.95 | 0.06 | 0.16 | 0.12 |
| Diluted Shares Outstanding | 13.52M | 13.66M | 13.36M | 13.94M | 15.73M | 15.85M | 16.15M | 12.03M | 12M | 11.98M | 11.97M | 11.97M | 12.11M | 12.32M | 12.29M | 12.46M | 12.71M | 12.8M | 12.77M | 12.74M | 12.73M | 12.72M | 12.72M |
Regional real estate concentration
As reported in recent financial filings, NECB's net interest income has trended downward from a peak of $26.3 million in 2024Q3 to $24.1 million in 2026Q1, reflecting a challenging environment where rising funding costs appear to be outpacing the yield generated from the bank's core loan portfolio.
The consistent contraction in NII growth suggests that the bank is struggling to pass on higher interest expenses to its borrower base in the competitive Northeast corridor. Investors should monitor whether this trend indicates a structural inability to reprice assets effectively or simply a temporary lag in the current interest rate cycle.
Based on the provided quarterly data, NECB's net interest margin has compressed from 1.4% in 2023Q4 to 1.2% in 2026Q1, signaling that the bank's spread management is under significant pressure as deposit competition intensifies across its primary New York and Massachusetts operating markets.
This narrowing margin suggests that the bank's reliance on deposit-heavy funding is becoming increasingly expensive relative to the yields on its construction and multifamily loan book. The inability to maintain a 1.4% NIM indicates that the bank may be forced to choose between sacrificing volume or accepting further margin erosion.
According to the latest income statement data, NECB has maintained a relatively disciplined efficiency ratio, which fluctuated between 21.8% and 29.6% over the last ten quarters, suggesting that management continues to prioritize cost control despite the recent revenue headwinds observed in the most recent reporting period.
While the efficiency ratio remains low by industry standards, the recent uptick to 29.6% in 2026Q1 warrants further investigation into whether this represents a permanent shift in operating costs or a temporary spike. Maintaining this level of efficiency is critical for the bank to preserve profitability in a period of declining net interest income.
As indicated by the quarterly income statements, NECB's provision for loan losses has shown significant volatility, ranging from net recoveries in 2024 to a $1.0 million expense in 2024Q4, which suggests that the bank's credit quality assessment remains highly sensitive to regional real estate market fluctuations.
The lack of consistent provision expense may imply that the bank is currently benefiting from a benign credit environment, but the underlying concentration in construction lending suggests that future credit costs could escalate rapidly. Analysts should monitor the bank's ability to maintain asset quality as the construction pipeline matures and potential collateral valuations shift.
Based on reported figures, non-interest income has remained a minor component of total revenue, peaking at only 3.6% in 2023Q4 and dropping to 2.2% in 2026Q1, which highlights the bank's heavy dependency on interest-based earnings rather than diversified fee-generating business lines.
The volatility in fee income, including negative figures in 2024Q4, suggests that the bank lacks a stable, recurring non-interest revenue stream to offset interest rate sensitivity. This reliance on interest income leaves the bank's earnings profile highly exposed to the cyclicality of the regional real estate market.
Quick answers to the most common questions about buying NECB stock.
Northeast Community Bancorp, Inc. (NECB) is profitable, generating $44.4M in net income for the fiscal year ending 2025 with a net profit margin of 28.2%.
Northeast Community Bancorp, Inc. (NECB) reported an operating income of $62.3M, resulting in an operating profit margin of 39.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Northeast Community Bancorp, Inc. (NECB) generated $104.1M in gross profit for the year, representing a gross profit margin of 66.1%. This demonstrates the company's core pricing power and production efficiency.