Revenue contraction is broad-based, with NII declining 1.7% year-over-year to $24.6M, NIM falling to 1.2% from 1.4%, and the efficiency ratio widening to 28.9% from 21.8% two years prior, suggesting the spread squeeze is now accompanied by negative operating leverage.
Northeast Community Bancorp, Inc. (NECB) annual income statement — 22-year revenue, gross profit & net income history
| 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 | 100.33M | 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 % | -1% | -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 % | 4.53% | 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 | 149.29M | 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 | 48.96M | 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 | 526K | -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 | 1.91M | 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 % | 1.87% | 3.12% | -0.16% | 1.24% | 2.42% | 5.14% | 6.19% | 7.08% | 6.6% | 8.07% | 8.57% | 9.29% | 10.27% | 11.47% | 13.73% | 9.98% | 18.35% | 9.52% | 11.81% | 62.85% | 5.39% | 4.82% | 3.91% |
| Total Net Revenue | 102.25M | 103.98M | 102.62M | 98.41M | 65.46M | 45.65M | 41.57M | 42.67M | 41.05M | 33.52M | 25.38M | 20.07M | 18.39M | 17.35M | 18.85M | 18.86M | 19.85M | 15.78M | 15.19M | 31.45M | 11.47M | 11.08M | 10.81M |
| Revenue Growth % | 0.64% | 1.33% | 4.29% | 50.33% | 43.4% | 9.8% | -2.57% | 3.94% | 22.48% | 32.06% | 26.47% | 9.11% | 6.01% | -7.97% | -0.02% | -5% | 25.76% | 3.9% | -51.7% | 174.11% | 3.59% | 2.42% | - |
| Non-Interest Expense | 43.11M | 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 | 42.16% | 40.22% | 35.19% | 33.22% | 46.73% | 57.98% | 60.49% | 58.62% | 56.33% | 56.51% | 67.33% | 80.22% | 87.63% | 94.33% | 95.71% | 75.26% | 68.47% | 88.05% | 75.7% | 31.24% | 77.31% | 67.85% | 74.7% |
| Operating Income | 58.61M | 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 % | 57.32% | 59.87% | 64.09% | 65.79% | 52.6% | 34.12% | 37.55% | 40.04% | 40.95% | 43.34% | 32.09% | 17.62% | 13.51% | 8.86% | -25.54% | 18.78% | 13.97% | -34.39% | 21.59% | 67.68% | 22.69% | 32.32% | 25.3% |
| 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 | 58.61M | 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 % | 57.32% | 59.87% | 64.09% | 65.79% | 52.6% | 34.12% | 37.55% | 39.68% | 40.95% | 43.34% | 32.09% | 17.62% | 13.51% | 8.86% | -25.54% | 18.84% | 13.97% | -34.39% | 21.59% | 67.68% | 22.69% | 32.15% | 25.3% |
| Income Tax | 17.38M | 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 % | 29.65% | 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 | 41.23M | 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 % | 40.32% | 42.71% | 45.87% | 47.03% | 37.95% | 26.08% | 29.66% | 30.36% | 31.73% | 24.02% | 19.81% | 11.67% | 9.23% | 6.55% | -13.33% | 12.49% | 9.41% | -16.57% | 13.84% | 38.59% | 13.58% | 17.97% | 14.45% |
| Net Income Growth % | -5.91% | -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) | 41.23M | 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) | 3.04 | 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 % | -5.3% | -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 | 13.57M | 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 |
Quick answers to the most common questions about buying NECB stock.
For fiscal year 2025, Northeast Community Bancorp, Inc. (NECB) reported total revenue of $104.0M. This represents a 861.6% increase compared to $10.8M in 2004.
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 42.7%.
Northeast Community Bancorp, Inc. (NECB) reported an operating income of $62.3M, resulting in an operating profit margin of 59.9%. 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 100.1%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
NIM compression and revenue contraction
Metrics are mathematically derived from official filings.
NII Contraction Deepens as Deposits Reprice
According to NECB's reported financial statements, net interest income has declined for five consecutive quarters, falling from $26.3M in 2024Q3 to $24.6M in 2026Q2, with year-over-year growth turning negative at -1.7% as funding costs catch up with asset yields.
The reversal from mid-2024's 9%+ growth run-rate to persistent contraction suggests NECB's thrift-style balance sheet is absorbing a full lagged repricing of deposits without a meaningful offsetting loan-growth tailwind. Because fee income contributes less than 2% of total revenue, NII alone essentially dictates the earnings trajectory, and management's ability to defend spread through deposit repricing or asset-mix changes will determine whether this contraction troughs or deepens further in coming quarters.
NIM Compression Signals Structural Spread Squeeze
As reported in NECB's quarterly filings, net interest margin has contracted from 1.4% in 2024Q2 to 1.2% in the two most recent quarters, a decline of roughly 20 basis points that has persisted despite stabilizing provision expense and operating income near $14M.
A 1.2% NIM sits well below regional peers such as NBT Bancorp and TrustCo, though direct comparability is limited by NECB's thrift-style balance-sheet composition and asset mix. The sustained compression appears to reflect a funding-cost lag that has outpaced any repricing benefit on the asset side, and if rates continue to normalize downward, investors should monitor whether asset yields reprice faster than deposit costs — the historical pattern across thrift institutions suggests deposit betas may reset asymmetrically against the bank.
Efficiency Gains Fade as Operating Leverage Turns Negative
Based on NECB's reported figures, the efficiency ratio has deteriorated from 21.8% in 2024Q2 to 28.9% in 2026Q2, even as operating income fell from $17.7M to $13.8M, suggesting fixed-cost intensity is rising faster than revenue is contracting.
While a sub-30% efficiency ratio remains exceptional in absolute terms against peers like TrustCo (29.2%) and NBT Bancorp (25.3%), the direction of travel matters more than the level: seven quarters of ratio expansion in a shrinking-revenue environment indicates NECB is losing, not gaining, operating leverage. With fee income contributing minimally to the revenue base, there appears to be little structural buffer to absorb further NII declines without direct margin pressure — an outcome that could weigh on the near-term EPS trajectory unless expense discipline or balance-sheet repositioning intervenes.
Provision Volatility Masks Underlying Credit Signal
As disclosed in NECB's quarterly results, provision expense has swung from a $1.0M build in 2024Q4 to a $334K release in 2025Q4 before reverting to an $860K charge in 2026Q2, a pattern that complicates trend identification in credit-cost trajectory.
The back-and-forth pattern between builds and releases may indicate reserve calibration adjustments rather than genuinely deteriorating credit performance, but the 2026Q2 reversion to a material charge after two quarters of zero provision warrants close monitoring. Without access to nonperforming asset levels, charge-off rates, or allowance coverage ratios in the supplied dataset, it remains unclear whether the Q2 build reflects emerging loan-quality stress or simply an accounting catch-up — investors should look to subsequent filings for directional confirmation.
Earnings Quality Undermined by Fee Income Weakness
According to NECB's reported revenue composition, non-interest income has averaged roughly $470K per quarter over the last four quarters, contributing less than 2% of total revenue, meaning the bank's earnings are almost entirely a function of net interest income spread dynamics.
The 2024Q4 negative fee print (-$522K) suggests some portion of non-interest income may be tied to marks, accretion, or other episodic items rather than recurring core activity, which could mean headline revenue overstates earnings quality in periods when those items flip positive. Against peers with diversified revenue streams, NECB's near-total dependence on NIM-driven earnings appears to leave little structural cushion if the rate cycle continues to compress asset yields faster than funding costs — a scenario that, based on the observed 20 basis point NIM decline over eight quarters, cannot be dismissed as remote.