Northeast Community Bancorp, Inc. (NECB)

Overview

Northeast Community Bancorp, Inc. is established as the parent holding company for NorthEast Community Bank, delivering a comprehensive range of financial services tailored for both individuals and businesses. With its foundational year dating back to 1934 and its headquarters situated in White Plains, New York, the company has grown to operate full-service branches across various counties in New York and Massachusetts. Additionally, it maintains loan production offices in White Plains and New City counties in New York as well as Danvers, Massachusetts, thereby broadening its reach and service capabilities.

Products and Services

The diverse array of financial products and services offered by Northeast Community Bancorp, Inc. includes:

• Deposit Accounts: Catering to the banking needs of its customers, the company accepts a variety of deposit instruments. This includes checking accounts, money market accounts, regular savings accounts, and non-interest bearing demand accounts, alongside certificates of deposits. These offerings are designed to meet the diverse needs of customers, whether they are seeking convenience, yield, or security in their banking products.
• Loan Services: A significant aspect of its services includes providing loans which comprise construction loans, commercial and industrial loans, multifamily and mixed-use real estate loans, non-residential real estate loans, and personal consumer loans. This extensive loan portfolio is indicative of the bank's commitment to fueling economic growth and supporting the financial needs of different sectors and individuals.
• Investment and Liquid Assets: Northeast Community Bancorp, Inc. strategically invests in a spectrum of liquid assets. This includes obligations of the U.S. Treasury, municipal securities, deposits at the Federal Home Loan Bank of New York, federally insured institutions’ certificates of deposit, as well as various federal agencies, and state and municipal government securities. Through these investments, the company ensures liquidity and seeks to optimize returns for sustained financial stability.
• Financial Planning and Advisory Services: Aiming to provide holistic financial solutions, the company extends financial planning and investment advisory services. These services are tailored to help customers navigate their financial journeys with informed, strategic decisions, enhancing their financial well-being and security.
• Insurance and Annuities: Additionally, Northeast Community Bancorp, Inc. offers life insurance products and fixed-rate annuities as part of its service portfolio. These products are designed to cater to the long-term financial planning needs of individuals, ensuring financial protection and stability for themselves and their loved ones.