Core Viewpoint - NorthEast Community Bancorp, Inc. reported a net income of $10.6 million for Q1 2025, a decrease from $11.4 million in Q1 2024, attributed to a challenging economic environment and changes in loan demand and interest income [1][2][20]. Financial Performance - Net income for Q1 2025 was $10.6 million, or $0.80 per basic share, compared to $11.4 million, or $0.87 per basic share in Q1 2024 [1][46]. - Net interest income decreased by $722,000, or 2.9%, to $24.3 million in Q1 2025 from $25.0 million in Q1 2024 [20][46]. - Total interest and dividend income increased slightly by $86,000, or 0.2%, to $38.2 million in Q1 2025 [21][46]. - Non-interest income rose significantly by $681,000, or 122.9%, to $1.2 million in Q1 2025, driven by unrealized gains on equity securities and increased loan fees [29][30]. Balance Sheet Highlights - Total assets decreased by $76.2 million, or 3.8%, to $1.9 billion as of March 31, 2025, primarily due to a reduction in net loans [3][44]. - Net loans decreased by $87.3 million, or 4.8%, to $1.7 billion, with notable declines in construction loans [7][44]. - Cash and cash equivalents increased by $11.2 million, or 14.3%, to $89.5 million, reflecting a decrease in loans and an increase in stockholders' equity [4][44]. Asset Quality and Credit Losses - The allowance for credit losses related to loans increased to $5.1 million, or 0.30% of total loans, from $4.8 million, or 0.27% of total loans [10][35]. - Non-performing assets remained stable at $5.1 million, with a ratio of non-performing assets to total assets at 0.26% [34][35]. Capital and Regulatory Ratios - Total stockholders' equity increased by $8.9 million, or 2.8%, to $327.2 million, representing 16.92% of total assets [18][37]. - The bank's capital position is strong, with a tier 1 leverage capital ratio of 15.09% and a total risk-based capital ratio of 15.10% as of March 31, 2025 [38][39]. Loan Portfolio and Originations - During Q1 2025, the company originated loans totaling $170.1 million, with a focus on construction and multi-family loans [8][46]. - The composition of the loan portfolio showed a decrease in construction loans but an increase in multi-family and commercial loans [7][46].