Here are 1-2 brief analogies for NorthEast Community Bancorp (NECB):

• It's like a hyper-local Bank of America, focused on a specific geographic community for traditional banking services.
• Think of it as the Main Street equivalent of a regional bank like PNC, serving local residents and businesses.

• Deposit Services: Accepting various types of checking, savings, money market, and certificate of deposit accounts from individuals and businesses.
• Residential Real Estate Loans: Providing financing for the purchase, refinance, or construction of one-to four-family residential properties.
• Multi-family Residential Loans: Offering financing for the acquisition, refinancing, and construction of apartment buildings and other multi-unit residential properties.
• Commercial Real Estate Loans: Lending funds for the acquisition, refinancing, and development of commercial properties such as offices, retail, and industrial spaces.
• Consumer Loans: Extending credit to individuals for various personal needs, often including home equity loans and other personal loans.

NorthEast Community Bancorp (symbol: NECB) is a community bank holding company that primarily serves individuals and businesses within its local communities. Its major customer categories include:

• Individual Consumers: This category includes individuals and households who utilize the bank's personal banking services, such as checking and savings accounts, money market accounts, certificates of deposit, residential mortgage loans, home equity loans, and other consumer loans.

• Small to Medium-Sized Businesses (SMBs): This category encompasses local businesses seeking commercial banking services, including business deposit accounts, commercial and industrial (C&I) loans, business lines of credit, and other tailored financial solutions to support their operations and growth.

• Real Estate Investors and Developers: This category includes individuals and businesses involved in real estate investment and development within the bank's market area, who are primary users of the bank's commercial real estate loans and construction loans for various property types.

• Crowe LLP

Kenneth A. Martinek, Chairman of the Board and Chief Executive Officer

Mr. Martinek has served as Chairman of the Board and Chief Executive Officer of NorthEast Community Bancorp since its formation in 2006. He has been with NorthEast Community Bank since 1976 and has served as its Chief Executive Officer since 1991, and President from 1991 until January 2013. His grandfather and great uncle founded the bank. Mr. Martinek successfully completed the Company's minority stock offering in 2006 and the Company's 2021 second step conversion and public offering.

Donald S. Hom, Executive Vice President, Principal Accounting Officer and Chief Financial Officer

Mr. Hom joined NorthEast Community Bancorp and NorthEast Community Bank in 2007 and has served as Chief Financial Officer since 2013. Prior to his tenure at NorthEast Community Bancorp, Mr. Hom served for 23 years as a bank examiner and financial analyst for a Federal banking regulatory agency. He also spent six years as the chief executive officer of a New Jersey community bank.

Jose M. Collazo, Director; President and Chief Operating Officer

Mr. Collazo has served as President of NorthEast Community Bancorp and NorthEast Community Bank since January 2013 and Chief Operating Officer since February 2012. He joined NorthEast Community Bank in 1999 and previously held the role of Senior Vice President and Chief Information Officer from 2002 until February 2012.

Charles A. Martinek, Director; Senior Vice President and Chief Compliance Officer

Mr. Martinek serves as a Director, Senior Vice President, and Chief Compliance Officer of NorthEast Community Bank. He is the brother of Kenneth A. Martinek, the Chairman and CEO, and also serves on the board of directors.

The primary clear emerging threat to NorthEast Community Bancorp, as a traditional community bank, stems from the rapid growth and increasing sophistication of fintech companies and digital-only banks (neobanks). These entities offer a significantly different value proposition:

• Enhanced Digital Experience: Neobanks provide mobile-first, user-friendly interfaces, often with faster onboarding, streamlined transactions, and advanced budgeting tools that appeal to digitally native generations. This directly challenges the traditional branch-based model and potentially superior digital offerings of community banks.
• Lower Fees and Innovative Products: Many fintech challengers operate with lower overheads, allowing them to offer accounts with fewer or no monthly fees, and to innovate rapidly with new products and services tailored to specific customer segments (e.g., gig workers, young professionals).
• Increased Competition from Big Tech: Large technology companies like Apple, Google, and Amazon are increasingly encroaching on traditional banking services, offering payment solutions, credit products, and even partnering with banks to offer checking accounts. Leveraging their massive user bases and data, they pose a significant threat by disintermediating traditional banks from their customers.

These developments are akin to Netflix's disruption of Blockbuster or Uber's impact on traditional taxis, where a new business model and technology fundamentally change customer expectations and preferences for accessing services, potentially eroding the market share and relevance of established players over time.

NorthEast Community Bancorp (NECB) operates primarily in New York and Massachusetts, offering a range of financial products and services, including various types of loans and deposit services.

The addressable markets for NECB's main products and services are primarily within the Northeastern United States, specifically focusing on its operating regions in New York and Massachusetts.

• Commercial Real Estate Lending (including Construction Loans): The Northeast commercial real estate market saw a total sales volume of $2.01 billion in the second quarter of 2025. NECB specializes in commercial real estate loans, including multi-family, mixed-use properties, and commercial buildings, with a significant concentration in construction loans. The multifamily sector within the Northeast commercial real estate market is noted for robust tenant demand and stability. The broader U.S. commercial real estate market was valued at $718.2 billion in 2024 and is projected to reach $991.7 billion by 2033.
• Residential Mortgage Lending: The U.S. home mortgage market was estimated at approximately $180.91 billion in 2023 and is projected to grow to about $501.67 billion by 2032. While this is a national figure, Eastern states are anticipated to deliver strong returns on investment within this market. Northeast housing markets have shown significant increases in down payments, indicating heightened competition and demand. Home prices in the Northeast have remained strong, even as overall U.S. home prices have cooled due to increased inventory.
• Deposits: The total domestic deposits across all U.S. banks represent a substantial market, with major banks holding trillions in deposits (e.g., JPMorgan Chase had over $2 trillion in deposits as of March 2025). For community banks and thrifts in the Northeast, deposit growth has shown strength, with an annualized growth rate of 8.12% at the end of the third quarter (on a linked-quarter basis) and 6.22% over the prior year in 2015.

Share Repurchases

• NorthEast Community Bancorp completed its first stock repurchase program on April 14, 2023, having repurchased 1,637,794 shares, or 10% of its issued and outstanding common stock, at a total cost of $23.0 million, including commission costs and Federal excise taxes.
• The Company commenced a second stock repurchase program on May 30, 2023, authorizing the repurchase of 1,509,218 shares, or 10% of its issued and outstanding common stock.
• As of September 30, 2025, 1,091,174 shares had been repurchased under the second stock repurchase program.

Share Issuance

• As of February 3, 2025, a conversion offering estimated the aggregate pro forma valuation of shares to be issued and outstanding at $78,715,570 at the midpoint, representing 7,871,557 shares at $10.00 per share. This offering included newly-issued shares from the MHC's ownership interest and exchange shares for existing public shareholders.

Outbound Investments

• The Company purchased $3.0 million in equity securities during the nine months ended September 30, 2025, contributing to an increase in equity securities to $25.5 million from $22.0 million at December 31, 2024.