NorthEast Community Bancorp Q3 profit slips on interest margin pressure

Overview * NorthEast Community Bancorp Q3 net income declines to $11.9 mln from $12.7 mln last year * Net interest income for Q3 falls to $25.9 mln from $26.3 mln last year * Company maintains strong asset quality with no non-performing loans Outlook * Company did not provide specific financial guidance for future periods Result Drivers * STRONG LOAN DEMAND – Co reports robust loan demand, particularly in construction and multi-family lending * INTEREST MARGIN PRESSURE – Decrease in yield on interest-earning assets led to lower net interest income * COST MANAGEMENT – Strategy to reduce brokered deposits to lower cost of funds Key Details Metric Beat/Mis Actual Consensu s s Estimate Q3 Net $11.86 Income mln Q3 Net $25.93 Interest mln Income Q3 Net 5.38% Interest Margin Q3 $16.60 Pretax mln