NorthEast Community Bancorp, Inc. Announces Quarterly Cash Dividend

WHITE PLAINS, NY, June 20, 2024 (GLOBE NEWSWIRE) — NorthEast Community Bancorp, Inc. (the “Company”) (Nasdaq: NECB) today announced that its board of directors has declared a quarterly cash dividend of $0.10 per common share. . The dividend will be paid on or about August 6, 2024 to shareholders of record at the close of business on July 5, 2024.

About NorthEast Community Bancorp, Inc.

NorthEast Community Bancorp, headquartered at 325 Hamilton Avenue, White Plains, New York 10601, is the holding company for NorthEast Community Bank, which operates through its eleven branches located in the Bronx, of New York, Orange, Rockland and Sullivan in New York. York and Essex, Middlesex and Norfolk in Massachusetts and three loan production offices located in New City, New York, White Plains, New York and Danvers, Massachusetts. For more information about NorthEast Community Bancorp and NorthEast Community Bank, please visit www.necb.com.

Caution Regarding Forward-Looking Statements

This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe”, “expect”, “anticipate”, “estimate” and “intend” or future or conditional verbs such as “will”, “would” , “should,” “could,” or “can.” These statements are based on the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements due to numerous factors. Factors that could cause actual results to differ materially from expected results include, but are not limited to, changes in market interest rates, regional and national economic conditions (including higher inflation and its impact on regional and national economic conditions), legislative and regulatory changes. , the monetary and fiscal policies of the United States Government, including the policies of the United States Treasury and the Federal Reserve, the quality and composition of loan or investment portfolios, the demand for loan products, decreasing deposit levels requiring increased borrowing to fund loans and securities, competition, demand for financial services in NorthEast Community Bank’s market area, changes in real estate market values ​​in the area NorthEast Community Bank’s market performance, the impact of outages, disruptions or breaches of the Company’s operational or security systems, data or infrastructure. , or those of third parties, including as a result of cyberattacks or campaigns, and changes to relevant accounting principles and guidelines. In addition, other risks and uncertainties may be described in our annual and quarterly reports filed with the United States Securities and Exchange Commission (the “SEC”), which are available on the SEC’s website located at address www.sec.gov. These risks and uncertainties should be considered in evaluating any forward-looking statements and undue reliance should not be placed on such statements. Except as required by applicable law or regulation, the Company undertakes no obligation, and specifically disclaims any obligation, to publicly disclose the result of any revisions that may be made to any forward-looking statements to reflect subsequent events or circumstances. on the date of the declarations. or to reflect the occurrence of anticipated or unanticipated events.

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