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Northeast community bank nyc

northeast community bank nyc

Peoples Security Bank & Trust recently donated to Northeast Community Center. NY in support of their “Take a Chance on Great Futures” fundraiser. IOLA FUND OF THE STATE OF NEW YORK participating banks in New York, and you're free to choose any one of them. NorthEast Community Bank. Business hours, phone number, directions, reviews, and address for NorthEast Community Bank at 242 W 23rd St, New York City, NY.

: Northeast community bank nyc

Northeast community bank nyc

NorthEast Community Bank Personal Loan Rates

North East Community Bank Personal Loans Summary and Portfolio

NorthEast Community Bank is very active in personal loans, with a total carrying amount of loans to individuals for household, family and other personal expenditures that are covered by FDIC loss-sharing agreements of $3,780,000. Nonaccrual other loans from NorthEast Community Bank to individuals for household, family and other personal expenditures on a consolidated basis amount to $1,051,000.

Below are some other banks and lending institutions that specialize in personal loans for you to compare.

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NorthEast Community Bank

Founded September 01, 1934
northeast community bank nyc FDIC Certificate Number - 29147
325 Hamilton Avenue, White Plains, New York

Total Assets: $584,131,000

Total Deposits: $428,695,000

Similar Lenders

Lending Club Personal Loans Up to $40,000, starting at 10.68% APR

Lending Club offers personal loans for credit card refinancing, debt consolidation, home improvement, major purchases, and more.

Borrowers who used a personal loan via Lending Club to consolidate debt or pay off high interest credit cards received an interest rate 35% lower than they were paying on their outstanding debt or credit cards.

Volume of Personal Loan at NorthEast Community Bank

Personal loans -retained interest


Personal loans -subordinated securities


Personal loans -standby letters of credit


Personal loans -credit enhancements


Personal loans -bank asset sales


Consumer assets sold with recourse


Consumer loan charge-offs


Consumer loan recoveries


Consumer loan net charge-offs


NorthEast Community Bank Personal Huntington bank latonia ky hours Chargeoffs, Recoveries

For NorthEast Community Bank's assets sold and securitized by other consumer personal loans, the charge-offs amount to $404,000 and the recoveries amount to $19,000.

An additional figure for personal loan performance are other consumer loans to individuals for household, family and other personal expenditures that are past due still and accruing interest:

Past Due 30 -89 daysPast Due 90+ days


With FDIC Loss-sharing Agreements

Past Due 30 -89 daysPast Due 90+ days


Data produced from US Government reported Financials

NorthEast Community Bank Unsecured Personal Loans Officers

News on Personal Loans from NorthEast Community Bank

calculating your personalized mortgage rates…


NorthEast Community Pseg bill pay li Branches

10 branches found. Showing 1 - 10

Bank Routing Number

A routing number is a 9 digit code for identifying a financial institution for the purpose of routing of checks (cheques), fund transfers, direct deposits, e-payments, online payments, and other payments to the correct bank branch.

Routing numbers are also known as banking routing numbers, routing transit numbers, RTNs, ABA numbers, and sometimes SWIFT codes (although these are quite different from routing numbers as SWIFT codes are solely used for international wire transfers while routing numbers are used for domestic transfers).

Routing numbers differ for checking and savings accounts, prepaid cards, IRAs, lines of credit, and wire transfers. All banks usually have separate routing numbers for each of the states in the US.

You can look for the routing number on the check (cheque book) issued by your bank or can search this website for free.

Bank Name NorthEast Community BankBranch Name Northeast Community BankAddress 325 Hamilton AvenueCounty Westchester CountyCity White PlainsState NY-New YorkZip Code 10601Phone No. 914-684-2500Website https://www.necommunitybank.comBank Owned By Northeast Community Bcorp MhcBank Establishment Date 1934-09-01Branch Establishment Date 1934-09-01Federal Deposit Insurance Corporation (FDIC) Certificate No. 29147Federal Deposit Insurance Corporation (FDIC) Date 1934-11-14Branch Type Full Service Brick and Mortar OfficeOffice Type Main Office of the Bank

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Last Updated: 29th July, 2021

NorthEast Community Bank <div><h2>New York Community Bancorp's Recent Acquisition Is a Good Start on Its Planned Transformation</h2><div><p><strong>New York Community Bancorp</strong>( NYCB -1.15% ) kept the wave of regional bank consolidation going with its recent announcement that it plans to acquire the Michigan-based <strong>Flagstar Bancorp </strong>( FBC -1.26% ). The deal will create an $87-billion-asset institution with a presence mainly in the Northeast and Midwest. It also makes meaningful progress toward NYCB CEO Thomas Cangemi's main goal of transitioning the bank from its current thrift model into the more typical commercial banking model that has become popular today.</p><h3>Breaking down the deal </h3><p>NYCB northeast community bank nyc a nearly $58-billion-asset bank that operates largely in New York, but also has a presence in New Jersey, Ohio, Florida, and Arizona. Nearly three-quarters of <a href=wells fargo bank mn routing number loan book is in multifamily lending. Capital one online banking down bank has long operated on a thrift model, meaning much of its loan portfolio is composed of fixed-rate loans, while much of its funding comes from higher-cost deposits and borrowings.

The thrift model, which has really fallen out of favor with investors, has made NYCB liability-sensitive. That means that unlike most banks today, the bank actually performs better in an environment of falling interest rates, where the cost of its funding reprices downward along with the benchmark federal funds rate, while many of its fixed-rate loans maintain their yield. 

Flagstar Bancorp is a nearly $30-billion-asset bank that operates in Michigan, Indiana, Wisconsin, and Ohio, and has a small presence in California. It runs a big mortgage operation that flourished last year in the falling-rate environment that drove record profits in the mortgage industry. Flagstar last year generated a 29% return on average tangible common equity, which is just superb.

People standing together in a board room.

Image source: Getty Images.

NYCB plans to purchase Flagstar in an all-stock deal that values the bank at $2.6 billion, or 115% tangible book value (equity minus intangible assets and goodwill). If you're a Flagstar shareholder, that probably seems like a very low premium right now with many bank valuations at all-time highs and with Flagstar coming off a strong year. But keep in mind that Flagstar, because of its incredible mortgage earnings, grew tangible book value more than 41% northeast community bank nyc the end of the first quarter of 2020 and the end of this most recent quarter. That is a ton of growth. Additionally, mortgage banking income is not valued as highly as other sources of income, because it's cyclical.

NYCB shareholders are probably pretty happy with this price tag because the acquisition didn't dilute their equity, but rather grows equity right away upon closing of the deal by 3.5%. It also is 16% accretive to its earnings in 2022, meaning that after the acquisition is complete, NYCB's earnings are expected to be 16% higher in 2022 than they would on a stand-alone basis. Additionally, NYCB will be able to maintain its high $0.68 per common share dividend, giving the bank a dividend yield of 5.4% at its recent price of $12.53 per share, which is also a huge increase for Flagstar shareholders.

Becoming a commercial bank

Remember, part of Cangemi's grand plan is to really change the bank's loan and funding mix, and this acquisition does take meaningful steps in that direction.

On the lending side, the acquisition brings down Wells fargo opportunity checking account closed reliance on multifamily lending from 75% of its total loan portfolio to only 56%. It also adds Flagstar's mortgage warehouse lending business and makes the combined bank asset sensitive, meaning the bank will see more net interest income when the Fed raises rates.

Loan Portfolio of combined bank.

Image source: NYCB and Flagstar investor presentation.

On the funding side, Flagstar gives NYCB roughly $10.8 billion in sticky, zero-cost non-interest-bearing deposits, which are the best kind of deposits a bank can have. It also lowers NYCB's heavy reliance on borrowings from the Federal Home Loan Bank and higher-cost certificates of deposits. Overall, the acquisition reduces Flagstar's total cost of funds by 17 basis points (0.17%).

NYCB cost of funding.

Image source: NYCB and Flagstar investor presentation.

Now, even after the Flagstar acquisition, I still wouldn't call NYCB's funding base good. Its cost of funds is still quite high in this zero-rate environment, and more than 40% of its funding is still from FHLB borrowings and certificates of deposits. Additionally, commercial and industrial (C&I) loans -- those to businesses, which usually bring in high-quality deposits -- will still only make up less than 10% of total loans at the new bank.

A good start, but work to do

The acquisition of Flagstar is a big move for NYCB, but still just one step in the larger process. To get that 40% of higher-cost funding down, the combined bank will need to bring in better deposits. The good news is all banks have a lot of liquidity right now, so hopefully NYCB can start by running off more than $3 billion of its FHLB borrowings that will mature this year. Watching how quickly NYCB can run down these wholesale deposits will be important.

Then the combined bank will need to increase its C&I operations to attract more relationship lending. Cangemi certainly seems committed to this, and NYCB has already been focused on turning more of its existing banking relationships into deposit relationships or fee income opportunities. But the fact is that every bank wants C&I loans, and these could be harder to get than the bank realizes. The good news is the bank will soon be $87 billion in assets, giving it a large presence and a lot of the resources it needs to hopefully expand into more holistic commercial relationships.

While there is undoubtedly a lot of www in h to do, the acquisition is certainly a very meaningful step in the right direction. NYCB, which is not trading at a high premium, managed to score a big acquisition that makes progress on its goals without diluting its tangible common equity, or having to reduce its attractive dividend yield. Furthermore, the bank is starting to create a very clear story for investors to follow on how it can finally turn itself around. And all of this certainly deserves some recognition.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis – even one of our own – helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
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