UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 4, 2022
NORTHEAST COMMUNITY BANCORP, INC.
(Exact Name of Registrant as Specified in Its Charter)
| Maryland | 001-40589 | 86-3173858 |
| (State or other jurisdiction of | (Commission | (IRS Employer |
| incorporation or organization) | File Number) | Identification No.) |
325 Hamilton Avenue, White Plains, New York 10601
(Address of principal executive offices) (Zip Code)
(914) 684-2500
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $0.01 per share | NECB | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 8.01 | Other Events. |
On May 4, 2022, NorthEast Community Bancorp, Inc. (the “Company”) issued a press release announcing that its Board of Directors has declared a special one-time cash dividend of $0.18 per common share. The dividend will be paid on or about May 31, 2022 to shareholders of record as of the close of business on May 16, 2022.
A copy of the Company’s press release is attached as Exhibit 99.1 and is furnished herewith.
| Item 9.01 | Financial Statements and Other Exhibits. |
| (d) | Exhibits |
| Number | Description | |
| 99.1 | Press Release dated May 4, 2022 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.
| NORTHEAST COMMUNITY BANCORP, INC. | ||
| Date: May 5, 2022 | By: | /s/ Kenneth A. Martinek |
| Kenneth A. Martinek | ||
| Chairman and Chief Executive Officer |
Exhibit 99.1
FOR IMMEDIATE RELEASE
| DATE: | May 4, 2022 |
| CONTACT: | Kenneth A. Martinek |
| Chairman and Chief Executive Officer | |
| PHONE: | (914) 684-2500 |
NORTHEAST COMMUNITY BANCORP, INC. ANNOUNCES
SPECIAL ONE TIME CASH DIVIDEND
White Plains, New York, May 4, 2022 — NorthEast Community Bancorp, Inc. (the “Company”) (Nasdaq: NECB) announced today that its Board of Directors has declared a special one-time cash dividend of $0.18 per common share. The dividend will be paid on or about May 31, 2022 to shareholders of record as of the close of business on May 16, 2022.
About NorthEast Community Bancorp, Inc.
The Company is the holding company for NorthEast Community Bank. NorthEast Community Bank is a New York State chartered savings bank that operates seven full-service branches in New York and three full-service branches Massachusetts and loan production offices in White Plains and New City, New York.
Cautionary Note About 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 “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain 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, the effect of the COVID-19 pandemic (including its impact on NorthEast Community Bank’s business operations and credit quality, on our customers and their ability to repay their loan obligations and on general economic and financial market conditions), legislative and regulatory changes, monetary and fiscal policies of the United States government, including policies of the United States Treasury and the Federal Reserve Board, the quality and composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in NorthEast Community Bank’s market area, changes in the real estate market values in NorthEast Community Bank’s market area and changes in relevant accounting principles and guidelines. 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 does not undertake, and specifically disclaims any obligation, to release publicly the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events.