This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Northeast Community Bancorp, Inc. Announces Expansion In Massachusetts

Stocks in this article: NECB

Northeast Community Bancorp, Inc. (Nasdaq Global Market: NECB), the holding company for Northeast Community Bank, announced today that it is expanding its lending operations in Massachusetts, where the Bank currently has two branch offices, one of which includes a loan production office.

In light of recent consolidation in the banking industry in Massachusetts and consistent with the Company’s business plan, the Company has expanded its operations in Massachusetts, particularly in and around the I-495 corridor. NorthEast Community Bank recently hired additional staff in Danvers, Massachusetts to support the expansion of its commercial and commercial real estate lending programs. In addition, the Bank intends to begin originating residential one- to four- family mortgages throughout eastern Massachusetts, a loan product that the Bank currently does not offer in any of its lending markets. To support the expansion of its lending operations in Massachusetts, the Bank has hired nine (9) new employees for its operations in Massachusetts, all of whom will be located in Danvers who collectively bring over 160 years of experience in commercial, commercial real estate and residential mortgage lending, and will compliment the experience of the Bank’s existing officers and employees in Massachusetts.

The Bank has also purchased a new office building for its lending operations in Massachusetts which is located in Danvers. The Bank expects to move its loan production services to the additional Danvers office on or about August 1, 2011.

Commenting on the Bank’s expansion of its Massachusetts operations, Kenneth A. Martinek, Chairman, President and Chief Executive Officer of the Company, said “We are very excited about the expansion of our loan products in Massachusetts and are confident in our ability to continue to take advantage of our expertise in commercial, nonresidential real estate lending and residential mortgage lending to expand our customer relationships in the Massachusetts market. Our new Massachusetts employees bring a wealth of experience in lending as well as long term relationships with individuals and businesses in our lending market and are a compliment to our existing banking operations within the Commonwealth.”

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs