NorthEast Community Bancorp Announced The Repurchase of Up To 5% Of Its Outstanding Stock

NorthEast Community Bancorp, Inc. NECB, the holding company for NorthEast Community Bank, announced today that the Company’s board of directors has approved the repurchase for up to 297,563 shares, or approximately 5.0% of the Company’s outstanding common stock held by persons other than NorthEast Community Bancorp MHC. These repurchases will be conducted solely through a Rule 10b5-1 repurchase plan with Sandler O’Neill & Partners, L.P., based upon parameters of the Rule 10b5-1 repurchase plan. Repurchased shares will be held in treasury. This is the first repurchase plan announced by the Company since becoming a public company in July 2006. President and Chief Executive Officer Kenneth A. Martinek stated, “In view of our strong capital position and the current price level of the Company’s common stock, we believe that the repurchase of our shares represents an attractive investment opportunity which will benefit our Company and our stockholders.”