The Bank Slate


NorthEast Community in NY sells wealth management division

NorthEast Community Bancorp in White Plains, N.Y., has sold its wealth management division.

The $1.8 billion-asset company said in a press release that it sold Harbor West Wealth Management in December to an unnamed third party. The price wasn’t disclosed.

As a result, goodwill fell to zero on Dec. 31 from $200,000 a year earlier.

NorthEast Community bought the business in 2007. It offered investment advisory and financial planning services through a networking arrangement with a registered broker-dealer and investment adviser.

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