New York-based Northeast Community Bancorp Inc., the holding company for Northeast Community Bank, is set to open a fourth branch location in Massachusetts, continuing its expansion in Massachusetts where the bank also operates a loan production office.

The bank is also in the process of establishing and licensing a new insurance agency as a subsidiary of the bank, which will enable the bank to offer certain insurance products to its customers and the general public.

"We are excited to add another branch to our operations in Massachusetts and will continue to look for other opportunities within the commonwealth that are consistent with our business plan," said Kenneth A. Martinek, chairman, president and chief executive officer. "We believe that the addition of the insurance agency subsidiary will complement the existing services offered by Hayden Wealth Management, a division of the bank that provides investment advisory and financial planning services to customer and the general public."

Northeast Community Bank is a federally chartered savings bank that operates four full-service offices in New York, three full service branches in Danvers, Plymouth and Framingham, and loan production offices in Danvers and White Plains, N.Y.