Welcome to our dedicated page for Western New Eng Bancorp news (Ticker: WNEB), a resource for investors and traders seeking the latest updates and insights on Western New Eng Bancorp stock.
Western New England Bancorp, Inc. (WNEB), parent company of Westfield Bank, provides a trusted financial foundation for Massachusetts and Connecticut communities since 1853. This page aggregates official updates about their commercial lending strategies, digital banking enhancements, and community development programs.
Investors and stakeholders will find timely reports on quarterly earnings, regulatory filings, and strategic initiatives. Discover updates on leadership appointments, technology upgrades, and partnerships supporting local businesses.
Key resources include press releases about deposit product innovations, wealth management services, and branch network expansions. Track the institution's ongoing commitment to balancing traditional values with modern financial solutions.
Bookmark this page for consolidated access to WNEB's latest developments. Check back regularly for insights into one of New England's most stable community banking institutions.
Western New England Bancorp (WNEB) reported net income of $2.3 million ($0.11 per diluted share) for Q1 2025, down from $3.0 million ($0.14 per share) in Q1 2024. The Board declared a quarterly cash dividend of $0.07 per share, payable May 21, 2025.
Key financial metrics include:
- Net interest margin increased to 2.49% (up 8 basis points)
- Total gross loans grew by $9.3 million to $2.1 billion
- Core deposits increased by $70.2 million (4.5%)
- Loan-to-deposit ratio decreased to 89.3%
The company announced a new stock repurchase plan (2025 Plan) to repurchase up to 1.0 million shares (4.8% of outstanding shares), which will commence after completing the existing 2024 Plan. Asset quality remains strong with nonaccrual loans at 0.29% of total loans.
Western New England Bancorp (WNEB) reported Q4 2024 net income of $3.3 million ($0.16 per diluted share), up from $2.5 million ($0.12 per diluted share) in Q4 2023. The company declared a quarterly cash dividend of $0.07 per share, payable February 26, 2025.
Key financial highlights include: total loans increased by $42.9 million (2.1%) to $2.1 billion, total deposits grew by $118.9 million (5.6%) to $2.3 billion, and the loan-to-deposit ratio decreased to 91.5%. The company maintained strong asset quality with nonaccrual loans at 0.26% of total loans.
During 2024, WNEB repurchased 934,282 shares at an average price of $7.94 per share. The company's book value per share increased to $11.30, while tangible book value per share rose by 3.2% to $10.63. The net interest margin was 2.41% for Q4 2024.
Western New England Bancorp reported net income of $1.9 million ($0.09 per diluted share) for Q3 2024, down from $4.5 million ($0.21 per diluted share) in Q3 2023. The Board declared a quarterly cash dividend of $0.07 per share, payable November 21, 2024. Total deposits increased $80.5 million (3.8%) while total loans grew $21.7 million (1.1%) from year-end. The company maintains strong asset quality with nonperforming loans at 0.24% of total loans. During the first nine months of 2024, the company repurchased 714,282 shares at an average price of $7.61 per share.
Western New England Bancorp (WNEB) reported Q2 2024 net income of $3.5 million, or $0.17 per diluted share, an increase from Q2 2023's $2.8 million, or $0.13 per diluted share. Six-month net income was $6.5 million, down from $8.1 million in the same period last year. The company declared a quarterly cash dividend of $0.07 per share, payable August 21, 2024, to shareholders of record on August 7, 2024.
Key metrics: total loans decreased by $1.1 million, while deposits increased by $28.1 million. Nonperforming loans decreased to 0.29% of total loans. The net interest margin fell to 2.42%, from 2.57% in Q1. The company repurchased 470,000 shares at an average price of $7.32 during the six months ended June 30, 2024.
CEO James Hagan emphasized the challenges posed by the inverted yield curve but highlighted strong capital, liquidity, and focus on cost management.
Western New England Bancorp, Inc. (WNEB) announced the completion of its 2022 stock repurchase plan on June 6, 2024, buying back shares at an average price of $7.34. The Board approved a new repurchase plan on May 21, 2024, allowing up to 1 million shares, about 4.6% of the company's outstanding stock, to be repurchased. The new plan permits the repurchase of shares through open market transactions or privately negotiated transactions, depending on several factors like stock price, laws, and market conditions. The repurchase program can be modified or discontinued at any time.
Western New England Bancorp (WNEB) announced a new stock repurchase plan authorized by its Board of Directors on May 21, 2024. The plan allows the company to repurchase up to 1 million shares, representing roughly 4.6% of its outstanding common stock, after completing the 2022 Plan.
Repurchases can occur in open market or privately negotiated transactions. The amount and timing will depend on factors like stock price, securities laws, regulatory restrictions, and market conditions. The plan can be modified, suspended, or discontinued at the company's discretion.
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