WNEB Q2 net income $5.7M ($0.24 EPS) vs $2.0M a year ago; declares $0.05 dividend

Western New England Bancorp, Inc.

2021-Q2 EPS reported $0.47 revenue$19,000

Net income $5.7M ($0.24 diluted EPS) vs $2.0M ($0.08) in Q2 2020; six-month net income $11.4M ($0.47).
Net interest margin 3.06% (ex-PPP 2.98%) vs 3.24% prior quarter due to excess cash and PPP forgiveness.
Declares $0.05 per share quarterly cash dividend, payable Aug 25, 2021 to holders of record Aug 11.
Repurchased 1.3M shares at avg $8.22 in H1 2021; new 2.4M share buyback plan authorized.
Provision for loan losses reversed to $1.2M credit from $75K provision in Q1; NPLs fell to $6.0M.

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