WNEB Q3 net income $6.0M ($0.27 EPS), up 187% YoY; declares $0.05 dividend

Western New England Bancorp, Inc.

2021-Q3 EPS reported $0.74

Net income $6.0M ($0.27 diluted EPS) vs $2.1M ($0.08) in Q3 2020, up 187% YoY; linked $5.7M ($0.24) in Q2 2021.
Net interest margin expanded to 3.18% from 2.81% YoY; net interest income $18.8M, +17.4% YoY.
Declared quarterly cash dividend $0.05 per share, payable Nov 24, 2021 to record Nov 10, 2021.
Credit quality improved: nonperforming loans $5.6M (0.32% ex-PPP) vs $9.2M a year ago; $100k credit provision.
Repurchased 1.22M shares in Q3; 2.6M shares at avg $8.29 in nine months; 869k shares remain under 2021 Plan.

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