WNEB reports Q1 2022 EPS $0.24, FY2021 net income $23.7M; core deposits up 27.7%

Western New England Bancorp, Inc.

2022-Q1 EPS reported $0.24

Q1 2022 EPS $0.24; ROAA 0.85%; ROAE 9.65%; NIM tax-equivalent 3.20%.
FY2021 net income of $23.7M ($1.03 diluted EPS); record profitability.
Core deposits increased $402M (27.7%) in 2021; low-cost deposit base.
Commercial real estate loans grew $59.5M (6.1%) in Q1 2022.
Nonperforming loans/total loans at historical low of 0.21%; allowance coverage 398.6%.

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