WNEB Q2 net income $5.5M ($0.25 EPS), expands NIM to 3.24%, declares $0.06 dividend and new 5% buyback plan

Western New England Bancorp, Inc.

2022-Q2 EPS reported $0.49

Q2 net income $5.5M vs $5.7M a year ago; diluted EPS $0.25 ($0.24 in Q2 2021).
Net interest margin rose to 3.24% from 3.06% a year ago; tax-equivalent NIM 3.26%.
Board declared $0.06 quarterly dividend, payable Aug 24 to holders of record Aug 10.
Authorized new repurchase plan for up to 1.1M shares (~5% of outstanding), starts after completion of 2021 plan.
Total loans ex-PPP up $133.7M (7.3%) from year-end; commercial real estate loans up 9.7%.

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