WNEB Q4 net income $9.0M ($0.42 EPS); raises dividend 17% to $0.07/share

Western New England Bancorp, Inc.

2022-FY EPS reported $1.18

Q4 net income $9.0M ($0.42 diluted EPS) vs $6.2M ($0.28) in Q4 2021; FY2022 net income $25.9M ($1.18) vs $23.7M ($1.02).
Quarterly dividend raised 17% to $0.07/share, payable Feb 22, 2023 to holders of record Feb 8, 2023.
Net interest margin expanded to 3.44% in Q4 from 3.08% a year ago; loans grew 6.8% to $2.0B.
Efficiency ratio improved to 52.8% in Q4 from 62.7% in Q3; nonperforming loans remain low at 0.29% of total loans.
Pension plan termination (effective Oct 2022) contributed $2.8M curtailment gain to Q4 non-interest income.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Western New England Bancorp, Inc. reported twelve months ended December 31, 2022 results: net income $25.9 million, EPS $1.18 per diluted share.

Period: twelve months ended December 31, 2022
Net income: $25.9 million
EPS: $1.18 per diluted share
Result: reported results

Exact text from the filing

For the twelve months ended December 31, 2022, net income was $25.9 million, or $1.18 per diluted share, compared to net income of $23.7 million, or $1.02 per diluted share, for the twelve months ended December 31, 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Western New England Bancorp, Inc. reported three months ended December 31, 2022 results: net income $9.0 million, EPS $0.42 per diluted share.

Period: three months ended December 31, 2022
Net income: $9.0 million
EPS: $0.42 per diluted share
Result: reported results

Exact text from the filing

For the three months ended December 31, 2022, the Company reported net income of $9.0 million, or $0.42 per diluted share, compared to net income of $6.2 million, or $0.28 per diluted share, for the three months ended December 31, 2021.

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Western New England Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001387131-23-000531

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