secwatch.observer — SEC 8-K summary
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Issuer:     Western New England Bancorp, Inc. (WNEB)
CIK:        0001157647
Form:       8-K
Filed at:   2023-01-24T23:59:59+00:00
Accession:  0001387131-23-000531
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1157647/000138713123000531/0001387131-23-000531-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1157647/000138713123000531/wneb-8k_012423.htm
  HTML page:      https://secwatch.observer/filing/0001387131-23-000531

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