---
schema_version: "secwatch.filing_event.v1"
accession: "0001387131-23-008662"
form_type: "8-K"
ticker: "WNEB"
cik: "0001157647"
company_name: "Western New England Bancorp, Inc."
filed_at: "2023-07-25T23:59:59+00:00"
generated_at: "2026-06-13T02:50:13.300473+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# WNEB Q2 net income plunges to $2.8M ($0.13 EPS) from $5.5M ($0.25) YoY

## Summary
- Net income of $2.8M ($0.13 diluted EPS) in Q2 2023, down 49% from $5.5M ($0.25) in Q2 2022.
- Net interest margin narrowed to 2.81% from 3.14% linked quarter; net interest income fell 9% to $16.8M.
- Total deposits decreased 3.2% to $2.2B; core deposits down 10.7%, time deposits up 29.9%.
- Board declared $0.07 quarterly dividend, payable Aug 23, record Aug 9.
- Repurchased 249,744 shares in H1 2023 at avg $7.74; 806,600 shares remain under the plan.

## SEC filing metadata
- accession: 0001387131-23-008662
- form_type: 8-K
- ticker: WNEB
- cik: 0001157647
- company_name: Western New England Bancorp, Inc.
- filed_at: 2023-07-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1157647/000138713123008662/0001387131-23-008662-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1157647/000138713123008662/wneb-8k_072523.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001387131-23-008662
- JSON: https://secwatch.observer/filing/0001387131-23-008662.json
- Plain text: https://secwatch.observer/filing/0001387131-23-008662.txt

## Key facts
- Earnings Releases
  Western New England Bancorp, Inc. reported for the six months ended June 30, 2023 results: net income net income was $8.1 million, or $0.37 per diluted share, EPS $0.37 per diluted share.
  - Period: for the six months ended June 30, 2023
  - Net income: net income was $8.1 million, or $0.37 per diluted share
  - EPS: $0.37 per diluted share
  - Result: reported results
  source text: For the six months ended June 30, 2023, net income was $8.1 million, or $0.37 per diluted share, compared to net income of $10.9 million, or $0.49 per diluted share, for the six months ended June 30, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1157647/000138713123008662/0001387131-23-008662-index.htm
- Earnings Releases
  Western New England Bancorp, Inc. reported for the three and six months ended June 30, 2023 results: net income net income of $2.8 million, or $0.13 per diluted share, EPS $0.13 per diluted share.
  - Period: for the three and six months ended June 30, 2023
  - Net income: net income of $2.8 million, or $0.13 per diluted share
  - EPS: $0.13 per diluted share
  - Result: reported results
  source text: Western New England Bancorp, Inc. (the "Company" or "WNEB") (NasdaqGS: WNEB), the holding company for Westfield Bank (the "Bank"), announced today the unaudited results of operations for the three and six months ended June 30, 2023. For the three months ended June 30, 2023, the Company reported net income of $2.8 million, or $0.13 per diluted share, compared to net income of $5.5 million, or $0.25 per diluted share, for the three months ended June 30, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1157647/000138713123008662/0001387131-23-008662-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.