secwatch.observer — SEC 8-K summary
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Issuer:     Western New England Bancorp, Inc. (WNEB)
CIK:        0001157647
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0001387131-23-008662
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1157647/000138713123008662/0001387131-23-008662-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1157647/000138713123008662/wneb-8k_072523.htm
  HTML page:      https://secwatch.observer/filing/0001387131-23-008662

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