WNEB Q1 net income $3.0M ($0.14 EPS) down 43% YoY; NIM 2.57%

Western New England Bancorp, Inc.

2024-Q1 EPS reported $0.14

Net income $3.0M ($0.14 diluted EPS) vs $5.3M ($0.24) in Q1 2023.
Net interest margin 2.57% vs 2.64% linked quarter; net interest income fell 5.1% QoQ.
Declared $0.07 per share quarterly dividend payable May 22 to holders of record May 8.
Repurchased 200,000 shares at avg $8.26; book value per share $10.90.
Nonperforming loans 0.29% of total loans; allowance 0.98% of loans.

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 the three months ended March 31, 2024 results: net income net income of $3.0 million, or $0.14 per diluted share, EPS $0.14 per diluted share.

Period: the three months ended March 31, 2024
Net income: net income of $3.0 million, or $0.14 per diluted share
EPS: $0.14 per diluted share
Result: reported results

Exact text from the filing

The Company reported net income of $3.0 million, or $0.14 per diluted share, for the three months ended March 31, 2024, compared to net income of $5.3 million, or $0.24 per diluted share, for the three months ended March 31, 2023.

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Source: SEC EDGAR

accession 0001999371-24-005092

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