secwatch.observer — SEC 8-K summary
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Issuer:     Western New England Bancorp, Inc. (WNEB)
CIK:        0001157647
Form:       8-K
Filed at:   2024-10-23T23:59:59+00:00
Accession:  0001999371-24-013776
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WNEB Q3 net income drops 58% YoY to $1.9M; EPS $0.09 vs $0.21
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- Net income of $1.9M ($0.09 diluted EPS) vs $4.5M ($0.21) in Q3 2023, down 58%.
- Net interest margin shrank to 2.40% from 2.70% a year ago; deposit cost rose to 2.04%.
- Total loans increased $21.7M YTD to $2.0B; residential real estate grew $26.4M.
- Non-interest income fell to $3.1M from $3.6M YoY; gain on equity investments lower.
- BTFP fully repaid; liquidity at $1.1B instantly available, covering 183% of uninsured deposits.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1157647/000199937124013776/0001999371-24-013776-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1157647/000199937124013776/wneb-8k_102324.htm
  HTML page:      https://secwatch.observer/filing/0001999371-24-013776

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer