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Western New England Bancorp ( (WNEB) ) has shared an announcement.
On January 28, 2025, Western New England Bancorp announced its financial results for the quarter and year ending December 31, 2024, reporting a quarterly net income increase to $3.3 million, partly due to a disciplined approach to managing funding costs. The company declared a quarterly cash dividend and highlighted an increase in deposits and a decrease in the loan-to-deposit ratio. Western New England Bancorp also emphasized its strong asset quality and capital management strategies, having repurchased 934,282 shares of common stock over the past year, reflecting its commitment to shareholder value despite a challenging banking environment.
More about Western New England Bancorp
Western New England Bancorp, Inc. is the holding company for Westfield Bank, which operates in the banking industry. It focuses on providing financial services such as residential and commercial real estate loans, industrial loans, and consumer loans. The company is headquartered in Westfield, Massachusetts, and is listed on NasdaqGS under the ticker WNEB.
YTD Price Performance: -2.62%
Average Trading Volume: 42,000
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $187.5M
See more insights into WNEB stock on TipRanks’ Stock Analysis page.