Western New England Bancorp reports Q1 EPS 11c, consensus 12c

Reports Q1 revenue $18.3M, consensus $15.58M. Reports Q1 tangible book value per share $10.78. Reports Q1 CET1 capital ratio 12.27%. James Hagan, president and CEO, commented, “I am pleased to report the results for the first quarter of 2025. Our strong, diversified core deposit base and our disciplined approach to managing our funding costs have resulted in an increase in net interest income for the third consecutive quarter. The net interest margin increased eight basis points to 2.49% compared to the preceding quarter. We will continue to proactively manage our funding costs and benefit from our liability sensitive balance sheet to support net interest margin growth. In the first quarter, core deposits increased $70.2 million, or 4.5%, and represented 70.0% of total deposits while the loan-to-deposit ratio decreased to 89.3%. During the same period, average funding costs decreased four basis points.”