Quarterly ResultApr 28, 2026, 04:07 PM
WNEB Q1 Net Income $4.8M, EPS $0.24; Dividend $0.07
AI Summary
Western New England Bancorp, Inc. reported unaudited net income of $4.8 million, or $0.24 per diluted share, for Q1 2026, a significant increase from $2.3 million, or $0.11 per diluted share, in Q1 2025. However, net income decreased slightly from $5.2 million, or $0.26 per diluted share, in the prior linked quarter. The company's Board of Directors also declared a quarterly cash dividend of $0.07 per share. Key highlights include an increase in net interest margin to 2.95%, continued loan and deposit growth, strong asset quality with nonaccrual loans decreasing, and ongoing share repurchases.
Key Highlights
- WNEB Q1 2026 net income was $4.8 million, up from $2.3 million in Q1 2025.
- Diluted EPS for Q1 2026 was $0.24, compared to $0.11 in Q1 2025.
- Board declared a quarterly cash dividend of $0.07 per share, payable May 27, 2026.
- Total loans increased $17.2 million, or 0.8%, to $2.2 billion at March 31, 2026.
- Total deposits increased $20.9 million, or 0.9%, to $2.4 billion at March 31, 2026.
- Net interest margin increased six basis points to 2.95% for Q1 2026.
- Repurchased 186,000 shares of common stock during Q1 2026 at an average price of $13.48.
- Nonaccrual loans totaled $4.7 million, or 0.21% of total loans, down from 0.24% QoQ.