PART I – FINANCIAL INFORMATION This section provides the unaudited consolidated financial statements and management's discussion and analysis for the reporting period [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements, including balance sheets, income statements, cash flows, and detailed notes [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to **$2.71 billion** by June 30, 2025, driven by growth in net loans and cash equivalents Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$2,711,149** | **$2,653,090** | | Total cash and cash equivalents | $93,308 | $66,450 | | Net loans | $2,072,898 | $2,050,660 | | Total investment securities | $376,900 | $366,137 | | **Total Liabilities** | **$2,471,721** | **$2,417,180** | | Total deposits | $2,330,113 | $2,262,647 | | Total borrowings | $121,811 | $123,141 | | **Total Shareholders' Equity** | **$239,428** | **$235,910** | [Consolidated Statements of Net Income](index=7&type=section&id=Consolidated%20Statements%20of%20Net%20Income) Net income for Q2 2025 rose to **$4.6 million**, primarily due to increased net interest income Net Income Performance (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | 6 Months 2025 | 6 Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $17,642 | $14,470 | $33,176 | $29,816 | | Reversal of Credit Losses | $(615) | $(294) | $(473) | $(844) | | Non-interest Income | $3,411 | $3,834 | $6,170 | $6,508 | | Non-interest Expense | $15,656 | $14,314 | $30,840 | $29,096 | | **Net Income** | **$4,590** | **$3,513** | **$6,893** | **$6,474** | | **Diluted EPS** | **$0.23** | **$0.17** | **$0.34** | **$0.31** | [Consolidated Statements of Cash Flows](index=14&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities was **$5.6 million**, with a **$26.9 million** net increase in cash and equivalents Cash Flow Summary - Six Months Ended June 30 (in thousands) | Cash Flow Category | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $5,578 | $3,135 | | Net cash (used in) provided by investing activities | $(37,067) | $1,834 | | Net cash provided by financing activities | $58,347 | $19,649 | | **Net Change in Cash and Cash Equivalents** | **$26,858** | **$24,618** | | Cash and cash equivalents, end of period | $93,308 | $53,458 | [Notes to Consolidated Financial Statements](index=16&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section details accounting policies, earnings per share, investment and loan portfolios, goodwill, and fair value measurements - The company operates as a single reportable segment, providing banking services primarily in western Massachusetts and northern Connecticut[161](index=161&type=chunk) - The Chief Operating Decision Maker (CODM) evaluates performance based on the consolidated results of the company as a whole[161](index=161&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=52&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial condition, operating results, and liquidity, highlighting strategies for lending growth and deposit expansion [Overview and Strategy](index=52&type=section&id=Overview%20and%20Strategy) The company's growth strategy focuses on expanding lending, increasing core deposits, and investing in technology to enhance shareholder value - Key strategic objectives include increasing market share to improve profitability and efficiency[166](index=166&type=chunk) - Growing the commercial loan portfolio and related deposits[166](index=166&type=chunk) - Expanding the retail banking deposit franchise and investing in people, systems, and technology[166](index=166&type=chunk) - Growing revenues and book value per share, paying dividends, and utilizing stock repurchases[166](index=166&type=chunk) [Comparison of Financial Condition (June 30, 2025 vs. Dec 31, 2024)](index=53&type=section&id=Comparison%20of%20Financial%20Condition) Total assets increased by **$58.1 million** to **$2.7 billion**, driven by growth in loans, cash, and investment securities - Total assets increased by **$58.1 million**, or **2.2%**, to **$2.7 billion** from December 31, 2024[171](index=171&type=chunk) - Gross loans increased by **$22.1 million** (**1.1%**), driven by growth in residential real estate (**+3.8%**) and commercial and industrial loans (**+10.8%**), partially offset by a decrease in commercial real estate loans (**-2.7%**)[176](index=176&type=chunk) - Total deposits grew by **$67.5 million** (**3.0%**), with core deposits (all deposits except time deposits) increasing by **$81.4 million** (**5.2%**)[209](index=209&type=chunk) - Shareholders' equity increased by **$3.5 million** to **$239.4 million**, with regulatory capital ratios remaining strong and well-capitalized[215](index=215&type=chunk) [Comparison of Operating Results](index=67&type=section&id=Comparison%20of%20Operating%20Results) Net income for Q2 2025 increased to **$4.6 million**, with net interest margin expanding to **2.80%** due to higher asset yields Quarterly Performance Comparison (Q2 2025 vs Q2 2024) | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Net Income | $4.6M | $3.5M | +31.4% | | Diluted EPS | $0.23 | $0.17 | +35.3% | | Net Interest Income | $17.6M | $14.5M | +21.9% | | Net Interest Margin | 2.80% | 2.42% | +38 bps | Six-Month Performance Comparison (2025 vs 2024) | Metric | 6M 2025 | 6M 2024 | Change | | :--- | :--- | :--- | :--- | | Net Income | $6.9M | $6.5M | +6.2% | | Diluted EPS | $0.34 | $0.31 | +9.7% | | Net Interest Income | $33.2M | $29.8M | +11.3% | | Net Interest Margin | 2.64% | 2.50% | +14 bps | - A reversal of credit losses of **$615,000** was recorded in Q2 2025, largely due to a **$624,000** recovery on a previously charged-off commercial relationship[230](index=230&type=chunk) - Non-interest expense increased **9.4%** for the quarter and **6.0%** for the six-month period, primarily driven by higher salaries and benefits[234](index=234&type=chunk)[254](index=254&type=chunk) [Liquidity and Capital Resources](index=76&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity and capital, with significant borrowing capacity and regulatory ratios exceeding 'well-capitalized' minimums - Primary liquidity sources are deposits, loan and security amortization/prepayments, and operational funds[260](index=260&type=chunk) Available Borrowing Capacity as of June 30, 2025 | Source | Available Capacity | | :--- | :--- | | FHLB | $452.7 million | | FRB Discount Window | $383.8 million | | Correspondent Banks | $25.0 million | Consolidated Capital Ratios as of June 30, 2025 | Ratio | Actual | Minimum for Adequacy | | :--- | :--- | :--- | | Total Capital (to RWA) | 14.42% | 8.00% | | Tier 1 Capital (to RWA) | 12.40% | 6.00% | | Common Equity Tier 1 (to RWA) | 12.40% | 4.50% | | Tier 1 Leverage Ratio | 9.10% | 4.00% | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=79&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes in market risk assessment have occurred since the 2024 Annual Report - There have been no material changes in the company's market risk assessment since the 2024 Annual Report[276](index=276&type=chunk) [Item 4. Controls and Procedures](index=79&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective, with no material changes to internal control over financial reporting - The CEO and CFO concluded that disclosure controls and procedures were effective as of June 30, 2025[277](index=277&type=chunk) - No material changes to internal control over financial reporting were identified during the last fiscal quarter[278](index=278&type=chunk) PART II – OTHER INFORMATION This section provides other information, including legal proceedings, risk factors, equity sales, and exhibits [Item 1. Legal Proceedings](index=80&type=section&id=Item%201.%20Legal%20Proceedings) The company is not involved in any material pending legal proceedings beyond routine business litigation - The company reports no material pending legal proceedings outside of the ordinary course of business[279](index=279&type=chunk) [Item 1A. Risk Factors](index=80&type=section&id=Item%201A.%20Risk%20Factors) No additional material changes in risk factors have been identified since the 2024 fiscal year-end - No material changes to risk factors are reported since the 2024 Annual Report[280](index=280&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=80&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased **290,609 shares** at an average price of **$9.45** and initiated a new 1,000,000 share repurchase plan Share Repurchases - Q2 2025 | Period | Total Shares Purchased | Average Price Paid ($) | | :--- | :--- | :--- | | April 2025 | 43,291 | 9.29 | | May 2025 | 222,318 | 9.49 | | June 2025 | 25,000 | 9.37 | | **Total** | **290,609** | **9.45** | - The Board authorized a new stock repurchase plan (the "2025 Plan") in April 2025 for up to **1,000,000 shares**[287](index=287&type=chunk) [Item 5. Other Information](index=80&type=section&id=Item%205.%20Other%20Information) No Rule 10b5-1 trading arrangements were adopted or terminated by directors or officers during the quarter - No new or terminated Rule 10b5-1 trading plans were reported for directors or officers during the quarter[286](index=286&type=chunk) [Item 6. Exhibits](index=81&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including CEO/CFO certifications and Inline XBRL financial statements

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Core Insights - Western New England Bancorp (WNEB) reported a revenue of $21.05 million for the quarter ended June 2025, reflecting a 15% increase year-over-year [1] - The earnings per share (EPS) for the quarter was $0.23, up from $0.17 in the same quarter last year, indicating a strong performance [1] - The reported revenue exceeded the Zacks Consensus Estimate of $19.06 million by 10.46%, while the EPS surpassed the consensus estimate of $0.14 by 64.29% [1] Financial Performance Metrics - The efficiency ratio for WNEB was reported at 74.4%, better than the average estimate of 78.5% from three analysts [4] - The net interest margin stood at 2.8%, compared to the average estimate of 86.7% based on three analysts [4] - Average interest-earning assets were $2.53 billion, slightly below the average estimate of $2.54 billion from two analysts [4] - Total non-interest income was $3.41 million, exceeding the average estimate of $2.81 million from three analysts [4] - Net interest income reached $17.64 million, surpassing the average estimate of $16.36 million from three analysts [4] Stock Performance - Shares of Western New England Bancorp have returned +14.4% over the past month, outperforming the Zacks S&P 500 composite's +5.9% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Group 1 - Western New England Bancorp (WNEB) reported quarterly earnings of $0.23 per share, exceeding the Zacks Consensus Estimate of $0.14 per share, and up from $0.17 per share a year ago, representing an earnings surprise of +64.29% [1] - The company posted revenues of $21.05 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 10.46%, compared to year-ago revenues of $18.3 million [2] - The stock has gained approximately 9.1% since the beginning of the year, outperforming the S&P 500's gain of 7.2% [3] Group 2 - The current consensus EPS estimate for the upcoming quarter is $0.16 on revenues of $19.72 million, and for the current fiscal year, it is $0.60 on revenues of $77.33 million [7] - The Zacks Industry Rank for Banks - Foreign is currently in the top 6% of over 250 Zacks industries, indicating strong performance potential [8]

[Earnings Release and Highlights](index=1&type=section&id=Earnings%20Release%20and%20Highlights) This section summarizes Western New England Bancorp's Q2 2025 financial results, highlighting key performance metrics and strategic priorities [Second Quarter 2025 Earnings Summary](index=1&type=section&id=Second%20Quarter%202025%20Earnings%20Summary) Western New England Bancorp, Inc. (WNEB) reported a net income of $4.6 million, or $0.23 per diluted share, for the second quarter of 2025, significantly increasing from prior periods Quarterly and Six-Month Earnings Performance | Period | Net Income | Diluted EPS | | :--- | :--- | :--- | | **Q2 2025** | **$4.6 million** | **$0.23** | | Q1 2025 | $2.3 million | $0.11 | | Q2 2024 | $3.5 million | $0.17 | | **H1 2025** | **$6.9 million** | **$0.34** | | H1 2024 | $6.5 million | $0.31 | - The Board of Directors declared a quarterly cash dividend of **$0.07 per share**, payable around August 20, 2025, to shareholders of record on August 6, 2025[2](index=2&type=chunk) [CEO Commentary and Strategic Priorities](index=1&type=section&id=CEO%20Commentary%20and%20Strategic%20Priorities) The CEO expressed satisfaction with solid Q2 2025 earnings, emphasizing strong growth in loans and core deposits, alongside disciplined capital management - Core deposits increased by **$81.4 million (5.2%)** since year-end, expected to lower deposit costs and reduce reliance on time deposits[3](index=3&type=chunk) - Growth in commercial and industrial (C&I) loans is a strategic priority, with the C&I portfolio increasing by **$22.8 million (10.8%)** in the first six months of 2025[3](index=3&type=chunk) - The net interest margin expanded by **31 basis points to 2.80%** from Q1 2025 to Q2 2025, driven by loan growth and disciplined funding cost management[4](index=4&type=chunk) - The company repurchased **497,318 shares** in the first six months of 2025 at an average price of **$9.31**, and announced a new repurchase plan for up to **1.0 million shares** in April 2025[4](index=4&type=chunk) [Key Financial and Operational Highlights](index=2&type=section&id=Key%20Financial%20and%20Operational%20Highlights) The company highlighted key balance sheet movements and performance metrics as of June 30, 2025, including loan and deposit growth, asset quality, and capital management - Total gross loans increased by **$22.1 million (1.1%)** since December 31, 2024, primarily from a **$29.7 million** increase in residential real estate loans and a **$22.8 million** increase in C&I loans[5](index=5&type=chunk) - Core deposits (all deposits except time deposits) grew by **$81.4 million (5.2%)** since year-end, while time deposits decreased by **$13.9 million (2.0%)**[6](index=6&type=chunk) - The allowance for credit losses was stable at **0.94%** of total loans, with nonaccrual loans remaining low at **0.27%** of total loans[7](index=7&type=chunk) - The net interest margin increased by **31 basis points to 2.80%** in Q2 2025 from **2.49%** in Q1 2025[8](index=8&type=chunk) - The company completed its 2024 stock repurchase plan and began a new plan to repurchase up to **1.0 million shares**, repurchasing **290,609 shares** in Q2 2025 at an average price of **$9.45**[9](index=9&type=chunk)[10](index=10&type=chunk) [Financial Performance Analysis](index=3&type=section&id=Financial%20Performance%20Analysis) This section provides a detailed analysis of the company's financial performance, comparing Q2 2025 results against prior quarters and year-over-year periods [Q2 2025 vs. Q1 2025 Performance (Linked Quarter)](index=3&type=section&id=Q2%202025%20vs.%20Q1%202025%20Performance) On a linked-quarter basis, net income nearly doubled, driven by significant expansion in net interest income and a reversal of the provision for credit losses Q2 2025 vs Q1 2025 Key Metrics | Metric | Q2 2025 | Q1 2025 | Change | | :--- | :--- | :--- | :--- | | Net Income | $4.6M | $2.3M | +99.3% | | Diluted EPS | $0.23 | $0.11 | +$0.12 | | Net Interest Income | $17.6M | $15.5M | +13.6% | | Provision for Credit Losses | ($0.6M) | $0.1M | -$0.8M | | Non-Interest Income | $3.4M | $2.8M | +23.6% | | Non-Interest Expense | $15.7M | $15.2M | +3.1% | [Net Interest Income and Margin](index=3&type=section&id=Q2%202025%20vs.%20Q1%202025%20Net%20Interest%20Income) Net interest income increased by $2.1 million (13.6%) sequentially, reaching $17.6 million, with the net interest margin expanding by 31 basis points to 2.80% - The increase in net interest income was due to a **4.1%** rise in interest income and a **7.2%** fall in interest expense[15](index=15&type=chunk) - The average cost of time deposits decreased significantly by **42 basis points**, from **4.11%** in Q1 to **3.69%** in Q2[18](index=18&type=chunk) [(Reversal of) Provision for Credit Losses](index=4&type=section&id=Q2%202025%20vs.%20Q1%202025%20Provision%20for%20Credit%20Losses) The company recorded a $615,000 reversal of credit losses in Q2 2025, primarily due to a significant recovery on a previously charged-off commercial relationship - The reversal of credit losses was driven by a **$624,000** recovery on a previously charged-off commercial loan from the Chicopee Bancorp acquisition[20](index=20&type=chunk) [Non-Interest Income](index=4&type=section&id=Q2%202025%20vs.%20Q1%202025%20Non-Interest%20Income) Non-interest income rose by $652,000 (23.6%) to $3.4 million in Q2, driven by broad-based increases across service charges, equity investment gains, and new swap fees - Key drivers of the increase were higher service charges (**+$244k**), gains on non-marketable equity investments (**+$243k**), and new loan-level swap fee income (**+$95k**)[22](index=22&type=chunk)[23](index=23&type=chunk) [Non-Interest Expense](index=4&type=section&id=Q2%202025%20vs.%20Q1%202025%20Non-Interest%20Expense) Non-interest expense increased by a modest $472,000 (3.1%) to $15.7 million, primarily due to higher salaries and benefits, partially offset by lower occupancy costs - Salaries and benefits increased by **$418,000 (5.0%)**, while occupancy expense decreased by **$147,000 (10.4%)**[24](index=24&type=chunk) - The efficiency ratio improved to **74.4%** from **83.0%** in the prior quarter, driven by higher revenues[25](index=25&type=chunk) [Q2 2025 vs. Q2 2024 Performance (Year-over-Year)](index=5&type=section&id=Q2%202025%20vs.%20Q2%202024%20Performance) Compared to Q2 2024, net income grew by $1.1 million (30.7%) to $4.6 million, fueled by a strong increase in net interest income despite declines in non-interest income and rising expenses Q2 2025 vs Q2 2024 Key Metrics | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Net Income | $4.6M | $3.5M | +30.7% | | Diluted EPS | $0.23 | $0.17 | +$0.06 | | Net Interest Income | $17.6M | $14.5M | +21.9% | | Non-Interest Income | $3.4M | $3.8M | -11.0% | | Non-Interest Expense | $15.7M | $14.3M | +9.4% | [Net Interest Income and Margin](index=5&type=section&id=Q2%202025%20vs.%20Q2%202024%20Net%20Interest%20Income) Net interest income increased by $3.2 million (21.9%) year-over-year, with the net interest margin expanding by 38 basis points to 2.80%, driven by improved asset yields and lower funding costs - The net interest margin increased **38 bps YoY to 2.80%**, primarily due to higher asset yields and lower liability costs[30](index=30&type=chunk) - The average cost of time deposits fell from **4.39%** in Q2 2024 to **3.69%** in Q2 2025[32](index=32&type=chunk) [Non-Interest Income](index=6&type=section&id=Q2%202025%20vs.%20Q2%202024%20Non-Interest%20Income) Non-interest income decreased by $423,000 (11.0%) to $3.4 million, primarily due to a significantly smaller gain on non-marketable equity investments compared to the prior year - The primary reason for the decrease was a lower gain on non-marketable equity investments (**$243k** in Q2'25 vs. **$987k** in Q2'24)[37](index=37&type=chunk) [Non-Interest Expense](index=6&type=section&id=Q2%202025%20vs.%20Q2%202024%20Non-Interest%20Expense) Non-interest expense rose by $1.3 million (9.4%) to $15.7 million year-over-year, mainly driven by increased salaries and benefits, along with higher advertising and data processing costs - The main driver of the expense increase was a **$930,000 (11.8%)** rise in salaries and benefits[38](index=38&type=chunk) [Six Months Ended June 30, 2025 vs. 2024 Performance](index=7&type=section&id=H1%202025%20vs.%20H1%202024%20Performance) For the first six months of 2025, net income increased by 6.5% to $6.9 million, driven by a significant rise in net interest income that offset other expense increases H1 2025 vs H1 2024 Key Metrics | Metric | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Income | $6.9M | $6.5M | +6.5% | | Diluted EPS | $0.34 | $0.31 | +$0.03 | | Net Interest Income | $33.2M | $29.8M | +11.3% | | Non-Interest Income | $6.2M | $6.5M | -5.2% | | Non-Interest Expense | $30.8M | $29.1M | +6.0% | [Net Interest Income and Margin](index=7&type=section&id=H1%202025%20vs.%20H1%202024%20Net%20Interest%20Income) Net interest income for the six-month period grew by $3.4 million (11.3%) to $33.2 million, with the net interest margin expanding by 14 basis points to 2.64% - The net interest margin increased by **14 bps to 2.64%** for the six-month period[43](index=43&type=chunk) - The average cost of time deposits decreased **36 basis points to 3.90%**, while the average cost of core deposits increased **23 basis points to 1.05%**[45](index=45&type=chunk) [Reversal of Credit Losses](index=8&type=section&id=H1%202025%20vs.%20H1%202024%20Provision%20for%20Credit%20Losses) The company recorded a reversal of credit losses of $473,000 for the first six months of 2025, supported by a significant recovery on a previously charged-off commercial loan - Net recoveries totaled **$556,000** for H1 2025, compared to net recoveries of **$57,000** in H1 2024, largely due to a single **$624,000** recovery[47](index=47&type=chunk) [Non-Interest Income](index=8&type=section&id=H1%202025%20vs.%20H1%202024%20Non-Interest%20Income) Non-interest income for the six-month period decreased by $338,000 (5.2%) to $6.2 million, primarily due to a significantly smaller gain on non-marketable equity investments - The decrease was mainly driven by a lower gain on non-marketable equity investments, which fell by **$744,000** year-over-year[48](index=48&type=chunk) [Non-Interest Expense](index=8&type=section&id=H1%202025%20vs.%20H1%202024%20Non-Interest%20Expense) Non-interest expense increased by $1.7 million (6.0%) to $30.8 million for the first half of 2025, primarily driven by a rise in salaries and employee benefits - Salaries and employee benefits rose by **$1.1 million**, accounting for the majority of the total expense increase[49](index=49&type=chunk) - The efficiency ratio improved to **78.4%** from **80.1%** in H1 2024, due to stronger revenue growth relative to expense growth[50](index=50&type=chunk) [Balance Sheet Analysis](index=8&type=section&id=Balance%20Sheet%20Analysis) This section provides an in-depth analysis of the company's balance sheet, detailing asset composition, loan portfolio quality, funding sources, and capital adequacy [Overall Balance Sheet Position](index=8&type=section&id=Overall%20Balance%20Sheet%20Position) As of June 30, 2025, total assets stood at $2.7 billion, marking a $58.1 million (2.2%) increase from December 31, 2024, primarily fueled by growth in loans, cash, and investment securities - Total assets increased by **$58.1 million**, or **2.2%**, to **$2.7 billion** at June 30, 2025, compared to year-end 2024[52](index=52&type=chunk) [Investment Securities](index=9&type=section&id=Investment%20Securities) The investment securities portfolio totaled $376.9 million (13.9% of total assets) at June 30, 2025, with improved unrealized losses attributed to interest rate fluctuations - The available-for-sale portfolio increased by **$18.1 million to $178.8 million**, while the held-to-maturity portfolio decreased by **$7.4 million to $197.7 million** since year-end 2024[53](index=53&type=chunk) - Unrealized losses on the available-for-sale portfolio improved to **$26.6 million** from **$31.2 million** at year-end, attributed to interest rate changes, not credit impairment[54](index=54&type=chunk)[56](index=56&type=chunk) [Loan Portfolio and Credit Quality](index=9&type=section&id=Loan%20Portfolio%20and%20Credit%20Quality) Total gross loans increased by $22.1 million (1.1%) to $2.1 billion since year-end 2024, with robust credit quality reflected in low delinquency and a decrease in criticized loans Loan Portfolio Composition (in thousands) | Loan Type | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Commercial real estate | $1,046,205 | $1,075,732 | | Residential real estate | $805,359 | $775,659 | | Commercial and industrial | $234,505 | $211,656 | | Consumer | $3,512 | $4,391 | | **Total gross loans** | **$2,089,581** | **$2,067,438** | Key Credit Quality Metrics | Metric | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Total Delinquency | 0.18% | 0.24% | | Nonaccrual Loans | 0.27% | 0.26% | | Allowance for Credit Losses | 0.94% | 0.94% | | Criticized Loans | $26.1M | $38.4M | [Deposits and Funding](index=11&type=section&id=Deposits%20and%20Funding) Total deposits increased by $67.5 million (3.0%) to $2.3 billion, driven by strong growth in core deposits, which now represent 70.4% of total deposits Deposit Composition (in thousands) | Deposit Type | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Total Core Deposits | $1,640,432 | $1,559,064 | | Time Deposits | $689,681 | $703,583 | | **Total Deposits** | **$2,330,113** | **$2,262,647** | - Non-interest-bearing deposits grew by **$29.6 million (5.2%)** and represent **25.5%** of total deposits[65](index=65&type=chunk) - The company had no brokered time deposits at June 30, 2025, down from **$1.7 million** at year-end 2024[66](index=66&type=chunk) - The company has significant additional liquidity, with **$452.7 million** in borrowing capacity at the FHLB and **$383.8 million** at the FRB Discount Window[69](index=69&type=chunk) [Capital](index=11&type=section&id=Capital) Shareholders' equity increased to $239.4 million at June 30, 2025, with regulatory capital ratios remaining strong and well in excess of 'well-capitalized' requirements Regulatory Capital Ratios (Company) | Ratio | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Total Capital (to RWA) | 14.42% | 14.38% | | Tier 1 Capital (to RWA) | 12.40% | 12.37% | | CET1 Capital (to RWA) | 12.40% | 12.37% | | Tier 1 Leverage Ratio | 9.10% | 9.14% | - The change in shareholders' equity was primarily driven by net income of **$6.9 million**, offset by share repurchases (**$4.7 million**), dividends (**$2.9 million**), and a positive change in accumulated other comprehensive income (**$3.5 million**)[70](index=70&type=chunk) [Other Information](index=12&type=section&id=Other%20Information) This section provides additional context regarding the company's dividend policy, corporate profile, and a cautionary note on forward-looking statements [Dividends](index=12&type=section&id=Dividends) The company has a history of paying quarterly dividends and intends to continue this practice, though future payments are not guaranteed and depend on various factors - While the company intends to continue paying quarterly dividends, there is no assurance that dividends will be paid in the future[72](index=72&type=chunk) [About Western New England Bancorp, Inc.](index=12&type=section&id=About%20Western%20New%20England%20Bancorp%2C%20Inc.) Western New England Bancorp, Inc. is a Massachusetts-chartered stock holding company and the parent of Westfield Bank, operating 25 banking offices across western Massachusetts and northern Connecticut - The company is the parent of Westfield Bank and operates **25 banking offices** in western Massachusetts and northern Connecticut[73](index=73&type=chunk) [Forward-Looking Statements](index=12&type=section&id=Forward-Looking%20Statements) This press release contains forward-looking statements subject to various risks and uncertainties, including economic conditions, regulatory changes, and competition, which could cause actual results to differ materially - The report includes forward-looking statements that are subject to risks such as changes in economic conditions, interest rates, regulatory policies, and competition[74](index=74&type=chunk)[76](index=76&type=chunk) [Consolidated Financial Statements](index=13&type=section&id=Consolidated%20Financial%20Statements) This section presents the company's detailed consolidated financial statements, including income statements, balance sheets, and supplementary financial data [Consolidated Statements of Net Income and Other Data](index=13&type=section&id=Consolidated%20Statements%20of%20Net%20Income%20and%20Other%20Data) This section provides a detailed breakdown of the company's income statement for the three and six months ended June 30, 2025, with comparative data for prior periods Consolidated Net Income (in thousands) | Line Item | Q2 2025 | Q1 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | :--- | | Net interest income | $17,642 | $15,534 | $14,470 | $33,176 | $29,816 | | (Reversal of) Provision | ($615) | $142 | ($294) | ($473) | ($844) | | Non-interest income | $3,411 | $2,759 | $3,834 | $6,170 | $6,508 | | Non-interest expense | $15,656 | $15,184 | $14,314 | $30,840 | $29,096 | | **Net Income** | **$4,590** | **$2,303** | **$3,513** | **$6,893** | **$6,474** | [Consolidated Balance Sheets](index=14&type=section&id=Consolidated%20Balance%20Sheets) This table presents the company's consolidated balance sheets as of June 30, 2025, with comparative data for the preceding four quarters, detailing assets, liabilities, and shareholders' equity Consolidated Balance Sheet Highlights (in thousands) | Line Item | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$2,711,149** | **$2,653,090** | | Net Loans | $2,072,898 | $2,050,660 | | Total Deposits | $2,330,113 | $2,262,647 | | **Total Liabilities** | **$2,471,721** | **$2,417,180** | | **Total Shareholders' Equity** | **$239,428** | **$235,910** | [Other Data](index=15&type=section&id=Other%20Data) This section provides supplementary data including per-share information, key performance ratios, and detailed asset quality metrics for the last five quarters Per Common Share Data (Q2 2025) | Metric | Value | | :--- | :--- | | Basic EPS | $0.23 | | Diluted EPS | $0.23 | | Cash Dividend Declared | $0.07 | | Book Value per Share | $11.68 | | Tangible Book Value per Share | $11.01 | Asset Quality Ratios (Q2 2025) | Metric | Value | | :--- | :--- | | Delinquent Loans / Total Loans | 0.18% | | Nonaccrual Loans / Total Loans | 0.27% | | Allowance / Total Loans | 0.94% | | Allowance / Nonaccrual Loans | 343.06% | [Average Balances and Net Interest Income Analysis](index=16&type=section&id=Average%20Balances%20and%20Net%20Interest%20Income%20Analysis) These tables provide a detailed analysis of net interest income components for the three and six months ended June 30, 2025 and 2024, breaking down average balances, interest, yields, and costs Net Interest Margin Analysis (Q2 2025 vs Q2 2024) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Avg. Yield on Earning Assets | 4.71% | 4.51% | | Avg. Cost of Bearing Liabilities | 2.59% | 2.83% | | Net Interest Rate Spread | 2.10% | 1.66% | | Net Interest Margin | 2.80% | 2.42% | Net Interest Margin Analysis (H1 2025 vs H1 2024) | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Avg. Yield on Earning Assets | 4.65% | 4.49% | | Avg. Cost of Bearing Liabilities | 2.70% | 2.72% | | Net Interest Rate Spread | 1.92% | 1.75% | | Net Interest Margin | 2.64% | 2.50% | [Reconciliation of Non-GAAP to GAAP Financial Measures](index=18&type=section&id=Reconciliation%20of%20Non-GAAP%20to%20GAAP%20Financial%20Measures) This section provides reconciliations for non-GAAP financial measures, bridging the gap between reported GAAP figures and adjusted non-GAAP metrics by detailing specific adjustments [Non-GAAP Reconciliations](index=18&type=section&id=Non-GAAP%20Reconciliations) This section provides reconciliations for non-GAAP financial measures used in the report, including tangible book value per share, adjusted net interest income, and the adjusted efficiency ratio - Tangible book value per share (a non-GAAP measure) was **$11.01** at June 30, 2025, calculated by subtracting goodwill and core deposit intangibles from the GAAP book value per share of **$11.68**[99](index=99&type=chunk) - The adjusted efficiency ratio for Q2 2025 was **75.32%**, calculated by dividing non-interest expense by total revenue, after excluding certain items from non-interest income[100](index=100&type=chunk) - The net interest margin for Q2 2025, excluding **$425,000** in prepayment penalties, was **2.73%**, compared to the GAAP net interest margin of **2.80%**[99](index=99&type=chunk)

Core Points - The company reported a net income of $4.6 million, or $0.23 per diluted share, for the three months ended June 30, 2025, representing a 30.7% increase from $3.5 million, or $0.17 per diluted share, for the same period in 2024 [1][28] - For the six months ended June 30, 2025, net income was $6.9 million, or $0.34 per diluted share, compared to $6.5 million, or $0.31 per diluted share, for the same period in 2024 [1][42] Loans and Deposits - Total gross loans increased by $22.1 million, or 1.1%, to $2.1 billion as of June 30, 2025, driven by a $29.7 million increase in residential real estate loans and a $22.8 million increase in commercial and industrial loans [5][6] - Total deposits increased by $67.5 million, or 3.0%, to $2.3 billion as of June 30, 2025, with core deposits rising by $81.4 million, or 5.2% [6] Net Interest Income and Margin - Net interest income increased by $2.1 million, or 13.6%, to $17.6 million for the three months ended June 30, 2025, compared to the previous quarter [4][15] - The net interest margin rose by 31 basis points from 2.49% to 2.80% during the same period [9][16] Credit Quality - The allowance for credit losses was $19.7 million, or 0.94% of total loans, as of June 30, 2025, remaining stable compared to the previous period [7][8] - Nonaccrual loans totaled $5.8 million, or 0.27% of total loans, with total delinquent loans decreasing to $3.9 million, or 0.18% of total loans [8] Non-Interest Income and Expense - Non-interest income increased by $652,000, or 23.6%, to $3.4 million for the three months ended June 30, 2025, driven by higher service charges and fees [22][36] - Non-interest expense rose by $472,000, or 3.1%, to $15.7 million during the same period, primarily due to increased salaries and related benefits [24][38] Efficiency Ratio - The efficiency ratio improved to 74.4% for the three months ended June 30, 2025, compared to 83.0% for the previous quarter, reflecting higher revenues [26][39] Capital Management - The company repurchased 497,318 shares of common stock at an average price of $9.31 during the six months ended June 30, 2025, as part of its capital management strategy [4][10]

Core Viewpoint - Western New England Bancorp, Inc. has successfully completed its 2024 stock repurchase plan, demonstrating a commitment to capital management and shareholder returns through share buybacks and dividends [1][3]. Group 1: Stock Repurchase Plans - The 2024 Repurchase Plan allowed the company to repurchase 1.0 million shares, approximately 4.6% of its outstanding shares, at an average price of $8.79 per share [1]. - A new stock repurchase plan was authorized on April 22, 2025, permitting the repurchase of an additional 1.0 million shares, or about 4.8% of the company's outstanding shares, following the completion of the 2024 plan [2]. Group 2: Management Commentary - The President and CEO expressed satisfaction with the completion of the repurchase plan, indicating that share repurchases are a prudent use of capital and enhance total shareholder returns [3]. Group 3: Company Overview - Western New England Bancorp, Inc. is a Massachusetts-chartered stock holding company and the parent of Westfield Bank, operating 25 banking offices in western Massachusetts and northern Connecticut [4].

[Forward-Looking Statements](index=4&type=section&id=FORWARD-LOOKING%20STATEMENTS) [Forward-Looking Statements](index=4&type=section&id=FORWARD-LOOKING%20STATEMENTS) This section outlines potential risks and uncertainties that could cause actual results to differ materially from forward-looking statements, cautioning investors not to place undue reliance - The Company identifies forward-looking statements by words such as **"believe," "expect," "anticipate," and "planned."**[8](index=8&type=chunk) - **Key risk factors** mentioned include unpredictable economic or political conditions, inflation, interest rate changes, governmental legislation, operational risks like cybersecurity, and changes in key management personnel[11](index=11&type=chunk) - The Company does not undertake any obligation to republish revised forward-looking statements, except as required by law[10](index=10&type=chunk) [PART I – FINANCIAL INFORMATION](index=5&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20of%20Western%20New%20England%20Bancorp%2C%20Inc.%20and%20Subsidiaries%28Unaudited%29) This section presents the unaudited consolidated financial statements for Western New England Bancorp, Inc., including detailed explanatory notes [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets%20%E2%80%93%20March%2031%2C%202025%20and%20December%2031%2C%202024) Total assets increased to $2.71 billion at March 31, 2025, from $2.65 billion at December 31, 2024, driven by increases in cash and cash equivalents and total loans Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$2,709,284** | **$2,653,090** | | Total Loans | $2,079,561 | $2,070,189 | | Total Deposits | $2,328,593 | $2,262,647 | | **Total Liabilities** | **$2,471,608** | **$2,417,180** | | **Total Shareholders' Equity** | **$237,676** | **$235,910** | [Consolidated Statements of Net Income](index=7&type=section&id=Consolidated%20Statements%20of%20Net%20Income%20%E2%80%93%20Three%20Months%20Ended%20March%2031%2C%202025%20and%202024) Net income for the first quarter of 2025 was $2.3 million, a decrease from $3.0 million in the first quarter of 2024, primarily due to a provision for credit losses and higher non-interest expenses Q1 Income Statement Highlights (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Interest and Dividend Income | $15,534 | $15,346 | | Provision for (Reversal of) Credit Losses | $142 | $(550) | | **Net Income** | **$2,303** | **$2,961** | | **Diluted Earnings Per Share** | **$0.11** | **$0.14** | [Consolidated Statements of Comprehensive Income (Loss)](index=9&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20%28Loss%29%20%E2%80%93%20Three%20Months%20Ended%20March%2031%2C%202025%20and%202024) Comprehensive income was $4.9 million for Q1 2025, a significant increase from $1.1 million in Q1 2024, driven by net income and an unrealized holding gain on available-for-sale securities Q1 Comprehensive Income (in thousands) | Component | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Income | $2,303 | $2,961 | | Other Comprehensive Income (Loss) | $2,585 | $(1,893) | | **Comprehensive Income** | **$4,888** | **$1,068** | [Consolidated Statements of Changes in Shareholders' Equity](index=10&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders%27%20Equity%20%E2%80%93%20Three%20Months%20Ended%20March%2031%2C%202025%20and%202024) Shareholders' equity increased from $235.9 million at year-end 2024 to $237.7 million at March 31, 2025, driven by net income and comprehensive income, partially offset by dividends and repurchases - Key activities impacting shareholders' equity in Q1 2025 included net income of **$2.3 million**, comprehensive income of **$2.6 million**, common stock repurchases of **$2.0 million**, and cash dividends of **$1.4 million**[23](index=23&type=chunk) [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows%20%E2%80%93%20Three%20Months%20Ended%20March%2031%2C%202025%20and%202024) For Q1 2025, cash and cash equivalents increased by $44.1 million, primarily due to net cash provided by financing activities, partially offset by operating and investing outflows Q1 Cash Flow Summary (in thousands) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Cash (Used in) Provided by Operating Activities | $(1,241) | $1,172 | | Net Cash (Used in) Provided by Investing Activities | $(16,161) | $566 | | Net Cash Provided by (Used in) Financing Activities | $61,531 | $(7,965) | | **Net Change in Cash and Cash Equivalents** | **$44,129** | **$(6,227)** | [Notes to Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes provide detailed explanations of the accounting policies and financial data presented in the statements, covering operations, portfolio details, and financial instruments - The Bank operates **25 banking offices** in western Massachusetts and northern Connecticut, with primary revenue from interest on loans and investment securities[29](index=29&type=chunk) - The allowance for credit losses is a significant estimate susceptible to change[32](index=32&type=chunk) [Management's Discussion and Analysis (MD&A)](index=48&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition and results of operations, highlighting strategic focus, financial performance, and key balance sheet items - The company's strategy focuses on increasing market share, growing commercial and residential loan portfolios, expanding the deposit franchise, and investing in technology[154](index=154&type=chunk)[156](index=156&type=chunk) - Net income for Q1 2025 was **$2.3 million**, down from **$3.0 million** in Q1 2024, mainly due to a **$142,000** provision for credit losses in 2025 versus a **$550,000** reversal in 2024[156](index=156&type=chunk) - Net interest income increased by **1.2%** to **$15.5 million** in Q1 2025, as a **6.9%** increase in interest income was partially offset by a **14.6%** rise in interest expense[157](index=157&type=chunk) [Comparison of Financial Condition (Mar 31, 2025 vs. Dec 31, 2024)](index=49&type=section&id=Comparison%20of%20Financial%20Condition) Total assets grew by $56.2 million to $2.7 billion, driven by increases in cash and loans, while deposits and shareholders' equity also increased, and credit quality remained stable - Total assets increased by **2.1%** to **$2.7 billion**, primarily due to a **$44.1 million** increase in cash and a **$9.3 million** increase in gross loans[161](index=161&type=chunk) - Total deposits increased by **2.9%** to **$2.3 billion**, with core deposits (all deposits except time deposits) increasing by **4.5%**[193](index=193&type=chunk) - The allowance for credit losses was **$19.7 million**, or **0.95%** of total loans, compared to **$19.5 million**, or **0.94%** of total loans, at year-end 2024[168](index=168&type=chunk) [Commercial Real Estate (CRE) Concentrations](index=50&type=section&id=Commercial%20Real%20Estate%20%28CRE%29%20Concentrations) The company holds a significant concentration in CRE loans, with non-owner occupied CRE loans exceeding regulatory guidance, managed through robust underwriting and risk management practices - Total CRE loans were **$1.07 billion**, representing **396.6%** of total bank risk-based capital as of March 31, 2025[176](index=176&type=chunk) - Non-owner occupied CRE loans, the focus of regulatory guidance, stood at **$881.1 million**, representing **325.8%** of total bank risk-based capital[177](index=177&type=chunk) - The office-related CRE portfolio totaled **$198.0 million**, or **73.2%** of total bank risk-based capital, with **95.5%** of these loans rated as 'Pass'[186](index=186&type=chunk)[191](index=191&type=chunk) [Comparison of Operating Results (Q1 2025 vs. Q1 2024)](index=59&type=section&id=Comparison%20of%20Operating%20Results) Net income decreased to $2.3 million in Q1 2025 from $3.0 million in Q1 2024, primarily due to a provision for credit losses and higher non-interest expenses, despite a rise in net interest income Q1 Operating Results Comparison | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Income | $2.3M | $3.0M | | Diluted EPS | $0.11 | $0.14 | | Net Interest Income | $15.5M | $15.3M | | Net Interest Margin | 2.49% | 2.57% | | Provision for (Reversal of) Credit Losses | $142k | $(550k) | - The increase in provision for credit losses was primarily due to changes in the macroeconomic forecast[209](index=209&type=chunk) - Non-interest expense increased by **$402,000** (**2.7%**), driven by higher salaries, advertising, and occupancy costs[212](index=212&type=chunk) [Liquidity and Capital Resources](index=64&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity and capital position, with significant available borrowing capacity and all regulatory capital ratios exceeding 'well-capitalized' thresholds - Primary liquidity sources are deposits, loan/security amortization, and FHLB borrowings[217](index=217&type=chunk) - As of March 31, 2025, the company had available borrowing capacity of **$447.5 million** from the FHLB and **$378.5 million** from the FRB Discount Window[219](index=219&type=chunk)[220](index=220&type=chunk) Bank Capital Ratios as of March 31, 2025 | Ratio | Actual | Minimum to be Well-Capitalized | | :--- | :--- | :--- | | Total Capital (to Risk Weighted Assets) | 13.56% | 10.00% | | Tier 1 Capital (to Risk Weighted Assets) | 12.55% | 8.00% | | Common Equity Tier 1 Capital | 12.55% | 6.50% | | Tier 1 Leverage Ratio | 9.26% | 5.00% | [Quantitative and Qualitative Disclosures About Market Risk](index=66&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes in its assessment of sensitivity to market risk since the disclosures made in its 2024 Annual Report on Form 10-K - There have been no material changes in the Company's market risk sensitivity since the 2024 Annual Report[234](index=234&type=chunk) [Controls and Procedures](index=67&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of March 31, 2025, with no material changes in internal control over financial reporting during the quarter - The CEO and CFO concluded that disclosure controls and procedures were effective as of the end of the period covered by the report[236](index=236&type=chunk) - No changes in internal control over financial reporting occurred during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, internal controls[237](index=237&type=chunk) [PART II – OTHER INFORMATION](index=68&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) [Legal Proceedings](index=68&type=section&id=Item%201.%20Legal%20Proceedings) The company was not involved in any material pending legal proceedings, other than routine legal matters occurring in the ordinary course of business - The Company is not involved in any material pending legal proceedings outside of the ordinary course of business[238](index=238&type=chunk) [Risk Factors](index=68&type=section&id=Item%201A.%20Risk%20Factors) There have been no additional material changes in the risk factors relevant to the company's operations since December 31, 2024, as detailed in the 2024 Annual Report - There are no additional material changes in risk factors since the 2024 Annual Report[239](index=239&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=68&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the first quarter of 2025, the company repurchased a total of 217,218 shares of its common stock at an average price of $9.13 per share, leaving 265,609 shares available for repurchase Q1 2025 Share Repurchases | Period | Total Shares Purchased | Average Price Paid ($) | | :--- | :--- | :--- | | January 2025 | 100,000 | 8.85 | | February 2025 | 27,215 | 9.51 | | March 2025 | 90,003 | 9.32 | | **Total** | **217,218** | **9.13** | - As of March 31, 2025, **265,609 shares** remained available for repurchase under the 2024 stock repurchase plan[241](index=241&type=chunk) [Defaults Upon Senior Securities](index=69&type=section&id=Item%203.%20Defaults%20upon%20Senior%20Securities) None reported - None[243](index=243&type=chunk) [Mine Safety Disclosures](index=69&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) Not applicable - Not applicable[244](index=244&type=chunk) [Other Information](index=69&type=section&id=Item%205.%20Other%20Information) No director or officer of the company adopted or terminated any Rule 10b5-1 trading arrangements or non-Rule 10b5-1 trading arrangements during the quarter ended March 31, 2025 - No director or officer adopted or terminated Rule 10b5-1 trading arrangements during the quarter[245](index=245&type=chunk) [Exhibits](index=69&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications by the CEO and CFO pursuant to the Sarbanes-Oxley Act of 2002 and the financial statements formatted in Inline XBRL - Exhibits filed include CEO and CFO certifications (**31.1, 31.2, 32.1, 32.2**) and Inline XBRL financial data (**101, 104**)[246](index=246&type=chunk)

Core Viewpoint - Western New England Bancorp (WNEB) reported a slight increase in revenue but a decrease in earnings per share (EPS) compared to the previous year, indicating mixed financial performance for the quarter ended March 2025 [1]. Financial Performance Summary - Revenue for the quarter was $18.29 million, reflecting a 1.5% increase year-over-year [1]. - EPS was reported at $0.11, down from $0.14 in the same quarter last year [1]. - The revenue fell short of the Zacks Consensus Estimate of $18.53 million, resulting in a surprise of -1.25% [1]. - The EPS also missed the consensus estimate of $0.12, leading to an EPS surprise of -8.33% [1]. Key Metrics Overview - Efficiency ratio was reported at 83%, slightly higher than the estimated 82.2% [4]. - Net Interest Margin stood at 2.5%, matching the average estimate [4]. - Average Interest-Earning Assets were $2.53 billion, exceeding the two-analyst average estimate of $2.51 billion [4]. - Total Non-Interest Income was $2.76 million, below the three-analyst average estimate of $2.93 million [4]. - Net Interest Income was reported at $15.53 million, slightly lower than the average estimate of $15.59 million [4]. Stock Performance - Shares of Western New England Bancorp have returned -8.5% over the past month, compared to a -8.9% change in the Zacks S&P 500 composite [3]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3].