Western New England Bancorp, Inc. Reports Results for Three and Nine Months Ended September 30, 2025 and Declares Quarterly Cash Dividend

Core Insights - The company reported a net income of $3.2 million, or $0.16 per diluted share, for the three months ended September 30, 2025, representing a 66.3% increase from $1.9 million, or $0.09 per diluted share, for the same period in 2024 [1][24] - For the nine months ended September 30, 2025, net income was $10.1 million, or $0.50 per diluted share, compared to $8.4 million, or $0.40 per diluted share, for the same period in 2024 [36] Financial Performance - The company declared a quarterly cash dividend of $0.07 per share, payable on or about November 26, 2025 [2] - Core deposits increased by $97.4 million, or 6.3%, from year-end, while total loans increased by $60.8 million, or 2.9% [3] - The net interest margin expanded to 2.81% for the three months ended September 30, 2025, up from 2.80% for the previous quarter [7][14] Loans and Deposits - Total loans at September 30, 2025, were $2.1 billion, with a 2.9% increase from December 31, 2024, primarily driven by a $52.3 million increase in residential real estate loans [4][54] - Total deposits increased by $87.2 million, or 3.9%, to $2.3 billion from December 31, 2024 [5] Credit Quality - The allowance for credit losses was $20.5 million, or 0.96% of total loans, at September 30, 2025, compared to $19.5 million, or 0.94% of total loans, at December 31, 2024 [6] - Nonaccrual loans totaled $5.6 million, or 0.27% of total loans, at September 30, 2025, showing a slight increase from $5.4 million, or 0.26% of total loans, at December 31, 2024 [6] Non-Interest Income and Expenses - Non-interest income decreased by $238,000, or 7.0%, to $3.2 million for the three months ended September 30, 2025 [20] - Non-interest expense increased by $122,000, or 0.8%, to $15.8 million for the three months ended September 30, 2025 [22] Share Repurchase Program - The company repurchased 499,853 shares of common stock at an average price of $9.31 during the nine months ended September 30, 2025 [3][9] - As of September 30, 2025, there were 972,465 shares available for repurchase under the 2025 Plan [9] Balance Sheet - Total assets increased by $82.4 million, or 3.1%, to $2.7 billion at September 30, 2025, primarily due to an increase in total loans and cash equivalents [48] - The investment securities portfolio totaled $373.2 million, or 13.6% of total assets, at September 30, 2025 [49]