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Western New England Bancorp, Inc. operates as the holding company for Westfield Bank that provides various commercial and retail banking products and services to individuals and companies. It offers various deposit products, including commercial, small business, nonprofit and municipal checking, money market, sweep accounts, time deposits, interest-bearing and noninterest-bearing checking, and individual retirement accounts, as well as certificates of deposit. The company also originates and funds commercial and residential real estate loans, including first mortgages, home equity loans, and home equity lines, and secured by one-to-four family residential properties; home equity revolving loans and lines of credit; consumer loans, including automobile, spa and pool, collateral, and personal lines of credit; commercial and industrial loans, such as letters of credit, revolving lines of credit, working capital, equipment financing, and term loans; and construction and land development loans. In addition, it provides automated teller machine (ATM), telephone and online banking, remote deposit capture, cash management, overdraft and safe deposit facility, and night deposit services. The company was formerly known as Westfield Financial, Inc. and changed its name to Western New England Bancorp, Inc. in October 2016. The company was founded in 1853 and is headquartered in Westfield, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $83M | - | $15M | $17M | 6.2% | 13.6% | 30.9% |
| 2024 | $73M | - | $12M | $11M | 4.9% | -9.0% | -22.6% |
| 2023 | $80M | - | $15M | $12M | 6.3% | -10.9% | -41.8% |
| 2022 | $90M | - | $26M | $36M | 11.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 89.76 | 79.95 | 72.73 | 82.61 |
| Pretax Income | 34.63 | 19.58 | 14.96 | 19.79 |
| Tax Provision | 8.74 | 4.52 | 3.29 | 4.52 |
| Net Income | 25.89 | 15.07 | 11.67 | 15.27 |
| Net Income Common Stockholders | 25.89 | 15.07 | 11.67 | 15.27 |
| Interest Expense | 6.70 | 33.21 | 50.02 | 48.52 |
| Interest Income | 85.93 | 101.12 | 109.83 | 118.62 |
| Selling General And Administration | 35.15 | 35.20 | 35.52 | 39.08 |
| Normalized Income | 23.79 | 15.95 | 11.67 | 15.27 |
| Basic EPS | 1.18 | 0.70 | 0.56 | 0.76 |
| Diluted EPS | 1.18 | 0.70 | 0.56 | 0.75 |
| Tax Effect Of Unusual Items | 0.71 | -0.26 | 0 | 0 |
| Tax Rate For Calcs | 0.25 | 0.23 | 0.22 | 0.23 |
| Total Unusual Items | 2.81 | -1.15 | -0.01 | 0 |
| Total Unusual Items Excluding Goodwill | 2.81 | -1.15 | -0.01 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 25.89 | 15.07 | 11.67 | 15.27 |
| Reconciled Depreciation | 2.69 | 2.59 | 2.60 | 2.48 |
| Net Interest Income | 79.23 | 67.91 | 59.82 | 70.10 |
| Net Income From Continuing And Discontinued Operation | 25.89 | 15.07 | 11.67 | 15.27 |
| Diluted Average Shares | 21.94 | 21.61 | 21.02 | 20.32 |
| Basic Average Shares | 21.88 | 21.54 | 20.90 | 20.19 |
| Diluted NI Availto Com Stockholders | 25.89 | 15.07 | 11.67 | 15.27 |
| Net Income Including Noncontrolling Interests | 25.89 | 15.07 | 11.67 | 15.27 |
| Net Income Continuous Operations | 25.89 | 15.07 | 11.67 | 15.27 |
| Special Income Charges | 2.81 | -1.15 | -0.01 | 0 |
| Other Special Charges | -2.81 | 1.15 | 0.01 | 0 |
| Gain On Sale Of Security | -0.30 | 0.59 | 1.30 | 0.28 |
| Selling And Marketing Expense | 1.41 | 1.50 | 1.27 | 1.65 |
| General And Administrative Expense | 33.74 | 33.70 | 34.25 | 37.43 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 1.05 | 1.32 | 1.46 | 1.60 |
| Salaries And Wages | 32.70 | 32.38 | 32.79 | 35.83 |
| Operating Revenue | 89.76 | 79.95 | 72.73 | 82.61 |
| Occupancy And Equipment | 7.01 | 7 | 7.19 | 7.09 |
| Professional Expense And Contract Services Expense | 2.60 | 2.73 | 2.16 | 2.02 |
| Other Non Interest Expense | 12.47 | 13.42 | 13.56 | 14.29 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Western New England Bancorp, Inc.this co. | WNEB | $283M | 15.90↑ premium | 1.14 | 6.2% | - |
| John Marshall Bancorp, Inc. | JMSB | $297M | 14.01 | 1.11 | 8.0% | - |
| James River Group Holdings, Inc. | JRVR | $286M | 7.49 | 0.53 | 7.1% | 6.65 |
| FVCBankcorp, Inc. | FVCB | $280M | 12.16 | 1.10 | 8.7% | - |
| Oak Valley Bancorp | OVLY |
| $279M |
| 11.51 |
| 1.32 |
| 11.5% |
| - |
| First Community Corporation | FCCO | $278M | 11.62 | 1.36 | 11.5% | - |
| Citizens, Inc. | CIA | $278M | 19.75 | 1.18 | 6.2% | 14.50 |
| First Western Financial, Inc. | MYFW | $270M | 18.01 | 0.99 | 5.0% | - |
| NI Holdings, Inc. | NODK | $267M | - | 1.11 | -4.3% | -18.82 |
| Peer Median | - | 12.16 | 1.11 | 7.5% | 6.65 | |