Western New England Bancorp, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 29, 2019 at 09:16 pm
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Western New England Bancorp, Inc. announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced net interest income was USD 14.820 million compared to USD 15.352 million a year ago. Net income was USD 3.842 million compared to net loss of USD 353,000 a year ago. Basic earnings per share was USD 0.14 compared to basic loss per share of USD 0.01 a year ago. For the full year, net interest income was USD 60.012 million compared to USD 59.394 million a year ago. Net income was USD 16.408 million compared to USD 12.320 million a year ago. Basic earnings per share was USD 0.57 compared to USD 0.41 a year ago.
Western New England Bancorp, Inc. is a Massachusetts-chartered stock holding company. The Company is the parent company of Westfield Bank (the Bank), CSB Colts, Inc. (CSB Colts), Elm Street Securities Corporation (Elm), WFD Securities, Inc. (WFD) and WB Real Estate Holdings, LLC (WB). The Bank is a full-service, community oriented financial institution offering a full range of commercial and retail products and services as well as wealth management financial products. The Bank also provides a variety of banking services, including telephone and online banking, remote deposit capture, cash management services, overdraft facilities, night deposit services, and safe deposit facilities. CSB Colts, Elm, and WFD are engaged in holding qualified securities. WB is engaged in holding other real estate owned (OREO). The Bank operates about 25 banking offices in Agawam, Chicopee, Feeding Hills, East Longmeadow, Holyoke, Huntington, Ludlow, South Hadley, Southwick, Springfield, Ware, and others.
WESTERN NEW ENGLAND BANCORP, INC. 
