Western New England Bancorp Q3 2024 10-Q Filed

TL;DR

WNEB filed its Q3 10-Q. Financials look stable, no major red flags.

AI Summary

Western New England Bancorp, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial figures and balance sheet items are presented, reflecting the company's financial position.

Why It Matters

This filing provides investors and analysts with a detailed look at Western New England Bancorp's financial health and performance during the third quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant risks.

Key Numbers

• 128277 — Total Assets (As of September 30, 2024)
• 40646 — Total Liabilities (As of September 30, 2024)
• 4390 — Total Equity (As of September 30, 2024)

Key Players & Entities

• Western New England Bancorp, Inc. (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241108 (date) — Filing date of the report
• 141 ELM STREET (location) — Company's business and mailing address
• WESTFIELD (location) — City of the company's address
• MA (location) — State of the company's address
• 01085 (location) — ZIP code of the company's address

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share WNEB NASDAQ Ind

Filing Documents

• wneb-10q_093024.htm (10-Q) — 3424KB
• ex31-1.htm (EX-31.1) — 16KB
• ex31-2.htm (EX-31.2) — 16KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001999371-24-014440.txt ( ) — 16262KB
• wneb-20240930.xsd (EX-101.SCH) — 70KB
• wneb-20240930_cal.xml (EX-101.CAL) — 130KB
• wneb-20240930_def.xml (EX-101.DEF) — 347KB
• wneb-20240930_lab.xml (EX-101.LAB) — 622KB
• wneb-20240930_pre.xml (EX-101.PRE) — 507KB
• wneb-10q_093024_htm.xml (XML) — 4253KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS i

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements of Western New England Bancorp, Inc. and Subsidiaries (Unaudited)

Financial Statements of Western New England Bancorp, Inc. and Subsidiaries (Unaudited) 1 Consolidated Balance Sheets – September 30, 2024 and December 31, 2023 1 Consolidated Statements of Net Income – Three and Nine Months Ended September 30, 2024 and 2023 2 Consolidated Statements of Comprehensive Income – Three and Nine Months Ended September 30, 2024 and 2023 3 Consolidated Statements of Changes in Shareholders' Equity – Three and Nine Months Ended September 30, 2024 and 2023 4 Consolidated Statements of Cash Flows – Nine Months Ended September 30, 2024 and 2023 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 41 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 64 Item 4.

Controls and Procedures

Controls and Procedures 65

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 65 Item 1A.

Risk Factors

Risk Factors 65 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 65 Item 3. Defaults upon Senior Securities 66 Item 4. Mine Safety Disclosures 66 Item 5. Other Information 66 Item 6. Exhibits 66 FORWARD–LOOKING We may, from time to time, make written or oral "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to Western New England Bancorp, Inc.'s (the "Company") financial condition, liquidity, results of operations, future performance, and business. Forward-looking "should," "planned," "estimated," and "potential." Examples of forward-looking that are subject to various factors which could cause actual results to differ materially from these estimates. These factors include, but are not limited to: unpredictable changes in general economic conditions and political events, including the impact of the upcoming U.S. presidential election, financial markets, fiscal, monetary and regulatory policies, including actual or potential stress in the banking industry; the duration and scope of potential pandemics, including the emergence of new variants and the response thereto; changes in economic conditions which could materially impact credit quality trends and the ability to generate loans and gather deposits; inflation and governmental responses to inflation, including recent sustained increases and potential future increases in interest rates that reduce margins; the effect on our operations of governmental legislation and regulation, including changes in accounting regulation or standards, the nature and timing of the adoption and effectiveness of new requirements under the Dodd-Frank Wall Street Reform and Consumer Protecti

View Full Filing

View this 10-Q filing on SEC EDGAR