Western New England Bancorp Files 2023 10-K
Ticker: WNEB · Form: 10-K · Filed: 2024-03-08T00:00:00.000Z
Sentiment: neutral
Topics: 10-K, financials, banking
TL;DR
WNEB filed its 2023 10-K. Full financials and biz details inside.
AI Summary
Western New England Bancorp, Inc. filed its 2023 10-K report on March 8, 2024, detailing its financial performance for the fiscal year ending December 31, 2023. The company, formerly Westfield Financial Inc., operates as a federally chartered savings institution. Key financial data and operational details for the period are presented in the filing.
Why It Matters
This filing provides investors and stakeholders with a comprehensive overview of Western New England Bancorp's financial health, operational performance, and strategic positioning for the fiscal year 2023.
Risk Assessment
Risk Level: medium — As a financial institution, Western New England Bancorp is subject to various market, credit, and regulatory risks inherent in the banking sector.
Key Numbers
- 22.393B — Total Assets (Represents the company's total assets as of December 31, 2023.)
- 22.049B — Total Liabilities (Represents the company's total liabilities as of December 31, 2023.)
- 1.143B — Interest Receivable (Amount of interest earned but not yet received as of December 31, 2023.)
- 2.807B — Financing Receivable (Represents loans and financing receivables, excluding accrued interest, after allowance for credit losses as of December 31, 2023.)
Key Players & Entities
- Western New England Bancorp, Inc. (company) — Filer of the 10-K
- Westfield Financial Inc. (company) — Former name of the company
- 141 Elm Street, Westfield, MA 01085 (location) — Business and mailing address
- March 8, 2024 (date) — Filing date of the 10-K
- December 31, 2023 (date) — Fiscal year end
FAQ
What was Western New England Bancorp's total asset value at the end of fiscal year 2023?
As of December 31, 2023, Western New England Bancorp reported total assets of $22.393 billion.
When did Western New England Bancorp file its 10-K report for the fiscal year 2023?
The 10-K report for the fiscal year ending December 31, 2023, was filed on March 8, 2024.
What is the company's primary business classification?
The company is classified under Standard Industrial Classification 6035 as a Savings Institution, Federally Chartered.
What was the company's total liability figure for the fiscal year 2023?
Total liabilities for Western New England Bancorp as of December 31, 2023, were $22.049 billion.
What was the amount of financing receivables reported by the company at the end of 2023?
The company reported financing receivables, excluding accrued interest after allowance for credit losses, of $2.807 billion as of December 31, 2023.
From the Filing
0001999371-24-003319.txt : 20240308 0001999371-24-003319.hdr.sgml : 20240308 20240308164420 ACCESSION NUMBER: 0001999371-24-003319 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 150 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240308 DATE AS OF CHANGE: 20240308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Western New England Bancorp, Inc. CENTRAL INDEX KEY: 0001157647 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] ORGANIZATION NAME: 02 Finance IRS NUMBER: 731627673 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16767 FILM NUMBER: 24735131 BUSINESS ADDRESS: STREET 1: 141 ELM STREET CITY: WESTFIELD STATE: MA ZIP: 01085 BUSINESS PHONE: 413-568-1911 MAIL ADDRESS: STREET 1: 141 ELM STREET CITY: WESTFIELD STATE: MA ZIP: 01085 FORMER COMPANY: FORMER CONFORMED NAME: WESTFIELD FINANCIAL INC DATE OF NAME CHANGE: 20010816 10-K 1 wneb-10k_123123.htm ANNUAL REPORT false FY 2023 --12-31 true false 0001157647 http://fasb.org/us-gaap/2023#InterestReceivable http://fasb.org/us-gaap/2023#OtherAssets http://fasb.org/us-gaap/2023#OtherAssets http://fasb.org/us-gaap/2023#OtherLiabilities http://fasb.org/us-gaap/2023#OtherLiabilities 9562 http://fasb.org/us-gaap/2023#InterestReceivable http://fasb.org/us-gaap/2023#AccountingStandardsUpdate201613Member 1182 931000 1193 5999 4469 6421 5694 P3Y P1Y P3Y P3Y P3Y P3Y P3Y P3Y P3Y P3Y P3Y P3Y P3Y P3Y 2807 1143 http://fasb.org/us-gaap/2023#FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss http://fasb.org/us-gaap/2023#OtherAssets http://fasb.org/us-gaap/2023#OtherLiabilities http://fasb.org/us-gaap/2023#OtherAssets http://fasb.org/us-gaap/2023#OtherLiabilities P5Y 22393 22049 1143 2807 0001157647 2023-01-01 2023-12-31 0001157647 2023-06-30 0001157647 2024-03-06 0001157647 2023-12-31 0001157647 2022-12-31 0001157647 2022-01-01 2022-12-31 0001157647 2021-01-01 2021-12-31 0001157647 us-gaap:CommonStockMember 2020-12-31 0001157647 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001157647 wneb:EmployeeStockOwnershipPlanESOPPlanMember 2020-12-31 0001157647 us-gaap:DeferredCompensationShareBasedPaymentsMember 2020-12-31 0001157647 us-gaap:RetainedEarningsMember 2020-12-31 0001157647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0001157647 2020-12-31 0001157647 us-gaap:CommonStockMember 2021-01-01 2021-12-31 0001157647 us-gaap:AdditionalPaidInCapitalMember 2021-01-01 2021-12-31 0001157647 wneb:EmployeeStockOwnershipPlanESOPPlanMember 2021-01-01 2021-12-31 0001157647 us-gaap:DeferredCompensationShareBasedPaymentsMember 2021-01-01 2021-12-31 0001157647 us-gaap:RetainedEarningsMember 2021-01-01 2021-12-31 0001157647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-01-01 2021-12-31 0001157647 us-gaap:CommonStockMember 2022-01-01 2022-12-31 0001157647 us-gaap:AdditionalPaidInCapitalMember 2022-01-01 2022-12-31 0001157647 wneb:EmployeeStockOwnershipPlanESOPPlanMember 2022-01-01 2022-12-31 0001157647 us-gaap:DeferredCompensationShareBasedPaymentsMember 2022-01-01 2022-12-31 0001157647 us-gaap:RetainedEarningsMember 2022-01-01 2022-12-31 0001157647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-01-01 2022-12-31 0001157647 us-gaap:CommonStockMember 2023-01-01 2023-12-31 0001157647 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-12-31 0001157647 wneb:EmployeeStockOwnershipPlanESOPPlanMember 2023-01-01 2023-12-31 0001157647 us-gaap:DeferredCompensationShareBasedPaymentsMember 2023-01-01 2023-12-31 0001157647 us-gaap:RetainedEarningsMember 2023-01-01 2023-12-31 0001157647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-12-31 0001157647 us-gaap:CommonStockMember 2021-12-31 0001157647 us-gaap:AdditionalPaidInCapitalMember 2021-12-31 0001157647 wneb:EmployeeStockOwnershipPlanESOPPlanMember 2021-12-31 0001157647 us-gaap:DeferredCompensationShareBasedPaymentsMember 2021-12-31 0001157647 us-gaap:RetainedEarningsMember 2021-12-31 000