WNEB Q2 2024: Assets $128M, Liabilities $41M, Net Income $5.5M

Ticker: WNEB · Form: 10-Q · Filed: 2024-08-09T00:00:00.000Z

Sentiment: neutral

Topics: quarterly-report, financials, earnings

Related Tickers: WNEB

TL;DR

WNEB Q2: Assets $128M, Liabilities $41M, Net Income $5.5M. Solid quarter.

AI Summary

Western New England Bancorp, Inc. (WNEB) filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key figures include total assets of $128,277 thousand and total liabilities of $40,646 thousand as of June 30, 2024. The company reported net income of $5,550 thousand for the three months ended June 30, 2024.

Why It Matters

This filing provides investors with a snapshot of Western New England Bancorp's financial health and performance for the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative events indicated.

Key Numbers

$128.3B — Total Assets (As of June 30, 2024, indicating the company's overall size.)
$40.6B — Total Liabilities (As of June 30, 2024, showing the company's obligations.)
$5.5B — Net Income (For the three months ended June 30, 2024, reflecting profitability.)

Key Players & Entities

Western New England Bancorp, Inc. (company) — Filer of the 10-Q report
June 30, 2024 (date) — End of the reporting period
$128,277 thousand (dollar_amount) — Total assets as of June 30, 2024
$40,646 thousand (dollar_amount) — Total liabilities as of June 30, 2024
$5,550 thousand (dollar_amount) — Net income for the three months ended June 30, 2024

FAQ

What was Western New England Bancorp's net income for the three months ended June 30, 2024?

The company reported a net income of $5,550 thousand for the three months ended June 30, 2024.

What were the total assets of Western New England Bancorp as of June 30, 2024?

Total assets were $128,277 thousand as of June 30, 2024.

What were the total liabilities of Western New England Bancorp as of June 30, 2024?

Total liabilities amounted to $40,646 thousand as of June 30, 2024.

What is the fiscal year end for Western New England Bancorp?

The fiscal year end for Western New England Bancorp is December 31.

What was the company's previous name before the change on August 16, 2001?

The company's former name was WESTFIELD FINANCIAL INC.

From the Filing

0001999371-24-009828.txt : 20240809 0001999371-24-009828.hdr.sgml : 20240809 20240809160936 ACCESSION NUMBER: 0001999371-24-009828 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 84 CONFORMED PERIOD OF REPORT: 20240630 FILED AS OF DATE: 20240809 DATE AS OF CHANGE: 20240809 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-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-16767 FILM NUMBER: 241192817 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-Q 1 wneb-10q_063024.htm QUARTERLY REPORT false 2024 Q2 --12-31 0001157647 128277 40646 430000 171000 16.6 880000 327000 29.5 5550 5999 5845 6421 12487 P3Y P1Y P3Y P3Y P3Y P3Y P3Y P3Y P3Y P3Y 128277 40646 6570 http://fasb.org/us-gaap/2024#OtherAssets http://fasb.org/us-gaap/2024#OtherLiabilities http://fasb.org/us-gaap/2024#OtherAssets http://fasb.org/us-gaap/2024#OtherLiabilities 0001157647 2024-01-01 2024-06-30 0001157647 2024-08-05 0001157647 2024-06-30 0001157647 2023-12-31 0001157647 2024-04-01 2024-06-30 0001157647 2023-04-01 2023-06-30 0001157647 2023-01-01 2023-06-30 0001157647 us-gaap:CommonStockMember 2023-12-31 0001157647 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001157647 wneb:EmployeeStockOwnershipPlanESOPPlanMember 2023-12-31 0001157647 us-gaap:DeferredCompensationShareBasedPaymentsMember 2023-12-31 0001157647 us-gaap:RetainedEarningsMember 2023-12-31 0001157647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001157647 us-gaap:CommonStockMember 2022-12-31 0001157647 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001157647 wneb:EmployeeStockOwnershipPlanESOPPlanMember 2022-12-31 0001157647 us-gaap:DeferredCompensationShareBasedPaymentsMember 2022-12-31 0001157647 us-gaap:RetainedEarningsMember 2022-12-31 0001157647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0001157647 2022-12-31 0001157647 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0001157647 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-03-31 0001157647 wneb:EmployeeStockOwnershipPlanESOPPlanMember 2024-01-01 2024-03-31 0001157647 us-gaap:DeferredCompensationShareBasedPaymentsMember 2024-01-01 2024-03-31 0001157647 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0001157647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-03-31 0001157647 2024-01-01 2024-03-31 0001157647 us-gaap:CommonStockMember 2024-04-01 2024-06-30 0001157647 us-gaap:AdditionalPaidInCapitalMember 2024-04-01 2024-06-30 0001157647 wneb:EmployeeStockOwnershipPlanESOPPlanMember 2024-04-01 2024-06-30 0001157647 us-gaap:DeferredCompensationShareBasedPaymentsMember 2024-04-01 2024-06-30 0001157647 us-gaap:RetainedEarningsMember 2024-04-01 2024-06-30 0001157647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-04-01 2024-06-30 0001157647 us-gaap:CommonStockMember 2023-01-01 2023-03-31 0001157647 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-03-31 0001157647 wneb:EmployeeStockOwnershipPlanESOPPlanMember 2023-01-01 2023-03-31 0001157647 us-gaap:DeferredCompensationShareBasedPaymentsMember 2023-01-01 2023-03-31 0001157647 us-gaap:RetainedEarningsMember 2023-01-01 2023-03-31 0001157647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-03-31 0001157647 2023-01-01 2023-03-31 0001157647 us-gaap:CommonStockMember 2023-04-01 2023-06-30 0001157647 us-gaap:AdditionalPaidInCapitalMember 2023-04-01 2023-06-30 0001157647 wneb:EmployeeStockOwnershipPlanESOPPlanMember 2023-04-01 2023-06-30 0001157647 us-gaap:DeferredCompensationShareBasedPaymentsMember 2023-04-01 2023-06-30 000