Western new england bancorp, inc. (WNEB)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Interest and dividend income:
Residential and commercial real estate loans

15,654

16,292

15,831

15,146

14,971

14,798

14,507

14,543

13,799

13,691

13,474

13,406

13,162

11,759

7,367

6,924

6,512

6,354

6,105

5,715

5,595

5,697

5,590

5,419

5,247

5,166

5,037

5,006

4,995

5,136

5,190

5,084

5,039

4,997

4,984

4,845

4,674

4,524

4,408

Commercial and industrial loans

3,006

2,986

3,195

3,071

3,002

3,228

2,982

3,777

2,814

3,408

2,883

2,721

2,575

2,333

1,728

1,674

1,696

1,674

1,703

1,619

1,598

1,595

1,509

1,368

1,277

1,257

1,299

1,267

1,241

1,192

1,247

1,253

1,302

1,339

1,428

1,420

1,443

1,657

1,671

Consumer loans

87

88

85

85

85

85

88

85

89

83

88

84

89

79

43

41

42

44

41

37

36

38

36

34

33

36

35

34

35

-

-

-

-

45

47

47

49

53

53

Consumer loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

39

40

40

-

-

-

-

-

-

Debt securities, taxable

1,346

1,375

1,406

1,571

1,629

1,693

1,709

1,770

1,748

1,804

1,828

1,871

1,830

1,663

1,618

1,679

2,427

2,480

2,807

2,832

2,658

2,830

2,896

2,994

3,160

3,316

3,659

3,611

3,716

3,793

3,934

4,050

3,844

4,040

4,235

4,653

4,811

4,872

5,018

Debt securities, tax-exempt

17

18

17

17

20

21

19

21

24

23

25

25

31

33

32

28

75

94

147

175

186

206

208

209

210

234

259

270

304

376

378

415

423

422

420

419

419

387

385

Equity securities

36

-

-

-

41

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity securities

-

-

42

42

-

40

38

38

36

35

35

35

35

40

45

43

52

36

43

42

41

44

43

53

36

43

36

36

37

-

-

-

-

65

46

47

47

50

51

Other investments

182

195

192

210

236

232

228

202

201

177

172

166

163

152

130

136

132

133

126

69

68

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5

7

Equity securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

41

42

-

-

-

-

-

-

-

Other investments - at cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

59

63

65

-

20

21

19

-

23

25

-

-

-

-

-

-

-

Equity securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

45

-

-

-

-

-

-

Other investments - at cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22

-

14

18

14

-

-

Short-term investments

62

45

36

73

76

92

34

28

21

18

11

19

72

47

14

29

25

5

2

5

6

2

2

3

6

3

3

1

2

-

1

1

-

-

-

-

-

2

2

Total interest and dividend income

20,390

21,037

20,804

20,215

20,060

20,189

19,605

20,464

18,732

19,239

18,516

18,327

17,957

16,106

10,977

10,554

10,961

10,820

10,974

10,494

10,188

10,471

10,343

10,143

10,034

10,088

10,348

10,246

10,349

10,626

10,853

10,910

10,715

10,925

11,174

11,449

11,457

11,550

11,595

Interest expense:
Deposits

4,236

4,417

4,454

4,367

3,969

3,516

3,094

2,718

2,355

2,269

2,111

2,059

2,009

1,992

1,582

1,535

1,472

1,436

1,414

1,380

1,341

1,300

1,298

1,288

1,291

1,358

1,390

1,390

1,387

1,477

1,505

1,523

1,637

1,697

1,811

1,975

2,106

2,381

2,495

Long-term debt

1,014

1,069

1,102

1,051

1,139

1,202

1,193

1,130

855

627

534

549

551

517

446

461

842

888

1,083

1,092

1,070

1,119

1,125

1,071

1,011

1,051

1,094

1,188

1,258

1,534

1,618

1,623

1,631

1,660

1,716

1,710

1,645

1,759

1,600

Short-term borrowings

587

627

720

596

626

651

713

751

800

991

1,075

976

894

857

621

556

404

343

317

243

187

174

86

83

77

73

36

31

34

21

27

37

30

25

28

35

59

61

76

Total interest expense

5,837

6,113

6,276

6,014

5,734

5,369

5,000

4,599

4,010

3,887

3,720

3,584

3,454

3,366

2,649

2,552

2,718

2,667

2,814

2,715

2,598

2,593

2,509

2,442

2,379

2,482

2,520

2,609

2,679

3,032

3,150

3,183

3,298

3,382

3,555

3,720

3,810

4,201

4,171

Net interest and dividend income

14,553

14,924

14,528

14,201

14,326

14,820

14,605

15,865

14,722

15,352

14,796

14,743

14,503

12,740

8,328

8,002

8,243

8,153

8,160

7,779

7,590

7,878

7,834

7,701

7,655

7,606

7,828

7,637

7,670

7,594

7,703

7,727

7,417

7,543

7,619

7,729

7,647

7,349

7,424

Provision for loan losses

2,100

1,000

1,275

350

50

300

350

750

500

510

200

350

300

175

375

625

-600

475

150

350

300

275

750

450

100

-

-71

-70

-

0

218

260

220

-

15

175

339

3,928

4,120

Provision (credit) for loan losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-235

-

-

-

-

-

-

-

-

-

-

Net interest and dividend income after provision for loan losses

12,453

13,924

13,253

13,851

14,276

14,520

14,255

15,115

14,222

14,842

14,596

14,393

14,203

12,565

7,953

7,377

8,843

7,678

8,010

7,429

7,290

7,603

7,084

7,251

7,555

7,486

7,899

7,707

7,905

7,594

7,485

7,467

7,197

6,866

7,604

7,554

7,308

3,421

3,304

Non-interest income:
Service charges and fees

-1,774

-1,863

-2,018

-1,850

-1,633

-1,770

-1,891

-1,693

-1,583

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Service charges and fees

-

-

-

-

-

-

-

-

-

-

1,714

1,549

1,526

-

953

859

884

865

789

840

638

660

655

632

670

-

615

594

-

-

-

-

-

-

-

-

-

-

-

Total other-than-temporary impairment losses on debt securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-711

536

433

345

-

-

Portion of other-than-temporary impairment losses recognized in accumulated other comprehensive income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-711

474

425

313

-

-

Net other-than-temporary impairment losses recognized in income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

62

8

32

-

-

Service charges and fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

572

-

617

521

509

510

501

521

441

456

492

Income from BOLI

441

452

444

478

425

451

448

484

442

455

450

480

439

425

369

403

361

379

374

407

367

374

384

386

379

389

388

387

385

387

390

278

384

394

398

388

366

380

385

Gain on bank-owned life insurance death benefit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

563

-

-

-

-

-

-

-

-

-

-

-

Loss on prepayment of borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-915

0

-429

-278

-593

-

0

0

0

0

-540

-1,404

-1,426

-

-

-

-

-

-

-

-

-

-

Gain on bank-owned life insurance death benefit

-

-

-

-

-

-

-

715

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on bank-owned life insurance death benefit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

5

75

-

-

-

-

-

-

Loss on prepayment of borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,700

-

-

-

-

-

-

Gain on available-for-sale securities, net

23

-85

49

-96

35

-31

0

-49

-201

-

-

-

-

455

1

-2

685

-1

414

276

817

44

226

21

29

330

546

823

1,427

1,051

174

97

1,585

-

131

46

-

-

-

Gain on sale of OREO

-

-

-

-

-

0

0

0

48

-

67

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-25

-

-

-

-6

Gain (loss) on securities, net

-

-

-

-

-

-

-

-

-

-

70

46

-64

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net unrealized gains on marketable equity securities

102

-29

45

79

70

48

-43

-41

-106

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other income

185

205

55

206

8

-

-

131

-

0

111

0

116

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sales of securities, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31

2,609

1,132

Total non-interest income

2,525

2,406

2,611

2,517

2,171

2,238

2,296

2,933

1,766

1,997

2,412

2,075

2,017

2,373

1,323

1,260

1,015

1,243

1,148

1,245

1,229

1,078

1,265

1,039

1,078

1,342

1,009

963

958

1,355

1,181

901

2,553

1,110

943

947

806

3,445

2,003

Non-interest expense:
Salaries and employees benefits

7,172

7,105

6,893

6,876

6,780

6,434

6,451

6,564

6,533

6,477

6,490

6,239

6,225

5,613

4,057

3,845

3,871

3,559

3,903

3,863

3,821

3,643

3,623

3,665

3,778

3,774

4,059

3,817

3,808

3,938

4,188

4,127

4,277

3,848

3,997

3,759

3,953

3,661

3,451

Occupancy

1,167

1,030

975

998

1,171

995

952

967

1,060

959

891

917

1,007

667

555

564

801

-110

784

818

840

821

743

751

761

730

733

730

705

704

663

703

705

645

691

657

678

656

636

Furniture and equipment

391

417

424

427

405

412

400

382

367

384

410

366

373

-

242

247

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Data processing

715

703

710

702

665

681

642

678

637

632

680

669

391

-

404

380

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Computer operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

621

-

636

559

585

616

600

610

515

610

602

602

526

512

544

523

527

480

473

478

486

461

497

Professional fees

599

581

546

607

705

703

767

681

659

640

642

681

596

460

656

545

516

622

596

488

472

446

495

483

512

497

499

527

510

471

432

532

437

507

524

563

439

391

443

OREO expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

22

188

11

21

17

18

31

13

8

62

21

FDIC insurance assessment

151

13

5

236

176

140

158

147

158

154

163

186

117

122

214

190

190

207

212

188

193

205

166

177

165

162

169

163

161

161

152

155

143

128

207

140

208

223

168

Merger related expenses

-

-

-

-

-

-

-

-

-

0

0

116

410

2,138

830

929

154

-

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Advertising

252

234

364

370

364

342

351

355

347

335

328

385

248

-

192

262

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other expenses

1,867

1,822

1,823

1,924

1,757

1,986

1,851

1,772

1,665

1,784

1,552

1,737

1,603

1,669

1,075

1,036

919

1,272

736

949

800

765

721

845

803

714

789

950

783

774

808

772

738

720

716

823

768

730

724

Total non-interest expense

12,314

11,905

11,740

12,140

12,023

11,693

11,572

11,546

11,426

11,365

11,156

11,296

10,970

12,011

8,225

7,998

7,072

6,990

6,867

6,865

6,711

6,496

6,348

6,531

6,534

6,487

6,851

6,789

6,515

6,748

6,798

6,833

6,844

6,346

6,639

6,433

6,540

6,184

5,940

Income before income taxes

2,664

4,425

4,124

4,228

4,424

5,065

4,979

6,502

4,562

5,474

5,852

5,172

5,250

2,927

1,051

639

2,786

1,931

2,291

1,809

1,808

2,185

2,001

1,759

2,099

2,341

2,057

1,881

2,348

2,201

1,868

1,535

2,906

1,630

1,908

2,068

1,574

682

-633

Income tax provision

584

988

899

971

994

1,223

1,070

1,364

1,043

5,828

2,037

1,416

147

1,074

423

250

822

529

680

445

470

523

491

417

451

532

476

297

566

647

481

561

567

101

414

503

288

-17

-247

Net income

2,080

3,437

3,225

3,257

3,430

3,842

3,909

5,138

3,519

-354

3,815

3,756

5,103

1,853

628

389

1,964

1,402

1,611

1,364

1,338

1,662

1,510

1,342

1,648

1,809

1,581

1,584

1,782

1,554

1,387

974

2,339

1,529

1,494

1,565

1,286

699

-386

Earnings per common share:
Basic earnings per share (in dollars per share)

0.08

0.13

0.12

0.13

0.13

0.13

0.14

0.18

0.12

-0.02

0.13

0.13

0.17

0.08

0.04

0.02

0.11

0.08

0.09

0.08

0.08

0.10

0.08

0.07

0.09

0.10

0.08

0.08

0.08

0.07

0.06

0.04

0.09

0.05

0.06

0.06

0.05

0.03

-0.01

Weighted average shares outstanding (in shares)

25,565

25,802

25,854

26,047

27,037

28,237

28,789

29,035

29,484

29,754

30,103

29,980

29,597

26,811

17,377

17,337

17,304

17,324

17,461

17,519

17,684

17,703

17,910

18,308

18,812

19,355

19,583

20,276

21,102

23,024

24,391

25,141

25,449

26,099

26,443

26,639

26,746

27,432

27,970

Diluted earnings per share (in dollars per share)

0.08

0.14

0.12

0.12

0.13

0.13

0.14

0.18

0.12

-0.01

0.13

0.12

0.17

0.09

0.02

0.02

0.11

0.08

0.09

0.08

0.08

0.10

0.08

0.07

0.09

0.10

0.08

0.08

0.08

0.07

0.06

0.04

0.09

0.05

0.06

0.06

0.05

0.03

-0.01

Weighted average diluted shares outstanding (in shares)

25,617

25,929

25,969

26,160

27,153

28,381

28,937

29,178

29,620

29,889

30,219

30,120

29,878

27,195

17,377

17,337

17,304

17,324

17,461

17,519

17,684

17,703

17,910

18,308

18,812

19,355

19,583

20,276

21,102

23,024

24,393

25,158

25,502

26,182

26,544

26,755

26,875

27,586

27,970