A $1.8 million commercial real estate charge-off tied to a borrower bankruptcy tanked earnings to $0.18, missing consensus by 25%, though the bank cleared revenue expectations with a 16% beat on expanding net interest margins and loan growth.
Western New England :
WNEB
WNEB
Stock Data
$13.65
$0.44 (3.09%)
Asset Type
Common Stock
Exchange
NASDAQ
Currency
USD
Country
USA
Sector
FINANCIAL SERVICES
Industry
BANKS - REGIONAL
Western New England Bancorp, Inc., through its primary subsidiary Westfield Bank, offers a wide array of banking products and services tailored to individuals and businesses. This includes a variety of checking and savings accounts, certificates of deposit, and retirement savings options. The bank also specializes in providing loans for residential real estate, commercial and industrial projects, and personal needs like auto and home equity. Additionally, it offers modern banking conveniences such as online banking, ATM services, and cash management. Founded in 1853, it is based in Westfield, Massachusetts, emphasizing community and customer service.
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