Western New England Bancorp (NASDAQ:WNEB) Full Year 2024 Results

Key Financial Results

• Revenue: US$73.4m (down 6.3% from FY 2023).
• Net income: US$11.7m (down 23% from FY 2023).
• Profit margin: 16% (down from 19% in FY 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.56 (down from US$0.70 in FY 2023).

WNEB Banking Performance Indicators

• Net interest margin (NIM): 2.47% (down from 2.84% in FY 2023).
• Cost-to-income ratio: 81.8% (up from 74.3% in FY 2023).
• Non-performing loans: 0.26% (down from 0.32% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Western New England Bancorp EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.7%.

In the last 12 months, the only revenue segment was Community Banking contributing US$73.4m. The largest operating expense was General & Administrative costs, amounting to US$47.9m (78% of total expenses). Explore how WNEB's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 1.3% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 7.4%.

The company's shares are down 3.7% from a week ago.

Risk Analysis

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.