Western New England Bancorp, Inc. Reports Results for Three Months and Year Ended December 31, 2021 and Announces 20% Increase in Quarterly Cash Dividend

WESTFIELD, Mass., Jan. 25, 2022 (GLOBE NEWSWIRE) -- Western New England Bancorp, Inc. (the “Company” or “WNEB”) (NasdaqGS: WNEB), the holding company for Westfield Bank (the “Bank”), announced today the unaudited results of operations for the three and twelve months ended December 31, 2021. For the three months ended December 31, 2021, the Company reported net income of $6.2 million, or $0.28 per diluted share, compared to net income of $5.0 million, or $0.20 per diluted share, for the three months ended December 31, 2020. On a linked quarter basis, net income was $6.2 million, or $0.28 per diluted share, as compared to net income of $6.0 million, or $0.27 per diluted share, for the three months ended September 30, 2021. For the twelve months ended December 31, 2021, net income was $23.7 million, or $1.02 per diluted share, compared to net income of $11.2 million, or $0.45 per diluted share, for the twelve months ended December 31, 2020.

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