Business
Western New England Bancorp, Inc. Announces Completion of 2024 Repurchase Plan
WESTFIELD, Mass., June 03, 2025 (GLOBE NEWSWIRE) -- Western New England Bancorp, Inc. (the “Company” or “WNEB”) (NasdaqGS: WNEB), the holding company for Westfield Bank (the “Bank”), announced that on May 30, 2025, the Company completed all repurchases under its existing stock repurchase plan (the “2024 Repurchase Plan”) at an average price per share of $8.79. The 2024 Repurchase Plan authorized the Company to repurchase a total of 1.0 million shares of the Company’s common stock, or approximate
About this update from Western New England Bancorp, Inc.
[{"type":"image","alt":"Westfield Bank","displaySize":"","headline":null,"caption":"Westfield Bank","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":176,"url":"https://media.zenfs.com/en/globenewswire.com/7056287f9191c2ba4b3b7435299206f7"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/s4YOXbWiFqjxqfVgjoNRdQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTI0NjtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/7056287f9191c2ba4b3b7435299206f7","width":300,"height":176}},"lazy":false},{"type":"text","content":"WESTFIELD, Mass., June 03, 2025 (GLOBE NEWSWIRE) -- Western New England Bancorp, Inc. (the “Company” or “WNEB”) (NasdaqGS: WNEB), the holding company for Westfield Bank (the “Bank”), announced that on May 30, 2025, the Company completed all repurchases under its existing stock repurchase plan (the “2024 Repurchase Plan”) at an average price per share of $8.79. The 2024 Repurchase Plan authorized the Company to repurchase a total of 1.0 million shares of the Company’s common stock, or approximately 4.6% of the Company’s then-outstanding shares of common stock. The Board of Directors authorized the 2024 Repurchase Plan on May 21, 2024.","length":641,"tagName":"p"},{"type":"text","content":"On April 22, 2025, the Board of Directors of the Company authorized a new stock repurchase plan, pursuant to which the Company may repurchase up to 1.0 million shares, or approximately 4.8% of the Company’s outstanding shares of common stock, upon the completion of the 2024 Repurchase Plan.","length":291,"tagName":"p"},{"type":"text","content":"James C. Hagan, President and Chief Executive Officer, commented, “We are pleased to announce the completion of our 2024 Repurchase Plan. We believe that share repurchases are a prudent use of the Company’s capital and demonstrate our commitment to effectively manage the Company’s capital levels, while increasing total shareholder returns through stock repurchases as well as cash dividends.”","length":394,"tagName":"p"},{"type":"text","content":"The Company may repurchase shares from time to time in open market transactions or through privately negotiated transactions at the Company’s discretion or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. The amount, timing and nature of any share repurchases will be based on a variet...