Western New England Bancorp, Inc. · NASDAQ:WNEB
Western New England Bancorp — Shareholder Meeting (May 2021)
27 slides from Western New England Bancorp's shareholder meeting presentation, May 11, 2021
Slide 1: 2021 Annual Shareholders' Meeting
1 2021 Annual Shareholders’ Meeting May 11, 2021
Slide 2: Board of Directors
Board of Directors James C . Hagan, President & Chief Executive Officer Lisa G . McMahon , Chairperson of the Board Laura Benoit , Director Donna J . Damon , Director Gary G . Fitzgerald , Director William D . Masse , Director Gregg F . Orlen , Director Paul C . Picknelly , Director Steven G . Richt
Slide 3: Welcome to the 2021 Annual Shareholders' Meeting
Welcome to the Western New England Bancorp 2021 Annual Shareholders’ Meeting James C. Hagan President Chief Executive Officer 3
Slide 4: Board of Directors
4 Board of Directors Western New England Bancorp
Slide 5: Board of Directors
Board of Directors 5 In 2020 , we proudly announced that Lisa G . McMahon was elected Chairperson of Western New England Bancorp’s Board of Directors . Ms . McMahon’s historic appointment makes her the first female Chairperson in the organization’s 168 - year history . A WNEB board member since 2014
Slide 6: Introduction of Guests
Introduction of Guests Paul M. Maleck , Law Offices of Doherty, Wallace, Pillsbury & Murphy, Inspector of Elections John J. Doherty, CPA, CGMA, Wolf & Company, Independent Auditor Richard Quad, Griffin Financial, Investment Banker 655 Main Street, Agawam, MA 6
Slide 7: Senior Management Team
Senior Management Team James C . Hagan, President & Chief Executive Officer Guida R . Sajdak, Executive Vice President & Chief Financial Officer Allen J . Miles, III, Executive Vice President & Chief Lending Officer Kevin C . O’Connor, Executive Vice President & Chief Banking Officer John E . Bonini
Slide 8: Senior Management Team
Senior Management Team 8 Christine Phillips, Senior Vice President, Human Resources Director . Christine is a member of the Society of Human Resources Management and earned her BA from the University of Massachusetts and is currently enrolled in the MBA program at the Isenberg School of Management a
Slide 9: Proposals
Proposals Proposal 1: Election of Directors to serve a three year term: • James C. Hagan • William D. Masse • Gregg F. Orlen • Phillip R. Smith Proposal 2: An Advisory, Non - Binding Vote on Executive Compensation “ Say on Pay” Proposal 3: Ratification of Independent Registered Public Accounting Fir
Slide 10: Voting Results
Voting Results Paul M. Maleck Inspector of Elections 300 Southampton Road, Westfield, MA 10
Slide 11: Financial Results for 2020 and First Quarter 2021
Financial Results for 2020 and First Quarter 2021 Guida R. Sajdak Executive Vice President Chief Financial Officer 11
Slide 12: Forward-looking statements
We may, from time to time, make written or oral “forward - looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 , including statements contained in our filings with the Securities and Exchange Commission (the “SEC”), our reports to shareholders and in other
Slide 13: 2020 Quarterly Earnings
2020 Quarterly Earnings 13 4Q2020 3Q2020 2Q2020 1Q2020 Net interest income $ 18,795 $ 15,990 $ 15,092 $ 14,553 Provision for loan losses 500 2,725 2,450 2,100 Non - interest income 2,462 2,177 2,087 2,525 Non - interest expense 14,338 12,853 12,245 12,314 Income before taxes 6,419 2,589 2,484 2,664
Slide 14: Balance Sheet Transformation
Balance Sheet Transformation 55% 37% Loans and Securities (% of Total Assets) 2014 Loans Securities (1) Includes $167 million in Small Business Administration Paycheck Protection Program Loans (“PPP”) (2) Data as of December 31 st 81% 9% Loans and Securities (% of Total Assets) 2020 Loans (1) Securi
Slide 15: Growing and Strengthening Balance Sheet
Growing and Strengthening Balance Sheet 54.8% 60.8% 75.2% 78.1% 80.1% 81.4% 81.5% 45% 55% 65% 75% 85% 95% Loan to Asset Ratio 86.7% 90.4% 102.9% 108.3% 106.3% 105.9% 94.6% 80% 90% 100% 110% 120% Loan to Deposit Ratio 37.4% 31.4% 14.5% 13.8% 12.3% 10.8% 9.0% 5% 15% 25% 35% 45% Securities to Asset Rat
Slide 16: Asset Quality Indicators Continue to be Strong
Asset Quality Indicators Continue to be Strong 0.56% 0.45% 0.45% 0.36% 0.25% 0.30% 0.35% 0.40% 0.45% 0.50% 0.55% 0.60% Non-performing Loans/Total Loans Non-performing Assets/ Total Assets Non - performing Loans to Total Loans Non - performing Assets to Total Assets 2019 2020 (1) Data as of December
Slide 17: COVID-19 Update
COVID - 19 Update 17 At the beginning of the pandemic, the Executive Management Team immediately created a COVID - 19 Task Force to execute a pandemic response and take action to address the initial and ongoing needs of impacted customers and employees. EMPLOYEES • Focused on employee well - being,
Slide 18: COVID-19 Update: SBA Paycheck Protection Program
COVID - 19 Update 18 SBA PAYCHECK PROTECTION PROGRAM • The Company started accepting applications from current and new customers on April 6 , 2020 ; • As of March 31 , 2021 , the Company received SBA funding approval for 2 , 046 applications totaling $ 294 . 7 million ; • As of March 31 , 2021 , the
Slide 19: 1st Quarter of 2021
1 st Quarter of 2021 1Q2021 4Q2020 1Q2020 EPS $0.24 $0.20 $0.08 Earnings per Share 1Q2021 4Q2020 1Q2020 ROAA 0.98% 0.83% 0.38% Return on Average Assets Return on Average Equity 1Q2021 4Q2020 1Q2020 ROAE 10.35% 8.62% 3.62% 1Q2021 4Q2020 1Q2020 Net Interest Margin, tax - equivalent basis 3.26% 3.32% 2
Slide 20: Who We Are
Who We Are Every day, we focus on showing Westfield Bank customers “ what better banking is all about . ” For us, the idea of better banking starts with putting customers first, while adhering to our core values . Our Core Values : • Integrity • Enhance Shareholder Value • Customer Focus • Community
Slide 21: Connecticut Strategy
4 Western New England Bancorp Navdag 8: WNEB Connecticut Strategy
Slide 22: Connecticut Strategy
Connecticut Strategy 22 With the opening of the Bank’s West Hartford Financial Services Center and Bloomfield Branch in 2020 , the Bank is well - positioned with four Hartford County, Connecticut locations . Continued mergers and consolidations throughout the state have created increased demand for
Slide 23: Connecticut Strategy: West Hartford Financial Services Center
Connecticut Strategy 23 The West Hartford Financial Services Center, located in West Hartford Center, will serve as the Bank’s regional hub in Connecticut . In addition to a full - service branch, it includes a suite of offices to support Residential Lending, Commercial Lending, Business & Governmen
Slide 24: Connecticut Strategy: Bloomfield Branch
Connecticut Strategy 24 The Bloomfield branch , located in the Copaco Shopping Center, is a full - service branch and includes drive - through teller and safe deposit services . The Copaco Shopping Center is composed of national and local brands and is a major shopping destination for the greater Bl
Slide 25: Western
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Slide 26: Message on COVID-19 response and results
26 “ As an essential business in our community, over the past year, we have adapted and greatly changed the way we service our customers and support our staff . Virtually every industry has been adversely affected by the global health crisis caused by the spread of COVID - 19 . Despite the economic
Slide 27: Thank you!
Westfield Bank “What better banking’s all about” Thank you! James C. Hagan , President and Chief Executive Officer Guida R. Sajdak , Executive Vice President and Chief Financial Officer Meghan Hibner , Vice President and Investor Relations Officer 27 141 Elm Street, Westfield, MA
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