Western New England Bancorp, Inc. · NASDAQ:WNEB
Western New England Bancorp — Shareholder Meeting (May 2022)
24 slides from Western New England Bancorp's shareholder meeting presentation, May 11, 2022
Slide 1: 2022 Annual Shareholders' Meeting
1 2022 Annual Shareholders’ Meeting May 11, 2022
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 2022 Annual Shareholders' Meeting
Welcome to the Western New England Bancorp 2022 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 Name Term to Expire Position Held Director Since Lisa G. McMahon 2023 Director, Chairperson of the Board 2014 Gary G. Fitzgerald 2022 Director 2016 Paul C. Picknelly 2022 Director 2016 Laura Benoit 2023 Director 2014 Donna J. Damon 2023 Director 2011 Steven G. Richter 2023 Direc
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 Richard Schaberg, Hogan Lovells US, LLP, Legal Counsel 655 Main Stree
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: Proposals
Proposals Proposal 1: Election of Directors to serve a three - year term expiring at the 2025 annual meeting of shareholders: • Gary G. Fitzgerald • Paul C. Picknelly Proposal 2: Consideration and approval of an advisory , non - binding vote on the compensation of the Company’s named executive offic
Slide 9: Voting Results
Voting Results Paul M. Maleck Inspector of Elections 300 Southampton Road, Westfield, MA 9
Slide 10: Financial Results for Fiscal Year 2021 and the First Quarter of 2022
Financial Results for Fiscal Year 2021 and the First Quarter of 2022 Guida R. Sajdak Executive Vice President Chief Financial Officer 10
Slide 11: 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 12: 2021 Quarterly Earnings
2021 Quarterly Earnings 12 4Q2021 3Q2021 2Q2021 1Q2021 Net interest income $ 18,582 $ 18,765 $ 17,804 $ 18,026 Provision (credit) for loan losses 300 (100) (1,200) 75 Non - interest income 3,856 3,295 2,409 3,004 Non - interest expense 13,923 14,018 13,674 13,327 Income before taxes 8,215 8,142 7,73
Slide 13: Balance Sheet Composition
Balance Sheet Composition 78% 14% 7% 1% Loans and Securities (% of Total Assets) 2017 Loans Securities Other Assets Cash and Cash Equivalents Data as of December 31 st (1) Includes $25 million in Small Business Administration Paycheck Protection Program (“PPP”) Loans 73% 17% 6% 4% Loans and Securiti
Slide 14: Growing and Strengthening Balance Sheet
Growing and Strengthening Balance Sheet 78.3% 80.1% 81.4% 81.5% 73.5% 45% 55% 65% 75% 85% 95% Loan to Asset Ratio 108.1% 106.1% 105.6% 94.3% 82.6% 80% 90% 100% 110% 120% Loan to Deposit Ratio 13.9% 12.3% 10.8% 9.0% 16.9% 5% 15% 25% 35% 45% Securities to Asset Ratio 14.9% 12.6% 11.0% 2.5% 0.9% 0% 2%
Slide 15: Asset Quality Indicators Continue to be Strong
Asset Quality Indicators Continue to be Strong Data as of December 31 st (1) Excludes PPP loans 15 0.79% 1.20% 1.08% 0.00% 0.50% 1.00% 1.50% Allowance for Loan Losses to Total Loans 2019 2020 2021 142.72% 269.83% 398.60% -100.00% 100.00% 300.00% 500.00% Allowance for Loan Losses to Nonperforming Loa
Slide 16: 1st Quarter of 2022
1 st Quarter of 2022 1Q2022 4Q2021 1Q2021 EPS $0.24 $0.28 $0.24 Earnings per Share (“EPS”) 1Q2022 4Q2021 1Q2021 ROAA 0.85% 0.97% 0.98% Return on Average Assets (“ROAA”) Return on Average Equity (“ROAE”) 1Q2022 4Q2021 1Q2021 ROAE 9.65% 11.22% 10.35% 1Q2022 4Q2021 1Q2021 NIM 3.18% 3.08% 3.24% NIM, tax
Slide 17: 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 18: Connecticut Strategy
4 Western New England Bancorp Navdag 8: WNEB Connecticut Strategy
Slide 19: Connecticut Strategy
Connecticut Strategy 19 The Bank is well - positioned with four Hartford County, Connecticut locations . Continued mergers and consolidations throughout the state have created increased demand for a local, full - service, community - oriented bank, supporting the Bank’s deposit and loan growth objec
Slide 20: Connecticut Strategy
Connecticut Strategy 20 Congratulations to the West Hartford Financial Services Center team on being recognized as “Best Bank/Financial Institution” in the annual Best of West Hartford , marking two consecutive years that the Bank has earned the top spot.
Slide 21: 2021 results commentary
21 “In 2021 , the Company saw significant loan production, increased PPP fees, lower cost of funds and asset quality metrics that achieved historical lows . These results were highlighted by increases in our low - cost core deposit categories, with core deposits as a whole increasing $ 402 million,
Slide 22: Appendix
Western New England Bancorp Appendix
Slide 23: Explanation of Use of Non-GAAP Financial Measurements
Explanation of Use of Non - GAAP Financial Measurements 23 We believe that it is common practice in the banking industry to present interest income and related yield information on tax - exempt loans and securities on a tax - equivalent basis, as well as presenting tax - equivalent net interest marg
Slide 24: 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 24 141 Elm Street, Westfield, MA
Western New England Bancorp — Shareholder Meeting (May 2022) on 6ix