Western New England Bancorp, Inc. · NASDAQ:WNEB
Western New England Bancorp — Westfield Financial — Shareholder Meeting (May 2011)
21 slides from Western New England Bancorp's shareholder meeting presentation, May 19, 2011
Slide 1: Westfield Financial, Inc. Annual Meeting of Shareholders May 19, 2011
WESTFIELD FINANCIAL, INC. ANNUAL MEETING OF SHAREHOLDERS MAY 19, 2011
Slide 2: Forward-Looking Statements
FORWARD – LOOKING STATEMENTS Today’s presentation may contain “forward-looking statements” which may be identified by the use of such words as “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” and “potential.” Examples of forward-looking statements include, but are not limited to,
Slide 3: Highlights and Achievements
Highlights and Achievements James C. Hagan, President and Chief Executive Officer
Slide 4: Highlights
HIGHLIGHTS Very well capitalized. Tier 1 Capital ratio of 17.32%. We continue to have some of the highest capital ratios in Massachusetts Deposits surpassed $700 million, with an increase of $46 million for the twelve months ended March 31, 2011. Total loans have reached $518 million, representing 1
Slide 5: Consumer & Business Banking
CONSUMER & BUSINESS BANKING Redefined Product Set for Relationship Banking: Benefits customers who do more business with Westfield Bank. Enhanced business development skills of Branch Managers: Business Banking Calling Programs Introduced Bank @ Work program Enhanced the bank-at-college program Resu
Slide 6: Commitment to Community
COMMITMENT TO COMMUNITY In 2010, Westfield Bank donated $278,000 through our Future Funds Program We encourage and support employee involvement in community service activities.
Slide 7: Accessibility & Convenience
ACCESSIBILITY & CONVENIENCE Enhanced electronic banking capabilities including mobile banking and financial management tools. Added payroll and online merchant service processing options for small businesses. Extended branch hours & added coin counting machines.
Slide 8: ATM Network Expansion
ATM NETWORK EXPANSION College Highway Southwick Holyoke Crossing, near Holyoke Mall Westfield State University 3 Machines
Slide 9: Selected Financial Highlights
SELECTED FINANCIAL HIGHLIGHTS Leo R. Sagan Jr., Chief Financial Officer
Slide 10: Solid Performance Despite a Slow Economy
SOLID PERFORMANCE DESPITE A SLOW ECONOMY Continue to generate positive earnings: 2010 Net Income of $3.0 million 2010 Earnings per share of $0.11 1st Q 2011 Net Income of $1.3 million 1st Q 2011 Earnings per share of $0.05 Credit Quality remains strong: Nonperforming loans of 0.75%
Slide 11: Role of Bank Capital
ROLE OF BANK CAPITAL Promotes bank safety and soundness Act as a cushion to absorb unexpected operating losses Provides protection to depositors Minimum to be “Well Capitalized” under OTS Guidelines: Tier 1 Capital: March 31, 2011 Ratio Amount OTS Minimum 4.00 % $ 50 million Westfield Bank 17.32 % $
Slide 12: Capital Management
CAPITAL MANAGEMENT Possible uses of capital: Pay dividends to shareholders Repurchase shares of our common stock Fund organic growth or leverage the balance sheet Finance acquisitions of other financial institutions or other businesses related to banking
Slide 13: Dividends
DIVIDENDS Wall St Journal reported that nearly 300 banks reduced or discontinued dividends since 2008, saving the industry nearly $100 billion in shareholder payouts.* Westfield Financial did not eliminate or reduce its dividend during the financial crisis. In fact, our Board voted to increase the r
Slide 14: Dividends to Shareholders
DIVIDENDS TO SHAREHOLDERS 2011* 2010 2009 Regular $0.06 $0.22 $0.20 Special 0.15 0.30 0.30 Total $0.21 $0.52 $0.50 * Includes dividends declared through April 26, 2011
Slide 15: Stock Repurchase Plan
STOCK REPURCHASE PLAN On May 25, 2010 the Board of Directors authorized a second repurchase for up to 2.9 million shares (10% of our outstanding shares). There were 1.5 million shares purchased under this plan as of March 31, 2011.
Slide 16: Total Assets
TOTAL ASSETS 997 1,040 1,109 1,191 1,239 1,241 $700 $800 $900 $1,000 $1,100 $1,200 $1,300 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Mar-11 Million
Slide 17: Net Loan Portfolio
NET LOAN PORTFOLIO 385 415 472 469 502 518 $300 $350 $400 $450 $500 $550 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Mar-11 Millions
Slide 18: Total Deposits
TOTAL DEPOSITS In 2007 and 2008 management placed less emphasis on gathering time deposits in favor of lower cost alternative funding $720 $690 $660 $630 $600 $570 Millions 627 603 588 648 700 705 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Mar-1
Slide 19: Total Return Performance
TOTAL RETURN PERFORMANCE 25 50 75 100 125 150 175 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10 Index Value Westfield Financial, Inc. Russell 2000 NASDAQ Bank
Slide 20: Westfield Financial Total Return
Wer WESTFIELD Westfield Financial, Inc. - Total Return (%) wero (10.71%) 29 SNL US. Tht (26.07%) ‘Thousands Apr ul ‘ost zoe 20082008 on 2010 an aot Apr 2011 Source: SNL Financial, Ine,
Slide 21: Thank You
Thank You