Western New England Bancorp, Inc. · NASDAQ:WNEB
Western New England Bancorp — Westfield Financial — Shareholder Meeting (May 2008)
21 slides from Western New England Bancorp's shareholder meeting presentation, May 22, 2008
Slide 1: Annual Meeting of Shareholders
Annual Meeting of Shareholders May 22, 2008 Exhibit 99.1
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: Community Banking Redefined
C O M M U N I T Y B A N K I N G R E D E F I N E D James C. Hagan, President and Chief Operating Officer
Slide 4: Overview
Overview • Headquartered in Westfield, MA • 11 branch offices located throughout Hampden County • Strategic Focus is Commercial & Industrial Relationships • Westfield Bank has not conducted any subprime lending programs
Slide 5: 2007 Milestones
2007 Milestones • Posted record earnings of $8.7 million. • Total assets exceeded $1 billion. • Commercial loan portfolio surpassed $300 million. • New branch opened in June 2007, which is open seven days a week. • Switched to NASDAQ stock exchange in August 2007.
Slide 6: Commercial and Industrial Relationships
• Commercial and Industrial Relationships (C & I) • Non-Real Estate • Owner-Occupied Commercial Real Estate • $5 million - $15 million niche for “ mid-sized businesses ” • WB has developed the capital, expertise, culture, & reputation to support business development. Strategic Focus
Slide 7: Westfield Financial, Inc. Selected Financial Highlights
WESTFIELD FINANCIAL, INC. SELECTED FINANCIAL HIGHLIGHTS Leo R. Sagan Jr., Vice President and Controller
Slide 8: 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 9: Dividends Paid to Shareholders
Dividends Paid to Shareholders 2008 Regular Dividends $ 0.10 Special Dividends 0.15 Year-to-Date 2008 $ 0.25 2007 Regular Dividends $ 0.20 Special Dividends 0.20 Calendar Year 2007 $ 0.40
Slide 10: Stock Repurchase Plan
Stock Repurchase Plan On January 22, 2008 the Board of Directors approved a 10% stock repurchase plan. As of May 8, 2008 Westfield Financial had net repurchases of 252,453 shares.
Slide 11: Total Assets
Total Assets 1,039 1,083 $700 $800 $900 $1,000 $1,100 $1,200 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Mar-08
Slide 12: Stockholders' Equity / Total Assets Ratio
Stockholders’ Equity / Total Assets Ratio
Slide 13: Total Loan Portfolio
Total Loan Portfolio March 2008 (dollars in millions)
Slide 14: Commercial & Industrial Loans
Commercial & Industrial Loans
Slide 15: Commercial Real Estate Loans
Commercial Real Estate Loans
Slide 16: Nonperforming Loans
Nonperforming Loans 3.0 1.2 1.0 1.9 2.2 1.8 $0 $1 $2 $3 $4 $5 $6 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Mar-08
Slide 17: Total Deposits and Customer Repurchase Agreements
Total Deposits and Customer Repurchase Agreements
Slide 18: Net Income (Millions)
Millions 8.7 6.3 6.2 6.0 | , 4.7 $4.0 5 37 ™ | i | $0.0 | Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Mar-08
Slide 19: Diluted Earnings Per Share
Diluted Earnings Per Share 0.11 0.20 0.20 0.15 0.29 0.06 $0.00 $0.05 $0.10 $0.15 $0.20 $0.25 $0.30 $0.35 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Mar-08
Slide 20: Stock Performance Index Value
WESTFIELD Index Value 12/31/02 12/31/03 12/31/04 12/31/05 12/31/06 12/31/07 =-@Westfield Financial, Inc. -@Russell2000 -teNASDAQ Bank
Slide 21: Thank You
WESTFIELD FINANCIAL, INC Thank You