Western New England Bancorp, Inc. · NASDAQ:WNEB
Western New England Bancorp — Shareholder Meeting (May 2023)
22 slides from Western New England Bancorp's shareholder meeting presentation, May 11, 2023
Slide 1: 2023 Annual Shareholders' Meeting
1 2023 Annual Shareholders’ Meeting May 11 , 2023
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 Western New England Bancorp 2023 Annual Shareholders' Meeting
Welcome to the Western New England Bancorp 2023 Annual Shareholders’ Meeting James C. Hagan President Chief Executive Officer 3
Slide 4: Board of Directors Western New England Bancorp
4 Board of Directors Western New England Bancorp
Slide 5: Board of Directors
Board of Directors 5 Director Since Position Held Term to Expire Name 2014 Director, Chairperson of the Board 2023 Lisa G. McMahon 2016 Director 2025 Gary G. Fitzgerald 2016 Director 2025 Paul C. Picknelly 2014 Director 2023 Laura Benoit 2011 Director 2023 Donna J. Damon 2011 Director 2023 Steven G.
Slide 6: Introduction of Guests
Introduction of Guests Katrina Popielarczyk, Esq. , Inspector of Elections James T. McGough, CPA, Wolf & Company, Independent Auditor Richard Quad, Griffin Financial, Investment Banker 655 Main Street, Agawam, MA 6
Slide 7: Senior Management Team
Senior Management Team 7 James C . Hagan, President & Chief Executive Officer Guida R . Sajdak, Executive Vice President, Chief Financial Officer & Treasurer Allen J . Miles III, Executive Vice President & Chief Lender Officer Kevin C . O’Connor, Executive Vice President & Chief Banking Officer Dani
Slide 8: Proposals
Proposals Proposal 1: Election of Directors to serve a three - year term expiring at the 2026 Annual Meeting of shareholders: • Laura Benoit • Donna J. Damon • Lisa G. McMahon • Steven G. Richter Proposal 2: Consideration and approval of a non - binding advisory resolution on the compensation of the
Slide 9: Voting Results
Voting Results Katrina Popielarczyk Inspector of Elections 300 Southampton Road, Westfield, MA 9
Slide 10: Financial Results for Fiscal Year 2022 and the First Quarter of 2023
Financial Results for Fiscal Year 2022 and the First Quarter of 2023 Guida R. Sajdak Executive Vice President Chief Financial Officer 10
Slide 11: Forward-Looking Statements
Forward - Looking Statements 11 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 with respect to the Company’s financial condition, liquidity , results of operations, future performance, business
Slide 12: Forward-Looking Statements
Forward - Looking Statements 12 • uncertainty about the discontinued use of LIBOR and the transition to an alternative rate ; • changes in business conditions and inflation ; • operational risks or risk management failures by us or critical third parties, including without limitation with respect to
Slide 13: 2022 Quarterly Earnings
2022 Quarterly Earnings 13 (1) Non - interest income includes a $2.8 million gain on the defined benefit curtailment. 1Q2022 2Q2022 3Q2022 4Q2022 (1) ($ in thousands , except EPS) $ 18,698 $ 19,392 $ 20,288 $ 20,854 Net interest income (425) 300 675 150 Provision (credit) for loan losses 2,348 2,741
Slide 14: Balance Sheet Composition
Balance Sheet Composition Loans , 80% Securities , 12% Other Assets , 7% Cash and Cash Equivalents , 1% Loans and Securities (% of Total Assets) 2018 Data as of December 31 st Loans 78% Securities 15% Other Assets 6% Cash and Cash Equivalents 1% Loans and Securities (% of Total Assets) 2022 25% 46%
Slide 15: Growing and Strengthening Our Balance Sheet
Growing and Strengthening Our Balance Sheet (1) 80.1% 81.4% 81.5% 73.5% 78.0% 45% 55% 65% 75% 85% 95% Loan - to - Asset Ratio 106.1% 105.6% 94.3% 82.6% 89.3% 80% 90% 100% 110% 120% Loan - to - Deposit Ratio 12.3% 10.8% 9.0% 16.9% 15.0% 5% 15% 25% 35% 45% Securities - to - Asset Ratio 12.6% 11.0% 2.5
Slide 16: Strong Asset Quality Indicators
Strong Asset Quality Indicators Data as of December 31 st (1) Excludes PPP loans 16 1.20% 1.08% 1.00% 0.90% 0.95% 1.00% 1.05% 1.10% 1.15% 1.20% 1.25% Allowance for Loan Losses to Total Loans 2020 2021 2022 270% 399% 350% 0% 100% 200% 300% 400% 500% Allowance for Loan Losses to Nonperforming Loans 20
Slide 17: First Quarter of 2023
1 st Quarter of 2023 1Q2022 4Q2022 (1) 1Q2023 $0.24 $0.42 $0.24 EPS Earnings per Share (“EPS”) 1Q2022 4Q2022 (1) 1Q2023 0.85% 1.40% 0.84% ROAA Return on Average Assets (“ROAA”) Return on Average Equity (“ROAE”) 1Q2022 4Q2022 (1) 1Q2023 9.65% 16.67% 9.31% ROAE 1Q2022 4Q2022 1Q2023 3.18% 3.44% 3.14% N
Slide 18: 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 19: Connecticut Strategy
Connecticut Strategy 19 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 three consecutive years that the Bank has earned the top spot.
Slide 20: Appendix
Western New England Bancorp NasdagGs: WNEB Appendix
Slide 21: Explanation of Use of Non-GAAP Financial Measurements
Explanation of Use of Non - GAAP Financial Measurements 21 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 22: 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 , First Vice President and Investor Relations Officer 22 141 Elm Street, Westfield, MA
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