Apr. 23 at 8:25 PM
$WNEB Western New England Bancorp reports Q1 EPS 14c, consensus 12c
Reports: on a sequential quarter basis, net interest income, "our primary source of revenues, decreased
$830,000, or 5.1%, from
$16.2M for the three months ended December 31 to
$15.3 M The decrease in net interest income was primarily the result of the interest rate paid on interest-bearing liabilities outpacing the increase in the yield on interest-earning assets. Interest expense increased
$664,000, or 6.3%, while interest income decreased
$166,000, or 0.6%. The increase in interest expense was a result of the higher cost of interest-bearing liabilities as well as the unfavorable shift in the deposit mix from low cost core deposits to high cost time deposits," noted management...
