Western New England Bancorp, Inc 8-K, filed Oct 19, 2020
Western New England Bancorp, Inc. (WNEB)
About this 8-K
Western New England Bancorp, Inc filed this 8-K on October 19, 2020, reporting on events of October 15, 2020.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01. | Other Events. |
On October 19, 2020, Western New England Bancorp, Inc. (the “Company”), the holding company for Westfield Bank, announced the completion of the Company’s stock repurchase program on October 15, 2020, previously announced on January 29, 2019 (the “2019 Plan”). The 2019 Plan authorized the Company to repurchase a total of 2,814,200 shares, or approximately 10% of the Company’s outstanding shares.
Item 9.01.
Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits.
The exhibits required by this item are set forth on the Exhibit Index attached hereto.
Exhibit Number |
Description | |
| 99.1 | Press Release dated October 19, 2020 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| WESTERN NEW ENGLAND BANCORP, INC. | ||
| Date: October 19, 2020 | By: | /s/ Guida R. Sajdak |
| Guida R. Sajdak | ||
| Chief Financial Officer | ||
Western New England Bancorp, Inc. 8-K
Exhibit 99.1
Western New England Bancorp, Inc. Announces
Completion of 2019 Repurchase Plan
Westfield, Massachusetts, October 19, 2020: Western New England Bancorp, Inc. (the “Company” or “WNEB”) (NasdaqGS: WNEB), the holding company for Westfield Bank (the “Bank”), announced that the Company completed its current stock repurchase program on October 15, 2020 (the “2019 Plan”), which was announced on January 29, 2019.
The Company repurchased a total of 2.8 million shares, or approximately 10% of its outstanding common stock, in connection with the 2019 Plan.
“We are pleased to announce the completion of the 2019 Plan. The Board of Directors and management continue to believe that repurchases of the Company’s shares are an attractive opportunity and demonstrate our commitment to enhancing shareholder value,” said James Hagan, President and Chief Executive Officer.
About Western New England Bancorp, Inc.
Western New England Bancorp, Inc. is a Massachusetts-chartered stock holding company and the parent company of Westfield Bank, CSB Colts, Inc., Elm Street Securities Corporation, WFD Securities, Inc. and WB Real Estate Holdings, LLC. Western New England Bancorp, Inc. and its subsidiaries are headquartered in Westfield, Massachusetts and operate 25 banking offices throughout western Massachusetts and northern Connecticut. To learn more, visit our website at www.westfieldbank.com.
Forward-Looking Statements
This press release contains statements that are forward-looking and are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on any such forward-looking statements contained in this press release, which speak only as of the date made. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed under the caption “Risk Factors” in Western New England Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2019 and in its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020 and June 30, 2020. Western New England Bancorp does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
For
further information contact:
James C. Hagan, President and CEO
Guida R. Sajdak, Executive Vice President and CFO
Meghan Hibner, Vice President and Investor Relations Officer
413-568-1911