WESTFIELD, Mass. (AP) _ Western New England Bancorp (WNEB) on Tuesday reported first-quarter net income of $2.1 million.
The Westfield, Massachusetts-based bank said it had earnings of 8 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The bank holding company posted revenue of $22.9 million in the period. Its revenue net of interest expense was $17.1 million, also falling short of Street forecasts.
Western New England Bancorp shares have decreased 39% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.92, a decrease of 36% in the last 12 months.