Customer Success Story: Western New England Bancorp
Western New England Bancorp, Inc. (“WNEB”), headquartered in Westfield, Massachusetts, is the Massachusetts-chartered stock holding company for Westfield Bank (“Westfield” or the “Bank”), a federally charted savings bank organized in 1853. Westfield is a full-service, community-oriented financial institution offering a full range of commercial and retail products and services as well as wealth management financial products.
Meghan Hibner, Vice President, Controller & Investor Relations Officer at WNEB is responsible for managing the investor relations program including tracking of all their investor relations activity and reporting on changes in their shareholder base.
Areas of Focus
To date, most of WNEB's investor relations activity was tracked in a spreadsheet that was difficult to maintain and build reports from. WNEB was looking for a more streamlined and centralized solution that would integrate their surveillance data and provide more advanced reporting capabilities.
1. Investor Targeting
Before utilizing Irwin, WNEB's in-house ability to target appropriate small-cap investors was limited, given the resources they had at their disposal.
2. Organizing Their IR Program
WNEB had previously been logging their IR data in a spreadsheet, which made reporting on the success of their IR program difficult. While their IR efforts were effective, Meghan recognized the need to prioritize organization and understood the benefit of hosting all their data in one central CRM.
3. Leveraging Surveillance Data
Prior to implementing Irwin, Meghan had already engaged a surveillance provider to better understand WNEB's shareholder base, but was unable to effectively measure the changes in their surveillance reports over time.
Benefits of Irwin
Irwin has become an integral part of WNEB's investor relations program, resulting in several benefits for the company.
When they started using Irwin, not only were they able to target the right investors for their company, they were also able to better manage all their IR data and the impact of their IR program as a whole.
#1. Investor Targeting Capabilities
"Irwin's investor targeting is very easy to use and effective. It makes accessing lists of qualified investors simple, and allows us to find new investors who are actively investing in companies like ours."
#2. Reporting Functionality
"Now that we have Irwin running, reporting is much easier, and everything we want is readily available at the click of a button. All of our surveillance and contact data is integrated into one place."
#3. Customer Service
"The customer service is great. We work directly with the customer service team at Irwin quite regularly. They are always there to support us with needs we may have when it comes to searching for investors."
Irwin's integrated suite of investor targeting, monitoring, and CRM capabilities allow us to better manage our investor relations program. I would recommend Irwin to any bank looking to take a more active approach to investor relations.
VP, Controller & Investor Relations Officer
Western New England Bancorp