WSBK 8-K

Winchester Bancorp, Inc./MD/ (WSBK)

8-K 2026-01-28 For: 2026-01-28

View Original

Added on April 10, 2026


Maryland	001-42627	33-3361275
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

661 Main Street
Winchester, Massachusetts		01890
(Address of Principal Executive Offices)		(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	WSBK	The Nasdaq Stock Market


	Winchester Bancorp, Inc.

Date: January 28, 2026	By:	/s/ John A. Carroll
		John A. Carroll
		President and Chief Executive Officer


	December 31,			June 30,
	2025			2025
Assets
Cash and due from banks	$	1,068		$	7,513
Interest-bearing deposits		53,717			47,731
Total cash and cash equivalents		54,785			55,244
Securities available for sale, at fair value		63,854			47,299
Securities held to maturity, at amortized cost		58,893			57,211
Federal Home Loan Bank stock, at cost		6,161			6,278
Loans, net of allowance for credit losses of $4,396 at December 31, 2025 and $4,151 at June 30, 2025		800,153			751,220
Bank owned life insurance		11,163			10,925
Premises and equipment, net		5,927			6,418
Accrued interest receivable		3,626			3,327
Net deferred tax asset		994			1,212
Other assets		10,414			10,244
	$	1,015,970		$	949,378
Liabilities and stockholders' equity
Non-interest-bearing deposits	$	64,377		$	55,696
Interest-bearing deposits		681,946			623,486
Federal Home Loan Bank advances		143,596			147,000
Mortgagors’ escrow accounts		1,987			1,756
Accrued expenses and other liabilities		5,817			6,088
Total liabilities		897,723			834,026
Commitments and contingencies
Preferred stock, $.01 par value, 5,000,000 shares authorized, none outstanding		—			—
Common stock, $.01 par value, 20,000,000 shares authorized, 9,295,376 issued and outstanding as of December 31, 2025 and June 30, 2025		93			93
Additional paid-in capital		39,564			39,571
Unearned compensation (ESOP)		(3,238	)		(3,346	)
Retained earnings		82,756			80,720
Accumulated other comprehensive loss		(928	)		(1,686	)
Total stockholders' equity		118,247			115,352
Total liabilities and stockholders' equity	$	1,015,970		$	949,378


	Three months ended				Six months ended
	December 31,				December 31,
	2025		2024		2025			2024
	(In thousands, except share data)
Interest and dividend income:
Interest and fees on loans	$	10,702	$	9,245	$	21,104		$	18,260
Interest and dividends on securities		1,167		755		2,280			1,521
Interest on federal funds sold and other interest-bearing deposits		545		507		967			956
Total interest and dividend income		12,414		10,507		24,351			20,737
Interest expense:
Interest on deposits		4,876		4,942		9,546			9,951
Interest on Federal Home Loan Bank advances		1,475		1,534		3,000			2,988
Total interest expense		6,351		6,476		12,546			12,939
Net interest income		6,063		4,031		11,805			7,798
Provision for credit losses		388		238		68			1,400
Net interest income, after provision for credit losses		5,675		3,793		11,737			6,398
Non-interest income:
Customer service fees		191		180		382			368
Income on bank owned life insurance		119		118		238			235
Loss on available for sale securities, net		—		—		(317	)		—
Gain on marketable equity securities, net		—		52		—			223
Gain on sale of loans		8		—		—			—
Miscellaneous		64		38		130			63
Total non-interest income		382		388		433			889
Non-interest expense:
Salaries and employee benefits		2,621		2,174		5,390			5,159
Occupancy and equipment, net		513		413		909			790
Data processing		381		305		789			652
Deposit insurance		160		207		370			428
Marketing and advertising		144		96		328			192
Net periodic pension and post retirement benefit, less service costs		—		—		(73	)		(723	)
Other general and administrative		888		572		1,789			1,205
Total non-interest expense		4,707		3,767		9,502			7,703
Income (loss) before income taxes		1,350		414		2,668			(416	)
Provision (benefit) for income taxes		276		41		632			(157	)
Net income (loss)	$	1,074	$	373	$	2,036		$	(259	)
Share Data:
Average common shares outstanding, basic and diluted		8,969,031	N/A			8,966,962		N/A
Basic and diluted net income per share	$	0.12	N/A		$	0.23		N/A

WSBK 8-K

FORM 8-K

Item 2.02 Results of Operations and Financial Condition.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1 Press Release dated January 28, 2026


	For the Three Months Ended
	December 31, 2025								December 31, 2024
	Average Outstanding Balance			Interest		Average Yield/Rate (1)			Average Outstanding Balance			Interest		Average Yield/Rate (1)
	(Dollars in thousands)
Interest-earning assets:
Loans	$	797,381		$	10,702		5.37	%	$	716,262		$	9,245		5.16	%
Securities		116,650			1,167		4.00	%		86,642			755		3.49	%
Federal funds sold and other interest-bearing deposits		50,655			545		4.30	%		38,698			507		5.24	%
Total interest-earning assets		964,686			12,414		5.15	%		841,602			10,507		4.99	%
Non-interest-earning assets		41,157								29,012
Allowance for credit losses on loans		(4,491	)							(3,467	)
Total assets	$	1,001,352							$	867,147
Interest-bearing liabilities:
NOW and demand deposits	$	56,162			4		0.03	%	$	52,110			4		0.03	%
Savings accounts		152,166			793		2.09	%		162,074			969		2.39	%
Money market accounts		187,702			1,534		3.27	%		98,441			823		3.34	%
Certificates of deposit		271,860			2,545		3.74	%		288,580			3,146		4.36	%
Total interest-bearing deposits		667,890			4,876		2.92	%		601,205			4,942		3.29	%
Borrowings		140,125			1,475		4.21	%		137,205			1,534		4.47	%
Total interest-bearing liabilities		808,015			6,351		3.14	%		738,410			6,476		3.51	%
Other non-interest-bearing liabilities		75,406								48,073
Total liabilities		883,421								786,483
Stockholders' equity		117,931								80,664
Total liabilities and stockholders' equity	$	1,001,352							$	867,147
Net interest income				$	6,063							$	4,031
Net interest rate spread (2)							2.01	%							1.48	%
Net interest-earning assets (3)	$	156,671							$	103,192
Net interest margin (4)							2.51	%							1.92	%
Average interest-earning assets to average interest-bearing liabilities		119.39	%							113.97	%

(1) Annualized.
(2) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities.
(3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.
(4) Net interest margin represents net interest income divided by average total interest-earning assets.