Winchester Bancorp (WSBK) Q1 2026 earnings summary

Executive summary

• Net income for the quarter ended March 31, 2026 was $1.1 million ($0.13 per share), up 275.4% year-over-year; nine-month net income was $3.2 million ($0.36 per share), up from $46,000 year-over-year.

• Net income for the quarter ended September 30, 2025 was $962,000, reversing a net loss of $632,000 in the same quarter last year.

• Strong loan and deposit growth, with loans up $89.3 million (11.9%) and deposits up $104.5 million (15.4%) since June 30, 2025.

• Net interest margin expanded by 52 basis points year-over-year to 2.54%; efficiency ratio improved to 72.7% from 92.5%.

• Expansion of branch network with a new location in Wakefield, MA.

Financial highlights

• Net interest income for the quarter was $6.3 million, up 44.0% year-over-year.

• Interest and dividend income rose 16.7% year-over-year to $11.9 million, with loan interest up 15.4%.

• Non-interest income was $367,000, up from $299,000 year-over-year.

• Non-interest expense increased 12.1% to $4.8 million, mainly due to higher reserves and increased salaries and benefits.

• Total assets reached $1.06 billion, up 11.3% from June 30, 2025.

Outlook and guidance

• Management anticipates significant loan payoffs in the fourth quarter and continues to prioritize loan portfolio growth.

• Optimism expressed regarding the trajectory of the strategic plan as the company enters its second year as a public entity.

• Management anticipates sufficient liquidity to support loan growth, with strong capital and funding sources.

• Return on equity may remain lower in the near term as proceeds from the recent stock offering are deployed.