Winchester Bancorp (WSBK) Q2 2026 earnings summary

Executive summary

• Net income for the quarter ended December 31, 2025 was $1.1 million, up from $373,000 year-over-year, driven by higher interest and dividend income and lower deposit costs, partially offset by increased operating expenses.

• For the six months ended December 31, 2025, net income was $2.0 million, compared to a net loss of $259,000 in the prior year period, reflecting improved net interest income and lower provision for credit losses.

• Total assets grew 7.0% to $1.0 billion at December 31, 2025, primarily due to increases in loans and investment securities.

Financial highlights

• Net interest income for the quarter rose to $6.1 million from $4.0 million year-over-year; net interest margin increased to 2.51% from 1.92%.

• Provision for credit losses was $388,000 for the quarter, up from $238,000 year-over-year; allowance for credit losses on loans was $4.4 million, representing 0.55% of total loans.

• Non-interest expense increased 25% year-over-year to $4.7 million, mainly due to higher salaries, benefits, and professional services.

• Deposits increased 9.9% to $746.3 million, with significant growth in money market accounts.

• Total stockholders' equity rose to $118.2 million, up $2.9 million from June 30, 2025.

Outlook and guidance

• Management anticipates sufficient liquidity to meet funding commitments, supported by increased core deposits and access to Federal Home Loan Bank advances.

• Return on equity may remain lower in the near term due to increased equity from the recent stock offering.