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Winchester Bancorp, Inc./MD/
WSBKCIK 0002047235NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthSavings Institutions, Not Federally CharteredMarylandFY ends Jun 30
Period
FY 2025
Revenue
—
Net Income
$-874.0K
Total Assets
$949.38M
Equity
$115.35M
Shares Out
9.30M
Op. Cash Flow
$2.46M
Business
Winchester Bancorp, Inc. is a Maryland bank holding company that serves as the parent of Winchester Savings Bank and related subsidiaries. The company provides traditional banking products and services including deposit accounts, one- to four-family residential mortgages, multi-family and commercial real estate loans, construction loans, home equity loans and consumer and commercial lending, along with investment securities activities. Key operating entities include Winchester Bancorp, MHC (the mutual holding company), Winchester Bancorp, Inc. (the public holding company), Winchester Savings Bank and various real estate and investment subsidiaries. The company distributes its products through its main office and four full-service branches in eastern Massachusetts, principally serving Middlesex and Essex Counties and surrounding areas.
Summary from filing dated 2025-09-17
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 |
|---|---|---|---|
| Interest and fees on loans | 38 | 31 | |
| Interest and dividends on securities | 3 | 2 | |
| Interest on federal funds sold and other interest-bearing deposits | 2 | 2 | |
| Total interest and dividend income | 43 | 35 | |
| Interest on deposits | 19 | 16 | |
| Interest on Federal Home Loan Bank advances | 6 | 5 | |
| Total interest expense | 25 | 20 | |
| Net interest income | 18 | 14 | |
| Provision for credit losses | 2 | 514,000 | |
| Net interest income, after provision for credit losses | 15 | 14 | |
| Customer service fees | 728,000 | 683,000 | |
| Income on bank owned life insurance | 466,000 | 315,000 | |
| Loss on available for sale securities, net | — | −33,000 | |
| Gain on marketable equity securities, net | 374,000 | 378,000 | |
| Gain on sale of fixed assets | — | 314,000 | |
| Miscellaneous | 224,000 | 122,000 | |
| Total non-interest income | 2 | 2 | |
| Salaries and employee benefits | 10 | 10 | |
| Occupancy and equipment, net | 2 | 2 | |
| Data processing | 1 | 1 | |
| Deposit insurance | 848,000 | 472,000 | |
| Marketing and advertising | 462,000 | 376,000 | |
| Net periodic pension and post retirement benefit, less service costs | −73,000 | −723,000 | |
| Other general and administrative | 5 | 3 | |
| Total non-interest expenses | 19 | 15 | |
| (Loss) income before income taxes | −2 | 754,000 | |
| Benefit for income taxes | −656,000 | −32,000 | |
| Net (loss) income | −874,000 | 786,000 | |
| Average common shares outstanding, basic | 9 | — | |
| Average common shares outstanding, diluted | 9 | — | |
| Net loss per share, basic | −0.09 | — | |
| Net loss per share, diluted | −0.09 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 |
|---|---|---|---|---|
| Cash and due from banks | 8 | 3 | — | |
| Interest-bearing deposits | 48 | 41 | — | |
| Total cash and cash equivalents | 55 | 44 | — | |
| Securities available for sale, at fair value | 47 | 31 | — | |
| Marketable equity securities, at fair value | — | 2 | — | |
| Securities held to maturity, at amortized cost | 57 | 56 | — | |
| Federal Home Loan Bank stock, at cost | 6 | 6 | — | |
| Loans, net of allowance for credit losses of $4,151 at June 30, 2025 and $3,451 at June 30, 2024 | 751 | 682 | — | |
| Bank owned life insurance | 11 | 10 | — | |
| Premises and equipment, net | 6 | 7 | — | |
| Accrued interest receivable | 3 | 3 | — | |
| Net deferred tax asset | 1 | — | — | |
| Other assets | 10 | 12 | — | |
| Total assets | 949 | 853 | — | |
| Non-interest-bearing deposits | 56 | 52 | — | |
| Interest-bearing deposits | 623 | 583 | — | |
| Federal Home Loan Bank advances | 147 | 129 | — | |
| Mortgagors' escrow accounts | 2 | 2 | — | |
| Net deferred tax liability | — | 70,000 | — | |
| Accrued expenses and other liabilities | 6 | 6 | — | |
| Total liabilities | 834 | 773 | — | |
| Commitments and contigencies | — | — | — | |
| Preferred stock, $.01 par value, 5,000,000 shares authorized, none outstanding | 0 | — | — | |
| Common stock, $.01 par value, 20,000,000 shares authorized, 9,295,376 issued and outstanding as of June 30, 2025, none issued and outstanding as of June 30, 2024 | 93,000 | — | — | |
| Additional paid-in capital | 40 | — | — | |
| Unearned compensation (ESOP) 334,633 unallocated shares at June 30, 2025 | −3 | — | — | |
| Retained earnings | 81 | 82 | — | |
| Accumulated other comprehensive loss | −2 | −2 | — | |
| Total stockholders' equity | 115 | 80 | 77 | |
| Total liabilities and stockholders' equity | 949 | 853 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 |
|---|---|---|---|
| Net amortization of securities | 360,000 | 410,000 | |
| Depreciation and amortization | 847,000 | 750,000 | |
| Increase in cash surrender value of bank owned life insurance | −466,000 | −315,000 | |
| Accretion of net deferred loan origination fees | −86,000 | −117,000 | |
| Losses on debt securities, net | — | 33,000 | |
| Gain on marketable equity securities, net | −374,000 | −378,000 | |
| Contribution of stock to charitable foundation | 2 | — | |
| Deferred tax benefit | −1 | −159,000 | |
| Loans originated for sale | — | −651,000 | |
| Principal balance of loans sold | — | −651,000 | |
| Accrued interest receivable | −162,000 | −907,000 | |
| Other assets | 2 | −3 | |
| Accrued expenses and other liabilities | −1 | 3 | |
| Net cash provided by operating activities | 2 | 231,000 | |
| Maturities, calls and prepayments | 16 | 3 | |
| Sales | 2 | 2 | |
| Purchases | −31 | −9 | |
| Maturities, calls and prepayments | 13 | 6 | |
| Purchases | −15 | −17 | |
| Purchase of bank-owned life insurance | — | −4 | |
| Purchase of Federal Home Loan Bank stock | −515,000 | −2 | |
| Loan originations, net of principal payments | −71 | −83 | |
| Purchase of premises and equipment, net | −284,000 | −1 | |
| Net cash used by investing activities | −87 | −105 | |
| Net increase in deposits | 44 | 59 | |
| Net change in short-term Federal Home Loan Bank advances | 14 | −3 | |
| Proceeds from long-term Federal Home Loan Bank advances | 17 | 190 | |
| Repayment of long-term Federal Home Loan Bank advances | −13 | −149 | |
| Net proceeds from stock offering and issuance of common shares | 38 | — | |
| Purchase of common shares by the ESOP | −3 | — | |
| Contribution of cash to the MHC | −500,000 | — | |
| Net increase in mortgagors' escrow accounts | 114,000 | 84,000 | |
| Net cash provided by financing activities | 95 | 97 | |
| Net change in cash and cash equivalents | 11 | −8 | |
| Interest paid on deposits | 19 | 16 | |
| Interest paid on Federal Home Loan Bank advances | 6 | 4 | |
| Income taxes paid, net of (refunds) | −439,000 | −478,000 |
Filings
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