Winchester Bancorp earns $1.27M in September 2026 quarter
The results begin a six-month transition period after the company changed its fiscal year-end from June 30 to December 31.
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Rhea-AI Filing Summary
Winchester Bancorp, Inc. reported net income of $1.268 million, or $0.14 per share, for the quarter ended September 30, 2026, versus $962,000, or $0.11 per share, a year earlier. Net interest income was $7.188 million, up 25.2% from $5.741 million, and net interest margin was 2.67%, compared with 2.49%. Non-interest expense rose 17.1% to $5.616 million. Non-interest income was $498,000, compared with $52,000; the earlier quarter included a one-time loss on available-for-sale securities.
At September 30, 2026, total assets were $1,141.186 million, deposits were $862.7 million and net loans were $908.7 million. Deposits increased $53.4 million, or 6.6%, and net loans increased $37.9 million, or 4.4%, from June 30, 2026. The allowance for credit losses was $5.133 million, equal to 0.56% of gross loans; non-performing assets were $1.9 million, or 0.17% of assets. The company changed its fiscal year-end from June 30 to December 31; July 1 through December 31, 2026 is a six-month transition period to be covered by a Transition Report on Form 10-KT.
Positive
- Minor pointYear-over-year net income increased $306,000.
Negative
- None.
Filing Explained
In the quarter ended September 30, 2026, municipal customer deposits grew
8-K Event Classification
Key Figures
Key Terms
net interest margin financial
efficiency ratio financial
allowance for credit losses financial
non-performing assets financial
available for sale securities financial
Earnings Snapshot
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What was WSBK’s net income in the September 2026 quarter?
How did WSBK’s deposits and loans change?
Why is Winchester Bancorp reporting a six-month transition period?
How did WSBK’s asset quality compare with the prior year?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02 Results of Operations and Financial Condition.
On October 28, 2026, Winchester Bancorp, Inc., the holding company for Winchester Savings Bank, issued a press release reporting its financial results for the quarter ended September 30, 2026, the first quarter of the six-month transition period ending December 31, 2026. As previously announced on July 30, 2026, the Board of Directors approved a change in the Company's fiscal year end from June 30 to December 31. The transition period of July 1, 2026 to December 31, 2026 will be covered on a Transition Report Form 10-KT.
A copy of the press release announcing the results is included as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press Release dated October 28, 2026
104.1 Cover Page Interactive Data file (embedded within the inline XBRL Document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Winchester Bancorp, Inc. |
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Date: October 28, 2026 |
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By: |
/s/ John A. Carroll |
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John A. Carroll |
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President and Chief Executive Officer |
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Exhibit 99.1
Winchester Bancorp, Inc.
Announces Results for the Quarter Ended September 30, 2026
Investor Contact
John A. Carroll
President and Chief Executive Officer
IR@WinchesterSavings.com
(781) 729-2130
WINCHESTER, MA, October 28, 2026 - Winchester Bancorp, Inc. (the "Company"), the holding company for Winchester Savings Bank (the "Bank"), today announced its financial results for the quarter ended September 30, 2026, the first quarter of the six-month transition period ending December 31, 2026. The Company reported net income of $1.3 million, or $0.14 per common share, as compared to net income of $1.2 million for the quarter ended June 30, 2026, an increase of $29,000 in net income. Net income for the quarter ended September 30, 2025, was $1.0 million, making the year over year increase $306,000.
“We continue to build on the momentum we established in our first year as a public company,” said John A. Carroll, President and Chief Executive Officer. “Deposit growth continued to lead the way, increasing $53.4 million, or 6.6%, during the quarter, which allowed us to fund net loan growth of $37.9 million, or 4.4%. Total assets grew $44.9 million, or 4.1%, to $1.14 billion. Profitability also continued to improve, with net interest margin expanding to 2.67% from 2.49% and our efficiency ratio improving to 73.1% from 82.8%, both compared to the three months ended September 30, 2025. We remain focused on disciplined growth and on continuing to build value for our shareholders”, Carroll added.
BALANCE SHEET
Total assets were $1.14 billion at September 30, 2026, representing an increase of $45.3 million, or 4.1%, from June 30, 2026.
NET INTEREST INCOME
Net interest income was $7.2 million for the quarter ended September 30, 2026, compared to $5.7 million for the quarter ended September 30, 2025, representing an increase of $1.4 million, or 25.2%. Net interest margin expanded by 18 basis points to 2.67% for the quarter ended September 30, 2026 compared to 2.49% for the quarter ended September 30, 2025.
NON-INTEREST INCOME
Non-interest income was $498,000 for the quarter ended September 30, 2026, compared to $52,000 for the quarter ended September 30, 2025. Non-interest income for the quarter ended September 30, 2025 includes a one-time loss on the available for sale securities.
NON-INTEREST EXPENSE
Non-interest expense was $5.6 million for the quarter ended September 30, 2026, representing an increase of $821,000, or 17.1%, from the quarter ended September 30, 2025 due to increases in salaries and employee benefits, marketing and data processing expense and general and administrative expenses.
ASSET QUALITY
Asset quality remains strong. The allowance for credit losses on loans in total and as a percentage of total gross loans as of September 30, 2026 was $5.1 million and 0.56%, compared to $4.4 million and 0.55% as of September 30, 2025.
ABOUT WINCHESTER BANCORP, INC.
Winchester Bancorp, Inc. is the mid-tier holding company of Winchester Savings Bank and is the majority owned subsidiary of Winchester Bancorp, MHC. Winchester Savings Bank's mission is to operate and grow a profitable community-oriented financial institution that is dedicated to meeting the banking needs of individuals and small businesses in the communities in which it operates.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company may also make forward-looking statements in other documents it files with the Securities and Exchange Commission ("SEC"), in our annual reports to shareholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward looking statements by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “outlook,” “will,” “should,” and other expressions that predict or indicate future events and trends and which do not relate to historical matters, including statements regarding the Company’s business, credit quality, financial condition, liquidity and results of operations. Forward-looking statements may differ, possibly materially, from what is included in this press release due to factors and future developments that are uncertain and beyond the scope of the Company’s control. These include, but are not limited to, changes in interest rates; general economic conditions (including the impact of ongoing armed conflicts, tariffs, inflation, and concerns about liquidity) on a national basis or in the local markets in which the Company operates; ongoing turbulence in the capital and
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debt markets; competitive pressures from other financial institutions; changes in consumer behavior due to changing political, business and economic conditions, or legislative or regulatory initiatives; increases in loan and lease default and charge-off rates; the adequacy of allowances for loan and lease losses; decreases in deposit levels that necessitate increases in borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity incidents, fraud, natural disasters, and future pandemics; changes in regulation; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions and adverse economic developments; and changes in assumptions used in making such forward-looking statements. Forward-looking statements involve risks and uncertainties which are difficult to predict. The Company’s actual results could differ materially from those projected in the forward-looking statements as a result of, among others, the risks outlined in the Company’s Annual Report on Form 10-K, as updated by its Quarterly Reports on Form 10-Q and other filings submitted to the SEC. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.
3
Winchester Bancorp, Inc. and Subsidiaries
Consolidated Balance Sheets (unaudited)
(Dollars in thousands, except share and per share data)
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September 30, |
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June 30, |
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2026 |
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2026 |
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Assets |
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Cash and due from banks |
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$ |
1,370 |
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$ |
1,283 |
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Interest-bearing deposits |
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61,803 |
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58,764 |
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Total cash and cash equivalents |
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63,173 |
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60,047 |
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Securities available for sale, at fair value (amortized cost of $69,834 at |
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66,144 |
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68,776 |
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Securities held to maturity, at amortized cost |
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57,013 |
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56,228 |
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Federal Home Loan Bank stock, at cost |
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6,312 |
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6,791 |
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Loans, net of allowance for credit losses of $5,133 at September 30, 2026 |
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908,696 |
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870,773 |
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Bank owned life insurance |
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16,549 |
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11,397 |
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Premises and equipment, net |
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5,799 |
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5,590 |
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Accrued interest receivable |
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3,818 |
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4,034 |
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Net deferred tax asset |
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1,726 |
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1,092 |
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Other assets |
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11,956 |
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11,208 |
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$ |
1,141,186 |
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$ |
1,095,936 |
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Liabilities and stockholders' equity |
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Non-interest-bearing deposits |
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$ |
63,372 |
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$ |
63,168 |
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Interest-bearing deposits |
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799,280 |
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746,068 |
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Federal Home Loan Bank advances |
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149,923 |
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158,158 |
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Mortgagors’ escrow accounts |
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2,125 |
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1,809 |
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Accrued expenses and other liabilities |
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6,859 |
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6,220 |
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Total liabilities |
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1,021,559 |
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975,423 |
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Commitments and contingencies |
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Preferred stock, $.01 par value, 5,000,000 shares authorized, none outstanding |
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— |
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— |
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Common stock, $.01 par value, 20,000,000 shares authorized, 9,295,376 issued and outstanding as of September 30, 2026 and June 30, 2026 |
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93 |
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93 |
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Additional paid-in capital |
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39,599 |
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39,586 |
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Unearned compensation (ESOP) |
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(3,108 |
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(3,151 |
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Retained earnings |
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86,409 |
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85,141 |
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Accumulated other comprehensive loss |
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(3,366 |
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(1,156 |
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Total stockholders' equity |
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119,627 |
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120,513 |
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Total liabilities and stockholders' equity |
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$ |
1,141,186 |
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$ |
1,095,936 |
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4
Winchester Bancorp, Inc. and Subsidiaries
Consolidated Statements of Operations (unaudited)
(Dollars in thousands, except share and per share data)
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Three months ended |
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September 30, |
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2026 |
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2025 |
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(In thousands, except share data) |
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Interest and dividend income: |
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Interest and fees on loans |
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$ |
12,440 |
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$ |
10,402 |
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Interest and dividends on securities |
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1,254 |
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1,113 |
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Interest on federal funds sold and other interest-bearing deposits |
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489 |
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422 |
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Total interest and dividend income |
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14,183 |
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11,937 |
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Interest expense: |
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Interest on deposits |
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5,708 |
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4,670 |
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Interest on Federal Home Loan Bank advances |
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1,287 |
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1,526 |
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Total interest expense |
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6,995 |
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6,196 |
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Net interest income |
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7,188 |
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5,741 |
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Provision (benefit) for credit losses |
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415 |
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(320 |
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Net interest income, after provision (benefit) for credit losses |
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6,773 |
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6,061 |
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Non-interest income: |
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Customer service fees |
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229 |
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191 |
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Income on bank owned life insurance |
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152 |
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119 |
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Loss on available for sale securities, net |
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— |
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(317 |
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Miscellaneous |
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117 |
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59 |
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Total non-interest income |
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498 |
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52 |
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Non-interest expense: |
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Salaries and employee benefits |
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3,147 |
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2,697 |
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Occupancy and equipment, net |
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420 |
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396 |
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Data processing |
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480 |
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408 |
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Deposit insurance |
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195 |
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210 |
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Marketing and advertising |
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266 |
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184 |
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Other general and administrative |
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1,108 |
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900 |
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Total non-interest expense |
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5,616 |
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4,795 |
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Income before income taxes |
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1,655 |
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1,318 |
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Provision for income taxes |
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387 |
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356 |
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Net income |
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$ |
1,268 |
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$ |
962 |
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Share Data: |
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Average common shares outstanding, basic and diluted |
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8,981,699 |
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8,964,893 |
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Basic and diluted net income per share |
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$ |
0.14 |
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$ |
0.11 |
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5
Winchester Bancorp, Inc. and Subsidiaries
Average Balances and Yields (unaudited)
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For the Three Months Ended September 30, |
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2026 |
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2025 |
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Average |
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Interest |
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Average |
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Average |
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Interest |
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Average |
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(Dollars in thousands) |
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Interest-earning assets: |
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Loans |
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$ |
899,041 |
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$ |
12,440 |
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5.53 |
% |
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$ |
775,015 |
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$ |
10,402 |
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5.37 |
% |
Securities |
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126,051 |
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1,254 |
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3.98 |
% |
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109,870 |
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1,113 |
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4.05 |
% |
Federal funds sold and other interest-bearing deposits |
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49,879 |
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489 |
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3.92 |
% |
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36,551 |
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422 |
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4.62 |
% |
Total interest-earning assets |
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1,074,971 |
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14,183 |
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5.28 |
% |
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921,436 |
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11,937 |
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5.18 |
% |
Non-interest-earning assets |
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49,676 |
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43,149 |
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Allowance for credit losses on loans |
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(4,867 |
) |
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(4,180 |
) |
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Total assets |
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$ |
1,119,780 |
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$ |
960,405 |
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Interest-bearing liabilities: |
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NOW and demand deposits |
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$ |
53,356 |
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17 |
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0.13 |
% |
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$ |
55,599 |
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4 |
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0.03 |
% |
Savings accounts |
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147,594 |
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|
751 |
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2.04 |
% |
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159,587 |
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|
916 |
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2.30 |
% |
Money market accounts |
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270,955 |
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|
2,177 |
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3.21 |
% |
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133,819 |
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1,102 |
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3.29 |
% |
Certificates of deposit |
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311,505 |
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|
2,763 |
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3.55 |
% |
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280,536 |
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|
2,648 |
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|
3.78 |
% |
Total interest-bearing deposits |
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783,410 |
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|
5,708 |
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|
2.91 |
% |
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629,541 |
|
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|
4,670 |
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|
2.97 |
% |
Borrowings |
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131,675 |
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|
1,287 |
|
|
|
3.91 |
% |
|
|
141,294 |
|
|
|
1,526 |
|
|
|
4.32 |
% |
Total interest-bearing liabilities |
|
|
915,085 |
|
|
|
6,995 |
|
|
|
3.06 |
% |
|
|
770,835 |
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|
|
6,196 |
|
|
|
3.22 |
% |
Non-interest bearing demand accounts |
|
|
71,290 |
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|
|
|
|
|
|
|
62,528 |
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|
|
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|
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Other non-interest-bearing liabilities |
|
|
11,692 |
|
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|
|
|
|
|
|
|
11,018 |
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|
|
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|
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|
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Total liabilities |
|
|
998,067 |
|
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|
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|
|
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|
844,381 |
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|
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Stockholders' equity |
|
|
121,713 |
|
|
|
|
|
|
|
|
|
116,024 |
|
|
|
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|
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|
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Total liabilities and stockholders' equity |
|
$ |
1,119,780 |
|
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|
|
|
|
|
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$ |
960,405 |
|
|
|
|
|
|
|
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Net interest income |
|
|
|
|
$ |
7,188 |
|
|
|
|
|
|
|
|
$ |
5,741 |
|
|
|
|
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Net interest rate spread (2) |
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|
|
|
|
|
|
|
2.22 |
% |
|
|
|
|
|
|
|
|
1.96 |
% |
||||
Net interest-earning assets (3) |
|
$ |
159,886 |
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|
|
|
|
|
|
$ |
150,601 |
|
|
|
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|
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|
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Net interest margin (4) |
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|
|
|
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|
|
2.67 |
% |
|
|
|
|
|
|
|
|
2.49 |
% |
||||
Average interest-earning assets to |
|
|
117.47 |
% |
|
|
|
|
|
|
|
|
119.54 |
% |
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|
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|
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(1) Annualized. |
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(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. |
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(3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. |
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(4) Net interest margin represents net interest income divided by average total interest-earning assets. |
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6
Winchester Bancorp, Inc. and Subsidiaries
Selected Financial Highlights (unaudited)
(Dollars in thousands, except share and per share data)
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For the three months ended |
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|
September 30, |
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|
|
2026 |
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|
2025 |
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Earnings Data |
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Net interest income |
|
$ |
7,188 |
|
|
$ |
5,741 |
|
Non-interest income |
|
|
498 |
|
|
|
52 |
|
Total net interest income and non-interest income |
|
|
7,686 |
|
|
|
5,793 |
|
Provision (benefit) for credit losses |
|
|
415 |
|
|
|
(320 |
) |
Non-interest expense |
|
|
5,616 |
|
|
|
4,795 |
|
Pre-tax income |
|
|
1,655 |
|
|
|
1,318 |
|
Net income |
|
|
1,268 |
|
|
|
962 |
|
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Per share Data |
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Basic and diluted earnings per share |
|
$ |
0.14 |
|
|
$ |
0.11 |
|
Book value per share |
|
$ |
13.00 |
|
|
$ |
12.59 |
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Earnings |
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Return on average assets |
|
|
0.45 |
% |
|
|
0.40 |
% |
Return on average stockholders' equity |
|
|
4.17 |
% |
|
|
3.32 |
% |
Net interest margin |
|
|
2.67 |
% |
|
|
2.49 |
% |
Cost of deposits |
|
|
2.91 |
% |
|
|
2.97 |
% |
Efficiency ratio |
|
|
73.07 |
% |
|
|
82.77 |
% |
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Balance Sheet |
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Total assets |
|
$ |
1,141,186 |
|
|
$ |
1,005,212 |
|
Loans, net |
|
$ |
908,696 |
|
|
$ |
793,184 |
|
Total stockholders' equity |
|
$ |
119,627 |
|
|
$ |
116,992 |
|
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Asset quality |
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Allowance for credit losses (ACL) |
|
$ |
5,133 |
|
|
$ |
4,356 |
|
ACL/Total loans |
|
|
0.56 |
% |
|
|
0.55 |
% |
ACL/Total nonperforming loans (NPLs) |
|
|
270.02 |
% |
|
|
224.67 |
% |
Net charge-offs/average total loans |
|
|
— |
|
|
|
(0.03 |
)% |
Capital Ratios |
|
|
|
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Stockholders' equity/total assets |
|
|
10.48 |
% |
|
|
11.64 |
% |
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