Winchester Bancorp, Inc. reported a significant increase in financial performance for the six months ending December 31, 2025, with net income rising to $2.0 million, compared to a net loss of $259,000 during the same period in 2024. The company's total interest and dividend income increased by 17.4% to $24.4 million, driven primarily by a 15.6% rise in interest and fees on loans, which reached $21.1 million. This growth was attributed to an increase in the average balance of loans, which rose by 11.0% to $786.2 million, alongside a slight increase in the average yield on loans.
Total assets for Winchester Bancorp increased by 7.0% to $1.0 billion as of December 31, 2025, up from $949.4 million at the end of June 2025. This growth was largely fueled by a $49.0 million increase in gross loans, which totaled $803.1 million, with notable contributions from multi-family and residential real estate loans. Additionally, investment securities rose to $122.7 million, reflecting the company's strategy to reinvest stock offering proceeds into government agency and mortgage-backed securities.
The bank's deposits also saw a substantial increase, rising by 9.9% to $746.3 million, primarily due to a significant uptick in money market accounts, which grew by 63.5% to $197.1 million. However, certificates of deposit experienced a decline of 3.5%. Borrowings from the Federal Home Loan Bank decreased by 2.3% to $143.6 million, as the bank utilized the inflow from increased deposits to reduce its reliance on external funding.
Operationally, the company reported a provision for credit losses of $68,000 for the six months ended December 31, 2025, a significant decrease from $1.4 million in the prior year, reflecting improved credit quality and a change in the credit loss methodology. The allowance for credit losses on loans stood at $4.4 million, representing 0.55% of total loans. The bank's non-accrual loans increased to $3.6 million, up from $2.2 million, primarily due to one construction loan placed on non-accrual status.
Looking ahead, Winchester Bancorp anticipates continued growth in its loan portfolio and overall financial performance, supported by its strategic focus on originating construction, commercial, and residential real estate loans. The company remains committed to maintaining a strong liquidity position and is well-capitalized under regulatory guidelines, positioning itself favorably for future opportunities in the evolving financial landscape.
About Winchester Bancorp, Inc./MD/
Winchester Bancorp, Inc. is a bank holding company for Winchester Savings Bank, a Massachusetts-chartered savings bank. It primarily engages in retail banking, offering deposit accounts and residential, commercial, and multi-family real estate loans. The company focuses on community-based financial services in eastern Massachusetts, emphasizing mortgage lending, deposit gathering, and investment activities, with core advantages in local market expertise and regulatory compliance.
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