Winchester Bancorp, Inc./MD/
For the period ended Dec 31, 2024. Filed Mar 27, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2024 · Filed Mar 27, 2025
WSBK$13.67+0.4%Stored close · as of Nov 9, 2026
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Consolidated Statements of Operations
Consolidated Statements of Operations (unaudited)
| Three months ended · Six months ended | ||||
|---|---|---|---|---|
| December 31, | December 31, | |||
| 2024 | 2023 | 2024 | 2023 | |
| (In thousands) | ||||
| Interest and dividend income: | ||||
| Interest and fees on loans | $9,245 | $7,565 | $18,260 | $14,534 |
| Interest and dividends on securities | 755 | 504 | 1,521 | 958 |
| Interest on federal funds sold and other interest-bearing deposits | 507 | 427 | 956 | 801 |
| Total interest and dividend income | 10,507 | 8,496 | 20,737 | 16,293 |
| Interest expense: | ||||
| Interest on deposits | 4,942 | 3,829 | 9,951 | 7,051 |
| Interest on Federal Home Loan Bank advances | 1,534 | 1,096 | 2,988 | 1,905 |
| Total interest expense | 6,476 | 4,925 | 12,939 | 8,956 |
| Net interest income | 4,031 | 3,571 | 7,798 | 7,337 |
| Provision for credit losses | 238 | 76 | 1,400 | 139 |
| Net interest income, after provision for credit losses | 3,793 | 3,495 | 6,398 | 7,198 |
| Other income: | ||||
| Customer service fees | 180 | 167 | 368 | 341 |
| Income on bank owned life insurance | 118 | 66 | 235 | 132 |
| Loss on available for sale securities, net | — | (32) | — | (32) |
| Gain on marketable equity securities, net | 52 | 165 | 223 | 73 |
| Gain on sale of fixed assets | — | 314 | — | 314 |
| Miscellaneous | 38 | 17 | 63 | 60 |
| Total other income | 388 | 697 | 889 | 888 |
| Operating expenses: | ||||
| Salaries and employee benefits | 2,174 | 2,352 | 4,436 | 4,567 |
| Occupancy and equipment, net | 413 | 386 | 790 | 734 |
| Data processing | 305 | 261 | 652 | 522 |
| Deposit insurance | 207 | 100 | 428 | 191 |
| Marketing and advertising | 96 | 102 | 192 | 184 |
| Other general and administrative | 572 | 663 | 1,205 | 1,303 |
| Total operating expenses | 3,767 | 3,864 | 7,703 | 7,501 |
| Income (loss) before income taxes | 414 | 328 | (416) | 585 |
| Provision (benefit) for income taxes | 41 | 56 | (157) | 100 |
| Net income (loss) | $373 | $272 | $(259) | $485 |
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