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SEC filingWinchester Bancorp, Inc. reported net income of $1.1 million ($0.13 per share) for the quarter ended March 31, 2026 — a 275.4% increase year-over-year — driven by strong loan growth, margin expansion to 2.54%, and improved efficiency ratio of 72.7%.
Winchester Bancorp’s third quarter fiscal 2026 results reflect a pronounced inflection in profitability and operational execution. Net income surged 275.4% year-over-year to $1.1 million, with diluted EPS rising to $0.13 — a material acceleration from $0.04 in the prior-year quarter. This was underpinned by a 44.0% increase in net interest income to $6.3 million, driven by both volume and rate improvements: average loan balances rose $82.1 million year-over-year, while net interest margin expanded 52 basis points to 2.54%, reflecting disciplined deposit pricing (cost of deposits fell to 2.80% from 3.06%) and favorable asset mix. Management explicitly cited strategic loan growth — $40.4 million in the quarter — prioritized ahead of anticipated fourth-quarter payoffs, with multifamily and residential portfolios contributing nearly all new originations. The $104.5 million sequential deposit increase, concentrated in municipal customer funds, enabled a shift away from more expensive FHLB borrowings and supported margin expansion. Non-interest expense rose 12.1% year-over-year, but the efficiency ratio improved sharply to 72.7% from 92.5%, indicating meaningful operating leverage. Asset quality metrics strengthened: non-performing assets declined to 0.16% of total assets, and net charge-offs dropped to $12,000 from $50,000 year-over-year. CEO John A. Carroll highlighted the newly established municipal channel as a key enabler of funding optimization and noted the upcoming Wakefield branch expansion — reinforcing confidence in organic growth and shareholder value creation as the company enters its second year as a public entity.