Winchester Bancorp Inc (OTC: WSBK) is a Massachusetts-based bank holding company that operates through its subsidiary, Winchester Savings Bank, headquartered at 661 Main Street, Winchester, Massachusetts. The company makes money on the spread between interest earned on loans and investment securities and interest paid on deposits, with net interest income of $17.5 million for the year ended June 30, 2025, up from $14.4 million in FY2024. Non-interest income contributed $1.8 million in FY2024 and $1.8 million in FY2025. Total deposits stood at $679.2 million as of June 30, 2025, with certificates of deposit comprising the largest share at $283.2 million, or 41.7% of total deposits. The bank carries a significant concentration of fixed-rate residential real estate loans, which limits repricing speed when market rates rise. Funding relies on core deposits, Federal Home Loan Bank of Boston advances, and brokered certificates of deposit as supplemental sources.

Revenue model

Net interest income from the spread between loan and investment yields and deposit funding costs. Non-interest income is a secondary revenue stream, totaling $1.8 million for the year ended June 30, 2025.

Products and services

Deposit products including noninterest-bearing demand accounts ($55.7 million as of June 30, 2025), NOW and demand deposits ($59.4 million), savings accounts ($160.3 million), money market accounts ($120.6 million), and certificates of deposit ($283.2 million). Investment securities include U.S. government and agency securities, residential mortgage-backed securities, corporate bonds, and municipal bonds held to maturity.

Customers and end markets

Retail and commercial depositors in the Winchester, Massachusetts market area. Loan customers concentrated in residential real estate with fixed-rate structures.

Value-chain role

Community savings bank and holding company. Accepts retail deposits and deploys capital into residential real estate loans and investment securities. Uses Federal Home Loan Bank of Boston advances and brokered certificates of deposit for supplemental funding.

Geographic exposure

Winchester, Massachusetts and surrounding market area.

Source: SEC 10-K, filed 2025-09-17

Industry: Savings Institutions, Not Federally Chartered