Winchester Co-operative Bank is committed to maintaining financial strength and stability through prudent and thoughtful management. Please contact a member of our team if you have any questions about this statement.
Consolidated Statement of Condition | 2023 | 2022 |
Assets | ||
Cash and due from banks | $4,898,774 | $2,869,639 |
Fed overnight Investments | 33,541,406 | 208,316,066 |
• Total cash and cash equivalents | 38,440,180 | 211,185,705 |
Investment securities: | ||
• Held to maturity, at amortized cost | 140,667,227 | 108,386,074 |
Loans receivable, net | 554,478,151 | 470,205,193 |
Cash surrender value of bank-owned life insurance | 10,235,262 | |
Accrued interest receivable | 2,370,299 | 1,551,498 |
Premises and equipment, net | 4,022,918 | 4,311,843 |
Federal Home Loan Bank Stock, restricted, at cost | 514,500 | 514,500 |
Deferred income tax asset, net | 299,065 | 251,790 |
Prepaid federal and state income taxes | 385,000 | 103,400 |
Prepaid expenses and other assets | 683,064 | 504,032 |
$752,095,666 | $797,014,035 | |
Liabilities and Equity | ||
Liabilities: | ||
• Deposits | $645,997,827 | $ 696,426,270 |
• Mortgagors' escrow accounts | 466,228 | 78,444 |
• Accrued expenses and other liabilities | 1,604,918 | 1,294,697 |
• Borrowings | 2,500,000 | 2,500,000 |
Total liabilities | 650,568,973 | 700,299,411 |
Equity: | ||
• Retained earnings | 101,526,693 | 96,714,624 |
$ 752,095,666 | $797,014,035 |
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