$EWSB

EWSB Bancorp, Inc. /MD/

CIK:0002013792|SEC Filings

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
Consolidated Statements of Operations - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and dividend income:
Loans, including fees	$ 2,343,082	$ 2,445,883	$ 4,692,867	$ 4,733,362
Securities:
Taxable	227,050	248,610	461,362	504,647
Tax-exempt	9,385	9,391	18,778	18,789
Other	84,661	55,979	172,096	106,794
Total interest and dividend income	2,664,178	2,759,863	5,345,103	5,363,592
Interest expense:
Deposits	1,173,429	1,266,512	2,337,987	2,645,609
Borrowed funds	263,931	365,223	603,156	627,554
Total interest expense	1,437,360	1,631,735	2,941,143	3,273,163
Net interest and dividend income	1,226,818	1,128,128	2,403,960	2,090,429
Provision for credit losses	49,301	15,373	102,194	125,663
Net interest income after provision for credit losses	1,177,517	1,112,755	2,301,766	1,964,766
Noninterest income:
Service charges on deposit accounts	18,652	19,929	32,594	34,511
Interchange income	53,946	60,169	104,640	116,523
Mortgage banking income	51,927	69,641	98,888	108,949
Gain on sale of mortgage loans	102,195	57,311	260,930	115,170
Increase in cash value of life insurance	69,898	63,501	138,474	125,726
Gain on interest rate swap	5,864	0	14,472	0
Other	97,851	89,395	172,567	179,409
Total noninterest income	400,333	359,946	822,565	680,288
Noninterest expense:
Salaries and related benefits	1,027,550	1,083,914	2,072,000	2,190,483
Occupancy expense	138,868	152,910	304,685	320,884
Data processing	267,358	348,129	525,869	622,467
Advertising	29,125	32,066	51,439	60,048
FDIC insurance premiums	140,232	73,910	240,127	130,536
Other	289,241	206,462	609,515	541,498
Total noninterest expense	1,892,374	1,897,391	3,803,635	3,865,916
Income (loss) before provision for (benefit from) income taxes	(314,524)	(424,690)	(679,304)	(1,220,862)
Provision for (benefit from) income taxes	0	(146,030)	0	(373,561)
Net income (loss)	$ (314,524)	$ (278,660)	$ (679,304)	$ (847,301)
Basic earnings per share (in dollars per share)	$ (0.44)	$ (0.4)	$ (0.96)	$ (1.21)
Diluted earnings per share (in dollars per share)	$ (0.44)	$ (0.4)	$ (0.96)	$ (1.21)
Weighted average shares outstanding, Basic (in shares)	711,867	703,482	708,678	703,152
Weighted average shares outstanding, Diluted (in shares)	711,867	703,482	708,678	703,152

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net cash flows used in operating activities	$ (713,025)	$ (1,297,818)
Cash flows from investing activities:
Maturities of time deposits with other financial institutions	500,000	0
Proceeds from maturities and paydowns of securities available for sale	486,683	1,092,364
Proceeds from maturities and paydowns of securities held to maturity	5,750,000	750,000
Redemption (purchase) of FHLB stock	56,388	(596,248)
Net decrease/(increase) in loans	(2,867,376)	(9,988,437)
Proceeds from sale of loans	6,319,887	0
Purchase of office properties and equipment	(22,096)	(52,122)
Net cash flows provided by (used in) investing activities	10,223,486	(8,794,443)
Cash flows from financing activities:
Net change in deposits	7,613,234	(9,373,677)
Net change in advance payments by borrowers for taxes and insurance	828,896	943,027
Net increase/(decrease) from FHLB short-term advances activity	(1,306,000)	(2,932,000)
Proceeds from FHLB long-term advances	6,354,729	34,000,000
Maturities and paydowns of FHLB long-term advances	(20,000,000)	(11,000,000)
Proceeds from issuance of common stock, net of costs	2,407,963	0
Net cash flows provided by (used in) financing activities	(4,101,178)	11,637,350
Net change in cash and cash equivalents	5,409,283	1,545,089
Cash and cash equivalents at beginning of period	1,272,620	1,188,634
Cash and cash equivalents at end of period	6,681,903	2,733,723
Supplemental cash flow information:
Cash paid during the period for: Interest	2,997,625	3,336,430
Cash paid during the period for: Taxes	$ 0	$ 0

Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 6,681,903	$ 1,272,620
Time deposits with other financial institutions	4,000,480	4,499,912
Debt securities available for sale (amortized cost of $24,444,328 and $24,917,350 as of June 30, 2026 and December 31, 2025, respectively)	21,714,164	22,289,409
Debt securities held to maturity (fair value of $30,989,413 and $36,749,812 as of June 30, 2026 and December 31, 2025, respectively)	31,187,920	36,431,757
Loans, net of allowance of $1,182,780 and $1,142,629 as of June 30, 2026 and December 31, 2025, respectively	185,870,923	189,415,521
Land held for sale	435,328	435,328
Office properties and equipment, net	2,296,414	2,357,973
Federal Home Loan Bank stock	2,702,857	2,759,245
Cash value of life insurance	8,094,592	7,956,118
Deferred tax asset, net of allowance of $3,483,557 and $3,297,641 as of June 30, 2026 and December 31, 2025, respectively	1,748,103	1,844,846
Accrued interest receivable and other assets	1,251,867	1,706,597
TOTAL ASSETS	265,984,551	270,969,326
Deposits:
Non-interest bearing	10,750,903	7,696,247
Interest bearing	214,112,879	209,554,301
Total deposits	224,863,782	217,250,548
Borrowed funds	23,417,549	38,368,820
Advance payments by borrowers for taxes and insurance	1,308,820	479,924
Accrued interest payable and other liabilities	1,175,014	1,652,108
Total liabilities	250,765,165	257,751,400
Equity:
Common stock ($0.01 par value, 4,000,000 shares authorized, 1,014,220 and 752,538 issued and outstanding as of June 30, 2026 and December 31, 2025)	10,142	7,525
Additional paid-in capital	7,875,799	5,471,260
Retained earnings	12,642,902	13,322,206
Unallocated common shares held by Employee Stock Ownership Plan (ESOP)	(460,932)	(474,102)
Accumulated other comprehensive income (loss)	(4,848,525)	(5,108,963)
Total stockholders' equity	15,219,386	13,217,926
TOTAL LIABILITIES AND EQUITY	$ 265,984,551	$ 270,969,326