EWSB Bancorp, Inc. /MD/ 10-Q

EWSB BANCORP, INC_June 30, 2026 Table of Contents ​ ​ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2026 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-56690 EWSB BANCORP, INC . (Exact Name of Registrant as Specified in Its Charter) ​ ​ ​ Maryland ​ ​ ​ 33-2899738 (State of Other Jurisdiction of Incorporation or Organization) ​ (I.R.S. Employer Identification No.) ​ 109 West Second Street , Kaukauna , Wisconsin 54130 (Address of Principal Executive Offices) (Zip Code) ( 920 ) 766-4646 (Registrant’s Telephone Number, Including Area Code) Not applicable (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of Act: ​ ​ ​ ​ ​ Title of each class ​ ​ ​ Trading Symbol(s) ​ ​ ​ Name of each exchange on which registered Common Stock ​ EWSB ​ OTCQB Market ​ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. ​ ​ ​ ​ Large Accelerated Filer ☐ Accelerated Filer ☐ Non-accelerated Filer ☒ Smaller Reporting Company ☒ Emerging growth company ☒ ​ ​ ​ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒ As of August 12, 2026, the Registrant had 1,014,220 shares of common stock, par value $0.01 per share issued and outstanding. ​ ​ ​ Table of Contents TABLE OF CONTENTS ​ ​ ​ ​ ​ Page PART I. FINANCIAL INFORMATION ​ Item 1. Financial Statements 1 ​ Consolidated Balance Sheets as of June 30, 2026 (unaudited) and December 31, 202 5 1 ​ Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2026 and 2025 (unaudited) 2 ​ Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2026 and 2025 (unaudited) 4 ​ Consolidated Statements of Changes in Equity for the Three and Six Months Ended June 30, 2026 and 2025 (unaudited) 5 ​ Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2026 and 2025 (unaudited) 6 ​ Notes to Consolidated Financial Statements 7 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3. Quantitative and Qualitative Disclosures About Market Risk 40 Item 4. Controls and Procedures 40 PART II. OTHER INFORMATION ​ Item 1. Legal Proceedings 41 Item 1A. Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 41 Item 6. Exhibits 42 Signatures 43 ​ ​ ​ ii Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Consolidated Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2026 ​ December 31, 2025 ​ ​ (unaudited) ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ Liabilities and Equity ​ ​ ​ ​ ​ 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, respectively) ​ ​ 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 ​ See accompanying notes to unaudited consolidated financial statements. ​ 1 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Consolidated Statements of Operations (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ ​ ​ Six Months Ended June 30, ​ ​ 2026 ​ 2025 ​ 2026 ​ 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 ​ ​ — ​ ​ 14,472 ​ ​ — Other ​ ​ 97,851 ​ ​ 89,395 ​ ​ 172,567 ​ ​ 179,409 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total noninterest income ​ ​ 400,333 ​ ​ 359,946 ​ ​ 822,565 ​ ​ 680,288 ​ See accompanying notes to unaudited consolidated financial statements. ​ 2 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Consolidated Statements of Operations (unaudited) Continued ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ ​ ​ Six Months Ended June 30, ​ ​ ​ ​ 2026 ​ 2025 ​ 2026 ​ 2025 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 ​ ​ — ​ ​ ( 146,030 ) ​ ​ — ​ ​ ( 373,561 ) Net income (loss) ​ $ ( 314,524 ) ​ $ ( 278,660 ) ​ $ ( 679,304 ) ​ $ ( 847,301 ) Basic and diluted earnings per share ​ $ ( 0.44 ) ​ $ ( 0.40 ) ​ $ ( 0.96 ) ​ $ ( 1.21 ) Weighted average shares outstanding ​ ​ 711,867 ​ ​ 703,482 ​ ​ 708,678 ​ ​ 703,152 ​ See accompanying notes to unaudited consolidated financial statements. ​ 3 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Consolidated Statements of Comprehensive Income (Loss) (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ ​ ​ Six Months Ended June 30, ​ ​ ​ ​ 2026 ​ 2025 ​ 2026 ​ 2025 Net income (loss) ​ $ ( 314,524 ) ​ $ ( 278,660 ) ​ $ ( 679,304 ) ​ $ ( 847,301 ) Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) on available for sale debt securities ​ ​ ( 18,218 ) ​ ​ 304,078 ​ ​ ( 102,223 ) ​ ​ 797,692 Reclassification adjustment for (accretion) amortization of unrealized holding gain (loss) included in accumulated other comprehensive income (loss) from the securities transferred from available for sale to held to maturity ​ ​ 219,290 ​ ​ 245,531 ​ ​ 459,405 ​ ​ 541,716 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss), before tax ​ ​ 201,072 ​ ​ 549,609 ​ ​ 357,182 ​ ​ 1,339,408 Tax effect of other comprehensive income (loss) items ​ ​ ( 55,328 ) ​ ​ ( 126,470 ) ​ ​ ( 96,744 ) ​ ​ ( 355,346 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss), net of tax ​ ​ 145,744 ​ ​ 423,139 ​ ​ 260,438 ​ ​ 984,062 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income (loss) ​ $ ( 168,780 ) ​ $ 144,479 ​ $ ( 418,866 ) ​ $ 136,761 ​ See accompanying notes to unaudited consolidated financial statements. ​ 4 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Consolidated Statements of Changes in Equity (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unallocated ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common ​ ​ ​ Other ​ ​ ​ ​ ​ Common Stock ​ Additional Paid- ​ Retained ​ Shares Held ​ Comprehensive ​ ​ ​ ​ ​ Shares ​ Amount ​ In Capital ​ Earnings ​ by ESOP ​ Income (Loss) ​ Total Equity ​ ​ Three Months Ended June 30, 2026 Balance at March 31, 2026 ​ ​ 752,538 ​ $ 7,525 ​ $ 5,470,718 ​ $ 12,957,426 ​ $ ( 467,517 ) ​ $ ( 4,994,269 ) ​ $ 12,973,883 Net income (loss) ​ — ​ — ​ — ​ ( 314,524 ) ​ — ​ — ​ ( 314,524 ) Proceeds of stock offering and issuance of common shares (net of issuance cost of $ 208,857 ) ​ ​ 261,682 ​ ​ 2,617 ​ ​ 2,405,346 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,407,963 ESOP shares committed to be released ​ ​ — ​ ​ — ​ ​ ( 265 ) ​ ​ — ​ ​ 6,585 ​ ​ — ​ ​ 6,320 Other comprehensive income (loss) ​ — ​ — ​ — ​ — ​ — ​ 145,744 ​ 145,744 Balance at June 30, 2026 ​ ​ 1,014,220 ​ $ 10,142 ​ $ 7,875,799 ​ $ 12,642,902 ​ $ ( 460,932 ) ​ $ ( 4,848,525 ) ​ $ 15,219,386 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unallocated ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common ​ ​ ​ Other ​ ​ ​ ​ ​ Common Stock ​ Additional Paid- ​ Retained ​ Shares Held ​ Comprehensive ​ ​ ​ ​ ​ Shares ​ Amount ​ In Capital ​ Earnings ​ by ESOP ​ Income (Loss) ​ Total Equity ​ ​ Six Months Ended June 30, 2026 Balance at January 1, 2026 ​ ​ 752,538 ​ ​ ​ $ 7,525 ​ ​ ​ $ 5,471,260 ​ ​ ​ $ 13,322,206 ​ $ ( 474,102 ) ​ $ ( 5,108,963 ) ​ $ 13,217,926 Net income (loss) ​ ​ — ​ — ​ — ​ ( 679,304 ) ​ — ​ — ​ ( 679,304 ) Proceeds of stock offering and issuance of common shares (net of issuance cost of $ 208,857 ) ​ ​ 261,682 ​ ​ 2,617 ​ ​ 2,405,346 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,407,963 ESOP shares committed to be released ​ ​ — ​ ​ — ​ ​ ( 807 ) ​ ​ — ​ ​ 13,170 ​ ​ — ​ ​ 12,363 Other comprehensive income (loss) ​ ​ — ​ — ​ — ​ — ​ — ​ 260,438 ​ 260,438 Balance at June 30, 2026 ​ ​ 1,014,220 ​ $ 10,142 ​ $ 7,875,799 ​ $ 12,642,902 ​ $ ( 460,932 ) ​ $ ( 4,848,525 ) ​ $ 15,219,386 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unallocated ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common ​ ​ ​ Other ​ ​ ​ ​ ​ Common Stock ​ Additional Paid- ​ Retained ​ Shares Held ​ Comprehensive ​ ​ ​ ​ ​ Shares ​ Amount ​ In Capital ​ Earnings ​ by ESOP ​ Income (Loss) ​ Total Equity ​ ​ Three Months Ended June 30, 2025 Balance at March 31, 2025 ​ ​ 752,538 ​ $ 7,525 ​ $ 5,473,225 ​ $ 16,930,521 ​ $ ( 493,856 ) ​ $ ( 6,291,330 ) ​ $ 15,626,085 Net income (loss) ​ — ​ — ​ — ​ ( 278,660 ) ​ — ​ — ​ ( 278,660 ) ESOP shares committed to be released ​ ​ — ​ ​ — ​ ​ ( 373 ) ​ ​ — ​ ​ 6,585 ​ ​ — ​ ​ 6,212 Other comprehensive income (loss) ​ — ​ — ​ — ​ — ​ — ​ 423,139 ​ 423,139 Balance at June 30, 2025 ​ ​ 752,538 ​ $ 7,525 ​ $ 5,472,852 ​ $ 16,651,861 ​ $ ( 487,271 ) ​ $ ( 5,868,191 ) ​ $ 15,776,776 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unallocated ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common ​ ​ ​ Other ​ ​ ​ ​ ​ Common Stock ​ Additional Paid- ​ Retained ​ Shares Held ​ Comprehensive ​ ​ ​ ​ ​ Shares ​ Amount ​ In Capital ​ Earnings ​ by ESOP ​ Income (Loss) ​ Total Equity ​ ​ Six Months Ended June 30, 2025 Balance at January 1, 2025 ​ ​ 752,538 ​ $ 7,525 ​ $ 5,472,763 ​ $ 17,499,162 ​ $ ( 500,441 ) ​ $ ( 6,852,253 ) ​ $ 15,626,756 Net income (loss) ​ — ​ — ​ — ​ ( 847,301 ) ​ — ​ — ​ ( 847,301 ) ESOP shares committed to be released ​ ​ — ​ ​ — ​ ​ 89 ​ ​ — ​ ​ 13,170 ​ ​ — ​ ​ 13,259 Other comprehensive income (loss) ​ — ​ — ​ — ​ — ​ — ​ 984,062 ​ 984,062 Balance at June 30, 2025 ​ ​ 752,538 ​ $ 7,525 ​ $ 5,472,852 ​ $ 16,651,861 ​ $ ( 487,271 ) ​ $ ( 5,868,191 ) ​ $ 15,776,776 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ See accompanying notes to unaudited consolidated financial statements. ​ 5 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Condensed Consolidated Statements of Cash Flows (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ ​ ​ ​ 2026 ​ ​ ​ 2025 Cash flows from operating activities: ​ $ ( 713,025 ) ​ $ ( 1,297,818 ) ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities: ​ ​ ​ ​ ​ ​ Maturities of time deposits with other financial institutions ​ ​ 500,000 ​ ​ — 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 ​ ​ — 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 ​ ​ — 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 Taxes ​ $ — ​ $ — ​ See accompanying notes to unaudited consolidated financial statements. ​ ​ 6 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Notes to Unaudited Consolidated Financial Statements Note 1: Summary of Significant Accounting Policies Organization EWSB Bancorp, Inc. (the “Company”), a Maryland corporation and registered bank holding company, was formed to serve as the holding company for East Wisconsin Savings Bank (the “Bank”), upon conversion of Wisconsin Mutual Bancorp, MHC to the stock form of organization, which was completed on September 20, 2024. In connection with the conversion, the Company sold 752,538 shares of common stock, par value $ 0.01 , including 52,678 shares sold to the Bank’s Employee Stock Ownership Plan, at $ 10.00 per share in its subscription offering for gross proceeds (before deducting offering expenses) of approximately $ 7.5 million. On June 29, 2026, the Company issued 261,682 shares of common stock, par value $ 0.01 per share, at $ 10.00 per share pursuant to a private placement for gross proceeds of approximately $ 2.6 million. The private placement was conducted as a rights offering to eligible holders of the Company’s common stock. The Company currently has 1,014,220 shares of common stock outstanding. The Company’s common stock is traded on the OTCQB Market under the trading symbol “EWSB”. The Bank provides a variety of financial services to individual and corporate customers. The Bank operates as a full-service financial institution with a primary market area including, but not limited to, east central Wisconsin. The Company is subject to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. Principles of Consolidation The financial statements include the accounts of EWSB Bancorp, Inc. and its subsidiary, East Wisconsin Savings Bank. All significant intercompany balances and transactions have been eliminated. Basis of Presentation The accompanying unaudited Consolidated Financial Statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited financial statements and related notes of EWSB Bancorp, Inc.’s Consolidated Financial Statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. The Company has not changed its significant accounting and reporting policies from those disclosed in the audited financial statements for the year ended December 31, 2025. Use of Estimates in Preparation of Financial Statements The preparation of the accompanying financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The determination of the allowance for credit losses and valuation allowance on deferred tax assets are particularly subject to change in the near term. Actual results may differ from these estimates. The results of operations for the three and six months ended June 30, 2026, are not necessarily indicative of results that may be expected for any other interim period or the entire fiscal year ending December 31, 2026. 7 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Note 2: Debt Securities Our debt securities portfolio consists of an available for sale (“AFS”) and a held to maturity (“HTM”) securities portfolio, both of which represent interest earning debt securities. Debt Securities AFS The following table summarizes the amortized cost and estimated fair value of AFS securities on June 30, 2026 and December 31, 2025, and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Estimated ​ ​ Cost ​ Gains ​ (Losses) ​ Fair Value June 30, 2026 ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities ​ $ 7,581,567 $ — ​ $ ( 909,554 ) ​ $ 6,672,013 State and political subdivisions ​ 13,388,934 — ​ ( 1,380,468 ) ​ 12,008,466 Corporate securities ​ 3,473,827 — ​ ( 440,142 ) ​ 3,033,685 Total securities available for sale ​ $ 24,444,328 $ — ​ $ ( 2,730,164 ) ​ $ 21,714,164 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Estimated ​ ​ Cost ​ Gains ​ (Losses) ​ Fair Value December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities ​ $ 8,053,774 $ — ​ $ ( 866,049 ) ​ $ 7,187,725 State and political subdivisions ​ 13,392,267 — ​ ( 1,338,248 ) ​ 12,054,019 Corporate securities ​ 3,471,309 — ​ ( 423,644 ) ​ 3,047,665 Total securities available for sale ​ $ 24,917,350 $ — ​ $ ( 2,627,941 ) ​ $ 22,289,409 ​ There were no sales of AFS securities during the six months ended June 30, 2026 and 2025. The following tables show the fair value and gross unrealized losses of AFS debt securities in an unrealized loss position at June 30, 2026 and December 31, 2025, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less Than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ Estimated ​ ​ Unrealized ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized ​ ​ ​ Fair Value ​ ​ Loss ​ Fair Value ​ Loss ​ Fair Value ​ Loss June 30, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities $ — $ — ​ $ 6,672,013 ​ $ ( 909,554 ) ​ $ 6,672,013 ​ $ ( 909,554 ) State and political subdivisions — — ​ 12,008,466 ​ ( 1,380,468 ) ​ 12,008,466 ​ ( 1,380,468 ) Corporate securities — — ​ 3,033,685 ​ ( 440,142 ) ​ 3,033,685 ​ ( 440,142 ) Totals $ — $ — ​ $ 21,714,164 ​ $ ( 2,730,164 ) ​ $ 21,714,164 ​ $ ( 2,730,164 ) ​ ​ 8 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less Than 12 Months ​ 12 Months or More ​ Total ​ ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized ​ ​ Fair Value ​ Loss ​ Fair Value ​ Loss ​ Fair Value ​ Loss December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities $ — $ — ​ $ 7,187,725 ​ $ ( 866,049 ) ​ $ 7,187,725 ​ $ ( 866,049 ) State and political subdivisions — — ​ 12,054,019 ​ ( 1,338,248 ) ​ 12,054,019 ​ ( 1,338,248 ) Corporate securities — — ​ 3,047,665 ​ ( 423,644 ) ​ 3,047,665 ​ ( 423,644 ) Totals $ — $ — ​ $ 22,289,409 ​ $ ( 2,627,941 ) ​ $ 22,289,409 ​ $ ( 2,627,941 ) ​ At June 30, 2026, 48 debt securities designated as AFS were in an unrealized loss position. Based on our analysis of these securities, the decline in value was unrelated to credit loss and is related to changes in market interest rates since purchase, and therefore, changes in value for securities were included in other comprehensive income. In analyzing whether unrealized losses on debt securities are not related to credit losses, management takes into consideration, as applicable, whether the securities are issued by a governmental body or agency, whether the rating agency has downgraded the securities, industry analysts’ reports, the financial condition and performance of the issuer, and the quality of any underlying assets or credit enhancements. Market valuations and credit loss analysis on assets in the AFS securities portfolio are reviewed and monitored on a quarterly basis. None of the investments in our AFS securities portfolio were past due as of June 30, 2026. Management has the ability and intent to hold the securities for the foreseeable future and no declines are deemed to be related to credit losses; therefore, no provision for expected credit losses or allowance is carried for the AFS portfolio. The following is a summary of amortized cost and estimated fair value of debt securities by contractual maturity as of June 30, 2026. Contractual maturities will differ from expected maturities for mortgage-backed securities because borrowers may have the right to call or prepay obligations without penalties. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2026 ​ ​ ​ ​ ​ Estimated Available-for-sale ​ Amortized Cost ​ Fair Value Due in one year or less ​ ​ ​ $ — ​ ​ ​ $ — Due after one year through five years ​ 11,186,134 ​ 10,175,174 Due after five years through ten years ​ 5,676,627 ​ 4,866,977 Due after ten years ​ — ​ — ​ ​ ​ ​ ​ ​ ​ Subtotal ​ 16,862,761 ​ 15,042,151 Mortgage-backed securities ​ 7,581,567 ​ 6,672,013 Total ​ $ 24,444,328 ​ $ 21,714,164 ​ ​ 9 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Debt Securities HTM The following table summarizes the amortized cost and estimated fair value of HTM securities at June 30, 2026 and December 31, 2025, and the corresponding amounts of gross unrealized gains and losses. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Estimated June 30, 2026 ​ Cost ​ Gains ​ Losses ​ Fair Value Securities held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ U.S. government sponsored agencies ​ $ 27,530,412 $ 8,419 ​ ​ ( 203,628 ) ​ $ 27,335,203 U.S. Treasury securities ​ 3,657,508 640 ​ ( 3,938 ) ​ 3,654,210 Total securities held to maturity ​ $ 31,187,920 $ 9,059 ​ $ ( 207,566 ) ​ $ 30,989,413 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Estimated December 31, 2025 ​ Cost ​ Gains ​ Losses ​ Fair Value Securities held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government sponsored agencies ​ $ 27,632,778 ​ $ 297,140 ​ $ ( 9,549 ) ​ $ 27,920,369 U.S. Treasury securities ​ 8,798,979 ​ 30,464 ​ — ​ 8,829,443 Total securities held to maturity ​ $ 36,431,757 ​ $ 327,604 ​ $ ( 9,549 ) ​ $ 36,749,812 ​ Investment securities classified as HTM are recorded at amortized cost subject to measurement of credit losses on financial instruments, also known as Current Expected Credit Losses (“CECL”). This methodology consists of measuring the value of investments on a collective basis when similar risk characteristics exist. Our investment policy requires securities designated as HTM to carry an explicit or implicit guarantee of the United States Government (i.e., issued by the U.S. Treasury and federal agencies of the United States). Market valuations and credit loss analysis on assets in the HTM securities portfolio are reviewed and monitored on a quarterly basis. None of the investments in our HTM securities portfolio were past due as of June 30, 2026. An allowance for credit losses (“ACL”) is not calculated or recorded based on the implied guarantee of these securities. The following table summarizes the remaining contractual principal maturities of investment securities classified as HTM as of June 30, 2026. For United States agency debentures, the expected maturity is the actual contractual maturity of the notes. Expected remaining maturities for certain United States agency debentures may occur earlier than their contractual maturities because the note issuers have the right to call outstanding amounts ahead of their contractual maturity. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2026 ​ ​ Amortized ​ Estimated Held-to-maturity ​ Cost ​ Fair Value Due in one year or less ​ ​ ​ $ 2,966,740 ​ ​ ​ $ 2,968,043 Due after one year through five years ​ 17,936,953 ​ 17,852,846 Due after five years through ten years ​ 10,284,227 ​ 10,168,524 Total ​ $ 31,187,920 ​ $ 30,989,413 ​ ​ ​ 10 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Note 3: Loans and Allowance for Credit Losses A summary of loans by major category as of June 30, 2026 and December 31, 2025 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2026 ​ ​ ​ December 31, 2025 Real estate: ​ ​ ​ ​ ​ ​ One to four family residential ​ $ 125,354,683 ​ $ 129,672,893 Home equity ​ 1,869,908 ​ 1,975,201 Equity line of credit ​ 8,177,998 ​ 6,930,038 Construction ​ 12,786,675 ​ 12,175,080 Multi-family ​ 1,201,689 ​ 1,067,972 Commercial ​ 1,886,056 ​ 1,936,965 Commercial installment ​ 3,694,907 ​ 3,505,245 Consumer: ​ ​ ​ ​ Marine and recreational ​ 29,664,230 ​ 30,242,927 Other consumer ​ 2,580,142 ​ 3,207,401 ​ ​ ​ ​ ​ ​ Subtotal ​ 187,216,288 ​ 190,713,722 Allowance for credit losses ​ ( 1,182,780 ) ​ ( 1,142,629 ) Unearned loan fees ​ ( 162,585 ) ​ ( 155,572 ) Loans, net ​ $ 185,870,923 ​ $ 189,415,521 ​ Changes in the allowance for the three and six months ended June 30, 2026 and 2025, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, 2026 ​ ​ Beginning ​ Provision for ​ ​ ​ ​ ​ ​ ​ Ending ​ ​ Balance ​ Credit Loss ​ Charge-offs ​ ​ Recoveries ​ Balance Real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One to four family residential ​ $ 605,128 ​ $ ( 71,543 ) $ — $ — ​ $ 533,585 Home equity ​ 9,081 ​ ( 1,122 ) ​ — — ​ 7,959 Equity line of credit ​ 35,920 ​ ( 1,110 ) ​ — — ​ 34,810 Construction ​ 136,336 ​ 6,934 ​ — — ​ 143,270 Multi-family ​ 5,875 ​ ( 760 ) ​ — — ​ 5,115 Commercial ​ 20,312 ​ ( 423 ) ​ — — ​ 19,889 Commercial installment ​ 49,882 ​ ( 2,341 ) ​ — — ​ 47,541 Consumer: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marine and recreational ​ 280,267 ​ 108,862 ​ ( 27,840 ) — ​ 361,289 Other consumer ​ 23,630 ​ 4,902 ​ — 790 ​ 29,322 Total ​ $ 1,166,431 ​ $ 43,399 ​ $ ( 27,840 ) $ 790 ​ $ 1,182,780 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2026 ​ ​ Beginning ​ Provision for ​ ​ ​ ​ ​ ​ ​ Ending ​ ​ Balance ​ Credit Loss ​ Charge-offs ​ ​ Recoveries ​ Balance Real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One to four family residential ​ $ 601,094 ​ $ ( 67,509 ) $ — $ — ​ $ 533,585 Home equity ​ 9,156 ​ ( 1,197 ) ​ — — ​ 7,959 Equity line of credit ​ 32,124 ​ 2,686 ​ — — ​ 34,810 Construction ​ 136,781 ​ 6,489 ​ — — ​ 143,270 Multi-family ​ 4,951 ​ 164 ​ — — ​ 5,115 Commercial ​ 19,727 ​ 162 ​ — — ​ 19,889 Commercial installment ​ 35,804 ​ 11,737 ​ — — ​ 47,541 Consumer: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marine and recreational ​ 277,395 ​ 137,611 ​ ( 53,717 ) — ​ 361,289 Other consumer ​ 25,597 ​ 1,945 ​ — 1,780 ​ 29,322 Total ​ $ 1,142,629 ​ $ 92,088 ​ $ ( 53,717 ) $ 1,780 ​ $ 1,182,780 11 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, 2025 ​ ​ Beginning ​ Provision for ​ ​ ​ ​ ​ ​ ​ Ending ​ ​ Balance ​ Credit Loss ​ Charge-offs ​ Recoveries ​ Balance Real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One to four family residential ​ $ 739,393 $ ( 46,277 ) $ — $ — ​ $ 693,116 Home equity ​ 12,660 ​ ( 1,735 ) ​ — ​ — ​ 10,925 Equity line of credit ​ 33,051 ​ 2,853 ​ — ​ — ​ 35,904 Construction ​ 99,470 ​ 21,162 ​ — ​ — ​ 120,632 Multi-family ​ 7,827 ​ ( 1,505 ) ​ — ​ — ​ 6,322 Commercial ​ 24,803 ​ ( 1,510 ) ​ — ​ — ​ 23,293 Commercial Installment ​ 38,567 ​ ( 1,210 ) ​ — ​ — ​ 37,357 Consumer: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marine and recreational ​ 207,041 ​ 35,853 ​ — ​ — ​ 242,894 Other consumer ​ 27,443 ​ ( 1,534 ) ​ — ​ — ​ 25,909 Total ​ $ 1,190,255 $ 6,097 $ — ​ $ — ​ $ 1,196,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2025 ​ ​ Beginning ​ Provision for ​ ​ ​ ​ ​ ​ ​ Ending ​ ​ Balance ​ Credit Loss ​ Charge-offs ​ Recoveries ​ Balance Real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One to four family residential ​ $ 639,578 $ 53,538 $ — $ — ​ $ 693,116 Home equity ​ 11,020 ​ ( 95 ) ​ — ​ — ​ 10,925 Equity line of credit ​ 28,634 ​ 7,270 ​ — ​ — ​ 35,904 Construction ​ 73,444 ​ 47,188 ​ — ​ — ​ 120,632 Multi-family ​ 6,251 ​ 71 ​ — ​ — ​ 6,322 Commercial ​ 30,624 ​ ( 7,331 ) ​ — ​ — ​ 23,293 Commercial Installment ​ 42,629 ​ ( 5,272 ) ​ — ​ — ​ 37,357 Consumer: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marine and recreational ​ 259,197 ​ ( 16,303 ) ​ — ​ — ​ 242,894 Other consumer ​ 35,045 ​ ( 9,136 ) ​ — ​ — ​ 25,909 Total ​ $ 1,126,422 $ 69,930 $ — ​ $ — ​ $ 1,196,352 ​ The ACL on loans excludes $ 140,892 of allowance for unfunded commitments as of June 30, 2026 and $ 130,786 as of December 31, 2025 which is recorded within accrued interest payable and other liabilities on the Consolidated Balance Sheets. A provision for credit loss on unfunded loan commitments of $ 5,902 and $ 9,276 was made for the three months ended June 30, 2026 and 2025, respectively. A provision for credit loss on unfunded loan commitments of $ 10,106 and $ 55,733 was made for the six months ended June 30, 2026 and 2025, respectively. ​ As of June 30, 2026, there was one collateral dependent loan totaling $ 72,901 in the one-to-four family real estate loan segment secured by a residential property and did not carry a specific allocation to the ACL. There was one collateral dependent loan totaling $ 44,064 in the marine and recreational loan segment secured by a boat and did not carry a specific allocation to the ACL as of June 30, 2026. Additionally, there was one collateral dependent loan totaling $ 40,665 in the marine and recreational loan segment carrying a specific allocation of $ 24,165 to the ACL as of June 30, 2026. As of December 31, 2025, there were three collateral dependent loans totaling $ 301,838 . One of the loans with outstanding principal of $ 294,557 is in the one-to-four family residential loan category and two loans totaling $ 7,281 are in the other consumer loan segment and were secured by automobiles. The aforementioned loans do not have a specific allocation of the ACL as of December 31, 2025. The Company regularly evaluates various attributes of loans to determine the appropriateness of the allowance for credit losses. The credit quality indicators monitored differ depending on the class of loan. 12 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Multi-family, commercial real estate, and commercial installment loans are generally evaluated using the following internally prepared ratings: ● Pass ratings are assigned to loans with adequate collateral and debt service ability such that collectability of the contractual loan payments is highly probable. ● Special mention ratings are assigned to loans where management has some concern that the collateral or debt service ability may not be adequate, though the collectability of the contractual loan payments is still probable. ● Substandard ratings are assigned to loans that do not have adequate collateral and/or debt service ability such that collectability of the contractual loan payments is no longer probable. ● Doubtful ratings are assigned to loans that do not have adequate collateral and/or debt service ability, and collectability of the contractual loan payments is unlikely. One to four family residential, home equity, equity line of credit, construction, marine and recreational, and other consumer loans are generally evaluated based on whether the loan is performing according to the contractual terms of the loan. ​ 13 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY The following tables present the credit risk profile of the Company’s loan portfolio based on risk rating category and year of origination at June 30, 2026 and December 31, 2025. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Loans by Origination Year ​ ​ 2026 ​ 2025 ​ 2024 ​ 2023 ​ 2022 ​ Prior ​ Revolving ​ Total At June 30, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One to four family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 5,974,095 ​ $ 13,673,406 ​ $ 16,215,541 ​ $ 6,909,020 ​ $ 28,844,335 ​ $ 53,665,385 ​ $ — ​ $ 125,281,782 Non performing ​ — ​ 72,901 ​ — ​ — ​ — ​ — ​ — ​ 72,901 Total one to four family residential ​ $ 5,974,095 ​ $ 13,746,307 ​ $ 16,215,541 ​ $ 6,909,020 ​ $ 28,844,335 ​ $ 53,665,385 ​ $ — ​ $ 125,354,683 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Home equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 328,439 ​ $ 286,402 ​ $ 647,673 ​ $ 238,263 ​ $ 268,838 ​ $ 100,293 ​ $ — ​ $ 1,869,908 Non performing ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total home equity ​ $ 328,439 ​ $ 286,402 ​ $ 647,673 ​ $ 238,263 ​ $ 268,838 ​ $ 100,293 ​ $ — ​ $ 1,869,908 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Equity line of credit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 8,177,998 ​ $ 8,177,998 Non performing ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total equity line of credit ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 8,177,998 ​ $ 8,177,998 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 2,661,426 ​ $ 8,467,051 ​ $ 1,354,944 ​ $ 115,672 ​ $ 60,610 ​ $ 126,972 ​ $ — ​ $ 12,786,675 Non performing ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total construction ​ $ 2,661,426 ​ $ 8,467,051 ​ $ 1,354,944 ​ $ 115,672 ​ $ 60,610 ​ $ 126,972 ​ $ — ​ $ 12,786,675 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Multi-family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 907,647 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 294,042 ​ $ — ​ $ 1,201,689 Special mention ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total multi-family ​ $ 907,647 ​ $ — ​ — ​ $ — ​ — ​ $ 294,042 ​ $ — ​ $ 1,201,689 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ — ​ $ 58,388 ​ $ 470,056 ​ $ 139,018 ​ $ 959,688 ​ $ 258,906 ​ $ — ​ $ 1,886,056 Special mention ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total commercial ​ $ — ​ $ 58,388 ​ $ 470,056 ​ $ 139,018 ​ $ 959,688 ​ $ 258,906 ​ $ — ​ $ 1,886,056 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Commercial installment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 1,122,851 ​ $ 811,099 ​ $ 110,938 ​ $ 155,968 ​ $ 194,544 ​ $ 1,299,507 ​ $ — ​ $ 3,694,907 Special mention ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total commercial installment ​ $ 1,122,851 ​ $ 811,099 ​ $ 110,938 ​ $ 155,968 ​ $ 194,544 ​ $ 1,299,507 ​ $ — ​ $ 3,694,907 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marine and recreational ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 3,482,962 ​ $ 5,293,500 ​ $ 4,817,316 ​ $ 5,256,810 ​ $ 1,846,844 ​ $ 8,898,569 ​ $ — ​ $ 29,596,001 Non performing ​ ​ — ​ — ​ — ​ 24,165 ​ — ​ 44,064 ​ — ​ 68,229 Total marine and recreational ​ $ 3,482,962 ​ $ 5,293,500 ​ $ 4,817,316 ​ $ 5,280,975 ​ $ 1,846,844 ​ $ 8,942,633 ​ $ — ​ $ 29,664,230 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ 27,840 ​ 25,877 ​ — ​ 53,717 Other consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 232,082 ​ $ 558,587 ​ $ 504,037 ​ $ 327,600 ​ ​ 299,317 ​ $ 658,519 ​ $ — ​ $ 2,580,142 Non performing ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total other consumer ​ $ 232,082 ​ $ 558,587 ​ $ 504,037 ​ $ 327,600 ​ $ 299,317 ​ $ 658,519 ​ $ — ​ $ 2,580,142 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total loans ​ $ 14,709,502 ​ $ 29,221,334 ​ $ 24,120,505 ​ $ 13,166,516 ​ $ 32,474,176 ​ $ 65,346,257 ​ $ 8,177,998 ​ $ 187,216,288 Total current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ 27,840 ​ 25,877 ​ — ​ ​ 53,717 ​ ​ 14 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Loans by Origination Year ​ ​ 2025 ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ Prior ​ Revolving ​ Total At December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One to four family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 13,673,316 ​ $ 19,779,834 ​ $ 7,998,043 ​ $ 30,001,104 ​ $ 10,818,144 ​ $ 47,107,895 ​ $ — ​ $ 129,378,336 Non performing ​ — ​ — ​ — ​ — ​ — ​ 294,557 ​ — ​ 294,557 Total one to four family residential ​ $ 13,673,316 ​ $ 19,779,834 ​ $ 7,998,043 ​ $ 30,001,104 ​ $ 10,818,144 ​ $ 47,402,452 ​ $ — ​ $ 129,672,893 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ 686 ​ — ​ 686 Home equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 301,733 ​ $ 807,240 ​ $ 465,994 ​ $ 286,981 ​ $ 15,261 ​ $ 97,992 ​ $ — ​ $ 1,975,201 Non performing ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total home equity ​ $ 301,733 ​ $ 807,240 ​ $ 465,994 ​ $ 286,981 ​ $ 15,261 ​ $ 97,992 ​ $ — ​ $ 1,975,201 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Equity line of credit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 6,930,038 ​ $ 6,930,038 Non performing ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total equity line of credit ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 6,930,038 ​ $ 6,930,038 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 9,384,639 ​ $ 2,475,561 ​ $ 119,018 ​ $ 62,686 ​ $ — ​ $ 133,176 ​ $ — ​ $ 12,175,080 Non performing ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total construction ​ $ 9,384,639 ​ $ 2,475,561 ​ $ 119,018 ​ $ 62,686 ​ $ — ​ $ 133,176 ​ $ — ​ $ 12,175,080 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Multi-family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 201,072 ​ $ 866,900 ​ $ — ​ $ 1,067,972 Special mention ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total multi-family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 201,072 ​ $ 866,900 ​ $ — ​ $ 1,067,972 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 59,001 ​ $ 476,965 ​ $ 143,525 ​ $ 978,898 ​ $ 224,550 ​ $ 54,026 ​ $ — ​ $ 1,936,965 Special mention ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total commercial ​ $ 59,001 ​ $ 476,965 ​ $ 143,525 ​ $ 978,898 ​ $ 224,550 ​ $ 54,026 ​ $ — ​ $ 1,936,965 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Commercial installment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 1,284,063 ​ $ 120,517 ​ $ 164,205 ​ $ 220,173 ​ $ 757,869 ​ $ 958,418 ​ $ — ​ $ 3,505,245 Special mention ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total commercial installment ​ $ 1,284,063 ​ $ 120,517 ​ $ 164,205 ​ $ 220,173 ​ $ 757,869 ​ $ 958,418 ​ $ — ​ $ 3,505,245 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marine and recreational ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 6,169,142 ​ $ 5,362,958 ​ $ 6,046,790 ​ $ 2,122,067 ​ $ 393,319 ​ $ 10,148,651 ​ $ — ​ $ 30,242,927 Non performing ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total marine and recreational ​ $ 6,169,142 ​ $ 5,362,958 ​ $ 6,046,790 ​ $ 2,122,067 ​ $ 393,319 ​ $ 10,148,651 ​ $ — ​ $ 30,242,927 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ 72,030 ​ 7,841 ​ — ​ 79,871 Other consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 782,570 ​ $ 708,503 ​ $ 484,533 ​ $ 422,512 ​ ​ 103,832 ​ $ 698,170 ​ $ — ​ $ 3,200,120 Non performing ​ — ​ — ​ — ​ — ​ — ​ 7,281 ​ — ​ 7,281 Total other consumer ​ $ 782,570 ​ $ 708,503 ​ $ 484,533 ​ $ 422,512 ​ $ 103,832 ​ $ 705,451 ​ $ — ​ $ 3,207,401 Current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total loans ​ $ 31,654,464 ​ $ 29,731,578 ​ $ 15,422,108 ​ $ 34,094,421 ​ $ 12,514,047 ​ $ 60,367,066 ​ $ 6,930,038 ​ $ 190,713,722 Total current year-to-date gross write-offs ​ ​ — ​ — ​ — ​ — ​ 72,030 ​ 8,527 ​ — ​ ​ 80,557 ​ ​ 15 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Loan aging information as of June 30, 2026 and December 31, 2025, follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accruing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans Past ​ Loans ​ Nonaccrual ​ Nonaccrual ​ Nonaccrual ​ ​ ​ ​ ​ Current ​ Due 31-89 ​ Past Due ​ loans beginning ​ loans end ​ end of period ​ ​ ​ ​ ​ Loans ​ Days ​ 90+ Days ​ of period ​ of period ​ with an ACL ​ Total Loans June 30, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One to four family residential ​ $ 125,026,749 ​ $ 255,033 $ — ​ $ 294,557 ​ $ 72,901 ​ $ — ​ $ 125,354,683 Home equity ​ 1,869,908 ​ — — ​ — ​ — ​ — ​ 1,869,908 Equity line of credit ​ 8,177,998 ​ — — ​ — ​ — ​ — ​ 8,177,998 Construction ​ 12,786,675 ​ — — ​ — ​ — ​ — ​ 12,786,675 Multi-family ​ 1,201,689 ​ — — ​ — ​ — ​ — ​ 1,201,689 Commercial ​ 1,886,056 ​ — — ​ — ​ — ​ — ​ 1,886,056 Commercial installment ​ 3,694,907 ​ — — ​ — ​ — ​ — ​ 3,694,907 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marine and recreational ​ 29,390,484 ​ 229,682 — ​ — ​ 44,064 ​ — ​ 29,664,230 Other consumer ​ 2,503,074 ​ 77,068 — ​ 7,281 ​ — ​ — ​ 2,580,142 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Totals ​ $ 186,537,540 ​ $ 561,783 $ — ​ $ 301,838 ​ $ 116,965 ​ $ — ​ $ 187,216,288 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accruing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans Past ​ Loans ​ Nonaccrual ​ Nonaccrual ​ Nonaccrual ​ ​ ​ ​ ​ Current ​ Due 31-89 ​ Past Due ​ loans beginning ​ loans end ​ end of period ​ ​ ​ ​ ​ Loans ​ Days ​ 90+ Days ​ of period ​ of period ​ with an ACL ​ Total Loans December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real estate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One to four family residential ​ $ 128,279,630 ​ $ 1,098,706 $ — ​ $ — ​ $ 294,557 ​ $ — ​ $ 129,672,893 Home equity ​ 1,975,201 ​ — — ​ — ​ — ​ — ​ 1,975,201 Equity line of credit ​ 6,930,038 ​ — — ​ — ​ — ​ — ​ 6,930,038 Construction ​ 12,175,080 ​ — — ​ — ​ — ​ — ​ 12,175,080 Multi-family ​ 1,067,972 ​ — — ​ — ​ — ​ — ​ 1,067,972 Commercial ​ 1,936,965 ​ — — ​ — ​ — ​ — ​ 1,936,965 Commercial installment ​ 3,505,245 ​ — — ​ — ​ — ​ — ​ 3,505,245 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — Marine and recreational ​ 30,014,090 ​ 228,837 — ​ — ​ — ​ — ​ 30,242,927 Other consumer ​ 3,200,120 ​ — — ​ 12,704 ​ 7,281 ​ — ​ 3,207,401 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Totals ​ $ 189,084,341 ​ $ 1,327,543 ​ $ — ​ $ 12,704 ​ $ 301,838 ​ $ — ​ $ 190,713,722 ​ Interest income received on nonaccrual loans is considered to be immaterial to the consolidated financial statements. The Bank may modify loans to borrowers experiencing financial difficulty by providing modifications to repayment terms. There were no loans subject to such modifications as of June 30, 2026 or December 31, 2025. 16 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY A summary of loans to directors, executive officers, and their affiliates as of June 30, 2026 and December 31, 2025 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2026 ​ ​ ​ December 31, 2025 Balance at beginning of period ​ $ 16,031 ​ $ 44,715 New loans ​ 3,021 ​ — Repayments ​ ( 5,604 ) ​ ( 28,684 ) ​ ​ ​ ​ ​ ​ Balance at end of period ​ $ 13,448 ​ $ 16,031 ​ ​ Note 4: Deposits The composition of deposits at June 30, 2026 and December 31, 2025 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2026 ​ ​ ​ December 31, 2025 Non-interest-bearing demand ​ $ 10,750,903 ​ $ 7,696,247 Interest-bearing demand ​ 28,620,942 ​ 28,927,813 Savings ​ 31,416,445 ​ 29,594,042 Money market ​ 41,548,016 ​ 38,911,518 Certificates of deposit ​ 112,527,476 ​ 112,120,928 ​ ​ ​ ​ ​ ​ ​ Total deposits ​ $ 224,863,782 ​ $ 217,250,548 ​ The aggregate amount of certificates of deposit in denominations of $250,000 or more at June 30, 2026 and December 31, 2025 was approximately $ 17,844,000 and $ 17,866,000 , respectively. The scheduled maturities of certificates of deposit as of June 30, 2026 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve months ended June 30, ​ ​ Amount 2027 ​ ​ ​ $ 92,889,844 2028 ​ 10,198,971 2029 ​ 3,978,252 2030 ​ 4,543,341 2031 ​ 917,068 ​ ​ ​ ​ Total ​ $ 112,527,476 ​ Deposits from directors, executive officers, and their affiliates totaled $ 3,504,286 and $ 2,697,856 at June 30, 2026 and December 31, 2025, respectively. ​ 17 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Note 5: Borrowed Funds Borrowed funds consisted of the following at June 30, 2026 and December 31, 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2026 ​ December 31, 2025 ​ ​ Weighted Average Rate ​ Amount ​ Weighted Average Rate ​ Amount Federal Home Loan Bank: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed rate, short term advances ​ n/a % $ — ​ 3.80 % $ 1,306,000 Fixed rate, fixed term advances ​ 3.54 % 23,417,549 ​ 3.82 % 37,062,820 Total borrowings ​ ​ ​ $ 23,417,549 ​ ​ ​ $ 38,368,820 ​ The Company utilizes fixed rate short term advances from the Federal Home Loan Bank (“FHLB”) as a flexible source of liquidity. Terms of these advances range from 1 – 27 days . The following is a summary of scheduled maturities of non-short term borrowed funds as of June 30, 2026: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average Rate ​ ​ ​ Amount 2026 ​ n/a % $ — 2027 ​ 3.87 % ​ 5,000,000 2028 ​ 3.64 % ​ 13,968,729 2029 ​ 3.11 % ​ 3,549,320 2030 ​ 1.79 % ​ 899,500 ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ $ 23,417,549 ​ Actual maturities may differ from the scheduled principal maturities due to call options on the various advances. The Company has a master contract agreement with the FHLB that provides for borrowing up to a FHLB determined percent of the book value of the Company’s qualifying one- to four-family residential real estate loans other pledgeable loans and investments. The loans pledged as security for FHLB borrowings totaled approximately $ 59,956,000 and $ 66,499,000 at June 30, 2026 and December 31, 2025, respectively. Investment securities pledged for FHLB borrowings totaled approximately $ 8,353,000 at June 30, 2026. No investment securities were pledged at December 31, 2025. FHLB advances are also secured by $ 2,702,857 of FHLB stock owned by the Company at June 30, 2026 and $ 2,759,245 of FHLB stock owned by the Company at December 31, 2025. At June 30, 2026, the Company has unused borrowing capacity of $ 43,657,000 based on total collateral pledged as of this date. The Company will be required to purchase additional FHLB activity stock to support borrowings beyond current activity stock holdings. At June 30, 2026 and December 31, 2025, the Company has short-term borrowing availability through the Federal Reserve Bank’s discount window of up to $ 25.0 million. The Company is required to pledge securities and/or loans in order to borrow at the discount window and had approximately $ 17.2 million and $ 8.4 million in held to maturity investment securities pledged as of June 30, 2026 and December 31, 2025, respectively. The collateral value and related borrowing availability of the pledged securities is approximately $ 17.2 million and $ 8.1 million as of June 30, 2026 and December 31, 2025. The Company had no short-term borrowings through the Federal Reserve discount window as of June 30, 2026 and December 31, 2025. At June 30, 2026 and December 31, 2025, the Company had an unsecured $ 6.0 million federal funds line of credit with a correspondent bank. ​ 18 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY Note 6: Income Taxes Management continued to assess the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit the use of the existing deferred tax assets, including net operating losses for federal and state income tax purposes. A significant piece of objective negative evidence evaluated is the cumulative taxable losses incurred during the six-month period ended June 30, 2026 and during the four preceding calendar years. Such objective negative evidence limits the ability to consider other subjective evidence such as our projections for future growth and taxable income. On the basis of this evaluation, a valuation allowance of $ 3.5 million and $ 3.3 million has been recorded as of June 30, 2026 and December 31, 2025, respectively to recognize only the portions of the deferred tax asset that is more likely than not to be realized. The primary differences between income taxes at the federal statutory rate and the provision for income taxes during the periods presented include state taxes, tax-exempt interest and non-interest income, and the recording of the valuation allowance. The major components of the net deferred tax assets as of June 30, 2026 and December 31, 2025, are presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2026 ​ ​ ​ December 31, 2025 Deferred tax assets ​ ​ ​ ​ ​ ​ Net operating losses and temporary differences net of deferred tax liabilities ​ $ 3,483,557 ​ $ 3,297,641 Unrealized loss on securities available for sale and held to maturity ​ ​ 1,748,103 ​ ​ 1,844,846 ​ ​ ​ ​ ​ ​ ​ Total deferred tax assets ​ 5,231,660 ​ 5,142,487 Valuation allowance ​ ​ ( 3,483,557 ) ​ ​ ( 3,297,641 ) Net deferred tax asset ​ $ 1,748,103 ​ $ 1,844,846 ​ ​ ​ Note 7: Equity and Regulatory Matters The Bank is subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum regulatory capital amounts and ratios (set forth in the table on the next page). It is management’s opinion, as of June 30, 2026, that the Bank meets all applicable statutory capital adequacy requirements. As of June 30, 2026, the Bank is categorized as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum regulatory capital ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the Bank’s category. The payment of dividends by the Bank would be restricted if the Bank does not meet the minimum Capital Conservation Buffer as defined by Basel III regulatory capital guidelines and/or if, after payment of the dividend, the Bank would be unable to maintain satisfactory regulatory capital ratios. 19 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY The Bank’s actual capital amounts and ratios as of June 30, 2026 and December 31, 2025, are presented in the following tables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To Be Well Capitalized ​ ​ ​ ​ ​ ​ ​ ​ For Capital Adequacy ​ Under Prompt Corrective ​ ​ ​ Actual ​ Purposes ​ Action Provisions ​ (Dollars in Thousands) ​ ​ ​ Amount ​ ​ ​ Ratio ​ ​ ​ Amount ​ ​ ​ Ratio ​ ​ ​ Amount ​ ​ ​ Ratio ​ June 30, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Equity Tier 1 capital (to risk-weighted assets) ​ $ 19,009 ​ 11.8 % ≥ $ 7,246 ​ ≥ 4.5 % ≥ $ 10,467 ​ ≥ 6.5 % Tier 1 capital (to risk-weighted assets) ​ ​ 19,009 ​ 11.8 % ≥ 9,662 ​ ≥ 6.0 % ≥ 12,882 ​ ≥ 8.0 % Total capital (to risk-weighted assets) ​ ​ 20,333 ​ 12.6 % ≥ 12,882 ​ ≥ 8.0 % ≥ 16,103 ​ ≥ 10.0 % Tier 1 capital (to average assets) ​ ​ 19,009 ​ 7.1 % ≥ 10,664 ​ ≥ 4.0 % ≥ 13,331 ​ ≥ 5.0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To Be Well Capitalized ​ ​ ​ ​ ​ ​ ​ ​ For Capital Adequacy ​ Under Prompt Corrective ​ ​ ​ Actual ​ Purposes ​ Action Provisions ​ (Dollars in Thousands) ​ ​ ​ Amount ​ ​ ​ Ratio ​ ​ ​ Amount ​ ​ ​ Ratio ​ ​ ​ Amount ​ ​ ​ Ratio ​ December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Equity Tier 1 capital (to risk-weighted assets) ​ $ 17,228 ​ 10.8 % ≥ $ 7,190 ​ ≥ 4.5 % ≥ $ 10,385 ​ ≥ 6.5 % Tier 1 capital (to risk-weighted assets) ​ 17,228 ​ 10.8 % ≥ 9,586 ​ ≥ 6.0 % ≥ 12,781 ​ ≥ 8.0 % Total capital (to risk-weighted assets) ​ 18,501 ​ 11.6 % ≥ 12,781 ​ ≥ 8.0 % ≥ 15,977 ​ ≥ 10.0 % Tier 1 capital (to average assets) ​ 17,228 ​ 6.1 % ≥ 11,264 ​ ≥ 4.0 % ≥ 14,080 ​ ≥ 5.0 % ​ In addition to the above minimum regulatory capital measures, the Board of Directors has designated that the Bank will have and maintain its tier one capital as a percentage of average total assets at a minimum of 8.0 % and its level of total capital to risk-weighted assets at a minimum of 11.0 % . At June 30, 2026, the Bank’s tier one capital as a percentage of average total assets capital ratio of 7.1 % was not in compliance with the minimum ratio as designated by the Board of Directors. The Bank’s total capital to risk-weighted assets ratio of 12.6 % was in compliance with the minimum ratio designated by the Board of Directors. In addition to the above minimum regulatory capital measures, the State of Wisconsin requires a state-chartered savings bank to maintain a net worth ratio in an amount not less than 6 %. At June 30, 2026, the Bank’s net worth ratio of 5.77 % was not in compliance with the minimum requirement. Note 8: Fair Value Measurements Accounting standards describe three levels of inputs that may be used to measure fair value (the fair value hierarchy). The level of an asset or liability within the fair value hierarchy is based on the lowest level of input significant to the fair value measurement of that asset or liability. Following is a brief description of each level of the fair value hierarchy: Level 1 - Fair value measurement is based on quoted prices for identical assets or liabilities in active observable markets. Level 2 - Fair value measurement is based on: (1) quoted prices for similar assets or liabilities in active markets; (2) quoted prices for identical or similar assets or liabilities in markets that are not active; or (3) valuation 20 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY models and methodologies for which all significant assumptions are or can be corroborated by observable market data. Level 3 - Fair value measurement is based on valuation models and methodologies that incorporate at least one significant assumption that cannot be corroborated by observable market data. Level 3 measurements reflect the Company’s estimates about assumptions market participants would use if measured at fair value on a recurring basis under GAAP. Some assets and liabilities, such as securities available for sale, are measured at fair value on a recurring basis under GAAP. Other assets and liabilities, such as individually evaluated loans, may be measured at fair value on a nonrecurring basis. As of June 30, 2026 and December 31, 2025, the Company did not have any significant assets or liabilities that were measured at fair value on a nonrecurring basis. Following is a description of the valuation methodology and significant inputs used for each asset measured at fair value on a recurring basis, as well as the classification of the asset within the fair value hierarchy. Securities available for sale - Securities available for sale are classified as Level 2 measurements within the fair value hierarchy. Level 2 securities include U.S. government sponsored agencies, obligations of states and political subdivisions, corporate securities, and mortgaged-backed securities. The fair value measurement of a Level 2 security is based on recent sales of similar securities and other observable market data. Fair value hedge – Fair value hedges are classified as Level 2 measurements within the fair value hierarchy. The fair value measurement is based on the current observable market interest rates. Information regarding the fair value of assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025, follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recurring Fair Value Measurements Using ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ Assets ​ Markets for ​ Other ​ ​ Significant ​ ​ Measured at ​ Identical ​ Observable ​ ​ Unobservable ​ ​ Fair Value ​ Instruments ​ Inputs ​ ​ Inputs ​ ​ ​ ​ June 30, 2026 ​ (Level 1) ​ ​ ​ (Level 2) ​ ​ ​ ​ (Level 3) Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities ​ $ 6,672,013 ​ $ — ​ $ 6,672,013 ​ $ — State and political subdivisions ​ ​ 12,008,466 ​ ​ — ​ ​ 12,008,466 ​ ​ — Corporate securities ​ ​ 3,033,685 ​ ​ — ​ ​ 3,033,685 ​ ​ — Total securities available for sale ​ $ 21,714,164 ​ $ — ​ $ 21,714,164 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value hedge on fixed rate loans ​ $ 220,071 ​ $ — ​ $ 220,071 ​ $ — ​ ​ 21 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recurring Fair Value Measurements Using ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ Assets ​ Markets for ​ Other ​ ​ Significant ​ ​ Measured at ​ Identical ​ Observable ​ ​ Unobservable ​ ​ Fair Value ​ Instruments ​ Inputs ​ ​ Inputs ​ ​ ​ ​ December 31, 2025 ​ (Level 1) ​ ​ ​ (Level 2) ​ ​ ​ ​ (Level 3) Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities ​ $ 7,187,725 ​ $ — ​ $ 7,187,725 ​ $ — State and political subdivisions ​ 12,054,019 ​ — ​ 12,054,019 ​ — Corporate securities ​ 3,047,665 ​ — ​ 3,047,665 ​ — Total securities available for sale ​ $ 22,289,409 ​ $ — ​ $ 22,289,409 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Fair value hedge on fixed rate loans ​ $ 142,064 ​ $ — ​ $ 142,064 ​ $ — ​ ​ ​ Note 9: Fair Value of Financial Instruments Financial instruments are classified within the fair value hierarchy using the methodologies described in Note 8 – Fair Value Measurements. The following disclosures include financial instruments that are not carried at fair value on the Consolidated Balance Sheets. The calculation of estimated fair values is based on market conditions at a specific point in time and may not reflect current or future fair values. Certain financial instruments generally expose the Company to limited credit risk and have no stated maturities or have short-term maturities and carry interest rates that approximate market. The carrying value of these financial instruments assumes to approximate the fair value of these instruments. These instruments include cash and cash equivalents, non-interest-bearing deposit accounts, time deposits with other financial institutions, FHLB stock, escrow deposits, FHLB advances and accrued interest receivable and payable. The fair market values of loans and interest-bearing deposits are calculated using the discounted cash flow (present value) method. The carrying amounts and estimated fair values by fair value hierarchy of certain financial instruments as of June 30, 2026 and December 31, 2025, follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated ​ ​ Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ June 30, 2026 ​ ​ ​ (Level 1) ​ ​ ​ (Level 2) ​ ​ ​ (Level 3) ​ ​ ​ June 30, 2026 Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HTM debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government sponsored agencies ​ $ 27,530,412 ​ $ — ​ $ 27,335,203 ​ $ — ​ $ 27,335,203 U.S. Treasury securities ​ $ 3,657,508 ​ $ 3,654,210 ​ $ — ​ $ — ​ $ 3,654,210 Loans, net ​ $ 185,870,923 ​ $ — ​ $ — ​ $ 177,221,000 ​ $ 177,221,000 Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest-bearing deposits ​ $ 214,112,879 ​ $ — ​ $ 203,197,000 ​ $ — ​ $ 203,197,000 Fixed rate, fixed term FHLB advances ​ $ 23,417,549 ​ $ — ​ $ 23,193,585 ​ $ — ​ $ 23,193,585 ​ ​ 22 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated ​ ​ Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ December 31, 2025 ​ ​ ​ (Level 1) ​ ​ ​ (Level 2) ​ ​ ​ (Level 3) ​ ​ ​ December 31, 2025 Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HTM debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government sponsored agencies ​ $ 27,632,778 ​ $ — ​ $ 27,920,369 ​ $ — ​ $ 27,920,369 U.S. Treasury securities ​ $ 8,798,979 ​ $ 8,829,443 ​ $ — ​ $ — ​ $ 8,829,443 Loans, net ​ $ 189,415,521 ​ $ — ​ $ — ​ $ 184,275,000 ​ $ 184,275,000 Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest-bearing deposits ​ $ 209,554,301 ​ $ — ​ $ 198,751,000 ​ $ — ​ $ 198,751,000 Fixed rate, fixed term FHLB advances ​ $ 37,062,820 ​ $ — ​ $ 37,175,221 ​ $ — ​ $ 37,175,221 ​ ​ ​ Note 10: Derivatives The Company’s objectives in using interest rate derivatives are to add stability to interest income and expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. The aggregate fair value of the swaps are recorded in other assets or other liabilities with changes in fair value recorded as gains or losses in noninterest income or noninterest expense on the consolidated statements of operations. The Company utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate swap does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreements. Fair Value Hedge: An interest rate swap with a notional amount totaling $ 25.0 million as of June 30, 2026 and December 31, 2025 was designated as a fair value last of layer hedge for certain fixed rate prepayable loans. ​ Note 11: Earnings Per Share (“EPS”) Basic EPS represents income available to common stockholders divided by weighted-average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common shares (such as stock options) were exercised or converted into additional common shares that should then share in the earnings of the Company. Diluted EPS is computed by dividing net income attributed to common stockholders by the weighted-average number of common shares outstanding for the period, plus the effect of potential dilutive common share equivalents. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, 2026 ​ Three Months Ended June 30, 2025 ​ Six Months Ended June 30, 2026 ​ Six Months Ended June 30, 2025 Net income (loss) applicable to common shares outstanding $ ( 314,524 ) ​ $ ( 278,660 ) ​ $ ( 679,304 ) ​ $ ( 847,301 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average number of common shares outstanding 758,289 ​ 752,538 ​ 755,430 ​ 752,538 Less: Average unallocated ESOP shares ​ ​ 46,422 ​ ​ 49,056 ​ ​ 46,752 ​ ​ 49,386 Average number of common shares outstanding used to calculate basic earnings per share ​ ​ 711,867 ​ ​ 703,482 ​ ​ 708,678 ​ ​ 703,152 Earnings per common share basic and diluted ​ $ ( 0.44 ) ​ $ ( 0.40 ) ​ $ ( 0.96 ) ​ $ ( 1.21 ) 23 Table of Contents EWSB BANCORP, INC. AND SUBSIDIARY ​ There were no securities or other contracts that had a dilutive effect during the three and six months ended June 30, 2026 and 2025, and therefore the weighted-average common shares outstanding used to calculate both basic and diluted EPS are the same. Shares held by the Employee Stock Ownership Plan (“ESOP”) that have not been allocated to employees in accordance with the terms of the ESOP, referred to as “unallocated ESOP shares”, are not deemed outstanding for EPS calculations. All unallocated ESOP shares have been excluded from the calculation of basic and diluted EPS. Earnings per share for the three months ended June 30, 2026 and 2025 was calculated using 711,867 and 703,482 weighted average shares outstanding, respectively. Earnings per share for the six months ended June 30, 2026 and 2025 was calculated using 708,678 and 703,152 weighted average shares outstanding, respectively. Note 12: ESOP Employees of the Bank may participate in the Bank’s Employee Stock Ownership Plan (“ESOP”). The ESOP borrowed funds from the Company to purchase 52,678 shares of stock at $ 10 per share. The Bank makes discretionary contributions to the ESOP and the ESOP uses funds it receives to repay the loan. When payments are made, ESOP shares are allocated to participants based on relative compensation. The cost of shares issued to the ESOP, but not yet allocated to participants, is shown as a reduction of stockholders’ equity. Each December, the Bank makes discretionary contributions to the ESOP, which are equal to principal and interest payments required on the term loan. Expense recorded during the six months ended June 30, 2026 and 2025, is $ 12,363 and $ 13,259 , respectively. Shares held by the ESOP as of June 30, 2026 and 2025, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2026 ​ June 30, 2025 Shares committed for allocation ​ ​ 6,585 ​ ​ 3,951 Unallocated ​ ​ 46,093 ​ 48,727 Total ESOP shares ​ ​ 52,678 ​ ​ 52,678 ​ ​ ​ ​ ​ ​ ​ Fair value of unearned shares at June 30, 2026 and 2025 ​ $ 437,884 ​ $ 411,743 ​ ​ ​ Note 13: Subsequent Events ​ On July 16, 2026, the Company completed the rights offering through its issuance of 88,318 shares of Series A Junior Non-Voting Participating Preferred Stock pursuant to the rights offering for gross proceeds of $ 883,180 . The results of the issuance of the Series A Junior Non-Voting Participating Preferred Stock is not reflected in the Company’s financial condition or results of operations for the quarter ended June 30, 2026. ​ ​ ​ ​ 24 Table of Contents ​ Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations General Management’s discussion and analysis is intended to enhance your understanding of our financial condition and results of operations. The financial information in this section is derived from the accompanying financial statements. You should read the financial information in this section in conjunction with the business and financial information contained in this Quarterly Report on Form 10-Q and in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Cautionary Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which can be identified by the use of words such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “assume,” “plan,” “seek,” “expect,” “will,” “may,” “should,” “could,” “indicate,” “would,” “believe,” “contemplate,” “continue,” “intend,” “target” and words of similar meaning. These forward-looking statements include, but are not limited to: ● statements of our goals, intentions and expectations; ● statements regarding our business plans, prospects, growth and operating strategies; ● statements regarding the quality of our loan portfolio; and ● estimates of our risks and future costs and benefits. These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. We are under no duty to and do not undertake any obligation to update any forward-looking statements after the date of this Quarterly Report on Form 10-Q. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: ● our ability to manage our vulnerability to interest rates; ● general economic conditions, either nationally or in our market areas, that are worse than expected including as a result of employment levels and labor shortages, and the effects of inflation, a potential recession or slowed economic growth caused by supply chain disruptions, tariffs or otherwise; ● inflation and changes in the interest rate environment that reduce our margins and yields, our mortgage banking revenues, the fair value of financial instruments, including our mortgage servicing rights asset, or our level of loan originations, or increase the level of defaults, losses and prepayments on loans we have made and make; ● changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the ACL; ● changes in the economic assumptions and methodology used the calculate the ACL; 25 Table of Contents ● the current or anticipated impact of military conflict, terrorism or other geopolitical; ● the imposition of tariffs or other domestic or international governmental policies, trade restrictions and retaliatory measures impacting our borrowers and the broader economy; ● the impact of a debt ceiling impasses or fiscal uncertianlty; ● changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio; ● our ability to access cost-effective funding; ● fluctuations in real estate values and residential real estate market conditions; ● demand for loans and deposits in our market area; ● our ability to execute on our business strategies, including increasing our loan originations; ● competition among depository and other financial institutions; ● changes in the securities or secondary mortgage markets; ● changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory fees, capital requirements and insurance premiums; ● changes in the quality or composition of our loan or investment portfolios; ● technological changes that may be more difficult or expensive than expected; ● the failure to maintain current technologies and/or successfully implement future information technology enhancements and the operation risks associated with the adoption of artificial intelligence and other emerging technologies; ● the inability of third-party providers to perform as expected; ● risks associated with cybersecurity threats, data breaches, ransomware attacks, or other failures in our operational or security systems and infrastructure, including the risks arising from our dependence on third-party service providers and vendors; ● our ability to manage market risk, credit risk and operational risk; ● changes in consumer spending, borrowing and savings habits; ● changes in accounting policies and practices, as may be adopted by the bank regulatory agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission or the Public Company Accounting Oversight Board; ● our ability to attract and retain key employees; and ● changes in the financial condition, results of operations or future prospects of issuers of securities that we own. 26 Table of Contents Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. Except as required by law or regulation, we do not undertake, and we specifically disclaim any obligation, to release publicly the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. Critical Accounting Policies and Use of Critical Accounting Estimates Our accounting policies are integral to understanding the results reported. We consider accounting policies that require management to exercise significant judgment or discretion or to make significant assumptions that have, or could have, a material impact on the carrying value of certain assets or on income to be critical accounting policies. As of June 30, 2026, there have been no material changes to our critical accounting policies as compared to the critical accounting policies disclosed under “Management’s Discussion and Analysis of Financial Condition and Results of Operations-Critical Accounting Policies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Comparison of Financial Condition at June 30, 2026 and December 31, 2025 Total Assets. Total assets decreased $5.0 million, or 1.8%, to $266.0 million at June 30, 2026 from $271.0 million at December 31, 2025. The change was primarily the result of a $3.5 million net decrease in portfolio loans due to the sale of approximately $6.3 million in loans, a $5.2 million decrease in securities held-to-maturity, a $575,000 decrease in securities available for sale, and a $499,000 decrease in time deposits with other financial institutions offset by a $5.4 million increase in cash and cash equivalents. Cash and Cash Equivalents and Time Deposits with Other Financial Institutions. Total cash and due from banks and time deposits with other financial institutions increased $4.9 million or 85.1% to $10.7 million at June 30, 2026 from $5.8 million at December 31, 2025. The change was related to proceeds from the common stock issuance in the second quarter of 2026, the sale of loans in the first quarter of 2026, maturities of investment securities, and an increase in total deposits. Securities Available-for-Sale. Securities available-for-sale declined $575,000, or 2.6%, to $21.7 million at June 30, 2026 from $22.3 million at December 31, 2025. The decrease was primarily due to $487,000 in net maturities of investment securities and principal paydowns on mortgage-backed securities and a $102,000 decrease in the market value of the portfolio due to an increase in market interest rates during the six months ended June 30, 2026. The proceeds from maturities and principal paydowns are utilized to manage balance sheet liquidity. Securities Held-to-Maturity. Securities held-to-maturity decreased $5.2 million, or 14.4%, to $31.2 million at June 30, 2026 from $36.4 million at December 31, 2025. The decrease in securities held-to-maturity was due to $5.8 million of investment securities maturing during the period offset by $459,000 in amortization of unrealized losses and discounts. Loans, net. Loans, net decreased $3.5 million, or 1.9%, to $185.9 million at June 30, 2026 from $189.4 million at December 31, 2025. One- to four-family residential, other consumer, marine and recreational, home equity, and commercial real estate loans decreased $4.3 million, $627,000, $579,000, $105,000, and $59,000, respectively, to $125.4 million, $2.6 million, $29.7 million, $1.9 million, and $1.9 million at June 30, 2026, respectively. These changes were the result of the sale of approximately $6.3 million in aggregate principal balances of one- to four- family residential loans in January 2026 and loan payoffs and amortization exceeding production. These decreases were partially offset by increases in home equity lines of credit, construction, commercial installment, and multi-family loans of $1.3 million, $612,000, $190,000, and $134,000, to $8.2 million, $12.8 million, $3.7 million, and $1.2 million at June 30, 2026, respectively. Deposits. Total deposits increased $7.7 million or 3.5% to $224.9 million at June 30, 2026, from $217.2 million at December 31, 2025. Non-interest bearing deposits increased $3.1 million, or 39.7%, to $10.8 million at June 30, 2026, compared to $7.7 million at December 31, 2025. Total interest-bearing deposits, other than time deposits, increased approximately $4.2 million, or 4.3%, to $101.6 million at June 30, 2026, from $97.4 million at December 31, 2025. 27 Table of Contents Certificates of deposit increased $407,000, or 0.4%, to $112.5 million at June 30, 2026, from $112.1 million at December 31, 2025. Non interest-bearing deposits have increased due to funding received from the Company’s stock offering held in escrow and our emphasis on deposit growth from both business and personal customers. Interest-bearing deposits have increased in both savings and money market accounts due to emphasis on deposit growth and increased utilization of fully insured deposit offerings. Borrowings. We had $23.4 million of borrowings at June 30, 2026 as compared to $38.4 million at December 31, 2025. The decrease of $15.0 million in FHLB borrowings is primarily due to utilizing cash generated from loan sales, maturities of investment securities, proceeds from the stock offering, and increase in deposits during the six months ended June 30, 2026 to paydown borrowings. Stockholders’ Equity. Total stockholders’ equity increased $2.0 million to $15.2 million at June 30, 2026 from $13.2 million at December 31, 2025. Common stock and additional paid-in capital increased $2.4 million related to issuance of common stock net of issuance costs from the stock offering. Retained earnings decreased $679,000 resulting from the net loss incurred for the six months ended June 30, 2026. Accumulated other comprehensive loss decreased $260,000 due to amortization of unrealized holding gains on securities held-to-maturity partially offset by an increase in the unrealized holding loss on securities available-for-sale. ​ 28 Table of Contents Average Balances and Yields . The following tables set forth average balance sheets, average yields and costs, and certain other information at the dates and for the periods indicated. No tax-equivalent yield adjustments have been made, as the effects would be immaterial. Average yields include the effect of net deferred fee income, discounts and premiums that are amortized or accreted to interest income or interest expense. Average balances are calculated using daily average balances. Non-accrual loans are included in the computation of average balances only. Average loan balances exclude any loans held for sale. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended June 30, ​ ​ 2026 ​ 2025 ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ ​ ​ ​ Average ​ Outstanding ​ ​ ​ ​ Average ​ ​ ​ ​ Balance ​ ​ ​ Interest ​ ​ ​ Yield/Rate ​ ​ ​ Balance ​ ​ ​ Interest ​ ​ ​ Yield/Rate ​ ​ (Dollars in thousands) Interest-earning assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans (1) ​ $ 185,581 ​ $ 2,343 5.06 % $ 193,334 ​ $ 2,446 5.07 % Securities available for sale ​ 21,865 ​ 114 2.09 % 22,429 ​ 123 2.20 % Securities held to maturity ​ 32,969 ​ 122 1.48 % 39,398 ​ 135 1.37 % Cash, cash equivalents and other interest-earning assets ​ 11,329 ​ 85 3.01 % 8,480 ​ 56 2.65 % Total interest-earning assets ​ $ 251,744 ​ $ 2,664 4.24 % $ 263,641 ​ $ 2,760 4.20 % Noninterest-earning assets ​ $ 12,690 ​ ​ ​ ​ ​ $ 16,691 ​ ​ ​ ​ Total assets ​ $ 264,434 ​ ​ ​ ​ ​ $ 280,332 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest-bearing liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest-bearing demand deposits ​ $ 29,037 ​ $ 8 0.11 % $ 34,999 ​ $ 52 0.60 % Savings deposits ​ 31,448 ​ 6 0.08 % 30,985 ​ 4 0.05 % Money market ​ 41,065 ​ 99 0.97 % 41,202 ​ 70 0.68 % Certificates of deposit ​ 112,236 ​ 1,060 3.79 % 112,324 ​ 1,141 4.07 % Total interest-bearing deposits ​ $ 213,786 ​ $ 1,173 2.20 % $ 219,510 ​ $ 1,267 2.32 % Borrowed funds ​ 27,446 ​ 264 3.86 % 36,510 ​ 365 4.01 % Total interest-bearing liabilities ​ $ 241,232 ​ $ 1,437 2.39 % $ 256,020 ​ $ 1,632 2.56 % Noninterest-bearing demand deposits ​ 9,902 ​ ​ ​ ​ ​ 8,809 ​ ​ ​ ​ ​ Other noninterest-bearing liabilities ​ 1,327 ​ ​ ​ ​ ​ 1,098 ​ ​ ​ ​ ​ Total liabilities ​ 252,461 ​ ​ ​ ​ ​ 265,927 ​ ​ ​ ​ ​ Total equity ​ 11,973 ​ ​ ​ ​ ​ 14,405 ​ ​ ​ ​ ​ Total liabilities and equity ​ $ 264,434 ​ ​ ​ ​ ​ $ 280,332 ​ ​ ​ ​ ​ Net interest income ​ ​ ​ ​ $ 1,227 ​ ​ ​ ​ ​ $ 1,128 ​ ​ Net interest rate spread (2) ​ ​ ​ ​ ​ 1.86 % ​ ​ ​ 1.64 % Net interest-earning assets (3) ​ $ 10,512 ​ ​ ​ ​ ​ ​ $ 7,621 ​ ​ ​ ​ Net interest margin (4) ​ ​ ​ ​ ​ 1.98 % ​ ​ ​ 1.72 % Average interest-earning assets to interest-bearing liabilities ​ 104.4 % ​ ​ ​ ​ 103.0 % ​ ​ ​ (1) Net deferred fee income included in interest earned on loans totaled $91,000 for the three months ended June 30, 2026 and $95,000 for the three months ended June 30, 2025. (2) Net interest rate spread represents the difference between the weighted average earned yield on interest-earning assets and the weighted average rate paid on interest-bearing liabilities. (3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. (4) Net interest margin represents net interest income divided by average total interest-earning assets. ​ ​ 29 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Six Months Ended June 30, ​ ​ 2026 ​ 2025 ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ ​ ​ ​ Average ​ Outstanding ​ ​ ​ ​ Average ​ ​ ​ ​ Balance ​ ​ ​ Interest ​ ​ ​ Yield/Rate ​ ​ ​ Balance ​ ​ ​ Interest ​ ​ ​ Yield/Rate ​ ​ (Dollars in thousands) Interest-earning assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans (1) $ 185,329 ​ $ 4,692 5.11 % $ 190,269 ​ $ 4,733 5.02 % Securities available for sale ​ 22,097 ​ 232 2.12 % 22,669 ​ 253 2.25 % Securities held to maturity ​ 33,895 ​ 249 1.48 % 39,253 ​ 270 1.39 % Cash, cash equivalents and other interest-earning assets ​ 11,015 ​ 172 3.15 % 8,158 ​ 108 2.67 % Total interest-earning assets $ 252,336 ​ $ 5,345 4.27 % $ 260,349 ​ $ 5,364 4.15 % Noninterest-earning assets $ 13,098 ​ ​ ​ ​ ​ $ 17,253 ​ ​ ​ ​ Total assets $ 265,434 ​ ​ ​ ​ ​ $ 277,602 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest-bearing liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest-bearing demand deposits $ 28,698 ​ $ 16 0.11 % $ 39,206 ​ $ 120 0.62 % Savings deposits ​ 30,845 ​ 11 0.07 % 26,971 ​ 8 0.06 % Money market ​ 40,329 ​ 190 0.95 % 43,997 ​ 177 0.81 % Certificates of deposit ​ 112,567 ​ 2,121 3.80 % 112,093 ​ 2,341 4.21 % Total interest-bearing deposits $ 212,439 ​ $ 2,338 2.22 % $ 222,267 ​ $ 2,646 2.40 % Borrowed funds ​ 30,636 ​ 603 3.97 % 30,688 ​ 628 4.13 % Total interest-bearing liabilities $ 243,075 ​ $ 2,941 2.44 % $ 252,955 ​ $ 3,274 2.61 % Noninterest-bearing demand deposits ​ 8,824 ​ ​ ​ ​ ​ 8,635 ​ ​ ​ ​ ​ Other noninterest-bearing liabilities ​ 2,130 ​ ​ ​ ​ ​ 1,921 ​ ​ ​ ​ ​ Total liabilities ​ 254,029 ​ ​ ​ ​ ​ 263,511 ​ ​ ​ ​ ​ Total equity ​ 11,405 ​ ​ ​ ​ ​ 14,091 ​ ​ ​ ​ ​ Total liabilities and equity $ 265,434 ​ ​ ​ ​ ​ $ 277,602 ​ ​ ​ ​ ​ Net interest income ​ ​ ​ ​ $ 2,404 ​ ​ ​ ​ ​ $ 2,090 ​ ​ Net interest rate spread (2) ​ ​ ​ ​ ​ 1.83 % ​ ​ ​ 1.54 % Net interest-earning assets (3) $ 9,261 ​ ​ ​ ​ ​ ​ $ 7,394 ​ ​ ​ ​ Net interest margin (4) ​ ​ ​ ​ ​ 1.92 % ​ ​ ​ 1.62 % Average interest-earning assets to interest-bearing liabilities ​ 103.8 % ​ ​ ​ ​ 102.9 % ​ ​ ​ (1) Net deferred fee income included in interest earned on loans totaled $177,000 for the six months ended June 30, 2026 and $176,000 for the six months ended June 30, 2025. (2) Net interest rate spread represents the difference between the weighted average earned yield on interest-earning assets and the weighted average rate paid on interest-bearing liabilities. (3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. (4) Net interest margin represents net interest income divided by average total interest-earning assets. 30 Table of Contents Rate/Volume Analysis. The following table presents the effects of changing rates and volumes on our net interest income for the periods indicated. The rate column shows the effects attributable to changes in rate (changes in rate multiplied by prior volume). The volume column shows the effects attributable to changes in volume (changes in volume multiplied by prior rate). The total column represents the sum of the prior columns. For purposes of this table, changes attributable to both rate and volume, which cannot be segregated, have been allocated proportionately based on the changes due to rate and the changes due to volume. There were no out-of-period items or adjustments required to be excluded from the table below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ ​ ​ Six Months Ended June 30, ​ ​ 2026 vs. 2025 ​ 2026 vs. 2025 ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Increase (Decrease) Due to ​ Increase ​ Increase (Decrease) Due to ​ Increase ​ ​ ​ ​ Volume ​ ​ ​ Rate ​ ​ ​ (Decrease) ​ ​ ​ Volume ​ ​ ​ Rate ​ ​ ​ (Decrease) ​ ​ (In thousands) Interest-earning assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ $ (98) ​ $ (5) ​ $ (103) ​ $ (127) ​ $ 86 ​ $ (41) Securities available-for-sale ​ (3) ​ (6) ​ (9) ​ (6) ​ (15) ​ (21) Securities held-to-maturity ​ (22) ​ 9 ​ (13) ​ (37) ​ 16 ​ (21) Cash, cash equivalents and other interest-earning assets ​ 19 ​ 10 ​ 29 ​ 60 ​ 4 ​ 64 Total interest-earning assets ​ (104) ​ 8 ​ (96) ​ (110) ​ 91 ​ (19) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest-bearing liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest-bearing demand deposits ​ (9) ​ (36) ​ (44) ​ (17) ​ (87) ​ (104) Savings deposits ​ 0 ​ 2 ​ 2 ​ 0 ​ 3 ​ 3 Money market ​ (0) ​ 29 ​ 29 ​ (17) ​ 30 ​ 13 Certificates of deposit ​ (2) ​ (79) ​ (81) ​ 9 ​ (229) ​ (220) Total interest-bearing deposits ​ (11) ​ (83) ​ (94) ​ (25) ​ (283) ​ (308) Borrowed funds ​ (90) ​ (10) ​ (101) ​ (1) ​ (24) ​ (25) Total interest-bearing liabilities ​ (101) ​ (94) ​ (195) ​ (26) ​ (307) ​ (333) Change in net interest income ​ $ (3) ​ $ 102 ​ $ 99 ​ $ (84) ​ $ 398 ​ $ 314 ​ 31 Table of Contents Comparison of Operating Results for the Three Months Ended June 30, 2026 and 2025 Net Income/(Loss). We recorded a net loss of $315,000 for the three months ended June 30, 2026, compared to a net loss of $279,000 for the three months ended June 30, 2025, a change of $36,000 year-over-year for the period. The increase in our net loss resulted primarily from a $146,000 decrease in the income tax benefit and an increase of $34,000 in the provision for credit losses offset by a $99,000 increase in net interest income, an increase of $40,000 in noninterest income, and a $5,000 decrease in noninterest expense. Interest Income. Interest income decreased $96,000, or 3.5%, to $2.7 million for the three months ended June 30, 2026, from $2.8 million for the three months ended June 30, 2025, due to a $103,000 decrease in interest and fees on loans. The decrease in interest and fees on loans was primarily due to a decline of $7.8 million in average loan balances and a one basis point decline in the weighted average yield on the loan portfolio to 5.06% for the three months ended June 30, 2026, from 5.07% for the same period in 2025. Interest income on securities and other investments increased $7,000 to $321,000 for the three months ended June 30, 2026 primarily due to a $2.8 million increase in the average balance of interest-bearing cash balances and other interest-earning assets offset by a $7.0 million decline in average investment securities balances year-over-year for the period. The average balance decrease in investment securities was primarily related to security maturities. Interest Expense. Total interest expense decreased $195,000, or 11.9% to $1.4 million for the three months ended June 30, 2026 compared to $1.6 million for the three months ended June 30, 2025. Interest expense on deposits declined $93,000 to $1.2 million for the three months ended June 30, 2026 compared to $1.3 million for the three months ended June 30, 2025. This decrease was due to a $5.7 million decline in average total interest-bearing deposit balances for the three months ended June 30, 2026 compared to the same period in 2025. The weighted average rate paid on deposits declined 12 basis points to 2.20% from 2.32% for the three months ended June 30, 2026 and 2025. Interest expense on borrowed funds decreased $101,000 for the three months ended June 30, 2026 to $264,000 compared to $365,000 for the three months ended June 30, 2025. The weighted average rate paid on borrowed funds declined 15 basis points to 3.86% for the three months ended June 30, 2026, from 4.01% for the three months ended June 30, 2025 while the average balance of borrowed funds decreased $9.1 million, or 24.8%, to $27.4 million for the three months ended June 30, 2026 from $36.5 million for the three months ended June 30, 2025. The decrease in the average balance was generally related to the decline in funding needs due to the $11.9 million reduction in average interest-earning assets and proceeds received from the common stock issuance. Net Interest Income. Net interest income increased $99,000, or 8.7%, to $1.2 million for the three months ended June 30, 2026 from $1.1 million for the three months ended June 30, 2025, primarily due to an increase in the interest rate spread to 1.86% for the three months ended June 30, 2026 from 1.64% for the three months ended June 30, 2025 and an increase in the net interest margin to 1.98% for the three months ended June 30, 2026, from 1.72% for the three months ended June 30, 2025. The increases in the interest rate spread and the net interest margin were primarily due to an increase in the weighted average yield on interest-earning assets and decline in weighted average yield on interest-bearing liabilities. Provision for Credit Losses. Based on management’s analysis of the adequacy of the ACL on loans and unfunded loan commitments, a provision of $43,000 was made to the ACL on loans and $6,000 to the ACL for unfunded loan commitments for the three months ended June 30, 2026. A provision of $6,000 was made to the ACL on loans and $9,000 to the ACL for unfunded loan commitments for the three months ended June 30, 2025. The adequacy of the ACL and provision expense is based on an analysis of current credit characteristics in conjunction with loss history of the loan portfolio and peer group loss data. 32 Table of Contents Noninterest Income. Noninterest income increased $40,000, or 11.2%, to $400,000 for the three months ended June 30, 2026 from $360,000 for the three months ended June 30, 2025. The change resulted primarily from a $45,000 increase in the gain on sale of mortgage loans, a $6,000 increase in bank owned life insurance income, a $6,000 increase in the gain on the interest rate swap, and a $8,000 increase in other income primarily related to fee income on reciprocal deposit activity. These increases in non-interest income were offset by a $18,000 decrease in mortgage banking servicing income and a $6,000 decrease in interchange income due to activity declines on a year-over-year basis. The table below sets forth our noninterest income for the three months ended June 30, 2026 and 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ ​ ​ ​ ​ June 30, ​ Change ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ Amount ​ ​ ​ Percent Service charges on deposit accounts ​ $ 18,652 ​ $ 19,929 ​ $ (1,277) (6.4) % Interchange income ​ 53,946 ​ 60,169 ​ (6,223) (10.3) % Mortgage banking income ​ 51,927 ​ 69,641 ​ (17,714) (25.4) % Gain on sale of mortgage loans ​ ​ 102,195 ​ ​ 57,311 ​ ​ 44,884 78.3 % Increase in cash value of life insurance ​ 69,898 ​ 63,501 ​ 6,397 10.1 % Gain on interest rate swap ​ ​ 5,864 ​ — ​ 5,864 — % Other ​ 97,851 ​ 89,395 ​ 8,456 9.5 % Total noninterest income ​ $ 400,333 ​ $ 359,946 ​ $ 40,387 11.2 % ​ Noninterest Expense. Noninterest expense decreased $5,000, or 0.3%, totaling $1.9 million for the three months ended June 30, 2026 and 2025. Salary and benefit expenses decreased $56,000 and occupancy expense declined $14,000 due primarily to savings realized on the closing of two branches over recent years and reduction in employee count. Data processing expense decreased $81,000 due to management of related contracts and changes in network services. The decreases were offset by a $66,000 increase in FDIC insurance premiums and $83,000 increase in other expenses related to additional legal, professional and consulting services. The table below sets forth our noninterest expense for the three months ended June 30, 2026 and 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ Change ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ Amount ​ ​ ​ Percent Salaries and related benefits ​ $ 1,027,550 ​ $ 1,083,914 ​ $ (56,364) (5.2) % Occupancy expense ​ 138,868 ​ 152,910 ​ (14,042) (9.2) % Data processing ​ 267,358 ​ 348,129 ​ (80,771) (23.2) % Advertising ​ 29,125 ​ 32,066 ​ (2,941) (9.2) % FDIC insurance premiums ​ 140,232 ​ 73,910 ​ 66,322 89.7 % Other ​ 289,241 ​ 206,462 ​ 82,779 40.1 % Total noninterest expense ​ $ 1,892,374 ​ $ 1,897,391 ​ $ (5,017) (0.3) % ​ ​ Income Tax Expense. We did not record income tax expense or benefit for the three months ended June 30, 2026, compared to a benefit of $146,000 for the three months ended June 30, 2025. The current year change in the deferred tax valuation allowance of $93,000 was offset by an equal deferred tax benefit. Comparison of Operating Results for the Six Months Ended June 30, 2026 and 2025 Net Income/(Loss). We recorded a net loss of $679,000 for the six months ended June 30, 2026, compared to a net loss of $847,000 for the six months ended June 30, 2025, a decrease in loss of $168,000 year-over-year for the period. The change in year-over-year performance resulted primarily from a $314,000 increase in net interest income due to an overall increase in yield on average earning assets and decline in funding cost on interest-bearing liabilities, a decline of $23,000 in the provision for credit losses, a $142,000 increase in noninterest income, and a decrease of $62,000 in noninterest expense offset by a $374,000 decline in the benefit from income taxes. 33 Table of Contents Interest and Dividend Income. Interest and dividend income decreased $19,000 or 0.3%, to $5.3 million for the six months ended June 30, 2026, from $5.4 million for the six months ended June 30, 2025, due to a $40,000 decrease in interest and fees on loans and a $43,000 decrease in interest on investment securities offset by a $65,000 increase in interest and dividends on other investments. The decrease in interest and fees on loans was primarily due to a $5.0 million decline in average loan balances for the six months ended June 30, 2026 compared to the same period in 2025 offset by an increase of nine basis points in the weighted average yield on the loan portfolio to 5.11% for the six months ended June 30, 2026 from 5.02% for the same period in 2025. The decrease in interest on investment securities was primarily due to a $5.9 million decline in average investment balances due to maturities and paydowns for the six months ended June 30, 2026 compared to the same period in 2025 offset by a three basis point increase in weighted average yield to 1.73% for the six months ended June 30, 2026 from 1.70% for the same period in 2025. Interest and dividend income on cash, cash equivalents, and other interest-earning assets increased $64,000 to $172,000 for the six months ended June 30, 2026 primarily due to a $2.9 million increase in average balances for the six months ended June 30, 2026 compared to the same period in 2025 and related increase in dividends on Federal Home Loan Bank stock holdings of $39,000 and a $26,000 increase in interest earned on overnight investment accounts. Interest Expense. Total interest expense decreased $332,000, or 10.1%, to $2.9 million for the six months ended June 30, 2026, from $3.3 million for the six months ended June 30, 2025. Interest expense on deposits decreased $308,000 or 11.6%, to $2.3 million for the six months ended June 30, 2026 compared to $2.6 million for the six months ended June 30, 2025, due primarily to a decrease in the weighted average rate paid on interest-bearing demand deposits of 51 basis points to 0.11% for the six months ended June 30, 2026 from 0.62% for the six months ended June 30, 2025 combined with a decrease in the average balance of such deposits of $10.5 million related to brokered deposits utilized during the same period in the prior year. Brokered deposits were not used during the six months ended June 30, 2026. Interest expense on time deposits declined $220,000 to $2.1 million for the six months ended June 30, 2026 compared to $2.3 million for the six months ended June 30, 2025 due to a 41 basis point decline in average cost of funds to 3.80% from 4.21% during the same period in the prior year. Interest expense on borrowed funds decreased $25,000, or 3.9%, to $603,000 for the six months ended June 30, 2026, from $628,000 for the six months ended June 30, 2025. The rate paid on borrowed funds decreased 16 basis points to 3.97% for the six months ended June 30, 2026, from 4.13% for the six months ended June 30, 2025 while the average balance of borrowed funds remained consistent at $30.6 million for the six months ended June 30, 2026 and 2025. Net Interest Income. Net interest income increased $314,000 or 15.0%, to $2.4 million for the six months ended June 30, 2026 from $2.1 million for the six months ended June 30, 2025, primarily due to an increase in the interest rate spread to 1.83% for the six months ended June 30, 2026 from 1.54% for the six months ended June 30, 2025 and an increase in the net interest margin to 1.92% for the six months ended June 30, 2026, from 1.62% for the six months ended June 30, 2025. The increases in the interest rate spread and the net interest margin were primarily due to an improvement in yield on total interest-earnings assets of 12 basis points resulting from an increase in loan yield of nine basis points to 5.11% for the six months ended June 30, 2026 compared to 5.02% for the six months ended June 30, 2025. Interest rate spread and net interest margin were also favorably impacted by a 17 basis point reduction in average rate paid on interest-bearing liabilities to 2.44% for the six months ended June 30, 2026 from 2.61% for the six months ended June 30, 2025. The average rate paid on certificates of deposit and borrowed funds declined 41 basis points and 16 basis points for the six months ended June 30, 2026 compared to same period in 2025. 34 Table of Contents Provision for Credit Losses. Based on management’s analysis of the adequacy of the ACL on loans and unfunded loan commitments, a total provision of $102,000 comprising of a provision of $92,000 to the ACL on loans and a provision of $10,000 to the ACL for unfunded loan commitments was recorded for the six months ended June 30, 2026, compared to a provision of $70,000 to the ACL on loans and $56,000 to the ACL for unfunded commitments in the same period in 2025. Noninterest Income. Noninterest income increased $142,000, or 20.9%, to $823,000 for the six months ended June 30, 2026 from $680,000 for the six months ended June 30, 2025. The increase resulted primarily from a $146,000 increase in gain on sale of mortgage loans, a $14,000 increase in the gain on interest rate swap, and a $13,000 increase in bank owned life insurance income. These increases were partially offset on a comparative basis related to a $11,000 decrease in debit card interchange income, a $10,000 decrease in mortgage banking income, and a $7,000 decrease in other income related to a reduction in revenue in our investment group and title insurance activities. The table below sets forth our noninterest income for the six months ended June 30, 2026 and 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ Change ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ Amount ​ ​ ​ Percent Service charges on deposit accounts ​ $ 32,594 ​ $ 34,511 ​ $ (1,917) (5.6) % Interchange income ​ 104,640 ​ 116,523 ​ (11,883) (10.2) % Mortgage banking income ​ 98,888 ​ 108,949 ​ (10,061) (9.2) % Gain on sale of mortgage loans ​ ​ 260,930 ​ 115,170 ​ 145,760 126.6 % Increase in cash value of life insurance ​ 138,474 ​ 125,726 ​ 12,748 10.1 % Gain on interest rate swap ​ ​ 14,472 ​ — ​ 14,472 — % Other ​ 172,567 ​ 179,409 ​ (6,842) (3.8) % Total noninterest income ​ $ 822,565 ​ $ 680,288 ​ $ 142,277 20.9 % ​ Noninterest Expense. Noninterest expense decreased $62,000, or 1.6%, to $3.8 million for the six months ended June 30, 2026 from $3.9 million for the six months ended June 30, 2025. Salary and benefit expenses decreased $118,000 due to reduction in number of employees, data processing and information technology expense decreased $97,000 due to a reduction in network management costs, and occupancy expense decreased $16,000 due to savings realized on closing two branch locations over recent years. The decreases were partially offset by a $110,000 increase in FDIC insurance premiums and a $68,000 increase in other noninterest expense due to increases in legal, consulting, commercial lending, and general expense. The table below sets forth our noninterest expense for the six months ended June 30, 2026 and 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ Change ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ Amount ​ ​ ​ Percent Salaries and related benefits $ 2,072,000 $ 2,190,483 $ (118,483) (5.4) % Occupancy expense ​ ​ 304,685 ​ ​ 320,884 ​ ​ (16,199) (5.0) % Data processing ​ 525,869 ​ 622,467 ​ (96,598) (15.5) % Advertising ​ 51,439 ​ 60,048 ​ (8,609) (14.3) % FDIC insurance premiums ​ 240,127 ​ 130,536 ​ 109,591 84.0 % Other ​ 609,515 ​ 541,498 ​ 68,017 12.6 % Total noninterest expense $ 3,803,635 ​ $ 3,865,916 ​ $ (62,281) (1.6) % ​ ​ Income Tax Expense. We did not record income tax expense or benefit for the six months ended June 30, 2026 compared to benefit of $374,000 for the six months ended June 30, 2025. The current year change in the deferred tax valuation allowance of $186,000 was offset by an equal deferred tax benefit. ​ 35 Table of Contents Management of Market Risk General . Our most significant form of market risk is interest rate risk because, as a financial institution, the majority of our assets and liabilities are sensitive to changes in interest rates. Therefore, a principal part of our operations is to manage interest rate risk and limit the exposure of our financial condition and results of operations to changes in market interest rates. Our Asset Liability Committee is responsible for evaluating the interest rate risk inherent in our assets and liabilities, for determining the level of risk that is appropriate, given our business strategy, operating environment, capital, liquidity and performance objectives, and for managing this risk consistent with the policy and guidelines approved by our board of directors. The Asset Liability Committee, which is a management-level committee, meets at least quarterly, or more frequently when necessary, is comprised of our President/Chief Executive Officer, Vice President of Lending and Vice President of Member Relations, and reports to the full board of directors on at least a quarterly basis . The Asset Liability Committee is responsible for recommending to the board of directors policies and procedures regarding asset/liability management, while it is the responsibility of the board of directors to determine whether to adopt such policies and procedures. We currently utilize a third-party modeling program, prepared on a quarterly basis, to evaluate our sensitivity to changing interest rates, given our business strategy, operating environment, capital, liquidity and performance objectives, and for managing this risk consistent with the guidelines approved by the board of directors. Management of interest rate risk is one of the Bank’s highest priorities. Pursuant to our asset/liability management policy, we are seeking to implement the following strategies to further improve the management of our interest rate risk: ● maintaining capital levels that exceed the thresholds for well-capitalized status under federal regulations; ● maintaining a prudent level of liquidity, including through maintaining a portfolio of cash, short-term investments or investments with amortizing features; ● originating shorter term or adjustable-rate loans for portfolio, which have become somewhat more attractive to many borrowers in the current rate environment, and selling the majority of our longer term, fixed-rate residential loans; ● attempting to increase the balances of core deposits, which are less sensitive to interest rate fluctuations; ● managing our utilization of wholesale funding with borrowings from the FHLB in a prudent manner; ● managing the terms of our certificates of deposit; and ● emphasizing asset quality to maximize the level of interest-earning assets. Shortening the average term of our interest-earning assets by increasing our investments in shorter term assets, as well as originating loans with variable interest rates, helps to match the maturities and interest rates of our assets and liabilities better, thereby reducing the exposure of our net interest income to changes in market interest rates. Net Interest Income. We analyze our sensitivity to changes in interest rates through a net interest income model. Net interest income is the difference between the interest income we earn on our interest-earning assets, such as loans and securities, and the interest we pay on our interest-bearing liabilities, such as deposits and borrowings. We estimate what our net interest income would be for a 12-month period. We then calculate what the net interest income would be for the same period under the assumptions that the U.S. Treasury yield curve increases or decreases instantaneously by various basis point increments, with changes in interest rates representing immediate and permanent, parallel shifts in the yield curve. A basis point equals one-hundredth of one percent, and 100 basis points equals one percent. An increase in interest rates from 3% to 4% would mean, for example, a 100-basis point increase in the “Change in Interest Rates” column below. 36 Table of Contents The following table sets forth, as of June 30, 2026, the calculation of the estimated changes in our net interest income that would result from the designated immediate changes in the U.S. Treasury yield curve. ​ ​ ​ ​ ​ ​ ​ At June 30, 2026 Change in Interest Rates ​ ​ ​ Net Interest Income Year 1 ​ ​ ​ Year 1 Change from (basis points) (1) ​ ​ ​ Forecast ​ ​ ​ Level (Dollars in thousands) 300 ​ $ 5,226 1.99 % 200 ​ 5,188 1.26 % 100 ​ 5,159 0.69 % Level ​ 5,124 — % (100) ​ 5,131 0.14 % (200) ​ 5,135 0.22 % (300) ​ 5,152 0.54 % (1) Assumes an immediate uniform change in interest rates at all maturities. The table above indicates that at June 30, 2026, we would have experienced a 1.26% increase in net interest income in the event of an instantaneous parallel 200 basis point increase in market interest rates and a 0.22% increase in net interest income in the event of an instantaneous parallel 200 basis point decrease in market interest rates. Economic Value of Equity . We also compute amounts by which the net present value of our assets and liabilities (economic value of equity or “EVE”) would change in the event of a range of assumed changes in market interest rates. This model uses a discounted cash flow analysis and an option-based pricing approach to measure the interest rate sensitivity of net portfolio value. The model estimates the economic value of each type of asset, liability and off-balance sheet contract under the assumptions that the U.S. Treasury yield curve increases instantaneously by 100, 200 and 300 basis point increments or decreases instantaneously by 100, 200 and 300 basis point increments, with changes in interest rates representing immediate and permanent, parallel shifts in the yield curve. The following table sets forth, as of June 30, 2026, the calculation of the estimated changes in our EVE that would result from the designated immediate changes in the U.S. Treasury yield curve. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At June 30, 2026 ​ ​ ​ ​ ​ Estimated Increase Change in Interest Rates ​ Estimated ​ (Decrease) in EVE (basis points) (1) ​ ​ ​ EVE (2) ​ ​ ​ Amount ​ ​ ​ Percent (Dollars in thousands) 300 ​ $ 17,211 ​ $ (3,910) (18.51) % 200 ​ 18,400 ​ (2,721) (12.88) % 100 ​ 19,733 ​ (1,388) (6.57) % Level ​ 21,121 ​ n/a — % (100) ​ 22,608 ​ 1,487 7.04 % (200) ​ 24,048 ​ 2,927 13.86 % (300) ​ 25,424 ​ 4,303 20.37 % (1) Assumes an immediate uniform change in interest rates at all maturities. (2) EVE is the discounted present value of expected cash flows from assets, liabilities and off-balance sheet contracts. (3) Present value of assets represents the discounted present value of incoming cash flows on interest-earning assets. (4) EVE ratio represents EVE divided by the present value of assets. The table above indicates that at June 30, 2026, we would have experienced a 12.88% decrease in EVE in the event of an instantaneous parallel 200 basis point increase in market interest rates and a 13.86% increase in EVE in the event of an instantaneous parallel 200 basis point decrease in market interest rates. The change in EVE that we would experience in the event of an instantaneous parallel 200 basis point increase and decrease in market interest rates is 37 Table of Contents outside of the limits set forth in the Bank’s asset/liability management policy. While the Bank has developed policies and procedures that it believes will help reduce its interest rate exposure, any targeted improvement is expected to be realized gradually given the constraints imposed by the Bank’s current balance sheet composition and capital structure as well as regulatory requirements. Certain shortcomings are inherent in the methodologies used in the above interest rate risk measurements. Modeling changes require making certain assumptions that may or may not reflect the manner in which actual yields and costs respond to changes in market interest rates. The net interest income and net economic value tables presented assume that the composition of our interest-sensitive assets and liabilities existing at the beginning of a period remains constant over the period being measured and assumes that a particular change in interest rates is reflected uniformly across the yield curve regardless of the duration or repricing of specific assets and liabilities. Accordingly, although the tables provide an indication of our interest rate risk exposure at a particular point in time, such measurements are not intended to and do not provide a precise forecast of the effect of changes in market interest rates, and actual results may differ. Interest rate risk calculations also may not reflect the fair values of financial instruments. For example, decreases in market interest rates can increase the fair values of our loans, mortgage servicing rights, deposits and borrowings. Liquidity and Capital Resources Liquidity describes our ability to meet the financial obligations that arise in the ordinary course of business. Liquidity is primarily needed to meet the borrowing and deposit withdrawal requirements of our customers and to fund current and planned expenditures. The Bank has a process to project the sources and uses of funds over short- and long-term horizons, and, in concert with our asset/liability management policy, has guidelines to identify potential funding gaps. Further, we have an early warning system for measuring and monitoring liquidity, including through the establishment of early warning indicators. Our primary sources of funds are deposits, principal and interest payments on loans and securities, and proceeds from maturities of securities. We are also able to borrow from the FHLB. At June 30, 2026, we had outstanding advances of $23.4 million from the FHLB. At June 30, 2026, we had unused borrowing capacity of $43.7 million from the FHLB. At June 30, 2026, we also had a $25.0 million available line of credit with the Discount Window at the Federal Reserve Bank of Chicago. In addition, at June 30, 2026 we had a $6.0 million federal funds line of credit with a correspondent bank. We have not drawn against the Discount Window or the federal funds line of credit. While maturities and scheduled amortization of loans and securities are predictable sources of funds, deposit flows and loan prepayments are greatly influenced by general interest rates, economic conditions, and competition. Our most liquid assets are cash and short-term investments. The levels of these assets are dependent on our operating, financing, lending, and investing activities during any given period. Our cash flows are comprised of three primary classifications: cash flows from operating activities, investing activities, and financing activities. For additional information, see the condensed consolidated statements of cash flows for the six months ended June 30, 2026 and 2025 included as part of the consolidated financial statements appearing elsewhere in this filing. We are committed to maintaining a strong liquidity position. We monitor our liquidity position on a daily basis. We anticipate that we will have sufficient funds to meet our current funding commitments. Based on our deposit retention experience and current pricing strategy and regulatory restrictions, we anticipate that a significant portion of maturing time deposits will be retained, and that we can supplement our funding with borrowings in the event that we allow these deposits to run off at maturity. On June 29, 2026, the Company issued 261,682 shares of its common stock pursuant to a private placement for gross proceeds of $2,616,820. The private placement was conducted as a rights offering to eligible holders of the Company’s common stock. Only holders of the Company’s common stock who qualified as “accredited investors,” as 38 Table of Contents defined in Regulation D under the Securities Act of 1933, as amended, were eligible to participate. The proceeds from the rights offering are being used to support the regulatory capital ratios of the Bank. ​ Existing stockholders who did not participate in the rights offering experienced dilution as a result of the rights offering. The 261,682 shares of common stock issued in the rights offering represented approximately 25.8% of the 1,014,220 shares of common stock outstanding immediately following the issuance. ​ On July 16, 2026, the Company subsequently completed the rights offering through its issuance of 88,318 shares of its Series A Junior Non-Voting Participating Preferred Stock pursuant to the rights offering for gross proceeds of $883,180. The results of the issuance of the Series A Junior Non-Voting Participating Preferred Stock is not reflected in the Company’s financial condition or results of operations for the quarter ended June 30, 2026. ​ As a Wisconsin-chartered savings bank, we must maintain a net worth ratio of 6.0% (with “net worth ratio” defined under Wisconsin law as the Bank’s total liabilities subtracted from its total assets, plus unallocated general loan loss reserves, all divided by the Bank’s total assets). At June 30, 2026 and December 31, 2025, we had a net worth ratio of 5.77% and 4.89%, respectively. At June 30, 2026 and December 31, 2025, our capital levels at the Bank level exceeded the levels required to be technically considered “well capitalized” under federal regulatory capital regulations. At June 30, 2026, we had Tier 1 capital equal to 7.1% of total average assets and total risk-based capital equal to 12.6% of risk-weighted assets. At December 31, 2025, we had Tier 1 capital equal to 6.1% of total average assets and total risk-based capital equal to 11.6% of risk-weighted assets. Off-Balance Sheet Arrangements and Aggregate Contractual Obligations Commitments. As a financial services provider, we routinely are a party to various financial instruments with off-balance-sheet risks, such as commitments to extend credit and unused lines of credit. While these contractual obligations represent our future cash requirements, a significant portion of commitments to extend credit may expire without being drawn upon. Such commitments are subject to the same credit policies and approval process accorded to loans we make. At June 30, 2026, we had outstanding commitments to extend credit of $30.0 million. We anticipate that we will have sufficient funds available to meet our current lending commitments. Certificates of deposit that are scheduled to mature in one year or less from June 30, 2026 totaled $92.9 million. Management expects that a substantial portion of these time deposits will be retained. However, if a substantial portion of these time deposits is not retained, we may utilize advances from the FHLB or raise interest rates on deposits to attract new accounts, which may result in higher levels of interest expense. Our off-balance sheet credit exposures are limited to unfunded loan commitments primarily related to residential real estate loans. The unfunded commitments are evaluated on a quarterly basis. Our losses related to the unfunded commitments as of June 30, 2026 were estimated to be $141,000. We have provisioned for this exposure and recorded a reserve of $141,000 as of June 30, 2026. Contractual Obligations. In the ordinary course of our operations, we enter into certain contractual obligations. Such obligations include data processing services, operating contracts for premises and equipment, agreements with respect to borrowed funds and deposit liabilities. 39 Table of Contents Item 3. Quantitative and Qualitative Disclosures About Market Risk Not applicable, as the Company is a smaller reporting company. Item 4. Controls and Procedures An evaluation was performed under the supervision and with the participation of the Company’s management, including the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) promulgated under the Securities and Exchange Act of 1934, as amended) as of June 30, 2026. Based on that evaluation, the Company’s management, including the Chief Executive Officer and the Chief Financial Officer, concluded that the Registrant’s disclosure controls and procedures were effective. During the six months ended June 30, 2026, there have been no changes in the Company’s internal controls over financial reporting that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting. ​ ​ 40 Table of Contents Part II – Other Information Item 1. Legal Proceedings The Company is subject to various legal actions arising in the normal course of business. In the opinion of management, the resolution of these legal actions is not expected to have a material adverse effect on the Company’s financial condition or results of operations. Item 1A. Risk Factors Not applicable, as the Company is a smaller reporting company. Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Not applicable. Item 3. Defaults Upon Senior Securities Not applicable. Item 4. Mine Safety Disclosures Not applicable. Item 5. Other Information During the six months ended June 30, 2026, none of our directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of the Company’s securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1 or any “ non-Rule 10b5-1 trading arrangement.” 41 Table of Contents Item 6. Exhibits ​ ​ ​ 3.1 ​ ​ ​ Articles of Incorporation of EWSB Bancorp, Inc. (1) ​ ​ ​ 3.2 ​ Articles Supplementary of EWSB Bancorp, Inc. for Series A Junior Non-Voting Participating Preferred Stock . (2) ​ 3.3 ​ Amended and Restated Bylaws of EWSB Bancorp, Inc . (3 ) ​ 4 ​ Form of Common Stock of EWSB Bancorp, Inc. (4 ) ​ 31 ​ Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 ​ ​ ​ 32 ​ Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 ​ ​ ​ 101 ​ The following materials formatted in Inline XBRL (Extensible Business Reporting Language): (i) Consolidated Balance Sheets as of June 30, 2026, (ii) Consolidated Statements of Income for the three and six months ended June 30, 2026, (iii) Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2026, (iv) Consolidated Statements of Changes in Stockholders’ Equity for the three and six months ended June 30, 2026, (v) Consolidated Statements of Cash Flows for the six months ended June 30, 2026 and (vi) Notes to Consolidated Financial Statements for the three and six months ended June 30, 2026. ​ ​ ​ 104 ​ Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101) (1) Incorporated by reference to Exhibit 3.1 to the Company’s Registration Statement on Form S-1, (Commission File No. 333-277828), initially filed on March 11, 2024. (2) Incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K (Commission File No. 000-56690, filed on April 24, 2026. (3) Incorporated by reference to Exhibit 3 to the Company’s Current Report on Form 8-K (Commission File No. 000-56690, filed on March 20, 2026. (4) Incorporated by reference to Exhibit 4 to the Company’s Registration Statement on Form S-1 (Commission File No. 333-277828), initially filed on March 11, 2024. 42 Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ​ ​ ​ ​ EWSB BANCORP, INC. ​ ​ ​ ​ Date: August 12, 2026 /s/ Charles D. Schmalz ​ Charles D. Schmalz ​ President, Chief Executive Officer and Chief Financial Officer ​ ​ ​ 43