S
SR Bancorp, Inc.
SRBKCIK 0001951276NasdaqEmerging GrowthSavings Institutions, Not Federally CharteredMarylandFY ends Jun 30
Period
FY 2025
Revenue
—
Net Income
$5.14M
Total Assets
$1.08B
Equity
$193.78M
Shares Out
8.34M
Op. Cash Flow
$4.67M
Business
SR Bancorp, Inc. is a bank holding company that owns the outstanding common stock of Somerset Regal Bank and holds regulatory responsibilities as the parent entity. The company’s primary offerings include deposit accounts, consumer and commercial loans (including residential mortgages, multi‑family, commercial real estate and small business/SBA lending), investment securities and related banking services such as online banking and mortgage purchasing. Its reported organizational structure consists of the holding company, Somerset Regal Bank and bank subsidiaries (RB Properties, Somerset Investment Company and an inactive consumer services entity). The Bank distributes products through its network of full‑service branches in northern and central New Jersey, online channels and relationships with local mortgage brokers and correspondent banks.
Summary from filing dated 2025-09-29
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 |
|---|---|---|---|---|---|
| Loans, including fees | 42 | 34 | 11 | 9 | |
| Securities, taxable | 2 | 3 | 4 | 4 | |
| Federal funds sold | — | 157,000 | — | — | |
| Interest bearing deposits at other banks | 2 | 4 | 1 | 127,000 | |
| Total interest income | 46 | 41 | 16 | 13 | |
| Demand | 5 | 1 | 96,000 | 88,000 | |
| Savings and time | 11 | 10 | 2 | 1 | |
| Borrowings | 1 | 808,000 | 245,000 | — | |
| Total interest expense | 17 | 11 | 2 | — | |
| Net Interest Income | 30 | 29 | 14 | 12 | |
| Provision for credit losses | 133,000 | 4 | 0 | — | |
| Net Interest Income After Provision For Credit Losses | 29 | 25 | 14 | 12 | |
| Service charges and fees | 894,000 | 818,000 | 667,000 | 688,000 | |
| Increase in cash surrender value of bank owned life insurance | 1 | 907,000 | 658,000 | 622,000 | |
| Fees and service charges on loans | 145,000 | 89,000 | 21,000 | 21,000 | |
| Unrealized gain on equity securities | 13,000 | 1,000 | 5,000 | −8,000 | |
| Realized loss on sale of securities | — | −4 | −119,000 | — | |
| Gain on sale of loans | 51,000 | 55,000 | 1,000 | — | |
| Gains from life insurance proceeds | 1 | 0 | — | — | |
| Other | 96,000 | 102,000 | 33,000 | 28,000 | |
| Total noninterest income (loss) | 4 | −2 | 1 | — | |
| Salaries and employee benefits | 14 | 15 | 8 | 6 | |
| Occupancy | 2 | 2 | 728,000 | 710,000 | |
| Furniture and equipment | 1 | 966,000 | 561,000 | 2 | |
| Data processing | 2 | 3 | 1 | — | |
| Advertising | 385,000 | 301,000 | 198,000 | 266,000 | |
| FDIC premiums | 480,000 | 468,000 | 182,000 | 151,000 | |
| Directors fees | 366,000 | 389,000 | 327,000 | 297,000 | |
| Professional fees | 2 | 2 | 1 | 412,000 | |
| Insurance | 589,000 | 546,000 | 165,000 | 168,000 | |
| Telephone, postage and supplies | 755,000 | 626,000 | 316,000 | 323,000 | |
| Other | 3 | 9 | 644,000 | 585,000 | |
| Total noninterest expense | 27 | 35 | 13 | 11 | |
| Income (loss) Before Income Tax Expense (Benefit) | 6 | −12 | 2 | 2 | |
| Income Tax Expense (Benefit) | 991,000 | −909,000 | 250,000 | 363,000 | |
| Net Income (Loss) | 5 | −11 | 2 | 2 | |
| Basic earnings (loss) per share | 0.61 | −1.59 | — | — | |
| Diluted earnings (loss) per share | 0.61 | −1.59 | — | — | |
| Weighted average number of common shares outstanding - basic | 8 | 7 | 0 | — | |
| Weighted average number of common shares outstanding - diluted | 8 | 7 | 0 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 4 | 9 | 9 | 8 | — | |
| Interest-bearing deposits at other banks | 54 | 37 | 34 | 28 | — | |
| Total cash and cash equivalents | 58 | 46 | 42 | 35 | — | |
| Securities held-to-maturity, at amortized cost | 142 | 156 | 171 | 193 | — | |
| Equity securities, at fair value | 37,000 | 25,000 | 24,000 | 19,000 | — | |
| Loans receivable, net of allowance for credit losses of $5,362 and $5,229, respectively | 797 | 732 | 362 | — | — | |
| Premises and equipment, net | 5 | 5 | 4 | 3 | — | |
| Right of use asset | 3 | 2 | 19,000 | — | — | |
| Restricted equity securities, at cost | 3 | 1 | 726,000 | 702,000 | — | |
| Accrued interest receivable | 3 | 3 | 1 | 1 | — | |
| Bank owned life insurance | 37 | 37 | 29 | 28 | — | |
| Goodwill and intangible assets | 27 | 28 | — | — | — | |
| Other assets | 10 | 10 | 5 | 5 | — | |
| Total assets | 1,084 | 1,021 | 651 | 649 | — | |
| Noninterest-bearing | 114 | 108 | 41 | 44 | — | |
| Interest-bearing | 732 | 699 | 463 | 478 | — | |
| Total deposits | 846 | 807 | 504 | 522 | — | |
| Borrowings | 30 | 0 | 20 | — | — | |
| Advance payments by borrowers for taxes and insurance | 9 | 8 | 4 | 4 | — | |
| Accrued interest payable | 223,000 | 149,000 | — | — | — | |
| Lease liability | 3 | 2 | 19,000 | — | — | |
| Other liabilities | 2 | 4 | 1 | 4 | — | |
| Total liabilities | 891 | 821 | 529 | 530 | — | |
| Preferred Stock, $0.01 par value, 5,000,000 shares authorized, none issued | — | — | — | — | — | |
| Common stock, $0.01 par value, 50,000,000 authorized; 8,875,170 and 9,507,930 shares issued and outstanding as of June 30, 2025, and June 30, 2024, respectively | 89,000 | 95,000 | — | — | — | |
| Additional paid-in capital | 81 | 91 | — | — | — | |
| Retained earnings | 121 | 116 | 127 | 126 | — | |
| Unearned compensation ESOP | −7 | −7 | — | — | — | |
| Accumulated other comprehensive loss | −1 | −1 | −5 | −7 | — | |
| Total stockholders' equity | 194 | 199 | 122 | 118 | 122 | |
| Total liabilities and stockholders' equity | 1,084 | 1,021 | 651 | 649 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 |
|---|---|---|---|---|---|
| Net income (loss) | 5 | −11 | 2 | 2 | |
| Depreciation | 910,000 | 799,000 | 413,000 | 395,000 | |
| Deferred income tax benefit | −298,000 | −1 | −366,000 | 264,000 | |
| Accretion of acquisition fair value adjustments, net | −4 | −5 | — | — | |
| Amortization of core deposit intangible asset | 1 | 1 | — | — | |
| Net amortization of premiums and discounts on securities | 731,000 | 280,000 | 567,000 | 687,000 | |
| Net amortization of deferred loan fees, costs and discounts | 269,000 | 364,000 | 568,000 | 434,000 | |
| Amortization of right to use asset | 0 | 35,000 | −19,000 | — | |
| Stock-based compensation expense | 1 | 515,000 | — | — | |
| Loss on sale of investments, net | 0 | 4 | 119,000 | — | |
| Proceeds from sales of loans held for sale | 575,000 | 4 | 300,000 | — | |
| Originations of loans held for sale | −524,000 | −4 | −299,000 | — | |
| Gain on sale of premises and equipment | 0 | −13,000 | — | — | |
| Noncash expense of common shares contributed to Somerset Regal Bank Charitable Foundation | 0 | 5 | — | — | |
| Accrued interest receivable | −555,000 | −292,000 | −121,000 | −29,000 | |
| Other assets | 2 | 2 | −1 | −218,000 | |
| Decrease in other liabilities | −1 | −2 | 1 | −2 | |
| Net cash provided by (used in) operating activities | 5 | −2 | 2 | 1 | |
| Proceeds from sales, maturities, and principal repayments of securities available-for-sale | 0 | 8 | 10 | 14 | |
| Proceeds from maturities, calls and principal repayments of securities held-to-maturity | 14 | 15 | 18 | 35 | |
| Proceeds from sale of securities available-for-sale | 0 | 41 | 451,000 | 0 | |
| Proceeds from sale of time deposits in other financial institutions | 0 | 9 | — | — | |
| Net increase in loans receivable | −61 | −46 | −28 | −28 | |
| Purchase of premises and equipment | −433,000 | −1 | −516,000 | −327,000 | |
| Proceeds from sale of premises and equipment | 0 | 13,000 | — | — | |
| Purchase of restricted equity securities | −3 | 43,000 | −24,000 | — | |
| Cash paid for acquistion | 0 | −70 | — | — | |
| Cash received from acquisition | 0 | 55 | — | — | |
| Net cash provided by (used in) investing activities | −50 | 12 | 3 | −35 | |
| Net increase (decrease) in interest bearing deposits | 33 | −51 | −15 | 8 | |
| Net increase (decrease) in non-interest bearing deposits | 6 | −19 | −3 | 4 | |
| Net increase in advance payments by borrowers for taxes and insurance | 663,000 | 4 | 245,000 | 382,000 | |
| Net increase in short-term borrowings | 30 | — | — | — | |
| Repayment of short-term borrowings | 0 | −20 | — | — | |
| Dividends Paid | −444,000 | — | — | — | |
| Cash proceeds from issuance of common stock | 0 | 79 | — | — | |
| Repurchase of common stock | −11 | — | — | — | |
| Net cash provided by (used in) financing activities | 58 | −7 | 2 | 12 | |
| Net increase (decrease) in cash and cash equivalents | 12 | 3 | 7 | −21 | |
| Interest paid | 15 | 10 | 2 | 2 | |
| Income Taxes Paid | 0 | 475,000 | 0 | 370,000 | |
| Fair Value of Assets Acquired | 0 | 373 | — | — | |
| Goodwill Recorded at Merger | 0 | 20 | — | — | |
| Fair value of liabilities assumed | 0 | 379 | — | — | |
| Fair values of 452,758 common shares contributed to Somerset Regal Bank Charitable Foundation | 0 | 5 | — | — |
Filings
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