SR Bancorp, Inc. Debt Disclosure

At June 30, 2024 there were no borrowings from the FHLB of New York.

At June 30, 2024 and June 30, 2023, the Bank could borrow overnight funds from the FHLB-NY under a redesigned overnight advance program up to the Bank’s maximum borrowing capacity based on the Bank’s ability to collateralize such borrowings. At June 30, 2024, the Bank’s maximum borrowing capacity was $100.0 million.

At June 30, 2024 and June 30, 2023, the Bank’s Board of Directors has authorized borrowings of up to $25.0 million from the Federal Reserve Bank of New York (“FRB-NY”). All borrowings are secured by pledges of the Bank’s qualifying loan portfolio and are generally on overnight terms with an interest rate quoted at the time of the borrowing.

In March 2023, the Federal Reserve established the Bank Term Funding Program (“BTFP”) to make available funding to eligible depository institutions in order to help assure they have the ability to meet the needs of their depositors following the then-recent events in the banking industry. The program allowed for advances for up to one year secured by eligible high-quality securities at par value extended at the one-year overnight index swap rate, plus 10 basis points, as of the day the advance is made. The interest rate was fixed for the term of the advance and there were no prepayment penalties. At June 30, 2023, the Bank had outstanding borrowings of $20.0 million under the BTFP at a borrowing rate of 4.76% with a maturity date of March 29, 2024. At June 30, 2024, the Bank had no outstanding borrowings under the BTFP, nor any other outstanding borrowings.