Core Points - SR Bancorp, Inc. has declared a quarterly cash dividend of $0.05 per share, payable on October 15, 2025, to stockholders of record as of September 30, 2025 [1] - The Executive Chairman, David Orbach, expressed satisfaction with the company's strong financial position, enabling the dividend payment [1] Company Overview - SR Bancorp, Inc. is the holding company for Somerset Regal Bank, a full-service commercial bank based in Bound Brook, New Jersey, operating 14 branches across several counties [2] - As of June 30, 2025, Somerset Regal Bank reported total assets of $1.08 billion, net loans of $797.2 million, deposits of $846.0 million, and total equity of $193.8 million [2]

Core Viewpoint - SR Bancorp, Inc. reported significant improvements in financial performance for the quarter and year ended June 30, 2025, with net income of $2.2 million for the quarter and $5.1 million for the year, compared to net losses in the previous year. The results were positively impacted by gains from life insurance proceeds and adjustments related to the acquisition of Regal Bancorp. Financial Performance Summary - For the three months ended June 30, 2025, net income was $2.2 million, or $0.28 per basic share, compared to a net loss of $3.0 million for the same period in 2024 [1][5] - For the year ended June 30, 2025, net income was $5.1 million, or $0.61 per share, compared to a net loss of $10.9 million for the previous year [2][15] Income and Expenses - Interest income increased by $319,000, or 2.8%, to $11.7 million for the quarter, driven by a $644,000 increase in interest income on loans [6] - Interest expense rose by $806,000, or 23.4%, to $4.3 million for the quarter, primarily due to increased interest on demand deposits [7] - Net interest income decreased by $487,000, or 6.1%, to $7.5 million for the quarter, with a net interest margin of 2.90% [8][9] Provision for Credit Losses - The provision for credit losses was $238,000 for the quarter, reflecting loan growth and adjustments based on updated historical loss factors, compared to $153,000 for the same period in 2024 [11][20] Noninterest Income and Expenses - Noninterest income increased by $5.9 million, or 152.2%, to $2.0 million for the quarter, primarily due to gains from life insurance proceeds [12] - Noninterest expense increased by $216,000, or 3.3%, to $6.8 million for the quarter, largely due to higher salaries and employee benefits [13] Balance Sheet Highlights - Total assets increased by $63.6 million, or 6.2%, to $1.08 billion at June 30, 2025, driven by loan growth [3][24] - Net loans increased by $65.3 million, or 8.9%, to $797.2 million, while total deposits rose by $38.9 million, or 4.8%, to $846.0 million [3][27] - Equity decreased by $5.7 million, or 2.9%, to $193.8 million, primarily due to stock repurchases [29] Recent Corporate Actions - The conversion of Somerset Savings Bank from mutual to stock form and the related stock offering were completed on September 19, 2023, followed by the merger with Regal Bancorp [4]

Financial Performance - The company reported a net income of $823,000, or $0.10 per share, for the three months ended June 30, 2025, a significant improvement from a net loss of $3.0 million for the same period in 2024 [1][6] - For the year ended June 30, 2025, net income was $3.7 million, compared to a net loss of $10.9 million for the year ended June 30, 2024 [2][16] - Excluding one-time expenses, net income for the year ended June 30, 2025 would have been $1.7 million [2] Asset and Loan Growth - Total assets increased by $62.2 million, or 6.1%, to $1.08 billion at June 30, 2025, driven by new loan originations [3][24] - Net loans rose by $65.5 million, or 8.9%, to $797.3 million at June 30, 2025, with increases in residential mortgage loans and multi-family loans [3][26] Deposit and Borrowing Activity - Total deposits increased by $38.9 million, or 4.8%, to $846.0 million at June 30, 2025, attributed to raised rates on interest-bearing deposit products [3][27] - The company borrowed $30.0 million from the Federal Home Loan Bank of New York to enhance liquidity for new loans [28] Interest Income and Expense - Interest income for the three months ended June 30, 2025, increased by $319,000, or 2.8%, to $11.7 million, primarily due to a rise in interest income on loans [7] - Interest expense rose by $806,000, or 23.4%, to $4.3 million for the same period, driven by increased interest on demand deposits and borrowings [8][9] Noninterest Income and Expense - Noninterest income increased by $4.4 million, or 113.4%, to $522,000 for the three months ended June 30, 2025, recovering from a loss of $3.9 million in the prior year [13] - Noninterest expense rose by $216,000, or 3.3%, to $6.8 million, mainly due to higher salaries and employee benefits [14] Credit Loss Provisions - The company recorded a provision for credit losses of $81,000 for the three months ended June 30, 2025, down from $153,000 in the same period of 2024 [12] - The allowance for credit losses as a percentage of total loans was 0.65% at June 30, 2025, compared to 0.71% at June 30, 2024 [12][20] Equity and Stock Activity - Total equity decreased by $7.1 million, or 3.6%, to $192.4 million at June 30, 2025, primarily due to the repurchase of common stock [29] - The company completed a stock offering and merger in September 2023, which contributed to its current financial structure [4][5]

Core Viewpoint - SR Bancorp, Inc. has authorized a stock repurchase program for up to 10% of its outstanding shares, totaling 886,137 shares, marking its second repurchase initiative since its mutual-to-stock conversion in September 2023 [1] Group 1: Stock Repurchase Program - The new repurchase program will commence after the completion of the first program, which has 13,802 shares remaining [2] - Repurchases may occur in open market or private transactions, block trades, or through trading plans compliant with SEC Rule 10b5-1 [2][3] - The timing and amount of repurchases will depend on factors such as stock availability, market conditions, trading price, alternative capital uses, and the Company's financial performance [3] Group 2: Company Overview - SR Bancorp, Inc. is the holding company for Somerset Regal Bank, a full-service commercial bank in New Jersey with 14 branches across several counties [4] - As of March 31, 2025, Somerset Regal Bank reported total assets of $1.07 billion, net loans of $780.8 million, deposits of $835.6 million, and total equity of $199.1 million [4]

Company Overview - SR Bancorp, Inc. is the holding company for Somerset Regal Bank, a full-service commercial bank located in Bound Brook, New Jersey, operating 14 branches across several counties [2] - As of December 31, 2024, Somerset Regal Bank reported total assets of $1.06 billion, net loans of $775.8 million, deposits of $824.1 million, and total equity of $198.1 million [2] Dividend Announcement - The Board of Directors of SR Bancorp, Inc. has declared an initial quarterly cash dividend of $0.05 per share [1] - This dividend will be paid on April 15, 2025, to stockholders of record as of March 31, 2025 [1] - The CEO of SR Bancorp, Inc. expressed satisfaction with the company's strong financial position, enabling the payment of the cash dividend [1]