Accessibility StatementSkip Navigation BOUND BROOK, N.J., Sept. 12, 2025 /PRNewswire/ -- On July 31, 2025, SR Bancorp, Inc. (the "Company") (NASDAQ: SRBK), the holding company for Somerset Regal Bank (the "Bank"), issued a press release setting forth the financial results for the quarter and year ended June 30, 2025. This press release corrects certain information set forth in the original press release. Subsequent to the original press release, the Company recognized $1.5 million of gains from, and related ...

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]