SR BANCORP, INC. ANNOUNCES FOURTH QUARTER AND ANNUAL FINANCIAL RESULTS (CORRECTED)

Published: Friday, September 12, 2025 at 8:00 pm

SR Bancorp Reports Corrected Financial Results

SR Bancorp, Inc. (NASDAQ: SRBK), the holding company for Somerset Regal Bank, has released corrected financial results for the quarter and year ending June 30, 2025. The revisions include gains from life insurance proceeds and adjustments to the allowance for credit losses.

For the three months ending June 30, 2025, the company reported net income of $2.2 million, a significant improvement compared to a net loss of $3.0 million in the same period of 2024. The positive results were partially influenced by gains from life insurance proceeds.

For the year ending June 30, 2025, SR Bancorp reported net income of $5.1 million, a substantial turnaround from the $10.9 million net loss in the prior year. The company's financial performance was impacted by one-time expenses related to the acquisition of Regal Bancorp and the establishment of a charitable foundation.

Total assets for the company reached $1.08 billion at the end of June 2025, a 6.2% increase from the previous year. Net loans also saw an increase, reaching $797.2 million, while total deposits rose to $846.0 million. The company's financial performance was also impacted by the conversion of Somerset Savings Bank, SLA from the mutual to stock form of organization and related stock offering by the Company was completed on September 19, 2023.

BNN's Perspective: The financial turnaround at SR Bancorp is encouraging, reflecting strategic adjustments and improved operational performance. However, the impact of one-time events and the changing interest rate environment warrant close monitoring.

Keywords: SR Bancorp, Somerset Regal Bank, financial results, net income, net loss, assets, loans, deposits, merger, interest rates, financial performance, stock offering

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