secwatch.observer — SEC 8-K summary
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Issuer:     SR Bancorp, Inc. (SRBK)
CIK:        0001951276
Form:       8-K
Filed at:   2023-09-20T23:59:59+00:00
Accession:  0000943374-23-000387
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Somerset Savings Bank reports net income $1.6M; SR Bancorp stock offering and Regal merger set
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- Net income $1.6M for year ended June 30, 2023, down 17% from $1.9M; adjusted net income $2.0M excluding Regal acquisition costs.
- Total assets $651.5M (+0.4%), net loans $362.3M (+8.3%), deposits $503.9M (-3.5%).
- Net interest margin expanded 41 bps to 3.00%; borrowed $20M from Fed Bank Term Funding Program for liquidity.
- SR Bancorp expects to sell 9,055,172 shares at $10.00 each; trading on Nasdaq begins Sept 20 under 'SRBK'.
- Regal Bancorp merger to close promptly after conversion; each Regal share to receive $23.00 cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1951276/000094337423000387/0000943374-23-000387-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1951276/000094337423000387/form8k_092023er.htm
  HTML page:      https://secwatch.observer/filing/0000943374-23-000387

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