SR Bancorp posts Q2 net income of $1.6M vs $10.5M loss prior quarter

SR Bancorp, Inc.

2024-Q2 EPS reported -$1.81

Net income of $1.6M for Dec 31, 2023 quarter, vs net loss of $10.5M in Sep 30, 2023 quarter.
Total assets of $1.07B, up 65% from $651.5M at June 30, 2023, reflecting Regal Bank acquisition.
Net loans $695.8M (+92.1%) and deposits $843.3M (+67.4%) vs June 30, 2023 levels.
Net interest income of $9.0M (vs $4.1M); net interest margin improved to 3.56% from 2.41%.
Adjusted net income $605,000 (excl merger costs & accretion) vs $586,000 prior quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SR Bancorp, Inc. reported three months ended December 31, 2023 results: net income $1.6 million.

Period: three months ended December 31, 2023
Net income: $1.6 million
Result: reported results

Exact text from the filing

SR BANCORP, INC. ANNOUNCES QUARTERLY FINANCIAL RESULTS Bound Brook, New Jersey (January 31, 2024) – SR BANCORP, INC. (the “Company”) (NASDAQ: SRBK), the holding company for Somerset Regal Bank (the “Bank”), announced today net income of $1.6 million for the three months ended December 31, 2023 (unaudited), compared to a net loss of $10.5 million for the three months ended September 30, 2023 (unaudited).

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Source: SEC EDGAR

accession 0000943374-24-000035

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