Somerset Regal Bank adopts supplemental executive retirement plan for three officers

SR Bancorp, Inc.

Plan adopted April 25, 2024, retroactive to May 1, 2023, for William P. Taylor, Christopher J. Pribula, and David M. Orbach.
SERP replaces frozen qualified pension plan; provides supplemental deferred compensation benefits.
Participants 100% vested at all times; benefits payable in 20 annual installments after separation from service.
Annual contributions determined by the Bank; amounts not disclosed but documented each Plan Year.
For-cause termination results in forfeiture of all benefits under the plan.

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