SR Bancorp posts Q1 profit of $1.4M vs year-ago loss; loans up 4.9%

SR Bancorp, Inc.

2024-Q1 EPS reported $0.16

Net income $1.4M ($0.16 EPS) compared to net loss of $10.5M in prior-year quarter.
Net loans $767.7M, up 4.9% from June 30; total assets $1.05B, up 3.1%.
Net interest income rose 83.2% to $7.6M; net interest margin expanded 80 bps to 3.21%.
Credit loss recovery of $154K vs $4.2M provision last year; nonperforming loans only $9K.
Repurchased 66,288 shares; borrowed $20M from FHLB to fund loan originations.

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