---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-126505"
form_type: "8-K"
ticker: "SRBK"
cik: "0001951276"
company_name: "SR Bancorp, Inc."
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:18:28.476942+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# SR Bancorp posts Q3 net income $1.1M, adjusted net income drops to $258K on merger costs

## Summary
- Net income $1.1M for quarter ended March 31, 2024, down 33.9% from $1.6M prior quarter; adjusted net income was $258K.
- Total assets $1.05B at March 31, 2024, up 61.6% from June 30, 2023 due to Regal Bancorp acquisition.
- Net loans $698.9M (+92.9%) and deposits $838.0M (+66.3%) driven by merger; no outstanding borrowings.
- Net interest margin narrowed 21 bps QoQ to 3.31%; net interest income fell 8.3% to $8.3M.
- Two branches closed Jan/Mar 2024; $200K in additional data processing costs expected in next quarter.

## SEC filing metadata
- accession: 0001193125-24-126505
- form_type: 8-K
- ticker: SRBK
- cik: 0001951276
- company_name: SR Bancorp, Inc.
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1951276/000119312524126505/0001193125-24-126505-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1951276/000119312524126505/d790373d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-126505
- JSON: https://secwatch.observer/filing/0001193125-24-126505.json
- Plain text: https://secwatch.observer/filing/0001193125-24-126505.txt

## Key facts
- Earnings Releases
  SR Bancorp, Inc. reported the three months ended March 31, 2024 results: net income $1.1 million.
  - Period: the three months ended March 31, 2024
  - Net income: $1.1 million
  - Result: reported results
  source text: SR BANCORP, INC. (the “Company”) (NASDAQ: SRBK), the holding company for Somerset Regal Bank (the “Bank”), announced net income of $1.1 million for the three months ended March 31, 2024 (unaudited)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1951276/000119312524126505/0001193125-24-126505-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.