secwatch.observer — SEC 8-K summary
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Issuer:     SR Bancorp, Inc. (SRBK)
CIK:        0001951276
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001193125-24-126505
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1951276/000119312524126505/0001193125-24-126505-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1951276/000119312524126505/d790373d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-126505

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer