SR Bancorp reports FY2024 net loss of $10.9M; Q4 net loss $3.0M on securities sale

SR Bancorp, Inc.

2024-FY EPS reported -$1.59

FY2024 net loss of $10.9M vs net income of $1.6M prior year; includes $4.4M merger costs, $5.4M charitable donation, $4.4M securities loss.
Q4 FY2024 net loss of $3.0M vs Q3 net income of $1.1M; loss driven by $4.4M loss on securities sale.
Total assets $1.02B (+56.7% YoY); loans $731.9M (+102%) due to Regal Bancorp acquisition.
Balance sheet repositioning sold $35.4M securities, loss recouped in ~3.27 years via loan yields.
IPO and merger with Regal Bancorp completed Sep 2023; 9.5M shares outstanding, $86.9M net proceeds.

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