Quarterly ResultMay 15, 2026, 11:13 AM
URSB Bancorp Completes Conversion & IPO; Q1 Net Income $155K
AI Summary
URSB Bancorp, Inc. successfully completed its mutual-to-stock conversion and initial public offering (IPO) on March 26, 2026, significantly increasing its equity base. For the first quarter ended March 31, 2026, the company reported a net income of $155K, up from $133K in the prior year. Total assets grew to $380.6 million, while net interest income increased to $2.51 million.
Key Highlights
- Completed mutual-to-stock conversion and IPO on March 26, 2026.
- Net income for Q1 2026 increased to $155K from $133K in Q1 2025.
- Basic EPS for Q1 2026 was $0.07.
- Total equity rose to $39.8 million from $20.0 million as of Dec 31, 2025.
- Total assets increased to $380.6 million from $368.0 million.
- Net interest income grew to $2.51 million from $1.97 million.
- Loans receivable, net, increased to $304.7 million from $300.4 million.
- Deposits decreased to $285.8 million from $291.0 million.
Price Impact
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