SR Bancorp, Inc.

SR Bancorp, Inc. reported a data security incident at Mercadien, P.C. CPAs, a third-party provider of internal audit-related services. An unauthorized actor accessed and acquired certain files on Mercadien's servers, which included some Bank customer data such as names, social security numbers, account numbers, identification documents, and dates of birth. SR Bancorp's own business systems and operations were not involved or impacted. The Bank is notifying affected customers and does not expect a material impact on its consolidated financial condition or results of operations.

SR Bancorp, Inc. announced a 20% increase in its quarterly cash dividend, raising it to $0.06 per share from $0.05. The dividend is scheduled for payment on July 15, 2026, to stockholders of record as of June 30, 2026. President and CEO Christopher J. Pribula highlighted that this increase reflects the company's strong earnings and financial position, reinforcing its commitment to enhancing shareholder value.

SR Bancorp, Inc. announced the authorization of its third stock repurchase program, allowing for the buyback of up to 10% of its outstanding common stock, totaling 801,320 shares. This program will commence upon the completion of the company's second repurchase program, which currently has 22,176 shares remaining. The repurchases will be conducted in open market or private transactions, depending on market conditions and financial performance.

SR Bancorp reported a significant increase in net income and basic earnings per share for the three months ended March 31, 2026, compared to the same period in the prior year. This performance was supported by an 8.8% rise in net interest income. The company also demonstrated solid balance sheet growth, with total assets, deposits, and net loans receivable all increasing since June 30, 2025, alongside continued share repurchases.

SR Bancorp, Inc. announced a significant increase in net income for the three months ended March 31, 2026, reaching $886,000, up 65.0% year-over-year, with EPS doubling to $0.12. Excluding acquisition-related accretion income, adjusted net income also showed strong growth. The company reported robust balance sheet expansion, with total assets increasing 5.4% to $1.14 billion, net loans growing 7.8% to $859.1 million, and deposits rising 5.7% to $894.3 million since June 30, 2025. Net interest income and margin also saw healthy improvements for the quarter.

SR Bancorp, Inc. announced amended and restated employment agreements for executive officers William Taylor, Christopher Pribula, and David Orbach, effective April 22, 2026. The updates primarily reflect recent title changes and establish new base salaries. Mr. Taylor's agreement is for one year at $260,000, while Messrs. Pribula and Orbach have three-year agreements with salaries of $490,000 and $410,000, respectively, with automatic extensions.