SRBK · SR Bancorp, Inc. Common stock

SR Bancorp reported strong fiscal third-quarter results for the period ended March 31, 2026, with net income surging 65% to $886,000, or $0.12 per diluted share, compared to $537,000, or $0.06 per share, in the same quarter last year. The improvement was driven by a 8.8% increase in net interest income to $7.8 million, as net interest margin expanded 18 basis points to 3.00%. Loan growth was robust, with net loans increasing 7.8% from June 30, 2025 to $859.1 million, funded by deposit growth and additional borrowings. The provision for credit losses rose to $84,000 from $37,000, reflecting loan growth, but the company reported no non-performing loans and no charge-offs. Noninterest income was essentially flat at $545,000, while noninterest expense increased only 0.6% to $7.4 million, indicating effective cost management despite higher salaries and employee benefits. The effective tax rate jumped to 24.1% from 14.2% due to non-deductible stock option expenses. Excluding net accretion income from fair value adjustments related to the Regal Bancorp acquisition, adjusted net income was $784,000 for the quarter. The company's balance sheet strengthened, with total assets reaching $1.14 billion. Overall, the results reflect successful execution of growth strategy and improved profitability.