Short answer
SR Bancorp, Inc. (SRBK) filed its fiscal 2026 10-K annual report with the SEC on Sep 25, 2026. It reported revenue of $50M (+7.0% year over year) and net income of $3M.
- Top risk flagged: Non-compliance risk under USA PATRIOT Act and Bank Secrecy Act may result in fines or sanctions, affecting acquisitions or branch establishment
FY2026 key financial metrics · XBRL
- Revenue
- $50M
- +7.0% YoY
- Net income
- $3M
- −34.7% YoY
- EPS (diluted)
- $0.44
- −27.9% YoY
- ROE
- 1.8%
- −0.8 pp YoY
- Operating cash flow
- $11M
- +129.4% YoY
Source: XBRL data from the SR Bancorp, Inc. (SRBK) FY2026 10-K on SEC EDGAR. USD.
SR Bancorp, Inc. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Bank holding company owning Somerset Regal Bank offering deposit and loan products in northern and central New Jersey
- New emphasis on commercial lending expertise and loan portfolio diversification post-Sep 2023 merger of Somerset Bank with Regal Bank
- Strategic shift: Enhanced commercial loan originations with commercial loans increasing to 45.7% of total loan portfolio at June 30, 2026
- Quantitative: Total assets $1.19B, deposits $926.4M, loan portfolio grew 13.0% from $800.2M to $904.5M from 2025 to 2026
- Noteworthy: Completed mutual-to-stock conversion, sold 9.1M shares at $10/share, and made $69.5M cash acquisition of Regal Bancorp in 2023 Merger
Management Discussion & Analysis
- Revenue: Interest income $49.6M, up 7.0% YoY from $46.3M; noninterest income $2.2M, down 40.7% from $3.7M mainly due to $1.5M life insurance gain in prior year
- Profitability: Net income $3.4M vs $5.1M YoY; net interest margin 3.04% vs 2.93%; net interest income $31.2M up 5.6%
- Best segment: Loan portfolio grew $104M (13.0%) driven by residential mortgage +$48.5M and multi-family commercial loans +$33.0M; worst segment: noninterest income down $1.5M mostly from life insurance proceeds loss
- Cash flow & capital: Deposits up $80.4M to $926.4M; borrowings increased $35.0M to $65.0M; repurchased 978,778 shares for $16.0M; dividends paid $1.6M; originated $155.1M loans, purchased $40.5M loans
- Outlook & risks: Focus on expanding lending, maintaining asset quality (no non-performing loans); managing interest rate risk with diversified loan portfolio; well-capitalized; potential EVE decline up to 29.2% if rates rise 400bps
Risk Factors
- Non-compliance risk under USA PATRIOT Act and Bank Secrecy Act may result in fines or sanctions, affecting acquisitions or branch establishment
- Local New Jersey economic downturn could increase non-performing loans; $885.7 million (97.9%) of loans secured by local real estate collateral
- Heavy reliance on third-party brokers for residential ($40.5M, 41.3%) and multi-family ($91.1M, 100%) loan originations risks business disruption
- Competition from larger, more diversified financial institutions with better pricing and technology threatens market share and net interest margin
- Certificates of deposit due within one year total $257.4 million (27.8% of deposits), exposing liquidity risk if unable to renew or replace funds
Generated from the filing text; verify against the original. How to read a 10-K
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