SR Bancorp, Inc. announced net income of $823,000, or $0.10 per basic and diluted share, for the three months ended June 30, 2025, a significant turnaround from a net loss of $3.0 million in Q2 2024. For the full year ended June 30, 2025, net income reached $3.7 million, or $0.44 per share, compared to a net loss of $10.9 million in FY 2024.
Despite the return to profitability, net interest income for Q2 2025 decreased by $487,000, or 6.1%, to $7.5 million, and the net interest margin narrowed by 32 basis points to 2.90%. This was primarily due to a $806,000 increase in interest expense, as rising deposit costs outpaced increases in interest income from new loans.
Total assets grew to $1.08 billion, an increase of $62.2 million, or 6.1%, from June 30, 2024. Net loans increased by $65.5 million, or 8.9%, to $797.3 million, and total deposits rose by $38.9 million, or 4.8%, to $846.0 million, demonstrating continued balance sheet expansion.
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