SR Bancorp Inc
For the period ended Mar 31, 2024. Filed May 15, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
SRBK$18.90-0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
For the Nine Months Ended March 31, 2024 and 2023 (Unaudited)
| Nine Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows from Operating Activities | ||
| Net (loss) income | $(7,828) | $1,013 |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by by operating activities: | ||
| Provision for credit losses | 3,913 | — |
| Depreciation | 520 | 310 |
| Deferred income tax benefit | (1,454) | (334) |
| Accretion of acquisition fair value adjustments, net | (3,878) | — |
| Amortization of core deposit intangible asset | 933 | — |
| Net amortization of premiums and discounts on securities | 220 | 376 |
| Net amortization of deferred loan fees, costs and discounts | 279 | 448 |
| Income from cash surrender value of bank owned life insurance | (655) | (483) |
| Stock-based compensation expense | 428 | — |
| Unrealized (gain) loss on equity securities | (3) | 1 |
| Realized gain on sale of investments | (33) | — |
| (Increase) decrease in: | ||
| Accrued interest receivable | (84) | (27) |
| Other assets | 1,133 | (982) |
| Other liabilities | 99 | 1,118 |
| Net cash (used in) provided by operating activities | (6,410) | 1,440 |
| Cash Flows from Investing Activities | ||
| Proceeds from sales, maturities and principal repayments of securities available- for-sale | 16,808 | 8,073 |
| Proceeds from maturities and principal repayments of securities held-to- maturity | 11,747 | 17,610 |
| Purchase of securities held-to-maturity | — | (788) |
| Proceeds from time deposits in other financial institutions | 8,810 | — |
| Net increase in loans receivable | (14,454) | (23,230) |
| Purchase of premises and equipment | (358) | (378) |
| Cash paid for acquisition | (69,538) | — |
| Cash received from acquisition | 55,294 | — |
| Net cash provided by investing activities | 8,309 | 1,287 |
| Cash Flows from Financing Activities | ||
| Net decrease in interest bearing deposits | (35,330) | (4,262) |
| Net decrease in non-interest bearing deposits | (3,315) | (763) |
| Net increase in advance payments by borrowers for taxes and insurance | 2,810 | 137 |
| Proceeds from borrowings | — | 20,000 |
| Repayment of borrowings | (20,000) | — |
| Proceeds from issuance of common stock | 83,980 | — |
| Net cash provided by financing activities | 28,145 | 15,112 |
| Net increase in cash and cash equivalents | 30,044 | 17,839 |
| Cash and Cash Equivalents, Beginning of Period | 42,449 | 35,344 |
| Cash and Cash Equivalents, End of Period | $72,493 | $53,183 |
| Supplementary Cash Flow Information | ||
| Cash paid during the period for: | ||
| Interest paid | $6,361 | $1,345 |
| Income taxes paid | $475 | $410 |
| Acquisition: | ||
| Fair value of assets acquired, net of cash and cash equivalents acquired | $372,739 | $— |
| Goodwill recorded at merger | $20,477 | $— |
| Fair value of liabilities assumed | $378,972 | $— |
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