SR Bancorp Inc
For the period ended Sep 30, 2024. Filed Nov 14, 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.
Sep 30, 2024 · Filed Nov 14, 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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Consolidated Statements of Cash Flows
| Three Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows from Operating Activities | ||
| Net income (loss) | $1,367 | $(10,498) |
| Adjustments to reconcile net income (loss) to net cash (used in) provided by by operating activities: | ||
| (Credit) provision for credit losses | (154) | 4,162 |
| Depreciation | 297 | 102 |
| Deferred income tax benefit | 130 | 443 |
| Accretion of acquisition fair value adjustments, net | (1,416) | (215) |
| Amortization of core deposit intangible asset | 386 | 54 |
| Net amortization of premiums and discounts on securities | 55 | 77 |
| Net amortization of deferred loan fees, costs and discounts | 67 | 116 |
| Income from cash surrender value of bank owned life insurance | (260) | (175) |
| Stock-based compensation expense | 94 | 10 |
| Unrealized (gain) loss on equity securities | (2) | 3 |
| Loss on sale of investments, net | — | 17 |
| Gain on sale of loans held for sale | (24) | — |
| Proceeds from sales of loans held for sale | 274 | — |
| Originations of loans held for sale | (250) | — |
| Noncash expense of common shares contributed to Somerset Regal Bank Charitable Foundation | — | 4,528 |
| (Increase) decrease in: | ||
| Accrued interest receivable | (105) | 80 |
| Other assets | 1,909 | (3,594) |
| Increase (decrease) in other liabilities | (579) | 3,338 |
| Net cash provided by (used in) operating activities | 1,789 | (1,552) |
| Cash Flows from Investing Activities | ||
| Proceeds from maturities, calls and principal repayments of securities available-for-sale | — | 12,945 |
| Proceeds from maturities, calls and principal repayments of securities held-to-maturity | 3,573 | 4,773 |
| Proceeds from sale of time deposits in other financial institutions | — | 8,810 |
| Net increase in loans receivable | (34,298) | (12,582) |
| Purchase of premises and equipment | (82) | (273) |
| Purchase of restricted equity securities | (900) | — |
| Cash paid for acquisition | — | (69,538) |
| Cash received from acquisition | — | 55,294 |
| Net cash used in investing activities | (31,707) | (571) |
| Cash Flows from Financing Activities | ||
| Net increase (decrease) in interest bearing deposits | 5,957 | (15,974) |
| Net increase in non-interest bearing deposits | 6,270 | 17,405 |
| Net decrease in advance payments by borrowers for taxes and insurance | (183) | (98) |
| Proceeds from short-term borrowings | 20,000 | — |
| Cash proceeds from issuance of common stock | — | 79,452 |
| Repurchase of common stock | (737) | — |
| Net cash provided by financing activities | 31,307 | 80,785 |
| Net increase in cash and cash equivalents | 1,389 | 78,662 |
| Cash and Cash Equivalents, Beginning of Period | 45,909 | 42,449 |
| Cash and Cash Equivalents, End of Period | $47,298 | $121,111 |
| Supplementary Cash Flow Information | ||
| Cash paid during the period for: | ||
| Interest paid | $3,657 | $1,111 |
| Income taxes paid | $— | $375 |
| 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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