8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):   September 27, 2023

SR BANCORP, INC.

(Exact Name of Registrant as Specified in Charter)

Maryland	001-41808	92-2601722
(State or Other Jurisdiction of Incorporation)	(Commission File No.)	(I.R.S. Employer Identification No.)

220 West Union Avenue, Bound Brook, New Jersey	08805
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (732) 560-1700

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	SRBK	The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events

SR Bancorp, Inc. (the “Company”), the holding company for Somerset Regal Bank (the “Bank”), announced today the hiring of James Castelletti as the Bank’s Senior Commercial Lending Officer.

For more information, see the press release, dated September 27, 2023, which is filed as Exhibit 99.1 hereto and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No. Description

99.1 Press Release dated September 27, 2023.

104.1 The cover page for this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

		SR BANCORP, INC.
DATE: September 27, 2023	By:	/s/ William P. Taylor
		William P. Taylor
		Chief Executive Officer

EX-99.1

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

Contact:

William P. Taylor

Chairman and Chief Executive Officer

Somerset Regal Bank

220 West Union Avenue

Bound Brook, New Jersey 08805

(732) 560-1700, ext. 5201

Somerset Regal Bank Hires James Castelletti as Senior Commercial Lending Officer

BOUND BROOK, NJ – September 27, 2023 – SR Bancorp, Inc. (“SR Bancorp”), the holding company for Somerset Regal Bank (the “Bank”), announced today that James Castelletti has been appointed Senior Vice President and Senior Commercial Lending Officer.  In his new role, Mr. Castelletti will work with the Bank’s executive leadership team and Board of Directors to continue to diversify and grow the lending portfolio. Mr. Castelletti has extensive experience as a commercial real estate lender, most recently as Vice President – Commercial Real Estate Lender at Northfield Bank, and at Spencer Savings Bank and Wells Fargo Bank.

William P. Taylor, Chairman and Chief Executive Officer of Somerset Regal Bank said:  “We are pleased to welcome James to the Somerset Regal Bank team. His deep experience in the lending space and expert knowledge of the local market will prove invaluable to Somerset Regal Bank.”

About Somerset Regal Bank

Somerset Regal Bank, formed in 1887, is a New Jersey commercial bank headquartered in Bound Brook, New Jersey that operates 17 branches in Essex, Hunterdon, Middlesex, Morris, Somerset and Union Counties, New Jersey. Additional information about Somerset Regal is available on its website, www.somersetsavings.com.

Forward-Looking Statements

This press release contains certain forward-looking statements about the reorganization and subscription offering.  Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts.  They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”  Forward-looking statements, by their nature, are subject to risks and uncertainties.

XML

Document and Entity Information	Sep. 27, 2023
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Sep. 27, 2023
Entity File Number	001-41808
Entity Registrant Name	SR BANCORP, INC.
Entity Central Index Key	0001951276
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	92-2601722
Entity Address, Address Line One	220 West Union Avenue
Entity Address, City or Town	Bound Brook
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08805
City Area Code	732
Local Phone Number	560-1700
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	SRBK
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false