8-K
SR Bancorp, Inc. (SRBK)
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<br><br> <br>of Incorporation) | (Commission File No.) | (I.R.S. Employer<br><br> 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<br><br> <br>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 |
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.