URSB Bancorp, Inc 10-Q for FY2026 Q1

URSB Bancorp, Inc. (URSB)

10-Q 2026-05-15 For: 2026-03-31

Added on May 17, 2026

About this 10-Q

URSB Bancorp, Inc filed this 10-Q on May 15, 2026, covering the quarter ended March 31, 2026 (FY2026 Q1).

Headline figures

Quarter ended March 31, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Net income: $155K; up 16.5% from net income of $133K a year earlier
Diluted EPS: $0.07

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Large accelerated filer	☐	Accelerated filer	☐

Non-accelerated filer	☒	Smaller reporting company	☒	Emerging growth company	☒

		Page
Part I	Financial Information	4

Item 1.	Financial Statements (unaudited)	4

	Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025	4

	Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025	5

	Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2026 and 2025	6

	Consolidated Statements of Shareholders’ Equity for the three months ended March 31, 2026 and 2025	7

	Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025	8

	Notes to Consolidated Financial Statements	9

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	29

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	37

Item 4.	Controls and Procedures	40

Part II	Other Information	41

Item 1.	Legal Proceedings	41

Item 1A.	Risk Factors	41

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	41

Item 3.	Defaults Upon Senior Securities	41

Item 4.	Mine Safety Disclosures	41

Item 5.	Other Information	41

Item 6.	Exhibits	42

Exhibit Index		42

Signatures		43



	March 31, 2026		December 31, 2025
Assets
Cash and due from banks	$	1,147	$	1,902
Interest-bearing deposits		16,849		6,489
Cash and cash equivalents		17,996		8,391
Securities available for sale (amortized cost of $27,114 and $26,329, respectively)		26,474		25,834
Securities held to maturity, net of allowance for credit losses of $76 and $75, respectively (fair value of $11,541 and $12,532, respectively)		11,777		12,789
Loans receivable, net of allowance for credit losses of $2,365 and $2,277, respectively		304,741		300,438
Premises and equipment, net		2,461		2,509
Federal Home Loan Bank of New York stock, at cost		2,279		2,369
Atlantic Community Bankers Bank stock, at cost		80		80
Accrued interest receivable		1,492		1,481
Bank owned life insurance (BOLI)		7,089		7,026
Other assets		6,217		7,056
Total assets	$	380,606	$	367,973
Liabilities and Equity
Liabilities:
Deposits	$	285,785	$	290,950
Advance payments by borrowers for taxes and insurance		1,498		1,401
Borrowings		51,572		53,572
Other liabilities		1,973		2,056
Total liabilities		340,828		347,979

Equity:
Common stock (par value $0.01 per share; 2,334,375 shares issued and outstanding at March 31, 2026)		23		—
Additional paid in capital		21,581		—
Retained earnings		20,619		20,464
Accumulated other comprehensive loss		(578)		(470)
Common stock held by the employee stock ownership plan ("ESOP")		(1,867)		—
Total equity		39,778		19,994
Total liabilities and equity	$	380,606	$	367,973



	Three Months Ended
	March 31,
	2026		2025
Interest and dividend income:
Loans	$	4,387	$	3,519
Securities		393		301
Other earning assets		256		196
Total interest and dividend income		5,036		4,016
Interest expense:
Deposits:
NOW and money market		400		326
Savings and club		17		37
Certificates of deposit		1,602		1,189
Borrowings		505		490
Total interest expense		2,524		2,042
Net interest income		2,512		1,974
Provisions (credits) for credit losses		99		(41)
Net interest income after provision (credits) for credit losses		2,413		2,015
Non-interest income:
Fees and service charges		61		52
Increase in cash surrender value of BOLI		63		36
Loss on sales of securities		—		(130)
Other		17		—
Total non-interest income (loss)		141		(42)
Non-interest expenses:
Salaries and employee benefits		1,054		922
Occupancy expense		103		97
Equipment		257		256
Directors' compensation		58		51
Professional fees		166		118
Advertising		70		62
Federal deposit insurance premium		111		81
Other		558		163
Total non-interest expenses		2,377		1,750
Net income before taxes		177		223
Income tax expense		22		90
Net income	$	155	$	133

Earnings per common share:
Basic	$	0.07		N/A
Diluted	$	0.07		N/A

Weighted average shares outstanding		2,147,625		N/A


	Three Months Ended
	March 31,
	2026		2025
Net income	$	155	$	133
Other comprehensive income:
Unrealized (losses) gains on securities:
Unrealized holding (losses) gains on available for sale securities		(144)		147
Reclassification adjustment for losses realized in income		—		130
Net unrealized (losses) gains		(144)		277
Tax effects		36		(76)
Net-of-tax amount		(108)		201
Total other comprehensive (loss) income		(108)		201
Comprehensive income	$	47	$	334


Title of Each Class	Trading symbol	Name of Exchange on which registered


									Accumulated
	Shares of								Other
	Common		Common		Additional		Retained		Comprehensive		Unearned ESOP
	Stock		Stock		Paid in Capital		Earnings		Income (Loss)		Shares		Total
Balance, December 31, 2025		—	$	—	$	—	$	20,464	$	(470)	$	—	$	19,994
Net income		—		—		—		155		—		—		155
Issuance of Shares in Initial Public Offering, net of expenses $1,740		2,314,375		23		21,381		—		—		—		21,404
Issuance and Contribution of shares to the URSB Charitable Foundation		20,000		—		200		—		—		—		200
Purchase of 186,750 shares by ESOP		—		—		—		—		—		(1,867)		(1,867)
Other comprehensive income		—		—		—		—		(108)		—		(108)
Balance, March 31, 2026		2,334,375	$	23	$	21,581	$	20,619	$	(578)	$	(1,867)	$	39,778


	March 31, 2026
	Amortized		Gross Unrealized				Fair
	Cost		Gains		Losses		Value

	(In thousands)
Mortgage-Backed Securities:
Due within one year	$	1	$	—	$	—	$	1
Due after ten years		4,994		20		(579)		4,435
		4,995		20		(579)		4,436
Collateralized Mortgage Obligations (CMO):
Due within one year		574		—		(2)		572
Due after ten years		13,479		71		(17)		13,533
		14,053		71		(19)		14,105
Corporate Bonds:
Due after five through ten years		1,000		19		—		1,019
		1,000		19		—		1,019
Agency Securities:
Due after one through five years		2,000		—		(125)		1,875
		2,000		—		(125)		1,875
Small Business Administration:
Due after ten years		5,066		1		(28)		5,039
		5,066		1		(28)		5,039

	$	27,114	$	111	$	(751)	$	26,474


	March 31, 2026
	Less than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses

	(In thousands)
Mortgage-Backed Securities	$	830	$	(4)	$	2,573	$	(575)	$	3,403	$	(579)
CMO		1,244		(17)		573		(2)		1,817		(19)
Agency Securities		—		—		1,875		(125)		1,875		(125)
Small Business Administration		—		—		4,352		(28)		4,352		(28)
	$	2,074	$	(21)	$	9,373	$	(730)	$	11,447	$	(751)


	March 31, 2026
	Amortized		Allowance for		Gross Unrealized				Fair
	Cost		Credit Losses		Gains		Losses		Value

	(In thousands)
Mortgage-Backed Securities:
Due after ten years	$	853	$	—	$	14	$	—	$	867
		853		—		14		—		867
Corporate Bonds:
Due after one through five years		2,500		(31)		—		(73)		2,396
Due after five through ten years		4,500		(45)		33		(129)		4,359
		7,000		(76)		33		(202)		6,755
Agency Securities:
Due within one year		3,000		—		—		(22)		2,978
Due after one through five years		1,000		—		—		(59)		941
		4,000		—		—		(81)		3,919
	$	11,853	$	(76)	$	47	$	(283)	$	11,541


	Corporate
	Bonds
	(In thousands)
Balance, December 31, 2025	$	75
Provision (reversal) for credit losses		1
Balance at March 31, 2026	$	76

	Corporate
	Bonds
	(In thousands)
Balance, December 31, 2024	$	86
Provision (reversal) for credit losses		(16)
Balance at March 31, 2025	$	70


	March 31,		December 31,
	2026		2025

	(In thousands)
Residential real estate	$	147,508	$	143,600
Commercial real estate		86,340		88,100
Commercial and industrial		8,027		7,940
BHG loans		32,297		34,778
Consumer loans		31,090		26,544
Total loans		305,262		300,962
Allowance for credit losses on loans		(2,365)		(2,277)
Premiums on loans purchased		644		566
Deferred loan fees, net		1,200		1,187
		(521)		(524)
Net loans	$	304,741	$	300,438


		Three Months Ended March 31, 2026
		Allowance for Credit Losses on Loans
		Beginning			Charge-						Provisions		Ending
		Balance			offs			Recoveries			(Credits)		Balance

		(In thousands)
Residential		$	778		$	—		$	—		$	148	$	926
Commercial real estate			658			—			—			103		761
Commercial and industrial			68			—			—			(52)		16
BHG Commercial loans			32			—			—			32		64
Consumer			741			—			—			(143)		598
		$	2,277		$	—		$	—		$	88	$	2,365


	Three Months Ended March 31, 2025
	Allowance for Credit Losses on Loans
	Beginning		Charge-				Provisions		Ending
	Balance		offs		Recoveries		(Credits)		Balance

	(In thousands)
Residential	$	142	$	—	$	—	$	447	$	589
Commercial real estate		1,034		—		—		(403)		631
Commercial and industrial		90		—		90		(115)		65
BHG Commercial loans		97		—		—		44		141
Consumer		—		—		—		28		28
	$	1,363	$	—	$	90	$	1	$	1,454


	March 31, 2026
			Unfunded		Debt
	Loans		Loan		Securities		Aggregate
	Receivable		Commitments		(HTM)		ACL

	(In thousands)
Beginning balance	$	2,277	$	16	$	75	$	2,368
Provisions, net of credit adjustments		88		10		1		99
Charge-offs, net of recoveries		—		—		—		—
Ending balance	$	2,365	$	26	$	76	$	2,467


	As of and the Year Ended December 31, 2025
	Loans By Risk Rating by Origination Year
	2024		2023		2022		2021		2020		2019		Prior		Total

Rating:	(In thousands)
Residential real estate:
Performing	$	42,621	$	29,684	$	27,356	$	8,878	$	10,777	$	4,543	$	19,699	$	143,558
Nonperforming		—		—		42		—		—		—		—		42
Total	$	42,621	$	29,684	$	27,398	$	8,878	$	10,777	$	4,543	$	19,699	$	143,600
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate:
Pass	$	6,251	$	12,710	$	11,054	$	23,473	$	18,277	$	6,810	$	8,505	$	87,080
Special Mention		—		941		—		—		—		—		—		941
Substandard		—		—		70		—		9		—		—		79
Total	$	6,251	$	13,651	$	11,124	$	23,473	$	18,286	$	6,810	$	8,505	$	88,100
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

C&I - Other:
Pass	$	3,811	$	2,084	$	1,582	$	362	$	101	$	—	$	—	$	7,940
Total	$	3,811	$	2,084	$	1,582	$	362	$	101	$	—	$	—	$	7,940
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

C&I - Bankers Health Group:
Pass	$	7,718	$	9,049	$	6,739	$	6,643	$	732	$	773	$	285	$	31,939
Substandard		—		106		901		1,386		29		340		77		2,839
Total	$	7,718	$	9,155	$	7,640	$	8,029	$	761	$	1,113	$	362	$	34,778
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer:
Performing	$	26,442	$	60	$	—	$	—	$	—	$	—	$	42	$	26,544
Nonperforming		—		—		—		—		—		—		—		—
Total	$	26,442	$	60	$	—	$	—	$	—	$	—	$	42	$	26,544
Current period gross write-offs	$	29	$	—	$	—	$	—	$	—	$	—	$	—	$	29

Grand Total	$	86,843	$	54,634	$	47,744	$	40,742	$	29,925	$	12,466	$	28,608	$	300,962
Current period gross write-offs	$	29	$	—	$	—	$	—	$	—	$	—	$	—	$	29


			March 31,
			2026
					Weighted
					Average
Maturity		Amount			Rate

		(Dollars in thousands)
2026		$	91,778			3.41	%
2027			36,223			3.57	%
2028			18,836			4.09	%
2029			9,165			4.33	%
2030			9,249			3.86	%
2031			4,269			3.77	%
2035			4,000			4.10	%
		$	173,520			3.61	%


		March 31,					December 31,
		2026					2025
					Weighted Average					Weighted Average
		Amount			Rate		Amount			Rate

Federal Home Loan Bank		(In thousands)
Fixed Rate Advances:
Overnight borrowing		$	—		0.00	%	$	—		0.00	%
2026			7,000		4.02	%		9,000		4.06	%
2027			7,686		4.08	%		7,686		4.08	%
2028			8,111		3.89	%		8,111		3.89	%
2029			5,000		4.01	%		5,000		4.01	%
2030			10,000		3.75	%		10,000		3.75	%
2034			1,000		3.42	%		1,000		3.42	%
2035			6,000		3.42	%		6,000		3.42	%
Total FHLB Advances ⁽¹⁾		$	44,797		3.85	%	$	46,797		3.87	%
FRB Advances
2025		$	—		0.00	%	$	—		0.00	%
Total FRB Advances		$	—		0.00	%	$	—		0.00	%
Senior Notes (UR Bancorp)
2026		$	4,000		6.19	%	$	4,000		6.19	%
2027			1,175		6.50	%		1,175		6.50	%
2028			1,600		6.13	%		1,600		6.13	%
Total Senior Notes		$	6,775		6.23	%	$	6,775		6.23	%
Total Borrowings		$	51,572		4.16	%	$	53,572		4.17	%


	March 31, 2026
									To be Well Capitalized
					For Capital Adequacy				Under Prompt Corrective
	Bank Actual				Purposes				Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio

	(Dollar amounts in thousands)
Total capital (to risk-weighted assets)	$	37,084	14.43	%	$	20,564	8.00	%	$	25,705	10.00	%
Tier 1 capital (to risk-weighted assets)		34,618	13.47	%		15,423	6.00	%		20,564	8.00	%
Common equity Tier 1 (to risk-weighted assets)		34,618	13.47	%		11,567	4.50	%		16,708	6.50	%
Tier 1 capital (Leverage) (to average total assets)		34,618	8.94	%		15,490	4.00	%		19,363	5.00	%


	March 31, 2025
			Unfunded		Debt
	Loans		Loan		Securities		Aggregate
	Receivable		Commitments		(HTM)		ACL

	(In thousands)
Beginning balance	$	1,363	$	57	$	86	$	1,506
Provisions, net of credit adjustments		1		(26)		(16)		(41)
Recoveries, net of charge-offs		90		—		—		90
Ending balance	$	1,454	$	31	$	70	$	1,555


	As of and the Three Months Ended March 31, 2026
	Loans By Risk Rating by Origination Year
	2026		2025		2024		2023		2022		2021		Prior		Total

Rating:	(In thousands)
Residential real estate:
Performing	$	5,784	$	44,360	$	28,460	$	26,283	$	8,469	$	10,608	$	23,502	$	147,466
Nonperforming		—		—		—		42		—		—		—		42
Total	$	5,784	$	44,360	$	28,460	$	26,325	$	8,469	$	10,608	$	23,502	$	147,508
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate:
Pass	$	1,114	$	6,128	$	12,643	$	10,745	$	23,001	$	15,752	$	14,677	$	84,060
Special mention		—		—		938		—		318		976		—		2,232
Substandard		—		—		—		48		—		—		—		48
Total	$	1,114	$	6,128	$	13,581	$	10,793	$	23,319	$	16,728	$	14,677	$	86,340
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

C&I - Other:
Pass	$	900	$	3,573	$	2,015	$	1,174	$	339	$	26	$	—	$	8,027
Total	$	900	$	3,573	$	2,015	$	1,174	$	339	$	26	$	—	$	8,027
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

C&I - Bankers Health Group:
Pass	$	—	$	7,579	$	8,819	$	5,861	$	6,093	$	662	$	913	$	29,927
Substandard		—		—		93		821		1,039		27		390		2,370
Total	$	—	$	7,579	$	8,912	$	6,682	$	7,132	$	689	$	1,303	$	32,297
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer:
Performing	$	7,001	$	23,990	$	60	$	—	$	—	$	—	$	39	$	31,090
Nonperforming		—		—		—		—		—		—		—		—
Total	$	7,001	$	23,990	$	60	$	—	$	—	$	—	$	39	$	31,090
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Grand Total	$	14,799	$	85,630	$	53,028	$	44,974	$	39,259	$	28,051	$	39,521	$	305,262
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


		March 31, 2026
					Non-accrual Loans
		Non-accrual Loans			without Allowance			Total Loans
		with Allowance for			for			on
		Credit Loss			Credit Loss			Non-accrual

		(In thousands)
Residential		$	—		$	42		$	42
Commercial real estate			—			48			48
		$	—		$	90		$	90


		Three Months Ended March 31, 2026
					% of Total
					Class of
		Payment			Financing
		Deferred			Receivable

		(Dollars in thousands)
Residential real estate		$	—		0.00	%
Commercial real estate			1,295		1.50	%
Total		$	1,295


		Assets at Fair Value
		as of March 31, 2026
		Assets at Fair Value
		Level 1			Level 2			Level 3			Total

		(In thousands)
Securities available for sale:
Mortgage-Backed Securities		$	—		$	4,436		$	—		$	4,436
CMO			—			14,105			—			14,105
Corporate Bonds			—			1,019			—			1,019
Agency Securities			—			1,875			—			1,875
Small Business Administration			—			5,039			—			5,039
		$	—		$	26,474		$	—		$	26,474


		Assets at Fair Value
		as of December 31, 2025
		Level 1			Level 2			Level 3			Total

		(In thousands)
Securities available for sale:
Mortgage-Backed Securities		$	—		$	3,729		$	—		$	3,729
CMO			—			14,127			—			14,127
Corporate Bonds			—			1,015			—			1,015
Agency Securities			—			1,886			—			1,886
Small Business Administration			—			5,077			—			5,077
		$	—		$	25,834		$	—		$	25,834


			Fair Value
	Carrying
	Amount		Level 1		Level 2		Level 3

	(In thousands)
March 31, 2026
Financial assets:
Cash and cash equivalents (including CD investments)	$	17,996	$	17,996	$	—	$	—
Securities available for sale		26,474		—		26,474		—
Securities held to maturity		11,777		—		9,041		2,500
Restricted stock in banks		2,359		—		—		2,359
Loans, net		304,741		—		—		305,958
Accrued interest receivable		1,492		—		1,492		—
Financial liabilities:
Deposits		285,785		—		—		272,754
Mortgagors' escrow accounts		1,498		—		1,498		—
Federal Home Loan Bank advances		44,797		—		44,773		—
Senior notes payable		6,775		—		—		6,726
Accrued interest payable		420		—		420		—

December 31, 2025
Financial assets:
Cash and cash equivalents (including CD investments)	$	8,391	$	8,391	$	—	$	—
Securities available for sale		25,834		—		25,834		—
Securities held to maturity		12,789		—		10,032		2,500
Restricted stock in banks		2,449		—		—		2,449
Loans, net		300,438		—		—		302,035
Accrued interest receivable		1,481		—		1,481		—
Financial liabilities:
Deposits		290,950		—		—		281,244
Mortgagors' escrow accounts		1,401		—		1,401		—
Federal Home Loan Bank and FRB advances		46,797		—		47,049		—
Senior notes payable		6,775		—		—		6,689
Accrued interest payable		352		—		352		—


	At March 31,		Three Months Ended March 31,
	2026		2026						2025
	Weighted		Average						Average
	Average		Outstanding				Average		Outstanding				Average
	Yield/Rate		Balance		Interest		Yield/Rate		Balance		Interest		Yield/Rate

			(Dollars in thousands)
Interest-earning assets:
Cash and cash equivalents	3.68	%	$	23,790	$	212	3.61	%	$	9,099	$	97	4.32	%
Investment in certificates of deposit	0.00			—		—	0.00			4,127		53	5.21
Securities available for sale	4.32			26,775		292	4.42			17,881		162	3.67
Securities held to maturity	3.32			12,503		101	3.28			19,002		139	2.97
Loans receivable, net	5.62			305,415		4,387	5.83			252,432		3,519	5.65
Other interest-earning assets	6.28			2,386		44	7.48			2,103		46	8.87
Total interest-earning assets	5.30			370,869		5,036	5.51			304,644		4,016	5.35
Noninterest-earning assets				16,762						11,359
Total assets			$	387,631					$	316,003

Interest-bearing liabilities:
Interest-bearing checking accounts	1.70	%	$	64,381		268	1.69	%	$	62,305		216	1.41	%
Money market accounts	2.07			25,901		132	2.07			21,018		110	2.12
Savings and club accounts	0.18			35,916		17	0.19			23,792		37	0.63
Brokered certificates of deposit	3.78			67,977		614	3.66			56,864		535	3.82
Non-brokered certificates of deposit	3.57			110,588		988	3.62			76,767		654	3.46
Total interest-bearing deposits	2.60			304,763		2,019	2.69			240,746		1,552	2.61
Senior notes	6.11			6,775		105	6.29			6,593		101	6.21
Federal Home Loan Bank advances	3.56			45,399		400	3.57			39,839		359	3.65
Federal Reserve Bank advances	4.20			—		—	0.00			2,591		30	4.70
Other interest-bearing liabilities	3.89			52,174		505	3.93			49,023		490	4.05
Total interest-bearing liabilities	2.79			356,937		2,524	2.87			289,769		2,042	2.86
Noninterest-bearing demand deposits				9,018						6,796
Other noninterest-bearing liabilities				1,284						954
Total liabilities				367,239						297,519
Total equity				20,392						18,484
Total liabilities and equity				387,631						316,003
Net interest income					$	2,512					$	1,974
Net interest rate spread ⁽¹⁾	2.51	%					2.64	%					2.49	%
Net interest-earning assets ⁽²⁾			$	13,932					$	14,875
Net interest margin ⁽³⁾	2.63	%					2.75	%					2.63	%
Average interest-earning assets to interest-bearing liabilities	104.16	%					103.90	%					105.13	%


	Three Months Ended March 31, 2026 vs. 2025
	Increase (Decrease) Due to:				Total Increase
	Volume		Rate		(Decrease)

	(In thousands)
Interest-earning assets:
Cash and cash equivalents	$	156	$	(41)	$	115
Investment in certificates of deposit		(53)		—		(53)
Securities available for sale		80		50		130
Securities held to maturity		(48)		10		(38)
Loans receivable, net		738		130		868
Other interest-earning assets		6		(8)		(2)
Total interest-earning assets		879		141		1,020

Interest-bearing liabilities:
Interest-bearing checking accounts		7		45		52
Money market accounts		26		(4)		22
Savings and club accounts		19		(39)		(20)
Brokered certificates of deposit		105		(26)		79
Non-brokered certificates of deposit		289		45		334
Total interest-bearing deposits		446		21		467
Senior notes		3		1		4
Federal Home Loan Bank advances		50		(9)		41
Federal Reserve Bank advances		(30)		—		(30)
Other interest-bearing liabilities		23		(8)		15
Total interest-bearing liabilities		469		13		482
Change in net interest income	$	410	$	128	$	538


At March 31, 2026
Change in Interest Rates		Net Interest Income Year 1
(basis points) ⁽¹⁾		Forecast			Year 1 Change from Level
		(Dollars in thousands)
400		$	7,921		(23.40)	%
300			8,564		(17.18)	%
200			9,191		(11.12)	%
100			9,791		(5.32)	%
Level			10,341		—
(100)			10,895		5.36	%
(200)			11,169		8.01	%
(300)			10,430		0.86	%


At December 31, 2025
Change in Interest Rates		Net Interest Income Year 1
(basis points) ⁽¹⁾		Forecast			Year 1 Change from Level
		(Dollars in thousands)
400		$	7,995		(24.42)	%
300			8,687		(17.88)	%
200			9,359		(11.52)	%
100			9,996		(5.50)	%
Level			10,578		—
(100)			11,103		4.96	%
(200)			11,447		8.22	%
(300)			10,767		1.79	%


At March 31, 2026
							EVE as a Percentage of Present
							Value of Assets ⁽³⁾
			Estimated Increase (Decrease) in						Increase
Change in Interest	Estimated		EVE						(Decrease)
Rates (basis points) ⁽¹⁾	EVE ⁽²⁾			Amount	Percent		EVE Ratio ⁽⁴⁾		(basis points)
(Dollars in thousands)
400	$	38,816	$	(15,322)	(28.30)	%	11.14	%	(304)
300		42,962		(11,176)	(20.64)	%	12.04	%	(214)
200		46,820		(7,318)	(13.52)	%	12.82	%	(136)
100		50,717		(3,421)	(6.32)	%	13.58	%	(60)
Level		54,138		—	—	%	14.18	%	—
(100)		57,472		3,334	6.16	%	14.73	%	55
(200)		59,126		4,988	9.21	%	14.86	%	68
(300)		55,125		987	1.82	%	13.61	%	(57)


Exhibit No.		Description
31.1†		Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2†		Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1†		Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2†		Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS†		XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document

101.SCH†		XBRL Taxonomy Extension Schema Document

101.CAL†		XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF†		XBRL Taxonomy Extension Definition Linkbase Document

101.LAB†		XBRL Taxonomy Extension Label Linkbase Document

101.PRE†		XBRL Taxonomy Extension Presentation Linkbase Document

104†		Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)


	URSB BANCORP, INC. (REGISTRANT)

	By:	/s/ Kenneth R. Totten
	Name:	Kenneth R. Totten
	Title:	Chairman, President, Chief Executive Officer
		(Principal Executive Officer)

	By:	/s/ David Van Steyn
	Name:	David Van Steyn
	Title:	Chief Financial Officer and Treasurer
		(Principal Financial and Accounting Officer)

Date:	May 15	, 2026	/s/ Kenneth R. Totten
			Kenneth R. Totten
			Chairman, President and Chief Executive Officer