SR Bancorp Inc. (SRBK)

Overview

SR Bancorp, Inc. serves as the parent company of Somerset Regal Bank, delivering a wide array of banking services aimed at individuals, businesses, and local government entities within Somerset, Middlesex, Hunterdon, and Essex counties of New Jersey. Founded in 1887 and headquartered in Bound Brook, New Jersey, the organization focuses on meeting the financial needs of its community through personalized retail and commercial banking solutions. Through its long-standing presence, SR Bancorp, Inc. has established itself as a trusted local financial institution, committed to supporting the economic growth and wellbeing of its service areas.

Products and Services

The comprehensive suite of banking products and services offered by SR Bancorp, Inc. includes:

• Deposit Instruments: SR Bancorp, Inc. provides a variety of deposit accounts to cater to the diverse needs of its customers. These include:
  • Noninterest-bearing demand deposits: Ideal for customers seeking easy access to their funds without the accrual of interest.
  • Interest-bearing demand accounts: Offers the flexibility of a demand deposit while earning interest on the balances.
  • Savings accounts: A safe option for customers looking to save money over time with interest accumulation.
  • Money market accounts: Combines the benefits of a savings account with the convenience of writing checks, typically offering higher interest rates.
  • Certificates of deposit (CDs): For customers willing to lock in their money for a predetermined period to earn a higher interest rate compared to regular savings accounts.
• Loans: A diverse range of lending options tailored to meet the financing needs of its customers, including:
  • One- to four-family residential mortgage loans: Offers financing solutions for homebuyers looking to purchase or refinance their homes.
  • Home equity loans and lines of credit: Enables homeowners to borrow against the equity in their homes for various purposes such as home improvements, debt consolidation, or major purchases.
  • Unsecured personal loans: Provides funds without requiring collateral, suitable for personal, family, or household needs.
  • Rehabilitation loans: Designed for the renovation and improvement of properties, enhancing their value and livability.
• Bill Payment Services: Offers convenient online and in-branch solutions for customers to manage and pay their bills, simplifying financial management and enhancing customer experience.
• Investment Activities: SR Bancorp, Inc. is also engaged in various investment activities, aiming to diversify its income sources and strengthen its financial stability.