The bank will repurchase up to 10% of its outstanding stock after completing its current buyback plan.
SR Bancorp (SRBK) has authorized a new stock repurchase program for up to 801.3K shares, representing nearly 10% of its outstanding common stock. The plan will commence once the company finalizes its ongoing second buyback initiative.
The announcement follows prior repurchase efforts, though details on the size or completion timeline of the current program were not disclosed. Buyback programs are often used to return value to shareholders and signal confidence in a company’s financial health.
No immediate market reaction was reported following the announcement.