(RTTNews) - SR Bancorp, Inc. (SRBK), the holding company for Somerset Regal Bank, has announced the launch of a new stock repurchase program authorizing the buyback of up to 886,137 shares, representing 10 percent of its outstanding common stock.
This marks the company's second repurchase initiative since completing its mutual-to-stock conversion and related offering on September 19, 2023.
The new program will begin once the company completes its current repurchase plan, which has 13,802 shares remaining.
Tuesday, SRBK closed at $13.86, or 2.44% higher on the NasdaqCM.
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