SR Bancorp, Inc. announced the authorization of its second stock repurchase program, allowing for the buyback of up to 10% of the company's outstanding shares of common stock, totaling 886,137 shares. This program follows the completion of its mutual-to-stock conversion in September 2023.
The new repurchase program is expected to commence after the company completes its first repurchase program, which has 13,802 shares remaining. This initiative demonstrates SR Bancorp's commitment to capital management and returning value to its shareholders.
The timing and amount of repurchases will depend on various factors, including market conditions and the company's financial performance. Such programs can enhance earnings per share by reducing the number of outstanding shares.
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