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SR Bancorp (SRBK) details Mercadien data breach affecting bank customers

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

SR Bancorp, Inc. reports that its internal audit service provider, Mercadien, P.C. CPAs, experienced a data security incident in which an unauthorized actor accessed and acquired files on Mercadien’s servers containing certain Somerset Regal Bank customer data. The bank’s own business systems, payment systems, customer access to accounts and core information technology infrastructure were not involved or disrupted. Exposed information on Mercadien’s servers may include customer names, social security numbers, account numbers, identification documents and/or dates of birth. Customer notifications are being provided through Mercadien under applicable federal and state requirements and regulatory guidance. As of this disclosure, the incident has not had, and is not expected to have, a material impact on SR Bancorp’s consolidated financial condition or results of operations, although the company notes forward-looking risks related to potential misuse of data, legal and regulatory consequences, and reputational effects.

Positive

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Negative

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Insights

Third-party vendor breach exposed customer data but spared core bank systems.

The incident arises from a compromise at Mercadien, SR Bancorp’s internal audit vendor, where an unauthorized actor accessed files containing Somerset Regal Bank customer data. Critically, the bank states its own operational, payment and core IT systems were not involved or disrupted.

The exposed data set is sensitive, including names, social security numbers, account numbers, IDs and dates of birth. This creates potential for identity theft and fraud risk for affected customers, and legal, regulatory and reputational risk for SR Bancorp, even if financial impact is currently assessed as immaterial.

The company is coordinating customer notifications through Mercadien under applicable laws and guidance and highlights factors that could change the impact assessment, such as publication or misuse of the data and additional cybersecurity incidents. Investors can anchor on the company’s current view that there is no material effect on consolidated financial condition or results of operations as of July 10, 2026, while recognizing that further developments could alter that assessment.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Disclosure date July 10, 2026 Date of the current report under the Securities Exchange Act of 1934
Form 10-K year-end referenced June 30, 2025 Year-end of the Annual Report cited for risk factors
data security incident technical
"Mercadien, P.C. CPAs has discovered a data security incident in which an unauthorized actor accessed"
unauthorized actor technical
"a data security incident in which an unauthorized actor accessed and acquired certain files"
core information technology infrastructure technical
"customer access to accounts or services, payment systems, or core information technology infrastructure"
forward-looking statements regulatory
"Forward Looking Statements This on contains forward-looking statements within the meaning of the federal"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

FAQ

What data security incident did SRBK disclose in its July 10, 2026 8-K?
SR Bancorp disclosed that vendor Mercadien, P.C. CPAs suffered a data security incident where an unauthorized actor accessed files on Mercadien’s servers containing certain Somerset Regal Bank customer data, including names, social security numbers, account numbers, identification documents and/or dates of birth.

Were SR Bancorp (SRBK) or Somerset Regal Bank systems disrupted by the incident?
No. The company states Somerset Regal Bank’s business systems, customer access to accounts or services, payment systems, and core information technology infrastructure were not involved in or impacted by the incident and there was no disruption to bank operations.

How is SR Bancorp (SRBK) handling customer notifications after the data incident?
SR Bancorp states that Somerset Regal Bank is providing customer notifications through Mercadien, in line with applicable federal and state laws and regulatory guidance. This process is intended to inform affected customers and comply with notification requirements.

Does SR Bancorp (SRBK) expect a material financial impact from the Mercadien incident?
As of the disclosure date, SR Bancorp reports the incident has not had and is not expected to have a material impact on its consolidated financial condition or results of operations, while cautioning that forward-looking risks and uncertainties remain.

What risks does SRBK highlight regarding the data security incident at Mercadien?
SR Bancorp notes risks from the ongoing assessment of the incident, potential publication or misuse of affected data, and possible legal, regulatory, reputational and financial consequences, as well as general cybersecurity risks described in its Form 10-K and subsequent Form 10-Q reports.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date of earliest event reported): July 10, 2026
 
 
SR BANCORP, INC.
(Exact Name of Registrant as Specified in Charter)
 
Maryland
001-41808
92-2601722
(State or Other Jurisdiction
of Incorporation)
(Commission File No.)
(I.R.S. Employer
Identification No.)
 
220 West Union Avenue, Bound Brook, New Jersey
08805
(Address of Principal Executive Offices)
(Zip Code)
 
Registrant’s telephone number, including area code: (732) 560-1700
 
Not Applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
 
Trading
Symbol(s)
 
Name of each exchange on which registered
Common Stock, $0.01 par value
 
SRBK
 
The NASDAQ Stock Market, LLC
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-SR2 of this chapter).
Emerging growth company ☒
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01
Other Events
 
Mercadien, P.C. CPAs (“Mercadien”), which provides internal audit-related services to SR Bancorp, Inc (the “Company”) and Somerset Regal Bank (the “Bank”), has discovered a data security incident in which an unauthorized actor accessed and acquired certain files on Mercadien’s computer servers, which included certain Bank customer data.  
 
Somerset Regal Bank’s business systems were not involved in or impacted by the incident.  The incident did not involve a disruption to the Bank’s operations, customer access to accounts or services, payment systems, or core information technology infrastructure. The information that Mercadien had on its computer servers included the name, social security number, account numbers, identification documents and/or date of birth for certain Bank customers.
 
The Bank is providing customer notifications through Mercadien, as required by applicable federal and state laws and regulatory guidance.
 
The Company remains committed to protecting its customers’ data.
 
As of the date of this disclosure, this incident has not had, and is not expected to have, a material impact on the Company’s consolidated financial condition or results of operations.
 
Forward Looking Statements
 
This Current Report on Form 8-K contains forward-looking statements within the meaning of the federal securities laws, including, without limitation: the Company’s current beliefs, understanding, and expectations regarding the incident; statements regarding the nature and scope of the incident; the Company’s ongoing assessment of the extent, categories and volume of data that was accessed or exfiltrated; the Company’s ongoing efforts to assess and contain the threat, including the Company’s assessment of whether there is any ongoing unauthorized access to its systems; the availability and adequacy of the Company’s insurance coverage; and the reasonably likely impact of the incident on the Company’s business, operations, financial condition and results of operations. These statements are based on current information, estimates and assumptions and are subject to known and unknown risks and uncertainties. Actual results may differ materially from those expressed or implied by these forward-looking statements. Factors that could cause actual results to differ from those expressed in these forward-looking statements include the ongoing assessment of the incident; the potential publication or misuse of affected data by the threat actor or other parties; legal, regulatory, reputational, and financial risks resulting from the incident or additional cybersecurity incidents; and the risks described in the Company’s Annual Report on Form 10-K for the year ended June 30, 2025 and subsequent Quarterly Reports on Form 10-Q. Except as required by law, the Company undertakes no obligation to update these statements.
 
Item 9.01
Financial Statements and Exhibits
 
(a)
Financial Statements of Businesses Acquired.  Not applicable.
   
(b)
Pro Forma Financial Information.  Not applicable.
   
(c)
Shell Company Transactions.  Not applicable.
   
(d)
Exhibits.  None.
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
 
 
   
SR Bancorp, Inc.
 
 
 
DATE:  July 10, 2026
By:  
/s/ Christopher J. Pribula
   
Christopher J. Pribula
   
Chief Executive Officer
 
2026-07-10 0001951276 false 0001951276 2026-07-06 2026-07-06

Source: View Original Filing on SEC EDGAR

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