Somerset Savings Bank
Somerset Savings Bank, operating as Somerset Regal Bank, is a New Jersey community bank and wholly-owned subsidiary of SR Bancorp (NASDAQ: SRBK), operating 14 branches across six counties with $1.14 billion in assets serving retail consumers, small businesses, and low-to-moderate-income borrowers.
- Company typePublic
- Founded2025
- HeadquartersBound Brook, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Somerset Savings Bank does
Somerset Savings Bank operates as Somerset Regal Bank, the wholly-owned banking subsidiary of publicly traded SR Bancorp, Inc. (NASDAQ: SRBK). Headquartered in Bound Brook, New Jersey, the bank runs 14 branches across six New Jersey counties with $1.14 billion in total assets as of March 31, 2026. It serves retail consumers, small and medium-sized businesses, and low-to-moderate-income borrowers with a full suite of deposit products (checking, savings, Premium Money Market at 3.35% APY), residential mortgages (including a 5/1 ARM at 5.625% rate / 6.360% APR), home equity loans, business lending, and commercial lending. The bank also operates a Low and Moderate Income Mortgage Program targeting affordable homeownership.
The technology stack is built on Digital Insight's third-party digital banking platform, augmented by Somerset Regal Mobile Banking (iOS/Android) supporting mobile deposit and account management, a Mortgage Web Center self-service loan origination portal, Zelle for peer-to-peer payments, Apple Pay/Google Pay mobile wallet integration, and CreditSenseSM credit monitoring. Customer acquisition and service run through a hybrid model: 14 physical branches for relationship banking plus digital channels for self-service account opening, loan applications, bill pay, eStatements, and account alerts.
The business model is a traditional community bank spread model. Primary revenue is net interest income (interest earned on the loan portfolio net of interest paid on deposits), supplemented by non-interest income from deposit service fees (overdraft, ATM, wire), mortgage origination income, and interchange. Capital is returned to shareholders through quarterly cash dividends (most recently raised 20% to $0.06 per share in June 2026) and active stock repurchase programs (a third program authorizing up to 10% of outstanding shares was adopted in May 2026). Revenue concentration across retail and SMB customer segments in a single state (New Jersey) implies low individual-customer concentration but meaningful geographic concentration risk.
Somerset Savings Bank firmographics
Firmographics- Name
- Somerset Savings Bank
- Legal name
- Somerset Regal Bank
- Website
- https://somersetsavings.com
- Company type
- Public
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Somerset Savings Bank, operating as Somerset Regal Bank, is a New Jersey community bank and wholly-owned subsidiary of SR Bancorp (NASDAQ: SRBK), operating 14 branches across six counties with $1.14 billion in assets serving retail consumers, small businesses, and low-to-moderate-income borrowers.
- Ownership category
- akta.pro rank
Somerset Savings Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Savings Institutions and Other Depository Credit Intermediation (522180)
- SIC
- State Commercial Banks (6022), Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Savings Banks (Public/State-Owned) (FSABAKAK)
Keywords
Where Somerset Savings Bank is headquartered
LocationHeadquarters
- HQ city
- Bound Brook
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Somerset Savings Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Infrastructure, Technology or R&D, Operations, Marketing or Sales
Revenue model
- Net Interest Income: Interest income earned on loan portfolio (including mortgages, equity loans, commercial lending, and business loans) minus interest paid on deposits. Primary revenue driver for the bank.
- Non-Interest Income: Fee income from deposit services including overdraft fees, ATM fees, wire transfer fees, and other service charges. Also includes income from the mortgage web center loan origination platform.
- Dividend Distributions: As a publicly traded holding company (SR Bancorp, Inc.), the company returns capital to shareholders through quarterly cash dividends. Dividend was increased 20% to $0.06 per share in June 2026, payable July 15, 2026.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Premium Money Market Account — higher balances earn tiered rates, with top rate of 3.35% APY, plus check-writing privileges and no monthly fees. |
| Unit Pricing | Monthly | 5/1 ARM Home Loan — 5.625% rate, 6.360% APR, with local decision-making and free mortgage counseling. |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels6 records
Somerset Savings Bank product offering
Product offeringCore offering
Somerset Savings Bank operates as a New Jersey community bank offering personal and small business banking products, including checking, savings and money market accounts, residential mortgages, equity loans, and commercial/business lending. Services are delivered through 14 branches across 6 New Jersey counties, complemented by digital channels (consumer and business online banking plus the Somerset Regal Mobile Banking app). The bank, doing business as Somerset Regal Bank, is a subsidiary of SR Bancorp, Inc. (NASDAQ: SRBK).
Product overview
Somerset Regal Bank operates a traditional community banking model with a unified platform of deposit, lending, and digital banking services. The core offering consists of consumer and business checking and savings accounts alongside residential mortgage, equity loan, and commercial lending products. Digital banking is delivered through a third-party platform (Digital Insight) providing online and mobile access with feature modules including Bill Pay, eStatements, Mobile Deposit, Zelle®, Mobile Wallet, and CreditSenseSM. The bank runs 14 branches across six New Jersey counties with $1.14 billion in total assets as of March 2026.
Differentiator
Problem solved
Functional benefit
Products and services
- Consumer Checking Accounts
- Savings and Money Market Accounts
- Business Checking
- Business Savings
- Residential Mortgages
- Low and Moderate Income Mortgage Program
- Equity Loans
- Business Lending
- Commercial Lending
- Consumer Online Banking
- Business Online Banking
- Somerset Regal Mobile Banking
Quantifiable outcome
- Dividend increased 20% to $0.06 per share, reflecting strong earnings and financial position
- +3 more outcomes
Companies that use Somerset Savings Bank
Customer profileSegments3 records
Ideal customer profiles2 records
Somerset Savings Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature4 records
Somerset Savings Bank partnerships and signals
Strategic signalScale indicators6 records
Recent moves6 records
Expansion highlights4 records
Somerset Savings Bank competitors and assessment
Company assessmentDirect peers
- Kearny Financial Corp: NJ-headquartered mutual holding company operating Kearny Bank, a community savings institution with a similar deposit, mortgage, and consumer banking model serving New Jersey and surrounding markets.
- BCB Bancorp: New Jersey community bank holding company operating BCB Community Bank with a comparable consumer and commercial banking model, including mortgages, business lending, and deposit products across northern NJ.
- Columbia Financial: NJ-based savings bank holding company operating Columbia Bank, with a similar mix of consumer deposits, residential mortgage lending, and business banking focused on the New Jersey market.
- Northfield Bancorp: Staten Island, NY-headquartered community bank with significant New Jersey branch presence, offering a comparable mix of deposits, multi-family lending, and consumer/commercial banking.
- Peapack-Gladstone Financial: NJ-based community bank providing consumer and commercial banking, mortgage, and wealth management services, with a similar high-touch, local decision-making model and competitive deposit products.
- OceanFirst Financial: NJ-headquartered community bank holding company with a comparable consumer and commercial banking franchise, residential mortgage origination, and small business banking focus in the Mid-Atlantic.
- Lakeland Bancorp: NJ-based community bank holding company operating Lakeland Bank, providing comparable consumer and business banking, mortgage, and commercial lending products across northern New Jersey.
Broad incumbents
- Provident Financial Services: Larger NJ-based bank holding company operating Provident Bank, with a broadly similar deposit and lending franchise but materially greater scale, broader geographic reach, and more diversified revenue streams than Somerset.
- Valley National Bancorp: Significantly larger NJ-headquartered regional bank with a much broader branch network, commercial and commercial real estate lending, and wealth management services that overlap with Somerset's core offerings.
Regional players
- First Bank (NJ): NJ-based community bank with a comparable deposit and small business lending focus, serving a similar small/mid-sized market profile and overlapping customer segments in northern New Jersey.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Somerset Savings Bank social profiles
Digital presenceSomerset Savings Bank compliance and trust
Trust signalCompliance1 record
Somerset Savings Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Somerset Savings Bank leadership team
Management profileNumber of profiles
Profiles3 records
Somerset Savings Bank subsidiaries and ownership
Company hierarchySubsidiaries1 record
Somerset Savings Bank funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Somerset Savings Bank M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Somerset Savings Bank
What does Somerset Savings Bank do?
Somerset Savings Bank operates as a New Jersey community bank offering personal and small business banking products, including checking, savings and money market accounts, residential mortgages, equity loans, and commercial/business lending. Services are delivered through 14 branches across 6 New Jersey counties, complemented by digital channels (consumer and business online banking plus the Somerset Regal Mobile Banking app). The bank, doing business as Somerset Regal Bank, is a subsidiary of SR Bancorp, Inc. (NASDAQ: SRBK).
Is Somerset Savings Bank a public or private company?
Somerset Savings Bank is a public company. It is classified as public and is currently operating.
When was Somerset Savings Bank founded?
Somerset Savings Bank was founded in 2025. It employs 101 to 250 people.
Where is Somerset Savings Bank based?
Somerset Savings Bank is headquartered in Bound Brook, United States, in the North America region.
How does Somerset Savings Bank make money?
Three revenue lines are on record. Net Interest Income is the primary driver. The others are non-Interest Income and dividend Distributions.
Who are Somerset Savings Bank's main competitors?
Direct peers on record are Kearny Financial Corp, BCB Bancorp, Columbia Financial, Northfield Bancorp, Peapack-Gladstone Financial, OceanFirst Financial and Lakeland Bancorp. Broad incumbents are Provident Financial Services and Valley National Bancorp. First Bank (NJ) is listed as a regional player.
Does Somerset Savings Bank have an API?
No public API is recorded for Somerset Savings Bank.
What industry is Somerset Savings Bank in?
Somerset Savings Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAKAK, Savings Banks (Public/State-Owned). Its NAICS code is 52211 and its SIC code is 6022.