Monitor for further 13D amendments or public statements from Seidman regarding board representation or strategic initiatives. The 10-K shows a small, profitable thrift with $368M in assets and $20M in equity — a typical activist target for operational improvement or sale. Any escalation toward board seats or a strategic review would be a catalyst.
Price Chart
Executive Summary
Lawrence B. Seidman and affiliated entities filed a Schedule 13D disclosing a 5.40% beneficial ownership stake in URSB Bancorp, Inc., acquired for approximately $1.37 million. The filing indicates Seidman has engaged with senior management, including discussions about adding Ray Vanaria to the board, and believes the issuer is working to maximize shareholder value. The activist group has no present plans for board seats, strategic review, or sale, but reserves the right to change strategy.
Key Financial Metrics
Key Facts
- Lawrence B. Seidman and related entities collectively own 126,045 shares, or 5.40% of URSB Bancorp's outstanding common stock.
- The stake was acquired at an average cost of approximately $10.90 per share (total cost ~$1.37 million).
- Seidman had an in-person meeting and several phone conversations with senior management, including regarding the addition of Ray Vanaria to the board.
- The filing states Seidman feels confident the issuer is working to maximize shareholder value.
- The group purchased shares on 9/18/2026 at prices between $12.70 and $12.73 per share.
- No present plans for board seats, strategic review, sale, or other major changes are disclosed, but the group may change its intentions.
Financial Impact
Activist stake of 5.40% valued at approximately $1.37 million; recent purchases at ~$12.71 per share.
Risk Factors
- Seidman's group has no stated activist demands; the filing is relatively passive and could remain so.
- URSB is a micro-cap with limited liquidity, which may constrain the group's ability to build a larger position or exit.
- The company's net income declined from $576K in 2024 to $503K in 2025, and the provision for credit losses increased sharply to $801K, signaling potential credit quality headwinds.
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D Filing (Primary) | 0000921895-26-002628 |
| Exhibit: ex2sc13d08245001_09222026.htm | 0000921895-26-002628 |
| Exhibit: ex1sc13d08245001_09222026.htm | 0000921895-26-002628 |
| Document: 0000921895-26-002628-index-headers.html | 0000921895-26-002628 |
| Document: 0000921895-26-002628-index.html | 0000921895-26-002628 |
| Document: 0000921895-26-002628.txt | 0000921895-26-002628 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | SC 13D/A | $13.04 | awaiting T+20 | — | $13.04 (−0.00%) |
Sep 23, 2026 4w ago | SC 13D | $12.95 $13.00 | ▲ +0.39% | ▼ −0.30% | $13.04 (+0.69%) |
Jun 26, 2026 17w ago | 8-K | $12.10 $12.10 | · 0.00% | ▲ +0.26% | $13.04 (+7.77%) |
US Market Status
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