$KRNY

Kearny Financial Corp.

CIK:0001617242|SEC Filings

Consolidated Statements of Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Interest income
Loans	$ 271,445	$ 262,992	$ 256,007
Taxable investment securities	46,976	53,247	63,313
Tax-exempt investment securities	139	234	336
Other interest-earning assets	5,753	8,003	9,212
Total interest income	324,313	324,476	328,868
Interest expense
Deposits	128,661	140,258	122,414
Borrowings	40,369	49,275	63,860
Total interest expense	169,030	189,533	186,274
Net interest income	155,283	134,943	142,594
Provision for credit losses	1,698	2,366	6,226
Net interest income after provision for credit losses	153,585	132,577	136,368
Non-interest income
Fees and service charges	4,175	2,490	2,609
Loss on sale and call of securities	0	0	(18,135)
Gain (loss) on sale of loans	932	806	(282)
Loss on sale of other real estate owned	0	0	(974)
Income from bank owned life insurance	10,751	10,672	9,076
Electronic banking fees and charges	1,738	1,717	2,357
Other income	5,229	3,367	3,356
Total non-interest income	22,825	19,052	(1,993)
Non-interest expense
Salaries and employee benefits	76,747	70,870	69,220
Net occupancy expense of premises	12,320	11,524	11,033
Equipment and systems	15,807	15,703	15,223
Advertising and marketing	2,385	1,877	1,396
Federal deposit insurance premium	5,320	5,911	5,980
Directors' compensation	1,227	1,355	1,506
Goodwill impairment	0	0	97,370
Other expense	15,202	13,390	13,423
Total non-interest expense	129,008	120,630	215,151
Income (loss) before income taxes	47,402	30,999	(80,776)
Income tax benefit	11,138	4,924	5,891
Net income (loss)	$ 36,264	$ 26,075	$ (86,667)
Net income (loss) per common share (EPS)
Basic (in dollars per share)	$ 0.58	$ 0.42	$ (1.39)
Diluted (in dollars per share)	$ 0.57	$ 0.42	$ (1.39)
Weighted average number of common shares outstanding
Basic (in shares)	62,866	62,508	62,444
Diluted (in shares)	63,220	62,716	62,444

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Cash Flows from Operating Activities:
Net income (loss)	$ 36,264	$ 26,075	$ (86,667)
Adjustment to reconcile net income to net cash provided by operating activities:
Goodwill impairment	0	0	97,370
Depreciation and amortization of premises and equipment	3,983	4,386	4,730
Net accretion of yield adjustments	(625)	(1,134)	(2,516)
Deferred income taxes	2,782	(942)	(867)
Realized mark to market gain on hedge	(63)	0	0
Amortization of intangible assets	468	495	526
Net change in benefit plan accrued expense	109	609	69
Provision for credit losses	1,698	2,366	6,226
Loss on sale of other real estate owned	0	0	974
Loans originated for sale	(128,277)	(111,975)	(75,576)
Proceeds from sale of mortgage loans held-for-sale	129,118	112,886	89,603
(Gain) loss on sale of mortgage loans held-for-sale, net	(932)	(806)	282
Realized loss on sale/call of securities available for sale	0	0	18,135
Realized (gain) loss on disposition of premises and equipment	(1,753)	24	(11)
Increase in cash surrender value of bank owned life insurance	(10,751)	(10,449)	(8,826)
ESOP and stock-based compensation expense	3,778	3,176	4,003
Decrease (increase) in interest receivable	223	1,423	(1,388)
Decrease (increase) in other assets	4,527	6,517	(4,938)
(Decrease) increase in interest payable	(1,108)	(4,731)	1,336
(Decrease) increase in other liabilities	(1,706)	(3,149)	1,506
Net Cash Provided by Operating Activities	37,735	24,771	43,971
Purchases of:
Investment securities available for sale	(258,310)	(104,885)	(74,000)
Investment securities held to maturity	(180)	(240)	(300)
Proceeds from:
Repayments/calls/maturities of investment securities available for sale	322,730	183,816	132,981
Repayments/calls/maturities of investment securities held to maturity	13,461	15,640	10,886
Sale of investment securities available for sale	0	0	104,083
Purchase of loans	(173,500)	(730)	(60,341)
Net decrease (increase) in loans receivable	101,055	(66,041)	141,035
Purchase of interest rate caps	(1,274)	(2,729)	(2,065)
Proceeds from sale of other real estate owned	0	0	11,982
Additions to premises and equipment	(2,461)	(3,383)	(1,350)
Proceeds from death benefit of bank owned life insurance	935	3,606	3,478
Net surrender of bank owned life insurance	0	0	299
Proceeds from cash settlement of premises and equipment	3,932	16	0
Purchase of FHLB stock	(52,744)	(54,450)	(68,606)
Redemption of FHLB stock	57,279	70,489	60,040
Net Cash Provided by Investing Activities	10,923	41,109	258,122
Cash Flows from Financing Activities:
Net increase (decrease) in deposits	34,410	517,113	(471,027)
Repayment of term FHLB advances	(3,641,500)	(4,183,500)	(6,197,500)
Proceeds from term FHLB advances	3,485,000	3,855,000	6,450,000
Net increase (decrease) in other short-term borrowings	50,000	(125,000)	(50,000)
Net (decrease) increase in advance payments by borrowers for taxes	(755)	1,908	(929)
Repurchase and cancellation of common stock of Kearny Financial Corp.	0	0	(11,240)
Cancellation of shares repurchased on vesting to pay taxes	(424)	(362)	(484)
Dividends paid	(27,835)	(27,634)	(27,564)
Net Cash (Used in) Provided by Financing Activities	(101,104)	37,525	(308,744)
Net (Decrease) Increase in Cash and Cash Equivalents	(52,446)	103,405	(6,651)
Cash and Cash Equivalents - Beginning	167,269	63,864	70,515
Cash and Cash Equivalents - Ending	114,823	167,269	63,864
Cash paid during the year for:
Income taxes, net of refunds	8,957	4,062	6,634
Interest	170,138	194,264	184,938
Non-cash investing and financing activities:
Transfers from loans receivable to loans held-for-sale	0	0	10,754
Acquisition of other real estate owned in settlement of loans	$ 5,519	$ 0	$ 0

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Assets
Cash and amounts due from depository institutions	$ 18,024	$ 21,864
Interest-bearing deposits in other banks	96,799	145,405
Cash and cash equivalents	114,823	167,269
Investment securities available for sale (amortized cost of $1,060,864 and $1,125,111, respectively), net of allowance for credit losses of $0 at June 30, 2026 and June 30, 2025	964,369	1,012,969
Investment securities held to maturity (fair value of $95,005 and $106,712, respectively), net of allowance for credit losses of $0 at June 30, 2026 and June 30, 2025	106,814	120,217
Loans held-for-sale	6,022	5,931
Loans receivable	5,875,325	5,812,937
Less: allowance for credit losses on loans	(45,496)	(46,191)
Net loans receivable	5,829,829	5,766,746
Premises and equipment	42,359	43,897
Federal Home Loan Bank ("FHLB") of New York stock	59,726	64,261
Accrued interest receivable	27,875	28,098
Goodwill	113,525	113,525
Core deposit intangibles	968	1,436
Bank owned life insurance	314,756	304,717
Deferred income tax assets, net	48,699	55,203
Other real estate owned	5,519	0
Other assets	46,921	56,181
Total assets	7,682,205	7,740,450
Deposits:
Non-interest-bearing	788,015	582,045
Interest-bearing	4,921,610	5,093,172
Total deposits	5,709,625	5,675,217
Borrowings	1,150,000	1,256,491
Advance payments by borrowers for taxes	18,562	19,317
Other liabilities	37,348	43,463
Total liabilities	6,915,535	6,994,488
Stockholders' Equity
Preferred stock, $0.01 par value, 100,000,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.01 par value; 800,000,000 shares authorized; 64,738,125 shares and 64,577,481 shares issued and outstanding, respectively	648	646
Paid-in capital	495,953	494,546
Retained earnings	350,046	341,744
Unearned employee stock ownership plan shares;1,756,107 shares and 1,956,805 shares, respectively	(17,025)	(18,970)
Accumulated other comprehensive loss	(62,952)	(72,004)
Total stockholders' equity	766,670	745,962
Total liabilities and stockholders' equity	$ 7,682,205	$ 7,740,450