Kearny Financial Corp
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
KRNY$9.28+0.2%Stored close · as of Nov 10, 2026
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Item 1. Financial Statements
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(In Thousands, Except Share and Per Share Data)
| March 31,2024 | June 30,2023 | |
|---|---|---|
| (Unaudited) | ||
| Assets | ||
| Cash and amounts due from depository institutions | $16,162 | $21,795 |
| Interest-bearing deposits in other banks | 54,865 | 48,720 |
| Cash and cash equivalents | 71,027 | 70,515 |
| Investment securities available for sale (amortized cost of $1,232,173 and $1,383,867, respectively) | 1,098,655 | 1,227,729 |
| Investment securities held to maturity (fair value of $123,576 and $131,169, respectively) | 139,643 | 146,465 |
| Loans held-for-sale | 4,117 | 9,591 |
| Loans receivable | 5,758,336 | 5,829,421 |
| Less: allowance for credit losses on loans | (44,930) | (48,734) |
| Net loans receivable | 5,713,406 | 5,780,687 |
| Premises and equipment | 45,053 | 48,309 |
| Federal Home Loan Bank (“FHLB”) of New York stock | 81,347 | 71,734 |
| Accrued interest receivable | 31,065 | 28,133 |
| Goodwill | 210,895 | 210,895 |
| Core deposit intangibles | 2,057 | 2,457 |
| Bank owned life insurance | 296,493 | 292,825 |
| Deferred income tax assets, net | 47,225 | 51,973 |
| Other real estate owned | — | 12,956 |
| Other assets | 100,989 | 110,546 |
| Total Assets | $7,841,972 | $8,064,815 |
| Liabilities and Stockholders' Equity | ||
| Liabilities | ||
| Deposits: | ||
| Non-interest-bearing | $586,089 | $609,999 |
| Interest-bearing | 4,622,961 | 5,019,184 |
| Total deposits | 5,209,050 | 5,629,183 |
| Borrowings | 1,722,178 | 1,506,812 |
| Advance payments by borrowers for taxes | 17,387 | 18,338 |
| Other liabilities | 44,279 | 41,198 |
| Total Liabilities | 6,992,894 | 7,195,531 |
| Stockholders' Equity | ||
| Preferred stock, $0.01 par value, 100,000,000 shares authorized; none issued and outstanding | — | — |
| Common stock, $0.01 par value; 800,000,000 shares authorized; 64,436,995 shares and 65,864,075 shares issued and outstanding, respectively | 644 | 659 |
| Paid-in capital | 493,187 | 503,332 |
| Retained earnings | 440,308 | 457,611 |
| Unearned employee stock ownership plan shares; 2,207,675 shares and 2,358,198 shares, respectively | (21,402) | (22,862) |
| Accumulated other comprehensive loss | (63,659) | (69,456) |
| Total Stockholders' Equity | 849,078 | 869,284 |
| Total Liabilities and Stockholders' Equity | $7,841,972 | $8,064,815 |
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