Kearny Financial Corp. Announces Fourth Quarter and Fiscal Year End 2025 Results and Declaration of $0.11 per Share Cash Dividend
FAIRFIELD, N.J., July 24, 2025 (GLOBE NEWSWIRE) -- Kearny Financial Corp. (NASDAQ GS: KRNY) (the "Company"), the holding company of Kearny Bank (the "Bank"), reported net income for the quarter ended June 30, 2025 of $6.8 million, or $0.11 per diluted share, compared to $6.6 million, or $0.11 per diluted share, for the quarter ended March 31, 2025.
For the fiscal year ended June 30, 2025, the Company reported net income of $26.1 million, or $0.42 per diluted share, compared to a net loss of $86.7 million, or $1.39 per diluted share, for the fiscal year ended June 30, 2024. Excluding the impact of a non-cash, after-tax, goodwill impairment of $95.3 million and other non-recurring transactions, adjusted net income for the fiscal year ended June 30, 2024 was $28.2 million, or $0.45 per diluted share.
The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.11 per share, payable on August 26, 2025, to stockholders of record as of August 12, 2025.
Craig L. Montanaro, President and Chief Executive Officer, commented, "We are pleased to report 23% growth in pre-tax, pre-provision earnings per share this quarter, driven by ten basis points of net interest margin expansion. In addition, credit quality remains exceptional, with negligible net charge-offs for both the quarter and the fiscal year."
Mr. Montanaro continued, "These results reflect the successful execution of our strategy and the tailwinds provided by the natural repricing of our loan and time deposit portfolios. Looking ahead, we remain confident in our ability to deliver sustained earnings growth and continued margin expansion, creating long-term value for our shareholders."
Fourth Quarter Highlights
Net interest margin increased 10 basis points to 2.00%, while net interest income increased 5.3% to $35.8 million.
Pre-tax, pre-provision earnings per share increased 23% to $0.16 per diluted share.
Net charge-offs were less than 0.01% of average loans, reflecting strong underwriting and exceptional credit quality.
Non-interest expense to average assets was 1.58%, reflecting disciplined expense management.
The Company received regulatory approval to consolidate three branch locations, scheduled to close in October 2025. These closures are expected to have minimal impact on the Company's financial results.
Balance Sheet
Total assets were $7.74 billion at June 30, 2025, an increase of $7.3 million, or 0.1%, from March 31, 2025 and an increase of $57.0 million, or 0.7%, from June 30, 2024.
Investment securities totaled $1.13 billion at June 30, 2025, an increase of $4.9 million, or 0.4%, from March 31, 2025 and a decrease of $75.4 million, or 6.2%, from June 30, 2024.
Loans receivable totaled $5.81 billion at June 30, 2025, a decrease of $33.2 million, or 0.6%, from March 31, 2025 and an increase of $80.2 million, or 1.4%, from June 30, 2024.
Deposits were $5.68 billion at June 30, 2025, a decrease of $32.1 million, or 0.6%, from March 31, 2025 and an increase of $517.1 million, or 10.0%, from June 30, 2024. The decrease from March 31, 2025 was primarily driven by a decline in interest bearing demand deposits, partially offset by an increase in certificates of deposits ("CDs"). The increase from June 30, 2024 was primarily driven by a reallocation from Federal Home Loan Bank ("FHLB") advances into brokered CDs, reflecting more favorable funding costs, and growth in deposits from our branch network and digital channels.
Borrowings were $1.26 billion at June 30, 2025, an increase of $42.5 million, or 3.5%, from March 31, 2025 and a decrease of $453.3 million, or 26.5%, from June 30, 2024.
At June 30, 2025, the Company maintained available secured borrowing capacity with the FHLB and the Federal Reserve Discount Window of $2.22 billion, representing 28.7% of total assets.
Earnings
Net Interest Income and Net Interest Margin
Net interest margin increased by 10 basis points to 2.00% for the quarter ended June 30, 2025 and declined six basis points to 1.88% for the year ended June 30, 2025. The quarterly improvement was driven by higher yields and average balances on loans receivable, a reduction in interest-bearing deposits, and broad-based declines in deposit rates. The year-over-year decline reflected higher costs on interest-bearing liabilities and a lower average balance of interest-earning assets, partially offset by improved asset yields and a reduction in the average balance of interest-bearing liabilities.
For the quarter ended June 30, 2025, net interest income increased $1.8 million, or 5.3%, to $35.8 million from $34.0 million for the quarter ended March 31, 2025. Included in net interest income for the quarters ended June 30, 2025 and March 31, 2025, was purchase accounting accretion of $511,000 in each period and loan prepayment penalty income of $217,000 and $226,000, respectively.
For the year ended June 30, 2025, net interest income decreased $7.7 million, or 5.4%, to $134.9 million from $142.6 million for the year ended June 30, 2024. Included in net interest income for the years ended June 30, 2025 and 2024, respectively, was purchase accounting accretion of $2.4 million and $2.6 million and loan prepayment penalty income of $783,000 and $879,000.
Non-Interest Income
For the quarter ended June 30, 2025, non-interest income increased $429,000, or 9.4%, to $5.0 million from $4.6 million for the quarter ended March 31, 2025, primarily driven by increases in income from bank owned life insurance ("BOLI"), gain on sale of loans and electronic banking fees and charges.
Income from BOLI increased $252,000 to $2.9 million for the quarter ended June 30, 2025 from $2.6 million for the quarter ended March 31, 2025, primarily driven by $223,000 in non-recurring payments on two life insurance policies in the current period. No such non-recurring items were recorded in the prior period.
Gain on sale of loans increased $78,000 to $190,000 for the quarter ended June 30, 2025 from $112,000 for the quarter ended March 31, 2025.
For the year ended June 30, 2025, non-interest income increased $21.0 million to $19.1 million from a loss of $2.0 million for the year ended June 30, 2024. The increase was primarily attributable to the absence of an $18.1 million pre-tax loss related to the investment securities portfolio repositioning executed during December 2023 and the absence of a non-recurring pre-tax loss of $884,000 attributable to the sale of three related nonperforming commercial real estate loans held-for-sale in the year ended June 30, 2024. No such losses were recorded during the year ended June 30, 2025.
Non-Interest Expense
For the quarter ended June 30, 2025, non-interest expense increased $503,000, or 1.7%, to $30.9 million from $30.4 million for the quarter ended March 31, 2025, primarily driven by increases in salary and benefits and other expenses, partially offset by a decrease in net occupancy expense.
Salary and benefits expense increased $393,000 to $18.1 million for the quarter ended June 30, 2025 from $17.7 million for the quarter ended March 31, 2025, primarily driven by the absence of a $427,000 non-recurring decrease in stock-based compensation recorded in the prior period.
Net occupancy expense of premises decreased $255,000 to $2.8 million for the quarter ended June 30, 2025 from $3.1 million for the quarter ended March 31, 2025, primarily driven by lower snow removal expenses recorded in the current period.
Other expense increased $324,000 to $3.6 million for the quarter ended June 30, 2025 from $3.3 million for the quarter ended March 31, 2025, primarily due to a non-recurring increase in professional fees incurred during the period. The remaining changes in the other components of non-interest expense between comparative periods generally reflected normal operating fluctuations within those line items.
For the year ended June 30, 2025, non-interest expense decreased $94.5 million, or 43.9%, to $120.6 million from $215.2 million for the year ended June 30, 2024, primarily reflecting the absence of a non-cash goodwill impairment recognized in the prior year period. Excluding the goodwill impairment, adjusted non-interest expense for the year ended June 30, 2025 increased $2.8 million, or 2.4%, from $117.8 million in the prior year period. The increase was primarily attributable to an increase in salary and benefits expense attributable to annual merit increases and higher incentive compensation.
Income Taxes
Income tax expense totaled $1.4 million for the quarter ended June 30, 2025 compared to $1.2 million for the quarter ended March 31, 2025, resulting in an effective tax rate of 17.0% and 15.3%, respectively.
Income tax expense totaled $4.9 million for the year ended June 30, 2025 compared to $5.9 million for the year ended June 30, 2024. The decrease in income tax expense was primarily driven by the absence of a $5.7 million tax expense related to the surrender of BOLI policies in the prior year period, partially offset by higher pre-tax income in the current year period.
Asset Quality
The balance of non-performing assets increased $7.9 million to $45.6 million, or 0.59% of total assets, at June 30, 2025, from $37.7 million, or 0.49% of total assets, at March 31, 2025. The balance of non-performing assets was $39.9 million, or 0.52% of total assets, at June 30, 2024. The increase from March 31, 2025 was primarily driven by two multifamily relationships totaling $6.1 million that were placed on non-accrual status.
Net charge-offs totaled $49,000, or less than 0.01% of average loans, on an annualized basis, for the quarter ended June 30, 2025, compared to $368,000, or 0.03% of average loans, on an annualized basis, for the quarter ended March 31, 2025. For the year ended June 30, 2025, net charge-offs totaled $1.1 million, or 0.02% of average loans, compared to $10.0 million, or 0.17% of average loans, for the year ended June 30, 2024.
For the quarter ended June 30, 2025, the Company recorded a provision for credit losses of $1.8 million, compared to $366,000 for the quarter ended March 31, 2025. The provision for credit losses for the quarter ended June 30, 2025 was driven by an $805,000 reserve related to a non-performing wholesale commercial and industrial ("C&I") loan, representing the final wholesale C&I loan in the portfolio. Additionally, the current quarter's provision included a $1.1 million increase in reserves on individually evaluated loans. For the years ended June 30, 2025 and June 30, 2024, the Company recorded a provision for credit losses of $2.4 million and $6.2 million, respectively.
The allowance for credit losses ("ACL") was $46.2 million, or 0.79% of total loans, at June 30, 2025, an increase of $1.7 million from $44.5 million, or 0.76% of total loans, at March 31, 2025. The ACL was $44.9 million, or 0.78% of total loans, at June 30, 2024.
Capital
For the quarter ended June 30, 2025, book value per share and tangible book value per share decreased $0.03, or 0.3%, to $11.55 and $9.77, respectively, compared to the prior period.
At June 30, 2025, total stockholders' equity included after-tax net unrealized losses on securities available for sale of $79.6 million, partially offset by after-tax unrealized gains on derivatives of $6.9 million. After-tax net unrecognized losses on securities held to maturity of $9.6 million were not reflected in total stockholders' equity.
At June 30, 2025, the Company's tangible equity to tangible assets ratio equaled 8.27% and the regulatory capital ratios of both the Company and the Bank were in excess of the levels required by federal banking regulators to be classified as "well-capitalized" under regulatory guidelines.
This earnings release should be read in conjunction with Kearny Financial Corp.'s Q4 2025 Investor Presentation, a copy of which is available through the Investor Relations link located at the bottom of the page of our website at www.kearnybank.com and via a Current Report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov.
Non-GAAP Measures
This earnings release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles ("GAAP"). Where non-GAAP disclosures are used in this press release, the comparable GAAP measure, as well as a reconciliation to the comparable GAAP measure, is provided in the accompanying tables. Management believes that these non-GAAP measures provide useful information that is important to an understanding of the results of the Company's core business as well as provide information standard in the financial institution industry. Non-GAAP measures should not be considered a substitute for financial measures determined in accordance with GAAP and investors should consider the Company's performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company.
Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. The Company does not undertake and specifically disclaims any obligation to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
Category: Earnings
Linked-Quarter Comparative Financial Analysis
Kearny Financial Corp.Consolidated Balance Sheets(Unaudited)
(Dollars and Shares in Thousands,Except Per Share Data)
June 30,2025
March 31,2025
Varianceor Change
Varianceor Change Pct.
Assets
Cash and cash equivalents
$
167,269
$
126,095
$
41,174
32.7
%
Securities available for sale
1,012,969
1,003,393
9,576
1.0
%
Securities held to maturity
120,217
124,859
(4,642
)
-3.7
%
Loans held-for-sale
5,931
6,187
(256
)
-4.1
%
Loans receivable
5,812,937
5,846,175
(33,238
)
-0.6
%
Less: allowance for credit losses on loans
(46,191
)
(44,455
)
1,736
3.9
%
Net loans receivable
5,766,746
5,801,720
(34,974
)
-0.6
%
Premises and equipment
43,897
44,192
(295
)
-0.7
%
Federal Home Loan Bank stock
64,261
62,261
2,000
3.2
%
Accrued interest receivable
28,098
28,521
(423
)
-1.5
%
Goodwill
113,525
113,525
—
—
%
Core deposit intangible
1,436
1,554
(118
)
-7.6
%
Bank owned life insurance
304,717
303,629
1,088
0.4
%
Deferred income taxes, net
55,203
52,913
2,290
4.3
%
Other assets
56,181
64,292
(8,111
)
-12.6
%
Total assets
$
7,740,450
$
7,733,141
$
7,309
0.1
%
Liabilities
Deposits:
Non-interest-bearing
$
582,045
$
587,118
$
(5,073
)
-0.9
%
Interest-bearing
5,093,172
5,120,230
(27,058
)
-0.5
%
Total deposits
5,675,217
5,707,348
(32,131
)
-0.6
%
Borrowings
1,256,491
1,213,976
42,515
3.5
%
Advance payments by borrowers for taxes
19,317
19,981
(664
)
-3.3
%
Other liabilities
43,463
43,723
(260
)
-0.6
%
Total liabilities
6,994,488
6,985,028
9,460
0.1
%
Stockholders' Equity
Common stock
646
646
—
—
%
Paid-in capital
494,546
494,131
415
0.1
%
Retained earnings
341,744
341,921
(177
)
-0.1
%
Unearned ESOP shares
(18,970
)
(19,457
)
487
2.5
%
Accumulated other comprehensive loss
(72,004
)
(69,128
)
(2,876
)
-4.2
%
Total stockholders' equity
745,962
748,113
(2,151
)
-0.3
%
Total liabilities and stockholders' equity
$
7,740,450
$
7,733,141
$
7,309
0.1
%
Consolidated capital ratios
Equity to assets
9.64
%
9.67
%
-0.03
%
Tangible equity to tangible assets(1)
8.27
%
8.31
%
-0.04
%
Share data
Outstanding shares
64,577
64,580
(3
)
-0.0
%
Book value per share
$
11.55
$
11.58
$
(0.03
)
-0.3
%
Tangible book value per share(2)
$
9.77
$
9.80
$
(0.03
)
-0.3
%
_________________________
(1)
Tangible equity equals total stockholders' equity reduced by goodwill and core deposit intangible assets. Tangible assets equals total assets reduced by goodwill and core deposit intangible assets.
(2)
Tangible book value equals total stockholders' equity reduced by goodwill and core deposit intangible assets.
Kearny Financial Corp.Consolidated Statements of Income(Unaudited)
(Dollars and Shares in Thousands,Except Per Share Data)
Three Months Ended
Varianceor Change
Varianceor Change Pct.
June 30,2025
March 31,2025
Interest income
Loans
$
66,485
$
64,768
$
1,717
2.7
%
Taxable investment securities
12,322
12,738
(416
)
-3.3
%
Tax-exempt investment securities
49
55
(6
)
-10.9
%
Other interest-earning assets
1,549
1,773
(224
)
-12.6
%
Total interest income
80,405
79,334
1,071
1.3
%
Interest expense
Deposits
33,607
34,912
(1,305
)
-3.7
%
Borrowings
10,955
10,380
575
5.5
%
Total interest expense
44,562
45,292
(730
)
-1.6
%
Net interest income
35,843
34,042
1,801
5.3
%
Provision for credit losses
1,785
366
1,419
387.7
%
Net interest income after provision for credit losses
34,058
33,676
382
1.1
%
Non-interest income
Fees and service charges
655
573
82
14.3
%
Gain on sale of loans
190
112
78
69.6
%
Income from bank owned life insurance
2,869
2,617
252
9.6
%
Electronic banking fees and charges
442
391
51
13.0
%
Other income
835
869
(34
)
-3.9
%
Total non-interest income
4,991
4,562
429
9.4
%
Non-interest expense
Salaries and employee benefits
18,093
17,700
393
2.2
%
Net occupancy expense of premises
2,820
3,075
(255
)
-8.3
%
Equipment and systems
4,030
3,921
109
2.8
%
Advertising and marketing
615
609
6
1.0
%
Federal deposit insurance premium
1,395
1,450
(55
)
-3.8
%
Directors' compensation
307
326
(19
)
-5.8
%
Other expense
3,633
3,309
324
9.8
%
Total non-interest expense
30,893
30,390
503
1.7
%
Income before income taxes
8,156
7,848
308
3.9
%
Income taxes
1,387
1,200
187
15.6
%
Net income
$
6,769
$
6,648
$
121
1.8
%
Net income per common share (EPS)
Basic
$
0.11
$
0.11
$
—
Diluted
$
0.11
$
0.11
$
—
Dividends declared
Cash dividends declared per common share
$
0.11
$
0.11
$
—
Cash dividends declared
$
6,946
$
6,933
$
13
Dividend payout ratio
102.6
%
104.3
%
-1.7
%
Weighted average number of common shares outstanding
Basic
62,597
62,548
49
Diluted
62,755
62,713
42
Kearny Financial Corp.Average Balance Sheet Data(Unaudited)
(Dollars in Thousands)
Three Months Ended
Varianceor Change
Varianceor Change Pct.
June 30,2025
March 31,2025
Assets
Interest-earning assets:
Loans receivable, including loans held for sale
$
5,830,421
$
5,805,045
$
25,376
0.4
%
Taxable investment securities
1,227,825
1,251,612
(23,787
)
-1.9
%
Tax-exempt investment securities
8,039
9,135
(1,096
)
-12.0
%
Other interest-earning assets
117,622
110,736
6,886
6.2
%
Total interest-earning assets
7,183,907
7,176,528
7,379
0.1
%
Non-interest-earning assets
454,975
457,206
(2,231
)
-0.5
%
Total assets
$
7,638,882
$
7,633,734
$
5,148
0.1
%
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Deposits:
Interest-bearing demand
$
2,342,523
$
2,405,974
$
(63,451
)
-2.6
%
Savings
754,192
751,243
2,949
0.4
%
Certificates of deposit (retail)
1,215,661
1,215,767
(106
)
-0.0
%
Certificates of deposit (brokered)
744,345
730,612
13,733
1.9
%
Total interest-bearing deposits
5,056,721
5,103,596
(46,875
)
-0.9
%
Borrowings:
Federal Home Loan Bank advances
1,083,902
1,028,958
54,944
5.3
%
Other borrowings
107,582
93,389
14,193
15.2
%
Total borrowings
1,191,484
1,122,347
69,137
6.2
%
Total interest-bearing liabilities
6,248,205
6,225,943
22,262
0.4
%
Non-interest-bearing liabilities:
Non-interest-bearing deposits
582,085
602,647
(20,562
)
-3.4
%
Other non-interest-bearing liabilities
64,405
59,919
4,486
7.5
%
Total non-interest-bearing liabilities
646,490
662,566
(16,076
)
-2.4
%
Total liabilities
6,894,695
6,888,509
6,186
0.1
%
Stockholders' equity
744,187
745,225
(1,038
)
-0.1
%
Total liabilities and stockholders' equity
$
7,638,882
$
7,633,734
$
5,148
0.1
%
Average interest-earning assets to average interest-bearing liabilities
114.98
%
115.27
%
-0.29
%
-0.3
%
Kearny Financial Corp.Performance Ratio Highlights(Unaudited)
Three Months Ended
Varianceor Change
June 30,2025
March 31,2025
Average yield on interest-earning assets:
Loans receivable, including loans held for sale
4.56
%
4.46
%
0.10
%
Taxable investment securities
4.01
%
4.07
%
-0.06
%
Tax-exempt investment securities(1)
2.43
%
2.43
%
—
%
Other interest-earning assets
5.27
%
6.40
%
-1.13
%
Total interest-earning assets
4.48
%
4.42
%
0.06
%
Average cost of interest-bearing liabilities:
Deposits:
Interest-bearing demand
2.63
%
2.73
%
-0.10
%
Savings
1.33
%
1.30
%
0.03
%
Certificates of deposit (retail)
3.56
%
3.73
%
-0.17
%
Certificates of deposit (brokered)
2.62
%
2.58
%
0.04
%
Total interest-bearing deposits
2.66
%
2.74
%
-0.08
%
Borrowings:
Federal Home Loan Bank advances
3.60
%
3.63
%
-0.03
%
Other borrowings
4.45
%
4.41
%
0.04
%
Total borrowings
3.68
%
3.70
%
-0.02
%
Total interest-bearing liabilities
2.85
%
2.91
%
-0.06
%
Interest rate spread(2)
1.62
%
1.51
%
0.11
%
Net interest margin(3)
2.00
%
1.90
%
0.10
%
Non-interest income to average assets (annualized)
0.26
%
0.24
%
0.02
%
Non-interest expense to average assets (annualized)
1.62
%
1.59
%
0.03
%
Efficiency ratio(4)
75.66
%
78.72
%
-3.06
%
Return on average assets (annualized)
0.35
%
0.35
%
—
%
Return on average equity (annualized)
3.64
%
3.57
%
0.07
%
Return on average tangible equity (annualized)(5)
4.36
%
4.28
%
0.08
%
_________________________
(1)
The yield on tax-exempt investment securities has not been adjusted to reflect their tax-effective yield.
(2)
Interest income divided by average interest-earning assets less interest expense divided by average interest-bearing liabilities.
(3)
Net interest income divided by average interest-earning assets.
(4)
Non-interest expense divided by the sum of net interest income and non-interest income.
(5)
Average tangible equity equals total average stockholders' equity reduced by average goodwill and average core deposit intangible assets.
Year-to-Year Comparative Financial Analysis
Kearny Financial Corp.Consolidated Balance Sheets
(Dollars and Shares in Thousands,Except Per Share Data)
June 30,2025
June 30,2024
Varianceor Change
Varianceor Change Pct.
(Unaudited)
(Audited)
Assets
Cash and cash equivalents
$
167,269
$
63,864
$
103,405
161.9
%
Securities available for sale
1,012,969
1,072,833
(59,864
)
-5.6
%
Securities held to maturity
120,217
135,742
(15,525
)
-11.4
%
Loans held-for-sale
5,931
6,036
(105
)
-1.7
%
Loans receivable
5,812,937
5,732,787
80,150
1.4
%
Less: allowance for credit losses on loans
(46,191
)
(44,939
)
1,252
2.8
%
Net loans receivable
5,766,746
5,687,848
78,898
1.4
%
Premises and equipment
43,897
44,940
(1,043
)
-2.3
%
Federal Home Loan Bank of New York stock
64,261
80,300
(16,039
)
-20.0
%
Accrued interest receivable
28,098
29,521
(1,423
)
-4.8
%
Goodwill
113,525
113,525
—
—
%
Core deposit intangible
1,436
1,931
(495
)
-25.6
%
Bank owned life insurance
304,717
297,874
6,843
2.3
%
Deferred income tax assets, net
55,203
50,339
4,864
9.7
%
Other assets
56,181
98,708
(42,527
)
-43.1
%
Total assets
$
7,740,450
$
7,683,461
$
56,989
0.7
%
Liabilities
Deposits:
Non-interest-bearing
$
582,045
$
598,366
$
(16,321
)
-2.7
%
Interest-bearing
5,093,172
4,559,757
533,415
11.7
%
Total deposits
5,675,217
5,158,123
517,094
10.0
%
Borrowings
1,256,491
1,709,789
(453,298
)
-26.5
%
Advance payments by borrowers for taxes
19,317
17,409
1,908
11.0
%
Other liabilities
43,463
44,569
(1,106
)
-2.5
%
Total liabilities
6,994,488
6,929,890
64,598
0.9
%
Stockholders' Equity
Common stock
$
646
$
644
$
2
0.3
%
Paid-in capital
494,546
493,680
866
0.2
%
Retained earnings
341,744
343,326
(1,582
)
-0.5
%
Unearned ESOP shares
(18,970
)
(20,916
)
1,946
9.3
%
Accumulated other comprehensive loss
(72,004
)
(63,163
)
(8,841
)
-14.0
%
Total stockholders' equity
745,962
753,571
(7,609
)
-1.0
%
Total liabilities and stockholders' equity
$
7,740,450
$
7,683,461
$
56,989
0.7
%
Consolidated capital ratios
Equity to assets
9.64
%
9.81
%
-0.17
%
Tangible equity to tangible assets(1)
8.27
%
8.43
%
-0.16
%
Share data
Outstanding shares
64,577
64,434
143
0.2
%
Book value per share
$
11.55
$
11.70
$
(0.15
)
-1.3
%
Tangible book value per share(2)
$
9.77
$
9.90
$
(0.13
)
-1.3
%
_________________________
(1)
Tangible equity equals total stockholders' equity reduced by goodwill and core deposit intangible assets. Tangible assets equals total assets reduced by goodwill and core deposit intangible assets.
(2)
Tangible book value equals total stockholders' equity reduced by goodwill and core deposit intangible assets.
Kearny Financial Corp.Consolidated Statements of Income
Year Ended
(Dollars and Shares in Thousands,Except Per Share Data)
June 30,2025
June 30,2024
Varianceor Change
Varianceor Change Pct.
