Kearny Financial Corp. (OQ:KRNY)

Sector:  Financials Industry:  Banks
 
See Regulatory Filings on SEC
Company Contact
Address: 120 Passaic Ave
FAIRFIELD NJ 07004
Tel: 1-973-2444503
Website: https://kearny.q4ir.com
IR: See website
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Key People
Craig L. Montanaro
President, Chief Executive Officer, Director
Keith Suchodolski
Chief Financial Officer, Senior Executive Vice President
Timothy A. Swansson
Executive Vice President, Chief Technology and Innovation Officer
Erika K. Parisi
Executive Vice President, Chief Administrative Officer
Anthony V. Bilotta
Executive Vice President, Chief Banking Officer
Thomas D. DeMedici
Executive Vice President, Chief Credit Officer
John V. Dunne
Executive Vice President, Chief Risk Officer
Patrick M. Joyce
Executive Vice President, Chief Lending Officer
 
Business Overview
Kearny Financial Corp. is a holding company for Kearny Bank (the Bank). The Bank is a New Jersey-chartered savings bank. The Bank is principally engaged in the business of attracting deposits from the general public and using these deposits, together with other funds, to originate or purchase loans for its portfolio and for sale on the secondary market. Its loan portfolio is comprised of multi-family mortgage loans, non-residential mortgage loans, commercial business loans, construction loans, one-to-four-family residential mortgage loans, home equity loans and other consumer loans. The Company also maintains a portfolio of investment securities, primarily comprised of United States agency mortgage-backed securities, obligations of state and political subdivisions, corporate bonds, asset-backed securities, and collateralized loan obligations. The Bank operates approximately 45 branch offices in New Jersey.
Financial Overview
For the six months ended 31 December 2023, Kearny Financial Corp. interest income increased 20% to $163.8M. Net interest income after loan loss provision decreased 20% to $72.6M. Net loss totaled $4M vs. income of $18.5M. Net interest income after loan loss provision reflects Net Interest Margin, Total -% decrease of 20% to 2.02%, Net Interest Spread, Total -% decrease of 29% to 1.66%, Tax-exempt investment securities decrease of 66% to $171K.
Employees: 556 as of Jun 30, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $576.05M as of Dec 31, 2023
Annual revenue (TTM): $320.66M as of Dec 31, 2023
EBITDA (TTM): $92.21M as of Dec 31, 2023
Net annual income (TTM): $18.34M as of Dec 31, 2023
Free cash flow (TTM): $23.98M as of Dec 31, 2023
Net Debt Last Fiscal Year: $219.07M as of Dec 31, 2023
Shares outstanding: 64,436,995 as of Jan 31, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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