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 |
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 |