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Kearny Financial Corp. Announces First Quarter Fiscal 2027 Results and Declaration of Cash Dividend

KRNY
  • Kearny Financial Corp. reported net income of $10.0 million ($0.16 per diluted share) for the quarter ended September 30, 2026, representing a 40.0% increase from the prior quarter.
  • Pre-tax, pre-provision net revenue increased 14.0% to $13.5 million, reflecting strengthening core earnings.
  • The Board declared a quarterly cash dividend of $0.11 per share, payable on November 18, 2026, to stockholders of record as of November 4, 2026.
  • Total loans receivable grew 1.8% to $5.98 billion, with total deposits increasing 2.2% to $5.83 billion, driven by growth in interest-bearing demand deposits.
  • Net interest margin decreased three basis points to 2.23%, impacted by the repricing of the final COVID-era wholesale funding position and lower prepayment-related income.
  • Non-interest expense decreased 6.1% to $31.8 million, primarily due to the absence of a non-recurring severance charge in the prior period.
  • Non-performing assets increased $3.2 million to $56.6 million, while net charge-offs totaled $277,000 for the quarter.
  • The company launched a dedicated Nonprofit and Independent Education Banking team to expand relationship-based deposit growth.
  • Book value per share decreased $0.20 to $11.64, primarily reflecting changes in the fair value of available-for-sale securities.
  • The company maintained a tangible equity to tangible assets ratio of 8.37% with regulatory capital ratios exceeding all applicable requirements.