GlobeNewswire·Apr 23, 2026, 8:30 AM ET

Kearny Financial Corp. Announces Third Quarter Fiscal 2026 Results and Declaration of Cash Dividend

KRNY

Kearny Financial Corp. reported net income of $10.1 million ($0.16 per diluted share) for the quarter ended March 31, 2026, compared to $9.4 million ($0.15 per diluted share) for the quarter ended December 31, 2025.
The Board of Directors declared a quarterly cash dividend of $0.11 per share, payable on May 20, 2026, to stockholders of record as of May 6, 2026.
Net interest margin expanded seven basis points to 2.21%, marking the sixth consecutive quarter of margin expansion.
Pre-tax, pre-provision net revenue increased 5.5% to $13.0 million for the quarter.
Total assets were $7.61 billion at March 31, 2026, a decrease of 0.2% from the prior quarter.
Loans receivable totaled $5.78 billion, an increase of 0.4%, driven by growth in commercial business, construction, & home equity loans while multifamily mortgage exposure was reduced.
Deposits increased 0.3% to $5.73 billion, supported by the addition of four new relationship officers to the Corporate Banking team & a new Specialty Deposits team.
Borrowings decreased 3.2% to $1.06 billion, reflecting a reduction in overnight borrowings partially offset by an increase in Federal Home Loan Bank advances.
Non-interest income rose 9.4% to $6.1 million, primarily due to a non-recurring $1.0 million gain on the sale of properties held for sale.
Non-interest expense increased 3.6% to $32.3 million, driven by higher salary & benefits expenses, seasonally higher snow removal costs, & increased advertising.
The allowance for credit losses decreased to $44.7 million, or 0.77% of total loans, from $45.0 million at December 31, 2025.
Tangible book value per share improved $0.09 to $10.02, representing a 0.9% increase.
The company maintains a tangible equity to tangible assets ratio of 8.65% & regulatory capital ratios in excess of all applicable requirements.