Trade Kearny Financial Corp/MD - KRNY CFD

Kearny Financial Company profile

About Kearny Financial Corp.

Kearny Financial Corp. is a holding company for Kearny Bank (the Bank). The Bank is a New Jersey savings bank. The Bank is principally engaged in the business of attracting deposits from the general public in New Jersey and New York and using these deposits, together with other funds, to originate or purchase loans for its portfolio and for sale into the secondary market. The Bank's loan portfolio is primarily consisting of multi-family loans, nonresidential real estate loans, commercial business loans, construction loans, family residential mortgage loans, home equity loans and lines of credit and consumer loans. The Bank also maintains a portfolio of investment securities, primarily consisting of United States agency mortgage-backed securities, bank-qualified municipal obligations, corporate bonds, asset-backed securities, collateralized loan obligations, and subordinated debt. The Bank operates approximately 48 branch offices in New Jersey.

Financial summary

BRIEF: For the six months ended 31 December 2021, Kearny Financial Corp. interest income decreased 6% to $113.1M. Net interest income after loan loss provision increased 22% to $106.1M. Net income increased 36% to $38.5M. Net interest income after loan loss provision reflects Net Interest Margin, Total -% increase of 12% to 2.98%, Net Interest Spread, Total -% increase of 17% to 2.89%, Taxable investment securities increase of 5% to $15.8M.

Equity composition

Common Stock $.10 Par, 09/11, 75M auth., 72,737,500 issued., less 4,762,023 shares in Treas. @ $58.1M. Insiders own 78.34%. IPO:2/24/05.05/15, 1.3804-for-1 stock split.