Kearny Financial quarterly earnings rise 40% to $10M
Net interest margin fell three basis points while nonperforming assets increased to $56.6 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Kearny Financial Corp. (KRNY) reported net income of $10.0 million, or $0.16 per diluted share, for the quarter ended September 30, 2026, compared with $7.2 million, or $0.11 per diluted share, for the quarter ended June 30, 2026. Non-GAAP pre-tax, pre-provision net revenue was $13.5 million, up 14.0%. Loans grew 7.2% on an annualized basis and deposits grew 8.7% on an annualized basis. At September 30, 2026, loans receivable were $5.98 billion and deposits were $5.83 billion. The board declared a quarterly cash dividend of $0.11 per share, payable November 18, 2026, to stockholders of record November 4, 2026.
Net interest margin was 2.23%, down three basis points from the prior quarter; Kearny cited lower prepayment-related income, less purchase accounting accretion and repricing of its final remaining COVID-era wholesale funding position. Net interest income decreased 0.7% to $40.1 million, while non-interest expense declined 6.1% to $31.8 million. Nonperforming assets rose $3.2 million to $56.6 million, or 0.73% of total assets. Tangible book value per share was $9.88, down 1.9% from June 30, 2026.
2 points · 0 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointNet income increased 40.0% to $10.0 million quarter over quarter.
- Moderate pointNon-GAAP pre-tax, pre-provision net revenue increased 14.0% to $13.5 million.
Negative
- None.
Filing Explained
The investor presentation reports
8-K Event Classification
4 items: 2.02, 7.01, 8.01, 9.01
4 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Net income: $10.0 million
Diluted earnings per share: $0.16 per share
Pre-tax, pre-provision net revenue (non-GAAP): $13.5 million
+5 more
8 metrics
Net income
$10.0 million
Quarter ended September 30, 2026; up 40.0% from the quarter ended June 30, 2026
Diluted earnings per share
$0.16 per share
Quarter ended September 30, 2026; compared with $0.11 per share in the quarter ended June 30, 2026
Pre-tax, pre-provision net revenue (non-GAAP)
$13.5 million
Quarter ended September 30, 2026; increased 14.0%
Net interest margin
2.23%
Quarter ended September 30, 2026; decreased three basis points from the prior quarter
Loans receivable
$5.98 billion
At September 30, 2026; increased 1.8% from June 30, 2026
Total deposits
$5.83 billion
At September 30, 2026; increased 2.2% from June 30, 2026
Quarterly cash dividend
$0.11 per share
Payable November 18, 2026, to stockholders of record November 4, 2026
Nonperforming assets
$56.6 million
At September 30, 2026; 0.73% of total assets
Key Terms
pre-tax, pre-provision net revenue, purchase accounting accretion, net interest margin, Allowance for credit losses, +1 more
5 terms
pre-tax, pre-provision net revenue financial
"Pre-tax, pre-provision net revenue (non-GAAP) increased 14.0%"
A bank or lender’s revenue figure calculated before subtracting income taxes and the reserves set aside for expected loan losses. It shows the raw income from core activities like interest, fees and trading without the effects of tax bills or conservative cushions for bad loans, so investors can see underlying operating performance much like checking a car’s fuel efficiency before loading extra weight or accounting for future repairs.
purchase accounting accretion financial
"purchase accounting accretion of $396,000"
Purchase accounting accretion describes how an acquisition’s required accounting adjustments change a company’s reported earnings per share after the deal. When the purchase price is reallocated to the acquired assets and liabilities, certain items (like tax effects, depreciation or amortization) are recorded differently, and those changes can make reported earnings per share rise over time — showing whether the transaction boosts or dilutes per-share results. Investors use it like checking whether two merged household budgets will increase the amount left over each month after relabeling expenses.
net interest margin financial
"Net interest margin was 2.23%"
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
Allowance for credit losses financial
"Allowance for credit losses (“ACL”) was $46.0 million"
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
Earnings Snapshot
Net income: $10.0 million
Quarter ended September 30, 2026
Net income
$10.0 million
+40.0% from the quarter ended June 30, 2026
Diluted earnings per share
$0.16 per share
Compared with $0.11 per share in the quarter ended June 30, 2026
Pre-tax, pre-provision net revenue (non-GAAP)
$13.5 million
+14.0%
Net interest margin
2.23%
Down three basis points from the prior quarter
Total deposits
$5.83 billion
+2.2% from June 30, 2026
Non-interest expense
$31.8 million
-6.1% from the quarter ended June 30, 2026
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much net income did KRNY report for the quarter ended September 30, 2026?
Kearny reported net income of $10.0 million, or $0.16 per diluted share, for the quarter ended September 30, 2026, compared with $7.2 million, or $0.11 per diluted share, in the quarter ended June 30, 2026.
What dividend did KRNY declare, and when is it payable?
KRNY declared a quarterly cash dividend of $0.11 per share, payable November 18, 2026, to stockholders of record November 4, 2026.
What affected KRNY's net interest margin?
KRNY's net interest margin was 2.23%, down three basis points from the prior quarter. Net interest income included $396,000 of purchase accounting accretion and $336,000 of loan prepayment penalty income, compared with $537,000 and $622,000, respectively, in the quarter ended June 30, 2026.
How much were KRNY's nonperforming assets?
KRNY reported $56.6 million of nonperforming assets, or 0.73% of total assets, at September 30, 2026, compared with $53.4 million, or 0.70%, at June 30, 2026. The September total included $51.2 million of nonperforming loans and $5.4 million of other real estate owned.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_____________________________
FORM 8-K
_____________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 22, 2026
_____________________________
(Exact name of Registrant as Specified in Its Charter)
_____________________________
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of Principal Executive Offices) | (Zip Code) | |||||||
Registrant’s Telephone Number, Including Area Code: (973) 244-4500
(Former Name or Former Address, if Changed Since Last Report)
_____________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operation and Financial Condition
On October 22, 2026, Kearny Financial Corp. (the “Company”), the holding company for Kearny Bank, issued a press release reporting its financial results for the period ended September 30, 2026.
A copy of the press release announcing the results is included as Exhibit 99.1 to this Current Report on Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.
Item 7.01 Regulation FD Disclosure
On October 22, 2026, the Company released a slide presentation that will be used in upcoming meetings with potential investors and current shareholders of the Company.
A copy of the slide presentation that will be used in the Company’s presentation is included as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference. The information included in this Current Report pursuant to this Item 7.01 is being furnished to, and not filed with, the Securities and Exchange Commission.
Item 8.01 Other Events
On October 22, 2026, the Company’s Board of Directors announced a quarterly cash dividend of $0.11 per share, payable on November 18, 2026 to stockholders of record as of November 4, 2026.
Item 9.01 Financial Statements and Exhibits
(a)Financial Statements of Business Acquired. Not applicable.
(b)Pro Forma Financial Information. Not applicable.
(c)Shell Company Transaction. Not applicable.
(d)Exhibits.
| Exhibit Number | Description | |||||||
| 99.1 | Press release dated October 22, 2026. | |||||||
| 99.2 | Kearny Financial Corp. investor presentation dated October 22, 2026. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
KEARNY FINANCIAL CORP. | ||||||||
Date: October 22, 2026 | By: | /s/ Sean Byrnes | ||||||
| Sean Byrnes | ||||||||
| Executive Vice President and Chief Financial Officer | ||||||||
Exhibit 99.1
FOR IMMEDIATE RELEASE
October 22, 2026
For further information contact:
Sean Byrnes, Executive Vice President and Chief Financial Officer
Kearny Financial Corp.
(973) 244-4500
KEARNY FINANCIAL CORP. ANNOUNCES FIRST QUARTER FISCAL 2027 RESULTS
AND DECLARATION OF CASH DIVIDEND
Fairfield, N.J., October 22, 2026 – Kearny Financial Corp. (NASDAQ GS: KRNY) (the “Company”), the holding company of Kearny Bank (the “Bank”), reported net income for the quarter ended September 30, 2026 of $10.0 million, or $0.16 per diluted share, compared to $7.2 million, or $0.11 per diluted share, for the quarter ended June 30, 2026.
The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.11 per share, payable on November 18, 2026, to stockholders of record as of November 4, 2026.
Craig L. Montanaro, President and Chief Executive Officer, commented, “We are pleased to report continued progress this quarter, reflecting ongoing execution of our strategic plan, solid loan and deposit growth, and disciplined expense management. While our net interest margin reflected the impact of lower prepayment-related income and the repricing of our final remaining COVID-era wholesale funding position, our underlying margin drivers remain intact. Ongoing loan repricing and balance sheet remixing are expected to support further margin expansion in the quarters ahead.”
Mr. Montanaro continued, “Our strategic transformation continues to gain momentum as we deepen commercial client relationships, expand relationship-based deposit growth, and further reposition the balance sheet toward higher-yielding commercial and construction lending opportunities. During the quarter, we expanded our deposit-gathering capabilities with the launch of a dedicated Nonprofit and Independent Education Banking team. This initiative broadens access to attractive relationship-based funding sources and further diversifies our deposit franchise.”
First Quarter Highlights
•Net income increased 40.0% to $10.0 million, or $0.16 per diluted share.
•Pre-tax, pre-provision net revenue (non-GAAP) increased 14.0% to $13.5 million, or $0.21 per diluted share, reflecting ongoing strengthening of core earnings.
•Continued the strategic remixing of the loan portfolio, growing total loans by 7.2% on an annualized basis, while reducing multifamily mortgage exposure.
•Total deposits grew by 8.7% on an annualized basis, reflecting continued momentum across the Bank's commercial deposit initiatives and supporting loan growth and balance sheet optimization.
•Launched a Nonprofit and Independent Education Banking team led by a seasoned industry professional with extensive experience serving mission-driven organizations through specialized banking solutions, further strengthening the Bank's commercial banking capabilities.
Balance Sheet
•Total assets were $7.78 billion at September 30, 2026, an increase of $95.7 million, or 1.2%, from June 30, 2026.
•Investment securities totaled $1.04 billion at September 30, 2026, a decrease of $35.0 million, or 3.3%, from June 30, 2026.
•Loans receivable totaled $5.98 billion at September 30, 2026, an increase of $105.1 million, or 1.8%, from June 30, 2026.
•Deposits were $5.83 billion at September 30, 2026, an increase of $123.9 million, or 2.2%, from June 30, 2026, primarily driven by growth in interest-bearing demand deposits.
•Borrowings were $1.14 billion at September 30, 2026, a decrease of $15.0 million, or 1.3%, from June 30, 2026, reflecting reductions in overnight borrowings, partially offset by an increase in Federal Home Loan Bank (“FHLB”) advances.
1
•At September 30, 2026, the Company maintained available secured borrowing capacity with the FHLB and the Federal Reserve Discount Window of $2.21 billion, representing 28.5% of total assets.
Earnings
Net Interest Income and Net Interest Margin
•Average loan yields increased 10 basis points and average loan balances grew for the quarter ended September 30, 2026, contributing to an increase of $2.2 million, or 2.7%, in total interest income. Net interest margin was 2.23% for the quarter ended September 30, 2026, a decrease of three basis points from the prior quarter, as the benefit from higher asset yields was offset by the repricing of the Company’s final remaining COVID-era wholesale funding position and declines in purchase accounting accretion and loan prepayment penalty income, as described in further detail below.
•For the quarter ended September 30, 2026, net interest income decreased $294,000 to $40.1 million from $40.4 million for the quarter ended June 30, 2026. Included in net interest income for the quarters ended September 30, 2026 and June 30, 2026, respectively, was purchase accounting accretion of $396,000 and $537,000, and loan prepayment penalty income of $336,000 and $622,000. Excluding loan prepayment penalty income and purchase accounting accretion, net interest income increased $132,000 from the prior period.
Non-Interest Income
•For the quarter ended September 30, 2026, non-interest income decreased $110,000, or 2.1%, to $5.2 million from $5.3 million for the quarter ended June 30, 2026, primarily due to a non-recurring write-down of $122,000 on one other real estate owned property resulting from an updated appraisal. The remaining changes in non-interest income reflected normal operating fluctuations within those line items.
Non-Interest Expense
•For the quarter ended September 30, 2026, non-interest expense decreased $2.1 million, or 6.1%, to $31.8 million from $33.9 million for the quarter ended June 30, 2026, primarily driven by decreases in salary and benefits, advertising, equipment and systems, and other expense.
•Salary and benefits expense decreased $883,000 to $19.4 million for the quarter ended September 30, 2026 from $20.3 million for the quarter ended June 30, 2026, primarily driven by the absence of a $745,000 non-recurring severance charge recorded in the prior period and a $193,000 non-recurring decrease in stock-based compensation recorded in the current period. Excluding these items, salary and benefits expense remained relatively unchanged at $19.6 million for both periods.
•Advertising and marketing expense decreased $365,000 to $381,000 for the quarter ended September 30, 2026 from $746,000 for the quarter ended June 30, 2026, primarily driven by lower advertising expenses across various formats.
•Equipment and systems expense decreased $126,000 to $3.7 million for the quarter ended September 30, 2026 from $3.9 million for the quarter ended June 30, 2026, primarily driven by lower third-party core processing service fees.
•Other expense decreased $705,000 to $3.7 million for the quarter ended September 30, 2026 from $4.4 million for the quarter ended June 30, 2026, primarily driven by lower professional fees, provision for credit losses on unfunded commitments, and other real estate owned expenses. Changes in the other components of non-interest expense between comparative periods reflected normal operating fluctuations within those line items.
Income Taxes
•Income tax expense totaled $2.6 million for the quarter ended September 30, 2026 compared to $3.8 million for the quarter ended June 30, 2026, resulting in an effective tax rate of 20.7% and 34.9%, respectively. Income tax expense in the prior period included a $1.6 million valuation allowance against a deferred tax asset related to certain legacy stock-based compensation awards.
2
Asset Quality
•The balance of non-performing assets increased $3.2 million to $56.6 million, or 0.73% of total assets, at September 30, 2026 from $53.4 million, or 0.70% of total assets, at June 30, 2026.
•Net charge-offs totaled $277,000, or 0.02% of average loans, on an annualized basis, for the quarter ended September 30, 2026, compared to $49,000, or less than 0.01% of average loans, on an annualized basis, for the quarter ended June 30, 2026.
•For the quarter ended September 30, 2026, the Company recorded a provision for credit losses of $830,000, compared to $822,000 for the quarter ended June 30, 2026. The provision for credit loss expense for the quarter ended September 30, 2026 was primarily driven by loan growth.
•Allowance for credit losses (“ACL”) was $46.0 million, or 0.77% of total loans, at September 30, 2026, an increase of $553,000 from $45.5 million, or 0.77% of total loans, at June 30, 2026. The increase in the ACL from June 30, 2026 was primarily driven by a provision for credit losses, partially offset by loan charge-offs, as noted above.
Capital
•For the quarter ended September 30, 2026, book value per share decreased $0.20, or 1.7%, to $11.64 and tangible book value per share (non-GAAP) decreased $0.19, or 1.9%, to $9.88, primarily reflecting changes in the fair value of available-for-sale securities resulting from market interest rate movements during the quarter.
•At September 30, 2026, total stockholders’ equity included after-tax net unrealized losses on securities available for sale of $90.6 million, partially offset by after-tax unrealized gains on derivatives of $13.1 million. After-tax net unrecognized losses on securities held to maturity of $11.6 million were not reflected in total stockholders’ equity.
•At September 30, 2026, the Company’s tangible equity to tangible assets ratio (non-GAAP) equaled 8.37%. Additionally, the regulatory capital ratios of both the Company and the Bank continued to be in excess of all applicable regulatory requirements as of September 30, 2026.
This earnings release should be read in conjunction with Kearny Financial Corp.’s Q1 2027 Investor Presentation, a copy of which is available through the Investor Relations link located at the bottom of the page of our website at www.kearnybank.com and via a Current Report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov.
Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. The Company does not undertake and specifically disclaims any obligation to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
Category: Earnings
3
| Linked-Quarter Comparative Financial Analysis | ||
Kearny Financial Corp.
Consolidated Balance Sheets
(Unaudited)
| (Dollars and Shares in Thousands, Except Per Share Data) | September 30, 2026 | June 30, 2026 | Variance or Change | Variance or Change Pct. | ||||||||||
| Assets | ||||||||||||||
| Cash and cash equivalents | $ | 115,829 | $ | 114,823 | $ | 1,006 | 0.9 | % | ||||||
| Securities available for sale | 931,965 | 964,369 | (32,404) | -3.4 | % | |||||||||
| Securities held to maturity | 104,228 | 106,814 | (2,586) | -2.4 | % | |||||||||
| Loans held-for-sale | 4,786 | 6,022 | (1,236) | -20.5 | % | |||||||||
| Loans receivable | 5,980,398 | 5,875,325 | 105,073 | 1.8 | % | |||||||||
| Less: allowance for credit losses on loans | (46,049) | (45,496) | 553 | 1.2 | % | |||||||||
| Net loans receivable | 5,934,349 | 5,829,829 | 104,520 | 1.8 | % | |||||||||
| Premises and equipment | 42,112 | 42,359 | (247) | -0.6 | % | |||||||||
| Federal Home Loan Bank stock | 59,176 | 59,726 | (550) | -0.9 | % | |||||||||
| Accrued interest receivable | 31,328 | 27,875 | 3,453 | 12.4 | % | |||||||||
| Goodwill | 113,525 | 113,525 | — | — | % | |||||||||
| Core deposit intangible | 857 | 968 | (111) | -11.5 | % | |||||||||
| Bank owned life insurance | 317,512 | 314,756 | 2,756 | 0.9 | % | |||||||||
| Deferred income taxes, net | 52,953 | 48,699 | 4,254 | 8.7 | % | |||||||||
| Other real estate owned | 5,397 | 5,519 | (122) | -2.2 | % | |||||||||
| Other assets | 63,885 | 46,921 | 16,964 | 36.2 | % | |||||||||
| Total assets | $ | 7,777,902 | $ | 7,682,205 | $ | 95,697 | 1.2 | % | ||||||
| Liabilities | ||||||||||||||
| Deposits: | ||||||||||||||
| Non-interest-bearing | $ | 790,227 | $ | 788,015 | $ | 2,212 | 0.3 | % | ||||||
| Interest-bearing | 5,043,269 | 4,921,610 | 121,659 | 2.5 | % | |||||||||
| Total deposits | 5,833,496 | 5,709,625 | 123,871 | 2.2 | % | |||||||||
| Borrowings | 1,135,000 | 1,150,000 | (15,000) | -1.3 | % | |||||||||
| Advance payments by borrowers for taxes | 18,640 | 18,562 | 78 | 0.4 | % | |||||||||
| Other liabilities | 34,861 | 37,348 | (2,487) | -6.7 | % | |||||||||
| Total liabilities | 7,021,997 | 6,915,535 | 106,462 | 1.5 | % | |||||||||
| Stockholders' Equity | ||||||||||||||
| Common stock | 649 | 648 | 1 | 0.2 | % | |||||||||
| Paid-in capital | 495,513 | 495,953 | (440) | -0.1 | % | |||||||||
| Retained earnings | 353,055 | 350,046 | 3,009 | 0.9 | % | |||||||||
| Unearned ESOP shares | (16,538) | (17,025) | 487 | 2.9 | % | |||||||||
| Accumulated other comprehensive loss | (76,774) | (62,952) | (13,822) | -22.0 | % | |||||||||
| Total stockholders' equity | 755,905 | 766,670 | (10,765) | -1.4 | % | |||||||||
| Total liabilities and stockholders' equity | $ | 7,777,902 | $ | 7,682,205 | $ | 95,697 | 1.2 | % | ||||||
| Consolidated capital ratios | ||||||||||||||
| Equity to assets | 9.72 | % | 9.98 | % | -0.26 | % | ||||||||
Tangible equity to tangible assets (non-GAAP) (1) | 8.37 | % | 8.62 | % | -0.25 | % | ||||||||
| Share data | ||||||||||||||
| Outstanding shares | 64,929 | 64,738 | 191 | 0.3 | % | |||||||||
| Book value per share | $ | 11.64 | $ | 11.84 | $ | (0.20) | -1.7 | % | ||||||
Tangible book value per share (non-GAAP) (2) | $ | 9.88 | $ | 10.07 | $ | (0.19) | -1.9 | % | ||||||
_________________________
(1)Tangible equity and tangible assets exclude goodwill and core deposit intangibles.
(2)Tangible book value excludes goodwill and core deposit intangibles.
4
Kearny Financial Corp.
Consolidated Statements of Income
(Unaudited)
| (Dollars and Shares in Thousands, Except Per Share Data) | Three Months Ended | Variance or Change | Variance or Change Pct. | |||||||||||
| September 30, 2026 | June 30, 2026 | |||||||||||||
| Interest income | ||||||||||||||
| Loans | $ | 71,425 | $ | 69,376 | $ | 2,049 | 3.0 | % | ||||||
| Taxable investment securities | 11,462 | 11,328 | 134 | 1.2 | % | |||||||||
| Tax-exempt investment securities | 26 | 29 | (3) | -10.3 | % | |||||||||
| Other interest-earning assets | 1,317 | 1,251 | 66 | 5.3 | % | |||||||||
| Total interest income | 84,230 | 81,984 | 2,246 | 2.7 | % | |||||||||
| Interest expense | ||||||||||||||
| Deposits | 31,923 | 30,537 | 1,386 | 4.5 | % | |||||||||
| Borrowings | 12,227 | 11,073 | 1,154 | 10.4 | % | |||||||||
| Total interest expense | 44,150 | 41,610 | 2,540 | 6.1 | % | |||||||||
| Net interest income | 40,080 | 40,374 | (294) | -0.7 | % | |||||||||
| Provision for credit losses | 830 | 822 | 8 | 1.0 | % | |||||||||
| Net interest income after provision for credit losses | 39,250 | 39,552 | (302) | -0.8 | % | |||||||||
| Non-interest income | ||||||||||||||
| Fees and service charges | 1,022 | 1,066 | (44) | -4.1 | % | |||||||||
| Gain on sale of loans | 217 | 316 | (99) | -31.3 | % | |||||||||
| Loss on other real estate owned | (122) | — | (122) | — | % | |||||||||
| Income from bank owned life insurance | 2,756 | 2,706 | 50 | 1.8 | % | |||||||||
| Electronic banking fees and charges | 464 | 460 | 4 | 0.9 | % | |||||||||
| Other income | 866 | 765 | 101 | 13.2 | % | |||||||||
| Total non-interest income | 5,203 | 5,313 | (110) | -2.1 | % | |||||||||
| Non-interest expense | ||||||||||||||
| Salaries and employee benefits | 19,430 | 20,313 | (883) | -4.3 | % | |||||||||
| Net occupancy expense of premises | 2,785 | 2,862 | (77) | -2.7 | % | |||||||||
| Equipment and systems | 3,725 | 3,851 | (126) | -3.3 | % | |||||||||
| Advertising and marketing | 381 | 746 | (365) | -48.9 | % | |||||||||
| Federal deposit insurance premium | 1,425 | 1,360 | 65 | 4.8 | % | |||||||||
| Directors' compensation | 333 | 307 | 26 | 8.5 | % | |||||||||
| Other expense | 3,708 | 4,413 | (705) | -16.0 | % | |||||||||
| Total non-interest expense | 31,787 | 33,852 | (2,065) | -6.1 | % | |||||||||
| Income before income taxes | 12,666 | 11,013 | 1,653 | 15.0 | % | |||||||||
| Income taxes | 2,622 | 3,841 | (1,219) | -31.7 | % | |||||||||
| Net income | $ | 10,044 | $ | 7,172 | $ | 2,872 | 40.0 | % | ||||||
| Net income per common share (EPS) | ||||||||||||||
| Basic | $ | 0.16 | $ | 0.11 | $ | 0.05 | ||||||||
| Diluted | $ | 0.16 | $ | 0.11 | $ | 0.05 | ||||||||
| Dividends declared | ||||||||||||||
| Cash dividends declared per common share | $ | 0.11 | $ | 0.11 | $ | — | ||||||||
| Cash dividends declared | $ | 7,035 | $ | 7,008 | $ | 27 | ||||||||
| Dividend payout ratio | 70.0 | % | 97.7 | % | -27.7 | % | ||||||||
| Weighted average number of common shares outstanding | ||||||||||||||
| Basic | 63,122 | 62,958 | 164 | |||||||||||
| Diluted | 63,563 | 63,403 | 160 | |||||||||||
5
Kearny Financial Corp.
Average Balance Sheet Data
(Unaudited)
| (Dollars in Thousands) | Three Months Ended | Variance or Change | Variance or Change Pct. | |||||||||||
| September 30, 2026 | June 30, 2026 | |||||||||||||
| Assets | ||||||||||||||
| Interest-earning assets: | ||||||||||||||
| Loans receivable, including loans held for sale | $ | 5,908,455 | $ | 5,854,248 | $ | 54,207 | 0.9 | % | ||||||
| Taxable investment securities | 1,171,085 | 1,185,569 | (14,484) | -1.2 | % | |||||||||
| Tax-exempt investment securities | 4,344 | 4,759 | (415) | -8.7 | % | |||||||||
| Other interest-earning assets | 115,794 | 109,098 | 6,696 | 6.1 | % | |||||||||
| Total interest-earning assets | 7,199,678 | 7,153,674 | 46,004 | 0.6 | % | |||||||||
| Non-interest-earning assets | 456,954 | 456,877 | 77 | 0.0 | % | |||||||||
| Total assets | $ | 7,656,632 | $ | 7,610,551 | $ | 46,081 | 0.6 | % | ||||||
| Liabilities and Stockholders' Equity | ||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||
| Deposits: | ||||||||||||||
| Interest-bearing demand | $ | 2,272,168 | $ | 2,207,264 | $ | 64,904 | 2.9 | % | ||||||
| Savings | 748,945 | 760,770 | (11,825) | -1.6 | % | |||||||||
| Certificates of deposit (retail) | 1,181,612 | 1,190,922 | (9,310) | -0.8 | % | |||||||||
| Certificates of deposit (brokered) | 565,208 | 673,031 | (107,823) | -16.0 | % | |||||||||
| Total interest-bearing deposits | 4,767,933 | 4,831,987 | (64,054) | -1.3 | % | |||||||||
| Borrowings: | ||||||||||||||
| Federal Home Loan Bank advances | 1,137,228 | 1,022,637 | 114,591 | 11.2 | % | |||||||||
| Other borrowings | 135,217 | 150,275 | (15,058) | -10.0 | % | |||||||||
| Total borrowings | 1,272,445 | 1,172,912 | 99,533 | 8.5 | % | |||||||||
| Total interest-bearing liabilities | 6,040,378 | 6,004,899 | 35,479 | 0.6 | % | |||||||||
| Non-interest-bearing liabilities: | ||||||||||||||
| Non-interest-bearing deposits | 796,212 | 788,059 | 8,153 | 1.0 | % | |||||||||
| Other non-interest-bearing liabilities | 56,617 | 54,614 | 2,003 | 3.7 | % | |||||||||
| Total non-interest-bearing liabilities | 852,829 | 842,673 | 10,156 | 1.2 | % | |||||||||
| Total liabilities | 6,893,207 | 6,847,572 | 45,635 | 0.7 | % | |||||||||
| Stockholders' equity | 763,425 | 762,979 | 446 | 0.1 | % | |||||||||
| Total liabilities and stockholders' equity | $ | 7,656,632 | $ | 7,610,551 | $ | 46,081 | 0.6 | % | ||||||
| Average interest-earning assets to average interest-bearing liabilities | 119.19 | % | 119.13 | % | 0.06 | % | 0.1 | % | ||||||
6
Kearny Financial Corp.
Performance Ratio Highlights
(Unaudited)
| Three Months Ended | Variance or Change | ||||||||||
| September 30, 2026 | June 30, 2026 | ||||||||||
| Average yield on interest-earning assets: | |||||||||||
| Loans receivable, including loans held for sale | 4.84 | % | 4.74 | % | 0.10 | % | |||||
| Taxable investment securities | 3.91 | % | 3.82 | % | 0.09 | % | |||||
Tax-exempt investment securities (1) | 2.43 | % | 2.40 | % | 0.03 | % | |||||
| Other interest-earning assets | 4.55 | % | 4.59 | % | -0.04 | % | |||||
| Total interest-earning assets | 4.68 | % | 4.58 | % | 0.10 | % | |||||
| Average cost of interest-bearing liabilities: | |||||||||||
| Deposits: | |||||||||||
| Interest-bearing demand | 2.54 | % | 2.49 | % | 0.05 | % | |||||
| Savings | 1.27 | % | 1.34 | % | -0.07 | % | |||||
| Certificates of deposit (retail) | 3.19 | % | 3.17 | % | 0.02 | % | |||||
| Certificates of deposit (brokered) | 4.03 | % | 2.87 | % | 1.16 | % | |||||
| Total interest-bearing deposits | 2.68 | % | 2.53 | % | 0.15 | % | |||||
| Borrowings: | |||||||||||
| Federal Home Loan Bank advances | 3.85 | % | 3.79 | % | 0.06 | % | |||||
| Other borrowings | 3.77 | % | 3.71 | % | 0.06 | % | |||||
| Total borrowings | 3.84 | % | 3.78 | % | 0.06 | % | |||||
| Total interest-bearing liabilities | 2.92 | % | 2.77 | % | 0.15 | % | |||||
Interest rate spread (2) | 1.76 | % | 1.81 | % | -0.05 | % | |||||
Net interest margin (3) | 2.23 | % | 2.26 | % | -0.03 | % | |||||
| Non-interest income to average assets (annualized) | 0.27 | % | 0.28 | % | -0.01 | % | |||||
| Non-interest expense to average assets (annualized) | 1.66 | % | 1.78 | % | -0.12 | % | |||||
Efficiency ratio (4) | 70.20 | % | 74.09 | % | -3.89 | % | |||||
| Return on average assets (annualized) | 0.52 | % | 0.38 | % | 0.14 | % | |||||
| Return on average equity (annualized) | 5.26 | % | 3.76 | % | 1.50 | % | |||||
Return on average tangible equity (annualized) (5) | 6.24 | % | 4.48 | % | 1.76 | % | |||||
_________________________
(1)The yield on tax-exempt investment securities has not been adjusted to reflect their tax-effective yield.
(2)Interest income divided by average interest-earning assets less interest expense divided by average interest-bearing liabilities.
(3)Net interest income divided by average interest-earning assets.
(4)Non-interest expense divided by the sum of net interest income and non-interest income.
(5)Average tangible equity excludes average goodwill and core deposit intangibles. See the “Reconciliation of GAAP to non-GAAP” table.
7
| Five-Quarter Financial Trend Analysis | ||
Kearny Financial Corp.
Consolidated Balance Sheets
| (Dollars and Shares in Thousands, Except Per Share Data) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||
| (Unaudited) | (Audited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
| Assets | |||||||||||||||||
| Cash and cash equivalents | $ | 115,829 | $ | 114,823 | $ | 123,836 | $ | 147,340 | $ | 130,139 | |||||||
| Securities available for sale | 931,965 | 964,369 | 983,325 | 1,000,397 | 1,016,182 | ||||||||||||
| Securities held to maturity | 104,228 | 106,814 | 110,581 | 112,800 | 116,681 | ||||||||||||
| Loans held-for-sale | 4,786 | 6,022 | 12,183 | 8,786 | 6,650 | ||||||||||||
| Loans receivable | 5,980,398 | 5,875,325 | 5,779,181 | 5,753,393 | 5,767,419 | ||||||||||||
| Less: allowance for credit losses on loans | (46,049) | (45,496) | (44,723) | (44,958) | (45,060) | ||||||||||||
| Net loans receivable | 5,934,349 | 5,829,829 | 5,734,458 | 5,708,435 | 5,722,359 | ||||||||||||
| Premises and equipment | 42,112 | 42,359 | 41,896 | 42,559 | 43,222 | ||||||||||||
| Federal Home Loan Bank stock | 59,176 | 59,726 | 55,737 | 57,212 | 62,011 | ||||||||||||
| Accrued interest receivable | 31,328 | 27,875 | 28,304 | 27,420 | 29,460 | ||||||||||||
| Goodwill | 113,525 | 113,525 | 113,525 | 113,525 | 113,525 | ||||||||||||
| Core deposit intangible | 857 | 968 | 1,080 | 1,198 | 1,317 | ||||||||||||
| Bank owned life insurance | 317,512 | 314,756 | 312,050 | 309,404 | 307,248 | ||||||||||||
| Deferred income taxes, net | 52,953 | 48,699 | 50,961 | 51,617 | 51,587 | ||||||||||||
| Other real estate owned | 5,397 | 5,519 | — | — | — | ||||||||||||
| Other assets | 63,885 | 46,921 | 39,720 | 40,185 | 47,629 | ||||||||||||
| Total assets | $ | 7,777,902 | $ | 7,682,205 | $ | 7,607,656 | $ | 7,620,878 | $ | 7,648,010 | |||||||
| Liabilities | |||||||||||||||||
| Deposits: | |||||||||||||||||
| Non-interest-bearing | $ | 790,227 | $ | 788,015 | $ | 631,506 | $ | 627,180 | $ | 578,481 | |||||||
| Interest-bearing | 5,043,269 | 4,921,610 | 5,097,576 | 5,084,370 | 5,053,401 | ||||||||||||
| Total deposits | 5,833,496 | 5,709,625 | 5,729,082 | 5,711,550 | 5,631,882 | ||||||||||||
| Borrowings | 1,135,000 | 1,150,000 | 1,060,000 | 1,095,000 | 1,206,497 | ||||||||||||
| Advance payments by borrowers for taxes | 18,640 | 18,562 | 19,317 | 18,474 | 19,261 | ||||||||||||
| Other liabilities | 34,861 | 37,348 | 36,225 | 38,458 | 37,166 | ||||||||||||
| Total liabilities | 7,021,997 | 6,915,535 | 6,844,624 | 6,863,482 | 6,894,806 | ||||||||||||
| Stockholders' Equity | |||||||||||||||||
| Common stock | 649 | 648 | 648 | 648 | 648 | ||||||||||||
| Paid-in capital | 495,513 | 495,953 | 495,442 | 494,959 | 494,490 | ||||||||||||
| Retained earnings | 353,055 | 350,046 | 349,881 | 346,749 | 344,287 | ||||||||||||
| Unearned ESOP shares | (16,538) | (17,025) | (17,511) | (17,997) | (18,484) | ||||||||||||
| Accumulated other comprehensive loss | (76,774) | (62,952) | (65,428) | (66,963) | (67,737) | ||||||||||||
| Total stockholders' equity | 755,905 | 766,670 | 763,032 | 757,396 | 753,204 | ||||||||||||
| Total liabilities and stockholders' equity | $ | 7,777,902 | $ | 7,682,205 | $ | 7,607,656 | $ | 7,620,878 | $ | 7,648,010 | |||||||
| Consolidated capital ratios | |||||||||||||||||
| Equity to assets | 9.72 | % | 9.98 | % | 10.03 | % | 9.94 | % | 9.85 | % | |||||||
Tangible equity to tangible assets (non-GAAP) (1) | 8.37 | % | 8.62 | % | 8.65 | % | 8.56 | % | 8.47 | % | |||||||
| Share data | |||||||||||||||||
| Outstanding shares | 64,929 | 64,738 | 64,739 | 64,739 | 64,739 | ||||||||||||
| Book value per share | $ | 11.64 | $ | 11.84 | $ | 11.79 | $ | 11.70 | $ | 11.63 | |||||||
Tangible book value per share (non-GAAP) (2) | $ | 9.88 | $ | 10.07 | $ | 10.02 | $ | 9.93 | $ | 9.86 | |||||||
_________________________
(1)Tangible equity and tangible assets exclude goodwill and core deposit intangibles.
(2)Tangible book value excludes goodwill and core deposit intangibles.
8
Kearny Financial Corp.
Supplemental Balance Sheet Highlights
(Unaudited)
| (Dollars in Thousands) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||
| Loan portfolio composition: | |||||||||||||||||
| Commercial loans: | |||||||||||||||||
| Multi-family mortgage | $ | 2,436,745 | $ | 2,499,894 | $ | 2,555,001 | $ | 2,619,124 | $ | 2,640,737 | |||||||
| Nonresidential mortgage | 1,049,308 | 1,019,445 | 1,012,422 | 990,178 | 988,969 | ||||||||||||
| Commercial and industrial | 231,361 | 223,927 | 201,277 | 169,884 | 142,304 | ||||||||||||
| Construction | 303,007 | 263,200 | 207,765 | 181,766 | 189,626 | ||||||||||||
| Total commercial loans | 4,020,421 | 4,006,466 | 3,976,465 | 3,960,952 | 3,961,636 | ||||||||||||
| One- to four-family residential mortgage | 1,810,732 | 1,789,865 | 1,741,023 | 1,730,543 | 1,749,362 | ||||||||||||
| Consumer loans: | |||||||||||||||||
| Home equity loans | 76,827 | 79,844 | 61,379 | 59,046 | 54,116 | ||||||||||||
| Other consumer | 77,397 | 2,387 | 2,377 | 2,523 | 2,487 | ||||||||||||
| Total consumer loans | 154,224 | 82,231 | 63,756 | 61,569 | 56,603 | ||||||||||||
| Total loans, excluding yield adjustments | 5,985,377 | 5,878,562 | 5,781,244 | 5,753,064 | 5,767,601 | ||||||||||||
| Unaccreted yield adjustments | (4,979) | (3,237) | (2,063) | 329 | (182) | ||||||||||||
| Loans receivable, net of yield adjustments | 5,980,398 | 5,875,325 | 5,779,181 | 5,753,393 | 5,767,419 | ||||||||||||
| Less: allowance for credit losses on loans | (46,049) | (45,496) | (44,723) | (44,958) | (45,060) | ||||||||||||
| Net loans receivable | $ | 5,934,349 | $ | 5,829,829 | $ | 5,734,458 | $ | 5,708,435 | $ | 5,722,359 | |||||||
| Asset quality: | |||||||||||||||||
| Nonperforming assets: | |||||||||||||||||
| Accruing loans - 90 days and over past due | $ | — | $ | — | $ | — | $ | — | $ | 20,494 | |||||||
| Nonaccrual loans | 51,160 | 47,896 | 52,379 | 51,306 | 44,085 | ||||||||||||
| Total nonperforming loans | 51,160 | 47,896 | 52,379 | 51,306 | 64,579 | ||||||||||||
| Other real estate owned | 5,397 | 5,519 | — | — | — | ||||||||||||
| Total nonperforming assets | $ | 56,557 | $ | 53,415 | $ | 52,379 | $ | 51,306 | $ | 64,579 | |||||||
| Nonperforming loans (% total loans) | 0.86 | % | 0.82 | % | 0.91 | % | 0.89 | % | 1.12 | % | |||||||
| Nonperforming assets (% total assets) | 0.73 | % | 0.70 | % | 0.69 | % | 0.67 | % | 0.84 | % | |||||||
| Classified loans | $ | 90,891 | $ | 88,202 | $ | 97,384 | $ | 97,542 | $ | 117,780 | |||||||
| Allowance for credit losses on loans (ACL): | |||||||||||||||||
| ACL to total loans | 0.77 | % | 0.77 | % | 0.77 | % | 0.78 | % | 0.78 | % | |||||||
| ACL to nonperforming loans | 90.01 | % | 94.99 | % | 85.38 | % | 87.63 | % | 69.78 | % | |||||||
| Net charge-offs | $ | 277 | $ | 49 | $ | 626 | $ | 669 | $ | 1,049 | |||||||
| Average net charge-off rate (annualized) | 0.02 | % | 0.00 | % | 0.04 | % | 0.05 | % | 0.07 | % | |||||||
9
Kearny Financial Corp.
Supplemental Balance Sheet Highlights
(Unaudited)
| (Dollars in Thousands) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||
| Funding composition: | |||||||||||||||||
| Deposits: | |||||||||||||||||
| Non-interest-bearing deposits | $ | 790,227 | $ | 788,015 | $ | 631,506 | $ | 627,180 | $ | 578,481 | |||||||
| Interest-bearing demand | 2,358,751 | 2,214,432 | 2,375,565 | 2,376,825 | 2,334,560 | ||||||||||||
| Savings | 730,531 | 766,502 | 763,016 | 769,742 | 751,253 | ||||||||||||
| Certificates of deposit (retail) | 1,198,701 | 1,183,427 | 1,201,752 | 1,180,370 | 1,208,408 | ||||||||||||
| Certificates of deposit (brokered) | 755,286 | 757,249 | 757,243 | 757,433 | 759,180 | ||||||||||||
| Interest-bearing deposits | 5,043,269 | 4,921,610 | 5,097,576 | 5,084,370 | 5,053,401 | ||||||||||||
| Total deposits | 5,833,496 | 5,709,625 | 5,729,082 | 5,711,550 | 5,631,882 | ||||||||||||
| Borrowings: | |||||||||||||||||
| Federal Home Loan Bank advances | 1,025,000 | 950,000 | 900,000 | 800,000 | 1,006,497 | ||||||||||||
| Overnight borrowings | 110,000 | 200,000 | 160,000 | 295,000 | 200,000 | ||||||||||||
| Total borrowings | 1,135,000 | 1,150,000 | 1,060,000 | 1,095,000 | 1,206,497 | ||||||||||||
| Total funding | $ | 6,968,496 | $ | 6,859,625 | $ | 6,789,082 | $ | 6,806,550 | $ | 6,838,379 | |||||||
| Loans as a % of deposits | 101.8 | % | 102.2 | % | 100.3 | % | 100.1 | % | 101.7 | % | |||||||
| Deposits as a % of total funding | 83.7 | % | 83.2 | % | 84.4 | % | 83.9 | % | 82.4 | % | |||||||
| Borrowings as a % of total funding | 16.3 | % | 16.8 | % | 15.6 | % | 16.1 | % | 17.6 | % | |||||||
| Uninsured deposits: | |||||||||||||||||
Uninsured deposits (reported) (1) | $ | 2,418,530 | $ | 2,245,646 | $ | 2,199,708 | $ | 2,158,440 | $ | 2,040,021 | |||||||
Uninsured deposits (adjusted) (2) | $ | 883,421 | $ | 850,952 | $ | 839,094 | $ | 800,998 | $ | 804,209 | |||||||
_________________________
(1)Uninsured deposits of Kearny Bank.
(2)Uninsured deposits of Kearny Bank adjusted to exclude deposits of its wholly-owned subsidiary and holding company and collateralized deposits of state and local governments.
10
Kearny Financial Corp.
Consolidated Statements of Income
(Unaudited)
| Three Months Ended | |||||||||||||||||
| (Dollars and Shares in Thousands, Except Per Share Data) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||
| Interest income | |||||||||||||||||
| Loans | $ | 71,425 | $ | 69,376 | $ | 66,310 | $ | 67,410 | $ | 68,349 | |||||||
| Taxable investment securities | 11,462 | 11,328 | 11,425 | 11,623 | 12,600 | ||||||||||||
| Tax-exempt investment securities | 26 | 29 | 34 | 35 | 41 | ||||||||||||
| Other interest-earning assets | 1,317 | 1,251 | 1,400 | 1,584 | 1,518 | ||||||||||||
| Total interest income | 84,230 | 81,984 | 79,169 | 80,652 | 82,508 | ||||||||||||
| Interest expense | |||||||||||||||||
| Deposits | 31,923 | 30,537 | 31,045 | 33,148 | 33,931 | ||||||||||||
| Borrowings | 12,227 | 11,073 | 8,888 | 9,535 | 10,873 | ||||||||||||
| Total interest expense | 44,150 | 41,610 | 39,933 | 42,683 | 44,804 | ||||||||||||
| Net interest income | 40,080 | 40,374 | 39,236 | 37,969 | 37,704 | ||||||||||||
| Provision for (reversal of) credit losses | 830 | 822 | 391 | 567 | (82) | ||||||||||||
| Net interest income after provision for (reversal of) credit losses | 39,250 | 39,552 | 38,845 | 37,402 | 37,786 | ||||||||||||
| Non-interest income | |||||||||||||||||
| Fees and service charges | 1,022 | 1,066 | 922 | 1,295 | 892 | ||||||||||||
| Gain on sale of loans | 217 | 316 | 193 | 224 | 199 | ||||||||||||
| Loss on other real estate owned | (122) | — | — | — | — | ||||||||||||
| Income from bank owned life insurance | 2,756 | 2,706 | 2,646 | 2,710 | 2,689 | ||||||||||||
| Electronic banking fees and charges | 464 | 460 | 389 | 473 | 416 | ||||||||||||
| Other income | 866 | 765 | 1,944 | 869 | 1,651 | ||||||||||||
| Total non-interest income | 5,203 | 5,313 | 6,094 | 5,571 | 5,847 | ||||||||||||
| Non-interest expense | |||||||||||||||||
| Salaries and employee benefits | 19,430 | 20,313 | 19,316 | 18,373 | 18,745 | ||||||||||||
| Net occupancy expense of premises | 2,785 | 2,862 | 3,263 | 2,888 | 3,307 | ||||||||||||
| Equipment and systems | 3,725 | 3,851 | 3,975 | 4,007 | 3,974 | ||||||||||||
| Advertising and marketing | 381 | 746 | 665 | 412 | 562 | ||||||||||||
| Federal deposit insurance premium | 1,425 | 1,360 | 1,302 | 1,357 | 1,301 | ||||||||||||
| Directors' compensation | 333 | 307 | 307 | 306 | 307 | ||||||||||||
| Other expense | 3,708 | 4,413 | 3,471 | 3,848 | 3,470 | ||||||||||||
| Total non-interest expense | 31,787 | 33,852 | 32,299 | 31,191 | 31,666 | ||||||||||||
| Income before income taxes | 12,666 | 11,013 | 12,640 | 11,782 | 11,967 | ||||||||||||
| Income taxes | 2,622 | 3,841 | 2,503 | 2,333 | 2,461 | ||||||||||||
| Net income | $ | 10,044 | $ | 7,172 | $ | 10,137 | $ | 9,449 | $ | 9,506 | |||||||
| Net income per common share (EPS) | |||||||||||||||||
| Basic | $ | 0.16 | $ | 0.11 | $ | 0.16 | $ | 0.15 | $ | 0.15 | |||||||
| Diluted | $ | 0.16 | $ | 0.11 | $ | 0.16 | $ | 0.15 | $ | 0.15 | |||||||
| Dividends declared | |||||||||||||||||
| Cash dividends declared per common share | $ | 0.11 | $ | 0.11 | $ | 0.11 | $ | 0.11 | $ | 0.11 | |||||||
| Cash dividends declared | $ | 7,035 | $ | 7,008 | $ | 7,005 | $ | 6,987 | $ | 6,963 | |||||||
| Dividend payout ratio | 70.0 | % | 97.7 | % | 69.1 | % | 73.9 | % | 73.2 | % | |||||||
| Weighted average number of common shares outstanding | |||||||||||||||||
| Basic | 63,122 | 62,958 | 62,908 | 62,858 | 62,741 | ||||||||||||
| Diluted | 63,563 | 63,403 | 63,251 | 63,061 | 62,951 | ||||||||||||
11
Kearny Financial Corp.
Average Balance Sheet Data
(Unaudited)
| Three Months Ended | |||||||||||||||||
| (Dollars in Thousands) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||
| Assets | |||||||||||||||||
| Interest-earning assets: | |||||||||||||||||
| Loans receivable, including loans held-for-sale | $ | 5,908,455 | $ | 5,854,248 | $ | 5,785,095 | $ | 5,778,680 | $ | 5,806,767 | |||||||
| Taxable investment securities | 1,171,085 | 1,185,569 | 1,194,487 | 1,185,602 | 1,236,705 | ||||||||||||
| Tax-exempt investment securities | 4,344 | 4,759 | 5,669 | 5,902 | 6,856 | ||||||||||||
| Other interest-earning assets | 115,794 | 109,098 | 106,967 | 123,475 | 115,776 | ||||||||||||
| Total interest-earning assets | 7,199,678 | 7,153,674 | 7,092,218 | 7,093,659 | 7,166,104 | ||||||||||||
| Non-interest-earning assets | 456,954 | 456,877 | 455,725 | 455,752 | 453,215 | ||||||||||||
| Total assets | $ | 7,656,632 | $ | 7,610,551 | $ | 7,547,943 | $ | 7,549,411 | $ | 7,619,319 | |||||||
| Liabilities and Stockholders' Equity | |||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||
| Deposits: | |||||||||||||||||
| Interest-bearing demand | $ | 2,272,168 | $ | 2,207,264 | $ | 2,402,177 | $ | 2,385,397 | $ | 2,343,809 | |||||||
| Savings | 748,945 | 760,770 | 761,090 | 759,247 | 754,244 | ||||||||||||
| Certificates of deposit (retail) | 1,181,612 | 1,190,922 | 1,181,526 | 1,201,950 | 1,211,026 | ||||||||||||
| Certificates of deposit (brokered) | 565,208 | 673,031 | 755,461 | 756,179 | 755,813 | ||||||||||||
| Total interest-bearing deposits | 4,767,933 | 4,831,987 | 5,100,254 | 5,102,773 | 5,064,892 | ||||||||||||
| Borrowings: | |||||||||||||||||
| Federal Home Loan Bank advances | 1,137,228 | 1,022,637 | 861,445 | 998,760 | 1,077,146 | ||||||||||||
| Other borrowings | 135,217 | 150,275 | 133,833 | 38,478 | 85,489 | ||||||||||||
| Total borrowings | 1,272,445 | 1,172,912 | 995,278 | 1,037,238 | 1,162,635 | ||||||||||||
| Total interest-bearing liabilities | 6,040,378 | 6,004,899 | 6,095,532 | 6,140,011 | 6,227,527 | ||||||||||||
| Non-interest-bearing liabilities: | |||||||||||||||||
| Non-interest-bearing deposits | 796,212 | 788,059 | 633,494 | 595,035 | 581,625 | ||||||||||||
| Other non-interest-bearing liabilities | 56,617 | 54,614 | 59,644 | 59,447 | 65,024 | ||||||||||||
| Total non-interest-bearing liabilities | 852,829 | 842,673 | 693,138 | 654,482 | 646,649 | ||||||||||||
| Total liabilities | 6,893,207 | 6,847,572 | 6,788,670 | 6,794,493 | 6,874,176 | ||||||||||||
| Stockholders' equity | 763,425 | 762,979 | 759,273 | 754,918 | 745,143 | ||||||||||||
| Total liabilities and stockholders' equity | $ | 7,656,632 | $ | 7,610,551 | $ | 7,547,943 | $ | 7,549,411 | $ | 7,619,319 | |||||||
| Average interest-earning assets to average interest-bearing liabilities | 119.19 | % | 119.13 | % | 116.35 | % | 115.53 | % | 115.07 | % | |||||||
12
Kearny Financial Corp.
Performance Ratio Highlights
| Three Months Ended | |||||||||||||||||
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | |||||||||||||
| Average yield on interest-earning assets: | |||||||||||||||||
| Loans receivable, including loans held-for-sale | 4.84 | % | 4.74 | % | 4.58 | % | 4.67 | % | 4.71 | % | |||||||
| Taxable investment securities | 3.91 | % | 3.82 | % | 3.83 | % | 3.92 | % | 4.08 | % | |||||||
Tax-exempt investment securities (1) | 2.43 | % | 2.40 | % | 2.37 | % | 2.36 | % | 2.42 | % | |||||||
| Other interest-earning assets | 4.55 | % | 4.59 | % | 5.24 | % | 5.13 | % | 5.24 | % | |||||||
| Total interest-earning assets | 4.68 | % | 4.58 | % | 4.47 | % | 4.55 | % | 4.61 | % | |||||||
| Average cost of interest-bearing liabilities: | |||||||||||||||||
| Deposits: | |||||||||||||||||
| Interest-bearing demand | 2.54 | % | 2.49 | % | 2.34 | % | 2.51 | % | 2.63 | % | |||||||
| Savings | 1.27 | % | 1.34 | % | 1.26 | % | 1.40 | % | 1.41 | % | |||||||
| Certificates of deposit (retail) | 3.19 | % | 3.17 | % | 3.20 | % | 3.45 | % | 3.56 | % | |||||||
| Certificates of deposit (brokered) | 4.03 | % | 2.87 | % | 2.71 | % | 2.72 | % | 2.67 | % | |||||||
| Total interest-bearing deposits | 2.68 | % | 2.53 | % | 2.43 | % | 2.60 | % | 2.68 | % | |||||||
| Borrowings: | |||||||||||||||||
| Federal Home Loan Bank advances | 3.85 | % | 3.79 | % | 3.56 | % | 3.66 | % | 3.69 | % | |||||||
| Other borrowings | 3.77 | % | 3.71 | % | 3.66 | % | 4.13 | % | 4.44 | % | |||||||
| Total borrowings | 3.84 | % | 3.78 | % | 3.57 | % | 3.68 | % | 3.74 | % | |||||||
| Total interest-bearing liabilities | 2.92 | % | 2.77 | % | 2.62 | % | 2.78 | % | 2.88 | % | |||||||
Interest rate spread (2) | 1.76 | % | 1.81 | % | 1.85 | % | 1.77 | % | 1.73 | % | |||||||
Net interest margin (3) | 2.23 | % | 2.26 | % | 2.21 | % | 2.14 | % | 2.10 | % | |||||||
| Non-interest income to average assets (annualized) | 0.27 | % | 0.28 | % | 0.32 | % | 0.30 | % | 0.31 | % | |||||||
| Non-interest expense to average assets (annualized) | 1.66 | % | 1.78 | % | 1.71 | % | 1.65 | % | 1.66 | % | |||||||
Efficiency ratio (4) | 70.20 | % | 74.09 | % | 71.25 | % | 71.64 | % | 72.71 | % | |||||||
| Return on average assets (annualized) | 0.52 | % | 0.38 | % | 0.54 | % | 0.50 | % | 0.50 | % | |||||||
| Return on average equity (annualized) | 5.26 | % | 3.76 | % | 5.34 | % | 5.01 | % | 5.10 | % | |||||||
Return on average tangible equity (annualized) (5) | 6.24 | % | 4.48 | % | 6.34 | % | 5.96 | % | 6.09 | % | |||||||
_________________________
(1)The yield on tax-exempt investment securities has not been adjusted to reflect their tax-effective yield.
(2)Interest income divided by average interest-earning assets less interest expense divided by average interest-bearing liabilities.
(3)Net interest income divided by average interest-earning assets.
(4)Non-interest expense divided by the sum of net interest income and non-interest income.
(5)Average tangible equity excludes average goodwill and core deposit intangibles. See the “Reconciliation of GAAP to non-GAAP” table.
The following tables provide a reconciliation of certain financial measures calculated in accordance with Generally Accepted Accounting Principles (“GAAP”) (as reported) and non-GAAP measures. These non-GAAP measures provide additional information which allow readers to evaluate the ongoing performance of the Company. They are not a substitute for GAAP measures; they should be read and used in conjunction with the Company’s GAAP financial information. In all cases, it should be understood that non-GAAP per share measures do not depict amounts that accrue directly to the benefit of shareholders.
13
Kearny Financial Corp.
Reconciliation of GAAP to Non-GAAP
(Unaudited)
| Three Months Ended | |||||||||||||||||
| (Dollars and Shares in Thousands, Except Per Share Data) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||
| Adjusted net income: | |||||||||||||||||
| Net income (GAAP) | $ | 10,044 | $ | 7,172 | $ | 10,137 | $ | 9,449 | $ | 9,506 | |||||||
| Non-recurring transactions - net of tax: | |||||||||||||||||
| Branch consolidation expenses | — | — | — | — | 178 | ||||||||||||
| Severance expense from workforce realignment | — | 529 | — | — | — | ||||||||||||
| Deferred tax asset valuation allowance | — | 1,562 | — | — | — | ||||||||||||
| Gain on sale of property held for sale | — | — | (724) | — | (532) | ||||||||||||
| Adjusted net income | $ | 10,044 | $ | 9,263 | $ | 9,413 | $ | 9,449 | $ | 9,152 | |||||||
| Calculation of pre-tax, pre-provision net revenue: | |||||||||||||||||
| Net income (GAAP) | $ | 10,044 | $ | 7,172 | $ | 10,137 | $ | 9,449 | $ | 9,506 | |||||||
| Adjustments to net income (GAAP): | |||||||||||||||||
| Provision for income taxes | 2,622 | 3,841 | 2,503 | 2,333 | 2,461 | ||||||||||||
| Provision for (reversal of) credit losses | 830 | 822 | 391 | 567 | (82) | ||||||||||||
| Pre-tax, pre-provision net revenue (non-GAAP) | $ | 13,496 | $ | 11,835 | $ | 13,031 | $ | 12,349 | $ | 11,885 | |||||||
| Adjustments to pre-tax, pre-provision net revenue (non-GAAP): | |||||||||||||||||
| Branch consolidation expenses | $ | — | $ | — | $ | — | $ | — | $ | 250 | |||||||
| Severance expense from workforce realignment | — | 745 | — | — | — | ||||||||||||
| Gain on sale of property held for sale | — | — | (1,020) | — | (749) | ||||||||||||
| Pre-tax, pre-provision net revenue (non-GAAP) - adjusted | $ | 13,496 | $ | 12,580 | $ | 12,011 | $ | 12,349 | $ | 11,386 | |||||||
| Adjusted earnings per share: | |||||||||||||||||
| Weighted average common shares - basic | 63,122 | 62,958 | 62,908 | 62,858 | 62,741 | ||||||||||||
| Weighted average common shares - diluted | 63,563 | 63,403 | 63,251 | 63,061 | 62,951 | ||||||||||||
| Earnings per share - basic (GAAP) | $ | 0.16 | $ | 0.11 | $ | 0.16 | $ | 0.15 | $ | 0.15 | |||||||
| Earnings per share - diluted (GAAP) | $ | 0.16 | $ | 0.11 | $ | 0.16 | $ | 0.15 | $ | 0.15 | |||||||
| Adjusted earnings per share - basic (non-GAAP) | $ | 0.16 | $ | 0.15 | $ | 0.15 | $ | 0.15 | $ | 0.15 | |||||||
| Adjusted earnings per share - diluted (non-GAAP) | $ | 0.16 | $ | 0.15 | $ | 0.15 | $ | 0.15 | $ | 0.15 | |||||||
| Pre-tax, pre-provision net revenue per share: | |||||||||||||||||
| Pre-tax, pre-provision net revenue per share - basic (non-GAAP) | $ | 0.21 | $ | 0.19 | $ | 0.21 | $ | 0.20 | $ | 0.19 | |||||||
| Pre-tax, pre-provision net revenue per share - diluted (non-GAAP) | $ | 0.21 | $ | 0.19 | $ | 0.21 | $ | 0.20 | $ | 0.19 | |||||||
| Pre-tax, pre-provision net revenue per share - basic (non-GAAP) - adjusted | $ | 0.21 | $ | 0.20 | $ | 0.19 | $ | 0.20 | $ | 0.18 | |||||||
| Pre-tax, pre-provision net revenue per share - diluted (non-GAAP) - adjusted | $ | 0.21 | $ | 0.20 | $ | 0.19 | $ | 0.20 | $ | 0.18 | |||||||
| Adjusted return on average assets: | |||||||||||||||||
| Total average assets | $ | 7,656,632 | $ | 7,610,551 | $ | 7,547,943 | $ | 7,549,411 | $ | 7,619,319 | |||||||
| Return on average assets (GAAP) | 0.52 | % | 0.38 | % | 0.54 | % | 0.50 | % | 0.50 | % | |||||||
| Adjusted return on average assets (non-GAAP) | 0.52 | % | 0.49 | % | 0.50 | % | 0.50 | % | 0.48 | % | |||||||
| Adjusted return on average equity: | |||||||||||||||||
| Total average equity | $ | 763,425 | $ | 762,979 | $ | 759,273 | $ | 754,918 | $ | 745,143 | |||||||
| Return on average equity (GAAP) | 5.26 | % | 3.76 | % | 5.34 | % | 5.01 | % | 5.10 | % | |||||||
| Adjusted return on average equity (non-GAAP) | 5.26 | % | 4.86 | % | 4.96 | % | 5.01 | % | 4.91 | % | |||||||
14
Kearny Financial Corp.
Reconciliation of GAAP to Non-GAAP
(Unaudited)
| Three Months Ended | |||||||||||||||||
| (Dollars and Shares in Thousands, Except Per Share Data) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||
| Adjusted return on average tangible equity: | |||||||||||||||||
| Total average equity | $ | 763,425 | $ | 762,979 | $ | 759,273 | $ | 754,918 | $ | 745,143 | |||||||
| Less: average goodwill | (113,525) | (113,525) | (113,525) | (113,525) | (113,525) | ||||||||||||
| Less: average other intangible assets | (930) | (1,042) | (1,157) | (1,276) | (1,395) | ||||||||||||
| Total average tangible equity | $ | 648,970 | $ | 648,412 | $ | 644,591 | $ | 640,117 | $ | 630,223 | |||||||
| Return on average tangible equity (non-GAAP) | 6.24 | % | 4.48 | % | 6.34 | % | 5.96 | % | 6.09 | % | |||||||
| Adjusted return on average tangible equity (non-GAAP) | 6.24 | % | 5.77 | % | 5.90 | % | 5.96 | % | 5.87 | % | |||||||
| Adjusted non-interest expense ratio: | |||||||||||||||||
| Non-interest expense (GAAP) | $ | 31,787 | $ | 33,852 | $ | 32,299 | $ | 31,191 | $ | 31,666 | |||||||
| Non-recurring transactions: | |||||||||||||||||
| Branch consolidation expenses | — | — | — | — | (250) | ||||||||||||
| Severance expense from workforce realignment | — | (745) | — | — | — | ||||||||||||
| Non-interest expense (non-GAAP) | $ | 31,787 | $ | 33,107 | $ | 32,299 | $ | 31,191 | $ | 31,416 | |||||||
| Non-interest expense ratio (GAAP) | 1.66 | % | 1.78 | % | 1.71 | % | 1.65 | % | 1.66 | % | |||||||
| Adjusted non-interest expense ratio (non-GAAP) | 1.66 | % | 1.74 | % | 1.71 | % | 1.65 | % | 1.65 | % | |||||||
| Adjusted efficiency ratio: | |||||||||||||||||
| Non-interest expense (non-GAAP) | $ | 31,787 | $ | 33,107 | $ | 32,299 | $ | 31,191 | $ | 31,416 | |||||||
| Net interest income (GAAP) | $ | 40,080 | $ | 40,374 | $ | 39,236 | $ | 37,969 | $ | 37,704 | |||||||
| Total non-interest income (GAAP) | 5,203 | 5,313 | 6,094 | 5,571 | 5,847 | ||||||||||||
| Non-recurring transactions: | |||||||||||||||||
| Gain on sale of property held for sale | — | — | (1,020) | — | (749) | ||||||||||||
| Total revenue (non-GAAP) | $ | 45,283 | $ | 45,687 | $ | 44,310 | $ | 43,540 | $ | 42,802 | |||||||
| Efficiency ratio (GAAP) | 70.20 | % | 74.09 | % | 71.25 | % | 71.64 | % | 72.71 | % | |||||||
| Adjusted efficiency ratio (non-GAAP) | 70.20 | % | 72.46 | % | 72.89 | % | 71.64 | % | 73.40 | % | |||||||
15
KEARNY FINANCIAL CORP. | NASDAQ: KRNY Community rooted. Commercially focused. QUARTERLY INVESTOR PRESENTATION 1ST Quarter Fiscal 2027 October 22, 2026 KEARNY FINANCIAL CORP | INVESTOR RELATIONS P E O P L E B U S I N E S S C O M M U N I T Y O P P O R T U N I T Y Exhibit 99.2
KEARNY FINANCIAL CORP. | NASDAQ: KRNY Forward Looking Statements & Non-GAAP Financial Measures This presentation includes certain “forward-looking statements,” which are made in good faith by Kearny Financial Corp. (the “Company”) pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties, such as statements of the Company’s plans, objectives, expectations, estimates and intentions that are subject to change based on various important factors (some of which are beyond the Company’s control). In addition to the factors described under Item 1A. Risk Factors in the Company’s Annual Report on Form 10-K, and subsequent filings with the Securities and Exchange Commission, the following factors, among others, could cause the Company’s financial performance to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements: • the strength of the United States economy in general and the strength of the local economy in which the Company conducts operations, • the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System, inflation, interest rates, market and monetary fluctuations, • the impact of changes in laws, regulations and government policies affecting financial institutions (including taxation, banking, securities, insurance and tariffs), • the current or anticipated impact of military conflict, terrorism or other geopolitical events, • changes in accounting policies and practices, as may be adopted by regulatory agencies, the Financial Accounting Standards Board (“FASB”) or the Public Company Accounting Oversight Board, • technological changes, • competition among financial services providers, and • the success of the Company at managing the risks involved in the foregoing and managing its business. The Company cautions that the foregoing list of important factors is not exhaustive. Readers should not place any undue reliance on any forward- looking statements, which speak only as of the date made. The Company does not undertake any obligation to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company. This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Management uses these “non-GAAP” measures in its analysis of the Company’s performance. Management believes these non-GAAP financial measures allow for better comparability of period-to-period operating performance. Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation of the non-GAAP measures used in this presentation to the most directly comparable GAAP measures is provided at the end of this presentation. 2
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 3 KRNY Investment Thesis A Repositioned Franchise with a Clear Path to Higher Returns 1 Relationship Banking Commercial focus deepens primary relationships, creating deposits, treasury management and cross-sell opportunities. 2 Deposit Growth Experienced commercial and specialty bankers are expanding relationship-based deposits and strengthening the funding franchise. 3 Earnings Power Loan repricing, portfolio remix, retail realignment and efficiency initiatives are building a more scalable earnings model. 4 Capital Strength Strong capital and liquidity provide resilience and flexibility to fund disciplined growth and shareholder returns. 5 Shareholder Returns An attractive dividend provides current income as improving earnings and returns create potential valuation upside. 8.7% QoQ Deposit Growth Annualized 22 Growth in Deposit- focused Bankers over the past year $722M 2027 Maturing + Repricing Multifamily/CRE Loans 13.98% / $2.21B CET1 / Borrowing Capacity 4.80% Dividend Yield Annualized 3Financial information as of September 30, 2026.
KEARNY FINANCIAL CORP. | NASDAQ: KRNY KRNY at a Glance1 NEW JERSEY & NY METRO 4 $5.8B Deposits $7.8B Assets KRNY NASDAQ $0.8B Capital $9.88 TBV per Share $6.0B Loans $594.8M Market Cap 1884 Founded A Strong Community Banking Foundation with a Growing Commercial Focus 40 branches across 12 counties - in NJ and the NY metro area. Top 10 NJ Financial Institution - by Assets & Deposits 1 Financial information as of September 30, 2026. Source: S&P Global Market Intelligence & Company Filings 4
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 5 First Quarter 2027 Performance $10.0M Net Income $0.16 Diluted EPS 2.23% Net Interest Margin Stronger Earnings, Positive Operating Leverage, and Expanding Commercial Capabilities $40.1M Net Interest Income 4.80% Dividend Yield 13.98% CET1 Ratio QUARTER HIGHLIGHTS 01 Earnings Momentum Accelerated Net income reached $10.0 million and PTPP revenue increased 14% to $13.5 million. 02 Disciplined Expense Management Non-interest expense declined 6.1%, reflecting lower costs across several operating categories. 03 Growth Coupled With Continued Loan Remix Loans grew 7.2% annualized while multifamily exposure declined. 04 Deposit Momentum Deposits grew 8.7% annualized, strengthening the funding base and supporting balance-sheet optimization. 05 Commercial Capabilities Expanded Launched a Nonprofit and Independent Education banking team to deepen relationships with mission-driven organizations. Source: Company Filings. 5
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 37,704 37,969 39,236 40,374 40,080 2.10% 2.14% 2.21% 2.26% 2.23% 1Q26 2Q26 3Q26 4Q26 1Q27 Net Interest Income & Net Interest Margin Net Interest Income Net Interest Margin $9,152 $9,449 $9,413 $9,263 $10,044 $11,386 $12,349 $12,011 $12,580 $13,496 $0.15 $0.15 $0.15 $0.15 $0.16 $0.18 $0.20 $0.19 $0.20 $0.21 1Q26 2Q26 3Q26 4Q26 1Q27 Earnings Metrics1 Adjusted net income Adj Pre-tax pre provision net revenue Adjusted earnings per share, diluted Adj. Pre-tax, pre-provision earnings per share Building Earnings Power Through Margin Expansion ($ thousands, except per share data) ($ thousands) Margin Expansion and Positive Operating Leverage Are Translating Into Stronger Core Earnings * 1Q27 NIM reflected lower prepayment income and final COVID-era funding repricing. * 1 See Non-GAAP Financial Information on page 21. Source: Company Filings. 6
KEARNY FINANCIAL CORP. | NASDAQ: KRNY $57.8 $446.7 $101.8 $229.9 $21.7 $275.0 $67.6 $54.0 3.99% 3.80% 4.16% 3.91% 7.23% 7.57% 7.33% 7.56% Remainder 2026 2027 2028 2029 Maturing Repricing Current Rate Repricing Rate (if repriced 10/1/26) Implied Spread 7 1 Opportunity to Drive Margin Expansion ($ millions) Embedded Repricing Provides a Visible Runway for Continued Yield Improvement Chart excludes coupon greater than 6%. Based on a calendar year view. 1 Repricing Rate: Maturing loans assume treasury plus a spread and Repricing loans assume contractual terms. Actual benefit depends on market rates, borrower behavior, credit discipline and replacement opportunities. Source: Company Filings $722M 2027 Maturing + Repricing 7
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 8 Executing on Our Strategy Execution Is Translating Strategy Into Improved Earnings Power 01 Grow Core Deposits Better funding mix | Lower funding costs New commercial and specialty teams accelerate relationship-based deposit growth. 02 Improve Asset Mix Higher yields | Relationship focus Grow C&I, construction and home equity while reducing multifamily exposure. 03 Optimize Retail Delivery Channels Lower costs | Higher productivity Align retail franchise around outside sales and relationship expansion while reducing fixed costs and redeploying capital. 04 Improve Operating Efficiency Efficiency | Operating leverage Automation and AI adoption reduce manual work and creates capacity for growth. FINANCIAL OUTCOMES Higher NIM Operating Leverage Higher ROA / ROTCE 8
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 9 ($ millions) $1,208 $1,180 $1,202 $1,183 $1,199 $759 $757 $757 $757 $755 $751 $770 $763 $767 $731 $2,335 $2,377 $2,376 $2,214 $2,359 $578 $627 $632 $788 $790 $5,632 $5,712 $5,729 $5,710 $5,833 1Q26 2Q26 3Q26 4Q26 1Q27 Retail CDs Wholesale CDs Savings Interest Bearing DDA Non-interest Bearing DDA DIVERSIFIED NON-MATURITY FUNDING MIX 59% Consumer 23% Commercial 18% Government +$123.9M Quarter-over-Quarter Deposit Growth 2.2% linked quarter | 8.7% annualized $5.83B Total Deposits Deposit Growth Is Funding Balance Sheet Expansion1,2 Growing and Diversifying the Deposit Franchise 1 Increases in non-interest-bearing demand deposits during 2Q26 and 4Q26 primarily reflected the migration of a consumer interest-bearing product to a non-interest-bearing product. 2 As of September 30, 2026. Source: Company Filings. 9
KEARNY FINANCIAL CORP. | NASDAQ: KRNY $403 $413 $190 $133 $60 3.25% 3.20% 3.26% 3.20% 2.78% 4Q26 1Q27 2Q27 3Q27 4Q27 & Beyond CD Maturities - Retail & Listing Service (over the next 12 months)1 Retail Deposit Detail RETAIL FRANCHISE SNAPSHOT 2,3 $816M CD maturities through 1Q27 Product # of Accounts Balance Avg. Balance per Account Checking 49,214 $2.44B $49,665 Savings 25,575 $730M $28,537 CDs 20,604 $1.13B $54,689 Retail Funding Provides a Stable Base with Clear Repricing Visibility ($ millions) 1 Quarters are based on a calendar year view. 2 As of September 30, 2026. 3 Excludes brokered and state & local government deposits. Source: Company Filings. 10
KEARNY FINANCIAL CORP. | NASDAQ: KRNY Diversified Loan Portfolio 4.84% QTD Loan Yield 59.5% LTV GROWING: C&I | Construction | CRE DECLINING: Multifamily Disciplined Growth and Portfolio Remix Are Shifting the Balance Sheet ($ millions) +$106.8M Quarter-over-Quarter Loan Growth1 1.8% linked quarter | 7.3% annualized 1 As of September 30, 2026. Excludes yield adjustments. Source: S&P Global Market Intelligence & Company Filings $1,749 $1,731 $1,741 $1,790 $1,811 $57 $62 $64 $82 $154 $2,641 $2,619 $2,555 $2,500 $2,437 $989 $990 $1,012 $1,019 $1,049 $190 $182 $208 $263 $303 $142 $170 $201 $224 $231$5,768 $5,754 $5,781 $5,878 $5,985 1Q26 2Q26 3Q26 4Q26 1Q27 1-4 Family Home Equity & Consumer Multi-family CRE Construction C&I 11
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 12 Multifamily Loan Portfolio Multifamily Exposure Reduced $415M (15%) From Peak PORTFOLIO COMPOSITION1 $2.4B Total Multifamily Outside NYC 56.2% Majority NYC Free Market 38.3% Fully NYC Rent-Regulated 1.9% Majority NYC Rent-Regulated 3.6% 94.5% of the portfolio is outside NYC or majority NYC free market. NYC MULTIFAMILY RISK SNAPSHOT $1.2B NYC Multifamily Portfolio 60.5% Weighted Average LTV 1.64% NPLs / Total MF Loans $307.7M Next 12 Months Maturity & Repricing 1 As of September 30, 2026. Source: Company Filings 12
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 13 CRE Loan Portfolio CRE Exposure Is Diversified Across Collateral Types and Geographic Markets $1.05B Total CRE 53.5% LTV 4.4% 11.3% 14.2% 18.8% 24.2% 27.1% Medical Industrial Office Specialty & Other Retail Mixed Use Collateral Mix1 4.8% 5.5% 7.2% 25.4% 57.1% Pennsylvania Other Brooklyn New York (Ex. Brooklyn) New Jersey Geographic Mix1 1 As of September 30, 2026. Source: Company Filings 13
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 14 $1 $33 $17 $8 $27 $63 2026 2027 2028 2029 2030 2031+ Contractual Maturity Profile1 Office Portfolio Conservative Leverage, Strong Debt Service Coverage and a Diversified Maturity Profile $149M Total Office Exposure 53.1% LTV 1.7x DSCR OFFICE LOAN GEOGRAPHIC DISTRIBUTION1 New Jersey 66.9% NY ex. Manhattan 15.6% Manhattan 14.6% Other 2.9% ($ millions) 1 As of September 30, 2026. Based on a calendar year view. Source: Company Filings. 14
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 0.00 0.50 1.00 1.50 2.00 2.50 3.00 Net Charge-offs to Average Total Loans1 Commercial Banks (not among top 100) KRNY Global Financial Crisis Hurricane Sandy COVID-19 Pandemic 1 Data provided by Federal Reserve Bank of St. Louis. Source: Company Filings. 15 Track Record of Strong Credit Performance 1 Data provided by Federal Reserve Bank of St. Louis. Source: Company Filings. 15
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 16 Conservative Underwriting Culture A Disciplined Credit Lifecycle Supports Consistent Underwriting and Proactive Risk Management 01 UNDERWRITE Conservative at Origination Disciplined LTV and DSCR standards Interest rates stressed at origination DSCR based on in-place rents, not projections Conservative vacancy, expense and full-tax assumptions 02 APPROVE Consistent Governance Authority aggregated by borrower / related borrower group Technology supports consistent underwriting and risk rating Senior Credit Officer, Management Loan Committee and Board Loan Committee approvals 03 MONITOR Independent Review & Stress Testing Semi-annual third-party loan-level stress testing Annual capital-based stress testing Quarterly third-party portfolio review; 65% reviewed annually Annual internal review of commercial loans $2.5M+ 04 ACT Proactive Problem-Credit Management Dedicated portfolio managers and workout specialists Weekly lending, credit and special-assets reviews Early identification of delinquencies and problem credits Timely resolution of impaired assets 16
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 0.84% 0.67% 0.69% 0.70% 0.73% 0.00% 0.50% 1.00% 1.50% 1Q26 2Q26 3Q26 4Q26 1Q27 Non-Performing Assets / Total Assets1 17 * 1Q26 elevation related to one loan subsequently repaid. 0.07% 0.05% 0.04% 0.00% 0.02% 1Q26 2Q26 3Q26 4Q26 1Q27 Net Charge-Offs / Average Loans1 Asset Quality Metrics Low Charge-Offs and Stable Reserve Coverage Reflect Superior Credit Culture $51.2M Non-Performing Loans 0.73% NPAs / Total Assets 0.77% ACL / Loans 0.88% Commercial | 0.55% Consumer * 1 As of September 30, 2026; dollar amounts shown in millions. Source: Company Filings. 17
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 1 As of June 30, 2026. 2 Comprised entirely of securitized federal education loans with 97% U.S. government guarantees. Source: Company Filings. 18 $1,244 $1,192 $1,200 $1,190 $1,175 4.07% 3.91% 3.82% 3.82% 3.91% 1Q26 2Q26 3Q26 4Q26 1Q27 Five Quarter Average Balance & Yield Trend1 Securities Portfolio Yield on Investments ($ millions) Investment Securities $1.18B Average Securities Portfolio 3.91% Yield on Investments 89.9% Available for Sale ~26% Floating Rate Primarily AFS Positioning Preserves Balance Sheet Flexibility Portfolio Composition1 0.0% 0.4% 3.7% 15.7% 23.0% 57.2% U.S. Agency Obligations Municipal Bonds ABS Student Loans Corporate Bonds CLO Agency MBS AFS 89.9% HTM 10.1% 1 As of September 30, 2026. 2 Comprised entirely of securitized federal education loans with 97% U.S. government guarantees. Source: Company Filings. 18
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 19 8.47% 8.56% 8.65% 8.62% 8.37% 9.85% 9.94% 10.03% 9.98% 9.72% 1Q26 2Q26 3Q26 4Q26 1Q27 Tangible Capitalization Trend Tangible Common Equity / Tangible Assets Equity / Assets Capital and Liquidity Capital and Liquidity Provide Resilience and Flexibility1,2,3 9.39% Tier 1 Leverage 5% Well Capitalized Regulatory Minimum 13.98% CET1 6.5% Well Capitalized Regulatory Minimum 13.98% Tier 1 Risk-Based 8% Well Capitalized Regulatory Minimum 14.91% Total Risk-Based 10% Well Capitalized Regulatory Minimum $2.21B Secured Borrowing Capacity Liquidity Coverage Supports Uninsured deposits Strategic Flexibility Supports growth and capital deployment 1 Kearny Financial Corp. (NASDAQ: KRNY) Regulatory Capital Ratios as of September 30, 2026 are preliminary. 2 Well capitalized regulatory minimums are determined at Bank level. 3 As of September 30, 2026 Source: Company Filings. 19
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 20 KRNY 47.4% Index 13.1% -10 10 30 50 70 9/30/2025 10/31/2025 11/28/2025 12/31/2025 1/30/2026 2/27/2026 3/31/2026 4/30/2026 5/29/2026 6/30/2026 7/31/2026 8/31/2026 9/30/2026 KRNY vs KRXTR Bank Index 12 Month Return Comparison (%)1,2 KRNY-Total Return (%) KRXTR Bank Index Return (%) 47.4% KRNY Total Return September 2025 to September 2026 13.1% KRXTR Total Return KRXTR over the same period +34.3 pts Relative Outperformance KRNY less KRXTR OUTPERFORMANCE KRNY exceeded the bank index. MOMENTUM Returns strengthened with improved performance. DIVIDEND Consistent dividends supported total return. KRNY Has Significantly Outperformed the Index 1 From September 30, 2025 through September 30, 2026. 2 Kearny total return includes $0.11 dividend added per quarter. Source: S&P Global Market Intelligence & Company Filings. 20
KEARNY FINANCIAL CORP. | NASDAQ: KRNY 21 Non-GAAP Reconciliation Reconciliation of GAAP to Non-GAAP (Dollars and Shares in Thousands, Except Per Share Data) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Adjusted net income: Net income (GAAP) $10,044 $7,172 $10,137 $9,449 $9,506 Non-recurring transactions - net of tax: Branch consolidation expenses - - - - 178 Severance expense from workforce realignment - 529 - - - Deferred tax asset valuation allowance - 1,562 - - - Gain on sale of property held for sale - - (724) - (532) Adjusted net income $10,044 $9,263 $9,413 $9,449 $9,152 Calculation of pre-tax, pre-provision net revenue: Net income (GAAP) $10,044 $7,172 $10,137 $9,449 $9,506 Adjustments to net income (GAAP): Provision for income taxes $2,622 $3,841 $2,503 $2,333 $2,461 Provision for (Reversal of) credit losses $830 $822 $391 $567 ($82) Pre-tax, pre-provision net revenue (non-GAAP) $13,496 $11,835 $13,031 $12,349 $11,885 Adjustments to pre-tax, pre-provision net revenue (non-GAAP): Branch consolidation expenses $0 $0 $0 $0 $250 Severance expense from workforce realignment $0 $745 $0 $0 $0 Gain on sale of property held for sale $0 $0 ($1,020) $0 ($749) Pre-tax, pre-provision net revenue (non-GAAP) - adjusted $13,496 $12,580 $12,011 $12,349 $11,386 Adjusted earnings per share: Weighted average common shares - basic 63,122 62,958 62,908 62,858 62,741 Weighted average common shares - diluted 63,563 63,403 63,251 63,061 62,951 Earnings per share - basic (GAAP) $0.16 $0.11 $0.16 $0.15 $0.15 Earnings per share - diluted (GAAP) $0.16 $0.11 $0.16 $0.15 $0.15 Adjusted earnings per share - basic (non-GAAP) $0.16 $0.15 $0.15 $0.15 $0.15 Adjusted earnings per share - diluted (non-GAAP) $0.16 $0.15 $0.15 $0.15 $0.15 Pre-tax, pre-provision net revenue per share: Pre-tax, pre-provision net revenue per share - basic (non-GAAP) $0.21 $0.19 $0.21 $0.20 $0.19 Pre-tax, pre-provision net revenue per share - diluted (non-GAAP) $0.21 $0.19 $0.21 $0.20 $0.19 Pre-tax, pre-provision net revenue per share - basic (non-GAAP) - adjusted $0.21 $0.20 $0.19 $0.20 $0.18 Pre-tax, pre-provision net revenue per share - diluted (non-GAAP) - adjusted $0.21 $0.20 $0.19 $0.20 $0.18 Adjusted return on average assets: Total average assets $7,656,632 $7,610,551 $7,547,943 $7,549,411 $7,619,319 Return on average assets (GAAP) 0.52% 0.38% 0.54% 0.50% 0.50% Adjusted return on average assets (non-GAAP) 0.52% 0.49% 0.50% 0.50% 0.48% Adjusted return on average equity: Total average equity $763,425 $762,979 $759,273 $754,918 $745,143 Return on average equity (GAAP) 5.26% 3.76% 5.34% 5.01% 5.10% Adjusted return on average equity (non-GAAP) 5.26% 4.86% 4.96% 5.01% 4.91% For the quarter ended 21