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Sep 30, 2023
Kearny Financial Q1 2024 Earnings Report
Kearny Financial's net income decreased due to industry-wide macro-economic headwinds, balance sheet deleveraged, net interest margin compression slowed, and high-value loan and deposit relationships built.
Key Takeaways
Kearny Financial Corp. reported a decrease in net income for the quarter ended September 30, 2023, with $9.8 million, or $0.16 per diluted share, compared to $12.0 million, or $0.19 per diluted share, for the quarter ended June 30, 2023. The company declared a quarterly cash dividend of $0.11 per share.
Balance sheet de-leveraged by an additional $90 million.
Net interest margin compression meaningfully slowed.
Focus on building high-value loan and deposit relationships.
Launched enhanced digital banking platform to expand online and mobile capabilities.
Kearny Financial
Kearny Financial
Forward Guidance
No specific forward guidance provided in the document.