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Dec 31, 2020
Kearny Financial Q2 2021 Earnings Report
Reported strong fiscal second quarter results driven by cost of funds reductions, expense control, and operational efficiencies from the MSB acquisition.
Key Takeaways
Kearny Financial Corp. reported net income of $16.9 million, or $0.20 per diluted share, for the quarter ended December 31, 2020, compared to $11.4 million, or $0.13 per diluted share, for the quarter ended September 30, 2020.
Net income for the quarter ended December 31, 2020 was $16.9 million, or $0.20 per diluted share.
Deposits increased by $272.7 million to $5.31 billion at December 31, 2020 from $5.04 billion at September 30, 2020.
Loans receivable decreased by $126.1 million to $4.83 billion at December 31, 2020 from $4.95 billion at September 30, 2020.
The Company recorded a credit loss provision reversal of $1.4 million for the quarter ended December 31, 2020 compared to a credit loss provision of $4.1 million for the quarter ended September 30, 2020.