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Mar 31, 2022
Kearny Financial Q3 2022 Earnings Report
Reported net income of $17.7 million for the quarter ended March 31, 2022.
Key Takeaways
Kearny Financial Corp. reported a net income of $17.7 million, or $0.25 per diluted share, for the quarter ended March 31, 2022. Total loans increased by $176.8 million, and core non-maturity deposits increased by $66.2 million.
Net income for the quarter ended March 31, 2022 was $17.7 million, or $0.25 per diluted share.
Loans receivable increased $176.8 million to $5.00 billion at March 31, 2022.
Deposits increased $74.6 million to $5.53 billion at March 31, 2022.
The Board of Directors declared a quarterly cash dividend of $0.11 per share.
Kearny Financial
Kearny Financial
Forward Guidance
The Company remains steadfast in the execution of its strategic plan, with its focus on the continued growth of long-term shareholder value.
Positive Outlook
- Ongoing strength of the commercial loan pipeline, which totaled $1.5 billion at quarter end.
- Core business prospects remain strong.
- Markets are ripe with opportunity.
- Focus on the continued growth of long-term shareholder value.
- Execution of strategic plan.
Challenges Ahead
- Intermediate and long-term interest rates increased at a rapid pace.
- Inflation risks.
- Supply chain risks.
- Geopolitical risks.
- U.S. economic outlook faces shadow.