Kearny Financial Corp.

General Kearny Financial Corp.

Nature of the company

• Maryland corporation and holding company for Kearny Bank (the Bank).
• Kearny Bank is a New Jersey-chartered savings bank and is a nonmember.
• KCFC is a unitary savings and loan holding company regulated by the Federal Reserve. The Bank’s deposits are federally insured by the FDIC and the Bank is primarily regulated by the New Jersey Department of Banking and Insurance (NJDBI) and the FDIC.
• The Company’s primary business is the ownership and operation of Kearny Bank.

Website

• www.kearnybank.com

Business model

Core banking activities

• Attracts deposits from the public and uses those funds to originate or purchase loans for its portfolio and for sale into the secondary market.
• Loan portfolio composition:
  • Multi-family mortgage loans
  • Nonresidential mortgage loans
  • Commercial and industrial (C&I) loans
  • Construction loans
  • One- to four-family residential mortgage loans
  • Home equity loans
  • Other consumer loans
• Maintains a securities portfolio including U.S. agency mortgage-backed securities, state/local government obligations, corporate bonds, asset-backed securities, and collateralized loan obligations.

Mortgage banking

• Operates a mortgage banking platform to originate one- to four-family mortgage loans for sale into the secondary market (primarily to Freddie Mac).
• $932,000 gains on the sale of $128.2 million of mortgage loans held for sale for the year ended June 30, 2026; about $6.0 million of additional loans held/committed for sale as of that date.

Technology and risk management

• Invests in digital banking, treasury management, data analytics, AI, and process automation to improve client experience and efficiency.
• Maintains a formal risk management framework, including an internal loan review function, independent audit and compliance reviews, and a dedicated risk and Information Security program with governance.

People and culture

• Emphasizes relationship-based banking, local decision-making, and community focus.
• Provides formal training, compensation, and benefits programs, including an ESOP and 401(k).

Geography and market footprint

• Operations concentrated in New Jersey and New York.
• Market area (as of June 30, 2026):
  • New Jersey: Bergen, Essex, Hudson, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Union counties
  • New York: Kings (Brooklyn) and Richmond (Staten Island) counties
• Lending emphasis on New Jersey and New York properties; deposits largely from local communities and nearby areas.

Branches

• 40 branch offices as of June 30, 2026.
• Branch network spans the above New Jersey and New York counties.
• 18 branches were leased with remaining terms of 9 months to 7 years.
• Completed consolidation of three branches during fiscal 2026.

Financial snapshot (as of and for the year ended June 30, 2026)

Assets and profitability

• Total assets: approximately $7.7 billion (derived from investment securities totaling $1.071 billion representing about 13.9% of total assets).
• Total loans (gross): $5,878,562 thousand
• Total loans (net): $5,829,829 thousand
• Allowance for credit losses (ACL) on loans: $45,496 thousand
• Net charge-offs (annualized): 0.04% for year ended 2026 (0.02% in 2025)

Loan portfolio composition (June 30, 2026)

• Multi-family mortgage: $2,499,894 thousand (42.52%)
• Nonresidential mortgage: $1,019,445 thousand (17.34%)
• Commercial and industrial: $223,927 thousand (3.81%)
• Construction: $263,200 thousand (4.48%)
• One- to four-family residential mortgage: $1,789,865 thousand (30.45%)
• Home equity loans: $79,844 thousand (1.36%)
• Other consumer: $2,387 thousand (0.04%)
• Commercial mortgage loans total: $3,782,539 thousand (58% of total commercial mortgage loans)

Real estate loan collateral and risk profile

• Loan-to-value (LTV) indicators (selected):
  • Multi-family mortgage: 61%
  • Nonresidential mortgage: 52%
  • Construction: 57%
  • One- to four-family residential mortgage: 62%
  • Home equity loans: 47%

Deposits and funding (average balances for year ended June 30, 2026)

• Total average deposits: $5,674,355 thousand
• Deposit mix (average):
  • Non-interest-bearing deposits: $649,262 thousand (11.44%)
  • Interest-bearing demand: $2,334,641 thousand (41.14%)
  • Savings: $758,820 thousand (13.37%)
  • Certificates of deposit: $1,931,632 thousand (34.04%)
• Public funds deposits: $638.8 million (11.2% of total deposits)
• Brokered certificates of deposit: $757.2 million (13.3% of total deposits)
• Certificates maturing within one year totaled $1.87 billion at year-end 2026.

Funding and liquidity metrics

• Wholesale funding (deposits + borrowings): about $1.9 billion, roughly 24.8% of total assets.
• FHLB advances outstanding: $950.0 million (weighted average rate 3.85% as of 6/30/2026); $1.106 billion outstanding at 6/30/2025 excluding a small fair value adjustment.
• Capacity to borrow additional funds from the FHLB and other sources, including FRB unsecured lines.

Securities portfolio (carrying values)

• Total securities: $1,071,183 thousand
• Available-for-sale: $964,369 thousand (93% of total securities)
• Held-to-maturity: $106,814 thousand
• Major components of the available-for-sale portfolio:
  • Mortgage-backed securities: $540,479 thousand (including residential and commercial pass-throughs)
  • Collateralized loan obligations (CLOs): $233,659 thousand
  • Corporate bonds: $152,169 thousand
  • Asset-backed securities: $38,062 thousand
  • State and political subdivisions: $0 (none as of 6/30/2026)
• Unrealized losses on available-for-sale securities are recorded in accumulated other comprehensive income.

Derivatives and hedging

• Total notional amount of interest rate derivatives (swaps, caps, floors): $2.88 billion, used to hedge exposure related to wholesale funding positions and assets.

Goodwill and subsidiaries

• Goodwill: $113.5 million (as of 6/30/2026)
• Subsidiaries: CJB Investment Company; 189-245 Berdan Avenue LLC; Kearny Wealth Management LLC (formed February 2024 for insurance brokerage services).

Operations and capital governance

• Branch network consolidation occurred in fiscal 2026.
• Information Security governance established in 2025 with quarterly reporting to a Board-level Information Security Committee.
• Loans to one borrower limit: approximately $107.4 million as of 6/30/2026 (New Jersey law limits exposure to a single borrower).
• Mortgage-backed securities and CLOs described with agency ratings where applicable.

Notable identifiers

• Official name: General Kearny Financial Corp.; parent for Kearny Bank.
• Regulatory and capital posture (as of 6/30/2026): exceeded all regulatory capital requirements; did not opt into the community bank leverage ratio framework.
• Risk factors discussed in the Form 10-K include interest-rate risk, credit risk in CRE/LTV concentrations, liquidity risk, cyber risk, and regulatory change risk.

If you’d like, I can extract the key figures into a compact table or assemble a one-page executive snapshot with assets, loans, deposits, branch count, funding mix, and major asset classes.