Kearny Financial Corp. has reported its financial results for the fourth quarter and fiscal year ending on June 30, 2025. The company's net income for the quarter ended June 30, 2025, was $6.8 million, or $0.11 per diluted share, compared to $6.6 million, or $0.11 per diluted share, for the quarter ended March 31, 2025. For the fiscal year ended June 30, 2025, the company reported net income of $26.1 million, or $0.42 per diluted share, compared to a net loss of $86.7 million, or $1.39 per diluted share, for the fiscal year ended June 30, 2024.
The company also announced a quarterly cash dividend of $0.11 per share, payable on August 26, 2025, to stockholders of record as of August 12, 2025.
Some key highlights for the fourth quarter include a 10-basis point increase in net interest margin to 2.00%, a 23% increase in pre-tax, pre-provision earnings per share to $0.16 per diluted share, and negligible net charge-offs for both the quarter and the fiscal year.
The company's total assets were $7.74 billion at June 30, 2025, representing an increase of $7.3 million from March 31, 2025, and an increase of $57.0 million from June 30, 2024. Loans receivable totaled $5.81 billion at June 30, 2025, showing a decrease of $33.2 million from March 31, 2025, and an increase of $80.2 million from June 30, 2024. Deposits were $5.68 billion at June 30, 2025, demonstrating a decrease of $32.1 million from March 31, 2025, and an increase of $517.1 million from June 30, 2024.
Net interest margin increased by 10 basis points to 2.00% for the quarter ended June 30, 2025, while net interest income increased 5.3% to $35.8 million. Non-interest income for the quarter increased 9.4% to $5.0 million, and non-interest expense increased 1.7% to $30.9 million.
The balance of non-performing assets increased to $45.6 million at June 30, 2025, from $37.7 million at March 31, 2025. Net charge-offs totaled $49,000 for the quarter ended June 30, 2025, compared to $368,000 for the quarter ended March 31, 2025.
The company reported a provision for credit losses of $1.8 million for the quarter ended June 30, 2025, compared to $366,000 for the quarter ended March 31, 2025.
At June 30, 2025, the company's tangible equity to tangible assets ratio equaled 8.27%, and the regulatory capital ratios of both the company and the bank were in excess of the levels required by federal banking regulators to be classified as "well-capitalized" under regulatory guidelines. The market has reacted to these announcements by moving the company's shares -5.28% to a price of $6.195. For the full picture, make sure to review Kearny Financial's 8-K report.
