Kearny Financial sells $122.2M securities, records $12.9M after-tax loss to reposition portfolio

Kearny Financial Corp.

Sold $122.2M of available-for-sale debt securities (yield 3.22%, weighted avg life 8.2 yrs).
After-tax loss of $12.9M fully realized; nominal impact on tangible book value as loss already in AOCI.
Proceeds used to retire higher-cost wholesale funding and reinvest in loans at current market rates.
Transaction immediately accretive to net interest income; reduces balance sheet sensitivity to short-term rates.
Includes liquidation of $78.9M COVID-era securities yielding 1.75% and $37.1M floating-rate securities.

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