Kearny Financial reports Q2 FY2024 net loss of $9.0M; NIM contracts to 1.94%

Kearny Financial Corp.

2024-Q2 EPS reported -$0.06

Net loss of $9.0M ($0.14 diluted EPS) vs net income of $9.8M ($0.16) in prior quarter.
Net interest margin fell 16 bps to 1.94%; net interest income decreased $3.3M to $35.8M.
Non-interest income swung to a loss of $11.2M, driven by $18.1M pre-tax loss on securities repositioning.
Deposits decreased $114.5M (2.1%) to $5.32B; ex-brokered CDs, deposits increased $40.0M (0.8%).
Dividend maintained at $0.11 per share payable Feb 21; book value up $0.19 to $13.23 per share.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Kearny Financial Corp. reported the quarter ended December 31, 2023 results: net income net loss for the quarter ended December 31, 2023 of $9.0 million, EPS $0.14 per diluted share.

Period: the quarter ended December 31, 2023
Net income: net loss for the quarter ended December 31, 2023 of $9.0 million
EPS: $0.14 per diluted share
Result: reported results

Exact text from the filing

Kearny Financial Corp. (NASDAQ GS: KRNY) (the “Company”), the holding company of Kearny Bank (the “Bank”), reported a net loss for the quarter ended December 31, 2023 of $9.0 million, or $0.14 per diluted share, compared to net income of $9.8 million, or $0.16 per diluted share, for the quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0001617242-24-000006

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