---
schema_version: "secwatch.filing_event.v1"
accession: "0001617242-24-000010"
form_type: "8-K/A"
ticker: "KRNY"
cik: "0001617242"
company_name: "Kearny Financial Corp."
filed_at: "2024-01-31T23:59:59+00:00"
generated_at: "2026-06-06T13:37:10.074045+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Kearny Financial revises Q2 FY2024 net loss to $13.8M ($0.22/share) on BOLI accounting change

## Summary
- Derecognized $4.8M BOLI enhancement fee; now to be recognized prospectively, increasing net loss by $4.8M.
- Net loss of $13.8M ($0.22 diluted EPS); dividend declared at $0.11/share payable Feb 21 to holders of record Feb 7.
- Sold $122.2M AFS securities at $18.1M pre-tax loss; reinvested proceeds into loans yielding ~7.0%.
- Restructured BOLI portfolio: exchanged $103.4M policies from 2.1% to 5.1% yield; incurred $5.7M tax expense.
- NPAs down to $49.8M (0.63% of assets); net charge-offs $4.1M (0.29% annualized); provision for credit losses $2.1M.

## SEC filing metadata
- accession: 0001617242-24-000010
- form_type: 8-K/A
- ticker: KRNY
- cik: 0001617242
- company_name: Kearny Financial Corp.
- filed_at: 2024-01-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1617242/000161724224000010/0001617242-24-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1617242/000161724224000010/krny-20240125.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001617242-24-000010
- JSON: https://secwatch.observer/filing/0001617242-24-000010.json
- Plain text: https://secwatch.observer/filing/0001617242-24-000010.txt

## Key facts
- Earnings Releases
  Kearny Financial Corp. reported the quarter ended December 31, 2023 results: net income net loss of $13.8 million, or $0.22 per diluted share, EPS $0.22 per diluted share.
  - Period: the quarter ended December 31, 2023
  - Net income: net loss of $13.8 million, or $0.22 per diluted share
  - EPS: $0.22 per diluted share
  - Result: preliminary results
  source text: The impact to the Company’s income statement, as a result of this revision, was to increase the Company’s net loss for the quarter ended December 31, 2023 by $4.8 million, resulting in a net loss of $13.8 million, or $0.22 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1617242/000161724224000010/0001617242-24-000010-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.