Kearny Financial posts $90.1M GAAP net loss due to $95.3M goodwill impairment; adjusted EPS $0.09 vs $0.12 QoQ

Kearny Financial Corp.

2024-FY EPS reported -$1.39

GAAP net loss of $90.1M ($1.45 diluted EPS) for Q4 ended June 30, 2024, driven by $95.3M non-cash goodwill impairment.
Adjusted net income fell to $5.6M ($0.09 EPS) from $7.4M ($0.12) prior quarter; FY adjusted net income $28.2M ($0.45) vs $50.6M ($0.78) previous year.
Net interest margin contracted 5 bps to 1.84%; net interest income decreased $1.0M to $33.3M.
Quarterly dividend declared at $0.11 per share (unchanged), payable Aug 26, 2024 to holders of record Aug 12, 2024.
Net charge-offs were $3.5M (0.25% annualized) primarily from a $3.3M C&I loan; non-performing assets at $39.9M (0.52% of assets).

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