secwatch.observer — SEC 8-K summary
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Issuer:     Kearny Financial Corp. (KRNY)
CIK:        0001617242
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001617242-24-000045
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1617242/000161724224000045/0001617242-24-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1617242/000161724224000045/krny-20240725.htm
  HTML page:      https://secwatch.observer/filing/0001617242-24-000045

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