Kearny Financial Corp. reported its financial results for the quarter ending September 30, 2025, revealing a net income of $9.5 million, or $0.15 per diluted share, compared to $6.1 million, or $0.10 per diluted share, for the same period in 2024. This increase in profitability was primarily driven by a rise in net interest income, which increased by $5.3 million to $37.7 million, despite a slight decline in total interest income. The company’s total interest income for the quarter was $82.5 million, down from $83.3 million in the previous year, while total interest expense decreased significantly from $50.8 million to $44.8 million, reflecting a favorable shift in the interest rate environment.
Total assets for Kearny Financial decreased by $92.4 million to $7.65 billion as of September 30, 2025, down from $7.74 billion at the end of June 2025. This decline was attributed to decreases in cash and cash equivalents, as well as net loans receivable, which fell by $44.4 million to $5.72 billion. The company’s loan portfolio saw a notable reduction in multi-family mortgages, which decreased by $68.9 million, while one-to-four family residential mortgages saw a slight increase of $771,000. The allowance for credit losses also decreased from $46.2 million to $45.1 million, reflecting a reversal of credit losses during the quarter.
In terms of operational metrics, Kearny Financial's total deposits decreased by $43.3 million to $5.63 billion, driven by declines in interest-bearing demand deposits and certificates of deposits. The company reported a total of $1.21 billion in retail time deposits and $759.2 million in brokered time deposits. Additionally, the bank's borrowings decreased by $50 million to $1.21 billion, primarily due to reductions in Federal Home Loan Bank advances. The company maintained a strong liquidity position, with available secured borrowing capacity totaling $2.54 billion.
Strategically, Kearny Financial has focused on enhancing its operational efficiency and expanding its product offerings. The company reported an increase in non-interest income to $5.8 million, up from $4.6 million in the prior year, driven by higher fees and service charges and a non-recurring gain from the sale of property. The bank's employee headcount has also seen a slight increase, reflecting ongoing investments in talent to support its growth initiatives. Looking ahead, Kearny Financial remains optimistic about its ability to navigate market conditions and capitalize on growth opportunities, while maintaining a focus on risk management and operational excellence.
About Kearny Financial Corp.
Kearny Financial Corp. is a Maryland-based holding company for Kearny Bank, a community bank serving New Jersey and New York. It offers retail and commercial banking services, including deposit products, mortgage and consumer loans, and investment securities. The bank emphasizes relationship banking, diversified loan portfolios, digital banking, and strong capital and liquidity positions to serve small and mid-sized businesses and local communities.
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