| Parent Only Financial Information |
Parent Only Financial Information Kearny Financial Corp. operates its wholly owned subsidiary Kearny Bank and the Bank’s wholly-owned subsidiaries CJB Investment Company, 189-245 Berdan Avenue LLC and Kearny Wealth Management LLC. The consolidated earnings of the subsidiaries are recognized by the Company using the equity method of accounting. Accordingly, the consolidated earnings of the subsidiaries are recorded as increases in the Company’s investment in the subsidiaries. The following are the condensed financial statements for Kearny Financial Corp. (Parent Company only) as of June 30, 2025 and 2024, and for each of the years in the three-year period ended June 30, 2025. Condensed Statements of Financial Condition | | | | | | | | | | | | | June 30, | | 2025 | | 2024 | | (In Thousands) | | Assets | | | | | | | | | Cash and amounts due from depository institutions | $ | 20,773 | | | $ | 30,821 | | | | | | | Loans receivable | 22,573 | | | 24,510 | | | Investment in subsidiary | 702,607 | | | 698,427 | | | Other assets | 670 | | | 854 | | | Total Assets | $ | 746,623 | | | $ | 754,612 | | | | | | | Liabilities and Stockholders' Equity | | | | | | | | | Other liabilities | $ | 661 | | | $ | 1,041 | | | Stockholders' equity | 745,962 | | | 753,571 | | | Total Liabilities and Stockholders' Equity | $ | 746,623 | | | $ | 754,612 | |
Condensed Statements of Income (Loss) and Comprehensive Income (Loss) | | | | | | | | | | | | | | | | | | | Years Ended June 30, | | 2025 | | 2024 | | 2023 | | (In Thousands) | | Dividends from subsidiary | $ | 16,758 | | | $ | 19,332 | | | $ | 26,282 | | | Interest income | 1,666 | | | 2,201 | | | 1,749 | | | Equity in undistributed earnings of subsidiaries | 9,846 | | | (105,948) | | | 14,912 | | | Total income | 28,270 | | | (84,415) | | | 42,943 | | | | | | | | | Directors' compensation | 584 | | | 618 | | | 532 | | | Other expenses | 1,714 | | | 1,647 | | | 1,715 | | | Total expense | 2,298 | | | 2,265 | | | 2,247 | | | Income (loss) before income taxes | 25,972 | | | (86,680) | | | 40,696 | | | Income tax expense | (103) | | | (13) | | | (115) | | | Net income (loss) | $ | 26,075 | | | $ | (86,667) | | | $ | 40,811 | | | Comprehensive income (loss) | $ | 17,234 | | | $ | (80,374) | | | $ | 27,082 | |
Condensed Statements of Cash Flows | | | | | | | | | | | | | | | | | | | Years Ended June 30, | | 2025 | | 2024 | | 2023 | | (In Thousands) | | Cash Flows from Operating Activities: | | | | | | | Net income | $ | 26,075 | | | $ | (86,667) | | | $ | 40,811 | | | Adjustment to reconcile net income to net cash provided by operating activities: | | | | | | | Equity in undistributed earnings of subsidiaries | (9,846) | | | 105,948 | | | (14,912) | | | Decrease (increase) in other assets | 184 | | | (27) | | | (379) | | | (Decrease) increase in other liabilities | (402) | | | 142 | | | 271 | | | Net Cash Provided by Operating Activities | 16,011 | | | 19,396 | | | 25,791 | | | | | | | | | Cash Flows from Investing Activities: | | | | | | | Repayment of loan to ESOP | 1,937 | | | 1,874 | | | 1,817 | | | | | | | | | | | | | | | | | | | | | Net Cash Provided by Investing Activities | 1,937 | | | 1,874 | | | 1,817 | | | | | | | | | Cash Flows from Financing Activities: | | | | | | | | | | | | | Cash dividends paid | (27,634) | | | (27,564) | | | (28,499) | | | Repurchase and cancellation of common stock of Kearny Financial Corp. | — | | | (11,240) | | | (27,558) | | | Cancellation of shares repurchased on vesting to pay taxes | (362) | | | (484) | | | (462) | | | Net Cash Used In Financing Activities | (27,996) | | | (39,288) | | | (56,519) | | | Net (Decrease) Increase in Cash and Cash Equivalents | (10,048) | | | (18,018) | | | (28,911) | | | Cash and Cash Equivalents - Beginning | 30,821 | | | 48,839 | | | 77,750 | | | Cash and Cash Equivalents - Ending | $ | 20,773 | | | $ | 30,821 | | | $ | 48,839 | |
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