Kearny Financial reports Q2 adjusted EPS 11c vs 17c last year

Total assets were $7.90 billion at December 31, 2023, a decrease of $72.2 million, or 0.9%, from September 30, 2023. For the quarter ended December 31, 2023, book value per share increased $0.19, or 1.5%, to $13.23 while tangible book value per share increased $0.16, or 1.6%, to $9.93. These increases were largely driven by a decrease in accumulated other comprehensive loss. Craig Montanaro, President and Chief Executive Officer, commented, “This quarter we executed strategies, as described in further detail below, to enhance our balance sheet, liquidity position, risk profile and asset quality metrics. In addition, we have begun to see deposit pressures ease, while run-rate non-interest expense remains very well controlled. As we look ahead, we remain laser-focused on sustainable growth in core loan and deposit relationships, while continuing to further leverage our recently implemented, best-in-class, digital banking platform.”