Kearny Financial · NASDAQ:KRNY
Kearny Financial — Q3 2023 Earnings Presentation
13 slides from Kearny Financial's earnings presentation, Apr 27, 2023
Slide 1: Investor Presentation Third Quarter Fiscal 2023
I N V E S T O R P R E S E N TAT I O N THIRD QUARTER FISCAL 2023 APR I L 27, 202 3
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may include certain “forward-looking statements,” which are made in good faith by Kearny Financial Corp. (the “Company”) pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are
Slide 3: Kearny Financial Corp.
Kearny Financial Corp. NASDAQ: KRNY Market Cap: $512.1 million1 Founded in 1884 Top 10 New Jersey-based financial institution by assets 45 full-service branches2 in 12 counties throughout New Jersey and New York City Active acquirer, having completed 7 whole-bank acquisitions since 1999 1 As of Apri
Slide 4: 139 Years of Serving our Communities and Clients
139 Years of Serving our Communities and Clients 4
Slide 5: Financial Highlights
Financial Highlights GAAP Reported Profitability and Performance Ratios 3Q23 2Q23 3Q22 ($ in millions, except per share data) Net Income $10.3 $2.0 $17.7 Earnings per share $0.16 $0.03 $0.25 Net Interest Income $42.4 $44.8 $47.7 Net Interest Margin 2.20% 2.38% 2.89% Return on Average Assets 0.50% 0.
Slide 6: Equity & Capitalization
Equity & Capitalization Equity Capitalization Level Regulatory Capital Ratios1,2 14.02% 14.00% 13.37% 13.37% 11.20% 11.47% 12.93% 11.58% 11.09% 9.57% 10.53% 10.37% 8.96% 10.33% 9.06% 8.61% 8.16% 8.02% 3Q22 4Q22 1Q23 2Q23 3Q23 Tier 1 Common Equity Tier 1 Risk-Based Total Risk-Based Leverage Tier 1 Ca
Slide 7: Deposits
Deposits Deposit Composition1 Deposit Trend $5,862 $6,108 $5,971 Savings Interest $5,803 $5,529 14.0% Bearing DDA $654 $683 $651 $618 $622 39.4% $2,266 $2,382 $2,316 $2,286 $2,155 QTD Cost Wholesale CDs of Deposits $1,053 $983 $902 $811 13.1% $1,089 1.68% $797 $747 $761 $541 $773 $1,122 $1,116 $1,26
Slide 8: Liquidity Available for Uninsured Deposits
Liquidity Available for Uninsured Deposits Estimated Uninsured Deposits Analysis2 Liquidity Capacity2 Estimated Uninsured Deposit Analysis ($ millions) Sources of Liquidity Liquidity Funding Available 1 Estimated Uninsured Deposits $ 1,678 ($ millions) Capacity Utilized Capacity Less: Collateralized
Slide 9: Investment Securities
Investment Securities Securities Composition1 AFS/HTM & Effective Duration Securities Balance & Yield Trend ($ millions) 1.2% 3.95% HTM 3.43% 10.0% 10.6% 2.74% 1.99% 2.22% 27.0% 51.7% AFS 89.4% $1,648 10.1% $1,462 $1,379 $1,440 $1,417 Corporate Bonds CLO ABS Student Loans 2 Agency MBS Total Effectiv
Slide 10: Portfolio Lending
Portfolio Lending Loan Composition1 Loan Growth Geographic Distribution2 ($ millions) Commercial Other Construction 2.7% 4.3% $6,001 $5,976 Pennsylvania 3.6% $5,676 5.4% $5,437 $5,025 $1,017 $1,003 New York $1,041 (Ex. Brooklyn) CRE 1-4 Family $1,020 17.2% 28.7% $1,086 16.8% QTD Yield $2,570 $2,852
Slide 11: CRE Lending
CRE Lending CRE Portfolio by Collateral Type1 CRE Loan Distribution1 Other Specialty & Other 2.4% 4.5% Retail Pennsylvania 37.9% 4.1% New Jersey Industrial 56.0% 14.5% Total CRE WA LTV $1.0 B 54% New York (Ex. Brooklyn) Office 27.6% Mixed Use 16.3% 26.8% Brooklyn 9.9% Office Portfolio Profile 16.3%
Slide 12: Asset Quality
Asset Quality Net Charge-Offs / Average Loans Non-Performing Assets / Total Assets 0.10% 1.40% 1.19% 0.04% 0.08% 1.20% 1.10% 0.05% 0.03% 0.98% 0.01% 0.01% 1.00% 0.00% 0.76% 0.80% 0.69% -0.05% 0.60% 3Q22 4Q22 1Q23 2Q23 3Q23 3Q22 4Q22 1Q23 2Q23 3Q23 Non-Performing Loans1 Allowance for Credit Losses ($
Slide 13: Select Technology Partners
Select Technology Partners 13