Kearny Financial · NASDAQ:KRNY
Kearny Financial — Q2 2024 Earnings Presentation
12 slides from Kearny Financial's earnings presentation, Jan 25, 2024
Slide 1: Investor Presentation Second Quarter Fiscal 2024
I N V E S T O R P R E S E N TAT I O N SECOND QUARTER FISCAL 2024 J ANUAR Y 25, 2024
Slide 2: Forward Looking Statements & Financial Measures
Forward Looking Statements & Financial Measures 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-l
Slide 3: Kearny Financial Corp.
Kearny Financial Corp. NASDAQ: KRNY Market Cap: $531.7 million1 Founded in 1884 Top 10 New Jersey-based financial institution by assets 43 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 Janu
Slide 4: 140 Years of Serving our Communities and Clients
140 Years of Serving our Communities and Clients 4
Slide 5: 2Q24 Financial Highlights
2Q24 Financial Highlights Net Loss Net Interest Income Diluted EPS -$9.0 million $35.8 million -$0.14 Total Assets Total Loans1 Total Deposits $7.9 billion $5.7 billion $5.3 billion Strategic Actions Taken During the Quarter: Investment Securities Repositioning - Sold $122.2 million of available-for
Slide 6: Equity & Capitalization
Equity & Capitalization Equity Capitalization Level Regulatory Capital Ratios1,2 15.25% 14.50% 14.50% 14.04% 10.53% 10.37% 10.78% 10.65% 10.79% 11.31% 11.60% 9.62% 8.95% 8.16% 8.02% 8.35% 8.20% 8.32% 2Q23 3Q23 4Q23 1Q24 2Q24 Tier 1 Common Equity Tier 1 Risk-Based Total Risk-Based Leverage Tier 1 Cap
Slide 7: Deposits
Deposits Deposit Composition1 Deposit Trend ($ millions) Savings Interest Bearing $5,971 $5,803 $5,629 $5,434 DDA $5,320 12.1% $651 $618 44.2% $610 $595 $584 $2,316 $2,286 $2,253 QTD Cost $2,237 $2,348 of Deposits Wholesale CDs $902 $811 $749 2.53% $689 $646 8.6% $747 $761 $640 $613 $458 $1,355 $1,3
Slide 8: Liquidity Available for Uninsured Deposits
Liquidity Available for Uninsured Deposits Estimated Uninsured Deposits Analysis2 Liquidity Capacity2 Estimated Uninsured Deposit Analysis ($ millions) Sources of Liquidity Liquidity Funding Available 1 Estimated Uninsured Deposits $ 1,813 ($ millions) Capacity Utilized Capacity Less: Collateralized
Slide 9: Investment Securities
Investment Securities Securities Composition1 AFS/HTM & Effective Duration Securities Average Balance & Yield Trend ($ millions) Municipal Bonds 1.2% Corporate Bonds 4.27% 4.42% HTM , 3.95% 4.10% 10.3% 3.43% 11.0% QTD Yield Agency on Securities MBS 4.42% AFS , CLO 48.4% 89.0% $1,565 $1,576 32.9% $1,
Slide 10: Portfolio Lending
Portfolio Lending Loan Composition1 Loan Trend Geographic Distribution2 C&I Other Construction ($ millions) 2.5% 4.7% 3.9% Pennsylvania $6,001 $5,976 $5,850 5.7% $5,760 $5,757 CRE 1-4 Family New York 16.4% 30.3% $1,017 $1,003 (Ex. Brooklyn) $969 $947 $947 16.8% QTD Yield LTV $2,852 $2,836 $2,762 $2,
Slide 11: CRE Lending
CRE Lending CRE Portfolio by Collateral Type1 CRE Loan Geographic Distribution1 Medical Other Retail 3.6% 2.6% 36.6% Specialty & Other Pennsylvania 2.1% 3.8% New Jersey 56.1% Industrial 14.8% Total CRE $0.9 B New York (Ex. Brooklyn) 27.6% Office 15.8% Mixed Use 27.1% Brooklyn 9.9% 1 As of December 3
Slide 12: Asset Quality
Asset Quality Net Charge-Offs / Average Loans Non-Performing Assets / Total Assets 0.35% 1.00% Increase driven by a 0.29% single commercial real 0.25% 0.76% estate credit relationship 0.69% 0.69% 0.15% 0.75% 0.64% 0.63% 0.15% 0.03% 0.50% 0.05% 0.01% 0.01% -0.05% 0.25% 2Q23 3Q23 4Q23 1Q24 2Q24 2Q23 3