Kearny Financial · NASDAQ:KRNY
Kearny Financial — Q1 2024 Earnings Presentation
14 slides from Kearny Financial's earnings presentation, Oct 26, 2023
Slide 1: Investor Presentation First Quarter Fiscal 2024
I N V E S T O R P R E S E N TAT I O N FIRST QUARTER FISCAL 2024 O C TO BER 26, 2023
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: $429.2 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 Octo
Slide 4: 139 Years of Serving our Communities and Clients
139 Years of Serving our Communities and Clients 4
Slide 5: 1Q24 Financial Highlights
1Q24 Financial Highlights Net Income Net Interest Income Diluted EPS $9.8 million $39.2 million $0.16 1 Total Assets Total Loans Total Deposits $8.0 billion $5.7 billion $5.4 billion 1Q24 Highlights: Corporate Banking Division Formed – Staffed with seasoned banking professionals whose sole focus is
Slide 6: Equity & Capitalization
Equity & Capitalization Equity Capitalization Level Regulatory Capital Ratios1,2 15.34% 14.57% 14.57% 13.97% 11.09% 10.78% 10.53% 10.37% 10.65% 11.20% 11.47% 9.62% 9.14% 8.61% 8.16% 8.02% 8.35% 8.20% 1Q23 2Q23 3Q23 4Q23 1Q24 Tier 1 Common Equity Tier 1 Risk-Based Total Risk-Based Leverage Tier 1 Cap
Slide 7: Deposits
Deposits Deposit Composition1 Deposit Trend ($ millions) Savings 12.7% Interest Bearing $6,108 $5,971 $5,803 $5,629 DDA $5,434 $683 $651 $618 41.1% $610 $595 QTD Cost $2,382 $2,316 $2,286 $2,253 $2,237 Wholesale CDs of Deposits $983 $902 $811 $749 $689 11.3% 2.23% $797 $747 $761 $640 $613 $1,263 $1,
Slide 8: Liquidity Available for Uninsured Deposits
Liquidity Available for Uninsured Deposits Estimated Uninsured Deposits Analysis2 Liquidity Capacity2 Estimated Uninsured Deposit Analysis ($ millions) Sources of Liquidity Liquidity Funding Available 1 Estimated Uninsured Deposits $ 1,734 ($ millions) Capacity Utilized Capacity Less: Collateralized
Slide 9: Investment Securities
Investment Securities Securities Composition1 AFS/HTM & Effective Duration Securities Average Balance & Yield Trend 1.1% ($ millions) HTM , 4.27% 3.95% 4.10% 10.6% 10.0% 3.43% 2.74% 49.0% 30.2% AFS , 89.4% $1,566 $1,565 $1,576 $1,546 $1,532 9.7% 1Q23 2Q23 3Q23 4Q23 1Q24 Corporate Bonds CLO Total Eff
Slide 10: Portfolio Lending
Portfolio Lending Loan Composition1 Loan Trend Geographic Distribution2 2.6% Other 4.0% ($ millions) 4.4% Pennsylvania $6,001 $5,976 5.8% $5,850 $5,760 29.3% $5,676 16.4% New York $1,017 (Ex. Brooklyn) $1,003 $969 $1,041 $947 16.7% QTD Yield LTV on Loans $2,570 $2,852 $2,836 $2,762 $2,699 Brooklyn 6
Slide 11: CRE Lending
CRE Lending CRE Portfolio by Collateral Type1 CRE Loan Geographic Distribution1 ($ millions) Other $35.2 $358.9 2.6% Medical Retail $15.2 3.7% Pennsylvania 38.0% Specialty & Other 3.9% 1.6% New Jersey 55.6% $142.4 Industrial 15.0% Total CRE WA LTV $0.9 B New York (Ex. 53% Brooklyn) 27.9% $135.7 Offi
Slide 12: Office Portfolio
Office Portfolio Office Portfolio by Contractual Maturity1 Office Loan Geographic Distribution1 ($ millions) ($ millions) $33.2 Manhattan 24.4% $3.1 Other $8.5 2.3% New York (Ex. Manhattan) 6.3% $50 $36 Total Office $20 $135.7 M $17 $2 $6 $5 2023 2024 2025 2026 2027 2028 2029+ $90.9 New Jersey 67.0%
Slide 13: Asset Quality
Asset Quality Net Charge-Offs / Average Loans1 Non-Performing Assets / Total Assets 0.20% 1.25% 0.15% 0.15% 0.98% 1.00% 0.10% 0.03% 0.76% 0.05% 0.01% 0.01% 0.69% 0.69% 0.01% 0.75% 0.64% 0.00% -0.05% 0.50% 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 Non-Performing Loans2 Allowance for Credit Lo
Slide 14: Select Technology Partners
Select Technology Partners 14