Kearny Financial · NASDAQ:KRNY
Kearny Financial — Q4 FY2025 Earnings Presentation
22 slides from Kearny Financial's earnings presentation, Jul 24, 2025
Slide 1: Investor Presentation Fourth Quarter Fiscal 2025
July 24, 2025 I N V E S T O R P R E S E N T A T I O N F O U R T H Q U A R T E R F I S C A L 2 0 2 5 Exhibit 99.2
Slide 2: Forward Looking Statements & Financial Measures
Forward Looking Statements & Financial Measures 2 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
Slide 3: Company Overview
Kearny Financial Corp. Company Overview NASDAQ: KRNY Founded: 1884 Assets: $7.7 billion Loans $5.8 billion Deposits $5.7 billion TBV Per Share: $9.77 Market Cap: $417.2 million1 1 As of June 30, 2024 2 As of June 30, 2024 Source: S&P Global Market Intelligence & Company Filings 3 Branch/Office Footp
Slide 4: 141 Years: Franchise Milestones
4 Founded Kearny, NJ 1884 Obtained Federal Charter 1941 South Bergen Savings Bank Acquired 1999 Pulaski Bancorp Acquired 2003 West Essex Bank Acquired 2004 Completed First-Step Mutual Conversion & IPO of $218.2M 2005 Central Jersey Bancorp Acquired 2011 Atlas Bank Acquired 2014 Formed the KearnyBank
Slide 5: 4Q25 Financial Highlights
4Q25 Financial Highlights 1 GAAP to Adjusted reconciliation on page 22. No adjustments for this quarter. 2 Excludes Yield Adjustments. Source: Company Filings. 5 Net Income GAAP Adjusted1 $6.8 million $6.8 million Basic/Diluted EPS GAAP Adjusted1 $0.11 $0.11 Net Interest Income CET-1 Ratio $35.8 mil
Slide 6: Sustained Earnings Growth and Margin Expansion
Sustained Earnings Growth and Margin Expansion Net Interest Income & Net Interest Margin 6 Earnings Metrics 2 $32,446 $32,612 $34,042 $35,843 1.80% 1.82% 1.90% 2.00% 1Q25 2Q25 3Q25 4Q25 Net Interest Income Net Interest Margin $6,092 $6,566 $6,648 $6,769 $7,286 $7,924 $8,214 $9,941 $0.10 $0.10 $0.11
Slide 7: Capital Strength
Capital Strength Equity Capitalization Level 1 Kearny Financial Corp. (NASDAQ: KRNY) Regulatory Capital Ratios as of June 30, 2025 are preliminary. 2 Well capitalized regulatory minimums are determined at Bank level. Source: Company Filings. 7 Regulatory Capital Ratios1,2 8.43% 8.31% 8.27% 8.31% 8.2
Slide 8: Track Record of Strong Credit Performance
Track Record of Strong Credit Performance 1 Data provided by Federal Reserve Bank of St. Louis. Source: Company Filings. 8 Net Charge-offs to Average Total Loans Between 2006 and 2025, including the periods of the Global Financial Crisis and the COVID-19 Pandemic, KRNY maintained an average annual n
Slide 9: Diversified Loan Portfolio
Diversified Loan Portfolio Loan Composition1 Geographic Distribution1 Loan Trend 1 As of June 30, 2025. Source: S&P Global Market Intelligence & Company Filings. 9 ($ millions) 1-4 Family 30.1% Home Equity 0.9% Multi-family 46.6% CRE 17.0% Construction 3.1% C&I 2.4% QTD Yield on Loans 4.56% LTV 60.4
Slide 10: Opportunity to Drive Margin Expansion
Opportunity to Drive Margin Expansion 10 Multifamily / CRE Loan Repricing Opportunity1 Loan Repricing: CRE loan portfolio reprices based on the 5-Year Treasury rate plus a spread or contractual terms. Projected Interest Income Growth: Assuming replacement into similar loan type, repricing through 20
Slide 11: Multifamily Loan Portfolio
Multifamily Loan Portfolio Multifamily Loan Portfolio Composition1 New York City (“NYC”) Multifamily1 Source: Company Filings 1 As of June 30, 2025. 11 Observations $ in millions NYC Multifamily Loan Portfolio by Location Outstanding Asset Quality: Exceptional asset quality across multiple credit cy
Slide 12: CRE Loan Detail
CRE Loan Detail Source: Company Filings. 1 As of June 30, 2025. 12 CRE Portfolio by Collateral Type1 CRE Loan Geographic Distribution1 Retail 28.9% Mixed Use 24.8% Office 13.4% Industrial 18.5% Specialty & Other 10.4% Medical 4.0% Total CRE $987M New Jersey 55.8% Brooklyn 9.2% New York (Ex. Brooklyn
Slide 13: Office Portfolio
Office Portfolio 1 As of June 30, 2025. Source: Company Filings. 13 Office Portfolio by Contractual Maturity1 13.4% of total CRE portfolio or $132 million Average loan size of $1.9 million ($ millions) Office Loan Geographic Distribution1 LTV 49.6% DSCR 1.8x Manhattan 17.1% New York (Excl. Manhattan
Slide 14: Asset Quality Metrics
Asset Quality Metrics Non-Performing Assets / Total Assets 1 As of June 30, 2025; amounts shown in millions. Source: Company Filings. 14 Net Charge-Offs / Average Loans 0.52% 0.51% 0.49% 0.49% 0.59% 4Q24 1Q25 2Q25 3Q25 4Q25 Multi-family $30.9 CRE $5.8 C&I $2.2 1-4 Family $6.6 Home Equity $0.2 NPL’s
Slide 15: Asset Quality Metrics: Allowance for Credit Losses
Asset Quality Metrics Allowance for Credit Losses 1 As of June 30, 2025. 2 Commercial includes Multifamily, CRE, C&I and Construction loans. Consumer includes Residential and Home Equity Loans. Source: Company Filings. 15 ACL by Loan Segment1 ($ millions) $44.9 $44.9 $44.5 $44.5 $46.2 0.78% 0.78% 0.
Slide 16: Granular Deposit Franchise
Granular Deposit Franchise 1 As of June 30, 2025. Source: Company Filings. 16 Non-Maturity Deposit Mix1 ($ millions) 21.5% 13.4% 13.3% 41.6% 10.3% Deposit Composition Deposit Growth $1,199 $1,216 $1,214 $1,218 $1,219 $408 $733 $733 $733 $758 $643 $682 $742 $758 $754 $2,309 $2,248 $2,380 $2,411 $2,36
Slide 17: Retail Deposit Detail
Retail Deposit Detail 1 Quarters are based on a calendar year view. 2As of June 30, 2025. 3 Excludes brokered and state & local government deposits. Source: Company Filings. 17 Retail CD Maturities1 Retail Deposit Segmentation2,3 ($ millions) $285 $532 $275 $67 $60 3.64% 3.69% 3.70% 3.14% 2.03% 3Q25
Slide 18: Investment Securities
Investment Securities 1 As of June 30, 2025. 2 Comprised entirely of securitized federal education loans with 97% U.S. government guarantees. 3 Assumes 29% marginal tax rate. Source: Company Filings. 18 Securities Composition1 Securities Average Balance & Yield Trend As of June 30, 2025, the after-t
Slide 19: Best-in-Class Operating Efficiency
Best-in-Class Operating Efficiency 1 Adjusted for previously disclosed goodwill impairment. Source: S&P Global Market Intelligence & Company Filings. 19 1.76% 1.73% 1.61% 1.55% 1.62% 1.69% 1.51% 1.50% 1.58% 1.40% 1.45% 1.50% 1.55% 1.60% 1.65% 1.70% 1.75% 1.80% 2017 2018 2019 2020 2021 2022 2023 2024
Slide 20: Conservative Underwriting Culture
20 Conservative Underwriting Culture Comprehensive CRE / Multifamily Underwriting Highly disciplined LTV and DSCR standards Interest rates stressed at origination DSCR based on in-place rents, not projections, with conservative allowances for vacancy NOI underwritten to include forecasted expense in
Slide 21: Liquidity Available for Uninsured Deposits
Liquidity Available for Uninsured Deposits Estimated Uninsured Deposits Analysis1,2 1 Estimated amount of uninsured deposits reported in June 30, 2025 Call Report. 2 As of June 30, 2025. 21 Available liquidity is 2.7x greater than the estimated uninsured deposits, excluding the items mentioned above
Slide 22: Non-GAAP Reconciliation
Non-GAAP Reconciliation 22 Reconciliation of GAAP to Non-GAAP (Dollars and Shares in Thousands, Except Per Share Data) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Adjusted net income: Net income (loss) (GAAP) $6,769 $6,648 $6,566 $6,092 ($90,079) Non-recurring tra