Kearny Financial · NASDAQ:KRNY
Kearny Financial — Q4 2023 Earnings Presentation
13 slides from Kearny Financial's earnings presentation, Jul 27, 2023
Slide 1: Investor Presentation Fourth Quarter Fiscal 2023
I N V E S T O R P R E S E N TAT I O N FOURTH QUARTER FISCAL 2023 J ULY 27, 2023
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: $517.0 million1 Founded in 1884 Top 10 New Jersey-based financial institution by assets 43 full-service branches2 in 12 counties throughout New Jersey and New York City Active acquirer, having completed 7 whole-bank acquisitions since 1999 1 As of July
Slide 4: 139 Years of Serving our Communities and Clients
139 Years of Serving our Communities and Clients 4
Slide 5: Financial Highlights
Financial Highlights GAAP Reported Profitability and Performance Ratios 4Q23 3Q23 4Q22 ($ in millions, except per share data) Net Income $12.0 $10.3 $11.4 Earnings per share $0.19 $0.16 $0.17 Net Interest Income $40.2 $42.4 $50.6 Net Interest Margin 2.11% 2.20% 2.92% Non-interest Expense to Average
Slide 6: Equity & Capitalization
Equity & Capitalization Equity Capitalization Level Regulatory Capital Ratios1,2 14.75% 14.07% 14.07% 13.97% 11.18% 11.32% 11.58% 11.09% 10.53% 10.37% 10.78% 9.60% 9.07% 9.06% 8.61% 8.16% 8.35% 8.02% 4Q22 1Q23 2Q23 3Q23 4Q23 Tier 1 Common Equity Tier 1 Risk-Based Total Risk-Based Leverage Tier 1 Cap
Slide 7: Deposits
Deposits Deposit Composition1 Deposit Trend $5,862 $6,108 $5,971 Interest $5,803 $5,629 Savings Bearing DDA $654 $683 $651 13.3% $618 $610 40.0% $2,266 $2,382 $2,316 $2,286 $2,253 QTD Cost Wholesale CDs of Deposits $983 $902 $1,053 $811 $749 11.4% 2.04% $773 $797 $747 $761 $640 $1,116 $1,263 $1,355
Slide 8: Liquidity Available for Uninsured Deposits
Liquidity Available for Uninsured Deposits Estimated Uninsured Deposits Analysis2 Liquidity Capacity2 Estimated Uninsured Deposit Analysis ($ millions) Sources of Liquidity Liquidity Funding Available 1 Estimated Uninsured Deposits $ 1,771 ($ 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% 4.10% HTM 3.43% 9.9% 10.7% 2.74% 2.22% 27.4% 51.7% AFS 89.3% 9.8% $1,462 $1,379 $1,440 $1,417 $1,374 Corporate Bonds CLO ABS Student Loans 2 Agency MBS Total Effective
Slide 10: Portfolio Lending
Portfolio Lending Loan Composition1 Loan Trend Geographic Distribution2 Other Commercial ($ millions) 4.4% Construction 2.5% Pennsylvania 3.9% $6,001 $5,976 5.8% $5,850 $5,676 $5,437 New York $1,017 $1,003 $969 (Ex. Brooklyn) CRE 1-4 Family $1,041 $1,020 17.0% 16.6% 29.1% QTD Yield $2,852 $2,836 $2,
Slide 11: CRE Lending
CRE Lending CRE Portfolio by Collateral Type1 CRE Loan Geographic Distribution1 Other 2.5% Specialty & Other Pennsylvania 4.6% 3.9% Retail 37.6% Industrial New Jersey 14.9% Total CRE WA LTV 56.2% New York (Ex. $1.0 B Brooklyn) 52% 27.2% Office 15.4% Mixed Use 27.5% Brooklyn 10.2% Office Portfolio Pr
Slide 12: Asset Quality
Asset Quality Net Charge-Offs / Average Loans Non-Performing Assets / Total Assets 0.15% 1.50% 0.08% 1.19% 0.10% 1.25% 0.98% 0.05% 0.03% 1.00% 0.01% 0.01% 0.01% 0.76% 0.69% 0.69% 0.00% 0.75% -0.05% 0.50% 4Q22 1Q23 2Q23 3Q23 4Q23 4Q22 1Q23 2Q23 3Q23 4Q23 Non-Performing Loans1 Allowance for Credit Los
Slide 13: Select Technology Partners
Select Technology Partners 13