Kearny Financial · NASDAQ:KRNY
Kearny Financial — Shareholder Meeting (October 2024)
24 slides from Kearny Financial's shareholder meeting presentation, Oct 17, 2024
Slide 1: Annual Meeting of Stockholders
ANNUAL MEETING OF STOCKHOLDERS O C TO B E R 1 7 , 2 0 2 4 10:00 AM
Slide 2: Welcome and Introductory Remarks
Welcome and Introductory Remarks Craig L. Montanaro Director, President and Chief Executive Officer 2
Slide 3: Members of the Board of Directors
Members of the Board of Directors John J. Mazur, Jr., Chairman Theodore J. Aanensen John F. McGovern Raymond E. Chandonnet Craig L. Montanaro Curtland E. Fields Leopold W. Montanaro John N. Hopkins Christopher Petermann Catherine A. Lawton Charles J. Pivirotto Joseph P. Mazza John F. Regan Melvina W
Slide 4: Executive Management Team
Executive Management Team Keith Suchodolski Patrick M. Joyce Anthony V. Bilotta, Jr. Thomas D. DeMedici Senior Executive Vice President Executive Vice President Executive Vice President Executive Vice President Chief Operating Officer Chief Lending Officer Chief Banking Officer Chief Credit Officer
Slide 5: Other Participants
Other Participants Corporate Secretary Legal Counsel Kearny Financial Corp. Luse Gorman, PC Gail Corrigan Marc Levy, Esq. Senior Vice President Independent Registered Public Inspector of Election Accounting Firm Computershare Crowe LLP Andrey Dragun, CPA Adela Forsyth Partner Vice President 5
Slide 6: Business of the Meeting
Business of the Meeting Proposals to be voted upon: Election of four directors, each for a three-year term; Ratification of the appointment of Crowe LLP as the Company’s independent auditor for the fiscal year ending June 30, 2025; Advisory, non-binding resolution to approve our executive co
Slide 7: Review of Financial Results and Strategic Outlook
ANNUAL MEETING OF STOCKHOLDERS Review of Financial Results and Strategic Outlook F i s c a l Ye a r E n d e d J u n e 3 0 , 2 0 2 4
Slide 8: Forward Looking Statements & Non-GAAP Financial Measures
Forward Looking Statements & Non-GAAP 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
Slide 9: Kearny Financial Corp.
Kearny Financial Corp. Company Overview Branch/Office Footprint NASDAQ: KRNY Founded: 1884 Assets: $7.7 billion Loans: $5.7 billion Deposits: $5.2 billion TBV Per Share: $9.90 Market Cap: $443.7 million1 Company Profile Top 10 New Jersey-based financial institution by assets & deposits. 43 full-serv
Slide 10: DAILY
DAILY Sta PM, THURSDAYS: - + 9t07P.M. > ‘= chireup service atts best af Keainy Federal Savings! main efice ~ 614 Kearay 1, ‘ees tothe grivein into ase ~ «completly eliminating strat: Na fuss. No worry, All in if ORMWETN WINDOW APPRORCH a 6,904 54 ASSETS. SE— 8366 62 | Due Stockholders on installment
Slide 11: 140 Years: Franchise Milestones
Founded Obtained Federal South Bergen Savings Pulaski Bancorp Kearny, NJ Charter Bank Acquired Acquired 1941 1999 2003 1884 140 Years: Franchise West Essex Bank Acquired Completed First-Step Mutual Conversion & IPO of $218.2M Central Jersey Bancorp Acquired Atlas Bank Acquired Milestones 2014 2004 2
Slide 12: Fiscal Year 2024 Accomplishments
Fiscal Year 2024 Accomplishments Repositioned investment portfolio to retire higher-cost wholesale funding and to reinvest in higher yielding loans Executed strategies to Restructured Bank-Owned Life Insurance portfolio support earnings and Executed non-performing note sale mitigate market risk, whi
Slide 13: Advancing our Digital Transformation Process
Advancing our Digital Transformation Process During Fiscal 2024, focus was on delivering client-centric and digitally-driven tools and solutions to make managing finances even easier. Digital Banking Platform Conversion - Allows clients to customize offerings as well as provide an aggregation tool a
Slide 14: Fiscal Year 2025 Strategic Initiatives
Fiscal Year 2025 Strategic Initiatives Diversify loan portfolio with focus on C&I, Owner-Occupied CRE, Construction, and HELOC loans to improve net interest margins and manage interest rate risk while broadening our lending footprint Deepen existing deposit relationships, driving growth from within
Slide 15: Positioned for Earnings Growth in a Declining Rate Environment
Positioned for Earnings Growth in a Declining Rate Environment: Strong Liability Historical Operating Sensitive Asset Efficiency Disciplined cost control Liability-Sensitive balance Quality Minimal exposure to New measures focused on York City office and rent eliminating inefficiencies sheet optimal
Slide 16: Fiscal Year 2024 – Financial Highlights
Fiscal Year 2024 – Financial Highlights Fiscal 2024 proved to be an extremely challenging operating environment for community financial institutions, including us. Net Income (Loss) Inverted yield curve brought on by the Federal Reserve’s restrictive monetary policy during the last two years GAAP Ad
Slide 17: Track Record of Strong Credit Performance
Track Record of Strong Credit Performance Net Charge-offs to Average Total Loans Global Hurricane COVID-19 Financial Sandy Cumulative charge-offs for KRNY Pandemic Crisis between 2006 and 2024 were minimal, totaling $38.6 million. 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Slide 18: Financial Metrics
Financial Metrics Normalizing Equity Capitalization Cumulative Capital Returned to Stockholders1 $ in millions 20.00% $960 $999 16.99% $903 16.04% 14.32% $743 $181 $209 15.00% $152 11.58% 10.78% $596 $122 9.81% $502 10.00% $94 $69 14.19% 13.29% $751 $779 $791 11.72% $621 5.00% 9.06% $502 8.35% 8.43%
Slide 19: KearnyBank Foundation
KearnyBank Foundation Supporting our community by supporting the important work done by you. We take great pleasure and pride in supporting a range of programs that help communities in which we conduct The KearnyBank Foundation donated business,” says Craig Montanaro, Kearny Bank President and CEO.
Slide 20: Corporate Responsibility
Corporate Responsibility The Company recently released a highlights report disclosing updates to our Environmental, Social and Governance (ESG) program during fiscal 2024 including: Celebrated 140 years of service to our communities Launched our first employee survey to assess and respond to employe
Slide 21: Non-GAAP Reconciliation
Non-GAAP Reconciliation Reconciliation of GAAP to Non-GAAP For the year ended For the year ended (Dollars and Shares in Thousands, June 30, June 30, Except Per Share Data) 2024 2023 Adjusted net income: Net (loss) income (GAAP) ($86,667) $40,811 Non-recurring transactions - net of tax: Branch consol
Slide 22: Stockholder Questions
Stockholder Questions Questions? 22
Slide 23: Results of Voting Report of the Inspector of Election
Results of Voting Report of the Inspector of Election 23
Slide 24: Annual Meeting of Stockholders
ANNUAL MEETING OF STOCKHOLDERS O C TO B E R 1 7 , 2 0 2 4 10:00 AM
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