Kearny Financial · NASDAQ:KRNY
Kearny Financial — Q1 2023 Earnings Presentation
13 slides from Kearny Financial's earnings presentation, Oct 27, 2022
Slide 1: Investor Presentation First Quarter Fiscal 2023
I N V E S T O R P R E S E N TAT I O N FIRST QUARTER FISCAL 2023 OCTOBER 27, 2022
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: $741.2 million1 Founded in 1884 Top 10 New Jersey-based financial institution by assets 45 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: 138 Years of Serving our Communities and Clients
138 Years of Serving our Communities and Clients Formed the KearnyBank foundation funded with $10M Completed Second- South Bergen Savings West Essex Bank Central Jersey Step Conversion and Clifton Bancorp Introduced Private Founded, Kearny, NJ Bank Acquired Acquired Bancorp Acquired $717.5M Stock Ac
Slide 5: Financial Highlights
Financial Highlights Balance Sheet 2023Q1 2022Q4 ($ in billions) Total Assets $7.89 $7.72 Total Loans $5.68 $5.44 Total Deposits $6.11 $5.86 Profitability and Performance Ratios 2023Q1 2022Q4 ($ in millions, except per share data) Net Income $16.5 $11.4 Earnings per share $0.25 $0.17 Net Interest Ma
Slide 6: Equity & Capitalization
Equity & Capitalization Equity Capitalization Level Regulatory Capital Ratios1,2 14.49% 13.86% 13.86% 14.12% 16.99% 16.04% 11.47% 11.73% 14.32% 9.72% 9.45% 11.58% 11.09% 14.19% 13.29% 11.72% 9.06% 8.61% 2019FY 2020FY 2021FY 2022FY 2023Q1 Tier 1 Common Equity Tier 1 Risk-Based Total Risk-Based Levera
Slide 7: Capital Management
Capital Management Cumulative Capital Returned to Stockholders1 ($ millions) $903 $919 $152 $160 $743 $122 $596 $502 $94 $69 $751 $759 $621 $502 $433 2019FY 2020FY 2021FY 2022FY 2023Q1 Repurchase of Common Stock Dividends Paid Repurchased 760 thousand shares during Fiscal 2023 Q1 at an average price
Slide 8: Earnings Performance
Earnings Performance Earnings per Share Net Income & Return on Assets ($ millions) $1.25 $100.0 1.05% 0.93% 0.86% 0.85% 0.90% $1.00 $0.95 $80.0 0.67% 0.75% $0.77 0.63% $0.75 $60.0 0.60% $0.55 $0.46 0.45% $0.50 $40.0 $63.2 $67.5 0.30% $0.25 $0.25 $20.0 $42.1 $45.0 0.15% $16.5 $0.00 $0.0 0.00% 2019FY
Slide 9: Deposits
Deposits Deposit Composition1 Deposit Growth ($ millions) $6,108 $5,862 13.0% 11.2% $5,485 $683 $654 $594 $4,430 $4,147 QTD Cost $309 $419 $1,902 $2,266 $2,382 20.7% of Deposits $843 $1,264 0.81% 39.0% $791 $983 $907 $1,111 $1,053 $302 $67 $479 $797 $773 16.1% $1,902 $1,773 $1,399 $1,116 $1,263 2019
Slide 10: Portfolio Lending
Portfolio Lending Loan Composition1 Loan Growth Geographic Distribution2 Other 3.3% 0.1% $5,676 Pennsylvania 2.9% $5,437 3.5% 5.0% $4,731 $4,880 $4,540 $1,041 $1,020 18.3% $1,259 $1,079 29.4% $961 QTD Yield New York 36.1% on Loans $2,409 $2,570 $1,946 $2,060 $2,039 3.81% 0.8% New Jersey 55.4% 45.2%
Slide 11: Asset Quality
Asset Quality Net Charge-Offs / Average Loans Non-Performing Assets / Total Assets 0.15% 1.75% 1.50% 1.19% 0.10% 0.07% 1.25% 1.10% 0.98% 1.00% 0.05% 0.03% 0.02% 0.75% 0.55% 0.01% 0.00% 0.50% 0.31% 0.00% 2019FY 2020FY 2021FY 2022FY 2023Q1 0.25% 0.00% -0.05% 2019FY 2020FY 2021FY 2022FY 2023Q1 Non-Perf
Slide 12: M&A History and Strategy
M&A History and Strategy Experienced and disciplined acquirer and integrator Opportunistic acquisition strategy with an emphasis on: Low premium deals Similar or complementary business models Expansion in existing or contiguous markets Cultural compatibility Focus on limiting tangible book value dil
Slide 13: Select Technology Partners
Select Technology Partners 13