Kearny Financial Corp (NASDAQ: KRNY) is a community banking company that operates as a savings institution serving retail and commercial customers. It earns money primarily through net interest income, the spread between interest earned on loans and investment securities and interest paid on deposits and borrowings. Net loans receivable totaled $5.77 billion as of June 30, 2025, against total assets of $7.74 billion and total deposits of $5.68 billion. Interest income was $324.5 million for FY2025, while interest expense was $189.5 million, producing net interest income of $134.9 million. Non-interest income contributed $19.1 million in FY2025. Net income for FY2025 was $26.1 million, or $0.42 per diluted share, compared to a net loss of $86.7 million in FY2024, which included a $95.3 million non-cash goodwill impairment. Total capital to risk-weighted assets stood at 14.49% at June 30, 2025, well above the 10.00% well-capitalized threshold. The bank funds its loan portfolio through retail deposits and Federal Home Loan Bank advances, which totaled $1.11 billion as of June 30, 2025.

Revenue model

Net interest income from the spread on loans and investment securities versus deposit and borrowing costs, supplemented by non-interest income. FY2025 net interest income: $134.9 million. FY2025 non-interest income: $19.1 million.

Products and services

Retail and commercial deposit accounts, residential and commercial mortgage loans, construction loans, lines of credit, investment securities portfolios including mortgage-backed securities and collateralized loan obligations, and FHLB-funded wholesale borrowings.

Customers and end markets

Retail depositors and small to medium-sized business borrowers. Business customers represent a meaningful portion of the loan portfolio, with commercial loan repayment capacity cited as a key credit risk driver.

Value-chain role

Balance sheet lender and deposit-taking institution. Originates and holds loans funded by retail deposits and wholesale borrowings. Uses FHLB advances and unsecured overnight borrowings from other financial institutions as supplemental funding.

Geographic exposure

Operates in local markets and geographic regions as described in the FY2025 10-K filed August 21, 2025. Specific state or metropolitan footprint not detailed in the provided excerpts.

Source: SEC 10-K, filed 2025-08-21

Industry: Savings Institution, Federally Chartered Peers: Capitol Federal Financial Inc Federal Agricultural Mortgage Corp Federal National Mortgage Association Luther Burbank Corp Merchants Bancorp Northfield Bancorp Inc NMI Holdings Inc Provident Financial Services Inc Rocket Companies Inc TrustCo Bank Corp NY