Kearny Financial reports Q4 adjusted EPS 9c vs 19c last year

Total assets were $7.68 billion at June 30, 2024, a decrease of $158.5 million, or 2.0%, from March 31, 2024 and a decrease of $381.4 million, or 4.7%, from June 30, 2023. At June 30, 2024, book value per share totaled $11.70 while tangible book value per share totaled $9.90. “Goodwill impairment in no way affects our ongoing strategy or our ability to serve the banking needs of our clients,” said Craig Montanaro, President & Chief Executive Officer. “It also has no impact on our financial condition, robust liquidity position, or peer-leading regulatory capital ratios. This impairment simply reflects the impact of the current interest rate environment on bank stock prices, including our own.”