Kearny Financial Corp. reported a 39% increase in net income and a 15.1% rise in net interest income for the fiscal year ended June 30, 2026. The New Jersey-based bank attributed the earnings expansion to strategic actions taken during the year, including an optimized retail branch network and expanded deposit capabilities.
In its annual meeting materials, the company stated that tangible actions across its branch network, deposits, technology, and balance sheet optimization strengthened the franchise and positioned it for continued earnings growth. Kearny Financial, founded in 1884, operates 40 branches across 12 counties in New Jersey and the New York metro area. The institution reported $7.7 billion in assets, $5.9 billion in loans, and $5.7 billion in deposits as of the fiscal year end.
To improve efficiency, Kearny Financial consolidated three underperforming branches. The company shifted its focus toward outside sales and small business relationships, redeploying resources toward higher-value opportunities to lower fixed costs and increase productivity. Management also expanded its deposit franchise by adding experienced deposit-focused bankers and establishing new verticals for Corporate Banking, Specialty Deposits, and Non-Profit & Private Education. These moves were designed to broaden relationship-based funding capabilities and improve the overall funding mix.
The bank also deployed automation and advanced analytics capabilities into production. This included deploying robotic process automation in operational and lending workflows, as well as adding platform integration and key performance indicator dashboards. Kearny Financial stated that these technological enhancements provided greater capacity and faster execution.
Profitability improved through expanded margins driven by improved asset yields and portfolio remix. The company also improved funding quality and reduced reliance on wholesale funding. Kearny Financial’s market capitalization was reported at $612.4 million, with tangible book value per share at $10.07. The stock trades on the Nasdaq under the ticker KRNY.
The annual meeting of stockholders is scheduled for October 20, 2026, at 10:00 AM. Craig L. Montanaro, Director, President and Chief Executive Officer, will provide welcome remarks. The board of directors includes John J. Mazur Jr., Theodore J. Aanensen, John F. McGovern, Raymond E. Chandonnet, Curtland E. Fields, Leopold W. Montanaro, Catherine A. Lawton, Christopher Petermann, Joseph P. Mazza, Charles J. Pivirotto, and Melvina Wong-Zaza.
Executive leadership includes Keith Suchodolski as Senior Executive Vice President and Chief Operating Officer, Cassia Beierle as Executive Vice President and General Counsel, Anthony Bilotta as Executive Vice President and Chief Banking Officer, Sean Byrnes as Executive Vice President and Chief Financial Officer, Thomas Demedici as Executive Vice President and Chief Credit Officer, Patrick Joyce as Executive Vice President and Chief Lending Officer, Erika Sacher as Executive Vice President and Chief Administrative Officer, and Tim Swanson as Executive Vice President and Chief Technology & Innovation Officer.
Stockholders will vote on the election of four directors, the ratification of Crowe LLP as the independent auditor for the fiscal year ending June 30, 2027, and an advisory resolution on executive compensation. Gail Corrigan serves as Corporate Secretary. Legal counsel is Luse Gorman PC with Marc Levy Esq., and the inspector of election is Computershare with Amilja Regan serving as Vice President.