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FALSE000161724200016172422026-01-222026-01-22

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_____________________________
FORM 8-K
_____________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 22, 2026
_____________________________
KEARNY FINANCIAL CORP.
(Exact name of Registrant as Specified in Its Charter)
_____________________________
Maryland 001-37399 30-0870244
(State or Other Jurisdiction
of Incorporation)
 (Commission File Number)
(IRS Employer
Identification No.)
120 Passaic Avenue Fairfield, New Jersey
07004
(Address of Principal Executive Offices)
 (Zip Code)
Registrant’s Telephone Number, Including Area Code: (973) 244-4500
(Former Name or Former Address, if Changed Since Last Report)
_____________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $0.01 par value KRNY The NASDAQ Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02    Results of Operation and Financial Condition
On January 22, 2026, Kearny Financial Corp. (the “Company”), the holding company for Kearny Bank, issued a press release reporting its financial results for the period ended December 31, 2025.
A copy of the press release announcing the results is included as Exhibit 99.1 to this Current Report on Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.
Item 7.01    Regulation FD Disclosure
On January 22, 2026, the Company released a slide presentation that will be used in upcoming meetings with potential investors and current shareholders of the Company.
A copy of the slide presentation that will be used in the Company’s presentation is included as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference. The information included in this Current Report pursuant to this Item 7.01 is being furnished to, and not filed with, the Securities and Exchange Commission.
Item 8.01    Other Events
On January 22, 2026, the Company’s Board of Directors announced a quarterly cash dividend of $0.11 per share, payable on February 18, 2026 to stockholders of record as of February 4, 2026.
Item 9.01    Financial Statements and Exhibits
(a)Financial Statements of Business Acquired. Not applicable.
(b)Pro Forma Financial Information. Not applicable.
(c)Shell Company Transaction. Not applicable.
(d)Exhibits.
Exhibit Number Description
99.1
99.2
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
KEARNY FINANCIAL CORP.
Date: January 22, 2026
 By: /s/ Sean Byrnes
Sean Byrnes
Executive Vice President and Chief Financial Officer

EX-99.1 2 krny-20251231xexx991.htm EX-99.1 Document

Exhibit 99.1
FOR IMMEDIATE RELEASE
January 22, 2026
For further information contact:
Keith Suchodolski, Senior Executive Vice President and Chief Operating Officer, or
Sean Byrnes, Executive Vice President and Chief Financial Officer
Kearny Financial Corp.
(973) 244-4500
KEARNY FINANCIAL CORP. ANNOUNCES SECOND QUARTER FISCAL 2026 RESULTS
AND DECLARATION OF CASH DIVIDEND

Fairfield, N.J., January 22, 2026 – Kearny Financial Corp. (NASDAQ GS: KRNY) (the “Company”), the holding company of Kearny Bank (the “Bank”), reported net income for the quarter ended December 31, 2025 of $9.4 million, or $0.15 per diluted share, compared to $9.5 million, or $0.15 per diluted share, for the quarter ended September 30, 2025.

The Company also announced that its Board of Directors has declared a quarterly cash dividend of $0.11 per share, payable on February 18, 2026, to stockholders of record as of February 4, 2026.

Craig L. Montanaro, President and Chief Executive Officer, commented, “We are pleased to report continued improvement in our core earnings. Net interest margin expanded, up 32 basis points year-over-year, reflecting the strategic remix of our balance sheet and the repricing of our loan portfolio. In addition, recent reductions in the federal funds rate are expected to serve as an earnings tailwind, given our liability-sensitive balance sheet.”

Mr. Montanaro continued, “In addition, we made progress on several key strategic initiatives this quarter. First, our previously announced partnership with The Lab Consulting commenced this quarter, and a bank-wide opportunity assessment was completed. Significant automation and process improvement opportunities have been identified, and near-term deliverables under this initiative remain centered on strengthening operational efficiency, enhancing the client experience, and supporting sustainable growth in the periods ahead. Second, this quarter we were pleased to add a five-person residential lending team to grow our pipeline of residential loans held-for-sale and support fee income generation. Their expertise supports our efforts to diversify revenue streams and deepen our residential lending franchise.”

Second Quarter Highlights
•Pre-tax, pre-provision net revenue increased 3.9% to $12.3 million, reflecting ongoing strengthening of core earnings.
•Net interest margin expanded by four basis points to 2.14%, extending the momentum of margin improvement from the previous quarter.
•Non-performing assets decreased 20.6% to $51.3 million, or 0.67% of total assets, demonstrating that credit quality remained solid and continued to improve.
•The Company advanced its loan portfolio diversification strategy, growing commercial business and home equity loans while strategically reducing multifamily mortgage loans.
•Total deposits increased by $79.7 million, or 1.4%, providing additional funding capacity to reduce higher-cost wholesale borrowings and further strengthen the balance sheet.
Balance Sheet
•Total assets were $7.62 billion at December 31, 2025, a decrease of $27.1 million, or 0.4%, from September 30, 2025.
•Investment securities totaled $1.11 billion at December 31, 2025, a decrease of $19.7 million, or 1.7%, from September 30, 2025.
•Loans receivable totaled $5.75 billion at December 31, 2025, a decrease of $14.0 million, or 0.2%, from September 30, 2025, primarily reflecting a decrease in multifamily and residential mortgage loans, partially offset by increases in commercial and industrial (“C&I”) and home equity loans.
1

•Deposits were $5.71 billion at December 31, 2025, an increase of $79.7 million, or 1.4%, from September 30, 2025, primarily driven by increases in non-interest bearing and interest bearing demand deposits, partially offset by a decrease in certificates of deposits. The increase in non-interest bearing demand deposits was largely the result of migrating $69.8 million from a consumer interest bearing product to a non-interest bearing product.
•Borrowings were $1.10 billion at December 31, 2025, a decrease of $111.5 million, or 9.2%, from September 30, 2025, reflecting reductions in Federal Home Loan Bank (“FHLB”) advances, partially offset by an increase in overnight borrowings.
•At December 31, 2025, the Company maintained available secured borrowing capacity with the FHLB and the Federal Reserve Discount Window of $2.70 billion, representing 35.4% of total assets.
Earnings
Net Interest Income and Net Interest Margin
•Net interest margin expanded by four basis points to 2.14% for the quarter ended December 31, 2025. The increase for the quarter was primarily driven by lower costs on interest-bearing liabilities and a reduction in borrowings, partially offset by lower average yields and balances on interest-earning assets.
•For the quarter ended December 31, 2025, net interest income increased $265,000 to $38.0 million from $37.7 million for the quarter ended September 30, 2025. Included in net interest income for the quarters ended December 31, 2025 and September 30, 2025, respectively, was purchase accounting accretion of $494,000 and $601,000, and loan prepayment penalty income of $544,000 and $490,000.
Non-Interest Income
•For the quarter ended December 31, 2025, non-interest income decreased $276,000, or 4.7%, to $5.6 million from $5.8 million for the quarter ended September 30, 2025, primarily driven by the absence of a non-recurring pre-tax gain of $749,000 on the sale of property held for sale recorded in the prior period. Excluding this item, non-interest income increased $473,000, or 9.3%, to $5.6 million for the quarter ended December 31, 2025.
•Fees and service charges increased $403,000, or 45.2%, to $1.3 million for the quarter ended December 31, 2025 from $892,000 for the quarter ended September 30, 2025. The increase primarily reflected higher loan related fee income of $245,000 associated with the payoff of a single construction loan, and $71,000 of higher branch related fee income.
•Electronic banking fees and charges increased $57,000, or 13.7%, to $473,000 for the quarter ended December 31, 2025 from $416,000 for the quarter ended September 30, 2025, primarily driven by higher income from interchange fees.
Non-Interest Expense
•For the quarter ended December 31, 2025, non-interest expense decreased $475,000, or 1.5%, to $31.2 million from $31.7 million for the quarter ended September 30, 2025, primarily driven by declines in salary and benefits, net occupancy, and advertising, partially offset by increases in other expense.
•Salary and benefits expense decreased $372,000 to $18.4 million for the quarter ended December 31, 2025 from $18.7 million for the quarter ended September 30, 2025, primarily driven by a decline in payroll taxes, partially offset by an increase in incentive compensation.
•Net occupancy expense of premises decreased $419,000 to $2.9 million for the quarter ended December 31, 2025 from $3.3 million for the quarter ended September 30, 2025, primarily driven by the absence of non-recurring branch consolidation and maintenance expenses recorded in the prior period. Excluding these items, net occupancy expense of premises decreased $67,000 to $2.9 million for the quarter ended December 31, 2025, primarily driven by lower repairs and other maintenance expense, partially offset by higher snow removal expenses.
•Advertising and marketing expense decreased $150,000 to $412,000 for the quarter ended December 31, 2025 from $562,000 for the quarter ended September 30, 2025, primarily driven by lower advertising expenses across various formats.
•Other expense increased $378,000 to $3.8 million for the quarter December 31, 2025 from $3.5 million for the quarter ended September 30, 2025, primarily driven by $242,000 in non-recurring professional fees incurred in the current period associated with the Company’s partnership with The Lab Consulting and higher loan related legal expenses. Changes in the other components of non-interest expense between comparative periods reflected normal operating fluctuations within those line items.
2

Income Taxes
•Income tax expense totaled $2.3 million for the quarter ended December 31, 2025 compared to $2.5 million for the quarter ended September 30, 2025, resulting in an effective tax rate of 19.8% and 20.6%, respectively.
Asset Quality
•The balance of non-performing assets decreased to $51.3 million, or 0.67% of total assets, at December 31, 2025 from $64.6 million, or 0.84% of total assets, at September 30, 2025. The decrease was primarily driven by the full repayment of a previously disclosed non-performing construction loan.
•Net charge-offs totaled $669,000, or 0.05% of average loans, on an annualized basis, for the quarter ended December 31, 2025, compared to $1.0 million, or 0.07% of average loans, on an annualized basis, for the quarter ended September 30, 2025. Charge-offs in the current quarter were related to the resolution of two individually evaluated loans that were partially reserved for in prior periods.
•For the quarter ended December 31, 2025, the Company recorded a provision for credit losses of $567,000, compared to a reversal of credit losses of $82,000 for the quarter ended September 30, 2025. The increase in the provision was primarily driven by quantitative risk-factor adjustments and individually evaluated reserves associated with a non-performing C&I loan that was fully charged off during the quarter, partially offset by decreases in the balance of loans receivable.
•Allowance for credit losses (“ACL”) was $45.0 million, or 0.78% of total loans, at December 31, 2025, a decrease of $102,000 from $45.1 million, or 0.78% of total loans, at September 30, 2025. The decrease in the ACL from September 30, 2025 was largely attributable to a reduction in reserves for individually evaluated loans, resulting from the charge-offs noted above.
Capital
•For the quarter ended December 31, 2025, book value per share increased $0.07, or 0.6%, to $11.70 while tangible book value per share increased $0.07, or 0.7%, to $9.93.
•At December 31, 2025, total stockholders’ equity included after-tax net unrealized losses on securities available for sale of $68.2 million, partially offset by after-tax unrealized gains on derivatives of $663,000. After-tax net unrecognized losses on securities held to maturity of $7.9 million were not reflected in total stockholders’ equity.
•At December 31, 2025, the Company’s tangible equity to tangible assets ratio equaled 8.56%. Additionally, the regulatory capital ratios of both the Company and the Bank continued to be in excess of all applicable regulatory requirements as of December 31, 2025.

This earnings release should be read in conjunction with Kearny Financial Corp.’s Q2 2026 Investor Presentation, a copy of which is available through the Investor Relations link located at the bottom of the page of our website at www.kearnybank.com and via a Current Report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov.
Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. The Company does not undertake and specifically disclaims any obligation to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
Category: Earnings
3

Linked-Quarter Comparative Financial Analysis
Kearny Financial Corp.
Consolidated Balance Sheets
(Unaudited)
(Dollars and Shares in Thousands,
Except Per Share Data)		 December 31,
2025		 September 30,
2025		 Variance
or Change		 Variance
or Change Pct.
Assets
Cash and cash equivalents $ 147,340  $ 130,139  $ 17,201  13.2  %
Securities available for sale 1,000,397  1,016,182  (15,785) -1.6  %
Securities held to maturity 112,800  116,681  (3,881) -3.3  %
Loans held-for-sale 8,786  6,650  2,136  32.1  %
Loans receivable 5,753,393  5,767,419  (14,026) -0.2  %
Less: allowance for credit losses on loans (44,958) (45,060) (102) -0.2  %
Net loans receivable 5,708,435  5,722,359  (13,924) -0.2  %
Premises and equipment 42,559  43,222  (663) -1.5  %
Federal Home Loan Bank stock 57,212  62,011  (4,799) -7.7  %
Accrued interest receivable 27,420  29,460  (2,040) -6.9  %
Goodwill 113,525  113,525  —  —  %
Core deposit intangible 1,198  1,317  (119) -9.0  %
Bank owned life insurance 309,404  307,248  2,156  0.7  %
Deferred income taxes, net 51,617  51,587  30  0.1  %
Other assets 40,185  47,629  (7,444) -15.6  %
Total assets $ 7,620,878  $ 7,648,010  $ (27,132) -0.4  %
Liabilities
Deposits:
Non-interest-bearing $ 627,180  $ 578,481  $ 48,699  8.4  %
Interest-bearing 5,084,370  5,053,401  30,969  0.6  %
Total deposits 5,711,550  5,631,882  79,668  1.4  %
Borrowings 1,095,000  1,206,497  (111,497) -9.2  %
Advance payments by borrowers for taxes 18,474  19,261  (787) -4.1  %
Other liabilities 38,458  37,166  1,292  3.5  %
Total liabilities 6,863,482  6,894,806  (31,324) -0.5  %
Stockholders' Equity
Common stock 648  648  —  —  %
Paid-in capital 494,959  494,490  469  0.1  %
Retained earnings 346,749  344,287  2,462  0.7  %
Unearned ESOP shares (17,997) (18,484) 487  2.6  %
Accumulated other comprehensive loss (66,963) (67,737) 774  1.1  %
Total stockholders' equity 757,396  753,204  4,192  0.6  %
Total liabilities and stockholders' equity $ 7,620,878  $ 7,648,010  $ (27,132) -0.4  %
Consolidated capital ratios
Equity to assets 9.94  % 9.85  % 0.09  %
Tangible equity to tangible assets (1)
 8.56  % 8.47  % 0.09  %
Share data
Outstanding shares 64,739 64,739 — —  %
Book value per share $ 11.70  $ 11.63  $ 0.07  0.6  %
Tangible book value per share (2)
 $ 9.93  $ 9.86  $ 0.07  0.7  %
_________________________
(1)Tangible equity equals total stockholders' equity reduced by goodwill and core deposit intangible assets. Tangible assets equals total assets reduced by goodwill and core deposit intangible assets.
(2)Tangible book value equals total stockholders' equity reduced by goodwill and core deposit intangible assets.
4

Kearny Financial Corp.
Consolidated Statements of Income
(Unaudited)
(Dollars and Shares in Thousands,
Except Per Share Data)		 Three Months Ended Variance
or Change		 Variance
or Change Pct.
December 31,
2025		 September 30,
2025
Interest income
Loans $ 67,410  $ 68,349  $ (939) -1.4  %
Taxable investment securities 11,623  12,600  (977) -7.8  %
Tax-exempt investment securities 35  41  (6) -14.6  %
Other interest-earning assets 1,584  1,518  66  4.3  %
Total interest income 80,652  82,508  (1,856) -2.2  %
Interest expense
Deposits 33,148  33,931  (783) -2.3  %
Borrowings 9,535  10,873  (1,338) -12.3  %
Total interest expense 42,683  44,804  (2,121) -4.7  %
Net interest income 37,969  37,704  265  0.7  %
Provision for (reversal of) credit losses 567  (82) 649  -791.5  %
Net interest income after provision for (reversal of) credit losses 37,402  37,786  (384) -1.0  %
Non-interest income
Fees and service charges 1,295  892  403  45.2  %
Gain on sale of loans 224  199  25  12.6  %
Income from bank owned life insurance 2,710  2,689  21  0.8  %
Electronic banking fees and charges 473  416  57  13.7  %
Other income 869  1,651  (782) -47.4  %
Total non-interest income 5,571  5,847  (276) -4.7  %
Non-interest expense
Salaries and employee benefits 18,373  18,745  (372) -2.0  %
Net occupancy expense of premises 2,888  3,307  (419) -12.7  %
Equipment and systems 4,007  3,974  33  0.8  %
Advertising and marketing 412  562  (150) -26.7  %
Federal deposit insurance premium 1,357  1,301  56  4.3  %
Directors' compensation 306  307  (1) -0.3  %
Other expense 3,848  3,470  378  10.9  %
Total non-interest expense 31,191  31,666  (475) -1.5  %
Income before income taxes 11,782  11,967  (185) -1.5  %
Income taxes 2,333  2,461  (128) -5.2  %
Net income $ 9,449  $ 9,506  $ (57) -0.6  %
Net income per common share (EPS)
Basic $ 0.15  $ 0.15  $ — 
Diluted $ 0.15  $ 0.15  $ — 
Dividends declared
Cash dividends declared per common share $ 0.11  $ 0.11  $ — 
Cash dividends declared $ 6,987  $ 6,963  $ 24 
Dividend payout ratio 73.9  % 73.2  % 0.7  %
Weighted average number of common shares outstanding
Basic 62,858 62,741 117
Diluted 63,061 62,951 110
5

Kearny Financial Corp.
Average Balance Sheet Data
(Unaudited)
(Dollars in Thousands) Three Months Ended Variance
or Change		 Variance
or Change Pct.
December 31,
2025		 September 30,
2025
Assets
Interest-earning assets:
Loans receivable, including loans held for sale $ 5,778,680  $ 5,806,767  $ (28,087) -0.5  %
Taxable investment securities 1,185,602  1,236,705  (51,103) -4.1  %
Tax-exempt investment securities 5,902  6,856  (954) -13.9  %
Other interest-earning assets 123,475  115,776  7,699  6.6  %
Total interest-earning assets 7,093,659  7,166,104  (72,445) -1.0  %
Non-interest-earning assets 455,752  453,215  2,537  0.6  %
Total assets $ 7,549,411  $ 7,619,319  $ (69,908) -0.9  %
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Deposits:
Interest-bearing demand $ 2,385,397  $ 2,343,809  $ 41,588  1.8  %
Savings 759,247  754,244  5,003  0.7  %
Certificates of deposit (retail) 1,201,950  1,211,026  (9,076) -0.7  %
Certificates of deposit (brokered) 756,179  755,813  366  0.0  %
Total interest-bearing deposits 5,102,773  5,064,892  37,881  0.7  %
Borrowings:
Federal Home Loan Bank advances 998,760  1,077,146  (78,386) -7.3  %
Other borrowings 38,478  85,489  (47,011) -55.0  %
Total borrowings 1,037,238  1,162,635  (125,397) -10.8  %
Total interest-bearing liabilities 6,140,011  6,227,527  (87,516) -1.4  %
Non-interest-bearing liabilities:
Non-interest-bearing deposits 595,035  581,625  13,410  2.3  %
Other non-interest-bearing liabilities 59,447  65,024  (5,577) -8.6  %
Total non-interest-bearing liabilities 654,482  646,649  7,833  1.2  %
Total liabilities 6,794,493  6,874,176  (79,683) -1.2  %
Stockholders' equity 754,918  745,143  9,775  1.3  %
Total liabilities and stockholders' equity $ 7,549,411  $ 7,619,319  $ (69,908) -0.9  %
Average interest-earning assets to average interest-bearing liabilities 115.53  % 115.07  % 0.46  % 0.4  %
6

Kearny Financial Corp.
Performance Ratio Highlights
(Unaudited)
Three Months Ended Variance
or Change
December 31,
2025		 September 30,
2025
Average yield on interest-earning assets:
Loans receivable, including loans held for sale 4.67  % 4.71  % -0.04  %
Taxable investment securities 3.92  % 4.08  % -0.16  %
Tax-exempt investment securities (1)
 2.36  % 2.42  % -0.06  %
Other interest-earning assets 5.13  % 5.24  % -0.11  %
Total interest-earning assets 4.55  % 4.61  % -0.06  %
Average cost of interest-bearing liabilities:
Deposits:
Interest-bearing demand 2.51  % 2.63  % -0.12  %
Savings 1.40  % 1.41  % -0.01  %
Certificates of deposit (retail) 3.45  % 3.56  % -0.11  %
Certificates of deposit (brokered) 2.72  % 2.67  % 0.05  %
Total interest-bearing deposits 2.60  % 2.68  % -0.08  %
Borrowings:
Federal Home Loan Bank advances 3.66  % 3.69  % -0.03  %
Other borrowings 4.13  % 4.44  % -0.31  %
Total borrowings 3.68  % 3.74  % -0.06  %
Total interest-bearing liabilities 2.78  % 2.88  % -0.10  %
Interest rate spread (2)
 1.77  % 1.73  % 0.04  %
Net interest margin (3)
 2.14  % 2.10  % 0.04  %
Non-interest income to average assets (annualized) 0.30  % 0.31  % -0.01  %
Non-interest expense to average assets (annualized) 1.65  % 1.66  % -0.01  %
Efficiency ratio (4)
 71.64  % 72.71  % -1.07  %
Return on average assets (annualized) 0.50  % 0.50  % —  %
Return on average equity (annualized) 5.01  % 5.10  % -0.09  %
Return on average tangible equity (annualized) (5)
 5.96  % 6.09  % -0.13  %
_________________________
(1)The yield on tax-exempt investment securities has not been adjusted to reflect their tax-effective yield.
(2)Interest income divided by average interest-earning assets less interest expense divided by average interest-bearing liabilities.
(3)Net interest income divided by average interest-earning assets.
(4)Non-interest expense divided by the sum of net interest income and non-interest income.
(5)Average tangible equity equals total average stockholders’ equity reduced by average goodwill and average core deposit intangible assets.
7


Five-Quarter Financial Trend Analysis
Kearny Financial Corp.
Consolidated Balance Sheets
(Dollars and Shares in Thousands,
Except Per Share Data)		 December 31,
2025		 September 30,
2025		 June 30,
2025		 March 31,
2025		 December 31,
2024
(Unaudited) (Unaudited) (Audited) (Unaudited) (Unaudited)
Assets
Cash and cash equivalents $ 147,340  $ 130,139  $ 167,269  $ 126,095  $ 141,554 
Securities available for sale 1,000,397  1,016,182  1,012,969  1,003,393  1,018,279 
Securities held to maturity 112,800  116,681  120,217  124,859  127,266 
Loans held-for-sale 8,786  6,650  5,931  6,187  5,695 
Loans receivable 5,753,393  5,767,419  5,812,937  5,846,175  5,791,758 
Less: allowance for credit losses on loans (44,958) (45,060) (46,191) (44,455) (44,457)
Net loans receivable 5,708,435  5,722,359  5,766,746  5,801,720  5,747,301 
Premises and equipment 42,559  43,222  43,897  44,192  45,127 
Federal Home Loan Bank stock 57,212  62,011  64,261  62,261  64,443 
Accrued interest receivable 27,420  29,460  28,098  28,521  27,772 
Goodwill 113,525  113,525  113,525  113,525  113,525 
Core deposit intangible 1,198  1,317  1,436  1,554  1,679 
Bank owned life insurance 309,404  307,248  304,717  303,629  301,339 
Deferred income taxes, net 51,617  51,587  55,203  52,913  53,325 
Other assets 40,185  47,629  56,181  64,292  84,080 
Total assets $ 7,620,878  $ 7,648,010  $ 7,740,450  $ 7,733,141  $ 7,731,385 
Liabilities
Deposits:
Non-interest-bearing $ 627,180  $ 578,481  $ 582,045  $ 587,118  $ 601,510 
Interest-bearing 5,084,370  5,053,401  5,093,172  5,120,230  5,069,550 
Total deposits 5,711,550  5,631,882  5,675,217  5,707,348  5,671,060 
Borrowings 1,095,000  1,206,497  1,256,491  1,213,976  1,258,949 
Advance payments by borrowers for taxes 18,474  19,261  19,317  19,981  17,986 
Other liabilities 38,458  37,166  43,463  43,723  38,537 
Total liabilities 6,863,482  6,894,806  6,994,488  6,985,028  6,986,532 
Stockholders' Equity
Common stock 648  648  646  646  646 
Paid-in capital 494,959  494,490  494,546  494,131  494,092 
Retained earnings 346,749  344,287  341,744  341,921  342,155 
Unearned ESOP shares (17,997) (18,484) (18,970) (19,457) (19,943)
Accumulated other comprehensive loss (66,963) (67,737) (72,004) (69,128) (72,097)
Total stockholders' equity 757,396  753,204  745,962  748,113  744,853 
Total liabilities and stockholders' equity $ 7,620,878  $ 7,648,010  $ 7,740,450  $ 7,733,141  $ 7,731,385 
Consolidated capital ratios
Equity to assets 9.94  % 9.85  % 9.64  % 9.67  % 9.63  %
Tangible equity to tangible assets (1)
 8.56  % 8.47  % 8.27  % 8.31  % 8.27  %
Share data
Outstanding shares 64,739 64,739 64,577 64,580 64,580
Book value per share $ 11.70  $ 11.63  $ 11.55  $ 11.58  $ 11.53 
Tangible book value per share (2)
 $ 9.93  $ 9.86  $ 9.77  $ 9.80  $ 9.75 
_________________________
(1)Tangible equity equals total stockholders' equity reduced by goodwill and core deposit intangible assets. Tangible assets equals total assets reduced by goodwill and core deposit intangible assets.
(2)Tangible book value equals total stockholders' equity reduced by goodwill and core deposit intangible assets.
8

Kearny Financial Corp.
Supplemental Balance Sheet Highlights
(Unaudited)
(Dollars in Thousands) December 31,
2025		 September 30,
2025		 June 30,
2025		 March 31,
2025		 December 31,
2024
Loan portfolio composition:
Commercial loans:
Multi-family mortgage $ 2,619,124  $ 2,640,737  $ 2,709,654  $ 2,733,406  $ 2,722,623 
Nonresidential mortgage 990,178  988,969  986,556  988,074  950,194 
Commercial business 169,884  142,304  138,755  140,224  135,740 
Construction 181,766  189,626  177,713  174,722  176,704 
Total commercial loans 3,960,952  3,961,636  4,012,678  4,036,426  3,985,261 
One- to four-family residential mortgage 1,730,543  1,749,362  1,748,591  1,761,465  1,765,160 
Consumer loans:
Home equity loans 59,046  54,116  50,737  49,699  47,101 
Other consumer 2,523  2,487  2,533  2,859  2,778 
Total consumer loans 61,569  56,603  53,270  52,558  49,879 
Total loans, excluding yield adjustments 5,753,064  5,767,601  5,814,539  5,850,449  5,800,300 
Unaccreted yield adjustments 329  (182) (1,602) (4,274) (8,542)
Loans receivable, net of yield adjustments 5,753,393  5,767,419  5,812,937  5,846,175  5,791,758 
Less: allowance for credit losses on loans (44,958) (45,060) (46,191) (44,455) (44,457)
Net loans receivable $ 5,708,435  $ 5,722,359  $ 5,766,746  $ 5,801,720  $ 5,747,301 
Asset quality:
Nonperforming assets:
Accruing loans - 90 days and over past due $ —  $ 20,494  $ —  $ —  $ — 
Nonaccrual loans 51,306  44,085  45,597  37,683  37,697 
Total nonperforming loans 51,306  64,579  45,597  37,683  37,697 
Nonaccrual loans held-for-sale —  —  —  —  — 
Other real estate owned —  —  —  —  — 
Total nonperforming assets $ 51,306  $ 64,579  $ 45,597  $ 37,683  $ 37,697 
Nonperforming loans (% total loans) 0.89  % 1.12  % 0.78  % 0.64  % 0.65  %
Nonperforming assets (% total assets) 0.67  % 0.84  % 0.59  % 0.49  % 0.49  %
Classified loans $ 97,542  $ 117,780  $ 118,418  $ 113,470  $ 106,718 
Allowance for credit losses on loans (ACL):
ACL to total loans 0.78  % 0.78  % 0.79  % 0.76  % 0.77  %
ACL to nonperforming loans 87.63  % 69.78  % 101.30  % 117.97  % 117.93  %
Net charge-offs $ 669  $ 1,049  $ 49  $ 368  $ 573 
Average net charge-off rate (annualized) 0.05  % 0.07  % 0.00  % 0.03  % 0.04  %

9

Kearny Financial Corp.
Supplemental Balance Sheet Highlights
(Unaudited)
(Dollars in Thousands) December 31,
2025		 September 30,
2025		 June 30,
2025		 March 31,
2025		 December 31,
2024
Funding composition:
Deposits:
Non-interest-bearing deposits $ 627,180  $ 578,481  $ 582,045  $ 587,118  $ 601,510 
Interest-bearing demand 2,376,825  2,334,560  2,362,222  2,410,925  2,380,408 
Savings 769,742  751,253  754,376  758,239  742,266 
Certificates of deposit (retail) 1,180,370  1,208,408  1,218,920  1,218,479  1,213,887 
Certificates of deposit (brokered) 757,433  759,180  757,654  732,587  732,989 
Interest-bearing deposits 5,084,370  5,053,401  5,093,172  5,120,230  5,069,550 
Total deposits 5,711,550  5,631,882  5,675,217  5,707,348  5,671,060 
Borrowings:
Federal Home Loan Bank advances 800,000  1,006,497  1,106,491  1,028,976  1,028,949 
Overnight borrowings 295,000  200,000  150,000  185,000  230,000 
Total borrowings 1,095,000  1,206,497  1,256,491  1,213,976  1,258,949 
Total funding $ 6,806,550  $ 6,838,379  $ 6,931,708  $ 6,921,324  $ 6,930,009 
Loans as a % of deposits 100.1  % 101.7  % 101.7  % 101.8  % 101.4  %
Deposits as a % of total funding 83.9  % 82.4  % 81.9  % 82.5  % 81.8  %
Borrowings as a % of total funding 16.1  % 17.6  % 18.1  % 17.5  % 18.2  %
Uninsured deposits:
Uninsured deposits (reported) (1)
 $ 2,158,440  $ 2,040,021  $ 1,989,095  $ 1,959,070  $ 1,935,607 
Uninsured deposits (adjusted) (2)
 $ 800,998  $ 804,209  $ 813,780  $ 799,238  $ 797,721 
_________________________
(1)Uninsured deposits of Kearny Bank.
(2)Uninsured deposits of Kearny Bank adjusted to exclude deposits of its wholly-owned subsidiary and holding company and collateralized deposits of state and local governments.
10

Kearny Financial Corp.
Consolidated Statements of Income
(Unaudited)
Three Months Ended
(Dollars and Shares in Thousands,
Except Per Share Data)		 December 31,
2025		 September 30,
2025		 June 30,
2025		 March 31,
2025		 December 31,
2024
Interest income
Loans $ 67,410  $ 68,349  $ 66,485  $ 64,768  $ 65,408 
Taxable investment securities 11,623  12,600  12,322  12,738  13,803 
Tax-exempt investment securities 35  41  49  55  59 
Other interest-earning assets 1,584  1,518  1,549  1,773  2,215 
Total interest income 80,652  82,508  80,405  79,334  81,485 
Interest expense
Deposits 33,148  33,931  33,607  34,912  36,721 
Borrowings 9,535  10,873  10,955  10,380  12,152 
Total interest expense 42,683  44,804  44,562  45,292  48,873 
Net interest income 37,969  37,704  35,843  34,042  32,612 
Provision for (reversal of) credit losses 567  (82) 1,785  366  107 
Net interest income after provision for (reversal of) credit losses 37,402  37,786  34,058  33,676  32,505 
Non-interest income
Fees and service charges 1,295  892  655  573  627 
Gain on sale of loans 224  199  190  112  304 
Income from bank owned life insurance 2,710  2,689  2,869  2,617  2,619 
Electronic banking fees and charges 473  416  442  391  493 
Other income 869  1,651  835  869  830 
Total non-interest income 5,571  5,847  4,991  4,562  4,873 
Non-interest expense
Salaries and employee benefits 18,373  18,745  18,093  17,700  17,579 
Net occupancy expense of premises 2,888  3,307  2,820  3,075  2,831 
Equipment and systems 4,007  3,974  4,030  3,921  3,892 
Advertising and marketing 412  562  615  609  311 
Federal deposit insurance premium 1,357  1,301  1,395  1,450  1,503 
Directors' compensation 306  307  307  326  361 
Other expense 3,848  3,470  3,633  3,309  3,084 
Total non-interest expense 31,191  31,666  30,893  30,390  29,561 
Income before income taxes 11,782  11,967  8,156  7,848  7,817 
Income taxes 2,333  2,461  1,387  1,200  1,251 
Net income $ 9,449  $ 9,506  $ 6,769  $ 6,648  $ 6,566 
Net income per common share (EPS)
Basic $ 0.15  $ 0.15  $ 0.11  $ 0.11  $ 0.11 
Diluted $ 0.15  $ 0.15  $ 0.11  $ 0.11  $ 0.10 
Dividends declared
Cash dividends declared per common share $ 0.11  $ 0.11  $ 0.11  $ 0.11  $ 0.11 
Cash dividends declared $ 6,987  $ 6,963  $ 6,946  $ 6,933  $ 6,933 
Dividend payout ratio 73.9  % 73.2  % 102.6  % 104.3  % 105.6  %
Weighted average number of common shares outstanding
Basic 62,858 62,741 62,597 62,548 62,443
Diluted 63,061 62,951 62,755 62,713 62,576
11

Kearny Financial Corp.
Average Balance Sheet Data
(Unaudited)
Three Months Ended
(Dollars in Thousands) December 31,
2025		 September 30,
2025		 June 30,
2025		 March 31,
2025		 December 31,
2024
Assets
Interest-earning assets:
Loans receivable, including loans held-for-sale $ 5,778,680  $ 5,806,767  $ 5,830,421  $ 5,805,045  $ 5,762,053 
Taxable investment securities 1,185,602  1,236,705  1,227,825  1,251,612  1,285,800 
Tax-exempt investment securities 5,902  6,856  8,039  9,135  9,711 
Other interest-earning assets 123,475  115,776  117,622  110,736  116,354 
Total interest-earning assets 7,093,659  7,166,104  7,183,907  7,176,528  7,173,918 
Non-interest-earning assets 455,752  453,215  454,975  457,206  459,982 
Total assets $ 7,549,411  $ 7,619,319  $ 7,638,882  $ 7,633,734  $ 7,633,900 
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Deposits:
Interest-bearing demand $ 2,385,397  $ 2,343,809  $ 2,342,523  $ 2,405,974  $ 2,314,378 
Savings 759,247  754,244  754,192  751,243  711,801 
Certificates of deposit (retail) 1,201,950  1,211,026  1,215,661  1,215,767  1,216,948 
Certificates of deposit (brokered) 756,179  755,813  744,345  730,612  730,773 
Total interest-bearing deposits 5,102,773  5,064,892  5,056,721  5,103,596  4,973,900 
Borrowings:
Federal Home Loan Bank advances 998,760  1,077,146  1,083,902  1,028,958  1,085,455 
Other borrowings 38,478  85,489  107,582  93,389  156,522 
Total borrowings 1,037,238  1,162,635  1,191,484  1,122,347  1,241,977 
Total interest-bearing liabilities 6,140,011  6,227,527  6,248,205  6,225,943  6,215,877 
Non-interest-bearing liabilities:
Non-interest-bearing deposits 595,035  581,625  582,085  602,647  604,915 
Other non-interest-bearing liabilities 59,447  65,024  64,405  59,919  65,258 
Total non-interest-bearing liabilities 654,482  646,649  646,490  662,566  670,173 
Total liabilities 6,794,493  6,874,176  6,894,695  6,888,509  6,886,050 
Stockholders' equity 754,918  745,143  744,187  745,225  747,850 
Total liabilities and stockholders' equity $ 7,549,411  $ 7,619,319  $ 7,638,882  $ 7,633,734  $ 7,633,900 
Average interest-earning assets to average
 interest-bearing liabilities
 115.53  % 115.07  % 114.98  % 115.27  % 115.41  %
12

Kearny Financial Corp.
Performance Ratio Highlights
Three Months Ended
December 31,
2025		 September 30,
2025		 June 30,
2025		 March 31,
2025		 December 31,
2024
Average yield on interest-earning assets:
Loans receivable, including loans held-for-sale 4.67  % 4.71  % 4.56  % 4.46  % 4.54  %
Taxable investment securities 3.92  % 4.08  % 4.01  % 4.07  % 4.29  %
Tax-exempt investment securities (1)
 2.36  % 2.42  % 2.43  % 2.43  % 2.42  %
Other interest-earning assets 5.13  % 5.24  % 5.27  % 6.40  % 7.62  %
Total interest-earning assets 4.55  % 4.61  % 4.48  % 4.42  % 4.54  %
Average cost of interest-bearing liabilities:
Deposits:
Interest-bearing demand 2.51  % 2.63  % 2.63  % 2.73  % 2.96  %
Savings 1.40  % 1.41  % 1.33  % 1.30  % 1.29  %
Certificates of deposit (retail) 3.45  % 3.56  % 3.56  % 3.73  % 4.06  %
Certificates of deposit (brokered) 2.72  % 2.67  % 2.62  % 2.58  % 2.70  %
Total interest-bearing deposits 2.60  % 2.68  % 2.66  % 2.74  % 2.95  %
Borrowings:
Federal Home Loan Bank advances 3.66  % 3.69  % 3.60  % 3.63  % 3.78  %
Other borrowings 4.13  % 4.44  % 4.45  % 4.41  % 4.88  %
Total borrowings 3.68  % 3.74  % 3.68  % 3.70  % 3.91  %
Total interest-bearing liabilities 2.78  % 2.88  % 2.85  % 2.91  % 3.15  %
Interest rate spread (2)
 1.77  % 1.73  % 1.62  % 1.51  % 1.39  %
Net interest margin (3)
 2.14  % 2.10  % 2.00  % 1.90  % 1.82  %
Non-interest income to average assets (annualized) 0.30  % 0.31  % 0.26  % 0.24  % 0.26  %
Non-interest expense to average assets (annualized) 1.65  % 1.66  % 1.62  % 1.59  % 1.55  %
Efficiency ratio (4)
 71.64  % 72.71  % 75.66  % 78.72  % 78.86  %
Return on average assets (annualized) 0.50  % 0.50  % 0.35  % 0.35  % 0.34  %
Return on average equity (annualized) 5.01  % 5.10  % 3.64  % 3.57  % 3.51  %
Return on average tangible equity (annualized) (5)
 5.96  % 6.09  % 4.36  % 4.28  % 4.21  %
_________________________
(1)The yield on tax-exempt investment securities has not been adjusted to reflect their tax-effective yield.
(2)Interest income divided by average interest-earning assets less interest expense divided by average interest-bearing liabilities.
(3)Net interest income divided by average interest-earning assets.
(4)Non-interest expense divided by the sum of net interest income and non-interest income.
(5)Average tangible equity equals total average stockholders’ equity reduced by average goodwill and average core deposit intangible assets.
13

The following tables provide a reconciliation of certain financial measures calculated in accordance with Generally Accepted Accounting Principles (“GAAP”) (as reported) and non-GAAP measures. These non-GAAP measures provide additional information which allow readers to evaluate the ongoing performance of the Company. They are not a substitute for GAAP measures; they should be read and used in conjunction with the Company’s GAAP financial information. In all cases, it should be understood that non-GAAP per share measures do not depict amounts that accrue directly to the benefit of shareholders.
Kearny Financial Corp.
Reconciliation of GAAP to Non-GAAP
(Unaudited)
Three Months Ended
(Dollars and Shares in Thousands,
Except Per Share Data)		 December 31,
2025		 September 30,
2025		 June 30,
2025		 March 31,
2025		 December 31,
2024
Adjusted net income:
Net income (GAAP) $ 9,449  $ 9,506  $ 6,769  $ 6,648  $ 6,566 
Non-recurring transactions - net of tax:
Branch consolidation expenses —  178  —  —  — 
Gain on sale of property held for sale —  (532) —  —  — 
Adjusted net income $ 9,449  $ 9,152  $ 6,769  $ 6,648  $ 6,566 
Calculation of pre-tax, pre-provision net revenue:
Net income (GAAP) $ 9,449  $ 9,506  $ 6,769  $ 6,648  $ 6,566 
Adjustments to net income (GAAP):
Provision for income taxes 2,333  2,461  1,387  1,200  1,251 
Provision for (reversal of) credit losses 567  (82) 1,785  366  107 
Pre-tax, pre-provision net revenue (non-GAAP) $ 12,349  $ 11,885  $ 9,941  $ 8,214  $ 7,924 
Adjusted earnings per share:
Weighted average common shares - basic 62,858 62,741 62,597 62,548 62,443
Weighted average common shares - diluted 63,061 62,951 62,755 62,713 62,576
Earnings per share - basic (GAAP) $ 0.15  $ 0.15  $ 0.11  $ 0.11  $ 0.11 
Earnings per share - diluted (GAAP) $ 0.15  $ 0.15  $ 0.11  $ 0.11  $ 0.10 
Adjusted earnings per share - basic (non-GAAP) $ 0.15  $ 0.15  $ 0.11  $ 0.11  $ 0.11 
Adjusted earnings per share - diluted (non-GAAP) $ 0.15  $ 0.15  $ 0.11  $ 0.11  $ 0.10 
Pre-tax, pre-provision net revenue per share:
Pre-tax, pre-provision net revenue per share - basic
  (non-GAAP)
 $ 0.20  $ 0.19  $ 0.16  $ 0.13  $ 0.13 
Pre-tax, pre-provision net revenue per share - diluted
  (non-GAAP)
 $ 0.20  $ 0.19  $ 0.16  $ 0.13  $ 0.13 
Adjusted return on average assets:
Total average assets $ 7,549,411  $ 7,619,319  $ 7,638,882  $ 7,633,734  $ 7,633,900 
Return on average assets (GAAP) 0.50  % 0.50  % 0.35  % 0.35  % 0.34  %
Adjusted return on average assets (non-GAAP) 0.50  % 0.48  % 0.35  % 0.35  % 0.34  %
Adjusted return on average equity:
Total average equity $ 754,918  $ 745,143  $ 744,187  $ 745,225  $ 747,850 
Return on average equity (GAAP) 5.01  % 5.10  % 3.64  % 3.57  % 3.51  %
Adjusted return on average equity (non-GAAP) 5.01  % 4.91  % 3.64  % 3.57  % 3.51  %
14

Kearny Financial Corp.
Reconciliation of GAAP to Non-GAAP
(Unaudited)
Three Months Ended
(Dollars and Shares in Thousands,
Except Per Share Data)		 December 31,
2025		 September 30,
2025		 June 30,
2025		 March 31,
2025		 December 31,
2024
Adjusted return on average tangible equity:
Total average equity $ 754,918  $ 745,143  $ 744,187  $ 745,225  $ 747,850 
Less: average goodwill (113,525) (113,525) (113,525) (113,525) (113,525)
Less: average other intangible assets (1,276) (1,395) (1,513) (1,636) (1,761)
Total average tangible equity $ 640,117  $ 630,223  $ 629,149  $ 630,064  $ 632,564 
Return on average tangible equity (non-GAAP) 5.96  % 6.09  % 4.36  % 4.28  % 4.21  %
Adjusted return on average tangible equity (non-GAAP) 5.96  % 5.87  % 4.36  % 4.28  % 4.21  %
Adjusted non-interest expense ratio:
Non-interest expense (GAAP) $ 31,191  $ 31,666  $ 30,893  $ 30,390  $ 29,561 
Non-recurring transactions:
Branch consolidation expenses —  (250) —  —  — 
Non-interest expense (non-GAAP) $ 31,191  $ 31,416  $ 30,893  $ 30,390  $ 29,561 
Non-interest expense ratio (GAAP) 1.65  % 1.66  % 1.62  % 1.59  % 1.55  %
Adjusted non-interest expense ratio (non-GAAP) 1.65  % 1.65  % 1.62  % 1.59  % 1.55  %
Adjusted efficiency ratio:
Non-interest expense (non-GAAP) $ 31,191  $ 31,416  $ 30,893  $ 30,390  $ 29,561 
Net interest income (GAAP) $ 37,969  $ 37,704  $ 35,843  $ 34,042  $ 32,612 
Total non-interest income (GAAP) 5,571  5,847  4,991  4,562  4,873 
Non-recurring transactions:
Gain on sale of property held for sale —  (749) —  —  — 
Total revenue (non-GAAP) $ 43,540  $ 42,802  $ 40,834  $ 38,604  $ 37,485 
Efficiency ratio (GAAP) 71.64  % 72.71  % 75.66  % 78.72  % 78.86  %
Adjusted efficiency ratio (non-GAAP) 71.64  % 73.40  % 75.66  % 78.72  % 78.86  %

15
EX-99.2 3 krny-20251231xexx992xfin.htm EX-99.2 krny-20251231xexx992xfin
January 22, 2026 I N V E S T O R P R E S E N T A T I O N S E C O N D Q U A R T E R F I S C A L 2 0 2 6 Exhibit 99.2

 
Forward Looking Statements & Financial Measures 2 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 subject to risks and uncertainties, such as statements of the Company’s plans, objectives, expectations, estimates and intentions that are subject to change based on various important factors (some of which are beyond the Company’s control). In addition to the factors described under Item 1A. Risk Factors in the Company’s Annual Report on Form 10-K, and subsequent filings with the Securities and Exchange Commission, the following factors, among others, could cause the Company’s financial performance to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements: • the strength of the United States economy in general and the strength of the local economy in which the Company conducts operations, • the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System, inflation, interest rates, market and monetary fluctuations, • the impact of changes in laws, regulations and government policies effecting financial institutions (including taxation, banking, securities, insurance and tariffs), • changes in accounting policies and practices, as may be adopted by regulatory agencies, the Financial Accounting Standards Board (“FASB”) or the Public Company Accounting Oversight Board, • technological changes, • competition among financial services providers, and • the success of the Company at managing the risks involved in the foregoing and managing its business. The Company cautions that the foregoing list of important factors is not exhaustive. Readers should not place any undue reliance on any forward looking statements, which speak only as of the date made. The Company does not undertake any obligation to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company. This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Management uses these “non-GAAP” measures in its analysis of the Company’s performance. Management believes these non-GAAP financial measures allow for better comparability of period to period operating performance. Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation of the non-GAAP measures used in this presentation to the most directly comparable GAAP measures is provided at the end of this presentation.

 
Kearny Financial Corp. 1 Financial information as of December 31, 2025. Source: S&P Global Market Intelligence & Company Filings. 3 Branch/Office Footprint NASDAQ: KRNY Founded: 1884 Assets $7.6 billion Loans $5.8 billion Deposits $5.7 billion Capital $0.8 billion TBV Per Share: $9.93 Market Cap: $479.7 million Kearny Snapshot1 40 branches across 12 counties - in NJ and the NY metro area. Top 10 NJ Financial Institution - by Assets & Deposits

 
4 4 Origins 1884 — Founded in Kearny, NJ 1941 — Obtained Federal Charter 2017 — Converted to NJ State– Chartered Savings Bank Capital 2005 — First-Step Mutual Conversion & $218.2M IPO 2015 — Second-Step Conversion & $717.5M Stock Offering Bank Acquisitions 1999 — South Bergen Savings Bank 2003 — Pulaski Bancorp 2004 — West Essex Bank 2011 — Central Jersey Bancorp 2014 — Atlas Bank 2018 — Clifton Bancorp 2020 — MSB Financial Corp. Client & Community 2015 — KearnyBank Foundation formed (funded with $10M) 2021 — Private Client Services introduced 2022 — Kearny Investment Services established 140+ Years of Growth and Community Impact “A legacy of trust, a future of opportunity.”

 
Second Quarter 2026 Performance 1 GAAP to Adjusted reconciliation on page 19. Source: Company Filings. 5 Quarter Highlights Strengthened Earnings Power: Pre-tax, pre-provision net revenue rose 3.9% to $12.3 million, underscoring continued improvement in core earnings. Expanded Margin: Net interest margin increased 4 bps to 2.14%, extending the positive momentum from the prior quarter. Reinforced Credit Quality: Non-performing assets declined 20.6% to $51.3 million (0.67% of assets), reflecting a normalization of credit quality trends following the repayment of a previously disclosed non-performing construction loan. Advanced Portfolio Diversification: Grew commercial business and home equity lending, while strategically reducing multifamily mortgage loans. Enhanced Funding Strength: Total deposits increased by $79.7 million (1.4%), providing additional funding capacity to reduce higher-cost wholesale borrowings and further strengthen the balance sheet. Reported / Adjusted GAAP Net Income: $9.4 million Diluted EPS: $0.15 Net Interest Income: $38.0 million Net Interest Margin: 2.14% Dividend Yield: 5.94% CET- 1 Ratio: 14.67% Financial Metrics

 
Sustained Earnings Growth and Margin Expansion Net Interest Income & Net Interest Margin 6 Earnings Metrics 2 1 See “Non-GAAP Financial Information” for reconciliation on page 19. Source: Company Filings. ($ thousands) $32,612 $34,042 $35,843 $37,704 $37,969 1.82% 1.90% 2.00% 2.10% 2.14% 2Q25 3Q25 4Q25 1Q26 2Q26 Net Interest Income Net Interest Margin $6,566 $6,648 $6,769 $9,506 $9,449 $7,924 $8,214 $9,941 $11,885 $12,349 $0.10 $0.11 $0.11 $0.15 $0.15 $0.13 $0.13 $0.16 $0.19 $0.20 2Q25 3Q25 4Q25 1Q26 2Q26 Net income Pre-tax, pre-provision net revenue Earnings per share, diluted Pre-tax, pre-provision earnings per share 1 1 ($ thousands, except per share data)

 
Granular Deposit Franchise 1 As of December 31, 2025. Source: Company Filings. 7 Non-Maturity Deposit Mix1 ($ millions) 20.7% 13.3% 13.5% 41.6% 11.0%* Deposit Composition $1,214 $1,218 $1,219 $1,208 $1,180 $733 $733 $758 $759 $757 $742 $758 $754 $751 $770 $2,380 $2,411 $2,362 $2,335 $2,377 $602 $587 $582 $578 $627 $5,471 $5,707 $5,675 $5,632 $5,712 2Q25 3Q25 4Q25 1Q26 2Q26 Retail CDs Wholesale CDs Savings Interest Bearing DDA Non-interest Bearing DDA Consumer 63.4% Commercial 19.8% Government 16.8% * Increase from 1Q26 to 2Q26 in non-interest bearing demand deposits was largely the result of the migration of a consumer interest bearing product to a non-interest bearing product Deposit Trend & Composition

 
Retail Deposit Detail 1 Quarters are based on a calendar year view. 2As of December 31, 2025. 3 Excludes brokered and state & local government deposits. Source: Company Filings. 8 Retail CD Maturities1 Retail Deposit Segmentation2,3 ($ millions) $532 $256 $172 $132 $89 3.66% 3.11% 3.28% 3.12% 2.49% 1Q26 2Q26 3Q26 4Q26 2027 & Beyond Product # of Accounts Balance ($ millions) Average Balance per Account Checking 50,648 2,371 46,821 Savings 28,163 769 27,300 CDs 22,270 1,177 52,835 Total Retail Deposits 101,081 $ 4,317 $ 42,707

 
1-4 Family 30.1% Home Equity 1.0% Multi-family 45.5% CRE 17.2% Construction 3.2% C&I 3.0% Diversified Loan Portfolio Loan Trend 1 As of December 31, 2025. Source: S&P Global Market Intelligence & Company Filings. 9 QTD Yield on Loans 4.67% New York 32.8% New Jersey 55.5% Pennsylvania 6.2% Other 5.4% Geographic Distribution1 Progressing Portfolio Diversification: Commercial business and home-equity loans increased supporting the Company’s ongoing transition to a more balanced loan mix. Loan yields increased 13bps year over year to 4.67% due to the ongoing repricing of the existing portfolio. Highlights LTV 59.8% Loan Composition1 ($ millions) $1,765 $1,761 $1,749 $1,749 $1,731 $47 $50 $51 $54 $59 $2,723 $2,733 $2,710 $2,641 $2,619 $950 $988 $987 $989 $990 $177 $175 $178 $190 $182 $136 $140 $139 $142 $170 $5,800 $5,850 $5,815 $5,768 $5,753 1-4 Family Home Equity Multi-family CRE Construction C&I

 
Opportunity to Drive Margin Expansion 10 Multifamily / CRE Loan Repricing Opportunity1 CRE Portfolio Reprice: Loans reprice based on the 5-Year Treasury plus spread or contractual terms. Interest Income Upside: Repricing through 2029 has the potential to generate material cumulative annual interest income growth, assuming similar loan replacement. Yield Enhancement Opportunity: Maturing loans enable strategic redeployment into higher-yielding assets, optimizing portfolio returns. 1 Excludes coupon greater than 6%. Based on a calendar year view. 2 Repricing Rate: Maturing loans assume treasury + a spread and Repricing loans assume contractual terms. Source: Company Filings ($ thousands) Highlights 2 $225,577 $444,208 $88,771 $238,384 $173,412 $272,045 $71,114 $55,264 3.70% 3.74% 3.97% 3.89% 6.62% 6.70% 6.21% 6.47% 2026 2027 2028 2029 Maturing Repricing Current Rate Repricing Rate (if repriced 1/2/26) Implied Spread

 
Majority NYC Free Market 40.0% Outside NYC 54.8% Fully NYC Rent Regulated 1.8% Majority NYC Rent Regulated 3.4% Multifamily Loan Portfolio Multifamily Loan Portfolio Composition1 Source: Company Filings 1 As of December 31, 2025. 11 NYC Multifamily Loan Portfolio by Location Strong Asset Quality: Proven resilience across multiple credit cycles. Diversified Exposure: <50% of Multifamily in NYC; only 5% majority rent-regulated. Near-Term Maturities: 21.5% of NYC Multifamily loans reprice or mature within 12 months. Total MF $2.6B New York City (“NYC”) Multifamily1 Highlights ($ in millions) NYC Multifamily Portfolio: $1.2 billion Average Loan Balance: $3.28 million Weighted Average LTV: 60.9% Nonperforming Loans / Total MF Loans: 1.48% Next 12 Months of Maturity & Repricing: $254.7 million

 
CRE Loan Detail Source: Company Filings. 1 As of December 31, 2025. 12 Retail 27.0% Mixed Use 25.3% Office 13.5% Industrial 18.4% Specialty & Other 11.9% Medical 4.0% Total CRE $990M New Jersey 56.6% Brooklyn 8.0% New York (Ex. Brooklyn) 26.3% Pennsylvania 4.2% Other 4.9% LTV 52.5% CRE Portfolio by Collateral Type1 CRE Loan Geographic Distribution1

 
Manhattan 19.9% New York (Excl. Manhattan) 14.0% New Jersey 57.1% Other 9.0% Office Portfolio 1 As of December 31, 2025. Source: Company Filings. 13 Office Portfolio by Contractual Maturity1 13.5% of total CRE portfolio or $134 million Average loan size of $1.9 million ($ millions) Office Loan Geographic Distribution1 LTV 49.0% DSCR 1.8x Total Office $134M $11 $34 $17 $9 $27 $36 2026 2027 2028 2029 2030 2031+

 
Track Record of Strong Credit Performance 1 Data provided by Federal Reserve Bank of St. Louis. Source: Company Filings. 14 Net Charge-offs to Average Total Loans Between 2006 and 2Q26, including the periods of the Global Financial Crisis and the COVID-19 Pandemic, KRNY maintained an average annual net charge-off rate of 8 basis points, significantly lower than the 47 basis points average for all commercial banks (US Banks not among the top 100)1. 0.00 0.50 1.00 1.50 2.00 2.50 3.00 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2Q26 Commercial Banks (not among top 100) KRNY Global Financial Crisis Hurricane Sandy COVID-19 Pandemic Cumulative charge-offs for KRNY between 2006 and 2Q26 were minimal, totaling $41.5 million.

 
0.49% 0.49% 0.59% 0.84% 0.67% 2Q25 3Q25 4Q25 1Q26 2Q26 Asset Quality Metrics Non-Performing Assets / Total Assets 1 As of December 31, 2025; dollar amounts shown in millions. Source: Company Filings. 15 Net Charge-Offs / Average Loans Non-Performing Loans1 Allowance for Credit Losses ACL by Loan Segment1 Increase driven by one loan in the collection process, which has since been fully repaid. 0.04% 0.03% 0.00% 0.07% 0.05% 2Q25 3Q25 4Q25 1Q26 2Q26 Multi-family $37.0 CRE $5.7 C&I $0.7 1-4 Family $4.8 Home Equity $0.3 Construction $2.8 $44.5 $44.5 $46.2 $45.1 $45.0 0.77% 0.76% 0.79% 0.78% 0.78% 2Q25 3Q25 4Q25 1Q26 2Q26 ACL Balance ACL to Total Loans Receivable NPL’s $51.3M $3,961 $1,792 0.89% 0.54% Commercial Consumer ACL by Loan Segment Loan Balance ACL/Loans ($ millions)

 
Investment Securities 1 As of December 31, 2025. 2 Comprised entirely of securitized federal education loans with 97% U.S. government guarantees. 3 Assumes 29% marginal tax rate. Source: Company Filings. 16 Securities Composition1 Securities Average Balance & Yield Trend As of December 31, 2025, the after-tax net unrecognized loss on securities held-to-maturity was $7.9 million, or 1.23% of tangible equity3 AFS/HTM & Effective Duration1 ($ millions) Corporate Bonds 13.5% CLO 21.3% ABS Student Loans 5.1% Agency MBS 59.7% Municipal Bonds 0.5% Total Effective Duration ≈ 3.8 years Floating rate securities ≈ 27.0% $1,296 $1,261 $1,236 $1,244 $1,192 4.28% 4.06% 4.00% 4.07% 3.91% 2Q25 3Q25 4Q25 1Q26 2Q26 Securities Portfolio Yield on Investments AFS , 89.9% HTM , 10.1% 2

 
Capital and Liquidity 1 Kearny Financial Corp. (NASDAQ: KRNY) Regulatory Capital Ratios as of December 31, 2025 are preliminary. 2 Well capitalized regulatory minimums are determined at Bank level. 3 As of December 31, 2025 Source: Company Filings. 17 HighlightsRegulatory Capital Ratios1,2,3 Equity Capitalization Level Liquidity Sources3 Well-Capitalized Status Maintained Regulatory ratios for both Company and Bank remain well above “well-capitalized” thresholds. Tangible Equity Strength Tangible equity / tangible assets: 8.56%, up 29 bps YoY, reinforcing balance sheet resilience. Significant Contingent Liquidity $2.7B secured borrowing capacity with FHLB & Fed. Available liquidity is 3.1x greater than the estimated uninsured deposits. ($ millions) 5.00% 6.50% 8.00% 10.00%9.41% 14.67% 14.67% 15.62% Tier 1 Leverage Common Equity Tier 1 Tier 1 Risk-Based Capital Total Risk-Based Capital Well Capitalized Regulatory Minimum KRNY 8.27% 8.31% 8.27% 8.47% 8.56% 9.63% 9.67% 9.64% 9.85% 9.94% 2Q25 3Q25 4Q25 1Q26 2Q26 Tangible Common Equity / Tangible Assets Equity / Assets Total Capacity Available Capacity Internal Sources: Free Securities and other 719$ 719$ External Sources: FRB 1,335 1,335 FHLB 2,070 650 Total Liquidity 3,866$ 2,704$

 
18 Conservative Underwriting Culture Comprehensive CRE / Multifamily Underwriting Highly disciplined LTV and DSCR standards Interest rates stressed at origination DSCR based on in-place rents, not projections, with conservative allowances for vacancy NOI underwritten to include forecasted expense increases and full taxes (where a tax abatement exists) Approval Authority & Underwriting Consistency Lending authority aggregated by borrower/group of related borrowers Technology ensures consistent and efficient underwriting and risk rating process Multi-faceted Loan Review & Stress Testing Semi-annual third-party loan-level stress testing and annual capital-based stress testing Quarterly third-party portfolio loan review with 65% of total portfolio reviewed on an annual basis Annual internal loan reviews on all commercial loans with balances of $2.5 million or greater Proactive Workout Process Dedicated team of portfolio managers and loan workout specialists Weekly meetings comprised of loan officers, credit personnel and special assets group to pre-emptively address delinquencies or problem credits Philosophy of aggressively addressing impaired assets in a timely fashion Senior Credit Officer Approval Management Loan Committee Approval Board Loan Committee Approval

 
Non-GAAP Reconciliation 19 Reconciliation of GAAP to Non-GAAP (Dollars and Shares in Thousands, Except Per Share Data) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Adjusted net income: Net income (GAAP) $9,449 $9,506 $6,769 $6,648 $6,566 Non-recurring transactions - net of tax: Branch consolidation expenses - 178 - - - Gain on sale of property held for sale - (532) - - - Adjusted net income $9,449 $9,152 $6,769 $6,648 $6,566 Calculation of pre-tax, pre-provision net revenue: Net income (GAAP) $9,449 $9,506 $6,769 $6,648 $6,566 Adjustments to net income (GAAP): Provision for income taxes $2,333 $2,461 $1,387 $1,200 $1,251 (Reversal of) provision for credit losses $567 ($82) $1,785 $366 $107 Pre-tax, pre-provision net revenue (non-GAAP) $12,349 $11,885 $9,941 $8,214 $7,924 Adjusted earnings per share: Weighted average common shares - basic 62,858 62,741 62,597 62,548 62,443 Weighted average common shares - diluted 63,061 62,951 62,755 62,713 62,576 Earnings per share - basic (GAAP) $0.15 $0.15 $0.11 $0.11 $0.11 Earnings per share - diluted (GAAP) $0.15 $0.15 $0.11 $0.11 $0.10 Adjusted earnings per share - basic (non-GAAP) $0.15 $0.15 $0.11 $0.11 $0.11 Adjusted earnings per share - diluted (non-GAAP) $0.15 $0.15 $0.11 $0.11 $0.10 Pre-tax, pre-provision net revenue per share: Pre-tax, pre-provision net revenue per share - basic (non-GAAP) $0.20 $0.19 $0.16 $0.13 $0.13 Pre-tax, pre-provision net revenue per share - diluted (non-GAAP) $0.20 $0.19 $0.16 $0.13 $0.13 Adjusted return on average assets: Total average assets $7,549,411 $7,619,319 $7,638,882 $7,633,734 $7,633,900 Return on average assets (GAAP) 0.50% 0.50% 0.35% 0.35% 0.34% Adjusted return on average assets (non-GAAP) 0.50% 0.48% 0.35% 0.35% 0.34% Adjusted return on average equity: Total average equity $754,918 $745,143 $744,187 $745,225 $747,850 Return on average equity (GAAP) 5.01% 5.10% 3.64% 3.57% 3.51% Adjusted return on average equity (non-GAAP) 5.01% 4.91% 3.64% 3.57% 3.51% For the quarter ended