XML 18 R8.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities:    
Net Income $ 9,842 $ 16,535
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 1,230 1,472
Net accretion of yield adjustments (614) (1,541)
Deferred income taxes 2,426 3,307
Amortization of intangible assets 134 144
Accretion of benefit plans’ unrecognized net gain (110) (33)
Provision for credit losses 245 670
Loans originated for sale (20,531) (39,657)
Proceeds from sale of mortgage loans held-for-sale 26,403 57,151
Gain on sale of mortgage loans held-for-sale, net (215) (340)
Realized gain on sale of loans receivable 0 (55)
Realized (gain) loss on disposition of premises and equipment (8) 52
Increase in cash surrender value of bank owned life insurance (1,666) (2,397)
ESOP and stock-based compensation expense 1,283 1,362
Increase in interest receivable (1,633) (3,351)
Increase in other assets (10,579) (5,340)
Increase in interest payable 2,134 2,980
Increase (decrease) in other liabilities 3,943 (10,254)
Net Cash Provided by Operating Activities 12,284 20,705
Purchases of:    
Investment securities available for sale (40,500) 0
Proceeds from:    
Repayments/calls/maturities of investment securities available for sale 24,287 31,288
Repayments/calls/maturities of investment securities held to maturity 2,705 2,324
Purchase of loans 0 (656)
Net decrease (increase) in loans receivable 87,794 (241,986)
Proceeds from sale of loans receivable 0 706
Purchase of interest rate contracts 0 (758)
Deletions (additions) to premises and equipment 219 (885)
Proceeds from death benefit of bank owned life insurance 0 1,884
Purchase of FHLB stock (15,913) (28,188)
Redemption of FHLB stock 6,138 30,375
Net Cash Provided by (Used in) Investing Activities 64,730 (205,896)
Cash Flows from Financing Activities:    
Net (decrease) increase in deposits (195,003) 246,120
Repayment of term FHLB advances (1,250,000) (1,420,000)
Proceeds from term FHLB advances 1,425,000 1,565,000
Net decrease in other short-term borrowings (55,000) (195,000)
Net decrease in advance payments by borrowers for taxes (1,431) (191)
Repurchase and cancellation of common stock of Kearny Financial Corp. (6,467) (8,693)
Cancellation of shares repurchased on vesting to pay taxes (399) (341)
Dividends paid (7,010) (7,243)
Net Cash (Used in) Provided by Financing Activities (90,310) 179,652
Net Decrease in Cash and Cash Equivalents (13,296) (5,539)
Cash and Cash Equivalents - Beginning 70,515 101,615
Cash and Cash Equivalents - Ending 57,219 96,076
Cash paid during the period for:    
Income taxes, net of refunds 4,069 6,018
Interest 39,874 12,909
Non-cash investing and financing activities:    
Transfers from loans receivable to loans receivable held-for-sale $ 0 $ 1,216