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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities:      
Net income $ (86,667,000) $ 40,811,000 $ 67,547,000
Goodwill impairment 97,370,000 0 0
Adjustment to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of premises and equipment 4,730,000 5,733,000 5,971,000
Net accretion of yield adjustments (2,516,000) (5,084,000) (5,669,000)
Deferred income taxes and valuation allowance (867,000) 2,789,000 5,023,000
Amortization of intangible assets 526,000 563,000 685,000
Amortization of benefit plans’ unrecognized net loss 69,000 358,000 1,003,000
Provision for (reversal of) credit losses 6,226,000 2,486,000 (7,518,000)
Loss (gain) on sale of other real estate owned 974,000 139,000 (5,000)
Loans originated for sale (75,576,000) (106,288,000) (179,727,000)
Proceeds from sale of mortgage loans held-for-sale 89,603,000 127,416,000 196,796,000
Loss (gain) on sale of mortgage loans held-for-sale, net 282,000 1,700,000 (2,415,000)
Realized loss on sale/call of securities available for sale 18,135,000 15,227,000 559,000
Realized gain on sale of loans receivable 0 (55,000) (124,000)
Realized gain on disposition of premises and equipment (11,000) (2,886,000) (363,000)
Increase in cash surrender value of bank owned life insurance (8,826,000) (8,645,000) (6,167,000)
ESOP and stock-based compensation expense 4,003,000 4,873,000 6,340,000
Increase in interest receivable (1,388,000) (7,667,000) (1,104,000)
(Increase) decrease in other assets (4,938,000) 2,833,000 7,922,000
Increase in interest payable 1,336,000 9,776,000 853,000
Increase (decrease) in other liabilities 1,506,000 (14,530,000) (8,306,000)
Net Cash Provided by Operating Activities 43,971,000 69,549,000 81,301,000
Purchases of:      
Investment securities available for sale (74,000,000) (166,483,000) (229,145,000)
Investment securities held to maturity (300,000) (40,398,000) (86,406,000)
Proceeds from:      
Repayments/calls/maturities of investment securities available for sale 132,981,000 124,687,000 330,152,000
Repayments/calls/maturities of investment securities held to maturity 10,886,000 12,095,000 6,116,000
Sale of investment securities available for sale 104,083,000 105,199,000 100,336,000
Purchase of loans (60,341,000) (702,000) (123,389,000)
Net decrease (increase) in loans receivable 141,035,000 (435,111,000) (467,236,000)
Proceeds from sale of loans receivable 0 706,000 1,450,000
Purchase of interest rate caps (2,065,000) (758,000) 0
Proceeds from sale of other real estate owned 11,982,000 315,000 708,000
Additions to premises and equipment (1,350,000) (1,355,000) (2,920,000)
Proceeds from death benefit of bank owned life insurance 3,478,000 4,997,000 300,000
Net surrender of bank owned life insurance 299,000 0 0
Proceeds from cash settlement of premises and equipment 0 3,480,000 612,000
Purchase of FHLB stock (68,606,000) (98,275,000) (30,382,000)
Redemption of FHLB stock 60,040,000 73,685,000 19,853,000
Net Cash Provided by (Used in) Investing Activities 258,122,000 (417,918,000) (479,951,000)
Cash Flows from Financing Activities:      
Net (decrease) increase in deposits (471,027,000) (232,804,000) 377,606,000
Repayment of term FHLB advances (6,197,500,000) (5,650,000,000) (4,100,000,000)
Proceeds from term FHLB advances 6,450,000,000 6,280,000,000 4,085,000,000
Net (decrease) increase in other short-term borrowings (50,000,000) (25,000,000) 230,000,000
Net (decrease) increase in advance payments by borrowers for taxes (929,000) 1,592,000 994,000
Repurchase and cancellation of common stock of Kearny Financial Corp. (11,240,000) (27,558,000) (129,520,000)
Cancellation of shares repurchased on vesting to pay taxes (484,000) (462,000) (977,000)
Dividends paid (27,564,000) (28,499,000) (30,693,000)
Net Cash (Used in) Provided by Financing Activities (308,744,000) 317,269,000 432,410,000
Net (Decrease) Increase in Cash and Cash Equivalents (6,651,000) (31,100,000) 33,760,000
Cash and Cash Equivalents - Beginning 70,515,000 101,615,000 67,855,000
Cash and Cash Equivalents - Ending 63,864,000 70,515,000 101,615,000
Cash paid during the year for:      
Income taxes, net of refunds 6,634,000 9,883,000 15,552,000
Interest 184,938,000 108,516,000 28,816,000
Non-cash investing and financing activities:      
Transfers from loans receivable to loans held-for-sale 10,754,000 3,545,000 27,036,000
Acquisition of other real estate owned in settlement of loans $ 0 $ 13,232,000 $ 703,000