XML 18 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities:    
Net (Loss) Income $ (3,985) $ 18,486
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 2,426 2,931
Net accretion of yield adjustments (1,299) (3,352)
Deferred income taxes 3,638 3,536
Amortization of intangible assets 268 288
Accretion of benefit plans’ unrecognized net gain (124) (39)
Provision for credit losses 2,350 2,341
Loss on write down of other real estate owned 974 0
Loans originated for sale (32,812) (56,456)
Proceeds from sale of mortgage loans held-for-sale 39,446 75,492
Gain on sale of mortgage loans held-for-sale, net (319) (474)
Realized loss on sale/call of investment securities available for sale 18,135 15,227
Realized gain on sale of loans receivable 0 (55)
Realized gain on disposition of premises and equipment (11) (2,886)
Increase in cash surrender value of bank owned life insurance (2,827) (5,459)
ESOP and stock-based compensation expense 2,563 2,675
Increase in interest receivable (2,125) (6,902)
Increase in other assets (8,745) (5,511)
(Decrease) increase in interest payable (296) 6,268
Increase (decrease) in other liabilities 1,889 (10,053)
Net Cash Provided by Operating Activities 19,146 36,057
Purchases of:    
Investment securities available for sale (64,000) (166,483)
Investment securities held to maturity (300) (40,398)
Proceeds from:    
Repayments/calls/maturities of investment securities available for sale 57,430 70,793
Repayments/calls/maturities of investment securities held to maturity 4,740 4,855
Sales of investment securities available for sale 104,083 105,199
Purchase of loans (49,652) (656)
Net decrease (increase) in loans receivable 125,769 (583,893)
Proceeds from sale of loans receivable 0 706
Purchase of interest rate contracts (887) (758)
Deletions (additions) to premises and equipment (34) (668)
Proceeds from death benefit of bank owned life insurance 277 4,963
Purchase of bank owned life insurance (5,000) 0
Proceeds from cash settlement of premises and equipment 0 3,480
Purchase of FHLB stock (35,388) (64,638)
Redemption of FHLB stock 23,750 42,760
Net Cash Provided by (Used in) Investing Activities 160,788 (624,738)
Cash Flows from Financing Activities:    
Net (decrease) increase in deposits (309,532) 109,294
Repayment of term FHLB advances (3,375,000) (2,865,000)
Proceeds from term FHLB advances 3,525,000 3,470,000
Net increase (decrease) in other short-term borrowings 10,000 (123,000)
Net (decrease) increase in advance payments by borrowers for taxes (1,596) 561
Repurchase and cancellation of common stock of Kearny Financial Corp. (11,240) (14,438)
Cancellation of shares repurchased on vesting to pay taxes (399) (341)
Dividends paid (13,822) (14,350)
Net Cash (Used in) Provided by Financing Activities (176,589) 562,726
Net Increase (Decrease) in Cash and Cash Equivalents 3,345 (25,955)
Cash and Cash Equivalents - Beginning 70,515 101,615
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance 73,860 75,660
Cash paid during the period for:    
Income taxes, net of refunds 4,319 8,318
Interest 89,090 37,279
Non-cash investing and financing activities:    
Acquisition of other real estate owned in settlement of loans 0 13,232
Transfers from loans receivable to loans held-for-sale 10,754 2,628
Unsettled surrender of bank owned life insurance policies $ 44,311 $ 0