XML 39 R28.htm IDEA: XBRL DOCUMENT v3.24.1.u1

ALLOWANCE FOR CREDIT LOSSES (Tables)

9 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Allowance for Credit Losses and Balance of Loans Receivable

The following tables present the balance of the allowance for credit losses at March 31, 2024 and June 30, 2023. The balance of the allowance for credit losses is based on an expected loss methodology, referred to as the “CECL” methodology. The tables identify the valuation allowances attributable to specifically identified impairments on individually analyzed loans, including those acquired with deteriorated credit quality, as well as valuation allowances for impairments on loans collectively evaluated. The tables include the underlying balance of loans receivable applicable to each category as of those dates.

			Allowance for Credit Losses March 31, 2024
			Loans acquired with deteriorated credit quality individually analyzed						Loans acquired with deteriorated credit quality collectively evaluated						Loans individually analyzed						Loans collectively evaluated						Total allowance for credit losses
			(In Thousands)
Multi-family mortgage			$	—					$	—					$	9					$	24,187					$	24,196
Nonresidential mortgage			—						34						8						6,008						6,050
Commercial business			—						22						186						1,337						1,545
Construction			—						—						—						1,350						1,350
One- to four-family residential mortgage			12						101						12						11,250						11,375
Home equity loans			—						—						—						330						330
Other consumer			—						—						—						84						84
Total loans			$	12					$	157					$	215					$	44,546					$	44,930

			Balance of Loans Receivable March 31, 2024
			Loans acquired with deteriorated credit quality individually analyzed						Loans acquired with deteriorated credit quality collectively evaluated						Loans individually analyzed						Loans collectively evaluated						Total loans
			(In Thousands)
Multi-family mortgage			$	—					$	—					$	25,182					$	2,620,013					$	2,645,195
Nonresidential mortgage			298						2,207						4,190						958,844						965,539
Commercial business			—						4,523						4,189						138,614						147,326
Construction			—						5,735						—						223,722						229,457
One- to four-family residential mortgage			955						3,821						4,687						1,732,181						1,741,644
Home equity loans			24						—						21						42,686						42,731
Other consumer			—						—						—						3,198						3,198
Total loans			$	1,277					$	16,286					$	38,269					$	5,719,258					$	5,775,090
Unaccreted yield adjustments																											(16,754)
Loans receivable, net of yield adjustments																											$	5,758,336

			Allowance for Credit Losses June 30, 2023
			Loans acquired with deteriorated credit quality individually analyzed						Loans acquired with deteriorated credit quality collectively evaluated						Loans individually analyzed						Loans collectively evaluated						Total allowance for credit losses
			(In Thousands)
Multi-family mortgage			$	—					$	—					$	326					$	26,036					$	26,362
Nonresidential mortgage			—						70						3,001						5,882						8,953
Commercial business			—						9						20						1,411						1,440
Construction			—						—						—						1,336						1,336
One- to four-family residential mortgage			3						132						70						10,032						10,237
Home equity loans			—						—						—						338						338
Other consumer			—						—						—						68						68
Total loans			$	3					$	211					$	3,417					$	45,103					$	48,734

			Balance of Loans Receivable June 30, 2023
			Loans acquired with deteriorated credit quality individually analyzed						Loans acquired with deteriorated credit quality collectively evaluated						Loans individually analyzed						Loans collectively evaluated						Total loans
			(In Thousands)
Multi-family mortgage			$	—					$	—					$	19,114					$	2,742,661					$	2,761,775
Nonresidential mortgage			333						3,562						16,207						948,472						968,574
Commercial business			—						4,237						252						142,372						146,861
Construction			—						5,735						—						220,874						226,609
One- to four-family residential mortgage			570						4,433						6,101						1,689,455						1,700,559
Home equity loans			25						—						25						43,499						43,549
Other consumer			—						—						—						2,549						2,549
Total loans			$	928					$	17,967					$	41,699					$	5,789,882					$	5,850,476
Unaccreted yield adjustments																											(21,055)
Loans receivable, net of yield adjustments																											$	5,829,421

The following tables present the activity in the allowance for credit losses on loans for the three and nine months ended March 31, 2024 and 2023.

			Changes in the Allowance for Credit Losses Three Months Ended March 31, 2024
			Balance at December 31, 2023						Charge-offs						Recoveries						Provision for (reversal of) credit losses						Balance at March 31, 2024
			(In Thousands)
Multi-family mortgage			$	24,462					$	(35)					$	—					$	(231)					$	24,196
Nonresidential mortgage			5,888						(253)						—						415						6,050
Commercial business			1,293						(5)						7						250						1,545
Construction			1,171						—						—						179						1,350
One- to four-family residential mortgage			11,653						—						—						(278)						11,375
Home equity loans			330						—						—						—						330
Other consumer			70						—						—						14						84
Total loans			$	44,867					$	(293)					$	7					$	349					$	44,930

			Changes in the Allowance for Credit Losses Nine Months Ended March 31, 2024
			Balance at June 30, 2023						Charge-offs						Recoveries						Provision for (reversal of) credit losses						Balance at March 31, 2024
			(In Thousands)
Multi-family mortgage			$	26,362					$	(389)					$	—					$	(1,777)					$	24,196
Nonresidential mortgage			8,953						(5,975)						120						2,952						6,050
Commercial business			1,440						(352)						17						440						1,545
Construction			1,336						—						—						14						1,350
One- to four-family residential mortgage			10,237						(37)						113						1,062						11,375
Home equity loans			338						—						—						(8)						330
Other consumer			68						—						—						16						84
Total loans			$	48,734					$	(6,753)					$	250					$	2,699					$	44,930

			Changes in the Allowance for Credit Losses Three Months Ended March 31, 2023
			Balance at December 31, 2022						Charge-offs						Recoveries						Provision for (reversal of) credit losses						Balance at March 31, 2023
			(In Thousands)
Multi-family mortgage			$	27,498					$	(4)					$	—					$	(322)					$	27,172
Nonresidential mortgage			8,593						(6)						—						(343)						8,244
Commercial business			1,819						(205)						7						108						1,729
Construction			1,201						—						—						115						1,316
One- to four-family residential mortgage			9,355						—						2						908						10,265
Home equity loans			339						—						—						(12)						327
Other consumer			72						—						—						(3)						69
Total loans			$	48,877					$	(215)					$	9					$	451					$	49,122

			Changes in the Allowance for Credit Losses Nine Months Ended March 31, 2023
			Balance at June 30, 2022												Charge-offs						Recoveries												Provision for (reversal of) credit losses						Balance at March 31, 2023
			(In Thousands)
Multi-family mortgage			$	25,321											$	(399)					$	—											$	2,250					$	27,172
Nonresidential mortgage			10,590												(21)						—												(2,325)						8,244
Commercial business			1,792												(338)						24												251						1,729
Construction			1,486												—						—												(170)						1,316
One- to four-family residential mortgage			7,540												—						2												2,723						10,265
Home equity loans			245												—						—												82						327
Other consumer			84												—						4												(19)						69
Total loans			$	47,058											$	(758)					$	30											$	2,792					$	49,122

Allowance for Credit Losses on Financing Receivables Off Balance Sheet Commitments

The following table presents the activity in the allowance for credit losses on off balance sheet commitments recorded in other non-interest expense for the three and nine months ended March 31, 2024 and 2023:

			Three Months Ended March 31,												Nine Months Ended March 31,
			2024						2023						2024						2023
			(In Thousands)
Balance at beginning of the period			$	567					$	819					$	741					$	1,041
Provision for (reversal of) credit losses			198						(90)						24						(312)
Balance at end of the period			$	765					$	729					$	765					$	729

X

- Definition

Allowance for credit losses on financing receivables off balance sheet commitments.

+ References

No definition available.

+ Details

Name:	krny_AllowanceForCreditLossesOnFinancingReceivablesOffBalanceSheetCommitmentsTableTableTextBlock
Namespace Prefix:	krny_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-13

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B

+ Details

Name:	us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_ReceivablesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration