8-K - KRNY - Equibles

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): July 24, 2025

_____________________________

KEARNY FINANCIAL CORP.

(Exact name of Registrant as Specified in Its Charter)

_____________________________

Maryland	001-37399	30-0870244
(State or Other Jurisdiction<br><br>of Incorporation)	(Commission File Number)	(IRS Employer<br><br>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 July 24, 2025, Kearny Financial Corp. (the “Company”), the holding company for Kearny Bank, issued a press release reporting its financial results for the period ended June 30, 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 July 24, 2025, 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 July 24, 2025, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.11 per share, payable on August 26, 2025, to stockholders of record as of August 12, 2025.

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	Press release dated July 24, 2025.
99.2	Kearny Financial Corp. investor presentation dated July 24, 2025.
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: July 24, 2025	By:	/s/ Sean Byrnes
		Sean Byrnes
		Executive Vice President and Chief Financial Officer

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

July 24, 2025

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 FOURTH QUARTER AND FISCAL YEAR END 2025 RESULTS

AND DECLARATION OF $0.11 PER SHARE CASH DIVIDEND

Fairfield, N.J., July 24, 2025 – Kearny Financial Corp. (NASDAQ GS: KRNY) (the “Company”), the holding company of Kearny Bank (the “Bank”), reported net income for the quarter ended June 30, 2025 of $6.8 million, or $0.11 per diluted share, compared to $6.6 million, or $0.11 per diluted share, for the quarter ended March 31, 2025.

For the fiscal year ended June 30, 2025, the Company reported net income of $26.1 million, or $0.42 per diluted share, compared to a net loss of $86.7 million, or $1.39 per diluted share, for the fiscal year ended June 30, 2024. Excluding the impact of a non-cash, after-tax, goodwill impairment of $95.3 million and other non-recurring transactions, adjusted net income for the fiscal year ended June 30, 2024 was $28.2 million, or $0.45 per diluted share.

The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.11 per share, payable on August 26, 2025, to stockholders of record as of August 12, 2025.

Craig L. Montanaro, President and Chief Executive Officer, commented, “We are pleased to report 23% growth in pre-tax, pre-provision earnings per share this quarter, driven by ten basis points of net interest margin expansion. In addition, credit quality remains exceptional, with negligible net charge-offs for both the quarter and the fiscal year.”

Mr. Montanaro continued, “These results reflect the successful execution of our strategy and the tailwinds provided by the natural repricing of our loan and time deposit portfolios. Looking ahead, we remain confident in our ability to deliver sustained earnings growth and continued margin expansion, creating long-term value for our shareholders.”

Fourth Quarter Highlights

•Net interest margin increased 10 basis points to 2.00%, while net interest income increased 5.3% to $35.8 million.

•Pre-tax, pre-provision earnings per share increased 23% to $0.16 per diluted share.

•Net charge-offs were less than 0.01% of average loans, reflecting strong underwriting and exceptional credit quality.

•Non-interest expense to average assets was 1.58%, reflecting disciplined expense management.

•The Company received regulatory approval to consolidate three branch locations, scheduled to close in October 2025. These closures are expected to have minimal impact on the Company’s financial results.

Balance Sheet

•Total assets were $7.74 billion at June 30, 2025, an increase of $7.3 million, or 0.1%, from March 31, 2025 and an increase of $57.0 million, or 0.7%, from June 30, 2024.

•Investment securities totaled $1.13 billion at June 30, 2025, an increase of $4.9 million, or 0.4%, from March 31, 2025 and a decrease of $75.4 million, or 6.2%, from June 30, 2024.

•Loans receivable totaled $5.81 billion at June 30, 2025, a decrease of $33.2 million, or 0.6%, from March 31, 2025 and an increase of $80.2 million, or 1.4%, from June 30, 2024.

•Deposits were $5.68 billion at June 30, 2025, a decrease of $32.1 million, or 0.6%, from March 31, 2025 and an increase of $517.1 million, or 10.0%, from June 30, 2024. The decrease from March 31, 2025 was primarily driven by a decline in interest bearing demand deposits, partially offset by an increase in certificates of deposits (“CDs”). The increase from June 30, 2024 was primarily driven by a reallocation from Federal Home Loan Bank (“FHLB”) advances into brokered CDs, reflecting more favorable funding costs, and growth in deposits from our branch network and digital channels.

•Borrowings were $1.26 billion at June 30, 2025, an increase of $42.5 million, or 3.5%, from March 31, 2025 and a decrease of $453.3 million, or 26.5%, from June 30, 2024.

•At June 30, 2025, the Company maintained available secured borrowing capacity with the FHLB and the Federal Reserve Discount Window of $2.22 billion, representing 28.7% of total assets.

Earnings

Net Interest Income and Net Interest Margin

•Net interest margin increased by 10 basis points to 2.00% for the quarter ended June 30, 2025 and declined six basis points to 1.88% for the year ended June 30, 2025. The quarterly improvement was driven by higher yields and average balances on loans receivable, a reduction in interest-bearing deposits, and broad-based declines in deposit rates. The year-over-year decline reflected higher costs on interest-bearing liabilities and a lower average balance of interest-earning assets, partially offset by improved asset yields and a reduction in the average balance of interest-bearing liabilities.

•For the quarter ended June 30, 2025, net interest income increased $1.8 million, or 5.3%, to $35.8 million from $34.0 million for the quarter ended March 31, 2025. Included in net interest income for the quarters ended June 30, 2025 and March 31, 2025, was purchase accounting accretion of $511,000 in each period and loan prepayment penalty income of $217,000 and $226,000, respectively.

•For the year ended June 30, 2025, net interest income decreased $7.7 million, or 5.4%, to $134.9 million from $142.6 million for the year ended June 30, 2024. Included in net interest income for the years ended June 30, 2025 and 2024, respectively, was purchase accounting accretion of $2.4 million and $2.6 million and loan prepayment penalty income of $783,000 and $879,000.

Non-Interest Income

•For the quarter ended June 30, 2025, non-interest income increased $429,000, or 9.4%, to $5.0 million from $4.6 million for the quarter ended March 31, 2025, primarily driven by increases in income from bank owned life insurance (“BOLI”), gain on sale of loans and electronic banking fees and charges.

•Income from BOLI increased $252,000 to $2.9 million for the quarter ended June 30, 2025 from $2.6 million for the quarter ended March 31, 2025, primarily driven by $223,000 in non-recurring payments on two life insurance policies in the current period. No such non-recurring items were recorded in the prior period.

•Gain on sale of loans increased $78,000 to $190,000 for the quarter ended June 30, 2025 from $112,000 for the quarter ended March 31, 2025.

•For the year ended June 30, 2025, non-interest income increased $21.0 million to $19.1 million from a loss of $2.0 million for the year ended June 30, 2024. The increase was primarily attributable to the absence of an $18.1 million pre-tax loss related to the investment securities portfolio repositioning executed during December 2023 and the absence of a non-recurring pre-tax loss of $884,000 attributable to the sale of three related nonperforming commercial real estate loans held-for-sale in the year ended June 30, 2024. No such losses were recorded during the year ended June 30, 2025.

Non-Interest Expense

•For the quarter ended June 30, 2025, non-interest expense increased $503,000, or 1.7%, to $30.9 million from $30.4 million for the quarter ended March 31, 2025, primarily driven by increases in salary and benefits and other expenses, partially offset by a decrease in net occupancy expense.

•Salary and benefits expense increased $393,000 to $18.1 million for the quarter ended June 30, 2025 from $17.7 million for the quarter ended March 31, 2025, primarily driven by the absence of a $427,000 non-recurring decrease in stock-based compensation recorded in the prior period.

•Net occupancy expense of premises decreased $255,000 to $2.8 million for the quarter ended June 30, 2025 from $3.1 million for the quarter ended March 31, 2025, primarily driven by lower snow removal expenses recorded in the current period.

•Other expense increased $324,000 to $3.6 million for the quarter ended June 30, 2025 from $3.3 million for the quarter ended March 31, 2025, primarily due to a non-recurring increase in professional fees incurred during the period. The remaining changes in the other components of non-interest expense between comparative periods generally reflected normal operating fluctuations within those line items.

•For the year ended June 30, 2025, non-interest expense decreased $94.5 million, or 43.9%, to $120.6 million from $215.2 million for the year ended June 30, 2024, primarily reflecting the absence of a non-cash goodwill impairment recognized in the prior year period. Excluding the goodwill impairment, adjusted non-interest expense for the year ended June 30, 2025 increased $2.8 million, or 2.4%, from $117.8 million in the prior year period. The increase was primarily attributable to an increase in salary and benefits expense attributable to annual merit increases and higher incentive compensation.

Income Taxes

•Income tax expense totaled $1.4 million for the quarter ended June 30, 2025 compared to $1.2 million for the quarter ended March 31, 2025, resulting in an effective tax rate of 17.0% and 15.3%, respectively.

•Income tax expense totaled $4.9 million for the year ended June 30, 2025 compared to $5.9 million for the year ended June 30, 2024. The decrease in income tax expense was primarily driven by the absence of a $5.7 million tax expense related to the surrender of BOLI policies in the prior year period, partially offset by higher pre-tax income in the current year period.

Asset Quality

•The balance of non-performing assets increased $7.9 million to $45.6 million, or 0.59% of total assets, at June 30, 2025, from $37.7 million, or 0.49% of total assets, at March 31, 2025. The balance of non-performing assets was $39.9 million, or 0.52% of total assets, at June 30, 2024. The increase from March 31, 2025 was primarily driven by two multifamily relationships totaling $6.1 million that were placed on non-accrual status.

•Net charge-offs totaled $49,000, or less than 0.01% of average loans, on an annualized basis, for the quarter ended June 30, 2025, compared to $368,000, or 0.03% of average loans, on an annualized basis, for the quarter ended March 31, 2025. For the year ended June 30, 2025, net charge-offs totaled $1.1 million, or 0.02% of average loans, compared to $10.0 million, or 0.17% of average loans, for the year ended June 30, 2024.

•For the quarter ended June 30, 2025, the Company recorded a provision for credit losses of $1.8 million, compared to $366,000 for the quarter ended March 31, 2025. The provision for credit losses for the quarter ended June 30, 2025 was driven by an $805,000 reserve related to a non-performing wholesale commercial and industrial (“C&I”) loan, representing the final wholesale C&I loan in the portfolio. Additionally, the current quarter’s provision included a $1.1 million increase in reserves on individually evaluated loans. For the years ended June 30, 2025 and June 30, 2024, the Company recorded a provision for credit losses of $2.4 million and $6.2 million, respectively.

•The allowance for credit losses (“ACL”) was $46.2 million, or 0.79% of total loans, at June 30, 2025, an increase of $1.7 million from $44.5 million, or 0.76% of total loans, at March 31, 2025. The ACL was $44.9 million, or 0.78% of total loans, at June 30, 2024.

Capital

•For the quarter ended June 30, 2025, book value per share and tangible book value per share decreased $0.03, or 0.3%, to $11.55 and $9.77, respectively, compared to the prior period.

•At June 30, 2025, total stockholders’ equity included after-tax net unrealized losses on securities available for sale of $79.6 million, partially offset by after-tax unrealized gains on derivatives of $6.9 million. After-tax net unrecognized losses on securities held to maturity of $9.6 million were not reflected in total stockholders’ equity.

•At June 30, 2025, the Company’s tangible equity to tangible assets ratio equaled 8.27% and the regulatory capital ratios of both the Company and the Bank were in excess of the levels required by federal banking regulators to be classified as “well-capitalized” under regulatory guidelines.

This earnings release should be read in conjunction with Kearny Financial Corp.’s Q4 2025 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.

Non-GAAP Measures

This earnings release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”). Where non-GAAP disclosures are used in this press release, the comparable GAAP measure, as well as a reconciliation to the comparable GAAP measure, is provided in the accompanying tables. Management believes that these non-GAAP measures provide useful information that is important to an understanding of the results of the Company’s core business as well as provide information standard in the financial institution industry. Non-GAAP measures should not be considered a substitute for financial measures determined in accordance with GAAP and investors should consider the Company’s performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company.

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

Linked-Quarter Comparative Financial Analysis

Kearny Financial Corp.

Consolidated Balance Sheets

(Unaudited)

(Dollars and Shares in Thousands,<br>Except Per Share Data)	June 30,<br>2025			March 31,<br>2025			Variance <br>or Change			Variance <br>or Change Pct.
Assets
Cash and cash equivalents	$	167,269		$	126,095		$	41,174		32.7	%
Securities available for sale	1,012,969			1,003,393			9,576			1.0	%
Securities held to maturity	120,217			124,859			(4,642)			-3.7	%
Loans held-for-sale	5,931			6,187			(256)			-4.1	%
Loans receivable	5,812,937			5,846,175			(33,238)			-0.6	%
Less: allowance for credit losses on loans	(46,191)			(44,455)			1,736			3.9	%
Net loans receivable	5,766,746			5,801,720			(34,974)			-0.6	%
Premises and equipment	43,897			44,192			(295)			-0.7	%
Federal Home Loan Bank stock	64,261			62,261			2,000			3.2	%
Accrued interest receivable	28,098			28,521			(423)			-1.5	%
Goodwill	113,525			113,525			—			—	%
Core deposit intangible	1,436			1,554			(118)			-7.6	%
Bank owned life insurance	304,717			303,629			1,088			0.4	%
Deferred income taxes, net	55,203			52,913			2,290			4.3	%
Other assets	56,181			64,292			(8,111)			-12.6	%
Total assets	$	7,740,450		$	7,733,141		$	7,309		0.1	%
Liabilities
Deposits:
Non-interest-bearing	$	582,045		$	587,118		$	(5,073)		-0.9	%
Interest-bearing	5,093,172			5,120,230			(27,058)			-0.5	%
Total deposits	5,675,217			5,707,348			(32,131)			-0.6	%
Borrowings	1,256,491			1,213,976			42,515			3.5	%
Advance payments by borrowers for taxes	19,317			19,981			(664)			-3.3	%
Other liabilities	43,463			43,723			(260)			-0.6	%
Total liabilities	6,994,488			6,985,028			9,460			0.1	%
Stockholders' Equity
Common stock	646			646			—			—	%
Paid-in capital	494,546			494,131			415			0.1	%
Retained earnings	341,744			341,921			(177)			-0.1	%
Unearned ESOP shares	(18,970)			(19,457)			487			2.5	%
Accumulated other comprehensive loss	(72,004)			(69,128)			(2,876)			-4.2	%
Total stockholders' equity	745,962			748,113			(2,151)			-0.3	%
Total liabilities and stockholders' equity	$	7,740,450		$	7,733,141		$	7,309		0.1	%
Consolidated capital ratios
Equity to assets	9.64		%	9.67		%	-0.03		%
Tangible equity to tangible assets (1)	8.27		%	8.31		%	-0.04		%
Share data
Outstanding shares	64,577			64,580			(3)			-0.0	%
Book value per share	$	11.55		$	11.58		$	(0.03)		-0.3	%
Tangible book value per share (2)	$	9.77		$	9.80		$	(0.03)		-0.3	%

_________________________

(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.

Kearny Financial Corp.

Consolidated Statements of Income

(Unaudited)

(Dollars and Shares in Thousands,<br>Except Per Share Data)		Three Months Ended						Variance <br>or Change			Variance <br>or Change Pct.
	June 30,<br>2025		March 31,<br>2025
Interest income
Loans		$	66,485		$	64,768		$	1,717		2.7	%
Taxable investment securities		12,322			12,738			(416)			-3.3	%
Tax-exempt investment securities		49			55			(6)			-10.9	%
Other interest-earning assets		1,549			1,773			(224)			-12.6	%
Total interest income		80,405			79,334			1,071			1.3	%
Interest expense
Deposits		33,607			34,912			(1,305)			-3.7	%
Borrowings		10,955			10,380			575			5.5	%
Total interest expense		44,562			45,292			(730)			-1.6	%
Net interest income		35,843			34,042			1,801			5.3	%
Provision for credit losses		1,785			366			1,419			387.7	%
Net interest income after provision for credit losses		34,058			33,676			382			1.1	%
Non-interest income
Fees and service charges		655			573			82			14.3	%
Gain on sale of loans		190			112			78			69.6	%
Income from bank owned life insurance		2,869			2,617			252			9.6	%
Electronic banking fees and charges		442			391			51			13.0	%
Other income		835			869			(34)			-3.9	%
Total non-interest income		4,991			4,562			429			9.4	%
Non-interest expense
Salaries and employee benefits		18,093			17,700			393			2.2	%
Net occupancy expense of premises		2,820			3,075			(255)			-8.3	%
Equipment and systems		4,030			3,921			109			2.8	%
Advertising and marketing		615			609			6			1.0	%
Federal deposit insurance premium		1,395			1,450			(55)			-3.8	%
Directors' compensation		307			326			(19)			-5.8	%
Other expense		3,633			3,309			324			9.8	%
Total non-interest expense		30,893			30,390			503			1.7	%
Income before income taxes		8,156			7,848			308			3.9	%
Income taxes		1,387			1,200			187			15.6	%
Net income		$	6,769		$	6,648		$	121		1.8	%
Net income per common share (EPS)
Basic		$	0.11		$	0.11		$	—
Diluted		$	0.11		$	0.11		$	—
Dividends declared
Cash dividends declared per common share		$	0.11		$	0.11		$	—
Cash dividends declared		$	6,946		$	6,933		$	13
Dividend payout ratio		102.6		%	104.3		%	-1.7		%
Weighted average number of common shares outstanding
Basic		62,597			62,548			49
Diluted		62,755			62,713			42

Kearny Financial Corp.

Average Balance Sheet Data

(Unaudited)

(Dollars in Thousands)		Three Months Ended						Variance <br>or Change			Variance <br>or Change Pct.
	June 30,<br>2025		March 31,<br>2025
Assets
Interest-earning assets:
Loans receivable, including loans held for sale		$	5,830,421		$	5,805,045		$	25,376		0.4	%
Taxable investment securities		1,227,825			1,251,612			(23,787)			-1.9	%
Tax-exempt investment securities		8,039			9,135			(1,096)			-12.0	%
Other interest-earning assets		117,622			110,736			6,886			6.2	%
Total interest-earning assets		7,183,907			7,176,528			7,379			0.1	%
Non-interest-earning assets		454,975			457,206			(2,231)			-0.5	%
Total assets		$	7,638,882		$	7,633,734		$	5,148		0.1	%
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Deposits:
Interest-bearing demand		$	2,342,523		$	2,405,974		$	(63,451)		-2.6	%
Savings		754,192			751,243			2,949			0.4	%
Certificates of deposit (retail)		1,215,661			1,215,767			(106)			-0.0	%
Certificates of deposit (brokered)		744,345			730,612			13,733			1.9	%
Total interest-bearing deposits		5,056,721			5,103,596			(46,875)			-0.9	%
Borrowings:
Federal Home Loan Bank advances		1,083,902			1,028,958			54,944			5.3	%
Other borrowings		107,582			93,389			14,193			15.2	%
Total borrowings		1,191,484			1,122,347			69,137			6.2	%
Total interest-bearing liabilities		6,248,205			6,225,943			22,262			0.4	%
Non-interest-bearing liabilities:
Non-interest-bearing deposits		582,085			602,647			(20,562)			-3.4	%
Other non-interest-bearing liabilities		64,405			59,919			4,486			7.5	%
Total non-interest-bearing liabilities		646,490			662,566			(16,076)			-2.4	%
Total liabilities		6,894,695			6,888,509			6,186			0.1	%
Stockholders' equity		744,187			745,225			(1,038)			-0.1	%
Total liabilities and stockholders' equity		$	7,638,882		$	7,633,734		$	5,148		0.1	%
Average interest-earning assets to average interest-bearing liabilities		114.98		%	115.27		%	-0.29		%	-0.3	%

Kearny Financial Corp.

Performance Ratio Highlights

(Unaudited)

	Three Months Ended				Variance <br>or Change
	June 30,<br>2025		March 31,<br>2025
Average yield on interest-earning assets:
Loans receivable, including loans held for sale	4.56	%	4.46	%	0.10	%
Taxable investment securities	4.01	%	4.07	%	-0.06	%
Tax-exempt investment securities (1)	2.43	%	2.43	%	—	%
Other interest-earning assets	5.27	%	6.40	%	-1.13	%
Total interest-earning assets	4.48	%	4.42	%	0.06	%
Average cost of interest-bearing liabilities:
Deposits:
Interest-bearing demand	2.63	%	2.73	%	-0.10	%
Savings	1.33	%	1.30	%	0.03	%
Certificates of deposit (retail)	3.56	%	3.73	%	-0.17	%
Certificates of deposit (brokered)	2.62	%	2.58	%	0.04	%
Total interest-bearing deposits	2.66	%	2.74	%	-0.08	%
Borrowings:
Federal Home Loan Bank advances	3.60	%	3.63	%	-0.03	%
Other borrowings	4.45	%	4.41	%	0.04	%
Total borrowings	3.68	%	3.70	%	-0.02	%
Total interest-bearing liabilities	2.85	%	2.91	%	-0.06	%
Interest rate spread (2)	1.62	%	1.51	%	0.11	%
Net interest margin (3)	2.00	%	1.90	%	0.10	%
Non-interest income to average assets (annualized)	0.26	%	0.24	%	0.02	%
Non-interest expense to average assets (annualized)	1.62	%	1.59	%	0.03	%
Efficiency ratio (4)	75.66	%	78.72	%	-3.06	%
Return on average assets (annualized)	0.35	%	0.35	%	—	%
Return on average equity (annualized)	3.64	%	3.57	%	0.07	%
Return on average tangible equity (annualized) (5)	4.36	%	4.28	%	0.08	%

_________________________

(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.

Year-to-Year Comparative Financial Analysis

Kearny Financial Corp.

Consolidated Balance Sheets

(Dollars and Shares in Thousands, <br>Except Per Share Data)	June 30,<br>2025			June 30,<br>2024			Variance<br>or Change			Variance <br>or Change Pct.
	(Unaudited)			(Audited)
Assets
Cash and cash equivalents	$	167,269		$	63,864		$	103,405		161.9	%
Securities available for sale	1,012,969			1,072,833			(59,864)			-5.6	%
Securities held to maturity	120,217			135,742			(15,525)			-11.4	%
Loans held-for-sale	5,931			6,036			(105)			-1.7	%
Loans receivable	5,812,937			5,732,787			80,150			1.4	%
Less: allowance for credit losses on loans	(46,191)			(44,939)			1,252			2.8	%
Net loans receivable	5,766,746			5,687,848			78,898			1.4	%
Premises and equipment	43,897			44,940			(1,043)			-2.3	%
Federal Home Loan Bank of New York stock	64,261			80,300			(16,039)			-20.0	%
Accrued interest receivable	28,098			29,521			(1,423)			-4.8	%
Goodwill	113,525			113,525			—			—	%
Core deposit intangible	1,436			1,931			(495)			-25.6	%
Bank owned life insurance	304,717			297,874			6,843			2.3	%
Deferred income tax assets, net	55,203			50,339			4,864			9.7	%
Other assets	56,181			98,708			(42,527)			-43.1	%
Total assets	$	7,740,450		$	7,683,461		$	56,989		0.7	%
Liabilities
Deposits:
Non-interest-bearing	$	582,045		$	598,366		$	(16,321)		-2.7	%
Interest-bearing	5,093,172			4,559,757			533,415			11.7	%
Total deposits	5,675,217			5,158,123			517,094			10.0	%
Borrowings	1,256,491			1,709,789			(453,298)			-26.5	%
Advance payments by borrowers for taxes	19,317			17,409			1,908			11.0	%
Other liabilities	43,463			44,569			(1,106)			-2.5	%
Total liabilities	6,994,488			6,929,890			64,598			0.9	%
Stockholders' Equity
Common stock	$	646		$	644		$	2		0.3	%
Paid-in capital	494,546			493,680			866			0.2	%
Retained earnings	341,744			343,326			(1,582)			-0.5	%
Unearned ESOP shares	(18,970)			(20,916)			1,946			9.3	%
Accumulated other comprehensive loss	(72,004)			(63,163)			(8,841)			-14.0	%
Total stockholders' equity	745,962			753,571			(7,609)			-1.0	%
Total liabilities and stockholders' equity	$	7,740,450		$	7,683,461		$	56,989		0.7	%
Consolidated capital ratios
Equity to assets	9.64		%	9.81		%	-0.17		%
Tangible equity to tangible assets (1)	8.27		%	8.43		%	-0.16		%
Share data
Outstanding shares	64,577			64,434			143			0.2	%
Book value per share	$	11.55		$	11.70		$	(0.15)		-1.3	%
Tangible book value per share (2)	$	9.77		$	9.90		$	(0.13)		-1.3	%

_________________________

(2)Tangible book value equals total stockholders' equity reduced by goodwill and core deposit intangible assets.

Kearny Financial Corp.

Consolidated Statements of Income

	Year Ended
(Dollars and Shares in Thousands, <br>Except Per Share Data)	June 30,<br>2025			June 30,<br>2024			Variance<br>or Change			Variance<br>or Change Pct.
	(Unaudited)			(Audited)
Interest income
Loans	$	262,992		$	256,007		$	6,985		2.7	%
Taxable investment securities	53,247			63,313			(10,066)			-15.9	%
Tax-exempt investment securities	234			336			(102)			-30.4	%
Other interest-earning assets	8,003			9,212			(1,209)			-13.1	%
Total Interest Income	324,476			328,868			(4,392)			-1.3	%
Interest expense
Deposits	140,258			122,414			17,844			14.6	%
Borrowings	49,275			63,860			(14,585)			-22.8	%
Total interest expense	189,533			186,274			3,259			1.7	%
Net interest income	134,943			142,594			(7,651)			-5.4	%
Provision for credit losses	2,366			6,226			(3,860)			-62.0	%
Net interest income after provision for credit losses	132,577			136,368			(3,791)			-2.8	%
Non-interest income
Fees and service charges	2,490			2,609			(119)			-4.6	%
Loss on sale and call of securities	—			(18,135)			18,135			100.0	%
Gain (loss) on sale of loans	806			(282)			1,088			385.8	%
Loss on sale of real estate owned	—			(974)			974			100.0	%
Income from bank owned life insurance	10,672			9,076			1,596			17.6	%
Electronic banking fees and charges	1,717			2,357			(640)			-27.2	%
Other income	3,367			3,356			11			0.3	%
Total non-interest income	19,052			(1,993)			21,045			1,055.9	%
Non-interest expense
Salaries and employee benefits	70,870			69,220			1,650			2.4	%
Net occupancy expense of premises	11,524			11,033			491			4.5	%
Equipment and systems	15,703			15,223			480			3.2	%
Advertising and marketing	1,877			1,396			481			34.5	%
Federal deposit insurance premium	5,911			5,980			(69)			-1.2	%
Directors' compensation	1,355			1,506			(151)			-10.0	%
Goodwill Impairment	—			97,370			(97,370)			-100.0	%
Other expense	13,390			13,423			(33)			-0.2	%
Total non-interest expense	120,630			215,151			(94,521)			-43.9	%
Income (loss) before income taxes	30,999			(80,776)			111,775			138.4	%
Income taxes	4,924			5,891			(967)			-16.4	%
Net income (loss)	$	26,075		$	(86,667)		$	112,742		130.1	%
Net income (loss) per common share (EPS)
Basic	$	0.42		$	(1.39)		$	1.81
Diluted	$	0.42		$	(1.39)		$	1.81
Dividends declared
Cash dividends declared per common share	$	0.44		$	0.44		$	—
Cash dividends declared	$	27,657		$	27,618		$	39
Dividend payout ratio	106.1		%	-31.9		%	138		%
Weighted average number of common shares outstanding
Basic	62,508			62,444			64
Diluted	62,716			62,444			272

Kearny Financial Corp.

Average Balance Sheet Data

(Unaudited)

	Year Ended
(Dollars in Thousands)	June 30,<br>2025			June 30,<br>2024			Variance<br>or Change			Variance<br>or Change Pct.
Assets
Interest-earning assets:
Loans receivable, including loans held for sale	$	5,789,583		$	5,752,496		$	37,087		0.6	%
Taxable investment securities	1,270,262			1,438,200			(167,938)			-11.7	%
Tax-exempt investment securities	9,791			14,718			(4,927)			-33.5	%
Other interest-earning assets	119,224			131,019			(11,795)			-9.0	%
Total interest-earning assets	7,188,860			7,336,433			(147,573)			-2.0	%
Non-interest-earning assets	459,986			541,859			(81,873)			-15.1	%
Total assets	$	7,648,846		$	7,878,292		$	(229,446)		-2.9	%
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Deposits:
Interest-bearing demand	$	2,335,972		$	2,308,893		$	27,079		1.2	%
Savings	721,115			662,981			58,134			8.8	%
Certificates of deposit (retail)	1,213,015			1,278,535			(65,520)			-5.1	%
Certificates of deposit (brokered)	689,011			500,147			188,864			37.8	%
Total interest-bearing deposits	4,959,113			4,750,556			208,557			4.4	%
Borrowings:
Federal Home Loan Bank Advances	1,131,662			1,458,941			(327,279)			-22.4	%
Other borrowings	149,041			184,768			(35,727)			-19.3	%
Total borrowings	1,280,703			1,643,709			(363,006)			-22.1	%
Total interest-bearing liabilities	6,239,816			6,394,265			(154,449)			-2.4	%
Non-interest-bearing liabilities:
Non-interest-bearing deposits	597,197			595,266			1,931			0.3	%
Other non-interest-bearing liabilities	64,831			64,444			387			0.6	%
Total non-interest-bearing liabilities	662,028			659,710			2,318			0.4	%
Total liabilities	6,901,844			7,053,975			(152,131)			-2.2	%
Stockholders' equity	747,002			824,317			(77,315)			-9.4	%
Total liabilities and stockholders' equity	$	7,648,846		$	7,878,292		$	(229,446)		-2.9	%
Average interest-earning assets to average interest-bearing liabilities	115.21		%	114.73		%	0.48		%	0.4	%

Kearny Financial Corp.

Performance Ratio Highlights

(Unaudited)

	Year Ended
	June 30,<br>2025		June 30,<br>2024		Variance<br>or Change
Average yield on interest-earning assets:
Loans receivable, including loans held for sale	4.54	%	4.45	%	0.09	%
Taxable investment securities	4.19	%	4.40	%	-0.21	%
Tax-exempt investment securities (1)	2.39	%	2.28	%	0.11	%
Other interest-earning assets	6.71	%	7.03	%	-0.32	%
Total interest-earning assets	4.51	%	4.48	%	0.03	%
Average cost of interest-bearing liabilities:
Deposits:
Interest-bearing demand	2.86	%	2.91	%	-0.05	%
Savings	1.25	%	0.50	%	0.75	%
Certificates of deposit (retail)	3.87	%	3.27	%	0.60	%
Certificates of deposit (brokered)	2.54	%	2.03	%	0.51	%
Total interest-bearing deposits	2.83	%	2.58	%	0.25	%
Borrowings:
Federal Home Loan Bank Advances	3.71	%	3.70	%	0.01	%
Other borrowings	4.87	%	5.36	%	-0.49	%
Total borrowings	3.85	%	3.89	%	-0.04	%
Total interest-bearing liabilities	3.04	%	2.91	%	0.13	%
Interest rate spread (2)	1.47	%	1.57	%	-0.10	%
Net interest margin (3)	1.88	%	1.94	%	-0.06	%
Non-interest income to average assets	0.25	%	-0.03	%	0.28	%
Non-interest expense to average assets	1.58	%	2.73	%	-1.15	%
Efficiency ratio (4)	78.33	%	153.02	%	-74.69	%
Return on average assets	0.34	%	-1.10	%	1.44	%
Return on average equity	3.49	%	-10.51	%	14.00	%
Return on average tangible equity (5)	4.18	%	-13.64	%	17.82	%

_________________________

(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.

Five-Quarter Financial Trend Analysis

Kearny Financial Corp.

Consolidated Balance Sheets

(Dollars and Shares in Thousands,<br>Except Per Share Data)	June 30,<br>2025			March 31,<br>2025			December 31,<br>2024			September 30,<br>2024			June 30,<br>2024
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)			(Audited)
Assets
Cash and cash equivalents	$	167,269		$	126,095		$	141,554		$	155,574		$	63,864
Securities available for sale	1,012,969			1,003,393			1,018,279			1,070,811			1,072,833
Securities held to maturity	120,217			124,859			127,266			132,256			135,742
Loans held-for-sale	5,931			6,187			5,695			8,866			6,036
Loans receivable	5,812,937			5,846,175			5,791,758			5,784,246			5,732,787
Less: allowance for credit losses on loans	(46,191)			(44,455)			(44,457)			(44,923)			(44,939)
Net loans receivable	5,766,746			5,801,720			5,747,301			5,739,323			5,687,848
Premises and equipment	43,897			44,192			45,127			45,189			44,940
Federal Home Loan Bank stock	64,261			62,261			64,443			57,706			80,300
Accrued interest receivable	28,098			28,521			27,772			29,467			29,521
Goodwill	113,525			113,525			113,525			113,525			113,525
Core deposit intangible	1,436			1,554			1,679			1,805			1,931
Bank owned life insurance	304,717			303,629			301,339			300,186			297,874
Deferred income taxes, net	55,203			52,913			53,325			50,131			50,339
Other assets	56,181			64,292			84,080			67,540			98,708
Total assets	$	7,740,450		$	7,733,141		$	7,731,385		$	7,772,379		$	7,683,461
Liabilities
Deposits:
Non-interest-bearing	$	582,045		$	587,118		$	601,510		$	592,099		$	598,366
Interest-bearing	5,093,172			5,120,230			5,069,550			4,878,413			4,559,757
Total deposits	5,675,217			5,707,348			5,671,060			5,470,512			5,158,123
Borrowings	1,256,491			1,213,976			1,258,949			1,479,888			1,709,789
Advance payments by borrowers for taxes	19,317			19,981			17,986			17,824			17,409
Other liabilities	43,463			43,723			38,537			52,618			44,569
Total liabilities	6,994,488			6,985,028			6,986,532			7,020,842			6,929,890
Stockholders' Equity
Common stock	646			646			646			646			644
Paid-in capital	494,546			494,131			494,092			493,523			493,680
Retained earnings	341,744			341,921			342,155			342,522			343,326
Unearned ESOP shares	(18,970)			(19,457)			(19,943)			(20,430)			(20,916)
Accumulated other comprehensive loss	(72,004)			(69,128)			(72,097)			(64,724)			(63,163)
Total stockholders' equity	745,962			748,113			744,853			751,537			753,571
Total liabilities and stockholders' equity	$	7,740,450		$	7,733,141		$	7,731,385		$	7,772,379		$	7,683,461
Consolidated capital ratios
Equity to assets	9.64		%	9.67		%	9.63		%	9.67		%	9.81		%
Tangible equity to tangible assets (1)	8.27		%	8.31		%	8.27		%	8.31		%	8.43		%
Share data
Outstanding shares	64,577			64,580			64,580			64,580			64,434
Book value per share	$	11.55		$	11.58		$	11.53		$	11.64		$	11.70
Tangible book value per share (2)	$	9.77		$	9.80		$	9.75		$	9.85		$	9.90

_________________________

(2)Tangible book value equals total stockholders' equity reduced by goodwill and core deposit intangible assets.

Kearny Financial Corp.

Supplemental Balance Sheet Highlights

(Unaudited)

(Dollars in Thousands)	June 30,<br>2025			March 31,<br>2025			December 31,<br>2024			September 30,<br>2024			June 30,<br>2024
Loan portfolio composition:
Commercial loans:
Multi-family mortgage	$	2,709,654		$	2,733,406		$	2,722,623		$	2,646,187		$	2,645,851
Nonresidential mortgage	986,556			988,074			950,194			950,771			948,075
Commercial business	138,755			140,224			135,740			145,984			142,747
Construction	177,713			174,722			176,704			227,327			209,237
Total commercial loans	4,012,678			4,036,426			3,985,261			3,970,269			3,945,910
One- to four-family residential mortgage	1,748,591			1,761,465			1,765,160			1,768,230			1,756,051
Consumer loans:
Home equity loans	50,737			49,699			47,101			44,741			44,104
Other consumer	2,533			2,859			2,778			2,965			2,685
Total consumer loans	53,270			52,558			49,879			47,706			46,789
Total loans, excluding yield adjustments	5,814,539			5,850,449			5,800,300			5,786,205			5,748,750
Unaccreted yield adjustments	(1,602)			(4,274)			(8,542)			(1,959)			(15,963)
Loans receivable, net of yield adjustments	5,812,937			5,846,175			5,791,758			5,784,246			5,732,787
Less: allowance for credit losses on loans	(46,191)			(44,455)			(44,457)			(44,923)			(44,939)
Net loans receivable	$	5,766,746		$	5,801,720		$	5,747,301		$	5,739,323		$	5,687,848
Asset quality:
Nonperforming assets:
Accruing loans - 90 days and over past due	$	—		$	—		$	—		$	—		$	—
Nonaccrual loans	45,597			37,683			37,697			39,854			39,882
Total nonperforming loans	45,597			37,683			37,697			39,854			39,882
Nonaccrual loans held-for-sale	—			—			—			—			—
Other real estate owned	—			—			—			—			—
Total nonperforming assets	$	45,597		$	37,683		$	37,697		$	39,854		$	39,882
Nonperforming loans (% total loans)	0.78		%	0.64		%	0.65		%	0.69		%	0.70		%
Nonperforming assets (% total assets)	0.59		%	0.49		%	0.49		%	0.51		%	0.52		%
Classified loans	$	133,451		$	125,790		$	132,216		$	119,534		$	118,700
Allowance for credit losses on loans (ACL):
ACL to total loans	0.79		%	0.76		%	0.77		%	0.78		%	0.78		%
ACL to nonperforming loans	101.30		%	117.97		%	117.93		%	112.72		%	112.68		%
Net charge-offs	$	49		$	368		$	573		$	124		$	3,518
Average net charge-off rate (annualized)	0.00		%	0.03		%	0.04		%	0.01		%	0.25		%

Kearny Financial Corp.

Supplemental Balance Sheet Highlights

(Unaudited)

(Dollars in Thousands)	June 30,<br>2025			March 31,<br>2025			December 31,<br>2024			September 30,<br>2024			June 30,<br>2024
Funding composition:
Deposits:
Non-interest-bearing deposits	$	582,045		$	587,118		$	601,510		$	592,099		$	598,367
Interest-bearing demand	2,362,222			2,410,925			2,380,408			2,247,685			2,308,915
Savings	754,376			758,239			742,266			681,709			643,481
Certificates of deposit (retail)	1,218,920			1,218,479			1,213,887			1,215,746			1,199,127
Certificates of deposit (brokered)	757,654			732,587			732,989			733,273			408,234
Interest-bearing deposits	5,093,172			5,120,230			5,069,550			4,878,413			4,559,757
Total deposits	5,675,217			5,707,348			5,671,060			5,470,512			5,158,124
Borrowings:
Federal Home Loan Bank advances	1,106,491			1,028,976			1,028,949			1,209,888			1,534,789
Overnight borrowings	150,000			185,000			230,000			270,000			175,000
Total borrowings	1,256,491			1,213,976			1,258,949			1,479,888			1,709,789
Total funding	$	6,931,708		$	6,921,324		$	6,930,009		$	6,950,400		$	6,867,913
Loans as a % of deposits	101.7		%	101.8		%	101.4		%	105.1		%	110.4		%
Deposits as a % of total funding	81.9		%	82.5		%	81.8		%	78.7		%	75.1		%
Borrowings as a % of total funding	18.1		%	17.5		%	18.2		%	21.3		%	24.9		%
Uninsured deposits:
Uninsured deposits (reported) (1)	$	1,989,095		$	1,959,070		$	1,935,607		$	1,799,726		$	1,772,623
Uninsured deposits (adjusted) (2)	$	813,780		$	799,238		$	797,721		$	773,375		$	764,447

_________________________

(1)Uninsured deposits of Kearny Bank.

(2)Uninsured deposits of Kearny Bank adjusted to exclude deposits of its wholly-owned subsidiary and its holding company and collateralized deposits of state and local governments.

Kearny Financial Corp.

Consolidated Statements of Income (Loss)

(Unaudited)

	Three Months Ended
(Dollars and Shares in Thousands,<br>Except Per Share Data)	June 30,<br>2025			March 31,<br>2025			December 31,<br>2024			September 30,<br>2024			June 30,<br>2024
Interest income
Loans	$	66,485		$	64,768		$	65,408		$	66,331		$	65,819
Taxable investment securities	12,322			12,738			13,803			14,384			14,802
Tax-exempt investment securities	49			55			59			71			80
Other interest-earning assets	1,549			1,773			2,215			2,466			2,289
Total interest income	80,405			79,334			81,485			83,252			82,990
Interest expense
Deposits	33,607			34,912			36,721			35,018			32,187
Borrowings	10,955			10,380			12,152			15,788			17,527
Total interest expense	44,562			45,292			48,873			50,806			49,714
Net interest income	35,843			34,042			32,612			32,446			33,276
Provision for credit losses	1,785			366			107			108			3,527
Net interest income after provision for credit losses	34,058			33,676			32,505			32,338			29,749
Non-interest income
Fees and service charges	655			573			627			635			580
Gain on sale of loans	190			112			304			200			111
Income from bank owned life insurance	2,869			2,617			2,619			2,567			3,209
Electronic banking fees and charges	442			391			493			391			1,130
Other income	835			869			830			833			776
Total non-interest income	4,991			4,562			4,873			4,626			5,806
Non-interest expense
Salaries and employee benefits	18,093			17,700			17,579			17,498			17,266
Net occupancy expense of premises	2,820			3,075			2,831			2,798			2,738
Equipment and systems	4,030			3,921			3,892			3,860			3,785
Advertising and marketing	615			609			311			342			480
Federal deposit insurance premium	1,395			1,450			1,503			1,563			1,532
Directors' compensation	307			326			361			361			360
Goodwill impairment	—			—			—			—			97,370
Other expense	3,633			3,309			3,084			3,364			3,020
Total non-interest expense	30,893			30,390			29,561			29,786			126,551
Income (loss) before income taxes	8,156			7,848			7,817			7,178			(90,996)
Income taxes	1,387			1,200			1,251			1,086			(917)
Net income (loss)	$	6,769		$	6,648		$	6,566		$	6,092		$	(90,079)
Net income (loss) per common share (EPS)
Basic	$	0.11		$	0.11		$	0.11		$	0.10		$	(1.45)
Diluted	$	0.11		$	0.11		$	0.10		$	0.10		$	(1.45)
Dividends declared
Cash dividends declared per common share	$	0.11		$	0.11		$	0.11		$	0.11		$	0.11
Cash dividends declared	$	6,946		$	6,933		$	6,933		$	6,896		$	6,903
Dividend payout ratio	102.6		%	104.3		%	105.6		%	113.2		%	-7.7		%
Weighted average number of common shares outstanding
Basic	62,597			62,548			62,443			62,389			62,254
Diluted	62,755			62,713			62,576			62,420			62,330

Kearny Financial Corp.

Average Balance Sheet Data

(Unaudited)

	Three Months Ended
(Dollars in Thousands)	June 30,<br>2025			March 31,<br>2025			December 31,<br>2024			September 30,<br>2024			June 30,<br>2024
Assets
Interest-earning assets:
Loans receivable, including loans held-for-sale	$	5,830,421		$	5,805,045		$	5,762,053		$	5,761,593		$	5,743,008
Taxable investment securities	1,227,825			1,251,612			1,285,800			1,314,945			1,343,541
Tax-exempt investment securities	8,039			9,135			9,711			12,244			13,737
Other interest-earning assets	117,622			110,736			116,354			131,981			128,257
Total interest-earning assets	7,183,907			7,176,528			7,173,918			7,220,763			7,228,543
Non-interest-earning assets	454,975			457,206			459,982			467,670			466,537
Total assets	$	7,638,882		$	7,633,734		$	7,633,900		$	7,688,433		$	7,695,080
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Deposits:
Interest-bearing demand	$	2,342,523		$	2,405,974		$	2,314,378		$	2,282,608		$	2,310,521
Savings	754,192			751,243			711,801			668,240			631,622
Certificates of deposit (retail)	1,215,661			1,215,767			1,216,948			1,203,770			1,208,101
Certificates of deposit (brokered)	744,345			730,612			730,773			551,819			405,697
Total interest-bearing deposits	5,056,721			5,103,596			4,973,900			4,706,437			4,555,941
Borrowings:
Federal Home Loan Bank advances	1,083,902			1,028,958			1,085,455			1,325,583			1,507,192
Other borrowings	107,582			93,389			156,522			237,011			228,461
Total borrowings	1,191,484			1,122,347			1,241,977			1,562,594			1,735,653
Total interest-bearing liabilities	6,248,205			6,225,943			6,215,877			6,269,031			6,291,594
Non-interest-bearing liabilities:
Non-interest-bearing deposits	582,085			602,647			604,915			599,095			589,438
Other non-interest-bearing liabilities	64,405			59,919			65,258			69,629			62,978
Total non-interest-bearing liabilities	646,490			662,566			670,173			668,724			652,416
Total liabilities	6,894,695			6,888,509			6,886,050			6,937,755			6,944,010
Stockholders' equity	744,187			745,225			747,850			750,678			751,070
Total liabilities and stockholders' equity	$	7,638,882		$	7,633,734		$	7,633,900		$	7,688,433		$	7,695,080
Average interest-earning assets to average<br>interest-bearing liabilities	114.98		%	115.27		%	115.41		%	115.18		%	114.89		%

Kearny Financial Corp.

Performance Ratio Highlights

	Three Months Ended
	June 30,<br>2025		March 31,<br>2025		December 31,<br>2024		September 30,<br>2024		June 30,<br>2024
Average yield on interest-earning assets:
Loans receivable, including loans held-for-sale	4.56	%	4.46	%	4.54	%	4.61	%	4.58	%
Taxable investment securities	4.01	%	4.07	%	4.29	%	4.38	%	4.41	%
Tax-exempt investment securities (1)	2.43	%	2.43	%	2.42	%	2.32	%	2.32	%
Other interest-earning assets	5.27	%	6.40	%	7.62	%	7.47	%	7.14	%
Total interest-earning assets	4.48	%	4.42	%	4.54	%	4.61	%	4.59	%
Average cost of interest-bearing liabilities:
Deposits:
Interest-bearing demand	2.63	%	2.73	%	2.96	%	3.13	%	3.06	%
Savings	1.33	%	1.30	%	1.29	%	1.05	%	0.63	%
Certificates of deposit (retail)	3.56	%	3.73	%	4.06	%	4.12	%	3.95	%
Certificates of deposit (brokered)	2.62	%	2.58	%	2.70	%	2.18	%	1.59	%
Total interest-bearing deposits	2.66	%	2.74	%	2.95	%	2.98	%	2.83	%
Borrowings:
Federal Home Loan Bank advances	3.60	%	3.63	%	3.78	%	3.82	%	3.86	%
Other borrowings	4.45	%	4.41	%	4.88	%	5.28	%	5.24	%
Total borrowings	3.68	%	3.70	%	3.91	%	4.04	%	4.04	%
Total interest-bearing liabilities	2.85	%	2.91	%	3.15	%	3.24	%	3.16	%
Interest rate spread (2)	1.62	%	1.51	%	1.39	%	1.37	%	1.43	%
Net interest margin (3)	2.00	%	1.90	%	1.82	%	1.80	%	1.84	%
Non-interest income to average assets (annualized)	0.26	%	0.24	%	0.26	%	0.24	%	0.30	%
Non-interest expense to average assets (annualized)	1.62	%	1.59	%	1.55	%	1.55	%	6.58	%
Efficiency ratio (4)	75.66	%	78.72	%	78.86	%	80.35	%	323.81	%
Return on average assets (annualized)	0.35	%	0.35	%	0.34	%	0.32	%	-4.68	%
Return on average equity (annualized)	3.64	%	3.57	%	3.51	%	3.25	%	-47.97	%
Return on average tangible equity (annualized) (5)	4.36	%	4.28	%	4.21	%	3.89	%	3.33	%

_________________________

(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.

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,<br>Except Per Share Data)	June 30,<br>2025			March 31,<br>2025			December 31,<br>2024			September 30,<br>2024			June 30,<br>2024
Adjusted net income:
Net income (loss) (GAAP)	$	6,769		$	6,648		$	6,566		$	6,092		$	(90,079)
Non-recurring transactions - net of tax:
Net effect of bank-owned life insurance restructure	—			—			—			—			392
Goodwill impairment	—			—			—			—			95,283
Adjusted net income	$	6,769		$	6,648		$	6,566		$	6,092		$	5,596
Calculation of pre-tax, pre-provision net revenue:
Net income (loss) (GAAP)	$	6,769		$	6,648		$	6,566		$	6,092		$	(90,079)
Adjustments to net income (GAAP):
Provision for income taxes	1,387			1,200			1,251			1,086			(917)
Provision for credit losses	1,785			366			107			108			3,527
Pre-tax, pre-provision net revenue (non-GAAP)	$	9,941		$	8,214		$	7,924		$	7,286		$	(87,469)
Adjusted earnings per share:
Weighted average common shares - basic	62,597			62,548			62,443			62,389			62,254
Weighted average common shares - diluted	62,755			62,713			62,576			62,420			62,330
Earnings per share - basic (GAAP)	$	0.11		$	0.11		$	0.11		$	0.10		$	(1.45)
Earnings per share - diluted (GAAP)	$	0.11		$	0.11		$	0.10		$	0.10		$	(1.45)
Adjusted earnings per share - basic (non-GAAP)	$	0.11		$	0.11		$	0.11		$	0.10		$	0.09
Adjusted earnings per share - diluted (non-GAAP)	$	0.11		$	0.11		$	0.10		$	0.10		$	0.09
Pre-tax, pre-provision net revenue per share:
Pre-tax, pre-provision net revenue per share - basic<br>(non-GAAP)	$	0.16		$	0.13		$	0.13		$	0.12		$	(1.41)
Pre-tax, pre-provision net revenue per share - diluted<br>(non-GAAP)	$	0.16		$	0.13		$	0.13		$	0.12		$	(1.41)
Adjusted return on average assets:
Total average assets	$	7,638,882		$	7,633,734		$	7,633,900		$	7,688,433		$	7,695,080
Return on average assets (GAAP)	0.35		%	0.35		%	0.34		%	0.32		%	-4.68		%
Adjusted return on average assets (non-GAAP)	0.35		%	0.35		%	0.34		%	0.32		%	0.29		%
Adjusted return on average equity:
Total average equity	$	744,187		$	745,225		$	747,850		$	750,678		$	751,070
Return on average equity (GAAP)	3.64		%	3.57		%	3.51		%	3.25		%	-47.97		%
Adjusted return on average equity (non-GAAP)	3.64		%	3.57		%	3.51		%	3.25		%	2.98		%

Kearny Financial Corp.

Reconciliation of GAAP to Non-GAAP

(Unaudited)

	Three Months Ended
(Dollars and Shares in Thousands,<br>Except Per Share Data)	June 30,<br>2025			March 31,<br>2025			December 31,<br>2024			September 30,<br>2024			June 30,<br>2024
Adjusted return on average tangible equity:
Total average equity	$	744,187		$	745,225		$	747,850		$	750,678		$	751,070
Less: average goodwill	(113,525)			(113,525)			(113,525)			(113,525)			(113,525)
Less: average other intangible assets	(1,513)			(1,636)			(1,761)			(1,886)			(2,006)
Total average tangible equity	$	629,149		$	630,064		$	632,564		$	635,267		$	635,539
Return on average tangible equity (non-GAAP)	4.36		%	4.28		%	4.21		%	3.89		%	3.33		%
Adjusted return on average tangible equity (non-GAAP)	4.36		%	4.28		%	4.21		%	3.89		%	3.58		%
Adjusted non-interest expense ratio:
Non-interest expense (GAAP)	$	30,893		$	30,390		$	29,561		$	29,786		$	126,551
Non-recurring transactions:
Goodwill impairment	—			—			—			—			(97,370)
Non-interest expense (non-GAAP)	$	30,893		$	30,390		$	29,561		$	29,786		$	29,181
Non-interest expense ratio (GAAP)	1.62		%	1.59		%	1.55		%	1.55		%	6.58		%
Adjusted non-interest expense ratio (non-GAAP)	1.62		%	1.59		%	1.55		%	1.55		%	1.52		%
Adjusted efficiency ratio:
Non-interest expense (non-GAAP)	$	30,893		$	30,390		$	29,561		$	29,786		$	29,181
Net interest income (GAAP)	$	35,843		$	34,042		$	32,612		$	32,446		$	33,276
Total non-interest income (GAAP)	4,991			4,562			4,873			4,626			5,806
Non-recurring transactions:
Net effect of bank-owned life insurance restructure	—			—			—			—			392
Total revenue (non-GAAP)	$	40,834		$	38,604		$	37,485		$	37,072		$	39,474
Efficiency ratio (GAAP)	75.66		%	78.72		%	78.86		%	80.35		%	323.81		%
Adjusted efficiency ratio (non-GAAP)	75.66		%	78.72		%	78.86		%	80.35		%	73.92		%

Kearny Financial Corp.

Reconciliation of GAAP to Non-GAAP

(Unaudited)

	Year Ended
(Dollars and Shares in Thousands,<br>Except Per Share Data)	June 30,<br>2025			June 30,<br>2024
Adjusted net income:
Net income (loss) (GAAP)	$	26,075		$	(86,667)
Non-recurring transactions - net of tax:
Net effect of sale and call of securities	—			12,876
Net effect of bank-owned life insurance contract restructure	—			6,678
Goodwill impairment	—			95,283
Adjusted net income	$	26,075		$	28,170
Calculation of pre-tax, pre-provision net revenue:
Net income (loss) (GAAP)	$	26,075		$	(86,667)
Adjustments to net income (GAAP):
Provision for income taxes	4,924			5,891
Provision for credit losses	2,366			6,226
Pre-tax, pre-provision net revenue (non-GAAP)	$	33,365		$	(74,550)
Adjusted earnings per share:
Weighted average common shares - basic	62,508			62,444
Weighted average common shares - diluted	62,716			62,444
Earnings per share - basic (GAAP)	$	0.42		$	(1.39)
Earnings per share - diluted (GAAP)	$	0.42		$	(1.39)
Adjusted earnings per share - basic (non-GAAP)	$	0.42		$	0.45
Adjusted earnings per share - diluted (non-GAAP)	$	0.42		$	0.45
Pre-tax, pre-provision net revenue per share:
Pre-tax, pre-provision net revenue per share - basic (non-GAAP)	$	0.53		$	(1.19)
Pre-tax, pre-provision net revenue per share - diluted (non-GAAP)	$	0.53		$	(1.19)
Adjusted return on average assets:
Total average assets	$	7,648,846		$	7,878,292
Return on average assets (GAAP)	0.34		%	-1.10		%
Adjusted return on average assets (non-GAAP)	0.34		%	0.36		%
Adjusted return on average equity:
Total average equity	$	747,002		$	824,317
Return on average equity (GAAP)	3.49		%	-10.51		%
Adjusted return on average equity (non-GAAP)	3.49		%	3.42		%
Adjusted return on average tangible equity:
Total average equity	$	747,002		$	824,317
Less: average goodwill	(113,525)			(186,685)
Less: average other intangible assets	(1,700)			(2,209)
Total average tangible equity	$	631,777		$	635,423
Return on average tangible equity (non-GAAP)	4.18		%	-13.64		%
Adjusted return on average tangible equity (non-GAAP)	4.18		%	4.43		%

Kearny Financial Corp.

Reconciliation of GAAP to Non-GAAP

(Unaudited)

	Year Ended
(Dollars in Thousands)	June 30,<br>2025			June 30,<br>2024
Adjusted non-interest expense ratio:
Non-interest expense (GAAP)	$	120,630		$	215,151
Non-routine transactions:
Goodwill impairment	—			(97,370)
Non-interest expense (non-GAAP)	$	120,630		$	117,781
Non-interest expense ratio (GAAP)	1.58		%	2.73		%
Adjusted non-interest expense ratio (non-GAAP)	1.58		%	1.50		%
Adjusted efficiency ratio:
Non-interest expense (non-GAAP)	$	120,630		$	117,781
Net interest income (GAAP)	$	134,943		$	142,594
Total non-interest income (GAAP)	19,052			(1,993)
Non-routine transactions:
Net effect of sale and call of securities	—			18,135
Net effect of bank-owned life insurance contract restructure	—			965
Total revenue (non-GAAP)	$	153,995		$	159,701
Efficiency ratio (GAAP)	78.33		%	153.02		%
Adjusted efficiency ratio (non-GAAP)	78.33		%	73.75		%

krny-20250724xexx992xfin

July 24, 2025 I N V E S T O R P R E S E N T A T I O N F O U R T H Q U A R T E R F I S C A L 2 0 2 5 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 regarding financial institutions (including laws concerning taxation, banking, securities and insurance), • 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. Company Overview NASDAQ: KRNY Founded: 1884 Assets: $7.7 billion Loans $5.8 billion Deposits $5.7 billion TBV Per Share: $9.77 Market Cap: $417.2 million1 1 As of June 30, 2024 2 As of June 30, 2024 Source: S&P Global Market Intelligence & Company Filings 3 Branch/Office Footprint Company Profile Ranked among the top 10 New Jersey-based financial institutions by assets and deposits. Operates 43 full-service branches across 12 counties in New Jersey and New York City. Active acquirer, having completed seven whole-bank acquisitions since 1999. Source: Company Filings 1 As of June 30, 2025. 3

4 Founded Kearny, NJ 1884 Obtained Federal Charter 1941 South Bergen Savings Bank Acquired 1999 Pulaski Bancorp Acquired 2003 West Essex Bank Acquired 2004 Completed First-Step Mutual Conversion & IPO of $218.2M 2005 Central Jersey Bancorp Acquired 2011 Atlas Bank Acquired 2014 Formed the KearnyBank foundation funded with $10M 2015 Completed Second-Step Conversion and $717.5M Stock Offering 2015 Converted to NJ State - Chartered Savings Bank 2017 Clifton Bancorp Acquired 2018 MSB Financial Corp. Acquired 2020 Introduced Private Client Services 2021 Established Kearny Investment Services 2022 141 Years: Franchise Milestones “Serving our Communities and Clients” 4

4Q25 Financial Highlights 1 GAAP to Adjusted reconciliation on page 22. No adjustments for this quarter. 2 Excludes Yield Adjustments. Source: Company Filings. 5 Net Income GAAP Adjusted1 $6.8 million $6.8 million Basic/Diluted EPS GAAP Adjusted1 $0.11 $0.11 Net Interest Income CET-1 Ratio $35.8 million 14.49% Total Assets $7.7 billion Total Deposits Total Loans2 $5.7 billion $5.8 billion Sustained Earnings Growth Net income rose to $6.8 million, with EPS steady at $0.11, reflecting consistent performance and disciplined financial management. Pre-Tax, Pre-Provision EPS Growth Pre-tax, pre-provision earnings per share increased 23% to $0.16 per diluted share, highlighting improved core profitability and operating leverage. Net Interest Margin Expansion Net interest income grew 5.3% as NIM improved 10 bps to 2.00%, driven by improving loan yields and deposit cost management. Diversified Non-Interest Revenue Non-interest income rose 9.4%, led by higher BOLI income, loan sale gains, and stronger fee revenue. Efficiency Expense Management Non-interest expense to average assets was 1.62%, reflecting disciplined expense management. Strong Credit Quality Net charge-offs were less than 0.01% of average loans reflecting strong underwriting and portfolio quality. Branch Network Optimization Regulatory approval received to consolidate three branches; scheduled to close by October 2025, with minimal expected financial impact.

Sustained Earnings Growth and Margin Expansion Net Interest Income & Net Interest Margin 6 Earnings Metrics 2 $32,446 $32,612 $34,042 $35,843 1.80% 1.82% 1.90% 2.00% 1Q25 2Q25 3Q25 4Q25 Net Interest Income Net Interest Margin $6,092 $6,566 $6,648 $6,769 $7,286 $7,924 $8,214 $9,941 $0.10 $0.10 $0.11 $0.11 $0.12 $0.13 $0.13 $0.16 1Q25 2Q25 3Q25 4Q25 Net income Pre-tax, pre-provision net revenue Earnings per share, Diluted ($) Pre-tax, pre-provision earnings per share ($) 1 See “Non-GAAP Financial Information” for reconciliation on page 22. Source: Company Filings. 1 ($ thousands) ($ thousands, except per share data)

Capital Strength Equity Capitalization Level 1 Kearny Financial Corp. (NASDAQ: KRNY) Regulatory Capital Ratios as of June 30, 2025 are preliminary. 2 Well capitalized regulatory minimums are determined at Bank level. Source: Company Filings. 7 Regulatory Capital Ratios1,2 8.43% 8.31% 8.27% 8.31% 8.27% 9.81% 9.67% 9.63% 9.67% 9.64% 4Q24 1Q25 2Q25 3Q25 4Q25 Tangible Common Equity / Tangible Assets Equity / Assets 5.00% 6.50% 8.00% 10.00% 9.23% 14.49% 14.49% 15.37% Tier 1 Leverage Common Equity Tier 1 Tier 1 Risk-Based Capital Total Risk-Based Capital Well Capitalized Regulatory Minimum

Track Record of Strong Credit Performance 1 Data provided by Federal Reserve Bank of St. Louis. Source: Company Filings. 8 Net Charge-offs to Average Total Loans Between 2006 and 2025, including the periods of the Global Financial Crisis and the COVID-19 Pandemic, KRNY maintained an average annual net charge-off rate of 9 basis points, significantly lower than the 48 basis points average for all commercial banks (US Banks not among the top 100)1. Cumulative charge-offs for KRNY between 2006 and 4Q25 were minimal, totaling $39.8 million. 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Commercial Banks (not among top 100) KRNY Global Hurricane Sandy COVID-19 Pandemic

Diversified Loan Portfolio Loan Composition1 Geographic Distribution1 Loan Trend 1 As of June 30, 2025. Source: S&P Global Market Intelligence & Company Filings. 9 ($ millions) 1-4 Family 30.1% Home Equity 0.9% Multi-family 46.6% CRE 17.0% Construction 3.1% C&I 2.4% QTD Yield on Loans 4.56% LTV 60.4% $1,756 $1,768 $1,765 $1,761 $1,749 $2,646 $2,646 $2,723 $2,733 $2,710 $948 $951 $950 $988 $987 $5,749 $5,786 $5,800 $5,850 $5,815 4Q24 1Q25 2Q25 3Q25 4Q25 1-4 Family Home Equity Multi-family CRE Construction C&I New York 33.2% New Jersey 55.8% Pennsylvania 6.2% Other 4.9%

Opportunity to Drive Margin Expansion 10 Multifamily / CRE Loan Repricing Opportunity1 Loan Repricing: CRE loan portfolio reprices based on the 5-Year Treasury rate plus a spread or contractual terms. Projected Interest Income Growth: Assuming replacement into similar loan type, repricing through 2029 presents the opportunity to generate a cumulative annual increase in interest income of ~$55 million. Yield Optimization / Loan Portfolio Remix Opportunity: As loans mature, capital can be strategically reallocated to higher- yielding asset classes, enhancing overall 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 $77,697 $230,412 $454,798 $90,119 $239,559 $29,532 $186,309 $278,782 $72,927 $56,041 3.60% 3.71% 3.75% 3.97% 3.88% 6.54% 7.03% 7.14% 6.56% 6.83% Remainder 2025 2026 2027 2028 2029 Maturing Repricing Current Rate Repricing Rate (if repriced 7/14/25) Average Implied Spread of 3.19% ($ thousands) 2

Multifamily Loan Portfolio Multifamily Loan Portfolio Composition1 New York City (“NYC”) Multifamily1 Source: Company Filings 1 As of June 30, 2025. 11 Observations $ in millions NYC Multifamily Loan Portfolio by Location Outstanding Asset Quality: Exceptional asset quality across multiple credit cycles. Diversified Portfolio: Less than half of the Multifamily portfolio is in NYC, with only 5% rent-regulated. Upcoming Loan Maturities: 13% of NYC Multifamily loans maturing or repricing over the next 12 months. Majority NYC Free Market 39.9% Outside NYC 54.8% Fully NYC Rent Regulated 1.9% Majority NYC Rent Regulated 3.4% Total MF $2.7B Loan Value % Brooklyn $810 64.3% Queens 169 13.4% Manhattan 140 11.1% Bronx 142 11.2% Total NYC MF Loan Portfolio $1,261 100.0% NYC Multifamily Portfolio: $1.2 billion Average Loan Balance: $3.41 million Weighted Average LTV: 61.6% Nonperforming Loans / Total MF Loans: 1.23% Next 12 Months of Maturity & Repricing: $155.6 million

CRE Loan Detail Source: Company Filings. 1 As of June 30, 2025. 12 CRE Portfolio by Collateral Type1 CRE Loan Geographic Distribution1 Retail 28.9% Mixed Use 24.8% Office 13.4% Industrial 18.5% Specialty & Other 10.4% Medical 4.0% Total CRE $987M New Jersey 55.8% Brooklyn 9.2% New York (Ex. Brooklyn) 26.2% Pennsylvania 4.3% Other 4.5% LTV 50.5%

Office Portfolio 1 As of June 30, 2025. Source: Company Filings. 13 Office Portfolio by Contractual Maturity1 13.4% of total CRE portfolio or $132 million Average loan size of $1.9 million ($ millions) Office Loan Geographic Distribution1 LTV 49.6% DSCR 1.8x Manhattan 17.1% New York (Excl. Manhattan) 14.2% New Jersey 65.4% Other 3.3% Total Office $132M $3 $9 $34 $17 $9 $60 $0 $10 $20 $30 $40 $50 $60 $70 2025 2026 2027 2028 2029 2030+

Asset Quality Metrics Non-Performing Assets / Total Assets 1 As of June 30, 2025; amounts shown in millions. Source: Company Filings. 14 Net Charge-Offs / Average Loans 0.52% 0.51% 0.49% 0.49% 0.59% 4Q24 1Q25 2Q25 3Q25 4Q25 Multi-family $30.9 CRE $5.8 C&I $2.2 1-4 Family $6.6 Home Equity $0.2 NPL’s $45.6M Non-Performing Loans1 0.25% 0.01% 0.04% 0.03% 0.00% 4Q24 1Q25 2Q25 3Q25 4Q25 Increase driven by a single C&I relationship

Asset Quality Metrics Allowance for Credit Losses 1 As of June 30, 2025. 2 Commercial includes Multifamily, CRE, C&I and Construction loans. Consumer includes Residential and Home Equity Loans. Source: Company Filings. 15 ACL by Loan Segment1 ($ millions) $44.9 $44.9 $44.5 $44.5 $46.2 0.78% 0.78% 0.77% 0.76% 0.79% 4Q24 1Q25 2Q25 3Q25 4Q25 ACL Balance ACL to Total Loans Receivable $4,013 $1,802 0.88% 0.60% Commercial Consumer Loan Balance ACL/Loans

Granular Deposit Franchise 1 As of June 30, 2025. Source: Company Filings. 16 Non-Maturity Deposit Mix1 ($ millions) 21.5% 13.4% 13.3% 41.6% 10.3% Deposit Composition Deposit Growth $1,199 $1,216 $1,214 $1,218 $1,219 $408 $733 $733 $733 $758 $643 $682 $742 $758 $754 $2,309 $2,248 $2,380 $2,411 $2,362 $598 $592 $602 $587 $582$5,158 $5,471 $5,671 $5,707 $5,675 4Q24 1Q25 2Q25 3Q25 4Q25 Retail CDs Wholesale CDs Savings Interest Bearing DDA Non-interest Bearing DDA Consumer 63.8% Commercial 22.0% Government 14.2%

Retail Deposit Detail 1 Quarters are based on a calendar year view. 2As of June 30, 2025. 3 Excludes brokered and state & local government deposits. Source: Company Filings. 17 Retail CD Maturities1 Retail Deposit Segmentation2,3 ($ millions) $285 $532 $275 $67 $60 3.64% 3.69% 3.70% 3.14% 2.03% 3Q25 4Q25 1Q26 2Q26 3Q26 & Beyond Product # of Accounts Balance ($ millions) Average Balance per Account Checking 52,351 $ 2,420 $ 46,224 Savings 29,873 754 25,225 CDs 23,146 1,205 52,064 Total Retail Deposits 105,370 $ 4,378 $ 41,554

Investment Securities 1 As of June 30, 2025. 2 Comprised entirely of securitized federal education loans with 97% U.S. government guarantees. 3 Assumes 29% marginal tax rate. Source: Company Filings. 18 Securities Composition1 Securities Average Balance & Yield Trend As of June 30, 2025, the after-tax net unrecognized loss on securities held- to-maturity was $9.6 million, or 1.52% of tangible equity3 AFS/HTM & Effective Duration ($ millions) 2 $1,357 $1,327 $1,296 $1,261 $1,236 4.39% 4.36% 4.28% 4.06% 4.00% 4Q24 1Q25 2Q25 3Q25 4Q25 Securities Portfolio Yield on Investments AFS , 89.4% HTM , 10.6% Total Effective Duration ≈ 3.7 years Floating rate securities ≈ 32.5% Corporate Bonds 12.4% CLO 28.6% ABS Student Loans 5.3% Agency MBS 53.2% Municipal Bonds 0.7%

Best-in-Class Operating Efficiency 1 Adjusted for previously disclosed goodwill impairment. Source: S&P Global Market Intelligence & Company Filings. 19 1.76% 1.73% 1.61% 1.55% 1.62% 1.69% 1.51% 1.50% 1.58% 1.40% 1.45% 1.50% 1.55% 1.60% 1.65% 1.70% 1.75% 1.80% 2017 2018 2019 2020 2021 2022 2023 2024 2025 Adjusted Non-interest Expense to Average Assets $68 $74 $75 $96 $114 $130 $131 $120 $132 1 21 41 61 81 101 121 2017 2018 2019 2020 2021 2022 2023 2024 4Q25 1.9x Deposits per Branch ($ millions) 1

20 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

Liquidity Available for Uninsured Deposits Estimated Uninsured Deposits Analysis1,2 1 Estimated amount of uninsured deposits reported in June 30, 2025 Call Report. 2 As of June 30, 2025. 21 Available liquidity is 2.7x greater than the estimated uninsured deposits, excluding the items mentioned above. Liquidity Capacity2 1 Estimated Uninsured Deposit Analysis ($ millions) Estimated Uninsured Deposits 1,989$ Less: Collateralized State & Local Government Deposits (523) Less: Bank's wholly-owned subsidiary & Holding Company Deposits (652) Estimated uninsured deposits excluding items above: 814$ Total Deposits 5,675$ Estimated uninsured deposits, excluding items above, as a % of Total Deposits 14.3% Sources of Liquidity ($ millions) Liquidity Capacity Funding Utilized Available Capacity Internal Sources: Free Securities and other 337$ -$ 337$ External Sources: FRB 1,191 - 1,191 FHLB 1,951 1,256 695 Total Liquidity 3,480$ 1,256$ 2,224$

Non-GAAP Reconciliation 22 Reconciliation of GAAP to Non-GAAP (Dollars and Shares in Thousands, Except Per Share Data) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Adjusted net income: Net income (loss) (GAAP) $6,769 $6,648 $6,566 $6,092 ($90,079) Non-recurring transactions - net of tax: Net effect of sale and call of securities - - - - - Net effect of bank-owned life insurance restructure - - - - 392 Goodwill impairment - - - - 95,283 Adjusted net income $6,769 $6,648 $6,566 $6,092 $5,596 Calculation of pre-tax, pre-provision net revenue: Net income (loss) (GAAP) $6,769 $6,648 $6,566 $6,092 ($90,079) Adjustments to net income (GAAP): Provision for income taxes $1,387 $1,200 $1,251 $1,086 ($917) Provision for credit losses $1,785 $366 $107 $108 $3,527 Pre-tax, pre-provision net revenue (non-GAAP) $9,941 $8,214 $7,924 $7,286 ($87,469) Adjusted earnings per share: Weighted average common shares - basic 62,597 62,548 62,443 62,389 62,254 Weighted average common shares - diluted 62,755 62,713 62,576 62,420 62,330 Earnings per share - basic (GAAP) $0.11 $0.11 $0.11 $0.10 ($1.45) Earnings per share - diluted (GAAP) $0.11 $0.11 $0.10 $0.10 ($1.45) Adjusted earnings per share - basic (non-GAAP) $0.11 $0.11 $0.11 $0.10 $0.09 Adjusted earnings per share - diluted (non-GAAP) $0.11 $0.11 $0.10 $0.10 $0.09 Pre-tax, pre-provision net revenue per share: Pre-tax, pre-provision net revenue per share - basic (non-GAAP) $0.16 $0.13 $0.13 $0.12 ($1.41) Pre-tax, pre-provision net revenue per share - diluted (non-GAAP) $0.16 $0.13 $0.13 $0.12 ($1.41) Adjusted return on average assets: Total average assets $7,638,882 $7,633,734 $7,633,900 $7,688,433 $7,695,080 Return on average assets (GAAP) 0.35% 0.35% 0.34% 0.32% -4.68% Adjusted return on average assets (non-GAAP) 0.35% 0.35% 0.34% 0.32% 0.29% Adjusted return on average equity: Total average equity $744,187 $745,225 $747,850 $750,678 $751,070 Return on average equity (GAAP) 3.64% 3.57% 3.51% 3.25% -47.97% Adjusted return on average equity (non-GAAP) 3.64% 3.57% 3.51% 3.25% 2.98% For the quarter ended