Short answer
Kearny Financial Corp. (KRNY) filed its fiscal 2026 10-K annual report with the SEC on Aug 21, 2026. It reported revenue of $324M (−0.1% year over year) and net income of $36M.
- Top risk flagged: Regulatory risk from FDIC/OCC/FRB Guidance due to non-owner occupied commercial real estate loans at 515% of risk-based capital
FY2026 key financial metrics · XBRL
- Revenue
- $324M
- −0.1% YoY
- Net income
- $36M
- +39.1% YoY
- EPS (diluted)
- $0.57
- +35.7% YoY
- ROE
- 4.7%
- +1.2 pp YoY
- Operating cash flow
- $38M
- +52.3% YoY
Source: XBRL data from the Kearny Financial Corp. (KRNY) FY2026 10-K on SEC EDGAR. USD.
Kearny Financial Corp. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Operates as a savings and loan holding company focused on relationship-based commercial banking with emphasis on real estate and commercial loans
- New emphasis on technology-enabled growth: increased investments in digital banking, AI, automation, and data analytics to enhance client experience and operational efficiency
- Strategic shift: intensified focus on expanding commercial loan production and treasury management to deepen small and mid-market business relationships
- Loan portfolio growth metric: total loans increased by $63.1 million to $5.88 billion, with commercial & industrial loans up 61% to $224 million vs prior year
- Noteworthy fact: consolidated branch network by closing three locations in fiscal 2026 amid ongoing digital strategy enhancement
Management Discussion & Analysis
- Revenue flat: Interest income $324.3M vs $324.5M YoY; net interest income up $20.3M to $155.3M driven by lower interest expense $169.0M vs $189.5M
- Operating margin improvement: Efficiency ratio 72.4% vs 78.3%; net interest margin 2.18% vs 1.88%; net income $36.3M vs $26.1M, ROA 0.48% vs 0.34%, ROE 4.8% vs 3.5%
- Best segment: Commercial and industrial loans growth $85.2M to $223.9M, driving loan portfolio remix strategy; worst segment multi-family mortgages decline $209.8M to $2.5B
- Capital allocation: Stockholders’ equity up $20.7M to $766.7M; dividends $28M; no explicit share buyback; capex details limited, digital banking investments noted in expense
- Outlook/risk: Management highlights sensitivity of ACL to economic changes; ACL stable at $45.5M (0.77% loans); liquidity ample with $114.8M cash, $964.4M securities; well-capitalized with Tier 1 ratio 14.3%
Risk Factors
- Regulatory risk from FDIC/OCC/FRB Guidance due to non-owner occupied commercial real estate loans at 515% of risk-based capital
- Geopolitical exposure to NY/NJ multifamily loans vulnerable to rent control laws limiting rental income growth in NYC
- Operational risk from reliance on third-party technology providers, including AI implementation risks causing processing errors or compliance issues
- Competitive threat from financial services technology companies challenging with differing regulatory environments and innovative products
- Financial risk from reliance on wholesale funding at $1.9 billion (24.8% of total assets) affecting liquidity and funding costs
Generated from the filing text; verify against the original. How to read a 10-K
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