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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net Income $ 56,177 $ 44,750
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 4,470 4,355
Net accretion of premiums, discounts and loan fees and costs (4,374) (11,257)
Deferred income taxes and valuation allowance 6,943 3,004
Bargain purchase gain 0 (3,053)
Amortization of intangible assets 539 797
Amortization of benefit plans unrecognized net loss 60 62
(Reversal of) provision for credit losses (11,740) 3,820
Gain on sale of other real estate owned 14 0
Loans originated for sale (151,783) (249,671)
Proceeds from sale of mortgage loans held-for-sale 167,713 270,147
Gain on sale of mortgage loans held-for-sale, net (2,260) (4,859)
Realized gain on sale/call of investment securities available for sale (4) (454)
Realized loss on debt extinguishment 0 796
Realized gain on sale of loans receivable (92) (352)
Realized (gain) loss on disposition of premises and equipment (356) 40
Increase in cash surrender value of bank owned life insurance (4,634) (4,722)
ESOP and stock-based compensation expense 5,062 5,716
Increase in interest receivable (155) (1,488)
Decrease (increase) in other assets 6,679 (1,021)
Increase (decrease) in interest payable 49 (406)
(Decrease) increase in other liabilities (15,125) 1,519
Net Cash Provided by Operating Activities 57,155 57,723
Purchases of:    
Investment securities available for sale (206,145) (865,163)
Investment securities held to maturity (86,406) 0
Proceeds from:    
Repayments/calls/maturities of investment securities available for sale 280,496 407,489
Repayments/calls/maturities of investment securities held to maturity 2,586 5,280
Sales of investment securities available for sale 0 44,842
Purchase of loans (112,485) (34,635)
Net decrease in loans receivable (36,895) (237,383)
Proceeds from sale of loans receivable 1,126 43,931
Proceeds from the sale of other real estate owned 494 0
Additions to premises and equipment (1,859) (2,889)
Proceeds from death benefit of bank owned life insurance 300 0
Proceeds from cash settlement of premises and equipment 599 3,401
Redemption of FHLB stock 5,618 16,421
Net cash acquired in acquisition 0 4,296
Net Cash Provided by (Used in) Investing Activities (152,571) (139,644)
Cash Flows from Financing Activities:    
Net (decrease) increase in deposits 43,903 485,417
Repayment of term FHLB advances (1,170,000) (2,257,796)
Proceeds from term FHLB advances 1,045,000 1,955,000
Net increase (decrease) in other short-term borrowings 290,000 (68,635)
Net increase (decrease) in advance payments by borrowers for taxes 1,227 (2,063)
Repurchase and cancellation of common stock of Kearny Financial Corp. (95,967) (80,567)
Cancellation of shares repurchased on vesting to pay taxes (932) (803)
Exercise of stock options 0 373
Dividends paid (23,291) (20,981)
Net Cash Provided by Financing Activities 89,940 9,945
Net (Decrease) in Cash and Cash Equivalents (5,476) (71,976)
Cash and Cash Equivalents - Beginning 67,855 180,967
Cash and Cash Equivalents - Ending 62,379 108,991
Cash paid during the period for:    
Income taxes, net of refunds 9,497 13,675
Interest 21,666 41,649
Non-cash investing and financing activities:    
Acquisition of other real estate owned in settlement of loans 703 0
Transfers from loans receivable to loans receivable held-for-sale 0 43,579
Fair value of assets acquired, net of cash and cash equivalents acquired 0 567,816
Fair value of liabilities assumed $ 0 $ 523,926