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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:      
Net Income $ 67,547,000 $ 63,233,000 $ 44,965,000
Adjustment to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of premises and equipment 5,971,000 5,862,000 4,647,000
Net accretion of premiums, discounts and loan fees and costs (5,669,000) (13,214,000) (9,457,000)
Deferred income taxes and valuation allowance 5,023,000 4,154,000 665,000
Bargain purchase gain 0 (3,053,000) 0
Amortization of intangible assets 685,000 980,000 1,165,000
Amortization (accretion) of benefit plans' unrecognized net loss (gain) 1,003,000 320,000 (328,000)
(Reversal of) provision for credit losses (7,518,000) (1,121,000) 4,197,000
(Gain) loss on sale and write-down of other real estate owned (5,000) 0 28,000
Loans originated for sale (179,727,000) (281,086,000) (290,800,000)
Proceeds from sale of mortgage loans held-for-sale 196,796,000 290,530,000 285,436,000
Gain on sale of mortgage loans held-for-sale, net (2,415,000) (5,147,000) (3,159,000)
Realized loss (gain) on sale/call of securities available for sale 559,000 (767,000) (2,250,000)
Realized loss on debt extinguishment 0 796,000 2,156,000
Realized gain on sale of loans receivable (124,000) (427,000) (27,000)
Realized (gain) loss on disposition of premises and equipment (363,000) (971,000) 383,000
Loss on write-down of premises 0 1,938,000 0
Increase in cash surrender value of bank owned life insurance (6,167,000) (6,267,000) (6,225,000)
ESOP and stock-based compensation expense 6,340,000 7,742,000 8,233,000
(Increase) decrease in interest receivable (1,104,000) (288,000) 1,987,000
Decrease (increase) in other assets 7,922,000 (4,454,000) (35,290,000)
Increase (decrease) in interest payable 853,000 (638,000) (4,887,000)
Increase (decrease) in other liabilities (8,306,000) 17,295,000 17,885,000
Net Cash Provided by Operating Activities 81,301,000 75,417,000 19,324,000
Purchases of:      
Investment securities available for sale (229,145,000) (918,668,000) (487,898,000)
Investment securities held to maturity (86,406,000) (12,321,000) 0
Proceeds from:      
Repayments/calls/maturities of investment securities available for sale 330,152,000 517,511,000 213,052,000
Repayments/calls/maturities of investment securities held to maturity 6,116,000 6,595,000 6,175,000
Sale of investment securities available for sale 100,336,000 98,084,000 164,299,000
Purchase of loans (123,389,000) (81,707,000) (73,262,000)
Net (increase) decrease in loans receivable (467,236,000) 232,660,000 264,109,000
Proceeds from sale of loans receivable 1,450,000 44,801,000 497,000
Purchase of interest rate caps 0 0 (1,476,000)
Proceeds from sale of other real estate owned 708,000 0 0
Additions to premises and equipment (2,920,000) (5,458,000) (5,960,000)
Proceeds from death benefit of bank owned life insurance 300,000 0 0
Proceeds from cash settlement of premises and equipment 612,000 4,852,000 395,000
Purchase of FHLB stock (30,382,000) (37,000) (4,500,000)
Redemption of FHLB stock 19,853,000 25,421,000 10,036,000
Net cash acquired in acquisition 0 4,296,000 0
Net Cash (Used in) Provided by Investing Activities (479,951,000) (83,971,000) 85,467,000
Cash Flows from Financing Activities:      
Net increase in deposits 377,606,000 596,583,000 283,726,000
Repayment of term FHLB advances (4,100,000,000) (2,847,796,000) (3,508,146,000)
Proceeds from term FHLB advances 4,085,000,000 2,345,000,000 3,390,000,000
Net increase (decrease) in other short-term borrowings 230,000,000 (48,635,000) (33,035,000)
Net increase (decrease) in advance payments by borrowers for taxes 994,000 (1,611,000) (318,000)
Repurchase and cancellation of common stock of Kearny Financial Corp. (129,520,000) (119,021,000) (69,782,000)
Cancellation of shares repurchased on vesting to pay taxes (977,000) (803,000) (1,083,000)
Exercise of stock options   373,000  
Cash Dividends paid (30,693,000) (28,648,000) (24,121,000)
Net Cash Used In Financing Activities 432,410,000 (104,558,000) 37,241,000
Net Increase (Decrease) in Cash and Cash Equivalents 33,760,000 (113,112,000) 142,032,000
Cash and Cash Equivalents - Beginning 67,855,000 180,967,000 38,935,000
Cash and Cash Equivalents - Ending 101,615,000 67,855,000 180,967,000
Cash paid during the year for:      
Income taxes, net of refunds 15,552,000 19,734,000 11,812,000
Interest 28,816,000 50,488,000 88,740,000
Non-cash investing and financing activities:      
Transfers from loans receivable to loans held-for-sale 27,036,000 43,579,000  
Acquisition of other real estate owned in settlement of loans $ 703,000   206,000
Fair value of assets acquired, net of cash and cash equivalents acquired   567,816,000  
Fair value of liabilities assumed   $ 523,926,000  
ASU 2019-04 [Member]      
Non-cash investing and financing activities:      
Debt securities transferred from held to maturity to available for sale     537,732,000
ASU 2016-02 [Member]      
Non-cash investing and financing activities:      
Operating lease right-of-use assets     17,243,000
Operating lease liabilities     $ 17,758,000