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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities:    
Net Income $ 28,327 $ 22,022
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 2,883 2,263
Net accretion of premiums, discounts and loan fees and costs (7,620) (4,575)
Deferred income taxes and valuation allowance 2,262 2,940
Realized gain on bargain purchase (3,053)  
Amortization of intangible assets 534 615
Amortization of benefit plans’ unrecognized net gain 42 480
(Reversal of) provision for credit losses 2,694 (2,247)
Loss on write-down and sales of other real estate owned   28
Loans originated for sale (212,037) (120,091)
Proceeds from sale of mortgage loans held-for-sale 224,141 127,678
Gain on sale of mortgage loans held-for-sale, net (3,916) (1,273)
Realized (gain) loss on sale and call of investment securities available for sale (436) 3
Debt extinguishment expenses 796  
Realized gain on sale of loans receivable (352)  
Realized loss on disposition of premises and equipment 26 342
Increase in cash surrender value of bank owned life insurance (3,192) (3,156)
ESOP, stock option plan and restricted stock plan expenses 3,763 4,269
(Increase) decrease in interest receivable (752) 1,099
Increase in other assets (3,225) (20,227)
Decrease in interest payable (237) (3,094)
Increase in other liabilities 172 17,663
Net Cash Provided by Operating Activities 30,820 24,739
Purchases of:    
Investment securities available for sale (604,971) (216,015)
Proceeds from:    
Repayments/calls/maturities of investment securities available for sale 253,802 70,213
Repayments/calls/maturities of investment securities held to maturity 2,930 2,745
Sales of investment securities available for sale 44,842 3,646
Purchase of loans (23,508) (34,249)
Net decrease in loans receivable 192,081 224,895
Proceeds from sale of loans receivable 43,931  
Purchase of interest rate caps   (1,476)
Additions to premises and equipment (2,224) (2,688)
Proceeds from cash settlement of premises and equipment   395
Redemption of FHLB stock 16,421 1,352
Net cash acquired in acquisition 4,296  
Net Cash (Used in) Provided by Investing Activities (72,400) 48,818
Cash Flows from Financing Activities:    
Net increase in deposits 423,187 41,832
Repayment of term FHLB advances (1,667,796) (1,680,059)
Proceeds from term FHLB advances 1,365,000 1,650,000
Net decrease in other short-term borrowings (68,635) (17,680)
Net decrease in advance payments by borrowers for taxes (1,263) (302)
Repurchase and cancellation of common stock of Kearny Financial Corp. (45,704) (52,254)
Cancellation of shares repurchased on vesting to pay taxes (689) (937)
Dividends paid (13,793) (11,296)
Net Cash Used in Financing Activities (9,693) (70,696)
Net (Decrease) Increase in Cash and Cash Equivalents (51,273) 2,861
Cash and Cash Equivalents - Beginning 180,967 38,935
Cash and Cash Equivalents - Ending 129,694 41,796
Cash paid during the period for:    
Income taxes, net of refunds 9,189 6,379
Interest 30,798 48,881
Non-cash investing and financing activities:    
Transfers from loans receivable to loans receivable held-for-sale 43,579  
Acquisition of other real estate owned in settlement of loans   206
Fair value of assets acquired, net of cash and cash equivalents acquired 567,816  
Fair value of liabilities assumed $ 523,926  
ASU 2019-04 [Member]    
Non-cash investing and financing activities:    
Debt securities transferred from held to maturity to available for sale   537,732
ASU 2016-02 [Member]    
Non-cash investing and financing activities:    
Operating lease right-of-use assets   17,243
Operating lease liabilities   $ 17,758