8-K

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): October 27, 2022

_____________________________

KEARNY FINANCIAL CORP.

(Exact name of Registrant as Specified in Its Charter)

_____________________________

Maryland	001-37399	30-0870244
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer 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 October 27, 2022, Kearny Financial Corp. (the “Company”), the holding company for Kearny Bank, issued a press release reporting its financial results for the period ended September 30, 2022.

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 October 27, 2022, the Company will utilize a slide presentation at its fiscal 2022 Annual Meeting of Stockholders.

A copy of the slide presentation that will be used in the Company’s presentation is filed 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.

In addition, on October 27, 2022, 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 filed as Exhibit 99.3 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 October 27, 2022, the Company’s Board of Directors announced a quarterly cash dividend of $0.11 per share, payable on November 23, 2022 to stockholders of record as of November 9, 2022.

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 October 27, 2022.
99.2	Kearny Financial Corp. annual meeting presentation dated October 27, 2022.
99.3	Kearny Financial Corp. investor presentation dated October 27, 2022.
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: October 27, 2022	By:	/s/ Keith Suchodolski
		Keith Suchodolski
		Senior Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

October 27, 2022

For further information contact:

Craig L. Montanaro, President and Chief Executive Officer, or

Keith Suchodolski, Senior Executive Vice President and Chief Financial Officer

Kearny Financial Corp.

(973) 244-4500

KEARNY FINANCIAL CORP. ANNOUNCES FIRST QUARTER FISCAL 2023 RESULTS

AND DECLARATION OF CASH DIVIDEND

Fairfield, N.J., October 27, 2022 – Kearny Financial Corp. (NASDAQ GS: KRNY) (the “Company”), the holding company of Kearny Bank (the “Bank”), reported net income for the quarter ended September 30, 2022 of $16.5 million, or $0.25 per diluted share, compared to $11.4 million, or $0.17 per diluted share, for the quarter ended June 30, 2022.

The Company also announced that its Board of Directors has declared a quarterly cash dividend of $0.11 per share, payable on November 23, 2022 to stockholders of record as of November 9, 2022.

Craig L. Montanaro, President and Chief Executive Officer, commented, “Despite pressure on net interest margin, attributable to the rapidly rising interest rate environment, we delivered impressive results for the quarter. Growth in loans and deposits remained strong, expenses were well controlled and asset quality metrics notably improved. Over the past two quarters, our loan portfolio has grown at a 26% annualized rate, driven by strong origination volume and slowing prepayment activity. Looking ahead to the remainder of fiscal 2023, we expect loan growth to moderate, as we have right-sized our loan pipeline and are focusing our origination efforts on those loan segments which provide the greatest risk-adjusted returns.”

Mr. Montanaro further noted, “In recognition of the risks presented by the prevailing economic and interest rate environment we continue to position our balance sheet to support net interest income, and margin, in a variety of interest rate scenarios. To that end we have, since the start of this fiscal year, added $600 million of derivative notional and made targeted adjustments to our wholesale balance sheet designed to reduce risk and support future earnings.”

Balance Sheet

•Total assets increased $169.7 million, or 2.2%, to $7.89 billion at September 30, 2022, from $7.72 billion at June 30, 2022.

•Loans receivable increased $238.5 million, or 4.4%, to $5.66 billion at September 30, 2022, from $5.42 billion at June 30, 2022.

•Deposits increased $246.0 million, or 4.2%, to $6.11 billion at September 30, 2022, from $5.86 billion at June 30, 2022. Non-interest-bearing deposits increased $29.5 million, or 4.5%, for the quarter ended September 30, 2022.

•Investment securities decreased $83.3 million to $1.38 billion, or 17.5% of total assets, at September 30, 2022, from $1.46 billion, or 18.9% of total assets, at June 30, 2022.

•Borrowings decreased $49.9 million to $851.5 million, or 10.8% of total assets, at September 30, 2022, from $901.3 million, or 11.7% of total assets, at June 30, 2022.

Earnings

Performance Highlights

•Return on average assets was 0.85% for the quarter ended September 30, 2022 compared to 0.61% for the quarter ended June 30, 2022.

•Return on average equity was 7.38% and 4.92% for the quarters ended September 30, 2022 and June 30, 2022, respectively. Return on average tangible equity was 9.70% and 6.40% for those same comparative periods.

1

Net Interest Income and Net Interest Margin

•Net interest margin contracted 23 basis points to 2.69% for the quarter ended September 30, 2022, from 2.92% for the quarter ended June 30, 2022. The decrease was due largely to an increase in the cost of interest-bearing liabilities, partially offset by increases in the average balance and yield on interest-earning assets.

•Net interest income decreased $2.1 million to $48.5 million for the quarter ended September 30, 2022, from $50.6 million for the quarter ended June 30, 2022. Included in net interest income for the quarters ended September 30, 2022 and June 30, 2022, respectively, was purchase accounting accretion of $1.8 million and $1.6 million, and loan prepayment penalty income of $441,000 and $869,000.

Non-Interest Income

•Non-interest income increased $3.1 million to $5.9 million for the quarter ended September 30, 2022, from $2.8 million for the quarter ended June 30, 2022. The increase was largely attributable to higher income from bank owned life insurance that resulted from $2.1 million in payouts on life insurance policies.

•Non-interest income included no gain or loss on the sale of securities for the quarter ended September 30, 2022 compared to a loss of $563,000 on the sale of securities for the quarter ended June 30, 2022.

Non-Interest Expense

•Non-interest expense decreased $1.6 million to $32.0 million for the quarter ended September 30, 2022, from $33.6 million for the quarter ended June 30, 2022. The decrease was primarily attributable to $1.0 million of non-recurring expenses recorded in the prior quarter.

•The provision for credit losses on unfunded commitments, included in other expense, decreased $387,000 for the quarter ended September 30, 2022.

•The efficiency and non-interest expense ratios were 58.75% and 1.65%, respectively, for the quarter ended September 30, 2022, as compared to 62.93% and 1.79%, respectively, for the quarter ended June 30, 2022.

Income Taxes

•Income tax expense totaled $5.3 million for the quarter ended September 30, 2022 compared to $4.2 million for the quarter ended June 30, 2022, resulting in an effective tax rate of 24.1% and 27.0%, respectively. The decrease in the effective tax rate primarily resulted from the payouts on life insurance policies, noted above, which were not taxable.

Asset Quality

•The balance of non-performing assets decreased $14.8 million to $77.4 million, or 0.98% of total assets, at September 30, 2022, from $92.2 million, or 1.19% of total assets, at June 30, 2022. The decrease in non-performing assets was primarily attributable to the sale of two non-accrual loans that were recorded as held-for-sale at June 30, 2022.

•Net charge-offs totaled $115,000, or 0.01% of average loans, on an annualized basis, for the quarter ended September 30, 2022, compared to $1.0 million, or 0.08% of average loans, on an annualized basis, for the quarter ended June 30, 2022.

•For the quarter ended September 30, 2022, the Company recorded a provision for credit losses of $670,000, compared to $4.2 million for the quarter ended June 30, 2022. The provision for the quarter ended September 30, 2022 was largely driven by loan growth of $238.5 million, partially offset by a reduction in the expected life of the loan portfolio.

•The allowance for credit losses was $47.6 million, or 0.84% of total loans, at September 30, 2022, compared to $47.1 million, or 0.87% of total loans, at June 30, 2022.

Capital

•For the quarter ended September 30, 2022, book value per share decreased $0.14, or 1.1%, to $12.88 and tangible book value per share decreased $0.17, or 1.7%, to $9.73.

•On August 1, 2022, the Company announced the authorization of a new stock repurchase plan, which authorized the repurchase of up to 4,000,000 shares. During the quarter ended September 30, 2022, the Company repurchased 759,806 shares of common stock at a cost of $8.7 million, or $11.44 per share.

•At September 30, 2022, the Company’s tangible equity to tangible assets ratio equaled 8.61% 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.

2

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.

In addition, the COVID-19 pandemic has had, and may continue to have, an adverse impact on the Company, its clients and the communities it serves. Given its dynamic nature, it is difficult to predict the full impact of the COVID-19 pandemic on our business.

Category: Earnings

3

Linked-Quarter Comparative Financial Analysis

Kearny Financial Corp.

Consolidated Balance Sheets

(Dollars and Shares in Thousands, Except Per Share Data)	September 30, 2022			June 30, 2022			Variance or Change			Variance or Change Pct.
	(Unaudited)			(Audited)
Assets
Cash and cash equivalents	$	96,076		$	101,615		$	(5,539)		-5.5	%
Securities available for sale	1,263,176			1,344,093			(80,917)			-6.0	%
Securities held to maturity	115,943			118,291			(2,348)			-2.0	%
Loans held-for-sale	12,936			28,874			(15,938)			-55.2	%
Loans receivable	5,656,370			5,417,845			238,525			4.4	%
Less: allowance for credit losses on loans	(47,613)			(47,058)			555			1.2	%
Net loans receivable	5,608,757			5,370,787			237,970			4.4	%
Premises and equipment	52,642			53,281			(639)			-1.2	%
Federal Home Loan Bank stock	44,957			47,144			(2,187)			-4.6	%
Accrued interest receivable	23,817			20,466			3,351			16.4	%
Goodwill	210,895			210,895			—			—	%
Core deposit intangible	2,876			3,020			(144)			-4.8	%
Bank owned life insurance	289,690			289,177			513			0.2	%
Deferred income taxes, net	54,278			49,350			4,928			10.0	%
Other real estate owned	178			178			—			—	%
Other assets	113,369			82,712			30,657			37.1	%
Total assets	$	7,889,590		$	7,719,883		$	169,707		2.2	%
Liabilities
Deposits:
Non-interest-bearing	$	683,406		$	653,899		$	29,507		4.5	%
Interest-bearing	5,424,872			5,208,357			216,515			4.2	%
Total deposits	6,108,278			5,862,256			246,022			4.2	%
Borrowings	851,454			901,337			(49,883)			-5.5	%
Advance payments by borrowers for taxes	16,555			16,746			(191)			-1.1	%
Other liabilities	38,329			45,544			(7,215)			-15.8	%
Total liabilities	7,014,616			6,825,883			188,733			2.8	%
Stockholders' Equity
Common stock	680			687			(7)			-1.0	%
Paid-in capital	520,245			528,396			(8,151)			-1.5	%
Retained earnings	454,710			445,451			9,259			2.1	%
Unearned ESOP shares	(24,321)			(24,807)			486			2.0	%
Accumulated other comprehensive loss	(76,340)			(55,727)			(20,613)			-37.0	%
Total stockholders' equity	874,974			894,000			(19,026)			-2.1	%
Total liabilities and stockholders' equity	$	7,889,590		$	7,719,883		$	169,707		2.2	%
Consolidated capital ratios
Equity to assets	11.09		%	11.58		%	-0.49		%
Tangible equity to tangible assets (1)	8.61		%	9.06		%	-0.45		%
Share data
Outstanding shares	67,938			68,666			(728)			-1.1	%
Book value per share	$	12.88		$	13.02		$	(0.14)		-1.1	%
Tangible book value per share (2)	$	9.73		$	9.90		$	(0.17)		-1.7	%

_________________________

(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.

4

Kearny Financial Corp.

Consolidated Statements of Income

(Unaudited)

(Dollars and Shares in Thousands, Except Per Share Data)	Three Months Ended						Variance or Change			Variance or Change Pct.
	September 30, 2022			June 30, 2022
Interest income
Loans	$	52,935		$	48,869		$	4,066		8.3	%
Taxable investment securities	10,439			8,915			1,524			17.1	%
Tax-exempt investment securities	285			297			(12)			-4.0	%
Other interest-earning assets	761			472			289			61.2	%
Total interest income	64,420			58,553			5,867			10.0	%
Interest expense
Deposits	10,869			3,915			6,954			177.6	%
Borrowings	5,020			4,039			981			24.3	%
Total interest expense	15,889			7,954			7,935			99.8	%
Net interest income	48,531			50,599			(2,068)			-4.1	%
Provision for credit losses	670			4,222			(3,552)			-84.1	%
Net interest income after provision for credit losses	47,861			46,377			1,484			3.2	%
Non-interest income
Fees and service charges	763			658			105			16.0	%
Loss on sale and call of securities	—			(563)			563			100.0	%
Gain on sale of loans	395			187			208			111.2	%
Loss on sale of other real estate owned	—			(9)			9			100.0	%
Income from bank owned life insurance	3,698			1,533			2,165			141.2	%
Electronic banking fees and charges	506			366			140			38.3	%
Other income	555			638			(83)			-13.0	%
Total non-interest income	5,917			2,810			3,107			110.6	%
Non-interest expense
Salaries and employee benefits	20,348			20,367			(19)			-0.1	%
Net occupancy expense of premises	3,090			3,188			(98)			-3.1	%
Equipment and systems	3,662			4,516			(854)			-18.9	%
Advertising and marketing	747			703			44			6.3	%
Federal deposit insurance premium	906			762			144			18.9	%
Directors' compensation	340			340			—			—	%
Other expense	2,895			3,736			(841)			-22.5	%
Total non-interest expense	31,988			33,612			(1,624)			-4.8	%
Income before income taxes	21,790			15,575			6,215			39.9	%
Income taxes	5,255			4,205			1,050			25.0	%
Net income	$	16,535		$	11,370		$	5,165		45.4	%
Net income per common share (EPS)
Basic	$	0.25		$	0.17		$	0.08
Diluted	$	0.25		$	0.17		$	0.08
Dividends declared
Cash dividends declared per common share	$	0.11		$	0.11		$	—
Cash dividends declared	$	7,276		$	7,441		$	(165)
Dividend payout ratio	44.0		%	65.4		%	(21.4)		%
Weighted average number of common shares outstanding
Basic	65,737			67,240			(1,503)
Diluted	65,756			67,276			(1,520)

5

Kearny Financial Corp.

Average Balance Sheet Data

(Unaudited)

(Dollars in Thousands)	Three Months Ended						Variance or Change			Variance or Change Pct.
	September 30, 2022			June 30, 2022
Assets
Interest-earning assets:
Loans receivable, including loans held for sale	$	5,553,996		$	5,181,983		$	372,013		7.2	%
Taxable investment securities	1,516,974			1,608,372			(91,398)			-5.7	%
Tax-exempt investment securities	48,973			51,672			(2,699)			-5.2	%
Other interest-earning assets	88,038			87,990			48			0.1	%
Total interest-earning assets	7,207,981			6,930,017			277,964			4.0	%
Non-interest-earning assets	570,225			564,734			5,491			1.0	%
Total assets	$	7,778,206		$	7,494,751		$	283,455		3.8	%
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Deposits:
Interest-bearing demand	$	2,354,340		$	2,155,946		$	198,394		9.2	%
Savings	1,019,343			1,077,631			(58,288)			-5.4	%
Certificates of deposit	2,014,922			1,701,725			313,197			18.4	%
Total interest-bearing deposits	5,388,605			4,935,302			453,303			9.2	%
Borrowings:
Federal Home Loan Bank advances	642,399			752,579			(110,180)			-14.6	%
Other borrowings	127,456			185,901			(58,445)			-31.4	%
Total borrowings	769,855			938,480			(168,625)			-18.0	%
Total interest-bearing liabilities	6,158,460			5,873,782			284,678			4.8	%
Non-interest-bearing liabilities:
Non-interest-bearing deposits	667,624			640,200			27,424			4.3	%
Other non-interest-bearing liabilities	56,431			56,636			(205)			-0.4	%
Total non-interest-bearing liabilities	724,055			696,836			27,219			3.9	%
Total liabilities	6,882,515			6,570,618			311,897			4.7	%
Stockholders' equity	895,691			924,133			(28,442)			-3.1	%
Total liabilities and stockholders' equity	$	7,778,206		$	7,494,751		$	283,455		3.8	%
Average interest-earning assets to average interest-bearing liabilities	117.04		%	117.98		%	-0.94		%	-0.8	%

6

Kearny Financial Corp.

Performance Ratio Highlights

(Unaudited)

	Three Months Ended				Variance or Change
	September 30, 2022		June 30, 2022
Average yield on interest-earning assets:
Loans receivable, including loans held for sale	3.81	%	3.77	%	0.04	%
Taxable investment securities	2.75	%	2.22	%	0.53	%
Tax-exempt investment securities (1)	2.33	%	2.30	%	0.03	%
Other interest-earning assets	3.46	%	2.15	%	1.31	%
Total interest-earning assets	3.57	%	3.38	%	0.19	%
Average cost of interest-bearing liabilities:
Deposits:
Interest-bearing demand	0.92	%	0.31	%	0.61	%
Savings	0.23	%	0.11	%	0.12	%
Certificates of deposit	0.97	%	0.46	%	0.51	%
Total interest-bearing deposits	0.81	%	0.32	%	0.49	%
Borrowings:
Federal Home Loan Bank advances	2.68	%	1.96	%	0.72	%
Other borrowings	2.26	%	0.77	%	1.49	%
Total borrowings	2.61	%	1.72	%	0.89	%
Total interest-bearing liabilities	1.03	%	0.54	%	0.49	%
Interest rate spread (2)	2.54	%	2.84	%	-0.30	%
Net interest margin (3)	2.69	%	2.92	%	-0.23	%
Non-interest income to average assets (annualized)	0.30	%	0.15	%	0.15	%
Non-interest expense to average assets (annualized)	1.65	%	1.79	%	-0.14	%
Efficiency ratio (4)	58.75	%	62.93	%	-4.18	%
Return on average assets (annualized)	0.85	%	0.61	%	0.24	%
Return on average equity (annualized)	7.38	%	4.92	%	2.46	%
Return on average tangible equity (annualized) (5)	9.70	%	6.40	%	3.30	%

_________________________

(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.

7

Five-Quarter Financial Trend Analysis

Kearny Financial Corp.

Consolidated Balance Sheets

(Dollars and Shares in Thousands, Except Per Share Data)	September 30, 2022			June 30, 2022			March 31, 2022			December 31, 2021			September 30, 2021
	(Unaudited)			(Audited)			(Unaudited)			(Unaudited)			(Unaudited)
Assets
Cash and cash equivalents	$	96,076		$	101,615		$	62,379		$	60,452		$	54,070
Securities available for sale	1,263,176			1,344,093			1,526,086			1,591,066			1,651,156
Securities held to maturity	115,943			118,291			121,853			53,142			37,497
Loans held-for-sale	12,936			28,874			2,822			12,549			12,884
Loans receivable	5,656,370			5,417,845			5,003,201			4,826,404			4,789,339
Less: allowance for credit losses on loans	(47,613)			(47,058)			(43,860)			(48,216)			(51,785)
Net loans receivable	5,608,757			5,370,787			4,959,341			4,778,188			4,737,554
Premises and equipment	52,642			53,281			53,727			54,067			55,236
Federal Home Loan Bank stock	44,957			47,144			30,997			36,622			36,615
Accrued interest receivable	23,817			20,466			19,517			18,495			19,541
Goodwill	210,895			210,895			210,895			210,895			210,895
Core deposit intangible	2,876			3,020			3,166			3,344			3,524
Bank owned life insurance	289,690			289,177			287,644			286,433			284,871
Deferred income taxes, net	54,278			49,350			34,349			25,709			27,771
Other real estate owned	178			178			401			658			178
Other assets	113,369			82,712			76,714			54,603			51,896
Total assets	$	7,889,590		$	7,719,883		$	7,389,891		$	7,186,223		$	7,183,688
Liabilities
Deposits:
Non-interest-bearing	$	683,406		$	653,899		$	621,954		$	604,805		$	631,344
Interest-bearing	5,424,872			5,208,357			4,906,708			4,849,220			4,763,795
Total deposits	6,108,278			5,862,256			5,528,662			5,454,025			5,395,139
Borrowings	851,454			901,337			851,220			686,105			720,990
Advance payments by borrowers for taxes	16,555			16,746			16,979			16,772			16,222
Other liabilities	38,329			45,544			37,861			33,851			36,914
Total liabilities	7,014,616			6,825,883			6,434,722			6,190,753			6,169,265
Stockholders' Equity
Common stock	680			687			714			735			758
Paid-in capital	520,245			528,396			561,176			587,392			616,894
Retained earnings	454,710			445,451			441,522			431,549			420,701
Unearned ESOP shares	(24,321)			(24,807)			(25,294)			(25,780)			(26,266)
Accumulated other comprehensive (loss) income	(76,340)			(55,727)			(22,949)			1,574			2,336
Total stockholders' equity	874,974			894,000			955,169			995,470			1,014,423
Total liabilities and stockholders' equity	$	7,889,590		$	7,719,883		$	7,389,891		$	7,186,223		$	7,183,688
Consolidated capital ratios
Equity to assets	11.09		%	11.58		%	12.93		%	13.85		%	14.12		%
Tangible equity to tangible assets (1)	8.61		%	9.06		%	10.33		%	11.21		%	11.48		%
Share data
Outstanding shares	67,938			68,666			71,424			73,453			75,800
Book value per share	$	12.88		$	13.02		$	13.37		$	13.55		$	13.38
Tangible book value per share (2)	$	9.73		$	9.90		$	10.38		$	10.64		$	10.55

_________________________

(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.

8

Kearny Financial Corp.

Supplemental Balance Sheet Highlights

(Unaudited)

(Dollars in Thousands)	September 30, 2022			June 30, 2022			March 31, 2022			December 31, 2021			September 30, 2021
Loan portfolio composition:
Commercial loans:
Multi-family mortgage	$	2,570,297		$	2,409,090		$	2,076,003		$	2,007,431		$	1,978,681
Nonresidential mortgage	1,040,688			1,019,838			1,085,988			1,026,447			1,023,391
Commercial business	186,361			176,807			169,551			180,429			169,392
Construction	166,052			140,131			121,137			110,703			112,226
Total commercial loans	3,963,398			3,745,866			3,452,679			3,325,010			3,283,690
One- to four-family residential mortgage	1,666,730			1,645,816			1,527,980			1,477,267			1,483,106
Consumer loans:
Home equity loans	43,269			42,028			41,501			43,934			44,912
Other consumer	2,869			2,866			2,755			3,040			3,020
Total consumer loans	46,138			44,894			44,256			46,974			47,932
Total loans, excluding yield adjustments	5,676,266			5,436,576			5,024,915			4,849,251			4,814,728
Unaccreted yield adjustments	(19,896)			(18,731)			(21,714)			(22,847)			(25,389)
Loans receivable, net of yield adjustments	5,656,370			5,417,845			5,003,201			4,826,404			4,789,339
Less: allowance for credit losses on loans	(47,613)			(47,058)			(43,860)			(48,216)			(51,785)
Net loans receivable	$	5,608,757		$	5,370,787		$	4,959,341		$	4,778,188		$	4,737,554
Asset quality:
Nonperforming assets:
Accruing loans - 90 days and over past due	$	—		$	—		$	—		$	—		$	—
Nonaccrual loans	68,574			70,321			80,595			72,138			72,945
Total nonperforming loans	68,574			70,321			80,595			72,138			72,945
Nonaccrual loans held-for-sale	8,650			21,745			—			—			—
Other real estate owned	178			178			401			658			178
Total nonperforming assets	$	77,402		$	92,244		$	80,996		$	72,796		$	73,123
Nonperforming loans (% total loans)	1.21		%	1.30		%	1.61		%	1.49		%	1.52		%
Nonperforming assets (% total assets)	0.98		%	1.19		%	1.10		%	1.01		%	1.02		%
Classified loans	$	92,610		$	94,555		$	163,621		$	162,174		$	170,449
Allowance for credit losses on loans (ACL):
ACL to total loans	0.84		%	0.87		%	0.87		%	0.99		%	1.08		%
ACL to nonperforming loans	69.43		%	66.92		%	54.42		%	66.84		%	70.99		%
Net charge-offs	$	115		$	1,024		$	436		$	1,149		$	980
Average net charge-off rate (annualized)	0.01		%	0.08		%	0.04		%	0.10		%	0.08		%
Funding composition:
Deposits:
Non-interest-bearing deposits	$	683,406		$	653,899		$	621,954		$	604,805		$	631,344
Interest-bearing demand	2,382,411			2,265,597			2,154,488			2,106,693			1,937,661
Savings	982,916			1,053,198			1,088,974			1,087,740			1,089,699
Certificates of deposit (retail)	1,263,124			1,116,035			1,122,228			1,184,530			1,264,016
Certificates of deposit (brokered and listing service)	796,421			773,527			541,018			470,257			472,419
Interest-bearing deposits	5,424,872			5,208,357			4,906,708			4,849,220			4,763,795
Total deposits	6,108,278			5,862,256			5,528,662			5,454,025			5,395,139
Borrowings:
Federal Home Loan Bank advances	796,454			651,337			541,220			666,105			665,990
Overnight borrowings	55,000			250,000			310,000			20,000			55,000
Total borrowings	851,454			901,337			851,220			686,105			720,990
Total funding	$	6,959,732		$	6,763,593		$	6,379,882		$	6,140,130		$	6,116,129
Loans as a % of deposits	92.0		%	92.1		%	89.8		%	87.8		%	88.1		%
Deposits as a % of total funding	87.8		%	86.7		%	86.7		%	88.8		%	88.2		%
Borrowings as a % of total funding	12.2		%	13.3		%	13.3		%	11.2		%	11.8		%

9

Kearny Financial Corp.

Consolidated Statements of Income

(Unaudited)

	Three Months Ended
(Dollars and Shares in Thousands, Except Per Share Data)	September 30, 2022			June 30, 2022			March 31, 2022			December 31, 2021			September 30, 2021
Interest income
Loans	$	52,935		$	48,869		$	45,846		$	47,575		$	48,230
Taxable investment securities	10,439			8,915			8,024			7,595			8,212
Tax-exempt investment securities	285			297			316			327			333
Other interest-earning assets	761			472			415			415			431
Total interest income	64,420			58,553			54,601			55,912			57,206
Interest expense
Deposits	10,869			3,915			3,565			3,663			4,065
Borrowings	5,020			4,039			3,309			3,562			3,551
Total interest expense	15,889			7,954			6,874			7,225			7,616
Net interest income	48,531			50,599			47,727			48,687			49,590
Provision for (reversal of) credit losses	670			4,222			(3,920)			(2,420)			(5,400)
Net interest income after provision for (reversal of) credit losses	47,861			46,377			51,647			51,107			54,990
Non-interest income
Fees and service charges	763			658			617			698			607
(Loss) gain on sale and call of securities	—			(563)			3			—			1
Gain on sale of loans	395			187			376			970			1,006
(Loss) gain on sale of other real estate owned	—			(9)			14			—			—
Income from bank owned life insurance	3,698			1,533			1,511			1,562			1,561
Electronic banking fees and charges	506			366			432			421			407
Other income	555			638			238			482			218
Total non-interest income	5,917			2,810			3,191			4,133			3,800
Non-interest expense
Salaries and employee benefits	20,348			20,367			19,184			18,096			18,617
Net occupancy expense of premises	3,090			3,188			3,223			3,156			4,547
Equipment and systems	3,662			4,516			3,822			3,723			3,825
Advertising and marketing	747			703			516			448			392
Federal deposit insurance premium	906			762			480			721			492
Directors' compensation	340			340			340			649			803
Other expense	2,895			3,736			3,058			2,877			3,127
Total non-interest expense	31,988			33,612			30,623			29,670			31,803
Income before income taxes	21,790			15,575			24,215			25,570			26,987
Income taxes	5,255			4,205			6,522			6,801			7,272
Net income	$	16,535		$	11,370		$	17,693		$	18,769		$	19,715
Net income per common share (EPS)
Basic	$	0.25		$	0.17		$	0.25		$	0.26		$	0.26
Diluted	$	0.25		$	0.17		$	0.25		$	0.26		$	0.26
Dividends declared
Cash dividends declared per common share	$	0.11		$	0.11		$	0.11		$	0.11		$	0.10
Cash dividends declared	$	7,276		$	7,441		$	7,720		$	7,921		$	7,381
Dividend payout ratio	44.0		%	65.4		%	43.6		%	42.2		%	37.4		%
Weighted average number of common shares outstanding
Basic	65,737			67,240			69,790			72,011			74,537
Diluted	65,756			67,276			69,817			72,037			74,556

10

Kearny Financial Corp.

Average Balance Sheet Data

(Unaudited)

	Three Months Ended
(Dollars in Thousands)	September 30, 2022			June 30, 2022			March 31, 2022			December 31, 2021			September 30, 2021
Assets
Interest-earning assets:
Loans receivable, including loans held-for-sale	$	5,553,996		$	5,181,983		$	4,850,236		$	4,822,959		$	4,835,676
Taxable investment securities	1,516,974			1,608,372			1,620,996			1,610,395			1,649,953
Tax-exempt investment securities	48,973			51,672			55,390			57,686			59,115
Other interest-earning assets	88,038			87,990			79,644			77,811			85,749
Total interest-earning assets	7,207,981			6,930,017			6,606,266			6,568,851			6,630,493
Non-interest-earning assets	570,225			564,734			601,684			611,390			616,735
Total assets	$	7,778,206		$	7,494,751		$	7,207,950		$	7,180,241		$	7,247,228
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Deposits:
Interest-bearing demand	$	2,354,340		$	2,155,946		$	2,133,977		$	2,027,021		$	1,954,271
Savings	1,019,343			1,077,631			1,088,351			1,086,903			1,102,865
Certificates of deposit	2,014,922			1,701,725			1,650,048			1,693,423			1,798,473
Total interest-bearing deposits	5,388,605			4,935,302			4,872,376			4,807,347			4,855,609
Borrowings:
Federal Home Loan Bank advances	642,399			752,579			632,811			666,029			665,915
Other borrowings	127,456			185,901			51,667			26,033			28,532
Total borrowings	769,855			938,480			684,478			692,062			694,447
Total interest-bearing liabilities	6,158,460			5,873,782			5,556,854			5,499,409			5,550,056
Non-interest-bearing liabilities:
Non-interest-bearing deposits	667,624			640,200			624,152			624,200			610,271
Other non-interest-bearing liabilities	56,431			56,636			49,455			50,870			56,893
Total non-interest-bearing liabilities	724,055			696,836			673,607			675,070			667,164
Total liabilities	6,882,515			6,570,618			6,230,461			6,174,479			6,217,220
Stockholders' equity	895,691			924,133			977,489			1,005,762			1,030,008
Total liabilities and stockholders' equity	$	7,778,206		$	7,494,751		$	7,207,950		$	7,180,241		$	7,247,228
Average interest-earning assets to average  interest-bearing liabilities	117.04		%	117.98		%	118.89		%	119.45		%	119.47		%

11

Kearny Financial Corp.

Performance Ratio Highlights

	Three Months Ended
	September 30, 2022		June 30, 2022		March 31, 2022		December 31, 2021		September 30, 2021
Average yield on interest-earning assets:
Loans receivable, including loans held-for-sale	3.81	%	3.77	%	3.78	%	3.95	%	3.99	%
Taxable investment securities	2.75	%	2.22	%	1.98	%	1.89	%	1.99	%
Tax-exempt investment securities (1)	2.33	%	2.30	%	2.28	%	2.26	%	2.25	%
Other interest-earning assets	3.46	%	2.15	%	2.08	%	2.13	%	2.01	%
Total interest-earning assets	3.57	%	3.38	%	3.31	%	3.40	%	3.45	%
Average cost of interest-bearing liabilities:
Deposits:
Interest-bearing demand	0.92	%	0.31	%	0.22	%	0.22	%	0.23	%
Savings	0.23	%	0.11	%	0.10	%	0.11	%	0.12	%
Certificates of deposit	0.97	%	0.46	%	0.52	%	0.53	%	0.57	%
Total interest-bearing deposits	0.81	%	0.32	%	0.29	%	0.30	%	0.33	%
Borrowings:
Federal Home Loan Bank advances	2.68	%	1.96	%	2.08	%	2.14	%	2.13	%
Other borrowings	2.26	%	0.77	%	0.17	%	0.09	%	0.10	%
Total borrowings	2.61	%	1.72	%	1.93	%	2.06	%	2.05	%
Total interest-bearing liabilities	1.03	%	0.54	%	0.49	%	0.53	%	0.55	%
Interest rate spread (2)	2.54	%	2.84	%	2.82	%	2.87	%	2.90	%
Net interest margin (3)	2.69	%	2.92	%	2.89	%	2.96	%	2.99	%
Non-interest income to average assets  (annualized)	0.30	%	0.15	%	0.18	%	0.23	%	0.21	%
Non-interest expense to average assets  (annualized)	1.65	%	1.79	%	1.70	%	1.65	%	1.76	%
Efficiency ratio (4)	58.75	%	62.93	%	60.14	%	56.17	%	59.57	%
Return on average assets (annualized)	0.85	%	0.61	%	0.98	%	1.05	%	1.09	%
Return on average equity (annualized)	7.38	%	4.92	%	7.24	%	7.46	%	7.66	%
Return on average tangible equity (annualized) (5)	9.70	%	6.40	%	9.27	%	9.49	%	9.67	%

_________________________

(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.

12

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, Except Per Share Data)	September 30, 2022			June 30, 2022			March 31, 2022			December 31, 2021			September 30, 2021
Adjusted net income:
Net income (GAAP)	$	16,535		$	11,370		$	17,693		$	18,769		$	19,715
Non-recurring transactions - net of tax:
Early contract termination	—			568			—			—			—
Branch consolidation expenses and  impairment charges	—			—			—			132			1,209
Net effect of sale and call of securities	—			400			(2)			—			(1)
Net effect of sale of other assets	—			—			—			(251)			—
Adjusted net income	$	16,535		$	12,338		$	17,691		$	18,650		$	20,923
Calculation of pre-tax, pre-provision net revenue:
Net income (GAAP)	$	16,535		$	11,370		$	17,693		$	18,769		$	19,715
Adjustments to net income (GAAP):
Provision for income taxes	5,255			4,205			6,522			6,801			7,272
Provision for (reversal of) credit losses	670			4,222			(3,920)			(2,420)			(5,400)
Pre-tax, pre-provision net revenue (non-GAAP)	$	22,460		$	19,797		$	20,295		$	23,150		$	21,587
Adjusted earnings per share:
Weighted average common shares - basic	65,737			67,240			69,790			72,011			74,537
Weighted average common shares - diluted	65,756			67,276			69,817			72,037			74,556
Earnings per share - basic (GAAP)	$	0.25		$	0.17		$	0.25		$	0.26		$	0.26
Earnings per share - diluted (GAAP)	$	0.25		$	0.17		$	0.25		$	0.26		$	0.26
Adjusted earnings per share - basic (non-GAAP)	$	0.25		$	0.18		$	0.25		$	0.26		$	0.28
Adjusted earnings per share - diluted (non-GAAP)	$	0.25		$	0.18		$	0.25		$	0.26		$	0.28
Pre-tax, pre-provision net revenue per share:
Pre-tax, pre-provision net revenue per share - basic   (non-GAAP)	$	0.34		$	0.29		$	0.29		$	0.32		$	0.29
Pre-tax, pre-provision net revenue per share - diluted   (non-GAAP)	$	0.34		$	0.29		$	0.29		$	0.32		$	0.29
Adjusted return on average assets:
Total average assets	$	7,778,206		$	7,494,751		$	7,207,950		$	7,180,241		$	7,247,228
Return on average assets (GAAP)	0.85		%	0.61		%	0.98		%	1.05		%	1.09		%
Adjusted return on average assets (non-GAAP)	0.85		%	0.66		%	0.98		%	1.04		%	1.15		%
Adjusted return on average equity:
Total average equity	$	895,691		$	924,133		$	977,489		$	1,005,762		$	1,030,008
Return on average equity (GAAP)	7.38		%	4.92		%	7.24		%	7.46		%	7.66		%
Adjusted return on average equity (non-GAAP)	7.38		%	5.34		%	7.24		%	7.42		%	8.13		%

13

Kearny Financial Corp.

Reconciliation of GAAP to Non-GAAP

(Unaudited)

	Three Months Ended
(Dollars and Shares in Thousands, Except Per Share Data)	September 30, 2022			June 30, 2022			March 31, 2022			December 31, 2021			September 30, 2021
Adjusted return on average tangible equity:
Total average equity	$	895,691		$	924,133		$	977,489		$	1,005,762		$	1,030,008
Less: average goodwill	(210,895)			(210,895)			(210,895)			(210,895)			(210,895)
Less: average other intangible assets	(2,971)			(3,116)			(3,282)			(3,462)			(3,641)
Total average tangible equity	$	681,825		$	710,122		$	763,312		$	791,405		$	815,472
Return on average tangible equity (non-GAAP)	9.70		%	6.40		%	9.27		%	9.49		%	9.67		%
Adjusted return on average tangible equity (non-GAAP)	9.70		%	6.95		%	9.27		%	9.43		%	10.26		%
Adjusted non-interest expense ratio:
Non-interest expense (GAAP)	$	31,988		$	33,612		$	30,623		$	29,670		$	31,803
Non-recurring transactions:
Early contract termination	—			(800)			—			—			—
Branch consolidation expenses and  impairment charges	—			—			—			(187)			(1,711)
Non-interest expense (non-GAAP)	$	31,988		$	32,812		$	30,623		$	29,483		$	30,092
Non-interest expense ratio (GAAP)	1.65		%	1.79		%	1.70		%	1.65		%	1.76		%
Adjusted non-interest expense ratio (non-GAAP)	1.65		%	1.75		%	1.70		%	1.64		%	1.66		%
Adjusted efficiency ratio:
Non-interest expense (non-GAAP)	$	31,988		$	32,812		$	30,623		$	29,483		$	30,092
Net interest income (GAAP)	$	48,531		$	50,599		$	47,727		$	48,687		$	49,590
Total non-interest income (GAAP)	5,917			2,810			3,191			4,133			3,800
Non-recurring transactions:
Net effect of sale and call of securities	—			563			(3)			—			(1)
Net effect of sale of other assets	—			—			—			(356)			—
Total revenue (non-GAAP)	$	54,448		$	53,972		$	50,915		$	52,464		$	53,389
Efficiency ratio (GAAP)	58.75		%	62.93		%	60.14		%	56.17		%	59.57		%
Adjusted efficiency ratio (non-GAAP)	58.75		%	60.79		%	60.15		%	56.20		%	56.36		%

14

EX-99.2

A N N U A L M E E T I N G O F STOCKHOLDERS OCTOBER 27, 2022 10:00 AM Exhibit 99.2

Welcome and Introductory Remarks Craig L. Montanaro Director, President and Chief Executive Officer 2

Members of the Board of Directors John J. Mazur, Jr., Chairman Theodore J. Aanensen John F. McGovern Raymond E. Chandonnet Craig L. Montanaro John N. Hopkins Leopold W. Montanaro Catherine A. Lawton Christopher Petermann Joseph P. Mazza Charles J. Pivirotto John F. Regan 3

Executive Management Team Keith Suchodolski Senior Executive Vice President Chief Financial Officer Patrick M. Joyce Executive Vice President Chief Lending Officer Anthony V. Bilotta, Jr. Executive Vice President Chief Banking Officer Thomas D. DeMedici Executive Vice President Chief Credit Officer John V. Dunne Executive Vice President Chief Risk Officer Erika K. Parisi Executive Vice President Chief Administrative Officer Timothy A. Swansson Executive Vice President Chief Technology & Innovation Officer 4

Other Participants Corporate Secretary Kearny Financial Corp. Gail Corrigan Senior Vice President Legal Counsel Luse Gorman, PC Marc Levy, Esq. Independent Registered Public Accounting Firm Crowe LLP Andrey Dragun, CPA Partner Inspector of Election Computershare Amilja Regan Assistant Vice President 5

Business of the Meeting  Proposals to be voted upon:  Election of four directors, each for a three-year term;  Ratification of the appointment of Crowe LLP as the Company’s independent auditor for the fiscal year ending June 30, 2023;  Advisory, non-binding resolution to approve our executive compensation as described in the Proxy Statement;  Review of Financial Results  Stockholder Questions  Report of the Inspector of Election 6

A N N U A L M E E T I N G O F STOCKHOLDERS Review of F inancial Results Fiscal Year Ended June 30 ,2022

Forward Looking Statements & Non-GAAP Financial Measures 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, 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 COVID-19 on our business, financial condition or results of 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 in the Appendix to this presentation. 8

Kearny Financial Corp. NASDAQ: KRNY Market Cap: $741.2 million1 Founded in 1884 Top 10 New Jersey-based financial institution by assets 45 full-service branches2 in 12 counties throughout New Jersey and New York City Active acquirer, having completed 7 whole-bank acquisitions since 1999 1 As of October 17, 2022 2 As of June 30, 2022 Source: S&P Global Market Intelligence & Company Filings 9

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

Financial Highlights Source: Company Filings Balance Sheet ($ in billions) 2022FY 2021FY Total Assets $7.72 $7.28 Total Loans $5.44 $4.88 Total Deposits $5.86 $5.49 Profitability and Performance Ratios ($ in millions, except per share data) 2022FY 2021FY Net Income $67.5 $63.2 Earnings per share $0.95 $0.77 Net Interest Income $196.6 $188.2 Net Interest Margin 2.94% 2.80% Return on Average Assets 0.93% 0.86% Return on Average Equity 6.86% 5.79% Return on Average Tangible Equity 8.77% 7.22% 11

10.14% 14.58% 14.58% 15.17% 9.37% 11.86% 11.90% 14.37% Tier 1 Leverage Common Equity Tier 1 Tier 1 Risk-Based Capital Total Risk-Based Capital KRNY S&P US Small Cap Banks Equity & Capitalization 1 Kearny Regulatory Capital Ratios based on June 30, 2022 results 2 S&P U.S. Small Cap Banks Index comprised of 280 constituents, based on March 31, 2022 results. Source: Company Filings Equity Capitalization Level Regulatory Capital Ratios1,2 12 16.53% 14.19% 13.29% 11.72% 9.06% 19.28% 16.99% 16.04% 14.32% 11.58% 0.00% 4.00% 8.00% 12.00% 16.00% 20.00% 2018FY 2019FY 2020FY 2021FY 2022FY Tangible Common Equity / Tangible Assets Equity / Assets

$291 $433 $502 $621 $751 $36 $69 $94 $122 $152 $327 $502 $596 $743 $903 2018FY 2019FY 2020FY 2021FY 2022FY Repurchase of Common Stock Dividends Paid ($ millions) Capital Management Source: Company Filings 1 Since conclusion of second step conversion in May 2015. Repurchased 10.2 million shares during Fiscal 2022 at an average price of $12.67 per share Cumulative Capital Returned to Stockholders1 13

Earnings Performance 1 Although management believes core net income, EPS and ROAA, which are non-GAAP measures, are useful to investors by providing a greater level of understanding of its business, they should not be considered a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP financial measures that may be presented by other companies. Core net income, EPS and ROAA exclude non-recurring income and expenses, including branch consolidation expenses and impairment charges. Refer to reconciliation of GAAP to non-GAAP at the end of this presentation. Source: S&P Global Market Intelligence & Company Filings Earnings per Share1 Net Income & Return on Assets1 Sustained growth trajectory in net income, earnings per share and return on assets Annual GAAP EPS for Fiscal 2022 represented a 23% increase from Fiscal 2021 14 $0.33 $0.47 $0.54 $0.81 $0.98 $0.24 $0.46 $0.55 $0.77 $0.95 $0.00 $0.25 $0.50 $0.75 $1.00 $1.25 2018FY 2019FY 2020FY 2021FY 2022FY Core EPS GAAP EPS $27.4 $43.4 $44.3 $66.7 $69.6 $19.6 $42.1 $45.0 $63.2 $67.5 0.52% 0.65% 0.66% 0.91% 0.96% 0.37% 0.63% 0.67% 0.86% 0.93% 0.00% 0.15% 0.30% 0.45% 0.60% 0.75% 0.90% 1.05% $0 $20 $40 $60 $80 $100 $120 $140 2018FY 2019FY 2020FY 2021FY 2022FY Core Net Income Net Income Core ROAA ROAA ($ millions)

QTD Cost of Deposits 0.32% 11.2% 38.6% 18.0% 19.0% 13.2% $1,828 $1,902 $1,773 $1,399 $1,116 $189 $302 $67 $479 $773 $744 $791 $907 $1,111 $1,053 $1,001 $843 $1,264 $1,902 $2,266 $312 $309 $419 $594 $654 $4,074 $4,147 $4,430 $5,485 $5,862 2018FY 2019FY 2020FY 2021FY 2022FY Retail CDs Wholesale CDs Savings Interest bearing DDA Noninterest bearing DDA Deposits 1 For the quarter ended June 30, 2022. Source: S&P Global Market Intelligence & Company Filings Deposit Composition1 Deposit Growth Consolidated 25% of branches over a three-year period Grew non-maturity deposits 10% during Fiscal 2022 ($ millions) 15

30.3% 44.3% 18.8% 2.6% 3.2% 0.8% 1-4 Family Multifamily CRE C&D Commercial Other Portfolio Lending 1 For the quarter ended June 30, 2022. 2 As of June 30, 2022 Source: S&P Global Market Intelligence & Company Filings Loan Composition1 Geographic Distribution2Loan-to-Value by Real Estate Secured Segment2 Strategy designed to grow and diversify the loan portfolio with a focus on increasing the allocation of C&I and construction credits Grew net loans by 11% during Fiscal 2022 New York 36.0% New Jersey 55.7% Pennsylvania 5.1% Other 3.2% QTD Yield on Loans 3.77% 16 Loan Type Balance ($ millions) Loan to Value (LTV) 1-4 Family $1,646 62% Multifamily $2,409 64% CRE $1,020 54% Construction $140 61% Home Equity $42 46% Total $5,257 61%

$26.7 $31.8 $0.3 $1.6 $8.5 $1.4 Multi-family Non-Residential Commercial Construction Residential Home Equity Asset Quality 1 As of June 30, 2022; amounts shown in millions. 2 The Company adopted CECL methodology effective FY 2021 Q1 Source: S&P Global Market Intelligence & Company Filings Net Charge-Offs / Average Loans Non-Performing Assets / Total Assets Non-Performing Loans1 Allowance for Credit Losses on Loans (ACL)2 17 0.03% 0.02% 0.00% 0.03% 0.07% -0.05% 0.00% 0.05% 0.10% 0.15% 2018FY 2019FY 2020FY 2021FY 2022FY $30.9 $33.3 $37.3 $58.2 $47.10.68% 0.70% 0.82% 1.19% 0.87% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% $0.0 $20.0 $40.0 $60.0 $80.0 $100.0 2018FY 2019FY 2020FY 2021FY 2022FY ACL Balance ACL to Total Loans Receivable 0.27% 0.31% 0.55% 1.10% 1.19% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 2018FY 2019FY 2020FY 2021FY 2022FY

Selected Technology Partners 18

M&A History and Strategy Experienced and disciplined acquirer and integrator Opportunistic acquisition strategy with an emphasis on: Low premium deals Similar or complementary business models Expansion in existing or contiguous markets Cultural compatibility Focus on limiting tangible book value dilution and earn- back periods while generating strong EPS accretion and operating leverage 19

Environmental, Social & Governance (ESG) 20 The Company’s expanded ESG Report was recently released, disclosing the Company’s ongoing efforts related to: Environmental sustainability and climate risk management Cyber security, community re-investment and affordable housing initiatives Human capital initiatives, including our diversity, equity & inclusion program Corporate governance and compliance

A N N U A L M E E T I N G O F STOCKHOLDERS Financial Update First Quarter F iscal 2023

First Quarter Fiscal 2023 22 Balance Sheet ($ in billions) 2023Q1 2022Q4 Total Assets $7.89 $7.72 Total Loans $5.68 $5.44 Total Deposits $6.11 $5.86 Profitability and Performance Ratios ($ in millions, except per share data) 2023Q1 2022Q4 Net Income $16.5 $11.4 Earnings per share $0.25 $0.17 Net Interest Income $48.5 $50.6 Net Interest Margin 2.69% 2.92% Return on Average Assets 0.85% 0.61% Return on Average Equity 7.38% 4.92% Return on Average Tangible Equity 9.70% 6.40%

First Quarter Fiscal 2023 1 For the quarter ended September 30, 2022 Source: S&P Global Market Intelligence & Company Filings Loan Growth Deposit GrowthNon-Performing Assets / Total Assets 23 $1,902 $1,773 $1,399 $1,116 $1,263 $302 $67 $479 $773 $797 $791 $907 $1,111 $1,053 $983 $843 $1,264 $1,902 $2,266 $2,382 $309 $419 $594 $654 $683 $4,147 $4,430 $5,485 $5,862 $6,108 2019FY 2020FY 2021FY 2022FY 2023Q1 Retail CDs Wholesale CDs Savings Interest bearing DDA Noninterest bearing DDA $1,440 $1,356 $1,496 $1,688 $1,710 $1,946 $2,060 $2,039 $2,409 $2,570 $1,259 $961 $1,079 $1,020 $1,041 $4,731 $4,540 $4,880 $5,437 $5,676 2019FY 2020FY 2021FY 2022FY 2023Q1 1-4 Family Multi-family CRE C&D Other 0.31% 0.55% 1.10% 1.19% 0.98% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% 2019FY 2020FY 2021FY 2022FY 2023Q11 1

Stockholder Questions Questions? 24

Results of Voting Report of the Inspector of Election 25

A N N U A L M E E T I N G O F STOCKHOLDERS OCTOBER 27, 2022 10:00 AM

Non-GAAP Reconciliation 27 Appendix A: Reconciliation of GAAP to Non-GAAP For the year ended For the year ended (Dollars in Thousands, Except Per Share Data) June 30, 2022 June 30, 2021 Adjusted net income: Net Income (GAAP) $67,547 $63,233 Non-recurring transactions - net of tax: Early contract termination 568 - Bargain purchase gain - (3,053) Provision for credit losses on non-PCD loans - 3,563 Merger-related expenses - 3,123 Branch consolidation expenses and impairment charges 1,341 1,377 Net effect of sales and calls of securities 397 (804) Debt extinguishment expenses - 558 Reversal of income tax valuation allowance - (535) Net effect of sales of other assets (251) (731) Adjusted net income $69,602 $66,731 Adjusted earnings per share: Weighted average common shares - basic 70,911 82,387 Weighted average common shares - diluted 70,933 82,391 Earnings per share - basic (GAAP) $0.95 $0.77 Earnings per share - diluted (GAAP) $0.95 $0.77 Adjusted earnings per share - basic (non-GAAP) $0.98 $0.81 Adjusted earnings per share - diluted (non-GAAP) $0.98 $0.81 Adjusted return on average assets: Total average assets $7,282,370 $7,333,861 Return on average assets (GAAP) 0.93% 0.86% Adjusted return on average assets (non-GAAP) 0.96% 0.91%

EX-99.3

I N V E S T O R P R E S E N TAT I O N FIRST QUARTER F ISCAL 2023 OCTOBER 27, 2022 Exhibit 99.3

Forward Looking Statements 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, 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 COVID-19 on our business, financial condition or results of 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. 2

Kearny Financial Corp. NASDAQ: KRNY Market Cap: $741.2 million1 Founded in 1884 Top 10 New Jersey-based financial institution by assets 45 full-service branches2 in 12 counties throughout New Jersey and New York City Active acquirer, having completed 7 whole-bank acquisitions since 1999 1 As of October 17, 2022 2 As of September 30, 2022 Source: S&P Global Market Intelligence & Company Filings 3

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

Financial Highlights Source: Company Filings 5 Balance Sheet ($ in billions) 2023Q1 2022Q4 Total Assets $7.89 $7.72 Total Loans $5.68 $5.44 Total Deposits $6.11 $5.86 Profitability and Performance Ratios ($ in millions, except per share data) 2023Q1 2022Q4 Net Income $16.5 $11.4 Earnings per share $0.25 $0.17 Net Interest Margin 2.69% 2.92% Return on Average Assets 0.85% 0.61% Return on Average Equity 7.38% 4.92% Return on Average Tangible Equity 9.70% 6.40%

Equity & Capitalization 1 Kearny Regulatory Capital Ratios as of September 30, 2022 are preliminary. 2 S&P U.S. Small Cap Banks Index comprised of 255 constituents, based on June 30, 2022 results. Source: Company Filings Equity Capitalization Level Regulatory Capital Ratios1,2 6 9.72% 13.86% 13.86% 14.49% 9.45% 11.47% 11.73% 14.12% Tier 1 Leverage Common Equity Tier 1 Tier 1 Risk-Based Capital Total Risk-Based Capital KRNY S&P US Small Cap Banks 14.19% 13.29% 11.72% 9.06% 8.61% 16.99% 16.04% 14.32% 11.58% 11.09% 2019FY 2020FY 2021FY 2022FY 2023Q1 Tangible Common Equity / Tangible Assets Equity / Assets

$433 $502 $621 $751 $759 $69 $94 $122 $152 $160 $502 $596 $743 $903 $919 2019FY 2020FY 2021FY 2022FY 2023Q1 Repurchase of Common Stock Dividends Paid ($ millions) Capital Management 1 Since conclusion of second step conversion in May 2015. Source: Company Filings Repurchased 760 thousand shares during Fiscal 2023 Q1 at an average price of $11.44 per share 3.6 million shares remain available for repurchase pursuant to the current repurchase plan Cumulative Capital Returned to Stockholders1 7

Earnings Performance Earnings per Share Net Income & Return on Assets 8 $42.1 $45.0 $63.2 $67.5 $16.5 0.63% 0.67% 0.86% 0.93% 0.85% 0.00% 0.15% 0.30% 0.45% 0.60% 0.75% 0.90% 1.05% $0.0 $20.0 $40.0 $60.0 $80.0 $100.0 2019FY 2020FY 2021FY 2022FY 2023Q1 Net Income ROAA ($ millions) $0.46 $0.55 $0.77 $0.95 $0.25 $0.00 $0.25 $0.50 $0.75 $1.00 $1.25 2019FY 2020FY 2021FY 2022FY 2023Q1 GAAP EPS

$1,902 $1,773 $1,399 $1,116 $1,263 $302 $67 $479 $773 $797 $791 $907 $1,111 $1,053 $983 $843 $1,264 $1,902 $2,266 $2,382 $309 $419 $594 $654 $683 $4,147 $4,430 $5,485 $5,862 $6,108 2019FY 2020FY 2021FY 2022FY 2023Q1 Retail CDs Wholesale CDs Savings Interest bearing DDA Noninterest bearing DDA QTD Cost of Deposits 0.81% 11.2% 39.0% 16.1% 20.7% 13.0% Deposits 1 For the quarter ended September 30, 2022. Source: S&P Global Market Intelligence & Company Filings Deposit Composition1 Deposit Growth Consolidated 25% of branches over a three-year period Non-interest bearing deposits increased $29 million, or 4.5% during Fiscal 2023 Q1 ($ millions) 9

29.4% 0.8% 45.2% 18.3% 2.9% 0.1%3.3% 1-4 Family Home Equity Multifamily CRE Construction Consumer Commercial Portfolio Lending 1 For the quarter ended September 30, 2022. 2 As of September 30, 2022 Source: S&P Global Market Intelligence & Company Filings Loan Composition1 Geographic Distribution2Loan Growth New York 36.1% New Jersey 55.4% Pennsylvania 5.0% Other 3.5% 10 QTD Yield on Loans 3.81% $1,440 $1,356 $1,496 $1,688 $1,710 $1,946 $2,060 $2,039 $2,409 $2,570 $1,259 $961 $1,079 $1,020 $1,041 $4,731 $4,540 $4,880 $5,437 $5,676 2019FY 2020FY 2021FY 2022FY 2023Q1 1-4 Family Multi-family CRE C&D Other Grew net loans by 4.4% from the prior quarter ended June 30, 2022 The weighted average loan-to-value ratio1 for our real estate secured loans is 61%

Asset Quality 1 As of September 30, 2022; amounts shown in millions. 2 The Company adopted CECL methodology effective FY 2021 Q1 Source: S&P Global Market Intelligence & Company Filings Net Charge-Offs / Average Loans Non-Performing Assets / Total Assets Non-Performing Loans1 Allowance for Credit Losses on Loans (ACL)2 11 0.31% 0.55% 1.10% 1.19% 0.98% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% 2019FY 2020FY 2021FY 2022FY 2023Q1 0.02% 0.00% 0.03% 0.07% 0.01% -0.05% 0.00% 0.05% 0.10% 0.15% 2019FY 2020FY 2021FY 2022FY 2023Q1 $33.3 $37.3 $58.2 $47.1 $47.6 0.70% 0.82% 1.19% 0.87% 0.84% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% $0.0 $20.0 $40.0 $60.0 $80.0 $100.0 2019FY 2020FY 2021FY 2022FY 2023Q1 ACL Balance ACL to Total Loans Receivable ($ millions) $26.4 $31.4 $0.3 $1.4 $9.0 $0.1 Multi-family Non-Residential Commercial Construction Residential Home Equity NPL's $68.6MM

M&A History and Strategy Experienced and disciplined acquirer and integrator Opportunistic acquisition strategy with an emphasis on: Low premium deals Similar or complementary business models Expansion in existing or contiguous markets Cultural compatibility Focus on limiting tangible book value dilution and earn- back periods while generating strong EPS accretion and operating leverage 12

Select Technology Partners 13

XML

Cover	Oct. 27, 2022
Cover [Abstract]
Document Type	8-K
Document Period End Date	Oct. 27, 2022
Entity Incorporation, State or Country Code	MD
Entity File Number	001-37399
Entity Tax Identification Number	30-0870244
Entity Address, Address Line One	120 Passaic Avenue
Entity Address, City or Town	Fairfield
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07004
City Area Code	(973)
Local Phone Number	244-4500
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(g) Security	Common Stock, $0.01 par value
Trading Symbol	KRNY
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0001617242
Entity Registrant Name	KEARNY FINANCIAL CORP.