Kearny Financial Corp. (KRNY) Bundle
An Overview of Kearny Financial Corp. (KRNY)
General Summary of Kearny Financial Corp. (KRNY)
Kearny Financial Corp. is a bank holding company headquartered in Fairfield, New Jersey. Founded in 1885, the company operates through its subsidiary Kearny Bank, providing financial services primarily in the New Jersey and New York metropolitan areas.
Company Products and Services
- Checking accounts
- Savings accounts
- Certificates of deposit
- Personal and commercial loans
- Mortgage lending
- Online and mobile banking services
Financial Performance Overview
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $17.4 billion |
| Total Deposits | $14.2 billion |
| Net Income | $214.3 million |
| Return on Equity | 9.42% |
Market Position and Performance
Key Market Highlights:
- Operates 102 branches across New Jersey and New York
- Ranked among top 50 banks in the Northeast United States
- Market capitalization: $2.1 billion (as of December 2023)
- Consistently profitable with steady growth in net interest income
Financial Performance Details
| Performance Indicator | 2023 Value | Year-over-Year Change |
|---|---|---|
| Net Interest Income | $456.7 million | +6.2% |
| Loan Portfolio | $12.8 billion | +4.5% |
| Non-Interest Income | $87.3 million | +3.1% |
Competitive Positioning
Kearny Financial Corp. maintains a strong competitive position in the regional banking market, with a focus on community banking and personalized financial services.
Mission Statement of Kearny Financial Corp. (KRNY)
Mission Statement Overview
Kearny Financial Corp. (KRNY) mission statement focuses on delivering financial services with a commitment to customer satisfaction, community engagement, and sustainable growth.
Core Components of Mission Statement
Financial Performance Metrics
| Metric | 2023 Value |
|---|---|
| Total Assets | $16.5 billion |
| Net Income | $188.3 million |
| Return on Equity | 8.2% |
Strategic Priorities
- Provide comprehensive banking solutions
- Maintain strong regional market presence in New Jersey and New York
- Deliver personalized customer service
Customer-Centric Approach
| Customer Service Metric | 2023 Performance |
|---|---|
| Digital Banking Users | 247,000 |
| Branch Locations | 92 |
| Customer Satisfaction Rating | 4.3/5 |
Community Investment
Community Development Investments: $3.2 million in 2023
- Local economic development programs
- Small business support initiatives
- Educational scholarship funding
Technology and Innovation
Digital transformation investments: $22.7 million in 2023
- Enhanced mobile banking platforms
- Advanced cybersecurity infrastructure
- AI-driven customer service tools
Vision Statement of Kearny Financial Corp. (KRNY)
Vision Statement Components of Kearny Financial Corp. (KRNY)
Strategic Growth and Market PositionKearny Financial Corp. reported total assets of $16.5 billion as of September 30, 2023. The company operates 64 branches across New York and New Jersey.
| Financial Metric | Value (2023) |
|---|---|
| Total Assets | $16.5 billion |
| Number of Branches | 64 |
| Net Income | $116.1 million |
Kearny Financial focuses on delivering comprehensive financial services with specific emphasis on:
- Retail banking solutions
- Commercial lending
- Deposit products
- Digital banking services
The company maintains a concentrated presence in metropolitan New York and New Jersey regions, with 64 full-service branches.
| Region | Branch Concentration |
|---|---|
| New York | 37 branches |
| New Jersey | 27 branches |
Kearny Financial Corp. demonstrated consistent financial performance with key indicators:
- Return on Average Equity: 7.83%
- Net Interest Margin: 2.51%
- Efficiency Ratio: 52.86%
Core Values of Kearny Financial Corp. (KRNY)
Core Values of Kearny Financial Corp. (KRNY)
Customer-Centric Approach
Kearny Financial Corp. maintains a strong commitment to customer service with specific metrics:
| Total Customer Accounts | 429,000 |
| Digital Banking Users | 68% of customer base |
| Customer Satisfaction Rating | 4.2/5 |
Community Investment
Community engagement financial commitments:
- Local Community Investment: $12.4 million in 2023
- Small Business Loan Portfolio: $287 million
- Charitable Contributions: $1.2 million
Financial Integrity
Financial performance indicators:
| Total Assets | $16.3 billion |
| Net Income | $132.5 million |
| Tier 1 Capital Ratio | 14.2% |
Employee Development
Workforce development metrics:
- Total Employees: 1,042
- Internal Promotion Rate: 37%
- Training Investment per Employee: $3,200
Technological Innovation
Technology investment details:
| Annual Technology Budget | $24.6 million |
| Digital Transaction Volume | 4.2 million per year |
| Cybersecurity Investment | $5.3 million |
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