Mission Statement, Vision, & Core Values (2024) of Kearny Financial Corp. (KRNY)

Mission Statement, Vision, & Core Values (2024) of Kearny Financial Corp. (KRNY)

US | Financial Services | Banks - Regional | NASDAQ

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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 Position

Kearny 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
Customer-Centric Approach

Kearny Financial focuses on delivering comprehensive financial services with specific emphasis on:

  • Retail banking solutions
  • Commercial lending
  • Deposit products
  • Digital banking services
Geographic Expansion Strategy

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
Financial Performance Metrics

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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