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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities:    
Net Income $ 6,092 $ 9,842
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 1,108 1,230
Net accretion of yield adjustments (388) (614)
Deferred income taxes 875 2,426
Amortization of intangible assets 126 134
Amortization (accretion) of benefit plans’ unrecognized net loss (gain) 115 (110)
Provision for credit losses 108 245
Loans originated for sale (29,463) (20,531)
Proceeds from sale of mortgage loans held-for-sale 26,833 26,403
Loss on sale of mortgage loans held-for-sale, net (200) (215)
Realized gain on disposition of premises and equipment (1) (8)
Increase in cash surrender value of bank owned life insurance (2,567) (1,666)
ESOP and stock-based compensation expense 680 1,283
Decrease (increase) in interest receivable 54 (1,633)
Decrease (increase) in other assets 486 (10,579)
Increase in interest payable 1,625 2,134
(Decrease) increase in other liabilities (2,944) 3,943
Net Cash Provided by Operating Activities 2,539 12,284
Purchases of:    
Investment securities available for sale (37,542) (40,500)
Proceeds from:    
Repayments/calls/maturities of investment securities available for sale 63,608 24,287
Repayments/calls/maturities of investment securities held to maturity 3,455 2,705
Net (increase) decrease in loans receivable (37,293) 87,794
(Additions) deletions to premises and equipment (1,357) 219
Proceeds from death benefit of bank owned life insurance 255 0
Proceeds from cash settlement of premises and equipment 1 0
Purchase of FHLB stock (18,806) (15,913)
Redemption of FHLB stock 41,400 6,138
Net Cash Provided by Investing Activities 13,721 64,730
Cash Flows from Financing Activities:    
Net increase (decrease) in deposits 312,395 (195,003)
Repayment of term FHLB advances (1,425,000) (1,250,000)
Proceeds from term FHLB advances and other borrowings 1,100,000 1,425,000
Net increase (decrease) in other short-term borrowings 95,000 (55,000)
Net increase (decrease) in advance payments by borrowers for taxes 415 (1,431)
Repurchase and cancellation of common stock of Kearny Financial Corp. 0 (6,467)
Cancellation of shares repurchased on vesting to pay taxes (349) (399)
Dividends paid (7,011) (7,010)
Net Cash Provided by (Used in) Financing Activities 75,450 (90,310)
Net Increase (Decrease) in Cash and Cash Equivalents 91,710 (13,296)
Cash and Cash Equivalents - Beginning 63,864 70,515
Cash and Cash Equivalents - Ending 155,574 57,219
Cash paid during the period for:    
Income taxes, net of refunds 1,268 4,069
Interest $ 49,181 $ 39,874