Kearny Financial Corp. Announces Wholesale Restructuring and Adoption of Operating Efficiency Initiative
FAIRFIELD, N.J., Dec. 08, 2022 (GLOBE NEWSWIRE) — Kearny Financial Corp. (NASDAQ GS: KRNY) (the 'Company'), the holding company of Kearny Bank (the...
FAIRFIELD, N.J., Dec. 08, 2022 (GLOBE NEWSWIRE) — Kearny Financial Corp. (NASDAQ GS: KRNY) (the 'Company'), the holding company of Kearny Bank (the 'Bank'), announced today the completion of a wholesale restructuring related to its investment securities portfolio. In addition, the Company announced the adoption of a company-wide operating efficiency initiative.Wholesale RestructuringThe Company executed the sale of $121.4 million of its lower-yielding available-for-sale debt securities for an estimated after-tax loss of approximately $11.