Business News • MarketWire • Kearny Financial Corp. Reports Fourth Quarter 2015 Operating Results |
Kearny Financial Corp. Reports Fourth Quarter 2015 Operating Results |
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Kearny Financial Corp. Reports Fourth Quarter 2015 Operating Results
FAIRFIELD, NJ--(Marketwired - Jul 30, 2015) - Kearny Financial Corp. (NASDAQ: KRNY) (the "Company"), the holding company of Kearny Bank (the "Bank"), today reported a net loss for the quarter ended June 30, 2015 of $3.3 million, or $(0.04) per basic and diluted share. The net loss primarily reflected a $10.0 million charitable contribution made by the Company to the KearnyBank Foundation in conjunction with the closing of the Company's second-step conversion and stock offering, as discussed in greater detail below. The contribution included $5.0 million in cash and 500,000 shares of the Company's common stock valued at $10.00 per share for a total contribution of $10.0 million. After giving effect to the income tax benefit, the contribution reduced net income for the quarter by approximately $6.1 million or $0.07 per basic and diluted share.
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