Kearny Financial Corp. Debt Disclosure
| June 30, 2025 | June 30, 2024 | ||||||||||
| (In Thousands) | |||||||||||
| FHLB advances | $ | 1,106,491 | $ | 1,434,789 | |||||||
| Federal Reserve Bank Term Funding Program ("BTFP") | — | 100,000 | |||||||||
| Total fixed-rate advances | 1,106,491 | 1,534,789 | |||||||||
Overnight borrowings(1) | 150,000 | 175,000 | |||||||||
| Total borrowings | $ | 1,256,491 | $ | 1,709,789 | |||||||
| June 30, 2025 | June 30, 2024 | ||||||||||||||||||||||
| Balance | Weighted Average Interest Rate | Balance | Weighted Average Interest Rate | ||||||||||||||||||||
| (Dollars in Thousands) | |||||||||||||||||||||||
| By remaining period to maturity: | |||||||||||||||||||||||
| Less than one year | $ | 906,500 | 4.44 | % | $ | 1,328,500 | 5.25 | % | |||||||||||||||
| One to two years | — | — | 6,500 | 2.82 | % | ||||||||||||||||||
| Two to three years | 200,000 | 3.98 | % | — | — | ||||||||||||||||||
| Three to four years | — | — | 200,000 | 3.98 | % | ||||||||||||||||||
| Four to five years | — | — | — | — | |||||||||||||||||||
| Greater than five years | — | — | — | — | |||||||||||||||||||
| Total advances | 1,106,500 | 4.36 | % | 1,535,000 | 5.07 | % | |||||||||||||||||
| Unamortized fair value adjustments | (9) | (211) | |||||||||||||||||||||
| Total advances, net of fair value adjustments | $ | 1,106,491 | $ | 1,534,789 | |||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 21, 2025 | Showing above |
| 2024 | Aug 23, 2024 | |
| 2023 | Aug 25, 2023 | |
| 2022 | Aug 26, 2022 | |
| 2021 | Aug 27, 2021 | |
| 2020 | Aug 28, 2020 | |
| 2019 | Aug 28, 2019 | |
| 2018 | Aug 28, 2018 | |
| 2017 | Aug 29, 2017 | |
| 2016 | Aug 29, 2016 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.