UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________ FORM 10-Q __________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to Commission File Number 001-37399 _________________________ ...

Financial Performance - Net income for Q3 2022 was $16.5 million, a decrease of 16.2% from $19.7 million in Q3 2021[148]. - Net interest income decreased by $1.1 million to $48.5 million in Q3 2022, compared to $49.6 million in Q3 2021[149]. - Net interest margin decreased by 30 basis points to 2.69% in Q3 2022 from 2.99% in Q3 2021[150]. - Total non-interest income increased by $2.1 million to $5.9 million in Q3 2022[157]. - Total non-interest expense increased by $185,000 to $32.0 million in Q3 2022[159]. - Provision for income taxes decreased by $2.0 million to $5.3 million in Q3 2022 from $7.3 million in Q3 2021[162]. Asset and Liability Management - Total assets increased by $169.7 million to $7.89 billion at September 30, 2022, from $7.72 billion at June 30, 2022[128]. - Net loans receivable increased by $238.0 million, or 4.4%, to $5.61 billion at September 30, 2022, from $5.37 billion at June 30, 2022[132]. - Total deposits increased by $246.0 million, or 4.2%, to $6.11 billion at September 30, 2022, from $5.86 billion at June 30, 2022[142]. - Nonperforming assets decreased by $14.8 million to $77.4 million, or 0.98% of total assets, at September 30, 2022[136]. - The allowance for credit losses totaled $47.6 million, or 0.84% of total loans, reflecting an increase of $555,000 from $47.1 million at June 30, 2022[139]. - Investment securities available for sale decreased by $80.9 million to $1.26 billion at September 30, 2022[129]. Capital Management - Stockholders' equity decreased by $19.0 million to $875.0 million at September 30, 2022, from $894.0 million at June 30, 2022[145]. - Book value per share decreased by $0.14 to $12.88 at September 30, 2022[146]. - The company repurchased 759,806 shares of common stock at a cost of $8.7 million during the quarter ended September 30, 2022[147]. - Total capital to risk-weighted assets ratio was 12.67% as of September 30, 2022, exceeding the minimum regulatory requirement of 8.00%[169]. - Total capital to risk-weighted assets increased to $781,745 (14.49%) as of September 30, 2022, compared to $672,274 (13.10%) on June 30, 2022[170]. - Tier 1 capital to risk-weighted assets rose to $747,258 (13.85%) as of September 30, 2022, up from $642,336 (12.52%) on June 30, 2022[170]. - Common equity tier 1 capital to risk-weighted assets improved to $747,258 (13.85%) as of September 30, 2022, compared to $642,336 (12.52%) on June 30, 2022[170]. Interest Rate Risk - Economic Value of Equity (EVE) decreased by 19.96% to $971,747 under a +300 basis points interest rate scenario as of September 30, 2022[177]. - Net Interest Income (NII) decreased by 8.98% to $177,190 under a +300 basis points interest rate scenario as of September 30, 2022[177]. - The company adopted a five-year capital transition relief period for the implementation of CECL, with the two-year delay ending on June 30, 2022[170]. - Interest rate risk is managed through an Asset/Liability Management (ALM) program overseen by the Board of Directors[173]. - The company’s internal interest rate risk analysis measures the sensitivity of projected NII and EVE to interest rate changes[174]. - As of September 30, 2022, the company’s interest rate risk analysis included scenarios of immediate and permanent shifts in the yield curve up and down by 100, 200, and 300 basis points[176]. - The company's net interest income (NII) is projected to decrease by 15.37% to $1,089,795 thousand under a +300 bps interest rate scenario[178]. - Under a +200 bps scenario, NII is expected to decline by 10.21% to $1,156,219 thousand[178]. - A +100 bps change in interest rates would result in a NII decrease of 3.71%, bringing it to $1,239,935 thousand[178]. - The baseline NII at 0 bps is reported at $1,287,700 thousand, with no percentage change[178]. - A -100 bps scenario indicates a slight NII decrease of 1.20%, resulting in $1,272,203 thousand[178]. - The company's economic value of equity (EVE) is projected to decrease by 15.37% to $178,865 thousand under a +300 bps scenario[178]. - EVE is expected to decline by 10.21% to $187,601 thousand under a +200 bps scenario[178]. - The company acknowledges that future interest rates and their impact on NII are unpredictable and based on numerous assumptions[180]. - Changes in market interest rates can significantly alter projected cash flows of interest-earning assets and interest-costing liabilities[179]. - The company highlights that certain assets and liabilities may react differently to changes in market interest rates, affecting overall interest rate risk exposure[180].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended June 30, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37399 KEARNY FINANCIAL CORP. (Exact name of Registrant as specified in its Charter) Maryland 30-0870244 (State or Other Jurisdiction of ...

Financial Position - Total assets increased by $106.2 million to $7.39 billion at March 31, 2022, from $7.28 billion at June 30, 2021[138]. - Net loans receivable increased by $166.1 million, or 3.5%, to $4.96 billion at March 31, 2022, from $4.79 billion at June 30, 2021[141]. - Total deposits increased by $43.4 million, or 0.8%, to $5.53 billion at March 31, 2022, from $5.49 billion at June 30, 2021[152]. - The balance of borrowings increased by $165.3 million to $851.2 million at March 31, 2022, from $685.9 million at June 30, 2021[153]. - The aggregate balance of other assets increased by $26.3 million to $717.4 million at March 31, 2022, from $691.2 million at June 30, 2021[150]. - Stockholders' equity decreased by $87.8 million to $955.2 million as of March 31, 2022, from $1.04 billion at June 30, 2021, primarily due to share repurchases of $96.0 million and cash dividends of $23.0 million[155]. Credit Quality - The allowance for credit losses decreased by $14.3 million to $43.9 million, or 0.87% of total loans, at March 31, 2022, from $58.2 million, or 1.19% of total loans, at June 30, 2021[148]. - Nonperforming assets increased by $1.1 million to $81.0 million, or 1.10% of total assets, at March 31, 2022[145]. - The provision for credit losses reversed to $3.9 million for the quarter ended March 31, 2022, compared to a provision of $1.1 million for the same quarter in 2021, attributed to improved economic forecasts[168]. - Provision for credit losses reversed to $11.7 million for the nine months ended March 31, 2022, compared to a provision of $3.8 million in the prior year, reflecting an improvement in the economic forecast[189]. Income and Expenses - Net income for the quarter ended March 31, 2022, was $17.7 million, or $0.25 per diluted share, compared to $16.4 million, or $0.20 per diluted share for the same quarter in 2021, reflecting a decrease in the provision for credit losses[159]. - Net interest income decreased by $756,000 to $47.7 million for the quarter ended March 31, 2022, compared to $48.5 million for the same quarter in 2021, due to a $4.6 million decrease in interest income[161]. - Total non-interest income decreased by $1.4 million to $3.2 million for the quarter ended March 31, 2022, with a decrease in loan sale gains largely due to lower average sales prices and volume[171]. - Total non-interest expense increased by $807,000 to $30.6 million for the quarter ended March 31, 2022, driven by higher salaries and employee benefits[174]. - Net income for the nine months ended March 31, 2022, was $56.2 million, or $0.78 per diluted share, compared to $44.8 million, or $0.53 per diluted share for the same period in 2021, reflecting an increase in net interest income[180]. - Net interest income increased by $6.8 million to $146.0 million for the nine months ended March 31, 2022, compared to $139.2 million for the same period in 2021, due to a decrease in interest expense[182]. - Total non-interest income decreased by $6.4 million to $11.1 million for the nine months ended March 31, 2022, with a notable decrease in gain on sale of loans by $2.9 million to $2.4 million[190][192]. - Total non-interest expense decreased by $1.8 million to $92.1 million for the nine months ended March 31, 2022, despite an increase in salaries and employee benefits by $4.9 million[194]. Taxation - Provision for income taxes increased by $6.4 million to $20.6 million for the nine months ended March 31, 2022, reflecting a higher level of pre-tax net income[200]. - Effective tax rates rose to 26.8% for the nine months ended March 31, 2022, compared to 24.1% in the prior year[202]. Capital and Liquidity - Liquidity included $62.4 million of short-term cash and equivalents and $1.53 billion of investment securities classified as available for sale as of March 31, 2022[204]. - The company actively seeks to maintain its status as a well-capitalized institution in accordance with regulatory standards[208]. - As of March 31, 2022, the total capital to risk-weighted assets ratio was 14.14%, compared to 17.22% as of June 30, 2021[210]. - Tier 1 capital to risk-weighted assets ratio was 13.57% at March 31, 2022, down from 16.42% at June 30, 2021[210]. - Common equity tier 1 capital to risk-weighted assets ratio was 13.57% at March 31, 2022, compared to 16.42% at June 30, 2021[210]. - The total capital to risk-weighted assets ratio was 16.97% at March 31, 2022, down from 19.65% at June 30, 2021[210]. Interest Rate Risk - The company maintains an Asset/Liability Management (ALM) program to manage interest rate risk, overseen by the Board of Directors[215]. - Interest rate risk is a significant market risk for the company, affecting both earnings and capital[215]. - The company had $310 million in overnight borrowings as of March 31, 2022, compared to $20 million at June 30, 2021, indicating increased interest rate sensitivity[219]. - Economic Value of Equity (EVE) at March 31, 2022, was $1,293,258 thousand, with a sensitivity analysis showing a decrease of 11.91% under a +300 basis points scenario[219]. - Net Interest Income (NII) for the 1 to 12 months period at March 31, 2022, was projected at $204,792 thousand under a 0 basis points scenario[219]. - The company has adopted a five-year transition relief for the estimated impact of CECL on regulatory capital[210].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37399 KEARNY FINANCIAL CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpora ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37399 KEARNY FINANCIAL CORP. (Exact name of registrant as specified in its charter) Maryland 30-0870244 (State or other juri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended June 30, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37399 KEARNY FINANCIAL CORP. (Exact name of Registrant as specified in its Charter) Maryland 30-0870244 (State or Other Jurisdiction of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37399 Washington, D.C. 20549 FORM 10-Q Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the ...

[PART I—FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%E2%80%94FINANCIAL%20INFORMATION) This section presents Kearny Financial Corp.'s unaudited consolidated financial information, including statements, management's analysis, market risk, and controls [Item 1: Financial Statements](index=3&type=section&id=Item%201%3A%20Financial%20Statements) This section presents Kearny Financial Corp.'s unaudited consolidated financial statements as of December 31, 2020, detailing financial condition, income, and cash flows [Consolidated Statements of Financial Condition](index=3&type=section&id=Consolidated%20Statements%20of%20Financial%20Condition) This section presents consolidated financial condition, detailing asset, liability, and equity changes between December 31, 2020, and June 30, 2020 - Total assets increased to **$7.34 billion** at December 31, 2020, from $6.76 billion at June 30, 2020, driven by growth in net loans receivable and investment securities[9](index=9&type=chunk) - Total deposits grew significantly to **$5.31 billion** from $4.43 billion, while borrowings decreased from $1.17 billion to $865.7 million over the same period[9](index=9&type=chunk) Consolidated Statements of Financial Condition (Unaudited) | (In Thousands) | Dec 31, 2020 | Jun 30, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $129,694 | $180,967 | | Investment securities available for sale | $1,695,893 | $1,385,703 | | Net loans receivable | $4,765,248 | $4,461,070 | | Goodwill | $210,895 | $210,895 | | **Total Assets** | **$7,335,153** | **$6,758,175** | | **Liabilities & Stockholders' Equity** | | | | Total deposits | $5,312,613 | $4,430,282 | | Borrowings | $865,651 | $1,173,165 | | **Total Liabilities** | **$6,242,812** | **$5,673,998** | | **Total Stockholders' Equity** | **$1,092,341** | **$1,084,177** | [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) This section details consolidated income statements, comparing financial performance for the three and six-month periods ended December 31, 2020 and 2019 - Net income for the three months ended December 31, 2020, was **$16.9 million**, a significant increase from $10.7 million in the same period of 2019; for the six-month period, net income rose to **$28.3 million** from $22.0 million year-over-year[11](index=11&type=chunk) - The growth in net income was driven by a **$10.0 million** increase in Net Interest Income for the quarter, resulting from a substantial decrease in interest expense on deposits and borrowings[11](index=11&type=chunk) Key Income Statement Data (Unaudited, In Thousands) | | Three Months Ended Dec 31, | Six Months Ended Dec 31, | | :--- | :--- | :--- | | | **2020** | **2019** | **2020** | **2019** | | **Net Interest Income** | $44,553 | $34,607 | $88,715 | $71,294 | | **Total Non-Interest Income** | $7,154 | $4,554 | $14,887 | $8,516 | | **Total Non-Interest Expense** | $30,510 | $26,427 | $64,083 | $52,671 | | **Net Income** | $16,948 | $10,652 | $28,327 | $22,022 | | **Diluted EPS** | $0.20 | $0.13 | $0.33 | $0.26 | [Notes to Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section provides detailed notes explaining accounting policies, significant events, and specific financial data within the consolidated statements - On July 1, 2020, the Company adopted the new CECL accounting standard (ASU 2016-13), resulting in a **$20.2 million** increase to the allowance for credit losses and a **$14.2 million** reduction to stockholders' equity, net of tax[35](index=35&type=chunk)[63](index=63&type=chunk) - The Company completed its acquisition of MSB Financial Corp. on July 10, 2020, resulting in a bargain purchase gain of **$3.1 million**; the transaction involved distributing approximately **$9.8 million** in cash and 5.85 million shares of company stock[52](index=52&type=chunk)[54](index=54&type=chunk) - As of December 31, 2020, the company had 37 non-TDR modified loans totaling **$33.2 million** due to COVID-19 and the CARES Act[85](index=85&type=chunk)[86](index=86&type=chunk)[87](index=87&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=53&type=section&id=Item%202%3A%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial condition and operating results, analyzing COVID-19 and MSB acquisition impacts, liquidity, capital, and share repurchases [Impact of COVID-19](index=53&type=section&id=Impact%20of%20COVID-19) This section outlines operational adjustments, loan programs, and financial relief measures implemented by the company due to COVID-19 - The company adapted operations due to COVID-19 by transitioning most non-branch personnel to remote work and implementing safety measures, with all branches fully operational by December 31, 2020[175](index=175&type=chunk)[176](index=176&type=chunk) - Under the Paycheck Protection Program (PPP), the company held 72 loans with outstanding balances of **$39.2 million** as of December 31, 2020, including acquired MSB loans[179](index=179&type=chunk) - As of December 31, 2020, the company granted loan modifications (deferrals) under the CARES Act to 37 loans totaling **$33.2 million**, representing **0.68%** of total loans[187](index=187&type=chunk)[188](index=188&type=chunk) [Comparison of Financial Condition at December 31, 2020 and June 30, 2020](index=56&type=section&id=Comparison%20of%20Financial%20Condition%20at%20December%2031%2C%202020%20and%20June%2030%2C%202020) This section compares the company's financial condition, including assets, liabilities, and equity, between December 31, 2020, and June 30, 2020 - Total assets grew by **$577.0 million** to **$7.34 billion**, partly due to the MSB acquisition, driven by increases in investment securities (+$310.2 million) and net loans receivable (+$304.2 million)[189](index=189&type=chunk)[190](index=190&type=chunk)[193](index=193&type=chunk) - Total deposits increased by **$882.3 million**, reflecting $460.2 million from the MSB acquisition and $422.1 million in organic growth, while borrowings decreased by **$307.5 million**[205](index=205&type=chunk)[206](index=206&type=chunk) - The Allowance for Credit Losses (ACL) increased by **$26.1 million** to **$63.4 million**, primarily due to CECL adoption (+$19.6 million) and establishing ACL for acquired MSB loans (+$9.0 million)[201](index=201&type=chunk) - Stockholders' equity increased by **$8.2 million** to **$1.09 billion**, driven by $45.1 million in stock issued for MSB acquisition and $28.3 million in net income, offset by $45.7 million in share repurchases, $13.6 million in dividends, and a $14.2 million CECL adjustment[209](index=209&type=chunk) [Comparison of Operating Results](index=59&type=section&id=Comparison%20of%20Operating%20Results) This section compares operating results for the three and six-month periods ended December 31, 2020 and 2019, focusing on net income and interest income Quarterly Operating Results Comparison (Q2 FY21 vs Q2 FY20) | (In Millions) | Q2 FY21 (Ended Dec 31, 2020) | Q2 FY20 (Ended Dec 31, 2019) | Change | | :--- | :--- | :--- | :--- | | Net Income | $16.9 | $10.7 | +$6.2 | | Diluted EPS | $0.20 | $0.13 | +$0.07 | | Net Interest Income | $44.6 | $34.6 | +$10.0 | | Net Interest Margin | 2.64% | 2.29% | +35 bps | Six-Month Operating Results Comparison | (In Millions) | Six Months Ended Dec 31, 2020 | Six Months Ended Dec 31, 2019 | Change | | :--- | :--- | :--- | :--- | | Net Income | $28.3 | $22.0 | +$6.3 | | Diluted EPS | $0.33 | $0.26 | +$0.07 | | Net Interest Income | $88.7 | $71.3 | +$17.4 | | Net Interest Margin | 2.65% | 2.36% | +29 bps | - The increase in net interest income for both periods was primarily driven by a significant reduction in interest expense on deposits and borrowings, offsetting a decrease in interest-earning asset yield[217](index=217&type=chunk)[243](index=243&type=chunk) - Non-interest income for the six-month period increased by **$6.4 million**, largely due to a **$3.1 million** bargain purchase gain from the MSB acquisition and a **$3.0 million** increase in gains on loan sales[252](index=252&type=chunk)[254](index=254&type=chunk)[255](index=255&type=chunk) [Liquidity and Capital Resources](index=66&type=section&id=Liquidity%20and%20Capital%20Resources) This section details the company's liquidity position, including cash, securities, and borrowing capacity, alongside its regulatory capital compliance - As of December 31, 2020, the company maintained a strong liquidity position with **$129.7 million** in cash, **$1.70 billion** in available-for-sale securities, and significant borrowing capacity from FHLB of New York (**$1.75 billion**) and FRB (**$292.0 million**)[271](index=271&type=chunk) - The company and its bank subsidiary exceeded all regulatory capital requirements to be considered well-capitalized as of December 31, 2020[276](index=276&type=chunk) Company Capital Ratios at December 31, 2020 | Capital Ratio | Actual | Required for Adequacy | | :--- | :--- | :--- | | Total capital (to risk-weighted assets) | 20.96% | 8.00% | | Tier 1 capital (to risk-weighted assets) | 20.05% | 6.00% | | Common equity tier 1 capital | 20.05% | 4.50% | | Tier 1 capital (to adjusted total assets) | 12.38% | 4.00% | [Item 3: Quantitative and Qualitative Disclosure About Market Risk](index=69&type=section&id=Item%203%3A%20Quantitative%20and%20Qualitative%20Disclosure%20About%20Market%20Risk) The company manages interest rate risk through its ALM program, with NII and EVE sensitivity analysis indicating moderate risk, especially to falling rates Economic Value of Equity (EVE) Sensitivity Analysis at Dec 31, 2020 | Change in Interest Rates | % Change in EVE | | :--- | :--- | | +300 bps | (3)% | | +200 bps | +1% | | +100 bps | +3% | | -100 bps | (12)% | Net Interest Income (NII) Sensitivity Analysis at Dec 31, 2020 | Change in Interest Rates | % Change in NII (One Year) | | :--- | :--- | | +300 bps | (5.28)% | | +200 bps | (2.57)% | | +100 bps | (0.12)% | | -100 bps | (2.38)% | [Item 4: Controls and Procedures](index=71&type=section&id=Item%204%3A%20Controls%20and%20Procedures) Management concluded disclosure controls were effective, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of December 31, 2020[293](index=293&type=chunk) - There were no material changes to the company's internal control over financial reporting during the quarter[294](index=294&type=chunk) [PART II—OTHER INFORMATION](index=72&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) This section provides additional information including legal proceedings, risk factors, equity security sales, and a list of exhibits [Item 1: Legal Proceedings](index=72&type=section&id=Item%201%3A%20Legal%20Proceedings) As of December 31, 2020, the company reported no material pending legal proceedings beyond routine business matters - The company reports no material pending legal proceedings outside of the ordinary course of business[297](index=297&type=chunk) [Item 1A: Risk Factors](index=72&type=section&id=Item%201A%3A%20Risk%20Factors) No material changes to previously disclosed risk factors were reported for the quarter ended December 31, 2020 - No material changes to previously disclosed risk factors were reported for the quarter[298](index=298&type=chunk) [Item 2: Unregistered Sales of Equity Securities and Use of Proceeds](index=72&type=section&id=Item%202%3A%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 4.5 million shares at $10.14 average during the quarter under its fourth and fifth plans, with a sixth plan authorized in January 2021 Issuer Purchases of Equity Securities (Quarter Ended Dec 31, 2020) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | October 2020 | - | $- | | November 2020 | 2,172,758 | $9.74 | | December 2020 | 2,335,931 | $10.51 | | **Total** | **4,508,689** | **$10.14** | - On October 19, 2020, the company resumed its fourth stock repurchase plan and announced a new fifth plan; a sixth plan to repurchase up to **5%** of outstanding stock was authorized on January 22, 2021[300](index=300&type=chunk)[301](index=301&type=chunk) [Item 6: Exhibits](index=73&type=section&id=Item%206%3A%20Exhibits) This section lists exhibits filed as part of the Form 10-Q report, including corporate documents, certifications, and financial data in Inline XBRL

Financial Performance - Total assets increased to $7,310,209 thousand as of September 30, 2020, up from $6,758,175 thousand as of June 30, 2020, representing an 8.15% growth[9] - Net loans receivable rose to $4,889,890 thousand, a 9.6% increase from $4,461,070 thousand in the previous quarter[9] - Total interest income for the three months ended September 30, 2020, was $60,884 thousand, compared to $59,899 thousand for the same period in 2019, reflecting a 1.6% increase[11] - Net interest income after provision for credit losses was $40,103 thousand, up from $37,469 thousand year-over-year, indicating a 4.4% growth[11] - Non-interest income surged to $7,733 thousand, a significant increase of 95.5% from $3,962 thousand in the prior year[11] - Total non-interest expense increased to $33,573 thousand, compared to $26,244 thousand in the same quarter last year, marking a 27.9% rise[11] - Net income for the three months ended September 30, 2020, was $11,379 thousand, slightly up from $11,370 thousand in the same period of 2019[12] - Basic and diluted earnings per share remained stable at $0.13 for both September 30, 2020, and 2019[13] Deposits and Cash Flow - Total deposits increased to $5,039,912 thousand, a 13.8% rise from $4,430,282 thousand in the previous quarter[9] - The net increase in deposits for the three months ended September 30, 2020, was $150,000 thousand, significantly higher than the $49,978 thousand increase in the same period of 2019[24] - Cash dividends paid in Q3 2020 amounted to $6,877 thousand, compared to $5,186 thousand in Q3 2019, representing an increase of 32.6%[24] - Total cash provided by operating activities decreased to $6,136 thousand in Q3 2020 from $10,948 thousand in Q3 2019, a decline of approximately 44.5%[21] - The company reported a net cash used in investing activities of $(25,369) thousand for Q3 2020, a decrease from $107,357 thousand in Q3 2019[24] Credit Losses and Provisions - The provision for credit losses was $4,059 thousand in Q3 2020, compared to a reversal of $(782) thousand in Q3 2019, indicating a shift towards increased credit loss provisions[21] - The Company adopted ASU 2016-13 on July 1, 2020, increasing its allowance for credit losses by $20.2 million, which included $19.6 million for loans receivable and $536,000 for unfunded commitments[33] - The allowance for credit losses is established through a provision charged against income, reflecting a critical accounting policy due to the high degree of judgment involved[34] - The total allowance for credit losses reached $64,860 thousand as of September 30, 2020, compared to $32,432 thousand at September 30, 2019, indicating a year-over-year increase of 100%[114] - The allowance for credit losses associated with TDRs was $210,000 as of September 30, 2020, up from $8,000 as of June 30, 2020[77] Acquisitions and Mergers - The Company completed the acquisition of MSB Financial Corp. on July 10, 2020, distributing approximately $9.8 million in cash and 5,853,811 shares of common stock to former MSB shareholders[51] - The acquisition resulted in a bargain purchase gain of $3.1 million and a core deposit intangible of $690,000, with fair values recorded as of the acquisition date[52] - The total purchase price for the acquisition of MSB was $54.963 million, consisting of $9.830 million in cash and $45.133 million in stock issued[53] - Total assets acquired amounted to $581.942 million, with loans receivable adjusted to $530.244 million after fair value adjustments[53] Loan Performance - The total loans outstanding as of September 30, 2020, were $4.998 billion, compared to $4.540 billion as of June 30, 2020, indicating a growth of approximately 10.1%[76] - The total past due loans amounted to $32,791,000 as of September 30, 2020, compared to $28,815,000 as of June 30, 2020, reflecting an increase in past due status[74] - The company’s total securities available for sale increased to $1,508,542,000 as of September 30, 2020, from $1,385,703,000 as of June 30, 2020, marking a growth of approximately 8.8%[144] Tax and Regulatory Changes - The effective income tax rate for the three months ended September 30, 2020, was 20.22%, compared to 25.13% for the same period in 2019[138] - The total income tax expense for the three months ended September 30, 2020, was $2,884,000, down from $3,817,000 for the same period in 2019[138] - The deferred income tax assets as of September 30, 2020, amounted to $45,744,000, an increase from $37,399,000 as of June 30, 2020[138] Securities and Investments - The fair value of available-for-sale securities as of September 30, 2020, was $1.508 billion, with total gross unrealized gains of $27.783 million[64] - The net unrealized gain on securities available for sale increased to $24,041,000 as of September 30, 2020, from $22,482,000 on June 30, 2020[157] - The total accumulated other comprehensive income rose to $3,974,000 by September 30, 2020, compared to $1,257,000 at the end of June 2020[157]