Earnings release
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kearnyfinancial corp . NEWS RELEASE Kearny Financial Corp. Reports Fiscal 2021 Second Quarter Results 1/28/2021 FAIRFIELD , N.J. , Jan. 28 , 2021 ( GLOBE NEWSWIRE ) -- Kearny Financial Corp. ( NASDAQ GS : KRNY ) ( the " Company " ) , the holding company of Kearny Bank ( the " Bank " ) , reported net income for the quarter ended December 31 , 2020 of $ 16.9 million , or $ 0.20 per diluted share , compared to $ 11.4 million , or $ 0.13 per diluted share , for the quarter ended September 30 , 2020 . As previously reported , net income for the quarter ended September 30 , 2020 was impacted by various non- recurring items which were recognized in conjunction with the Company's acquisition of MSB Financial Corp. ( " MSB " ) and its subsidiary Millington Bank . Excluding the effects of these non - recurring items , net of tax , net income for the quarter ended September 30 , 2020 would have been $ 15.0 million or $ 0.17 per diluted share . Craig L. Montanaro , President and Chief Executive Officer , commented , " I am pleased to report another quarter of very strong core earnings resulting from a combination of cost of funds reductions , expense control efforts and operating efficiencies gained from the MSB acquisition . Despite the operational challenges presented by the pandemic , our business generation efforts continue unabated and we have had outstanding success retaining and growing core deposits , in particular within the markets previously served by Millington Bank . " With regard to the Company's share repurchase program , Mr. Montanaro further noted , " Our robust capital position allowed us to resume our share repurchase program on October 19 , 2020 and , since that time , we have been opportunistic buyers of our stock . During the quarter we repurchased approximately 4.5 million shares at an average price of $ 10.14 per share , or 98.2 % of tangible book value at December 31 , 2020. In this environment we continue to believe that repurchases represent an excellent strategy to build long - term shareholder value . " Balance Sheet 1