From the Bank
Kearny Bank is a community bank founded in 1884 as New Jersey mutual building and loan association. The association obtained federal insurance of accounts in 1939 and received a federal charter in 1941. In February 2015, Kearny Bank changed its name from Kearny Federal Savings Bank to Kearny Bank. Kearny Bank is wholly owned by Kearny Financial Corp. (the "Company"), a Maryland corporation organized as a fully public holding company. Today the Company has assets of $4.50 billion. Kearny Bank's deposits are insured by the Federal Deposit Insurance Corporation.
Easy Setup, Super Friendly Service.
I receive the promo in the mail, and was surprised with the high interest rate. I easily signed up at the bank and and was set up. I received two calls thanking me and reviewed my needs. Large checks do take a little while to clear since I was "new". I didn't quite do 10 debits the first month due to the month cutting off prior to the 30th, but they still gave the high interest. Paperless is easy to do and setting up one auto payment was easy.
I'm enjoying the friendly service and the high rate. They are expanding branches so that's great!
High Yield Checking Not Woth It
Was lured in by the high yield checking rate, despite all the hoops they make you go through signed up any way. Must have one auto debit or credit, sign up for e-statements and have 10 debit card transactions per month. First the branch screwed up and the checks weren't ordered. By the time the checks finally arrived didn't qualify for high yield interest couldn't have the direct deposit set up without the checks. Signed up for e-statements but kept receiving paper statements, had to call the bank. Was told it wasn't showing as enrolled. Again it was fixed but missed out on another month of the high yield interest. No longer receiving paper statement but was not receiving e-mail alerts had to call bank again. Now told that it is a joint account and am not listed as primary no e-mail was sent. It was supposed to be fixed. Guess what it wasn't so 5 months after opening the account it is still not right. I can't recommend this bank not consumer friendly.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 28765 |
| Year Established | 1884 |
| Employees | 529 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.55% |
| Return on Equity - YTD | 5.72% |
| Annual Interest Income | $156.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $8.06B$7.72B |
| Loans | Q2 2023vs Q2 2022 | $5.79B$5.40B |
| Deposits | Q2 2023vs Q2 2022 | $5.69B$5.96B |
| Equity Capital | Q2 2023vs Q2 2022 | $794.1MM$788.0MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $48.7MM$47.1MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $42.6MM$92.0MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $13.0MM$178.00K |
