Brief: Kearny Financial Corp Announces Wholesale Restructuring, Adoption Of Operating Efficiency Initiative

Kearny Financial

08/12/2022 15:53

Dec 8 (Reuters) - Kearny Financial Corp  KRNY.O :
    * KEARNY FINANCIAL CORP. ANNOUNCES WHOLESALE RESTRUCTURING
AND
ADOPTION OF OPERATING EFFICIENCY INITIATIVE
    * KEARNY FINANCIAL CORP - EXECUTED SALE OF $121.4 MILLION OF
LOWER-YIELDING AVAILABLE-FOR-SALE DEBT SECURITIES FOR ESTIMATED
AFTER-TAX LOSS OF ABOUT $11.0 MILLION
    * KEARNY FINANCIAL CORP - ANNOUNCED ADOPTION OF A
COMPANY-WIDE
OPERATING EFFICIENCY INITIATIVE
    * KEARNY FINANCIAL CORP - ACTIONS INCLUDE REDUCTION OF
VENDOR
SPEND, AND REALIGNMENT OF COMPANY'S WORKFORCE
    * KEARNY FINANCIAL CORP - LOSS ON SALE OF SECURITIES IS
EXPECTED
TO HAVE A NOMINAL IMPACT ON TANGIBLE BOOK VALUE

Source text for Eikon:  ID:nGNX92D5pY 
Further company coverage:  KRNY.O 
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