Website: N/A
Stock Symbol: NASDAQ: KRNY
Market Value: N/A (in millions)
The Company is a federally-chartered corporation that was organized on March 30,
2001 for the purpose of being a holding company for Kearny Federal Savings Bank
(the “Bank”), a federally-chartered stock savings bank. On February 23, 2005,
the Company completed a minority stock offering in which it sold 21,821,250
shares, representing 30% of its outstanding common stock upon completion of the
offering. The remaining 70% of the outstanding common stock, totaling 50,916,250
shares, were retained by Kearny MHC (the “MHC”). The MHC is a
federally-chartered mutual holding company and so long as the MHC is in
existence, it will at all times own a majority of the outstanding common stock
of the Company. The stock repurchase programs conducted by the Company since the
offering have reduced the total number of shares outstanding. The 50,916,250
shares held by the MHC represented 71.6% of the total shares outstanding as of
the Company’s June 30, 2007 fiscal year end.