An undisclosed buyer enter into a contract to acquire $12.0 million Other Real Estate Owned Asset from Kearny Financial Corp. (NasdaqGS:KRNY) on December 31, 2023. Proceeds from the sale were immediately redeployed into interest earning assets and will improve forward-looking earnings thru the reduction of net OREO expenses, which totaled approximately $469 thousand for the quarter ended December 31, 2023.

An undisclosed buyer completed the acquisition of $12.0 million Other Real Estate Owned Asset from Kearny Financial Corp. (NasdaqGS:KRNY) in January 2024.