Kearny Bank Mortgage Rates, Fees & Info
Kearny, NJLEI: 549300N6U5XCH70TOK35
Tax ID: 22-1032860
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Review & Overview
Kearny Bank is a smaller bank specializing in Home Purchase and Refi loans. Kearny Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Dover, Trenton, and Allentown among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)Kearny Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.63% | 12/16/24 |
| 30 Year Conventional Refi | 6.04% | 12/16/24 |
| 30 Year Cash-out Refi | 6.24% | 12/16/24 |
| 15 Year Conventional Purchase | 5.44% | 12/16/24 |
| 15 Year Conventional Refi | 5.72% | 12/16/24 |
| 15 Year Cash-out Refi | 5.72% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Kearny Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
957Origination Dollar Volume (All Markets)
$444,185,000Employee count
513Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 888 | $401,920,000 | $452,613 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 16 | $14,960,000 | $935,000 | $0 | 0.00% |
| DOVER, DE (FHA|USDA|VA) | 2 | $10,730,000 | $5,365,000 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 16 | $7,230,000 | $451,875 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 18 | $4,180,000 | $232,222 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $1,110,000 | $277,500 | $0 | 0.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| READING, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Kearny Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 957 | $444,185,000 | $464,143 | $0 | 0.00% |
For 2019, Kearny Bank's most frequently originated type of loan was Conventional, with 957 originations.
Loan Reason
For 2019, Kearny Bank's most frequently cited loan purpose was Home Purchase, with 394 originations. The 2nd most popular reason was Refi, with 309 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 957 | $444,185,000 | $464,143 | $0 | 0.00% |
For 2019, Kearny Bank's most frequently cited loan duration was Other, with 957 originations.
Loan Sizing
2019 saw Kearny Bank place emphasis on $200k-400k loans with 329 originations, totaling $98,845,000 in origination value.
Applicant Income
Kearny Bank lent most frequently to those with incomes in the $150k-250k range, with 282 originations. The second most popular income band? $100k-150k, with 239 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 957 | $444,185,000 | $464,143 | $0 | 0.00% |
Kearny Bank lent most frequently to those with DTI ratios of Exempt%, with 957 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.04%
Kearny Bank has an average approval rate.
Pick Rate
Approvals leading to origination71.16%
Kearny Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 957 | $444,185,000 | $464,143 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 33 | $99,015,000 | $3,000,455 |
| Single Family (1-4 Units):Site-Built | 924 | $345,170,000 | $373,561 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Kearny Bank | 1055 Clifton Avenue Clifton, NJ 7013 | Full Service B&M | $192,696 |
| Kearny Bank | 1158 Hamburg Turnpike Wayne, NJ 7470 | Full Service B&M | $107,830 |
| Kearny Bank | 119 Paris Avenue Northvale, NJ 7647 | Full Service B&M | $55,614 |
| Kearny Bank | 130 Mountain Avenue Springfield, NJ 7081 | Full Service B&M | $68,871 |
| Kearny Bank | 1353 Ringwood Avenue Haskell, NJ 7420 | Full Service B&M | $36,550 |
| Kearny Bank | 1433 Van Houten Avenue, 3rd Floor Clifton, NJ 7013 | Full Service B&M | $154,297 |
| Kearny Bank | 1470 Garden St Hoboken, NJ 7030 | Full Service B&M | $23,214 |
| Kearny Bank | 155 Main Street Manasquan, NJ 8736 | Full Service B&M | $61,206 |
| Kearny Bank | 1903 Highway 35 Oakhurst, NJ 7755 | Full Service B&M | $54,165 |
| Kearny Bank | 2 Brick Boulevard Brick, NJ 8723 | Full Service B&M | $67,143 |
| Kearny Bank | 20 Willow Street East Rutherford, NJ 7073 | Full Service B&M | $70,184 |
| Kearny Bank | 207 Old Tappan Road Old Tappan, NJ 7675 | Full Service B&M | $54,156 |
| Kearny Bank | 216 Main Street West Orange, NJ 7052 | Full Service B&M | $24,312 |
| Kearny Bank | 2200 Route 35 Sea Girt, NJ 8750 | Full Service B&M | $99,715 |
| Kearny Bank | 2201 Bridge Avenue Point Pleasant, NJ 8742 | Full Service B&M | $38,967 |
| Kearny Bank | 247 Palisade Avenue Garfield, NJ 7026 | Full Service B&M | $36,565 |
| Kearny Bank | 250 Valley Blvd Wood-Ridge, NJ 7075 | Full Service B&M | $261,350 |
| Kearny Bank | 252 Park Ave Rutherford, NJ 7070 | Full Service B&M | $94,075 |
| Kearny Bank | 267 Changebridge Road Pine Brook, NJ 7058 | Full Service B&M | $103,152 |
| Kearny Bank | 270 Ryders Lane Milltown, NJ 8850 | Full Service B&M | $95,274 |
| Kearny Bank | 300 West Sylvania Avenue Neptune, NJ 7753 | Full Service B&M | $42,928 |
| Kearny Bank | 301 Main Street Allenhurst, NJ 7711 | Full Service B&M | $18,901 |
| Kearny Bank | 307 Stuyvesant Avenue Lyndhurst, NJ 7071 | Full Service B&M | $162,728 |
| Kearny Bank | 319 Lakeview Avenue Clifton, NJ 7011 | Full Service B&M | $56,393 |
| Kearny Bank | 33-11 Broadway Fair Lawn, NJ 7410 | Full Service B&M | $56,872 |
| Kearny Bank | 339 Main Road (Route 202) Montville, NJ 7045 | Full Service B&M | $38,491 |
| Kearny Bank | 339 Sand Lane Staten Island, NY 10305 | Full Service B&M | $19,562 |
| Kearny Bank | 369 Lanza Avenue Garfield, NJ 7026 | Full Service B&M | $75,095 |
| Kearny Bank | 401 Valley Brook Avenue Lyndhurst, NJ 7071 | Full Service B&M | $37,844 |
| Kearny Bank | 417 Bloomfield Avenue Caldwell, NJ 7006 | Full Service B&M | $106,436 |
| Kearny Bank | 425 Route 9 Bayville, NJ 8721 | Full Service B&M | $49,492 |
| Kearny Bank | 487 Pleasant Valley Way West Orange, NJ 7052 | Full Service B&M | $44,972 |
| Kearny Bank | 501 Main Street Bradley Beach, NJ 7720 | Full Service B&M | $53,120 |
| Kearny Bank | 510 State Highway 34 Matawan, NJ 7747 | Full Service B&M | $77,533 |
| Kearny Bank | 520 Main Street Spotswood, NJ 8884 | Full Service B&M | $59,321 |
| Kearny Bank | 534 Harrison Avenue Harrison, NJ 7029 | Full Service B&M | $29,065 |
| Kearny Bank | 55 Union Boulevard Wallington, NJ 7057 | Full Service B&M | $46,712 |
| Kearny Bank | 601 Frank E.Rogers Blvd. N. Harrison, NJ 7029 | Full Service B&M | $0 |
| Kearny Bank | 61 Main Avenue Ocean Grove, NJ 7756 | Full Service B&M | $46,829 |
| Kearny Bank | 611 Main Street Belmar, NJ 7719 | Full Service B&M | $39,847 |
| Kearny Bank | 614 Kearny Avenue Kearny, NJ 7032 | Full Service B&M | $619,192 |
| Kearny Bank | 627 Second Avenue Long Branch, NJ 7740 | Full Service B&M | $98,102 |
| Kearny Bank | 630 North Main Street Lanoka Harbor, NJ 8734 | Full Service B&M | $81,672 |
| Kearny Bank | 640 Bloomfield Avenue Montclair, NJ 7042 | Full Service B&M | $10,437 |
| Kearny Bank | 646 Van Houten Avenue Clifton, NJ 7013 | Full Service B&M | $46,812 |
| Kearny Bank | 653 Westwood Avenue River Vale, NJ 7675 | Full Service B&M | $39,858 |
| Kearny Bank | 661 Wyckoff Avenue Wyckoff, NJ 7481 | Full Service B&M | $88,750 |
| Kearny Bank | 689 Fifth Ave Brooklyn, NY 11215 | Full Service B&M | $59,346 |
| Kearny Bank | 700 Allaire Road Spring Lake, NJ 7762 | Full Service B&M | $71,528 |
| Kearny Bank | 700 Branch Avenue Little Silver, NJ 7739 | Full Service B&M | $43,958 |
| Kearny Bank | 718b Buckingham Drive Lakewood, NJ 8701 | Full Service B&M | $38,693 |
| Kearny Bank | 80 Ridge Road North Arlington, NJ 7031 | Full Service B&M | $130,146 |
| Kearny Bank | 827 Fischer Blvd Toms River, NJ 8753 | Full Service B&M | $89,459 |
| Kearny Bank | 875 Manhattan Avenue Brooklyn, NY 11222 | Full Service B&M | $13,460 |
| Kearny Bank | 917 Route 23 Pompton Plains, NJ 7444 | Full Service B&M | $73,923 |
For 2019, Kearny Bank had 55 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $239,876 |
| Net interest income | $149,490 |
| Total noninterest income | $11,985 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $2,682 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $9,303 |
| Pre-tax net operating income | $56,564 |
| Securities gains (or losses, -) | $-326 |
| Income before extraordinary items | $42,276 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $42,276 |
| Minority interest net income | $0 |
| Net income | $42,276 |
| Sale, conversion, retirement of capital stock, net | $8,420 |
| Net operating income | $42,533 |
Kearny Bank's gross interest income from loans was $239,876,000.
Kearny Bank's net interest income from loans was $149,490,000.
Kearny Bank's fee based income from loans was $2,682,000.
Kearny Bank's net income from loans was $42,276,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $90,386 |
| Provision for credit losses | $-1,761 |
| Total noninterest expense | $106,672 |
| Salaries and employee benefits | $62,757 |
| Premises and equipment expense | $16,556 |
| Additional noninterest expense | $27,359 |
| Applicable income taxes | $13,962 |
| Net charge-offs | $828 |
| Cash dividends | $170,232 |
Kearny Bank's interest expense for loans was $90,386,000.
Kearny Bank's payroll and benefits expense were $62,757,000.
Kearny Bank's property, plant and equipment expenses $16,556,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 12.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $4,257,977 |
| Deposits held in domestic offices | $4,257,977 |
| Deposits by Individuals, partnerships, and corporations | $3,994,998 |
| Deposits by U.S. Government | $17 |
| Deposits by States and political subdivisions in the U.S. | $207,482 |
| Deposits by Commercial banks and other depository institutions in U.S. | $55,480 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $235,513 |
| Demand deposits | $135,595 |
| Nontransaction accounts | $4,022,464 |
| Money market deposit accounts (MMDAs) | $392,313 |
| Other savings deposits (excluding MMDAs) | $1,643,050 |
| Total time deposits | $1,987,101 |
| Total time and savings deposits | $4,122,382 |
| Noninterest-bearing deposits | $336,962 |
| Interest-bearing deposits | $3,921,015 |
| Retail deposits | $3,921,960 |
| IRAs and Keogh plan accounts | $322,906 |
| Brokered deposits | $68,356 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $6,589,030 |
| Cash & Balances due from depository institutions | $36,470 |
| Interest-bearing balances | $8,129 |
| Total securities | $1,423,279 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $4,467,712 |
| Loan and leases loss allowance | $30,937 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $72,944 |
| Other real estate owned | $178 |
| Goodwill and other intangibles | $215,702 |
| All other assets | $372,745 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $6,589,030 |
| Total Liabilities | $5,599,645 |
| Total deposits | $4,257,977 |
| Interest-bearing deposits | $3,921,015 |
| Deposits held in domestic offices | $4,257,977 |
| % insured (estimated) | $81 |
| Federal funds purchased and repurchase agreements | $15,000 |
| Trading liabilities | $0 |
| Other borrowed funds | $1,292,543 |
| Subordinated debt | $0 |
| All other liabilities | $34,125 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $4,467,712 |
| Loan and leases loss allowance | $30,937 |
| Total loans and leases (domestic) | $4,498,649 |
| All real estate loans | $4,426,322 |
| Real estate loans in domestic offices | $4,426,322 |
| Construction and development loans | $20,875 |
| Residential 1-4 family construction | $2,490 |
| Other construction, all land development and other land | $18,385 |
| Loans secured by nonfarm nonresidential properties | $985,810 |
| Nonfarm nonresidential secured by owner-occupied properties | $87,718 |
| Commercial real estate & other non-farm, non-residential | $898,092 |
| Multifamily residential real estate | $2,021,353 |
| 1-4 family residential loans | $1,398,284 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $67,419 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $4,908 |
| Credit card loans | $0 |
| Related Plans | $91 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $4,817 |
| All other loans & leases | $0 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $5,534 |
| Non 1-4 family restructured loans & leases | $2,734 |
| Total loans and leases (foreign) | $0 |
Kearny Bank had $4,467,712,000 of loans outstanding in 2019. $4,426,322,000 of loans were in real estate loans. $20,875,000 of loans were in development loans. $2,021,353,000 of loans were in multifamily mortgage loans. $1,398,284,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 316 | $99,413 | $314,598 |
| Nonfarm, nonresidential loans - <$100k | 8 | $206 | $25,750 |
| Nonfarm, nonresidential loans - $100-250k | 68 | $7,434 | $109,324 |
| Nonfarm, nonresidential loans - $250k-1MM | 240 | $91,773 | $382,388 |
| Commercial & Industrial, US addressed loans - <$1MM | 499 | $34,576 | $69,291 |
| Commercial & Industrial, US addressed loans - <$100k | 271 | $8,701 | $32,107 |
| Commercial & Industrial, US addressed loans - $100-250k | 119 | $10,196 | $85,681 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 109 | $15,679 | $143,844 |