Kearny Financial targets 5%-10% annualized reduction in operating expense

Given the prevailing economic and interest rate environment, the Company has also embarked upon a company-wide operating efficiency initiative, targeting an annualized reduction in operating expense of five to ten percent. The goal of this initiative is to improve the Company’s cost structure through cost-reduction and cost-containment initiatives. These include actions surrounding the optimization and reduction of vendor spend, the automation or outsourcing of routine activities, and the realignment of the Company’s workforce.