Kearny Financial Corp. Announces Authorization for Seventh Stock Repurchase Plan

Kearny Financial Corp.

announced today that it completed its sixth stock repurchase plan by acquiring 5% of the Company's outstanding common stock held by persons other than its parent mutual holding company, Kearny MHC. Additionally, the Company announced that the Board of Directors has authorized a seventh stock repurchase plan to acquire up to 802,780 shares or 5% of the Company's currently outstanding common stock held by persons other than Kearny MHC. Such purchases will be made from time to time in the open market or in privately negotiated stock purchases, based on stock availability, price and the Company's financial performance. It is anticipated that purchases will be made during the next twelve months, although no assurance can be given as to when they will be made or to the total number of shares that will be purchased.