Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

                                 JANUARY 2, 2007
                                 Date of Report
                        (Date of earliest event reported)

                             KEARNY FINANCIAL CORP.
             (Exact name of Registrant as specified in its Charter)

       United States                       0-51093             22-3803741
-----------------------------          ---------------         ----------
 (State or other jurisdiction          (SEC Commission        (IRS Employer
     of incorporation)                    File No.)           Identification

120 Passaic Avenue, Fairfield, New Jersey                    07004
-----------------------------------------                ------------
(Address of principal executive offices)                  (Zip Code)

Registrant's telephone number, including area code: (973)244-4500

                                 Not Applicable
                         (Former name or former address,
                          if changed since last Report)

     Check the  appropriate  box below if the Form 8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

___  Written communications pursuant to Rule 425 under the Securities Act
___  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
___  Pre-commencement   communications  pursuant  to  Rule  14d-2(b)  under  the
     Exchange Act
___  Pre-commencement   communications  pursuant  to  Rule  13e-4(c)  under  the
     Exchange Act

                             KEARNY FINANCIAL CORP.



     (a) On January 2, 2007, the Audit  Committee of the Kearny  Financial Corp.
(the  "Company")  Board of  Directors  determined  that the Company will need to
restate the financial statements contained in its Annual Report on Form 10-K for
the fiscal year ended June 30, 2006 and  Quarterly  Reports on Form 10-Q for the
quarterly periods ended March 31, 2006 and September 30, 2006 (collectively, the
"Financial  Statements") and the previously issued Financial Statement should no
longer be relied upon.

     The Company previously  disclosed its intention to reclassify its portfolio
of securities held to maturity (consisting primarily of municipal bonds and to a
lesser  degree U.S.  government  obligations)  to available  for sale during the
quarter  ending  December  31, 2006,  for the purpose of executing  sales of the
municipal  bonds at opportune  times.  A decline in pre-tax  income  reduces the
advantage of holding  tax-exempt  instruments  and their yield is  substantially
below  market.  The carrying  value of the municipal  bond  portfolio was $199.0
million at September 30, 2006.  During the three months ended December 31, 2006,
the Company sold $105.9 million of the bonds recording a nominal gain.

     The  determination  has now been made by the  Audit  Committee  that  under
Statement of Financial  Accounting  Standards No. 115,  "Accounting  for Certain
Investments in Debt and Equity Securities," an error was made in not making this
reclassification  during the quarter  ended March 31, 2006 when the Company sold
all of the government  agency notes held in the portfolio.  Notwithstanding  the
Company's  decision  to make  the  reclassification  during  the  quarter  ended
December  31,  2006 in order to  permit  management  to make  periodic  sales of
securities  from this portfolio when the  opportunity  presents  itself,  proper
accounting  treatment of the securities held to maturity  portfolio required the
change to already have been made. Furthermore, the Audit Committee believes that
this reclassification  should be extended to mortgage-backed  securities held to
maturity and included in the Financial Statements for the fiscal year ended June
30, 2006 and quarterly periods ended March 31, 2006 and September 30, 2006.

     The effect of this  change is that the  securities  will be reported in the
Financial  Statements  at fair value  instead of at amortized  cost,  which will
result in a change  in the  value of these  assets  previously  reported  on the
statements of financial condition at March 31, 2006, June 30, 2006 and September
30, 2006.  Carrying these  securities at fair value will impact the  accumulated
other comprehensive income (loss), which is a component of stockholders' equity.
The  adjustments  to be made to the Financial  Statements are non-cash in nature
and do not result in changes to the income  statements  or  previously  reported
total net income for any period.

     The Company intends to file the restated  Financial  Statements  during the
first quarter of the 2007  calendar  year.  The Audit  Committee for the Company
discussed with the Company's  independent  accountant  the matters  disclosed in
this filing.


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  Report  to be  signed  on its  behalf by the
undersigned, hereunto duly authorized.

                                        KEARNY FINANCIAL CORP.

Date: January 8, 2007               By: /s/ William C. Ledgerwood
                                       William C. Ledgerwood
                                       Senior Vice President and Chief Financial