ISBC 2017 Form 10-K & 2018 Proxy Statement

FORM 10-K INVESTORS BANCORP, INC. AND SUBSIDIARY Notes to Consolidated Financial Statements December 31, 2017 Carrying Value Estimated fair value (In thousands) Due in one year or less $ 38,333 38,333 Due after one year through five years — — Due after five years through ten years 50,544 51,184 Due after ten years 43,086 81,219 Total $131,963 170,736 Gross unrealized losses on securities and the estimated fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2017 and December 31, 2016, was as follows: December 31, 2017 Less than 12 months 12 months or more Total Estimated fair value Unrealized losses Estimated fair value Unrealized losses Estimated fair value Unrealized losses (In thousands) Available-for-sale: Equity Securities $ 4,778 113 — — 4,778 113 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 365,078 3,115 220,744 6,085 585,822 9,200 Federal National Mortgage Association 684,327 6,276 447,310 13,103 1,131,637 19,379 Government National Mortgage Association 14,981 283 23,227 1,086 38,208 1,369 Total mortgage-backed securities available-for-sale 1,064,386 9,674 691,281 20,274 1,755,667 29,948 Total available-for-sale securities 1,069,164 9,787 691,281 20,274 1,760,445 30,061 Held-to-maturity: Debt securities: Government-sponsored enterprises $ 42,596 685 — — 42,596 685 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 290,340 2,946 111,849 2,493 402,189 5,439 Federal National Mortgage Association 369,484 2,380 430,955 9,900 800,439 12,280 Government National Mortgage Association 51,126 867 — — 51,126 867 Total mortgage-backed securities held-to-maturity 710,950 6,193 542,804 12,393 1,253,754 18,586 Total held-to-maturity securities $ 753,546 6,878 542,804 12,393 1,296,350 19,271 Total $1,822,710 16,665 1,234,085 32,667 3,056,795 49,332 93