ISBC 2017 Form 10-K & 2018 Proxy Statement

FORM 10-K INVESTORS BANCORP, INC. AND SUBSIDIARY Notes to Consolidated Financial Statements included $7.1 million of which were current, $203,000 of which were 30-89 days delinquent and $1.0 million of which were 90 days or more delinquent. As of December 31, 2016, PCI loans with a carrying value of $9.0 million included $7.7 million of which were current, none of which were 30-89 days delinquent and $1.3 million of which were 90 days or more delinquent. At December 31, 2017 and 2016, loans meeting the Company’s definition of an impaired loan were primarily collateral dependent loans which totaled $80.8 million and $34.4 million, respectively, with allocations of the allowance for loan losses of $1.8 million and $1.6 million for the periods ending December 31, 2017 and 2016, respectively. During the years ended December 31, 2017 and 2016, interest income received and recognized on these loans totaled $1.5 million and $1.5 million, respectively. The following tables present loans individually evaluated for impairment by portfolio segment as of December 31, 2017 and December 31, 2016: December 31, 2017 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance: Multi-family $14,776 14,819 — 14,365 249 Commercial real estate 29,736 37,288 — 29,974 404 Commercial and industrial 8,989 12,008 — 8,681 28 Construction — — — — — Total commercial loans 53,501 64,115 — 53,020 681 Residential mortgage and consumer 12,357 16,236 — 12,100 430 With an allowance recorded: Multi-family — — — — — Commercial real estate — — — — — Commercial and industrial — — — — — Construction — — — — — Total commercial loans — — — — — Residential mortgage and consumer 14,898 15,461 1,775 14,767 386 Total: Multi-family 14,776 14,819 — 14,365 249 Commercial real estate 29,736 37,288 — 29,974 404 Commercial and industrial 8,989 12,008 — 8,681 28 Construction — — — — — Total commercial loans 53,501 64,115 — 53,020 681 Residential mortgage and consumer 27,255 31,697 1,775 26,867 816 Total impaired loans $80,756 95,812 1,775 79,887 1,497 104