ISBC 2017 Form 10-K & 2018 Proxy Statement

FORM 10-K INVESTORS BANCORP, INC. AND SUBSIDIARY Notes to Consolidated Financial Statements The following presents the estimated future amortization expense of other intangible assets for the next five years: Mortgage Servicing Rights Core Deposit Premiums Other (In thousands) 2018 $437 $1,974 $87 2019 463 1,521 87 2020 479 1,112 87 2021 494 756 67 2022 506 466 57 7. Deposits Deposits are summarized as follows: December 31, 2017 2016 Weighted Average Rate Amount % of Total Weighted Average Rate Amount % of Total (In thousands) Non-interest bearing: Checking accounts —% $ 2,424,608 13.97% —% $ 2,173,493 14.22% Interest-bearing: Checking accounts 0.91% 4,909,054 28.28% 0.45% 3,916,208 25.63% Money market deposits 0.90% 4,243,545 24.45% 0.65% 4,150,583 27.16% Savings 0.48% 2,320,228 13.37% 0.29% 2,092,989 13.70% Certificates of deposit 1.13% 3,460,262 19.93% 0.91% 2,947,560 19.29% Total Deposits 0.77% $17,357,697 100.00% 0.51% $15,280,833 100.00% Included in the above balances for the years ended December 31, 2017 and December 31, 2016 are money market deposits of $709.7 million and $736.8 million, respectively, obtained through brokers and certificates of deposit of $759.5 million and $687.8 million, respectively, obtained through brokers. Scheduled maturities of certificates of deposit are as follows: December 31, 2017 2016 (In thousands) Within one year $2,841,219 1,866,000 One to two years 388,261 674,552 Two to three years 97,091 237,506 Three to four years 65,116 62,500 After four years 68,575 107,002 $3,460,262 2,947,560 The aggregate amount of certificates of deposit in denominations of $100,000 or more totaled approximately $2.37 billion and $1.94 billion at December 31, 2017 and December 31, 2016, respectively. 109