ISBC 2017 Form 10-K & 2018 Proxy Statement

FORM 10-K INVESTORS BANCORP, INC. AND SUBSIDIARY Notes to Consolidated Financial Statements Interest expense on deposits consists of the following: For the Years Ended December 31, 2017 2016 2015 (In thousands) Checking accounts $ 37,091 16,268 9,642 Money market deposits 34,366 25,621 24,136 Savings 8,395 6,304 6,402 Certificates of deposit 33,691 33,864 31,234 Total $113,543 82,057 71,414 8. Borrowed Funds Borrowed funds are summarized as follows: December 31, 2017 2016 Principal Weighted Average Rate Principal Weighted Average Rate (Dollars in thousands) Funds borrowed under repurchase agreements: FHLB $ — —% $ 23,629 3.90% Other brokers 130,481 1.87% 131,202 1.88% Total funds borrowed under repurchase agreements 130,481 1.87% 154,831 2.19% Other borrowed funds: FHLB advances 4,331,052 1.96% 4,391,420 1.79% Other — — — —% Total other borrowed funds: 4,331,052 1.96% 4,391,420 1.79% Total borrowed funds $4,461,533 1.96% $4,546,251 1.81% Borrowed funds had scheduled maturities as follows: December 31, 2017 2016 Principal Weighted Average Rate Principal Weighted Average Rate (Dollars in thousands) Within one year $ 861,481 2.18% $ 983,629 1.26% One to two years 719,349 1.80% 862,202 2.12% Two to three years 975,000 1.95% 619,567 1.80% Three to four years 700,000 2.00% 775,000 1.96% Four to five years 700,703 1.98% 600,000 2.01% After five years 505,000 1.77% 705,853 1.84% Total borrowed funds $4,461,533 1.96% $4,546,251 1.81% 110