ISBC 2017 Form 10-K & 2018 Proxy Statement

FORM 10-K INVESTORS BANCORP, INC. AND SUBSIDIARY Notes to Consolidated Financial Statements Balance Sheets December 31, 2017 2016 (In thousands) Assets: Cash and due from bank $ 194,848 195,114 Securities available-for-sale, at estimated fair value 5,903 6,918 Investment in subsidiary 2,800,867 2,792,474 ESOP loan receivable 90,794 92,839 Other assets 42,196 43,711 Total Assets $3,134,608 3,131,056 Liabilities and Stockholders’ Equity: Total liabilities $ 9,157 7,811 Total stockholders’ equity 3,125,451 3,123,245 Total Liabilities and Stockholders’ Equity $3,134,608 3,131,056 Statements of Operations Year Ended December 31, 2017 2016 2015 (In thousands) Income: Interest on ESOP loan receivable $ 3,481 3,084 3,151 Dividend from subsidiary 131,400 30,000 — Interest on deposit with subsidiary 2 2 2 Interest and dividends on investments 277 132 65 Gain on securities transactions — 72 1,682 Other income 2 — — 135,162 33,290 4,900 Expenses: Interest expense 144 120 54 Other expenses 2,578 3,933 3,170 Income before income tax expense 132,440 29,237 1,676 Income tax expense 276 452 540 Income before undistributed earnings of subsidiary 132,164 28,785 1,136 (Dividend in excess of earnings) equity in undistributed earnings of subsidiary (5,420) 163,340 180,370 Net income $126,744 192,125 181,506 132