ISBC 2017 Form 10-K & 2018 Proxy Statement

FORM 10-K INVESTORS BANCORP, INC. AND SUBSIDIARY Notes to Consolidated Financial Statements 16. Selected Quarterly Financial Data (Unaudited) The following tables are a summary of certain quarterly financial data for the years ended December 31, 2017 and 2016. 2017 Quarter Ended March 31 June 30 September 30 December 31 (In thousands, except per share data) Interest and dividend income $210,094 215,508 225,764 230,317 Interest expense 42,975 48,452 54,853 55,627 Net interest income 167,119 167,056 170,911 174,690 Provision for loan losses 4,000 6,000 1,750 4,500 Net interest income after provision for loan losses 163,119 161,056 169,161 170,190 Non-interest income 9,703 9,320 8,395 8,219 Non-interest expenses 99,558 106,268 103,274 109,474 Income before income tax expense 73,264 64,108 74,282 68,935 Income tax expense 27,244 24,475 28,437 73,689 Net income (loss) $ 46,020 39,633 45,845 (4,754) Basic earnings per common share $ 0.16 0.14 0.16 (0.02) Diluted earnings per common share $ 0.16 0.14 0.16 (0.02) 2016 Quarter Ended March 31 June 30 September 30 December 31 (In thousands, except per share data) Interest and dividend income $192,107 194,960 198,374 208,079 Interest expense 37,544 37,655 38,768 39,369 Net interest income 154,563 157,305 159,606 168,710 Provision for loan losses 5,000 5,000 5,000 4,750 Net interest income after provision for loan losses 149,563 152,305 154,606 163,960 Non-interest income 8,707 11,469 8,520 8,504 Non-interest expenses 87,146 91,009 91,398 89,010 Income before income tax expense 71,124 72,765 71,728 83,454 Income tax expense 26,455 27,625 21,878 30,989 Net income $ 44,669 45,140 49,850 52,465 Basic earnings per common share $ 0.14 0.15 0.17 0.18 Diluted earnings per common share $ 0.14 0.15 0.17 0.18 134