ISBC 2017 Form 10-K & 2018 Proxy Statement

FORM 10-K INVESTORS BANCORP, INC. AND SUBSIDIARY Notes to Consolidated Financial Statements 17. Earnings Per Share The following is a summary of our earnings per share calculations and reconciliation of basic to diluted earnings per share. For the Year Ended December 31, 2017 2016 2015 (Dollars in thousands, except per share data) Earnings for basic and diluted earnings per common share Earnings applicable to common stockholders $ 126,744 $ 192,125 $ 181,505 Shares Weighted-average common shares outstanding — basic 290,183,952 297,580,834 329,763,527 Effect of dilutive common stock equivalents (1) 1,782,523 3,374,051 3,169,921 Weighted-average common shares outstanding — diluted 291,966,475 300,954,885 332,933,448 Earnings per common share Basic $ 0.44 $ 0.65 $ 0.55 Diluted $ 0.43 $ 0.64 $ 0.55 (1) For the years ended December 31, 2017, 2016 and 2015, there were 10,246,677, 19,046,222, and 18,200,877 equity awards, respectively, that could potentially dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented. 135