ISBC 2017 Form 10-K & 2018 Proxy Statement

FORM 10-K Equity Compensation Plan Information The information set forth in Item 12 of Part III of this Annual Report under the heading “Equity Compensation Plan Information” is incorporated by reference herein. ITEM 6. SELECTED FINANCIAL DATA The following information is derived in part from the consolidated financial statements of Investors Bancorp, Inc. As a result of the completion of the second step conversion on May 7, 2014, all share information prior to that date has been revised to reflect the 2.55-to-one exchange ratio. For additional information, reference is made to “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the Consolidated Financial Statements of Investors Bancorp, Inc. and related notes included elsewhere in this Annual Report. At December 31, 2017 2016 2015 2014 2013 (In thousands) Selected Financial Condition Data: Total assets $25,129,244 $23,174,675 $20,888,684 $18,773,639 $15,623,070 Loans receivable, net 19,852,101 18,569,855 16,661,133 14,887,570 12,882,544 Loans held-for-sale 5,185 38,298 7,431 6,868 8,273 Securities held-to-maturity 1,796,621 1,755,556 1,844,223 1,564,479 831,819 Securities available-for-sale, at estimated fair value 1,987,727 1,660,433 1,304,697 1,197,924 785,032 Bank owned life insurance 155,635 161,940 159,152 161,609 152,788 Deposits 17,357,697 15,280,833 14,063,656 12,172,326 10,718,811 Borrowed funds 4,461,533 4,546,251 3,263,090 2,766,104 3,367,274 Goodwill 77,571 77,571 77,571 77,571 77,571 Stockholders’ equity 3,125,451 3,123,245 3,311,647 3,577,855 1,334,327 Year Ended December 31, 2017 2016 2015 2014 2013 (In thousands) Selected Operating Data: Interest and dividend income $ 881,683 $ 793,521 $ 731,723 $ 660,862 $ 545,068 Interest expense 201,907 153,336 136,639 118,891 109,642 Net interest income 679,776 640,185 595,084 541,971 435,426 Provision for loan losses 16,250 19,750 26,000 37,500 50,500 Net interest income after provision for loan losses 663,526 620,435 569,084 504,471 384,926 Non-interest income 35,637 37,201 40,125 41,861 36,571 Non-interest expenses 418,574 358,564 328,332 339,860 245,711 Income before income tax expense 280,589 299,072 280,877 206,472 175,786 Income tax expense (1) 153,845 106,947 99,372 74,751 63,755 Net income $ 126,744 $ 192,125 $ 181,505 $ 131,721 $ 112,031 Earnings per share — basic $ 0.44 $ 0.65 $ 0.55 $ 0.38 $ 0.40 Earnings per share — diluted $ 0.43 $ 0.64 $ 0.55 $ 0.38 $ 0.40 (1) Income tax expense for the year ended December 31, 2017 includes $49.2 million related to the enactment of the Tax Act in December 2017. 51