ISBC 2017 Form 10-K & 2018 Proxy Statement

FORM 10-K INVESTORS BANCORP, INC. AND SUBSIDIARY Consolidated Balance Sheets December 31, 2017 December 31, 2016 (In thousands except share data) ASSETS Cash and cash equivalents $ 618,394 164,178 Securities available-for-sale, at estimated fair value 1,987,727 1,660,433 Securities held-to-maturity, net (estimated fair value of $1,820,125 and $1,782,801 at December 31, 2017 and 2016, respectively) 1,796,621 1,755,556 Loans receivable, net 19,852,101 18,569,855 Loans held-for-sale 5,185 38,298 Federal Home Loan Bank stock 231,544 237,878 Accrued interest receivable 72,855 65,969 Other real estate owned 5,830 4,492 Office properties and equipment, net 180,231 177,417 Net deferred tax asset 121,663 222,277 Bank owned life insurance 155,635 161,940 Goodwill and intangible assets 97,665 101,839 Other assets 3,793 14,543 Total assets $25,129,244 23,174,675 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities: Deposits $17,357,697 15,280,833 Borrowed funds 4,461,533 4,546,251 Advance payments by borrowers for taxes and insurance 104,308 105,851 Other liabilities 80,255 118,495 Total liabilities 22,003,793 20,051,430 Commitments and contingencies Stockholders’ equity: Preferred stock, $0.01 par value, 100,000,000 authorized shares; none issued — — Common stock, $0.01 par value, 1,000,000,000 shares authorized; 359,070,852 issued at December 31, 2017 and 2016; 306,126,087 and 309,449,388 outstanding at December 31, 2017 and 2016, respectively 3,591 3,591 Additional paid-in capital 2,784,390 2,765,732 Retained earnings 1,084,177 1,053,750 Treasury stock, at cost; 52,944,765 and 49,621,464 shares at December 31, 2017 and 2016, respectively (633,110) (587,974) Unallocated common stock held by the employee stock ownership plan (84,258) (87,254) Accumulated other comprehensive loss (29,339) (24,600) Total stockholders’ equity 3,125,451 3,123,245 Total liabilities and stockholders’ equity $25,129,244 23,174,675 See accompanying notes to consolidated financial statements. 78