Investors bancorp, inc. (ISBC)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent

195,484

202,576

126,744

192,125

181,505

131,721

112,031

88,767

Adjustments to reconcile net income to net cash provided by operating activities:
Contribution of stock to charitable foundation

-

-

-

-

-

10,000

0

0

ESOP and stock-based compensation expense

25,484

24,545

27,071

27,632

14,921

18,702

6,433

5,913

Amortization of premiums and accretion of discounts on securities, net

-9,251

-10,728

-15,077

-13,702

-13,943

-10,173

-9,735

-12,938

Amortization of premiums and accretion of fees and costs on loans, net

-3,730

-6,571

-4,506

-4,508

-10,122

-1,794

10,517

8,898

Amortization of other intangible assets

1,520

1,974

2,427

2,881

3,350

3,806

2,115

1,535

Amortization of debt modification costs

1,186

0

0

-

-

-

-

-

Provision for Loan and Lease Losses

-1,000

12,000

16,250

19,750

26,000

37,500

50,500

65,000

Depreciation and amortization of office properties and equipment

19,600

17,100

17,400

16,200

13,930

13,151

8,540

7,177

Debt and Equity Securities, Gain (Loss)

-5,536

-31,604

1,275

3,100

1,036

1,546

772

274

Other-than-temporary impairment losses on securities

-

-

-

-

-

-

977

0

Mortgage loans originated for sale

269,773

65,525

140,171

245,792

238,608

150,099

379,806

811,247

Proceeds from mortgage loan sales

247,640

68,202

175,669

219,078

590,636

186,747

405,973

820,636

Gain on sales of mortgage loans, net

3,590

1,566

2,384

4,154

5,258

2,832

6,207

18,775

Gains (Losses) on Sales of Other Real Estate

1,145

923

591

96

1,631

809

1,451

-180

Gain on bargain purchase of acquisitions

-

-

-

-

-

1,482

0

0

Income on bank owned life insurance

6,542

5,926

3,742

4,423

3,948

4,652

2,898

2,778

Amortization of operating lease right-of-use assets

17,608

0

0

-

-

-

-

-

Decrease (increase) in accrued interest receivable

1,812

4,646

6,886

7,406

3,296

7,100

-1,496

2,499

Deferred tax (benefit) expense

45,624

15,513

100,008

11,640

-3,180

-9,786

-20,818

-10,739

Increase in other assets

42,170

23,085

-19,840

-3,479

-4,245

-4,425

6,741

-18,059

Net tax benefit from stock-based compensation

-

-

-

-

-

0

-

-

Decrease in other liabilities

-78,496

-429

-38,542

-9,862

-45,332

41,263

-13,530

41,988

Total adjustments

-34,830

72,999

175,666

35,011

354,614

145,667

64,063

136,012

Net cash (used in) provided by operating activities

160,654

275,575

302,410

227,136

536,119

277,388

176,094

224,779

Cash flows from investing activities:
Purchases of loans receivable

427,053

514,040

540,898

141,562

198,623

233,856

1,054,395

638,789

Net payoffs (originations) of loans receivable

-101,227

703,577

807,105

1,795,505

1,990,008

1,650,629

778,049

297,221

Proceeds from disposition of loans receivable

227,522

11,477

48,902

10,398

49,938

2,425

184,668

77,222

Gain on disposition of loans receivable

1,755

1,251

803

646

2,528

2,425

2,541

2,091

Gain on disposition of leased equipment

5,698

0

0

-

-

-

-

-

Proceeds from sale of leased equipment

-

-

-

0

-

-

-

-

Gain on sale of leased equipment

-

-

-

0

-

-

-

-

Net proceeds from sale of other real estate owned

6,498

6,187

4,751

5,021

7,104

7,614

10,833

6,266

Proceeds from sales/calls of equity securities

0

0

1,000

122

-

-

-

-

Proceeds from principal repayments/calls/maturities of debt securities available for sale

492,419

384,181

338,049

302,769

252,683

174,255

148

0

Proceeds from sales of debt securities available for sale

399,435

632,444

102,120

57,757

0

51,093

108

85

Proceeds from paydowns/maturities on mortgage-backed securities held-to-maturity

-

-

-

-

-

-

80,438

99,892

Proceeds from calls/maturities on debt securities held-to-maturity

-

-

-

-

-

-

0

-

Proceeds from maturities of Municipal Bonds

-

-

-

-

-

-

0

-

Proceeds from paydowns/maturities on mortgage-backed securities available-for-sale

-

-

-

-

-

-

284,726

348,847

Proceeds from sales of mortgage-backed securities held-to-maturity

-

-

-

-

-

-

0

14,871

Proceeds from sales of mortgage-backed securities available-for-sale

-

-

-

-

-

-

401,573

213,562

Proceeds from maturity of US Government and Agency Obligations available-for-sale

-

-

-

-

-

-

0

3,219

Proceeds from sale of equity securities available for sale

-

-

-

-

-

-

24,540

44

Proceeds from principal repayments/calls/maturities of debt securities held to maturity

251,574

301,309

321,294

368,543

300,549

183,482

20,159

14,039

Proceeds from sales of debt securities held to maturity

-

-

-

14,300

0

19,177

-

-

Purchases of equity securities

96

90

86

97

-

-

-

-

Purchases of debt securities available for sale

1,034,131

1,182,036

785,831

744,283

375,605

587,952

-

1,000

Purchases of mortgage-backed securities available-for-sale

-

-

-

-

-

-

295,897

760,692

Purchases of mortgage-backed securities held to maturity

-

-

-

-

-

-

202,821

0

Purchases of debt securities held-to-maturity

238,670

54,836

364,837

295,157

582,337

930,256

9,729

15,421

Proceeds from redemptions of Federal Home Loan Bank stock

303,245

252,176

180,599

215,142

157,342

143,707

143,081

129,152

Purchases of Federal Home Loan Bank stock

310,230

280,866

174,265

274,583

184,492

116,403

161,866

158,353

Purchases of office properties and equipment

11,761

14,305

20,235

21,088

25,550

31,655

24,544

25,407

Death benefit proceeds from bank owned life insurance

0

3,618

10,047

-875

-6,405

-5,455

0

-9,613

Purchases of bank owned life insurance

0

125,000

0

0

-

-

-

-

Proceeds from surrender of bank owned life insurance contract

0

71,000

0

0

-

-

-

-

Cash paid for acquisition

0

340,183

0

0

-

-

-

-

Cash received from MHC for merger

-

-

-

-

-

11,307

0

0

Cash received, net of cash consideration paid for acquisitions

-

-

-

-

-

17,917

118,246

140,754

Net cash provided by (used in) investing activities

-247,474

-1,553,763

-1,687,298

-2,297,946

-2,585,122

-2,936,744

-1,261,322

-841,408

Cash flows from financing activities:
Net increase in deposits

280,069

222,572

2,076,864

1,217,177

1,891,330

1,198,843

608,801

243,462

Repayments of principal under finance leases

2

0

0

-

-

-

-

-

Net proceeds from sale of common stock

-

-

-

-

-

2,149,893

0

0

Loan to ESOP for purchase of common stock

-

-

-

-

-

66,174

0

0

Funds borrowed (repayments of funds borrowed) under other repurchase agreements

197,584

120,000

-23,000

0

-10,000

-98,205

143,205

-195,000

Net increase in borrowed funds

192,660

854,148

-61,718

1,283,161

506,986

-508,150

426,347

631,805

Net increase in advance payments by borrowers for taxes and insurance

-8,172

25,583

-1,543

-2,870

38,828

1,979

14,447

7,739

Dividends paid

122,163

113,186

101,550

82,291

87,395

42,555

22,404

5,595

Exercise of stock options

814

5,743

9,141

34,317

10,119

13,810

10,637

41

Purchase of treasury stock

475,946

258,175

59,090

363,410

382,922

13,523

1,531

902

Net tax benefit from stock-based compensation

-

-

-

-

-

3,710

1,262

93

Net cash (used in) provided by financing activities

64,844

856,685

1,839,104

2,086,084

1,966,946

2,639,628

1,180,764

681,643

Net increase (decrease) in cash and cash equivalents

-21,976

-421,503

454,216

15,274

-82,057

-19,728

95,536

65,014

Non-cash investing activities:
Real estate acquired through foreclosure and other assets repossessed

12,567

6,674

5,913

3,351

4,448

6,404

4,512

10,410

Cash paid during the year for:
Interest

390,359

275,525

197,810

152,807

135,930

118,140

109,527

123,644

Income taxes

36,146

69,271

101,948

117,127

88,169

85,796

83,918

61,994

Debt securities transferred from held-to-maturity to available-for-sale

393,359

0

0

-

-

-

-

-

Loans transferred to held-for-sale portfolio

28,373

0

0

-

347,955

32,411

0

-

Investment in low income housing tax credit

10,000

0

0

-

-

-

-

-

Right-of-Use Asset Obtained in Exchange for Operating Lease Liability

2,996

0

0

-

-

-

-

-

Acquisitions:
Non-cash assets acquired:
Investment securities available for sale

-

-

-

-

-

50,347

381,950

212,560

Loans

0

330,747

0

0

-

195,062

990,970

736,003

Goodwill and other intangible assets, net

0

4,975

0

0

-

1,853

9,782

60,347

Other assets

-

-

-

-

-

21,343

78,527

45,198

Total non-cash assets acquired

0

335,722

0

0

-

268,605

1,461,229

1,054,108

Deposits

-

-

-

-

-

254,672

1,341,153

1,163,392

Borrowings

-

-

-

-

-

5,185

92,070

13,361

Other liabilities

-

-

-

-

-

3,184

20,509

10,531

Total liabilities assumed

-

-

-

-

-

263,041

1,453,732

1,187,284

Net non-cash assets acquired

-

-

-

-

-

5,564

7,497

-

Common stock issued for acquisitions

-

-

-

-

-

0

179,171

7,561