Investors Bancorp, Inc. ISBC Income Statement

Investors bancorp, inc. (ISBC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Interest and dividend income:
Loans receivable and loans held-for-sale
224,529	228,005	231,734	227,462	224,890	221,566	216,516	211,791	204,722	204,017	201,069	192,891	185,961	187,913	179,234	175,922	172,832	169,641	169,216	165,515	159,052	155,540	152,397	149,531	145,970	134,940	127,186	122,636	119,860
Securities:
Equity
33	35	36	35	37	34	32	33	35	31	30	30	48	51	49	47	51	50	25	24	24	26	24	21	44	20	18	19	4
Government-sponsored enterprise obligations
306	336	343	267	266	267	266	273	274	275	175	28	8	8	8	9	11	11	11	12	11	10	12	12	12	6	1	1	1
Mortgage-backed securities
22,584	23,642	23,978	23,883	23,630	21,627	19,624	19,633	20,022	19,015	17,829	17,274	16,709	15,631	14,653	14,830	15,097	14,723	14,171	13,385	12,817	12,374	11,704	10,992	9,113	7,721	7,123	6,636	6,577
Municipal bonds and other debt
3,375	3,052	3,186	2,734	2,522	5,755	2,615	2,432	2,258	2,329	2,229	2,136	4,068	1,665	2,039	2,057	1,952	1,778	1,535	1,024	1,592	1,526	1,339	1,548	1,254	1,472	1,406	1,463	1,532
Other Investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Interest-bearing deposits
840	840	821	609	535	894	677	409	455	1,005	875	177	107	88	76	74	104	101	68	27	29	173	70	274	35	8	20	11	10
Federal Home Loan Bank stock
4,432	4,470	4,456	4,078	4,337	4,278	4,296	3,831	3,801	3,645	3,557	2,972	3,193	2,724	2,315	2,021	2,060	1,834	1,871	1,542	1,634	1,441	1,512	1,711	2,197	1,876	1,643	1,428	1,450
Total interest and dividend income
256,099	260,380	264,554	259,068	256,217	254,421	244,026	238,402	231,567	230,317	225,764	215,508	210,094	208,080	198,374	194,960	192,107	188,138	186,897	181,529	175,159	171,090	167,058	164,089	158,625	146,043	137,397	132,194	129,434
Interest expense:
Deposits
53,179	60,635	67,972	67,828	65,422	58,279	51,923	42,067	36,376	33,723	32,300	25,336	22,184	20,418	20,326	20,588	20,725	20,302	18,664	16,429	16,019	15,960	14,489	14,385	14,372	13,301	11,730	12,250	12,688
Borrowed funds
29,637	30,970	32,130	32,072	28,117	26,836	25,177	25,034	22,707	21,904	22,553	23,116	20,791	18,951	18,442	17,067	16,819	17,019	16,959	16,548	14,699	14,957	14,724	14,941	15,063	14,490	15,243	15,235	14,705
Total interest expense
82,816	91,605	100,102	99,900	93,539	85,115	77,100	67,101	59,083	55,627	54,853	48,452	42,975	39,369	38,768	37,655	37,544	37,321	35,623	32,977	30,718	30,917	29,213	29,326	29,435	27,791	26,973	27,485	27,393
Net interest income
173,283	168,775	164,452	159,168	162,678	169,306	166,926	171,301	172,484	174,690	170,911	167,056	167,119	168,711	159,606	157,305	154,563	150,817	151,274	148,552	144,441	140,173	137,845	134,763	129,190	118,252	110,424	104,709	102,041
Provision for credit losses
31,226	1,500	-2,500	-3,000	3,000	3,500	2,000	4,000	2,500	4,500	1,750	6,000	4,000	4,750	5,000	5,000	5,000	5,000	5,000	7,000	9,000	11,500	9,000	8,000	9,000	9,250	13,750	13,750	13,750
Net interest income after provision for credit losses
142,057	167,275	166,952	162,168	159,678	165,806	164,926	167,301	169,984	170,190	169,161	161,056	163,119	163,961	154,606	152,305	149,563	145,817	146,274	141,552	135,441	128,673	128,845	126,763	120,190	109,002	96,674	90,959	88,291
Non-interest income
Fees and service charges
6,026	6,819	5,796	5,654	5,335	5,948	5,506	5,230	5,458	5,360	5,076	4,962	4,928	4,223	4,108	4,637	4,180	4,170	4,347	4,578	4,024	4,069	5,173	5,325	4,832	4,474	5,003	4,926	4,401
Income on bank owned life insurance
1,396	1,593	1,832	1,540	1,577	1,501	1,596	1,543	1,286	916	935	1,166	725	1,156	1,006	1,001	1,260	987	949	975	1,037	1,055	1,632	1,034	931	716	694	731	757
Gain on loans, net
1,846	2,218	1,679	1,015	433	746	478	663	257	263	726	1,206	992	1,272	1,401	1,677	437	1,325	2,138	3,104	1,219	1,492	856	1,263	1,646	1,446	2,226	2,002	3,074
Gain on securities, net
202	-13	30	-5,617	64	-32,802	97	1,147	-46	0	0	48	1,227	0	72	1,640	1,388	19	933	42	42	878	29	108	531	66	15	7	684
Gain on sale of other real estate owned, net
740	282	358	281	224	573	13	184	153	-280	446	251	174	163	35	131	-233	491	830	238	72	75	270	333	131	763	226	532	-70
Other income
4,450	9,559	5,085	4,108	3,561	3,240	2,597	2,711	2,002	1,960	1,212	1,687	1,657	1,691	1,898	2,383	1,675	1,709	2,109	2,648	2,139	2,305	1,912	2,110	3,871	965	1,327	1,340	1,243
Total non-interest income
14,660	20,458	14,780	6,981	11,194	-20,794	10,287	11,478	9,110	8,219	8,395	9,320	9,703	8,505	8,520	11,469	8,707	8,701	11,306	11,585	8,533	9,874	9,872	10,173	11,942	7,453	9,491	9,538	10,089
Non-interest expense
Compensation and fringe benefits
60,392	59,327	63,603	59,854	60,998	56,789	59,279	60,799	59,061	58,970	57,052	53,881	57,274	48,223	53,051	53,607	51,817	48,620	49,024	45,344	43,332	38,902	40,137	53,213	39,816	38,293	31,592	29,056	29,824
Advertising and promotional expense
2,363	3,005	2,994	4,282	3,612	3,931	3,229	3,807	2,087	3,455	4,355	4,516	2,085	3,004	1,495	2,451	1,694	2,456	3,260	2,737	2,535	3,238	3,046	3,385	2,569	2,368	2,023	2,397	1,814
Office occupancy and equipment expense
15,951	16,700	15,702	15,423	16,171	17,093	15,151	14,717	16,578	17,740	14,589	14,333	14,847	14,608	14,099	13,703	13,810	13,467	12,856	11,996	12,546	12,645	12,040	12,232	12,751	10,200	10,386	9,411	9,229
Federal deposit insurance premiums
4,401	3,300	3,300	3,300	3,300	3,800	4,935	4,525	4,500	4,500	4,500	3,900	3,710	3,383	3,600	2,800	2,400	2,250	2,200	2,400	2,200	2,840	2,750	4,000	4,800	3,900	3,800	3,600	3,650
General and administrative
534	559	487	692	484	626	509	693	500	763	691	842	734	724	641	949	817	993	1,742	786	851	903	939	1,183	1,213	951	866	991	587
Professional fees
3,983	4,897	6,010	3,461	2,940	3,497	3,578	3,801	4,402	8,712	8,140	14,580	7,421	5,611	5,673	4,807	4,013	4,511	3,880	4,442	3,271	2,987	4,121	3,774	3,790	3,269	2,789	2,364	2,732
Data processing and communication
7,792	7,998	8,348	7,642	7,999	7,491	7,090	7,106	6,123	6,871	5,719	5,914	5,860	5,221	5,299	4,962	5,561	5,591	5,979	5,346	5,450	5,647	6,381	7,141	6,164	7,058	4,694	4,436	3,656
Contribution to charitable foundation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	20,000	-	-	0	0	-
Other operating expenses
7,142	11,037	8,274	9,150	7,905	8,996	8,017	7,136	7,834	8,463	8,228	8,302	7,627	8,237	7,540	7,730	7,034	7,779	6,980	6,785	6,723	6,762	7,170	7,226	6,095	5,820	4,681	4,642	4,632
Total non-interest expenses
102,558	106,823	108,718	103,804	103,409	102,223	101,788	102,584	101,085	109,474	103,274	106,268	99,558	89,011	91,398	91,009	87,146	85,667	85,921	79,836	76,908	73,924	76,584	112,154	77,198	71,859	60,831	56,897	56,124
Total before tax
54,159	-	73,014	65,345	67,463	-	73,425	76,195	78,009	-	74,282	64,108	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income tax expense
-	-	-	-	-	-	-	-	-	-	-	-	73,264	83,455	71,728	72,765	71,124	68,851	71,659	73,301	67,066	64,623	62,133	24,782	54,934	44,596	45,334	43,600	42,256
Income tax expense
14,647	32,180	21,042	18,721	19,305	9,459	19,201	19,098	20,084	73,689	28,437	24,475	27,244	30,989	21,878	27,625	26,455	24,449	22,865	26,939	25,119	21,547	23,092	9,596	20,516	17,089	16,053	15,524	15,089
Net Income (Loss) Attributable to Parent
39,512	48,730	51,972	46,624	48,158	33,330	54,224	57,097	57,925	-4,754	45,845	39,633	46,020	52,466	49,850	45,140	44,669	44,402	48,794	46,362	41,947	43,076	39,041	15,186	34,418	27,507	29,281	28,076	27,167
Basic earnings per share (usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.14	0.12	-	-	-	-	-	-	-	-
Earnings Per Share, Basic
0.17	-	0.20	0.18	0.18	-	0.19	0.20	0.20	-	0.16	0.14	0.16	-	0.17	0.15	0.14	-	0.15	-	-	-	0.11	0.04	0.10	-	0.11	0.10	0.10
Earnings Per Share, Diluted
0.17	0.18	0.20	0.18	0.18	0.13	0.19	0.20	0.20	-0.03	0.16	0.14	0.16	0.18	0.17	0.15	0.14	-	0.15	-	-	-	0.11	0.04	-	-	0.11	-	0.10
Weighted average shares outstanding
Weighted Average Number of Shares Outstanding, Basic
233,262	256,431	261,678	263,035	267,664	274,756	280,755	284,502	287,685	288,707	289,715	291,127	291,185	290,738	292,000	298,417	309,166	317,473	324,065	333,277	344,237	345,664	343,493	344,455	343,943	294,462	275,229	274,712	274,124
Weighted Average Number of Shares Outstanding, Diluted
233,632	256,518	261,812	263,477	268,269	275,129	281,172	285,733	289,131	290,437	290,890	293,130	293,407	294,241	294,673	301,952	312,951	320,616	327,193	336,452	347,470	348,055	346,773	347,980	348,116	298,329	278,861	277,842	277,109