About Investors Bancorp

Investors Bancorp, Inc. operates as the holding company for Investors Bank that provides various banking products and services for businesses and individuals in the United States. The company is in the business of attracting deposits from the public through its branch network and an online channel and borrowing funds in the wholesale markets to originate loans and to invest in securities. The company originates multi-family loans, commercial real estate loans, commercial and industrial (C&I) loans, one-to four- family residential mortgage loans secured by one- to four-family residential real estate, construction loans and consumer loans, the majority of which are cash surrender value lending on life insurance contracts, home equity loans and home equity lines of credit. As of December 31, 2020, the company conducted business from their corporate headquarters in Short Hills, New Jersey, with operation centers located in Iselin, Robbinsville, Dunellen and Millburn, New Jersey, as well as lending offices within its primary market areas in Short Hills, Iselin, Robbinsville, Mount Laurel, Spring Lake, Newark and Jackson, New Jersey, the New York City boroughs of Manhattan, Queens and Brooklyn, and Islandia, New York, as well as a full-service branch network of 156 offices. The company also has lending offices in Danbury, Connecticut and Charlotte, North Carolina. Lending Activities The company’s loan portfolio includes multi-family loans, commercial real estate loans, C&I loans, construction loans, residential mortgage loans and consumer and other loans. The company also offers consumer loans, which primarily consist of cash surrender value lending on life insurance contracts, home equity loans and home equity lines of credit. Multi-family Loans: The multi-family loans in the company’s portfolio consist of both fixed-rate and adjustable-rate loans, which were originated at prevailing market rates. Multi-family loans are five to fifteen year term balloon loans amortized over fifteen to thirty years. Commercial Real Estate Loans: The company originates commercial real estate loans in New Jersey, New York and surrounding states, which are secured by industrial properties, retail buildings, office buildings and other commercial properties. Commercial real estate loans in the company’s portfolio consist of both fixed-rate and adjustable-rate loans, which were originated at prevailing market rates. Commercial real estate loans are five to fifteen year term balloon loans amortized over fifteen to thirty years. C&I Loans: The company offers a range of credit facilities to C&I clients throughout its geographic footprint and nationally. Its credit offerings are lines of credit, fixed-rate and adjustable-rate term loans and letters of credit. A significant portion of the company’s C&I loans are secured by commercial real estate and are primarily properties and businesses located in New Jersey and New York. Other collateral for these types of loans could include real estate, equipment and/or a lien on the general assets, including inventory and receivables of the underlying business, and in majority of cases are further supported by a personal guarantee of the owner. Construction Loans: The company offers loans directly to owners and developers on income-producing properties and residential for-sale housing units. Residential Mortgage Loans: The company originates residential mortgage loans for its loan portfolio and for sale to third parties. During 2020, it sold more of its residential mortgage loans originated into the secondary market. While it has also purchased mortgage loans from correspondent entities, including other banks and mortgage brokers, it did not purchase such loans in 2020. The company’s agreements call for these correspondent entities to originate loans that adhere to its underwriting standards and it acquires the loans with servicing rights. The company offers various loan programs to provide financing for low-and moderate-income home buyers, some of which include down payment assistance for home purchases. Through these programs, qualified individuals receive a reduced rate of interest on majority of its loan programs and has their application fee refunded at closing, as well as other incentives if certain conditions are met. Consumer and Other Loans: The company offers consumer loans, majority of which consist of cash surrender value lending on life insurance contracts, home equity loans and home equity lines of credit. Home equity loans and home equity lines of credit are secured by residences primarily located in New Jersey and New York. Home equity loans are offered with fixed rates of interest, with terms of approximately 20 years and to a maximum of $750,000. Home equity lines of credit have adjustable rates of interest, indexed to the prime rate. Securities Portfolio The company’s investments purchased might include, but are not limited to, U.S. Treasury obligations, securities issued by various Federal Agencies, State and Municipal subdivisions, mortgage-backed securities, certain certificates of deposit of insured financial institutions, overnight and short-term loans to other banks, corporate debt instruments, and mutual funds. Deposits The company’s deposit products included savings deposits, interest-bearing checking accounts, money market accounts, and certificates of deposit. Strategy The key elements of the company’s strategy include opportunities through its attractive markets and diversifying the loan portfolio. Regulation The company is subject to the Bank Holding Company Act of 1956, as amended (BHCA), and the rules and regulations of the Federal Reserve Board under the BHCA and to the provisions of the New Jersey Banking Act of 1948 (the New Jersey Banking Act) and the regulations of the Commissioner of the New Jersey Department of Banking and Insurance (the Commissioner) under the New Jersey Banking Act applicable to bank holding companies. The bank is a New Jersey-chartered savings bank, and its deposit accounts are insured up to applicable limits by the Federal Deposit Insurance Corporation (FDIC) under the Deposit Insurance Fund. The bank is subject to regulation, examination, and supervision by the Commissioner as the issuer of its charter, and, as a non-member state chartered savings bank, by the FDIC as the deposit insurer and its primary federal regulator. The bank is subject to the Consumer Financial Protection Bureau. History Investors Bancorp, Inc. was founded in 1926. The company, a Delaware corporation, was incorporated in 2013.