Investors Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported total interest and dividend income of $230,317,000 against $208,079,000 a year ago. Net interest income was $174,690,000 against $168,710,000 a year ago. Income before income tax expense was $68,935,000 against $83,454,000 a year ago. Net loss was $4,754,000 or $0.02 per basic and diluted share against net income of $52,465,000 or $0.18 per basic and diluted share a year ago. Return on average assets - negative was 0.08% against positive of 0.92% a year ago. Return on average assets, adjusted was 0.77% against 0.92% a year ago. Return on average equity - negative was 0.60% against positive of 6.73% a year ago. Return on average equity, adjusted was 6.08% against 6.73% a year ago. Return on average tangible equity - negative was 0.62% against positive of 6.96% a year ago. Return on average tangible equity, adjusted was 6.28% against 6.96% a year ago. Adjusted net income was $48,214,000 or $0.17 per diluted share against $52,465,000 or $0.18 per diluted share a year ago.

For the year, the company reported total interest and dividend income of $881,683,000 against $793,521,000 a year ago. Net interest income was $679,776,000 against $640,185,000 a year ago. Income before income tax expense was $280,589,000 against $299,072,000 a year ago. Net loss was $126,744,000 or $0.43 per diluted share against net income of $192,125,000 or $0.64 per diluted share a year ago. Return on average assets was 0.52% against 0.88% a year ago. Return on average assets, adjusted was 0.74% against 0.88% a year ago. Return on average equity was 4.00% against 6.06% a year ago. Return on average equity, adjusted was 5.67% against 6.06% a year ago. Return on average tangible equity was 4.13% against 6.26% a year ago. Return on average tangible equity, adjusted was 5.86% against 6.26% a year ago. Book value per share as at December 31, 2017 was $10.64 against $10.53 a year ago. Tangible book value per share as at December 31, 2017 was $10.31 against $10.18 a year ago. Adjusted net income was $179,610,000 or $0.62 per diluted share against $192,125,000 or $0.64 per diluted share a year ago.

For the quarter, the company's net charge-offs were $3.6 million compared to net recoveries of $73,000 a year ago.