Investors Bancorp Inc

NASDAQ:ISBC   3:59:54 PM EDT
15.12
+0.10 (+0.67%)
Other Pre-Announcement, Equity Financing / Related

Investors Bancorp - Extinguished $1 Billion In Wholesale Funding With An Average Rate Of 2.01%

Published: 12/29/2020 21:12 GMT
Investors Bancorp Inc (ISBC) - Investors Bancorp - Extinguished $1 Billion in Wholesale Funding With an Average Rate of 2.01%.
Investors Bancorp Inc - Incurred $24 Million of Pre-tax Costs Associated With Early Extinguishment.
Investors Bancorp Inc - Also Intends to Consolidate Ten Branch Offices in 2021.
Investors Bancorp - Expects Early Extinguishment Will Have a Positive Impact on Its Net Interest Margin, EPS Going Forward.
Investors Bancorp Inc - Expects Annual Savings of Approximately $3 Million to $4 Million in Connection Therewith Consolidation of Ten Branch Offices.
Investors Bancorp Inc - Expects to Incur Approximately $11 Million in Non-recurring Pre-tax Costs Relating to Branch Consolidations in Q4 of 2020.