Investors Bancorp, Inc. (NASDAQ:ISBC)
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A holding company for Investors Savings Bank, which attracts deposits from the public and originates mortgage loans secured by one- to four-family residential real estate and consumer loans.
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Most of their increase in earnings came from a increase in net interest margins. Unemployment has stayed high despite the stimulus efforts. Because of the economic conditions and weakness in the real estate market, most of the increases in loans have been for residential and consumer segment. They are trying to acquire Millenium bcp Bank and this should help improve their earnings. This will bring in $575 million in deposits and 17 new branch offices.