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Investors Bancorp, Inc Announces Date for Second Quarter Earnings Conference Call
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Investors Bancorp, Inc Announces Date for Second Quarter Earnings Conference Call
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Investors Bancorp Inc (ISBC) Q1 2021 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Investors Bancorp Inc (NASDAQ: ISBC)
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Operator
Good morning, and welcome to the Investors Bancorp s first quarter earnings call. [Operator Instructions] Please note this event is being recorded. We ll begin this morning s call with the company s standard forward-looking statement disclosure. On this call, representatives of Investors Bancorp, Inc. may make some forward-looking statements with respect to its financial position, results of operations and business. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond Investors Bancorp s control, are difficult to predict and which can cause actual results to materially differ from those expressed or forecast in these forward-looking statements.
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SHORT HILLS, N.J., April 28, 2021 /PRNewswire/ Investors Bancorp, Inc. (NASDAQ:ISBC) ( Company ), the holding company for Investors Bank ( Bank ), reported net income of $72.3 million, or $0.31 per diluted share, for the three months ended March 31, 2021 as compared to $75.1 million, or $0.32 per diluted share, for the three months ended December 31, 2020 and $39.5 million, or $0.17 per diluted share, for the three months ended March 31, 2020.
The Company also announced today that its Board of Directors declared a cash dividend of $0.14 per share to be paid on May 25, 2021 for stockholders of record as of May 10, 2021.
Kevin Cummings, Chairman and CEO, commented, Our pre-tax earnings for the first quarter were a record high as our credit quality is strong and our cost of deposits continues to decline. Our return on assets and return on equity for the first quarter were 1.11% and 11%, respectively.
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