Investors Savings Bank Profits Rise In 2Q

investors savings lkwd with ceoProfit at Investors Bancorp Inc., the Short Hills-based parent company of Investors Savings Bank, rose more than 170 percent in the second quarter, the bank announced Wednesday. Net income was $15.3 million, or 14 cents per share, for the second quarter, compared to $5.5 million, or 5 cents per share, for the same period a year earlier.

Deposits increased to $6.06 billion as of June 30, up $215.7 million, or 3.7 percent, from $5.84 billion as of Dec. 31.

During the second quarter, the company continued its plan to increase its loan portfolio with high-quality commercial real estate and residential mortgage loans, said Kevin Cummings, president and chief executive officer, in a statement.

The bank has 17 branches in Monmouth and Ocean counties. APP

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