Investors Bancorp Q3 net income increases

Investors Bancorp, Inc. has reported a net income of $24.49 million, or $0.23 per diluted share, for the third quarter ended September 30, 2012, compared to $19.92 million, or $0.19 per diluted share, for the same quarter ended September 30, 2011.

Net interest income for the third quarter ended September 30, 2012 was $91.94 million, compared to $84.17 million for the same quarter ended September 30, 2011.

Net income for the nine months ended September 30, 2012 was $67.40 million, or $0.62 per diluted share, compared to $57.80 million, or $0.53 per diluted share, for the same period ended September 30, 2011.

Net interest income for the nine months ended September 30, 2012 was $271.23 million, compared to $244.33 million for the same period ended September 30, 2011.

Kevin Cummings, President and CEO, said: "This quarter represents a milestone for our Company as we declared our first quarterly cash dividend. In addition to the dividend we posted strong earnings, good loan growth and reduced our nonperforming loans. Our staff has worked hard to produce these results and I am very proud of their efforts."