Investors Bank (merged into Citizens Bank)
Investors Bank reported total assets of $28.0 bn at Q1 2022, its last Call Report before it merged into Citizens Bank. The CET1 capital ratio at Investors Bank was 11.32%, and the uninsured share of Investors Bank was 49.80%. Source: FDIC Call Reports.
Key takeaways
- Since , Investors Bank has taken over one institution; the latest was Gold Coast Bank on (FDIC Call Reports).
What sets Investors Bank apart
How large is Investors Bank?
The balance sheet of Investors Bank at : assets $28.0 bn, deposits $20.6 bn, net loans $22.6 bn (loans equal to 109.47% of deposits). Securities make up 14.0% of total assets at Investors Bank. Since , when Investors Bank held $21.2 bn, its assets grew 31.9%. In the year to , deposits at Investors Bank rose 7.0% while its total assets rose 8.5%. At , Investors Bank employed 1,653 full-time equivalent staff across 144 offices, about $16.9 mn of assets per employee and $143.1 mn of deposits per office.
How much funding at Investors Bank is uninsured?
At Investors Bank, uninsured deposits (above the FDIC limit) made up 49.80% of domestic deposits at (+0.71 pp on a year earlier). In dollars, Investors Bank estimated $10.3 bn of uninsured deposits.
Key facts, Q1 2022
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $20.6 bn | $19.3 bn (Q1 2021) | |
| Net loans and leases | $22.6 bn | $20.6 bn (Q1 2021) | |
| Loan-to-deposit ratio | 109.47% | 106.83% (Q1 2021) | |
| Tier 1 leverage ratio | 9.09% | 9.40% (Q1 2021) | |
| Total risk-based capital ratio | 12.43% | 13.26% (Q1 2021) | |
| Net interest margin | 3.03% | 2.95% (Q1 2021) | |
| Return on assets (ROA) | -1.12% | 1.11% (Q1 2021) | |
| Efficiency ratio | 122.72% | 51.73% (Q1 2021) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $53.6 mn | Turned from a gain into a loss | |
| Unrealized gain/loss on available-for-sale securities | Loss of $62.9 mn | Turned from a gain into a loss | |
| Noncurrent loans to total loans | 0.49% | 0.41% (Q1 2021) | |
| Net charge-offs to average loans | -0.02% | -0.03% (Q1 2021) |
US rank of Investors Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Investors Bank: assets, deposits and loans
- Total assets $28.0bn
- Deposits $20.6bn
- Net loans $22.6bn
Capital and securities
The CET1 ratio of Investors Bank stood at 11.32% in , -0.69 pp year on year. Low and high at Investors Bank since : 11.03% () to 15.78% (). Equity capital of Investors Bank at : $2.7 bn, or 9.5% of total assets. Investors Bank also reported a total capital ratio of 12.43% for , and a tier 1 leverage ratio of 9.09%.
On held-to-maturity securities, Investors Bank carried an unrealized loss of $53.6 mn at , equal to 2.0% of equity capital. The loss turned from a gain into a loss over the year. The available-for-sale portfolio of Investors Bank showed an unrealized loss of $62.9 mn at ; the loss turned from a gain into a loss over the year.
Investors Bank: capital ratios
- Total capital 12%
- CET1 11%
- Tier 1 leverage 9.1%
Investors Bank: unrealized securities gains and losses
- Available for sale -$63mn
- Held to maturity -$54mn
Profitability and loan quality
For the year to , Investors Bank earned a return on equity of -11.84%; return on assets: -1.12%. Net interest margin at Investors Bank: 3.03%, +0.08 pp in a year. Investors Bank net income: -$77.8 mn, down 207.9% year on year. The efficiency ratio of Investors Bank was 122.72%: about 123 cents cost per revenue dollar, against 52 cents at the median peer.
At , noncurrent loans were 0.49% of total loans at Investors Bank; net charge-offs: -0.02% of average loans. Gross loans and leases at Investors Bank: $22.8 bn at , against $20.9 bn at .
Investors Bank: profitability
- Return on equity -12%
- Net interest margin 3.0%
- Return on assets -1.1%
Peer group of Investors Bank
The peer group of Investors Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 2 share the charter type of Investors Bank (state nonmember bank) and 0 have head offices in New Jersey. Against them, Investors Bank shows CET1 ratio 11.32% against a peer median of 13.19%, return on equity -11.84% against a peer median of 12.70% and uninsured deposit share 49.80% against a peer median of 38.62%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| United Bank | State member bank | VA | $29.3 bn | 13.26% | 7.05% | 42.82% | |
| Sallie Mae Bank | State nonmember bank | UT | $28.9 bn | 12.91% | 24.28% | 4.12% | |
| FirstBank | State member bank | CO | $28.9 bn | 13.20% | 20.99% | 34.43% | |
| Investors Bank | State nonmember bank | NJ | $28.0 bn | 11.32% | -11.84% | 49.80% | |
| First National Bank of Omaha | National bank | NE | $27.2 bn | 13.06% | 14.26% | 45.98% | |
| Arvest Bank | State member bank | AR | $26.6 bn | 13.38% | 6.31% | 26.56% | |
| Bank OZK | State nonmember bank | AR | $26.6 bn | 13.18% | 11.13% | 45.76% | |
. FDIC Call Reports.
Last eight quarters
Two years at Investors Bank, to : assets $27.2 bn to $28.0 bn, deposits $19.7 bn to $20.6 bn, equity $2.4 bn to $2.7 bn. Staff 1,808 to 1,653; offices 150 to 144.
| Metric | Q2 2020 | Q3 2020 | Q4 2020 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $27.2 bn | $26.6 bn | $26.0 bn | $25.8 bn | $26.8 bn | $27.3 bn | $27.8 bn | $28.0 bn |
| Total deposits | $19.7 bn | $19.4 bn | $19.8 bn | $19.3 bn | $19.8 bn | $20.8 bn | $21.2 bn | $20.6 bn |
| Bank equity capital | $2.4 bn | $2.4 bn | $2.4 bn | $2.5 bn | $2.5 bn | $2.5 bn | $2.6 bn | $2.7 bn |
| CET1 ratio | 11.77% | 11.97% | 11.72% | 12.01% | 11.67% | 11.32% | 11.31% | 11.32% |
| Return on equity (ROE) | 7.12% | 8.37% | 9.35% | 11.72% | 12.29% | 11.80% | 12.45% | -11.84% |
| Uninsured share of domestic deposits | 43.44% | 45.41% | 48.01% | 49.10% | 49.56% | 50.07% | 50.85% | 49.80% |
| Full-time equivalent employees | 1,808 | 1,818 | 1,806 | 1,769 | 1,688 | 1,707 | 1,643 | 1,653 |
| Number of offices | 150 | 151 | 152 | 152 | 142 | 145 | 145 | 144 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Investors Bank, oldest first; figures before and after each event are not like for like.
- . Absorbed Gold Coast Bank (FDIC certificate 58654).
- . Merged into Citizens Bank, National Association (FDIC certificate 57957).
Questions and identifiers
What were the total assets of Investors Bank?
Investors Bank reported $28.0 bn at in its Call Report.
Is Investors Bank the same as its holding company?
No. This page covers Investors Bank, FDIC certificate 28892; INVESTORS BCORP INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Investors Bank profitable?
Investors Bank reported net income of -$77.8 mn for the year to ; annualized return on equity: -11.84%. So no: Investors Bank made a loss over these months.
When is data for Investors Bank next updated?
Investors Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Investors Bank?
In the FDIC BankFind Suite record for certificate 28892, and in the Call Reports of Investors Bank (RSSD ID 35570) at the FFIEC Central Data Repository.