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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 27, 2021
INVESTORS BANCORP, INC.
(Exact name of registrant as specified in its charter)
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| Delaware | | 001-36441 | | 46-4702118 |
| (State or other jurisdiction of incorporation) | | (Commission File No.) | | (IRS Employer |
| | | | | Identification No.) |
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| 101 JFK Parkway, | Short Hills, | New Jersey | | 07078 |
| (Address of principal executive offices) | | (Zip Code) |
Registrant's telephone number, including area code: (973) 924-5100
Not Applicable
_________________________________
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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| Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
| Common | | ISBC | | The NASDAQ Stock Market |
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| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2). |
| Emerging growth company | ☐ |
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| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ |
As of the close of business on August 27, 2021, Investors Bank, the wholly-owned subsidiary of Investors Bancorp, Inc. (the “Company”), completed the acquisition of the eight New Jersey and eastern Pennsylvania branches of Berkshire Bank, the wholly-owned subsidiary of Berkshire Hills Bancorp, Inc.
In connection with the transaction, the Company has extinguished $600 million of FHLB borrowings with an average rate of 2.13% and incurred approximately $10 million of pre-tax costs as a result.
On August 30, 2021, the Company disseminated a press release announcing the completion of the acquisition. A copy of the press release issued by the Company is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference in this Item 8.01.
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| Item 9.01 | Financial Statements and Exhibits. |
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| (d) | Exhibits. |
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| Exhibit No. | Description |
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| 104 | Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
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| | INVESTORS BANCORP, INC. |
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| DATE: August 30, 2021 | By: | /s/ Brian Doran |
| | | Brian Doran |
| | | Executive Vice President and
General Counsel |
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