S&P gives Investors Bancorp BBB-

S&P said it assigned a BBB- long-term issuer credit rating to Investors Bancorp, Inc. and a BBB long-term issuer credit rating to Investors Bank, its primary bank subsidiary.

The outlook is stable.

The agency said the ratings are based on good loan performance, improved diversification within the loan portfolio and strong capital ratios.

However, rapid loan growth, various geographic and loan type concentrations, and below average funding profile somewhat offset its strengths, S&P said.

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