Higher expenses soften gains at Investors Bancorp

Investors Bancorp in Short Hills, N.J., posted solid gains in loans and revenue, but the $23.9 billion-asset company’s operating costs increased significantly.

Investors reported first-quarter net income of $46 million, up a modest 3% from the same period in 2016. That amounted to 16 cents per share, in line with analysts’ consensus estimate as compiled by FactSet Research Systems.