INVESTORS BANCORP, INC. (NASDAQ:FMBI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Replacement Plan. Investors Bank (the Bank), the wholly-owned
subsidiary of Investors Bancorp, Inc. (the Company), has adopted
an amendment to the Amended and Restated Executive Supplemental
Retirement Wage Replacement Plan (SERP II) to freeze SERP II
future benefit accruals effective as of the close of business of
December 31, 2016 and, for certain participants, structure the
benefits payable attributable solely to the participants 2016
year of service to vest over a two-year period such that the
participants would have a right to 50% of their accrued benefits
attributable to their 2016 years of service as of December 31,
2016, which will become 100% vested provided the participants
remained continuously employed through and including December 31,
2017.
to the Companys Annual Report on Form 10-K for the year ended
December 31, 2016.
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Item 8.01
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Other Events.
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Dugan, a member of the Board of Directors of the Company and the
Bank, passed away on December 18, 2016. Mr. Dugan had been a
Director since 2013 and served on the Companys Risk Oversight,
Audit, and Compensation and Benefits Committees. Mr. Dugan was
the President of St. Francis College, Brooklyn, New York, and had
worked in commercial banking for 40 years before becoming
President of St. Francis College in 2008.
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(a)
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Financial Statements of Businesses Acquired. Not
applicable. |
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(b)
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Pro Forma Financial Information. Not applicable.
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(c)
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Shell Company Transactions. Not applicable.
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(d)
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Exhibits. None.
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About INVESTORS BANCORP, INC. (NASDAQ:FMBI)
First Midwest Bancorp, Inc. is a bank holding company. The Company’s principal subsidiary, First Midwest Bank (the Bank), is an Illinois state-chartered bank and provides a range of banking, treasury and wealth management products and services, to commercial and industrial, commercial real estate, municipal and consumer customers. The Bank operates primarily throughout the Chicago metropolitan area, as well as northwest Indiana, central and western Illinois, and eastern Iowa through approximately 110 banking locations. The Bank offers capital market products to commercial customers as risk management solutions, which include derivatives and interest rate risk products. The Bank provides an array of financing products to developers, investors and other real estate professionals, which include funding for the construction, purchase, refinance, or improvement of commercial real estate properties. The Company’s loan portfolio consists of both corporate and consumer loans. INVESTORS BANCORP, INC. (NASDAQ:FMBI) Recent Trading Information
INVESTORS BANCORP, INC. (NASDAQ:FMBI) closed its last trading session up +0.11 at 25.29 with 175,146 shares trading hands.
