Investors Savings Bank Loans $3.5 Million to Paper Mill

Investors Savings Bank (NASDAQ: ISBC) today formally announced that they have finalized a $3.5 million loan to Paper Mill Playhouse, located in Millburn, to help revitalize the theatre.

"Over the years, Investors Savings Bank has proudly engaged in community affairs and, having expanded our business services and business banking, we have looked to grow in the area of locally-targeted commercial loans," said Bob Cashill, President & CEO of Investors Savings Bank. "Our ability to move quickly and secure the loan for Paper Mill Playhouse demonstrates our commitment to business and the community and is a great example of how we are expanding our business banking products."

"I am very impressed, once again, with how Investors has responded to the needs of our community and has helped ensure the vitality of downtown Millburn," said Mayor Dan Baer.  "Investors' executive team, led by Bob Cashill and Kevin Cummings, has been passionate about ensuring that the funding would be timely and complete. Investors and Paper Mill are two homegrown institutions and, amazingly, Investors, through their growth, has still kept the community in banking."

The formal announcement of the loan arrangement between Investors and Paper Mill was announced at the theatre today.

Headquartered in Short Hills, New Jersey, Investors Savings Bank is a wholly owned subsidiary of Investors Bancorp, Inc. (NASDAQ:ISBC), a publicly traded company.  Investors has total consolidated assets of $5.5 billion, deposits of $3.6 billion and total consolidated stockholders' equity of $864.2 million as of March 31, 2007.  Investors Savings Bank operates 46 full-service branches in eight counties of New Jersey.  Member FDIC.  For more information, please visit www.isbnj.com.

Paper Mill Playhouse, a not-for-profit regional theatre, is one of the country's leading regional theatres and is supported in part by grants from the New Jersey State Council on the Arts/Dept. of State, a partner agency of the National Endowment for the Arts and the National Endowment for the Arts, in addition to contributions from many corporations, foundations, businesses and individuals.  Paper Mill Playhouse is a member of Theatre Communications Group, the National Alliance for Musical Theatre, the Council of Stock Theatres, and the New Jersey Theatre Alliance.

For more information, visit www.isbnj.com or www.papermill.org.