In first quarter 2020, as part of its response to the impact of COVID-19, the U.S. federal banking regulatory agencies issued an interim final rule that provided the option to temporarily delay certain effects of CECL on regulatory capital for two years, followed by a threeyear transition period. The interim final rule allows banking organizations to delay for two years 100% of the day-one impact of adopting CECL and 25% of the cumulative change in the reported allowance for credit losses since adopting CEC ...

WEST READING, Pa.--(BUSINESS WIRE)--Customers Bancorp, Inc. (NYSE:CUBI) announced that the Board of Directors has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE: CUBIPrE) of $0.68163044 per share. The dividend is payable on March 15, 2024, to shareholders of record on February 29, 2024. The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F ...

Customers Bancorp, Inc. (NYSE:CUBI) Q4 2023 Results Conference Call January 26, 2024 9:00 AM ET Company Participants David Patti - Director of Communications Jay Sidhu - Chairman and CEO of Customers Bancorp, Executive Chairman of Customers Bank Sam Sidhu - President and CEO, Customers Bank Carla Leibold - CFO, Customers Bancorp Phil Watkins - CFO, Customers Bank Conference Call Participants Hal Goetsch - B. Riley Securities Casey Haire - Jefferies Peter Winter - D.A. Davidson Michael Perito - KBW Steve Mos ...

For the quarter ended December 2023, Customers Bancorp (CUBI) reported revenue of $191.18 million, up 34.2% over the same period last year. EPS came in at $1.90, compared to $1.19 in the year-ago quarter.The reported revenue represents a surprise of +1.76% over the Zacks Consensus Estimate of $187.87 million. With the consensus EPS estimate being $1.76, the EPS surprise was +7.95%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall ...

WEST READING, Pa.--(BUSINESS WIRE)--Customers Bancorp, Inc. (NYSE:CUBI): Fourth Quarter 2023 Highlights Q4 2023 net income available to common shareholders was $58.2 million, or $1.79 per diluted share; ROAA was 1.16% and ROCE was 15.93%. Q4 2023 core earnings* were $61.6 million, or $1.90 per diluted share; Core ROAA* was 1.22% and Core ROCE* was 16.87%. CET 1 capital ratio of 12.2%1 at December 31, 2023, compared to 11.3% at September 30, 2023, surpassing 11.0% - 11.5% target. TCE / TA ratio* o ...

Wall Street analysts expect Customers Bancorp (CUBI) to post quarterly earnings of $1.76 per share in its upcoming report, which indicates a year-over-year increase of 47.9%. Revenues are expected to be $187.87 million, up 31.9% from the year-ago quarter.The consensus EPS estimate for the quarter has been revised 3.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company ...

☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 Pennsylvania 27-2290659 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) Securities registered pursuant to Section 12(g) of the Act: None On November 3, 2023, 31,413,946 shares of Voting Common Stock were outstanding. 2 Table of Contents | --- | --- | --- | --- | |----------------------------------------------------------- ...

Commercial Lending Table of Contents On June 30, 2023, Customers sold $670 million of short-term syndicated capital call lines of credit within Specialty Lending consisting of $280.7 million of loans held for investment and $389.3 million of unfunded loan commitments. The Bank exited completely from these non-strategic, short-term syndicated capital call lines of credit, which did not provide any deposit relationships. 71 Purchases and sales of loans were as follows for the three and six months ended June 3 ...

Financial Data and Key Metrics Changes - The company reported a GAAP EPS of $1.39 and core EPS of $1.65, with core earnings of $52.2 million, reflecting a strong performance despite industry challenges [7][65] - Net interest margin improved by 19 basis points to 3.15%, contributing to a 10% increase in net interest income on a smaller loan base [4][7] - The common equity Tier 1 (CET1) ratio increased by 70 basis points to 10.3%, with a target of 11% to 11.5% by year-end [15][65] Business Line Data and Key Metrics Changes - Deposits increased by a net $227 million, with a significant $1 billion or 29% quarter-over-quarter rise in non-interest-bearing deposits [5][31] - Loan balances were tactically reduced by approximately $800 million, with a focus on exiting non-strategic credits to enhance balance sheet capacity [33][10] - The average yield on loans increased to 6.83%, while the loan-to-deposit ratio ended at 77%, which is 9 percentage points lower than regional bank peers [13][8] Market Data and Key Metrics Changes - The company maintained a robust liquidity position with over $11 billion in total liquidity and more than $9 billion in immediately available liquidity [14][62] - Non-performing assets (NPAs) decreased by 2 basis points to 13 basis points of total assets, indicating strong credit quality [8][63] - The commercial real estate exposure is only 15% of the loan portfolio, significantly lower than regional bank peers [63] Company Strategy and Development Direction - The company aims to strengthen its balance sheet by improving its deposit franchise and maintaining industry-leading liquidity levels [17][65] - A focus on risk management remains central to the company's strategy, with ongoing efforts to derisk the balance sheet and exit non-strategic relationships [6][25] - The acquisition of the FDIC portfolio is expected to enhance the deposit base and provide significant growth opportunities in the venture banking sector [9][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the uncertain macroeconomic environment, emphasizing the importance of credit quality and risk management [25][66] - The company anticipates continued growth in core deposits and aims to maintain a low-cost deposit strategy moving forward [17][84] - Management reiterated the commitment to achieving a tangible book value of at least $45 by year-end, reflecting strong capital generation [35][65] Other Important Information - Core non-interest expenses increased to $89 million, primarily due to higher insurance expenses and incentive accruals related to the new venture banking team [61][65] - The company successfully sold $550 million of consumer installment loans, validating its strategy to increase asset velocity and generate fee income [10][32] Q&A Session Summary Question: What is the expected loan portfolio mix for 2024 and beyond? - Management indicated a target mix of approximately 50% commercial and industrial (C&I), 5% to 10% commercial real estate (CRE), and the balance in multifamily and other loans [68] Question: How is the deposit pipeline characterized? - The deposit pipeline is expected to consist of 25% to 35% non-interest-bearing deposits, with the remainder being low-cost deposits [84] Question: What is the impact of the Venture Banking acquisition on competitive positioning? - The acquisition enhances the company's nationwide presence and capabilities, allowing for better deposit gathering and lending opportunities [91][106]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2023 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to . 001-35542 (Commission File number) (Exact name of registrant as specified in its charter) Customers Bancorp, Inc. 701 Reading Avenue West Reading, PA ...