下了了了了了了了了了了了 | --- | --- | --- | |------------------------------------------|-------|--------------| | | | | | "A Digital-Forward Super-Community Bank" | | | | Investor Presentation: Q3 2022 | | October 2022 | Forward-Looking Statements In addition to historical information, this presentation may contain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to C ...

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 June 30, 2022 ☐ 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. Pennsylvania 27-2290659 (State or ot ...

Customers Bancorp, Inc. (NYSE:CUBI) Q2 2022 Earnings Conference Call July 28, 2022 9:00 AM ET Company Participants David Patti - Communications Director Jay Sidhu - Executive Chairman Sam Sidhu - Vice Chairman, President and Chief Executive Officer Carla Leibold - Executive Vice President, Chief Financial Officer Andrew Bowman - Executive Vice President and Chief Credit Officer Conference Call Participants Peter Winter - Wedbush Securities Steve Moss - B. Riley Securities David Bishop - Hovde Group Matthew ...

下了了了了了了了了了了了 | --- | --- | --- | |------------------------------------------|-------|-----------| | | | | | | | | | | | | | Let's take on tomorrow. | | | | "A Digital-Forward Super-Community Bank" | | | | Investor Presentation: Q2 2022 | | July 2022 | Forward-Looking Statements In addition to historical information, this presentation may contain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking state ...

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, 2022 ☐ 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. Pennsylvania 27-2290659 (State or o ...

Customers Bancorp, Inc. (NYSE:CUBI) Q1 2022 Earnings Conference Call April 28, 2022 9:00 AM ET Corporate Participants David Patti - Communications Director Jay Sidhu - Executive Chairman Sam Sidhu - President and Chief Operating Officer Carla Leibold - Chief Financial Officer Andy Brown - Chief Credit Officer Conference Call Participants Peter Winter - Wedbush Securities David Bishop - Hovde Group Steve Moss - B. Riley Securities Matt Breese - Stephens Inc Russell Gunther - DA Davidson Frank Schiraldi - P ...

下了了了了了了了了了了了 | --- | --- | |------------------------------------------|------------| | | | | "A Digital-Forward Super-Community Bank" | | | Investor Presentation: Q1 2022 | April 2022 | Forward-Looking Statements In addition to historical information, this presentation may contain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to Customers Bancorp, Inc.'s ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________________________________ FORM 10-K ________________________________________ Securities registered pursuant to Section 12(b) of the Act: Title of Each ClassTrading Symbols Name of Each Exchange on which Registered Voting Common Stock, par value $1.00 per share CUBI New York Stock Exchange Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E, par value $1.00 per share CUBI/PE New York Stock Exchange Fixe ...

Part I [Consolidated Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Customers%20Bancorp%2C%20Inc.%20Consolidated%20Financial%20Statements) This section presents Customers Bancorp, Inc.'s unaudited consolidated financial statements, including the balance sheet, income statements, and cash flows, along with detailed accounting notes [Consolidated Balance Sheet](index=7&type=section&id=Consolidated%20Balance%20Sheet) Consolidated Balance Sheet Summary (in thousands) | Account | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $1,052,054 | $693,354 | | Investment securities, at fair value | $1,866,697 | $1,210,285 | | Total loans and leases receivable, net | $15,354,084 | $15,608,989 | | **Total Assets** | **$19,108,922** | **$18,439,248** | | **Liabilities & Equity** | | | | Total deposits | $16,971,025 | $11,309,929 | | FRB PPP liquidity facility | $0 | $4,415,016 | | Total liabilities | $17,824,623 | $17,322,162 | | Total shareholders' equity | $1,284,299 | $1,117,086 | | **Total Liabilities and Shareholders' Equity** | **$19,108,922** | **$18,439,248** | [Consolidated Statements of Income](index=8&type=section&id=Consolidated%20Statements%20of%20Income) Income Statement Highlights (in thousands, except per share data) | Metric | Q3 2021 | Q3 2020 | Nine Months 2021 | Nine Months 2020 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $219,892 | $107,439 | $491,380 | $280,742 | | Provision for Credit Losses | $13,164 | $12,955 | $13,536 | $65,688 | | Non-interest Income | $25,586 | $24,864 | $60,876 | $47,736 | | Non-interest Expense | $80,009 | $56,285 | $212,759 | $155,043 | | Net Income from Continuing Operations | $116,042 | $51,047 | $252,014 | $84,477 | | Net Income | $116,042 | $50,515 | $213,978 | $76,332 | | Net Income Available to Common Shareholders | $110,241 | $47,085 | $201,487 | $65,706 | | Diluted EPS | $3.25 | $1.48 | $6.02 | $2.07 | [Notes to Consolidated Financial Statements](index=15&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) - On January 4, 2021, the company completed the divestiture of BankMobile Technologies, Inc. (BMT), with BMT's historical financial results now reported as discontinued operations[43](index=43&type=chunk)[50](index=50&type=chunk) - The company actively participates in the SBA's Paycheck Protection Program (PPP), originating 100% SBA-guaranteed loans for which no Allowance for Credit Losses (ACL) is recognized[44](index=44&type=chunk)[45](index=45&type=chunk) - Customers Bancorp adopted the interim final rule by U.S. federal banking regulatory agencies, providing temporary relief related to CECL's effects on regulatory capital[143](index=143&type=chunk) [Management's Discussion and Analysis (MD&A)](index=48&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management provides an in-depth analysis of the company's financial condition and operational results, covering key initiatives like the CBIT™ platform and the impact of the PPP loan program - The company launched the Customers Bank Instant Token (CBIT™) on the TassatPay™ blockchain platform on October 18, 2021, for real-time B2B payments, receiving **$1.5 billion** in non-interest bearing deposits from new customers by September 30, 2021[216](index=216&type=chunk)[392](index=392&type=chunk) - Three new commercial verticals were added in 2021 within the Specialty Banking business: fund finance, technology and venture capital banking, and a financial institutions group[217](index=217&type=chunk) - The company has funded approximately **$10 billion** in PPP loans, either directly or through fintech partnerships, as of September 30, 2021[223](index=223&type=chunk) [Results of Operations](index=53&type=section&id=Results%20of%20Operations) Q3 2021 vs Q3 2020 Performance (in thousands) | Metric | Q3 2021 | Q3 2020 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $219,892 | $107,439 | $112,453 | 104.7% | | Provision for Credit Losses | $13,164 | $12,955 | $209 | 1.6% | | Net Income Available to Common Shareholders | $110,241 | $47,085 | $63,156 | 134.1% | - Net interest income for Q3 2021 increased by **$112.5 million** year-over-year, driven by a **$1.9 billion** increase in average interest-earning assets and a **209 basis point** expansion in Net Interest Margin (NIM) to **4.59%**, largely due to accelerated recognition of PPP loan fees upon forgiveness[245](index=245&type=chunk)[269](index=269&type=chunk)[270](index=270&type=chunk) - Non-interest expense increased by **$23.7 million** in Q3 2021 compared to Q3 2020, primarily due to an **$8.3 million** increase in technology and operations costs and a **$6.2 million** one-time fee to amend a high-cost deposit contract[251](index=251&type=chunk)[309](index=309&type=chunk)[320](index=320&type=chunk) [Financial Condition](index=67&type=section&id=Financial%20Condition) - Total assets increased by **$669.7 million** to **$19.1 billion** at September 30, 2021, driven by increases in investment securities, PPP loans, and cash, partially offset by a **$1.1 billion** decrease in mortgage warehouse loans[339](index=339&type=chunk) - Total deposits grew significantly by **$5.7 billion** (**50.1%**) to **$17.0 billion**, primarily from a **$5.7 billion** increase in non-time deposits, driven by initiatives to lower funding costs and the influx of deposits related to the new CBIT™ platform[340](index=340&type=chunk)[392](index=392&type=chunk) - Total borrowings decreased substantially, with the **$4.4 billion** FRB PPP Liquidity Facility and **$850 million** in FHLB advances being fully repaid, funded by strong deposit growth[340](index=340&type=chunk)[397](index=397&type=chunk) - Shareholders' equity increased by **$167.2 million** to **$1.3 billion**, driven by **$214.0 million** in net income, partially offset by the redemption of **$82.5 million** in Series C and D Preferred Stock[401](index=401&type=chunk)[402](index=402&type=chunk)[404](index=404&type=chunk) [Credit Risk and Asset Quality](index=73&type=section&id=Credit%20Risk%20and%20Asset%20Quality) Asset Quality Metrics | Metric | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Non-Performing Loans (NPLs) | $52.0 million | $70.5 million | | NPLs as % of Total Loans & Leases | 0.34% | 0.45% | | ACL for Loans & Leases | $131.5 million | $144.2 million | | ACL as % of NPLs | 252.68% | 204.48% | | ACL as % of Loans & Leases (ex-PPP, Non-GAAP) | 1.65% | 1.90% | - The Allowance for Credit Losses (ACL) decreased, primarily due to improved macroeconomic forecasts affecting the commercial loan portfolio, partially offset by an increase in the consumer installment portfolio due to loan growth[373](index=373&type=chunk) - COVID-19 related loan deferments decreased significantly to **$80.1 million** as of September 30, 2021, down from **$218.5 million** at December 31, 2020[224](index=224&type=chunk)[385](index=385&type=chunk) [Liquidity and Capital Resources](index=80&type=section&id=Liquidity%20and%20Capital%20Resources) - The company maintains a strong liquidity position, with principal sources being deposits, borrowings, and loan repayments, and as of September 30, 2021, borrowing capacity with the FHLB was **$2.8 billion** and with the FRB was **$186.8 million**[408](index=408&type=chunk)[409](index=409&type=chunk) Regulatory Capital Ratios (Customers Bancorp, Inc.) | Ratio | Sep 30, 2021 | Dec 31, 2020 | Well-Capitalized Minimum | | :--- | :--- | :--- | :--- | | Common Equity Tier 1 | 10.412% | 8.079% | N/A | | Tier 1 Capital | 11.607% | 9.919% | N/A | | Total Capital | 13.629% | 11.855% | N/A | | Tier 1 Leverage | 7.876% | 8.597% | N/A | - Both the Bank and the Bancorp met all capital adequacy requirements to which they were subject as of September 30, 2021[426](index=426&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=84&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company primarily manages interest rate risk by analyzing income scenarios and the Economic Value of Equity (EVE), with the balance sheet positioned to benefit from rising interest rates as of September 30, 2021 Interest Rate Sensitivity Analysis (% Change from Base) | Rate Shock | Net Interest Income (12-mo forecast) | Economic Value of Equity (EVE) | | :--- | :--- | :--- | | **As of Sep 30, 2021** | | | | Up 300 bps | +8.3% | +68.2% | | Up 200 bps | +5.2% | +53.5% | | Up 100 bps | +0.8% | +27.3% | | **As of Dec 31, 2020** | | | | Up 300 bps | -2.7% | -18.9% | | Up 200 bps | -1.6% | -12.2% | | Up 100 bps | -0.8% | -6.1% | [Controls and Procedures](index=85&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of September 30, 2021, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of September 30, 2021[447](index=447&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[448](index=448&type=chunk) Part II [Legal Proceedings](index=87&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in legal actions arising in the ordinary course of business, including a settled matter with the U.S. Department of Education and an ongoing adversary complaint related to a PPP loan repayment - A matter with the U.S. Department of Education regarding fee-free ATM access was settled, reducing the assessed liability from **$6.5 million** to **$3.0 million**[207](index=207&type=chunk)[208](index=208&type=chunk) - The company is defending against an adversary complaint from the Chapter 7 Trustee for Specialty's Café Bakery, Inc., who seeks to recover an **$8.1 million** PPP loan repayment made by the debtor prior to its bankruptcy filing[209](index=209&type=chunk) [Risk Factors](index=87&type=section&id=Item%201A.%20Risk%20Factors) New risk factors have been introduced related to the recently launched CBIT™ blockchain-based real-time payments platform, reflecting uncertainties in the digital currency industry - A new risk factor has been introduced related to the launch of the CBIT™ real-time B2B payments platform, whose success is subject to uncertainties in the digital currency industry, including technology adoption, competition, regulation, and price volatility[453](index=453&type=chunk)[455](index=455&type=chunk) - The new customers for the CBIT™ platform are primarily concentrated in the digital currency industry, which could lead to the loss of non-interest bearing demand deposits if the initiative is adversely affected[454](index=454&type=chunk)[455](index=455&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=87&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The Board authorized a share repurchase program for up to 10% of outstanding common stock, with no shares repurchased under this program during the quarter ended September 30, 2021 - A new share repurchase program was authorized on August 25, 2021, allowing the company to buy back up to **3,235,326 shares** of common stock[456](index=456&type=chunk) - No shares were purchased under the new program during the third quarter of 2021; however, between October 1 and October 15, 2021, the company purchased **167,233 shares** for **$7.2 million**[457](index=457&type=chunk)

Financial Data and Key Metrics Changes - The company reported a record core EPS of $3.36, representing a net income of $113.9 million, up 178% year-over-year [12] - Net interest income increased by approximately 100% year-over-year, reaching $108 million for Q3 2021 [9][36] - Tangible book value per share increased by 35% year-over-year, reaching over $35 [39] Business Line Data and Key Metrics Changes - Total loans outstanding, excluding PPP and mortgage warehouse, grew by 10% year-to-date annualized, with C&I loans up 19% year-over-year and consumer installment loans up 32% year-over-year [9][32] - The digital direct personal loan portfolio crossed $1 billion in originations, with a total portfolio of $1.3 billion, 70% of which was sourced directly [19] - The SBA team reported traditional 7A loan originations in Q3 doubled compared to the first half of 2021 [17] Market Data and Key Metrics Changes - Total deposits grew by $6.1 billion, a 57% increase year-over-year, with $3.1 billion of that growth occurring in Q3 [9][34] - Non-interest bearing demand deposits accounted for the majority of deposit growth, increasing by 115% year-over-year [34] - The average cost of deposits decreased by 25 basis points year-over-year, with spot costs dropping to 32 basis points [35] Company Strategy and Development Direction - The company aims to expand its footprint to become a nationwide bank over the next few years, leveraging technology for community and specialty banking [11] - New business lines include fund finance, technology and venture capital banking, and digital asset banking, which are expected to drive future growth [10][15] - The company is focused on maintaining strong credit quality, with NPAs at just 27 basis points and a coverage ratio of 1.65% [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong performance and a robust loan pipeline, expecting continued growth into 2022 [12][13] - The company highlighted the importance of its partnership with the SBA for PPP loan forgiveness, which has accelerated forgiveness rates significantly [25] - Management noted that they are well-positioned for capital allocation and revenue growth, with a focus on maintaining a fortress balance sheet [74] Other Important Information - The company completed the redemption of $82.5 million in preferred stock, which is expected to enhance annual DPS run rate by approximately $13 million [45] - The company is actively pursuing share buybacks but remains opportunistic due to market volatility [65][74] - The company has engaged a global digital consultancy to rebrand and relaunch its online presence, expected to be completed by the end of the year [24] Q&A Session Summary Question: Can you provide details on the CBIT deposits and customer composition? - Management indicated that the soft launch included around 2,000 customers, with ongoing funding and transaction testing [47] Question: What are the expectations for customer growth during the soft launch? - Management anticipates remaining in soft launch mode through the quarter, with onboarding of new customers likely in the first quarter [49] Question: What is the outlook for digital asset lending? - Management is optimistic about capturing a share of payments transactions and is exploring lending opportunities in the digital asset space [51] Question: Can you elaborate on the gain on sale strategy for SBA loans? - Management aims to maintain a recurring revenue stream from gain on sale, currently originating at a pace of about $10 million a month [54] Question: What is the rationale behind the recent increase in reserves? - The increase in reserves was due to changes in the consumer installment portfolio mix, with guidance remaining within $10 million to $15 million per quarter [68]