Financial Data and Key Metrics - The company has posted its Q4 and full-year 2024 results on the Investors webpage, including a detailed presentation deck and a PDF of the full press release [2] - The presentation includes important details that will be discussed during the webcast, encouraging investors to download and use the document for reference [3] Forward-Looking Statements - Some statements made during the webcast may be considered forward-looking, subject to risks and uncertainties that could cause actual results to differ from current expectations [3] - These forward-looking statements are only valid as of the presentation date, with no obligation to update them in the future [4] Q&A Session - No specific questions or answers were provided in the content shared, as the call was still in the introductory phase [1][2][3][4]

Let's take on tomorrow. Investor Presentation: Q4'24 and FY'24 January 2025 Forward-Looking Statements In addition to historical information, this press release 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 strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial conditio ...

Core Viewpoint - Customers Bancorp, Inc. is facing a class action securities lawsuit due to alleged securities fraud that occurred between March 1, 2024, and August 8, 2024 [1][2] Group 1: Lawsuit Details - The lawsuit claims that Customers Bancorp had inadequate anti-money laundering practices, leading to non-compliance with legal obligations and increased regulatory risk [2] - Defendants are accused of making materially false and misleading statements regarding the company's business, operations, and prospects [2] Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until January 31, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this [3] - Class members may be entitled to compensation without any out-of-pocket costs or fees [3] Group 3: Legal Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the U.S. [4]

Core Viewpoint - Customers Bancorp (CUBI) reported quarterly earnings of $1.36 per share, exceeding the Zacks Consensus Estimate of $1.24 per share, but down from $1.90 per share a year ago, indicating a 28.42% year-over-year decline [1][2] Financial Performance - The company achieved revenues of $167.43 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 8.75% and down from $191.18 million year-over-year, reflecting a 12.31% decrease [2] - Over the last four quarters, Customers Bancorp has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Performance and Outlook - Customers Bancorp shares have increased approximately 3% since the beginning of the year, compared to the S&P 500's gain of 3.5% [3] - The current consensus EPS estimate for the upcoming quarter is $1.28 on revenues of $188.67 million, and for the current fiscal year, it is $6.19 on revenues of $805.25 million [7] Industry Context - The Banks - Southeast industry, to which Customers Bancorp belongs, is currently ranked in the top 20% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - The performance of Customers Bancorp's stock may be influenced by the overall industry outlook and trends in earnings estimate revisions [5][8]

Net Income and Earnings - Q4 2024 net income available to common shareholders was $23.3 million, or $0.71 per diluted share, with ROAA of 0.48% and ROCE of 5.50%[2] - Q4 2024 core earnings were $44.2 million, or $1.36 per diluted share, with Core ROAA of 0.86% and Core ROCE of 10.44%[2] - 2024 net income available to common shareholders was $166.4 million, or $5.09 per diluted share, with ROAA of 0.85% and ROCE of 10.36%[4] - Net income available for common shareholders decreased by 45.8% to $23,266 thousand in Q4 2024 compared to $42,937 thousand in Q3 2024[9] - Core earnings increased by 0.8% to $44,168 thousand in Q4 2024 compared to $43,838 thousand in Q3 2024[9] - Adjusted core earnings increased by 6.7% to $44,168 thousand in Q4 2024 compared to $41,381 thousand in Q3 2024[9] - Net income available for common shareholders decreased by 60.0% to $23,266 thousand in Q4 2024 compared to $58,223 thousand in Q4 2023[12] - Core earnings decreased by 28.3% to $44,168 thousand in Q4 2024 compared to $61,633 thousand in Q4 2023[12] - Adjusted core earnings decreased by 28.3% to $44,168 thousand in Q4 2024 compared to $61,633 thousand in Q4 2023[12] - Net income available to common shareholders for Q4 2024 was $23.3 million, a significant drop from $58.2 million in Q4 2023[61] - Earnings per share (diluted) for Q4 2024 were $0.71, compared to $1.79 in Q4 2023[61] - Core earnings for Q4 2024 were $44.2 million, compared to $61.6 million in Q4 2023[61] - GAAP net income to common shareholders for Q4 2024 was $23.3 million, or $0.71 per share, compared to $58.2 million, or $1.79 per share, in Q4 2023[83] - Core earnings for Q4 2024 were $44.2 million, or $1.36 per share, compared to $61.6 million, or $1.90 per share, in Q4 2023[83] - Adjusted core earnings for Q4 2024 were $44.2 million, or $1.36 per share, compared to $61.6 million, or $1.90 per share, in Q4 2023[83] - Core net income for Q4 2024 was $47.8 million, compared to $65.5 million in Q4 2023[84] - Adjusted core net income for Q4 2024 was $47.8 million, compared to $65.5 million in Q4 2023[84] - Core earnings for Q4 2024 were $44.2 million, down from $61.6 million in Q4 2023[87] - Adjusted core earnings for 2024 were $189.3 million, compared to $248.2 million in 2023[87] - GAAP net income to common shareholders for Q4 2024 was $23.3 million, compared to $58.2 million in Q4 2023[88] Loan and Lease Growth - Total loans and leases held for investment grew by $671.1 million in Q4 2024, representing a 19% annualized growth rate[2] - Total loans and leases held for investment grew by $1.6 billion or 12.3% from December 31, 2023 to December 31, 2024[4] - Total loans and leases increased by 4.3% to $14,653,556 thousand in Q4 2024 compared to $14,053,116 thousand in Q3 2024[9] - Total loans and leases grew by $1.45 billion (11.0%) to $14.65 billion in 2024, driven by increases in commercial and multifamily loans[14] - Loans and leases held for investment increased by $671.1 million (4.9%) to $14.45 billion in Q4 2024, with specialized lending up $373.9 million (6.8%)[18] - Year-over-year, loans and leases held for investment grew by $1.6 billion (12.3%), with specialized lending increasing $835.7 million (16.7%)[19] - Loans held for sale decreased by $70.6 million to $204.8 million in Q4 2024, reflecting reduced demand in certain loan categories[20] - Total loans and leases held for investment increased to $14,448,762 in December 2024, up from $12,861,767 in December 2023[73] - Total loans and leases portfolio increased to $14,653,556 thousand as of December 31, 2024, up from $13,202,084 thousand in December 2023, reflecting growth in the loan portfolio[75] Deposit Growth - Total deposits increased by $777.1 million or 4.3% in Q4 2024, with non-interest bearing demand deposits up $937.5 million or 20.1%[2] - Non-interest bearing demand deposits increased $1.2 billion, or 26.8%, from December 31, 2023 to December 31, 2024[4] - Non-interest bearing demand deposits increased by 20.1% to $5,608,288 thousand in Q4 2024 compared to $4,670,809 thousand in Q3 2024[9] - Non-interest bearing demand deposits rose by $1.19 billion (26.8%) to $5.61 billion in 2024, reflecting strong customer deposit growth[14] - Total deposits increased by $777.1 million (4.3%) to $18.8 billion at December 31, 2024, compared to the prior quarter, driven by a 20.1% increase in non-interest bearing demand deposits[33] - Total deposits grew to $18,846,461 in December 2024, compared to $17,920,236 in December 2023[74] - Total deposits increased to $18,846,461 thousand in December 2024, compared to $17,920,236 thousand in December 2023[66] - Non-interest-bearing deposits increased to $5,608,288 in December 2024 from $4,422,494 in December 2023[74] Net Interest Margin and Income - Q4 2024 net interest margin (NIM) was 3.11%, up 5 basis points from Q3 2024, primarily due to lower deposit costs[2] - Net interest income totaled $167.8 million in Q4 2024, an increase of $9.3 million from Q3 2024[43] - Total cost of deposits declined by 39 basis points during Q4 2024[44] - Net interest income rose to $167,821 thousand in Q4 2024, compared to $158,545 thousand in Q3 2024 and $172,506 thousand in Q4 2023[67] - Net interest margin improved to 3.10% in Q4 2024, up from 3.05% in Q3 2024 but down from 3.30% in Q4 2023[67] - Tax-equivalent net interest margin was 3.11% in Q4 2024, up from 3.06% in Q3 2024 but down from 3.31% in Q4 2023[69] - Net interest income decreased to $654,404 in 2024 from $687,449 in 2023[70] - Net interest margin decreased to 3.14% in 2024 from 3.28% in 2023[70] Asset Quality and Credit Losses - Ratio of non-performing assets to total assets was 0.25% at December 31, 2024, compared to 0.22% at September 30, 2024[2] - Net charge-offs decreased to $14.6 million in Q4 2024, down from $17.0 million in Q3 2024 and $17.3 million in Q4 2023[21] - Provision for credit losses on loans and leases was $18.2 million in Q4 2024, up from $17.8 million in Q3 2024 due to macroeconomic forecast adjustments[22] - Provision for credit losses on available-for-sale securities was $3.0 million in Q4 2024, compared to a benefit of $0.7 million in Q3 2024[23] - Total provision for credit losses increased by $7.14 million to $20.53 million in Q4 2024, driven by higher commercial loan balances and macroeconomic factors[24] - Non-performing loans decreased to 0.30% of total loans and leases at December 31, 2024, compared to 0.34% at September 30, 2024, and increased from 0.21% at December 31, 2023[29] - Net charge-offs for Q4 2024 were $14.6 million, with an annualized rate of 0.41% of average total loans and leases[61] - Non-performing loans (NPLs) to total loans and leases stood at 0.30% in Q4 2024, up from 0.21% in Q4 2023[61] - Allowance for credit losses as a percentage of total loans decreased to 0.93% in December 2024 from 1.02% in December 2023, indicating improved asset quality[75] - Total net charge-offs from loans held for investment were $68,335 thousand for the twelve months ended December 31, 2024, slightly lower than $69,035 thousand in the same period in 2023[79] - Non-accrual loans and NPLs to total loans increased to 0.30% in December 2024 from 0.21% in December 2023, with reserves to total NPLs at 316.06%[77] Capital and Equity - CET 1 ratio was 12.0% at December 31, 2024, compared to 12.5% at September 30, 2024[2] - Common equity increased by 2.1% to $1,698,889 thousand in Q4 2024 compared to $1,663,386 thousand in Q3 2024[9] - Common equity increased by $35.5 million to $1.7 billion at December 31, 2024, driven by earnings of $23.3 million and decreased unrealized losses on investment securities[39] - The CET 1 capital ratio was 12.0% at December 31, 2024, compared to 12.5% at September 30, 2024, and 12.2% at December 31, 2023[37] - The total risk-based capital ratio was 14.8% at December 31, 2024, compared to 15.4% at September 30, 2024, and 15.3% at December 31, 2023[37] - Book value per common share increased to $54.20 at December 31, 2024, from $53.07 at September 30, 2024, and $47.73 at December 31, 2023[37] - CET 1 ratio at Customers Bancorp level was 12.0% at December 31, 2024[41] - Common equity Tier 1 capital to risk-weighted assets was 12.9% in Q4 2024, down from 13.77% in Q4 2023[61] - Tier 1 capital to average assets (leverage ratio) was 8.7% in Q4 2024, slightly down from 8.71% in Q4 2023[61] - Tangible common equity to tangible assets ratio for Q4 2024 was 7.6%, slightly lower than Q3 2024's 7.7%[94] - Tangible book value per common share increased to $54.08 in Q4 2024, up from $52.96 in Q3 2024[95] - Tangible common equity for Q4 2024 was $1.70 billion, up from $1.66 billion in Q3 2024[94] Non-Interest Income and Expenses - Non-interest income totaled a loss of $0.4 million for Q4 2024, a decrease of $19.1 million compared to Q4 2023[47] - Non-interest expenses totaled $110.4 million in Q4 2024, an increase of $16.6 million compared to Q4 2023[50] - Total one-time non-interest expense items recorded in 2024 were $6.1 million, or $0.19 per share[83] - Core non-interest expense for Q4 2024 was $108.57 million, a decrease from $110.38 million in GAAP non-interest expense after adjustments[93] - Adjusted core non-interest expense to average total assets for Q4 2024 was 1.95%, consistent with the core non-interest expense ratio[93] - Total one-time non-interest expense items recorded in 2024 amounted to $8.32 million, primarily due to deposit servicing fees and FDIC premiums[93] - Core non-interest expense to average total assets for the full year 2024 was 1.92%, compared to 1.62% in 2023[93] Future Outlook - Customers Bancorp expects deposit growth of 5% to 9% during 2025[53] - Customers Bancorp targets to increase the loan portfolio by about 7% to 10% in 2025[53] - Customers Bancorp expects net interest income to increase between 3% to 7% in 2025[53] - Customers Bancorp expects an effective tax rate to be between 22% to 25% in 2025[53] Other Financial Metrics - Total assets grew by 4.0% to $22,308,241 thousand in Q4 2024 compared to $21,456,082 thousand in Q3 2024[9] - Total assets increased by $991.98 million (4.7%) to $22.31 billion as of December 31, 2024, compared to $21.32 billion in 2023[14] - Total assets increased to $22,308,241 thousand in December 2024, up from $21,316,265 thousand in December 2023[66] - Average total assets for Q4 2024 were $22.2 billion, compared to $21.3 billion in Q4 2023[84] - Average total assets for 2024 were $21.4 billion, slightly higher than $21.5 billion in 2023[86] - Average total assets for Q4 2024 were $22.18 billion, showing growth from $21.23 billion in Q3 2024[93] - Tangible assets for Q4 2024 were $22.30 billion, slightly higher than Q3 2024's $21.45 billion[94] - Common shares outstanding in Q4 2024 were 31.35 million, a slight decrease from 31.34 million in Q3 2024[95]

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Customers Bancorp To Contact Him Directly To Discuss Their OptionsIf you purchased or acquired securities in Customers Bancorp between March 1, 2024 and August 8, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information]NEW YORK, Jan. 23, 2025 /PRNewswire/ - ...

Core Points - The Gross Law Firm has issued a notice to shareholders of Customers Bancorp, Inc. regarding a class action lawsuit [1] - The class period for the lawsuit is from March 1, 2024, to August 8, 2024 [3] - Allegations include inadequate anti-money laundering practices and non-compliance with legal obligations, leading to heightened regulatory risk [3] Summary by Sections Class Action Details - Shareholders who purchased shares during the specified class period are encouraged to contact the firm for possible lead plaintiff appointment [1][4] - The deadline for shareholders to register for the class action is January 31, 2025 [4] Allegations Against Customers Bancorp - The complaint alleges that Customers Bancorp issued materially false and misleading statements regarding its business operations and compliance [3] - Specific allegations include inadequate anti-money laundering practices and failure to disclose compliance issues, which misled investors about the company's prospects [3] Next Steps for Shareholders - Registered shareholders will be enrolled in a portfolio monitoring software to receive updates on the case [4] - Participation in the case incurs no cost or obligation for shareholders [4] About the Gross Law Firm - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud [5] - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [5]

CUBI SHAREHOLDER ALERT: Bronstein, Gewirtz and Grossman, LLC Announces that Customers Bancorp, Inc. Stockholders with Losses Have Opportunity to Lead Class Action Lawsuit! ...

CUBI IMPORTANT DEADLINE: ROSEN, RECOGNIZED INVESTOR COUNSEL, Encourages Customers Bancorp, Inc. Investors to Secure Counsel Before Important January 31 Deadline in Securities Class Action First Filed by the Firm – CUBI ...

Analysts on Wall Street project that Customers Bancorp (CUBI) will announce quarterly earnings of $1.24 per share in its forthcoming report, representing a decline of 34.7% year over year. Revenues are projected to reach $183.48 million, declining 4% from the same quarter last year.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Prior ...