24 "Our Q1 2024 GAAP earnings were $45.9 million, or $1.40 per diluted share, and core earnings* were $46.5 million, or $1.42 per diluted share. Excluding certain one-time items incurred during the quarter, our adjusted core earnings* were $55.1 million, or $1.68 per diluted share. At March 31, 2024, our deposit base was well diversified, with approximately 78% of total deposits insured. We maintain a strong liquidity position, with $8.9 billion of liquidity immediately available, which covers approximately ...

WEST READING, Pa.--(BUSINESS WIRE)--Customers Bancorp, Inc. (NYSE:CUBI) announced that subordinated notes issued in 2014 will, on June 26, 2024, convert from an annual fixed rate of 6.125% to a floating rate. On June 24, 2014, Customers Bancorp, Inc. (“Customers”) and its wholly-owned subsidiary, Customers Bank, (the “Bank”) entered into subscription agreements with accredited investors under which the Bank issued $110.0 million in aggregate principal amount of fixed-to-floating rate subordinated notes due ...

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 ...

Company Participants Jay Sidhu - Chairman and CEO of Customers Bancorp, Executive Chairman of Customers Bank Phil Watkins - CFO, Customers Bank Hal Goetsch - B. Riley Securities Peter Winter - D.A. Davidson Frank Schiraldi - Piper Sandler Bill Dezellem - Tieton Capital Management David Patti, Director of Communications. Thank you, Rob, and good morning, everyone. Thank you for joining us for the Customer Bancorp's earnings call for the fourth quarter and full year of 2023. The presentation deck you will see ...

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 ...