Customers Bancorp (CUBI) shares soared 6.6% in the last trading session to close at $55.95. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.3% gain over the past four weeks. Shares of Customers Bancorp rallied for the fourth straight trading session. With the Federal Reserve keeping an eye on unemployment reports and cooling inflation numbers, market participants are projecting interest rate cuts as early as during the Septemb ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Customers Bancorp (CUBI) , which belongs to the Zacks Banks - Southeast industry, could be a great candidate to consider. This bank holding company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 5.83%. Thanks in part to thi ...

Long-term debt (1) Amounts reported in the above table include a fixed rate long-term advance from FHLB of $250.0 million with a maturity of June 2024 and a returnable option that can be repaid without penalty on certain predetermined dates at Customers Bank's option, and fixed rate long-term advances of $950.0 million with maturities ranging from March 2025 to March 2028, at March 31, 2024. (2) Includes $(4.9) million and $3.2 million of unamortized basis adjustments from interest rate swaps designated as ...

Call Start: 09:00 January 1, 0000 9:52 AM ET Customers Bancorp, Inc. (NYSE:CUBI) Q1 2024 Earnings Conference Call April 26, 2024 09:00 ET Company Participants David Patti - Director of Communications Jay Sidhu - Chairman & Chief Executive Officer of Customers Bancorp, Executive Chairman of Customers Bank Sam Sidhu - President & Chief Executive Officer, Customers Bank Phil Watkins - Chief Financial Officer, Customers Bank Conference Call Participants Casey Haire - Jefferies Stephen Moss - Raymond James Kelly ...

Customers Bancorp (CUBI) reported $181.62 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 0.1%. EPS of $1.68 for the same period compares to $1.58 a year ago.The reported revenue represents a surprise of +0.04% over the Zacks Consensus Estimate of $181.55 million. With the consensus EPS estimate being $1.62, the EPS surprise was +3.70%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall ...

Customers Bancorp (CUBI) came out with quarterly earnings of $1.68 per share, beating the Zacks Consensus Estimate of $1.62 per share. This compares to earnings of $1.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.70%. A quarter ago, it was expected that this bank holding company would post earnings of $1.76 per share when it actually produced earnings of $1.90, delivering a surprise of 7.95%.Over the last four quarters, ...

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 ...