Customers Bancorp (CUBI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Customers Bancorp (CUBI) reported revenue of $198.69 million for the quarter ended June 2024, reflecting a year-over-year increase of 9.6% [1] - The company's earnings per share (EPS) for the quarter was $1.49, down from $1.65 in the same quarter last year [1] Financial Performance - The reported revenue exceeded the Zacks Consensus Estimate of $185.31 million, resulting in a positive surprise of 7.22% [4] - EPS also surpassed expectations with a surprise of 2.76%, compared to the consensus estimate of $1.45 [4] - Customers Bancorp's stock has returned +30.4% over the past month, contrasting with a -0.3% change in the Zacks S&P 500 composite [3] Key Metrics - Efficiency Ratio was reported at 51.9%, better than the estimated 52.7% [6] - Net Interest Margin stood at 3.3%, exceeding the average estimate of 3.2% [6] - Average Interest-Earning Assets were $20.52 billion, below the average estimate of $21.01 billion [6] - Total Non-Interest Income was $31.04 million, significantly higher than the estimated $21.19 million [6] - Net Interest Income was reported at $167.65 million, above the average estimate of $164.37 million [6] - Commercial lease income reached $10.28 million, surpassing the estimated $9.62 million [6]