Customers Bancorp, Inc.

Listed Company

CUBICIK 0001488813NYSELarge AcceleratedState Commercial BanksPennsylvaniaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$224.09M

Total Assets

$24.90B

Equity

$2.12B

Shares Out

34.21M

Op. Cash Flow

$494.76M

Business

Customers Bancorp, Inc. is a bank holding company that conducts banking activities through its wholly owned subsidiary, Customers Bank. It provides traditional and non-traditional banking products and services including commercial and consumer loans, deposit accounts, mortgage finance, commercial equipment financing, payments and treasury services, digital banking, Banking-as-a-Service and fintech partnerships. Customers operates a single reportable segment organized around diversified lending verticals—commercial and industrial, commercial real estate and multifamily, SBA, mortgage finance, fund finance, venture/technology, healthcare and equipment finance—and a private banking model. The Bank serves regional in‑market communities across the Northeast and Mid‑Atlantic, select metropolitan markets and nationwide customers via digital channels, limited production offices and fintech distribution partnerships.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans and leases	1,025	901	997	744	734
Investment securities	140	180	201	119	40
Interest earning deposits	177	191	126	11	2
Loans held for sale	10	46	36	1	3
Other	8	9	8	10	2
Interest income	1,360	1,328	1,367	885	781
Deposits	539	603	576	226	63
FHLB advances	52	52	80	11	6
FRB advances	0	0	6	0	9
Subordinated debt	13	12	11	11	11
Other borrowings	5	6	6	13	7
Total interest expense	609	673	680	262	—
Net interest income	750	654	687	624	685
Provision for credit losses	98	73	75	60	27
Net interest income after provision for credit losses	653	581	613	564	658
Commercial lease income	47	41	36	28	21
Loan fees	35	27	20	12	8
Bank-owned life insurance	11	9	12	16	8
Mortgage finance transactional fees	5	4	4	7	13
Net gain (loss) on sale of loans and leases	−60,000	−16	−1	3	11
Loss on sale of capital call lines of credit	0	0	−5	0	0
Net gain (loss) on sale of investment securities	−2	−27	−574,000	−23	31
Impairment loss on debt securities	−51	0	0	−710,000	3
Unrealized gain on equity method investments	0	11	0	0	—
Other	22	10	5	6	13
Total non-interest income	68	60	71	32	78
Salaries and employee benefits	189	176	133	112	108
Technology, communication and bank operations	43	65	66	85	84
Commercial lease depreciation	38	33	30	23	18
Professional services	50	35	35	27	27
Loan servicing	17	16	17	15	11
Occupancy	16	12	10	14	12
FDIC assessments, non-income taxes, and regulatory fees	41	42	35	9	10
Advertising and promotion	2	4	3	3	2
Legal settlement expense	0	0	4	0	0
Other	35	35	19	17	17
Total non-interest expense	432	417	353	305	294
Income before income tax expense	288	224	331	291	441
Income tax expense	64	43	81	63	87
Net income	224	181	250	228	315
Preferred stock dividends	10	15	15	10	12
Loss on redemption of preferred stock	5	0	0	0	3
Net income available to common shareholders	209	166	235	218	300
Net income available to common shareholders	209	166	235	218	300
Basic earnings per common share (usd per share)	6.46	5.28	7.49	6.69	9.29
Diluted earnings per common share (usd per share)	6.26	5.09	7.32	6.51	8.91

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	62	57	45	58	35
Interest earning deposits	4,349	3,729	3,801	398	483
Cash and cash equivalents	4,411	3,786	3,846	456	518
Investment securities, at fair value (includes allowance for credit losses of $28,805 and $7,604, respectively)	1,938	2,020	2,406	2,988	3,817
Investment securities held to maturity	729	992	1,103	840	0
Loans held for sale (includes $2,745 and $163,891, respectively, at fair value)	26	205	340	328	16
Loans and leases receivable	15,041	13,128	11,964	13,145	9,018
Loans receivable, mortgage finance, at fair value	1,613	1,321	898	—	—
Loans receivable, installment, at fair value	102	0	—	—	—
Allowance for credit losses on loans and leases	−156	−137	−135	−131	−138
Total loans and leases receivable, net of allowance for credit losses on loans and leases	16,601	14,312	12,726	15,335	14,415
FHLB, Federal Reserve Bank, and other restricted stock	110	96	110	74	65
Accrued interest receivable	104	108	115	123	92
Bank premises and equipment, net	17	7	7	9	9
Bank-owned life insurance	306	298	292	338	334
Other real estate owned	12	0	—	—	—
Goodwill and other intangibles	4	4	4	4	4
Other assets	638	481	367	400	306
Total assets	24,896	22,308	21,316	20,896	19,575
Demand, non-interest bearing	6,304	5,608	4,422	1,885	4,460
Interest bearing	14,475	13,238	13,498	16,272	12,318
Total deposits	20,779	18,846	17,920	18,157	16,778
FHLB advances	1,325	1,128	1,203	800	700
Other borrowings	99	99	124	124	223
Subordinated debt	281	183	182	182	182
Accrued interest payable and other liabilities	296	215	248	231	251
Total liabilities	22,780	20,472	19,678	19,493	18,209
Commitments and contingencies (NOTE 21)	—	—	—	—	—
Preferred stock, par value $1.00 per share; liquidation preference $25.00 per share; 100,000,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and 5,700,000 shares issued and outstanding as of December 31, 2024	0	138	138	138	138
Common stock, par value $1.00 per share; 200,000,000 shares authorized; 36,188,920 and 35,758,246 shares issued as of December 31, 2025 and 2024; 34,191,223 and 31,346,507 shares outstanding as of December 31, 2025 and 2024	36	36	35	35	35
Additional paid in capital	667	575	565	552	542
Retained earnings	1,535	1,326	1,160	924	706
Accumulated other comprehensive income (loss), net	−54	−97	−137	−163	−5
Treasury stock, at cost (1,997,697 and 4,411,739 shares as of December 31, 2025 and 2024)	−69	−142	−122	−83	—
Total shareholders equity	2,116	1,837	1,638	1,403	1,366
Total liabilities and shareholders equity	24,896	22,308	21,316	20,896	19,575

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	224	181	250	228	—
Depreciation and amortization	42	34	32	27	22
Share-based compensation expense	18	14	13	14	14
Deferred taxes	−11	−1	22	7	18
Net amortization (accretion) of investment securities premiums and discounts	−4	−4	−12	1	2
Unrealized (gain) loss on investment securities	−381,000	94,000	−62,000	710,000	−3
Impairment loss on equity securities	2	0	0	—	—
Impairment loss on fixed assets and leases	0	0	124,000	—	—
Unrealized (gain) loss on derivatives	−3	−2	0	−2	−3
Settlement of terminated fair value hedge derivatives	0	0	5	0	0
Fair value adjustment on loans held for sale	431,000	754,000	0	0	−1
Fair value adjustment on loans held for investment	−2	0	0	—	—
Net (gain) loss on sale of loans and leases	60,000	16	867,000	−4	−13
Origination and purchases of loans held for sale	−781	−1,361	−807	−366	−74
Proceeds from the sales and repayments of loans held for sale	856	1,348	600	60	65
Amortization (accretion) of loan net deferred fees, discounts and premiums	−42	−27	−91	−54	−223
(Increase) decrease in accrued interest receivable and other assets	−26	−100	24	−4	47
Increase (decrease) in accrued interest payable and other liabilities	81	−33	19	−21	103
Net Cash Provided by (Used in) Operating Activities	495	145	125	−21	—
Proceeds from maturities, calls and principal repayments of investment securities available for sale	406	629	323	464	317
Proceeds from maturities, calls and principal repayments of investment securities held to maturity	296	291	252	60	0
Proceeds from sales of investment securities available for sale	594	625	297	984	690
Purchases of investment securities available for sale	−941	−846	−1	−1,357	−3,626
Purchases of investment securities held to maturity	−28	−15	−73	0	0
Purchases of equity method investments	0	−5	0	0	—
Origination of mortgage finance loans	−26,939	−22,148	−20,057	−28,966	−55,035
Proceeds from repayments of mortgage finance loans	26,671	21,721	20,465	29,896	56,366
Net (increase) decrease in loans and leases, excluding mortgage finance loans	−1,583	−1,068	2,268	−1,933	1,653
Proceeds from sales of loans and leases	5	35	410	137	398
Purchases of loans	−385	−198	−709	−484	−1,907
Purchases of bank-owned life insurance	−1	0	0	0	−46
Proceeds from bank-owned life insurance	6	5	57	12	2
Net (purchases of) proceeds from sales of FHLB, Federal Reserve Bank, and other restricted stock	—	13	—	—	7
Net (purchases of) proceeds from sales of FHLB, Federal Reserve Bank, and other restricted stock	−14	—	−35	−3	—
Purchases of bank premises and equipment	−14	−1	−590,000	−4	−613,000
Proceeds from sale of fixed assets	18,000	0	73,000	0	0
Proceeds from sales of other real estate owned	118,000	79,000	33,000	0	45,000
Proceeds from sales of leased assets under lessor operating leases	18	18	3	7	10
Purchases of leased assets under lessor operating leases	−147	−64	−41	−109	−32
Net Cash Provided By (Used in) Investing Activities	−2,057	−1,006	3,158	−1,298	−1,201
Net increase (decrease) in deposits	1,906	934	−238	1,379	5,468
Net increase (decrease) in short-term borrowed funds from the FHLB	−100	100	−300	−400	−150
Proceeds from long-term borrowed funds from FHLB and FRB	490	155	2,565	500	0
Repayments of long-term borrowed funds from FHLB and FRB	−200	−325	−1,865	0	0
Repayments of other borrowings	0	−25	0	−100	0
Proceeds from issuance of subordinated long-term debt	98	0	0	—	0
Redemption of preferred stock	−143	0	0	0	−82
Preferred stock dividends paid	−11	−15	−15	−9	−11
Purchases of treasury stock	−6	−19	−40	−33	−28
Payments of employee taxes withheld from share-based awards	−14	−5	−2	−5	−6
Proceeds from issuance of common stock	166	2	3	533,000	28
Net Cash Provided by (Used in) Financing Activities	2,188	801	108	1,257	755
Net Increase (Decrease) in Cash and Cash Equivalents	626	−60	3,391	−62	−175
Interest paid	601	715	650	227	108
Income taxes paid	36	58	45	80	94
Purchases of investment securities held to maturity upon sale of consumer installment loans	0	160	437	400	0
Transfer of loans held for investment to held for sale	5	56	309	4	0
Transfer of loans held for sale to held for investment	139	7	15	0	56
Transfer of loans to other real estate owned	13	0	0	—	0

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