Customers bancorp, inc. (CUBI)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash Flows from Operating Activities
Net income

79,327

71,695

78,837

78,702

58,583

44,532

32,694

23,818

4,034

23,735

-13,235

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses on loans and leases

24,227

5,642

6,768

3,041

20,566

14,747

2,236

14,270

7,495

10,397

11,778

Loss contingency

-

-

-

-

-

-

2,000

0

0

-

-

Depreciation and amortization

22,879

14,157

10,801

5,897

3,998

3,583

3,129

2,024

1,375

840

726

Share-based compensation expense

9,851

9,740

7,167

7,069

5,661

5,237

3,368

2,014

704

2,041

0

Bargain purchase gain on bank acquisitions

-

-

-

-

-

-

-

-

-

40,254

0

Deferred taxes

14,516

9,303

14,820

-2,579

-10,092

-6,187

2,210

-3,731

-2,728

1,817

-394

Net amortization (accretion) of investment securities premiums and discounts

-1,016

-1,403

-702

-891

-858

-821

-475

-3,062

143

133

-184

Unrealized (gain) loss on investment securities

1,300

-1,600

0

0

-

-

-

-

-

-

-

(Gain) loss on sale of investment securities

1,001

-18,659

8,800

25

-85

3,191

1,274

9,017

2,731

1,114

236

Loss upon acquisition of interest-only GNMA securities

7,476

0

0

-

-

-

-

-

-

-

-

Impairment loss on investment securities

0

0

12,934

7,262

0

-

-

-

-

-

15

(Gain) loss on sale of SBA and other loans

2,804

3,913

4,898

3,685

4,479

5,344

852

357

329

98

0

Origination of loans held for sale

48,044

31,699

41,172

39,750

39,257

18,138,339

20,670,866

13,410,485

2,243,122

199,970

0

Proceeds from the sale of loans held for sale

47,455

32,676

40,656

42,772

40,815

17,553,196

21,360,465

12,145,595

2,268,340

0

0

Amortization (accretion) of fair value discounts and premiums

893

194

88

405

832

-273

-912

-240

280

417

0

Decrease in FDIC loss sharing receivable net of clawback liability

-

-

-

-255

2,430

2,409

1,610

3,838

1,965

520

0

Net (gain) loss on sales of other real estate owned

-137

-183

-154

-130

-761

-966

-732

-1,228

367

-67

-31

Valuation and other adjustments to other real estate owned

62

153

298

1,473

992

1,979

839

295

576

635

350

Earnings on investment in bank-owned life insurance

7,272

7,620

7,219

4,736

7,006

3,702

2,482

1,458

1,404

228

229

(Increase) decrease in accrued interest receivable and other assets

84,141

34,614

32,256

11,538

12,024

15,210

15,091

9,587

-2,257

11,417

1,868

Increase (decrease) in accrued interest payable and other liabilities

15,002

9,881

-16,687

5,819

8,706

9,606

6,974

4,346

-2,369

-6,927

450

Net Cash Used In Operating Activities

78,280

97,474

62,193

91,403

66,569

-539,988

722,035

-1,242,061

29,903

-221,546

-2,428

Cash Flows from Investing Activities
Proceeds from maturities, calls and principal repayments of investment securities

38,709

44,313

48,124

64,701

76,331

49,195

25,109

31,420

22,137

8,175

8,425

Purchases of investment securities held to maturity

-

-

-

-

-

-

-

-

397,482

0

0

Proceeds from sales of investment securities available for sale

97,555

476,182

769,203

2,852

806

213,249

135,193

309,221

182,743

154,287

11,816

Purchases of investment securities available for sale

0

763,242

796,594

5,000

231,703

164,940

542,110

114,049

72,932

303,681

34,489

Origination of mortgage warehouse loans

31,782,542

27,209,330

30,084,255

36,091,174

29,886,506

-

-

-

-

-

-

Proceeds from repayments of mortgage warehouse loans

30,900,905

27,597,318

30,407,662

35,729,309

29,463,289

-

-

-

-

-

-

Net (increase) decrease in loans and leases, excluding mortgage warehouse loans

-239,018

-59,534

960,372

794,954

1,341,133

1,814,317

1,008,410

-61,202

581,339

175,183

14,507

Proceeds from maturities, calls and principal repayments on investment securities held to maturity

-

-

-

-

-

-

-

50,968

78,049

0

39

Sales of investment securities held to maturity

-

-

-

-

-

-

-

-

-

-

2,263

Proceeds from sale of loans

273,388

110,526

462,518

133,104

248,060

162,724

11,624

4,502

5,172

-

-

Purchase of loans

1,167,417

397,888

262,641

0

0

309,927

164,033

63,246

10,000

94,632

0

Proceeds from bank-owned life insurance

0

529

1,418

619

3,384

0

0

-

-

-

-

Purchases of bank-owned life insurance

0

0

90,000

0

15,000

30,465

45,465

-

-

-

-

Net proceeds from (purchases of) FHLB, Federal Reserve Bank, and other restricted stock

5,471

16,233

37,510

-

-

-

-

-

-

1,465

0

Net purchases of bank-owned life insurance

-

-

-

-

-

-

-

25,465

-273

20,466

0

Net proceeds from FHLB, Federal Reserve Bank, and other restricted stock

-

-

-

-22,433

8,839

39,578

12,261

8,345

16,702

2,143

0

Proceeds and acquired cash in FDIC assisted transactions

-

-

-

-

-

-

-

-

-

72,931

0

Purchases of bank premises and equipment

1,705

1,777

2,135

5,426

2,939

1,270

3,894

2,713

2,721

3,287

430

Cash proceeds from acquisitions

-

-

-

-

-

-

-

-

19,207

0

0

Proceeds from sales of other real estate owned

735

2,213

1,680

1,051

8,890

7,991

9,506

12,062

5,572

2,633

3,071

Purchases of university relationship intangible asset

0

1,502

0

17,000

-

-

-

-

-

-

-

Payments to the FDIC on loss sharing agreements

-

-

-

2,049

-3,917

-5,446

-6,726

6,573

7,545

-11,115

0

Purchases of leased assets under lessor operating leases

48,552

37,207

22,223

0

0

-

-

-

-

-

-

Acquisition of Disbursements business, net

-

-

-

-

0

-

-

-

-

-

-

Net Cash Used In Investing Activities

-1,444,435

-104,098

-565,125

-961,534

-1,681,443

-1,921,892

-1,588,015

262,130

-760,478

-348,786

-23,812

Cash Flows from Financing Activities
Net (decrease) increase in deposits

1,506,700

342,094

-503,633

1,394,276

1,376,985

1,573,167

519,179

857,791

215,495

680,525

76,085

Net increase (decrease) in short-term borrowed funds from the FHLB

-748,070

-363,790

743,060

-831,500

-17,700

633,500

208,500

91,000

325,000

0

-4,000

Net increase (decrease) in federal funds purchased

-351,000

-32,000

-72,000

-13,000

-70,000

0

0

-

-

-

-

Proceeds from long-term borrowed funds from the FHLB

350,000

0

0

75,000

25,000

265,000

35,000

49,000

0

0

-

Proceeds from issuance of subordinated long-term debt

72,030

0

0

-

-

-

-

-

-

-

-

Proceeds from issuance of other long-term borrowings

24,477

0

98,564

0

0

133,142

60,336

0

0

-

-

Repayments of other borrowings

25,000

63,250

0

0

-

-

-

-

-

-

-

Repayment of subordinated debt

-

-

-

-

-

2,000

0

0

-

-

-

Net proceeds from issuance of preferred stock

-

-

-

161,902

55,569

0

0

-

-

-

-

Preferred stock dividends paid

14,459

14,459

14,459

9,051

2,314

0

0

-

-

-

4

Exercise and redemption of warrants

0

112

1,059

1,532

98

6

264

0

0

-

-

Purchase of treasury stock

571

12,976

0

0

-

0

7,754

0

500

0

0

Payments of employee taxes withheld from share-based awards

1,732

880

14,761

5,897

0

-

-

-

-

-

-

Repayment of TARP

-

-

-

-

-

-

-

-

3,056

0

0

Proceeds from issuance of common stock

2,150

3,585

2,716

70,985

806

77

97,507

94,586

28,526

59,724

16,671

Net Increase in Cash and Cash Equivalents of Continuing Operations

-

-

-

-

-

141,012

-

-

-

-

-

Discontinued Operations:
Net cash used in operating activities

-

-

-

-

-

-2,510

-

-

-

-

-

Net cash provided by (used in) investing activities

-

-

-

-

-

-28

-

-

-

-

-

Net cash used in financing activities

-

-

-

-

-

-519

-

-

-

-

-

Net Cash Used in Discontinued Operations

-

-

-

-

-

-3,057

-

-

-

-

-

Payment of TARP preferred stock dividends

-

-

-

-

-

-

-

-

44

0

0

Net Cash Provided By Financing Activities

1,516,525

-77,564

384,546

870,247

1,508,444

2,602,892

913,032

1,092,377

565,421

740,249

88,752

Net Increase (Decrease) in Cash and Cash Equivalents

150,370

-84,188

-118,386

116

-106,430

137,955

47,052

112,446

-165,154

169,917

62,512

Supplementary Cash Flow Information
Interest paid

182,596

160,384

101,575

71,216

51,313

37,580

24,157

21,709

22,642

10,241

-5,030

Income taxes paid

7,410

4,794

40,282

57,251

38,734

29,843

9,815

19,366

2,816

0

165

Non-cash Operating and Investing Activities:
Transfer of loans to other real estate owned

291

1,639

750

703

3,467

14,042

15,003

10,457

8,630

4,786

-3,088

Transfer of loans held for investment to held for sale

499,774

0

150,638

0

0

164,681

0

0

-

-

-

Transfer of loans held for sale to held for investment

0

129,691

0

25,118

30,365

18,826

0

-

-

-

-

Acquisition of interest-only GNMA securities securing a mortgage warehouse loan

17,157

0

0

-

-

-

-

-

-

-

-

Acquisition of interest-only GNMA securities securing a mortgage warehouse loan

17,157

0

0

-

-

-

-

-

-

-

-

Acquisition of residential reverse mortgage loans securing a mortgage warehouse loan

1,325

0

0

-

-

-

-

-

-

-

-

Transfer of held-to-maturity securities to available for sale

-

-

-

-

-

-

-

268,671

0

0

-

Issuance of common stock under share-based compensation arrangements

-

-

-

-

-

-

-

-

624

0

0

Exchange of preferred shares to common stock

-

-

-

-

-

-

-

-

-

-

980

Conversion of subordinated term note to common stock

-

-

-

-

-

-

-

-

-

-

-1,000

Assets acquired

-

-

-

-

-

-

-

-

130,481

285,605

0

Liabilities assumed

-

-

-

-

-

-

-

-

122,836

264,842

0