Customers bancorp, inc. (CUBI)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Interest income:
Loans and leases

116,080

116,364

118,444

103,567

93,116

94,248

97,815

95,240

85,931

105,175

88,740

84,560

61,461

128,971

60,362

59,013

54,472

101,648

46,291

42,801

43,093

43,173

39,640

35,220

28,355

24,922

22,363

19,196

16,099

14,658

25,368

15,881

14,603

10,440

11,280

10,176

9,502

9,204

-

Loans held for sale

-

-

-

-

-

-

-

-

-

-

-

-

13,946

-

18,737

17,429

14,106

-

14,006

13,522

10,900

10,500

8,503

6,715

5,083

6,604

9,495

11,157

10,884

11,838

1,622

1,469

1,021

-

-

-

-

-

-

Investment securities

4,977

5,124

5,867

6,481

6,241

6,277

8,495

9,765

8,672

4,136

7,307

7,823

5,887

3,418

3,528

3,638

3,709

3,506

2,283

2,253

2,363

2,442

2,361

2,543

3,040

2,980

1,423

1,082

829

795

805

2,219

2,912

3,808

3,973

4,351

2,017

115

-

Loans receivable, non-taxable, including fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

122

-

-

-

55

41

14

-

17

22

22

-

-

Investment securities, non-taxable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

21

21

21

-

22

22

22

22

-

Other

4,286

2,508

2,407

1,902

1,718

2,778

3,735

2,634

2,361

2,254

2,238

1,469

1,800

1,492

1,585

1,240

1,111

987

1,156

1,107

2,362

1,048

794

614

396

628

148

238

108

398

91

69

65

1

67

75

276

125

-

Total interest income

125,343

123,996

126,718

111,950

101,075

103,303

110,045

107,639

96,964

97,619

98,285

93,852

83,094

83,609

84,212

81,320

73,398

67,713

63,736

59,683

58,718

57,163

51,298

45,092

36,874

35,012

33,551

31,673

27,920

27,516

27,962

19,700

18,636

19,401

15,359

14,646

11,839

9,466

0

Interest expense:
Deposits

34,353

35,992

38,267

35,980

31,225

34,029

32,804

24,182

19,793

18,650

18,381

16,228

14,323

13,913

13,009

11,138

10,208

9,289

9,022

8,145

7,526

7,133

6,179

5,727

5,415

5,278

5,470

5,136

5,136

5,388

5,191

5,424

5,073

5,201

5,564

5,646

5,450

3,111

-

FHLB advances

5,390

6,056

7,563

7,607

5,293

3,662

9,125

11,176

7,080

5,698

7,032

5,340

3,060

2,322

3,291

3,716

2,268

1,699

1,556

1,799

1,689

1,846

1,711

1,141

496

-417

1,041

330

238

173

194

106

133

142

95

121

89

-

-

Subordinated debt

2,689

1,931

1,684

1,684

1,684

1,685

1,684

1,684

1,684

1,684

1,685

1,685

1,685

1,684

1,685

1,685

1,685

1,684

1,685

1,685

1,685

1,688

1,700

110

16

-

16

17

-

17

17

17

18

-

16

16

16

-

-

Federal funds purchased and other borrowings

1,590

2,425

3,469

2,000

3,569

2,404

2,431

3,275

3,376

3,287

3,168

1,993

1,608

1,570

1,642

1,620

1,606

1,573

1,539

1,496

1,488

1,509

1,494

1,184

1,155

-

-

74

21

-

-

-

-

-

-

-

-

-

-

Federal funds purchased

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20

-

-

-

5

1

2

2

0

0

0

17

-

Securities sold under repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21

7

-

92

-

Total interest expense

44,022

46,404

50,983

47,271

41,771

41,780

46,044

40,317

31,933

29,319

30,266

25,246

20,676

19,489

19,627

18,159

15,767

14,245

13,802

13,125

12,388

12,176

11,084

8,162

7,082

6,802

6,547

5,557

5,395

5,580

5,407

5,548

5,226

5,423

5,696

5,790

5,555

3,220

0

Net interest income

81,321

77,592

75,735

64,679

59,304

61,523

64,001

67,322

65,031

68,300

68,019

68,606

62,418

64,120

64,585

63,161

57,631

53,468

49,934

46,558

46,330

44,987

40,214

36,930

29,792

28,210

27,004

26,116

22,525

21,936

22,555

14,152

13,410

13,978

9,663

8,856

6,284

6,246

0

Provision for credit losses on loans and leases

31,786

9,688

4,426

5,346

4,767

1,385

2,924

-784

2,117

831

2,352

535

3,050

187

88

786

1,980

6,173

2,094

9,335

2,964

2,458

5,035

2,886

4,368

-513

750

2,116

-117

-384

10,116

2,738

1,800

945

900

2,850

2,800

4,075

0

Net interest income after provision for credit losses on loans and leases

49,535

67,904

71,309

59,333

54,537

60,138

61,077

68,106

62,914

67,469

65,667

68,071

59,368

63,933

64,497

62,375

55,651

47,295

47,840

37,223

43,366

42,529

35,179

34,044

25,424

28,723

26,254

24,000

22,642

22,320

12,439

11,414

11,610

13,033

8,763

6,006

3,484

2,171

0

Non-interest income:
Non-interest income

11,553

11,349

11,779

11,243

12,349

-

10,297

9,106

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Commercial lease income

4,268

3,840

3,080

2,730

2,401

1,982

1,419

1,091

862

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bank-owned life insurance

1,762

1,796

1,824

1,836

1,816

1,851

1,869

1,869

2,031

1,922

1,672

2,258

1,367

1,107

1,386

1,120

1,123

3,599

1,177

1,169

1,061

1,055

976

836

835

824

615

567

476

385

359

323

265

276

264

263

601

59

-

Loan fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

66

79

-

-

Mortgage warehouse transactional fees

1,952

1,983

2,150

1,681

1,314

1,495

1,809

1,967

1,887

2,205

2,396

2,523

2,221

2,845

3,080

3,074

2,548

2,530

2,792

2,799

2,273

2,105

2,154

2,215

1,759

2,336

3,090

3,868

3,668

3,460

3,346

3,384

2,099

1,827

1,366

1,277

1,111

780

-

Gain (loss) on sale of SBA and other loans

11

2,800

0

0

0

-100

1,100

900

1,400

1,155

1,144

573

1,328

1,550

1,206

285

644

858

1,131

827

1,231

1,858

695

572

0

-

-6

358

-

89

-71

339

0

251

0

0

78

0

-

Bargain purchase gains on bank acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40,254

-

Accretion of FDIC loss sharing receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-1,296

0

655

-

0

800

909

149

-

Loss on sale of other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

Gains on sales of securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35

-

Mortgage banking income

296

-634

283

250

167

73

207

205

121

172

257

291

155

232

287

285

165

136

167

287

151

-127

212

1,554

409

-

-

0

0

-

-

-

-

-

-

-

-

-

-

Loss upon acquisition of interest-only GNMA securities

-

-

0

7,476

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (loss) on sale of investment securities

3,974

-

1,001

-

0

-

-18,659

-

-

-

5,349

3,183

-

0

-1

0

26

0

-16

-69

0

0

0

359

2,832

1,274

0

0

0

11

0

8,797

209

1,318

1,413

0

0

-

-

Unrealized gain (loss) on investment securities

-1,378

-

1,333

-

2

-

-1,236

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net

-

-

-

-

-

-

-

-

-

-

8,349

2,882

1,703

7,262

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interchange and card revenue

-

-

-

-

-

-

-

-

-

-

-

-

13,511

-

11,547

160

144

-

128

132

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposit fees

-

-

-

-

-

-

-

-

-

-

-

-

3,127

-

4,218

278

254

253

265

247

179

183

192

212

214

188

198

159

130

124

124

117

116

124

114

94

104

266

-

Gain on sale of repossessed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

Gain on sale of bank premises and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

Other

776

5,974

3,187

2,907

3,003

5,318

6,493

2,034

2,895

1,447

3,328

1,664

2,748

3,145

5,763

651

363

1,747

527

1,001

838

197

873

1,163

1,261

1,136

958

598

624

93

4,723

278

388

407

85

142

354

117

-

Total non-interest income

21,930

25,815

23,369

12,036

19,718

19,877

2,084

16,127

20,910

19,739

18,026

18,391

22,754

17,764

27,486

5,853

5,267

9,420

6,171

6,393

5,733

5,803

5,102

6,911

7,310

7,400

4,855

5,550

4,898

2,211

9,777

13,238

3,732

2,349

3,242

2,642

3,236

41,660

0

Non-interest expense:
Salaries and employee benefits

28,310

27,696

27,193

26,920

25,823

26,706

25,462

27,748

24,925

25,948

24,807

23,651

21,112

25,162

22,681

16,401

16,397

15,396

14,981

14,448

13,952

13,071

12,070

11,591

9,351

10,625

8,963

8,508

7,397

6,774

5,978

5,598

5,496

4,762

3,752

3,973

4,115

7,552

-

Technology, communication and bank operations

13,050

10,371

8,755

12,402

11,953

11,532

11,657

11,322

9,943

12,658

14,401

8,910

9,916

9,481

12,525

2,448

2,385

2,805

2,422

2,838

2,531

2,304

2,297

2,305

1,560

3,584

1,121

1,061

841

768

699

691

647

486

485

513

313

1,049

-

Professional services

7,670

6,470

8,348

5,718

4,573

5,675

4,743

3,811

6,008

6,909

7,403

6,227

7,512

8,607

7,006

2,750

2,321

3,664

2,673

2,792

1,913

1,384

1,671

1,881

2,282

2,399

1,191

1,252

706

994

819

769

886

1,160

1,234

1,304

1,426

795

-

Occupancy

3,032

3,470

3,661

3,064

2,903

2,933

2,901

3,141

2,834

2,933

2,857

2,657

2,714

3,276

2,450

2,363

2,238

2,199

2,169

2,199

2,101

1,396

2,119

1,911

2,637

243

2,289

2,110

1,910

1,878

1,709

1,849

1,380

1,274

1,022

1,004

986

601

-

Commercial lease depreciation

3,427

2,839

2,459

2,252

1,923

1,550

1,103

920

815

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

FDIC assessments, non-income taxes, and regulatory fees

2,867

2,493

-777

2,157

1,988

1,892

2,415

2,135

2,200

1,290

2,475

2,416

1,725

2,241

2,726

4,289

3,841

3,233

3,222

995

3,278

2,587

3,320

3,078

2,131

2,058

1,105

1,058

1,347

832

669

867

669

739

373

431

823

463

-

Provision for operating losses

912

1,415

3,998

2,446

1,779

1,686

1,171

1,233

1,526

1,534

1,509

1,746

1,646

-

1,406

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Advertising and promotion

1,641

899

976

1,360

809

917

820

319

390

362

404

378

326

622

591

194

142

369

330

429

347

77

261

428

414

301

450

408

115

373

270

301

275

355

206

205

228

239

-

Loan workout and other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

415

385

-

-

Impairment and losses on other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15

196

-

-

Merger and acquisition related expenses

50

100

0

0

0

471

2,945

869

106

410

0

0

0

-

144

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

1

530

0

0

0

-

Loan workout

366

229

495

643

320

360

516

648

659

522

915

408

521

566

592

487

418

586

285

-13

269

400

388

477

441

571

928

72

674

724

617

543

359

-

370

-

-

-

-

Other real estate owned

-8

-247

-108

14

-57

-365

-66

-58

40

-1,120

445

160

-55

291

1,192

183

287

490

1,722

-580

884

1,757

603

890

351

403

401

525

36

-624

-276

709

106

-

102

-

-

531

-

Loss contingency

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,000

0

0

0

0

-

-

-

-

-

-

Stock offering expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

97

1,340

-

-

0

0

-

-

-

Other

5,126

2,514

4,376

2,634

1,856

3,038

3,305

1,546

2,834

1,679

5,824

3,860

3,949

4,649

4,905

2,970

3,842

2,632

2,503

2,552

2,190

2,759

1,950

2,644

2,002

2,118

1,899

1,901

1,454

1,725

1,424

1,907

809

1,095

656

578

619

312

-

Total non-interest expense

66,459

58,743

59,592

59,582

53,984

57,045

57,104

53,750

52,280

54,787

61,040

50,413

49,366

58,057

56,218

32,085

31,871

31,514

30,307

25,660

27,465

25,735

24,679

25,205

21,169

22,302

18,347

16,895

16,480

13,444

12,006

14,574

10,627

10,627

8,730

8,438

9,091

11,542

0

Income before income tax expense

5,006

34,976

35,086

11,787

20,271

22,970

6,057

30,483

31,544

32,421

22,653

36,049

32,756

23,640

35,765

36,143

29,047

25,201

23,704

17,956

21,634

22,597

15,602

15,750

11,565

13,821

12,762

12,655

11,060

11,087

10,210

10,078

4,715

4,755

3,275

210

-2,371

32,289

0

Income tax expense

1,906

7,451

8,020

2,491

4,831

5,109

28

6,820

7,402

10,807

14,899

12,327

7,009

7,227

14,558

14,369

9,739

7,415

8,415

6,400

7,682

8,096

3,940

5,517

3,429

4,810

4,494

4,429

3,871

3,521

3,574

3,574

1,603

1,535

930

65

-695

4,455

0

Net income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21,774

19,308

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from discontinued operations before income tax benefit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,696

-1,812

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income tax benefit from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,405

-688

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net loss from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,291

-1,124

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

3,100

27,525

27,066

9,296

15,440

17,861

6,029

23,663

24,142

21,614

7,754

23,722

25,747

19,828

21,207

19,483

18,184

17,786

15,289

11,556

13,952

13,183

11,662

10,233

8,136

9,011

8,268

8,226

7,189

7,566

6,636

6,504

3,112

3,220

2,345

145

-1,676

27,834

0

Preferred stock dividends

3,615

3,614

3,615

3,615

3,615

3,614

3,615

3,615

3,615

3,614

3,615

3,615

3,615

3,615

2,552

2,062

1,286

1,006

980

507

0

-

0

0

-

-

-

-

-

-

-

-

-

-

5

-

-

0

-

Net income (loss) available to common shareholders

-515

23,911

23,451

5,681

11,825

14,247

2,414

20,048

20,527

18,000

4,139

20,107

22,132

16,213

18,655

17,421

16,898

16,780

14,309

11,049

13,952

-

11,662

10,233

-

-

-

-

-

-

-

-

-

-

2,340

-

-

27,834

-

Basic earnings per common share from continuing operations (usd per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.73

0.67

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Basic earnings (loss) per common share (usd per share)

-0.02

0.77

0.75

0.18

0.38

0.44

0.08

0.64

0.65

0.58

0.13

0.66

0.73

0.56

0.68

0.64

0.63

0.63

0.53

0.41

0.52

0.50

0.44

0.38

0.30

0.26

0.34

0.35

0.39

0.24

0.53

0.57

0.27

0.33

0.24

0.01

-0.18

3.86

0.00

Diluted earnings per common share from continuing operations (usd per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.67

0.62

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Diluted earnings (loss) per common share (usd per share)

-0.02

0.75

0.74

0.18

0.38

0.45

0.07

0.62

0.64

0.55

0.13

0.62

0.67

0.51

0.63

0.59

0.58

0.58

0.50

0.39

0.49

0.47

0.42

0.37

0.29

0.25

0.33

0.34

0.38

0.23

0.51

0.56

0.27

0.33

0.23

0.01

-0.18

3.81

0.00

Interchange and card revenue
Non-interest income

6,809

6,506

6,869

6,760

8,806

7,568

7,084

6,382

9,661

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposit fees
Non-interest income

3,460

3,616

3,642

3,348

2,209

2,098

2,002

1,632

2,092

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-