Customers Bancorp, Inc. (CUBI)

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Customers Bancorp, Inc.

CUBI • CIK 0001488813

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Interest and Fee Income, Loans and Leases Held-in-portfolio	$996,517	$901,457	$1,024,760	$1,074,245
Interest and Dividend Income, Securities, Operating	$200,659	$180,291	$139,790	$134,938
Interest Income, Deposits with Financial Institutions	$125,923	$190,842	$177,387	$173,959
Interest Income (Expense), Net	$687,449	$654,404	$750,489	$791,057
Interest and Fee Income, Loans and Leases Held-for-sale	$36,221	$46,073	$9,588	$5,536
Other Interest and Dividend Income	$8,040	$9,171	$8,062	$8,968
Interest Income (Expense), after Provision for Loan Loss	$612,838	$580,953	$652,531	$695,738
Interest and Dividend Income, Operating	$1,367,360	$1,327,834	$1,359,587	$1,397,646
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$330,740	$224,373	$288,431	$377,399
Income Tax Expense (Benefit)	$80,597	$42,904	$64,343	$85,949
Net Income (Loss) Attributable to Parent	$250,143	$181,469	$224,088	$291,450
Preferred Stock Dividends, Income Statement Impact	$14,695	$15,040	$10,198	$3,624
Preferred Stock Redemption Premium	$0	—	$4,707	$2,799
Net Income (Loss) Available to Common Stockholders, Basic	$235,448	$166,429	$209,183	$285,027
Interest Expense, Deposits	$576,437	$603,312	$539,133	$530,202
Interest Expense, Federal Home Loan Bank and Federal Reserve Bank Advances, Short-term	$80,008	$52,107	$51,953	$57,479
Interest Expense, Subordinated Notes and Debentures	$10,755	$12,309	$13,047	$13,950
Interest Expense, Other Long-term Debt	$6,425	$5,702	$4,965	$4,846
InterestExpenseOperating	—	$673,430	$609,098	$606,589
Operating Lease, Lease Income	$36,179	$40,662	$47,446	$56,532
Bank Owned Life Insurance Income	$11,777	$9,442	$11,263	$9,651
Debt Securities, Available-for-sale, Realized Gain (Loss)	$-574	$-27,009	$-1,638	$668
Debt Securities, Unrealized Gain (Loss)	$2,700	—	$-51,319	$0
Equity Securities, FV-NI, Unrealized Gain	—	$11,430	$0	$0
Noninterest Income, Other Operating Income	$4,809	$10,273	$22,182	$18,855
Noninterest Income	$70,565	$60,434	$67,823	$131,066
Labor and Related Expense	$133,275	$175,836	$188,989	$207,798
Communications and Information Technology	$65,550	$65,154	$43,497	$46,337
Professional Fees	$35,177	$34,978	$50,378	$46,390
Loan Processing Fee	$17,075	$15,909	$16,900	$15,786
Occupancy, Net	$10,070	$11,789	$15,624	$16,112
Marketing and Advertising Expense	$3,095	$4,489	$2,437	$2,483
Legal Fees	$4,096	$0	$0	$0
Other Noninterest Expense	$19,391	$34,632	$34,577	$37,587
Noninterest Expense	$352,663	$417,014	$431,923	$449,405
Weighted Average Number of Shares Outstanding, Basic	31,435,647	31,509,179	32,393,487	34,814,416
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	723,141	1,209,955	1,044,809	1,300,541
Weighted Average Number of Shares Outstanding, Diluted	32,158,788	32,719,134	33,438,296	36,114,957

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Due from Banks	$45,210	$56,787	$62,051	$85,546
Interest-bearing Deposits in Banks and Other Financial Institutions	$3,801,136	$3,729,144	$4,349,412	$4,093,306
Cash and Cash Equivalents, at Carrying Value	$3,846,346	$3,785,931	$4,411,463	$4,178,852
DebtSecuritiesHeldToMaturityExcludingAccruedInterestBeforeAllowanceForCreditLoss	$1,103,170	$991,937	$729,134	$631,594
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance	$340,317	$204,794	$26,102	$58,611
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss	$11,889,120	$13,127,634	$15,041,340	$16,213,020
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	$135,311	$136,775	$155,656	$164,106
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss	$12,726,456	$14,311,987	$16,600,758	$17,792,583
Federal Home Loan Bank Stock and Federal Reserve Bank Stock	$109,548	$96,214	$110,411	$144,971
Interest Receivable	$114,766	$108,351	$103,626	$103,125
Property, Plant and Equipment, Net	$7,371	$6,668	$16,745	$19,773
Bank Owned Life Insurance	$292,193	$297,641	$305,503	$310,312
Other Real Estate and Foreclosed Assets	—	—	$12,432	$12,568
Intangible Assets, Net (Including Goodwill)	$3,629	$3,629	$3,629	$3,629
Other Assets	$366,829	$481,395	$638,419	$638,054
Assets	$21,316,265	$22,308,241	$24,895,868	$26,520,789
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances	$1,203,207	$1,128,352	$1,325,068	$2,059,163
Other Borrowings	$123,840	$99,068	$99,208	$99,278
Subordinated Debt	$182,230	$182,509	$281,147	$171,741
Accounts Payable and Other Accrued Liabilities	$248,358	$215,168	$296,224	$252,018
Liabilities	$19,677,871	$20,471,558	$22,780,351	$24,315,097
Preferred Stock, Value, Issued	$137,794	$137,794	$0	$0
Common Stock, Value, Issued	$35,459	$35,758	$36,189	$36,485
Additional Paid in Capital	$564,538	$575,333	$666,756	$669,114
Retained Earnings (Accumulated Deficit)	$1,159,582	$1,326,011	$1,535,194	$1,676,407
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-136,569	$-96,560	$-54,050	$-58,346
Treasury Stock, Common, Value	$122,410	$141,653	$68,572	$117,968
Stockholders' Equity Attributable to Parent	$1,638,394	$1,836,683	$2,115,517	$2,205,692
Noninterest-bearing Domestic Deposit, Demand	$4,422,494	$5,608,288	$6,303,748	$6,913,804
Interest-bearing Deposit Liabilities	$13,497,742	$13,238,173	$14,474,956	$14,819,093
Deposits	$17,920,236	$18,846,461	$20,778,704	$21,732,897
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest	$3,952	$7,604	$28,805	$29,910
Loans Held-for-sale, Fair Value Disclosure	$189,277	$163,891	$2,745	$5,510
Preferred Stock, Shares Authorized	100,000,000	100,000,000	100,000,000	100,000,000
Preferred Stock, Shares Issued	5,700,000	5,700,000	0	0
Common Stock, Shares Authorized	200,000,000	200,000,000	200,000,000	200,000,000
Common Stock, Shares, Issued	35,459,342	35,758,246	36,188,920	36,484,767
Common Stock, Shares, Outstanding	31,440,906	31,346,507	34,191,223	33,772,598
Treasury Stock, Common, Shares	4,018,436	4,411,739	1,997,697	2,712,169
Direct Financing Lease, Lease Receivable	$190,559	$251,507	$301,753	$324,767
Direct Financing Lease, Residual Value of Leased Asset	$15,783	$24,045	$26,859	$28,619
Direct Financing Lease, Unguaranteed Residual Asset	$10,010	$10,463	$11,788	$10,748
Direct Financing Lease, Deferred Selling Profit	$11,891	$24,673	$35,575	$40,060
DirectFinancingLeaseNetInvestmentInLeaseExcludingAccruedInterestBeforeAllowanceForCreditLoss	$205,674	$262,694	$306,542	$325,883
Property Subject to or Available for Operating Lease, Accumulated Depreciation	$77,672	$95,053	$105,706	$105,706
Letters of Credit Outstanding, Amount	$20,273	$31,832	$43,345	$47,249
Other Commitment	$17,523	$28,904	$37,308	$31,576
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal)	$-100	$2,000	$4,100	$1,000
Off-Balance Sheet, Credit Loss, Liability	$2,900	$4,900	$9,000	$10,000
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount	—	—	$2,300	$0

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	$250,143	$181,469	$224,088	$291,450
Net Cash Provided by (Used in) Operating Activities	—	$145,057	$494,759	$380,858
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$3,390,540	$-60,415	$625,532	$675,341
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$3,846,346	$3,785,931	$4,411,463	$5,780,977
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	$323,298	$629,192	$405,559	$511,966
Depreciation, Amortization and Accretion, Net	$31,813	$33,552	$41,804	$42,672
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities	$252,437	$291,497	$295,766	$249,624
Share-based Payment Arrangement, Noncash Expense	$12,585	$14,435	$18,458	$21,257
Proceeds from Sale of Debt Securities, Available-for-sale	$297,417	$624,917	$594,182	$214,709
Deferred Income Tax Expense (Benefit)	$22,177	$-1,143	$-10,990	$3,828
Payments to Acquire Debt Securities, Available-for-sale	$1,425	$845,788	$940,815	$1,470,043
Accretion (Amortization) of Discounts and Premiums, Investments	$11,582	$4,483	$3,941	$4,356
Payments to Acquire Held-to-maturity Securities	$73,074	$14,955	$27,759	$23,556
Unrealized Gain (Loss) on Investments	$62	$-94	$381	$110
Payments to Acquire Equity Method Investments	—	$5,140	$0	$0
Debt Securities, Unrealized Gain (Loss)	$2,700	—	$-51,319	$0
Equity Method Investment, Other than Temporary Impairment	—	—	$2,278	$0
Debt Securities, Available-for-sale, Realized Gain (Loss)	$-574	$-27,009	$-1,638	$668
Payments for (Proceeds from) Other Loans and Leases	$-2,267,601	$1,067,778	$1,583,202	$2,205,944
Equity Securities, FV-NI, Unrealized Gain	—	$11,430	$0	$0
Proceeds from Sale of Loans Receivable	$409,503	$35,003	$5,479	$48,957
Payments to Acquire Finance Receivables	$709,197	$198,393	$385,280	$403,326
Unrealized Gain (Loss) on Derivatives	$0	$1,856	$2,969	$1,175
Payment to Acquire Life Insurance Policy, Investing Activities	$0	—	$1,462	$0
Proceeds from Life Insurance Policy	$56,645	$5,110	$5,634	$1,431
Proceeds from Sale of Other Investments	$6,784	$13,334	$13,334	$13,334
Payments to Acquire Other Investments	$35,117	$35,117	$14,197	$46,381
Gain (Loss) on Sale of Mortgage Loans	$-867	$-15,628	$-60	$2,043
Payments to Acquire Property, Plant, and Equipment	$590	$1,491	$13,739	$14,267
Proceeds from Sale of Property, Plant, and Equipment	$73	$0	$18	$18
Payments for Origination of Mortgage Loans Held-for-sale	$806,582	$1,361,112	$780,517	$780,517
Proceeds from Sale of Foreclosed Assets	$33	$79	$118	$118
Proceeds from Sale of Mortgage Loans Held-for-sale	$600,488	$1,348,428	$855,937	$770,194
Proceeds from Sale of Lease Receivables	$2,541	$18,487	$17,963	$17,333
Payments to Acquire Equipment on Lease	$40,752	$63,696	$147,318	$137,543
Bank Owned Life Insurance Income	$11,777	$9,442	$11,263	$9,651
Net Cash Provided by (Used in) Investing Activities	$3,157,723	$-1,006,091	$-2,056,953	$-3,361,066
Increase (Decrease) in Other Operating Assets	$-23,584	$99,977	$26,147	$74,355
Increase (Decrease) in Other Operating Liabilities	$18,680	$-32,834	$81,427	$11,003
Increase (Decrease) in Deposits	$-238,149	$933,700	$1,905,969	$2,781,626
Proceeds from FHLBank Borrowings, Financing Activities	$2,565,000	$155,000	$490,000	$1,250,000
Payments of FHLBank Borrowings, Financing Activities	$1,865,000	$325,000	$200,000	$280,000
Repayments of Other Long-term Debt	$0	$25,000	$0	$0
Proceeds from Issuance of Subordinated Long-term Debt	—	—	$98,350	$98,350
Payments for Repurchase of Preferred Stock and Preference Stock	$0	—	$142,501	$85,000
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	$14,636	$15,147	$10,802	$3,954
Payments for Repurchase of Common Stock	$39,806	$19,243	$5,641	$49,396
Payment, Tax Withholding, Share-based Payment Arrangement	$2,433	$5,452	$13,500	$11,461
Proceeds from Issuance of Common Stock	$3,112	$1,761	$165,851	$165,384
Net Cash Provided by (Used in) Financing Activities	$108,088	$800,619	$2,187,726	$3,655,549
Interest Paid, Excluding Capitalized Interest, Operating Activities	$649,544	$715,214	$600,866	$600,866
Income Taxes Paid, Net	$44,972	$57,593	$36,080	$36,080
Transfer of Portfolio Loans and Leases to Held-for-sale	$309,076	$56,192	$5,252	$45,281
Transfer of Loans Held-for-sale to Portfolio Loans	$15,163	$7,181	$138,971	$3,260
Real Estate Owned, Transfer to Real Estate Owned	—	—	$12,644	$474
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	$124,729	—	—	$124,729

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Import this data to Google Sheets with:

=jivedata("CUBI","financials")

Full statements spill as a table. For one cell: =jivedata("CUBI","Revenue") or =jivedata("CUBI","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.