Customers Bancorp, Inc. (CUBI)

Customers Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	955.71	1,033	745.31	736.82	512.05	431.49
Interest Income on Investments	388.13	334.62	140.06	44.06	31.26	32.25
Total Interest Income	1,344	1,367	885.37	780.88	543.3	463.74
Interest Paid on Deposits	608.65	576.44	226.24	62.64	92.05	141.46
Interest Paid on Borrowings	76.11	103.47	35.41	33.17	47.57	44.97
Total Interest Expense	684.75	679.91	261.65	95.81	139.62	186.43
Net Interest Income	659.09	687.45	623.72	685.07	403.69	277.31
Net Interest Income Growth (YoY)	1.39%	10.22%	-8.96%	69.70%	45.57%	7.54%
Mortgage Banking Activities	4.02	4.4	6.74	12.87	13.23	7.19
Gain (Loss) on Sale of Assets	-	-	-	-2.84	-	-
Gain (Loss) on Sale of Investments	-0.89	-0.57	-23.16	31.39	21.53	-5.18
Other Non-Interest Income	80.2	72.98	61.49	25.11	24.53	28.75
Total Non-Interest Income	79.5	70.57	24.75	77.87	63.82	35.28
Non-Interest Income Growth (YoY)	41.30%	185.08%	-68.21%	22.01%	80.87%	-40.19%
Revenues Before Loan Losses	738.59	758.01	648.47	762.94	467.51	312.59
Provision for Loan Losses	65.78	74.61	60.07	27.43	62.77	24.23
Revenue	672.81	683.4	588.41	735.52	404.73	288.37
Revenue Growth (YoY)	9.04%	16.14%	-20.00%	81.73%	40.35%	-7.35%
Salaries and Employee Benefits	149.4	120.69	98.22	94.34	81.18	70.27
Occupancy Expenses	33.37	32.1	26.28	20.12	16.92	12.47
Federal Deposit Insurance	45.58	35.04	8.87	10.06	11.66	5.81
Selling, General & Administrative	125.26	124.28	139.46	135.46	88.07	76.55
Other Non-Interest Expense	46.8	36.47	31.81	34.33	15.78	15.49
Total Non-Interest Expense	400.41	348.57	304.63	294.31	213.61	180.59
EBT Excluding Unusual Items	272.4	334.84	283.78	441.21	191.12	107.78
Legal Settlements	-	-4.1	7.52	-	-	-
Pretax Income	272.4	330.74	291.3	441.21	189.76	107.78
Income Tax Expense	55.75	80.6	63.26	86.94	46.72	26.39
Earnings From Continuing Operations	216.65	250.14	228.03	354.27	143.04	81.39
Earnings From Discontinued Operations	-	-	-	-39.62	-10.46	-2.06
Net Income	216.65	250.14	228.03	314.65	132.58	79.33
Preferred Dividends & Other Adjustments	15.26	14.7	9.63	14.51	14.04	14.46
Net Income to Common	201.39	235.45	218.4	300.13	118.54	64.87
Net Income Growth	-0.05%	9.70%	-27.53%	137.33%	67.13%	10.65%
Basic Shares Outstanding	32	31	33	32	32	31
Diluted Shares Outstanding	33	32	34	34	32	32
Shares Change (YoY)	1.29%	-4.14%	-0.44%	6.21%	0.26%	-1.82%
EPS (Basic)	6.39	7.49	6.69	9.29	3.76	2.08
EPS (Diluted)	6.16	7.32	6.51	8.90	3.74	2.05
EPS Growth	-1.90%	12.44%	-26.89%	138.06%	82.02%	15.44%
Effective Tax Rate	20.47%	24.37%	21.72%	19.70%	24.62%	24.49%

Source: S&P Capital IQ. Banks template. Financial Sources.