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Customers Bancorp, Inc. (CUBB) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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Customers Bancorp, Inc.

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CIK: 1488813 Ticker: CUBB

Exhibit 99.1
customersbancorp_logoxprim.jpg
Customers Bancorp, Inc.
701 Reading Avenue
West Reading, PA 19611

Contacts:
Jay Sidhu, Chairman & CEO 610-935-8693
Sam Sidhu, President 484-744-8985
Carla Leibold, CFO 484-923-8802
Customers Bancorp Reports Record Results for Full Year 2021
Record Full Year 2021 Net Income of $300.1 million, or $8.91 Per Diluted Share, Up 153% Over Full Year 2020
Record Deposit Growth of $5.5 billion, Up 48% Year-Over-Year
Q4 2021 Net Income of $98.6 million, or $2.87 Per Diluted Share, Up 87% Over Q4 2020
Q4 2021 ROAA of 2.08% and ROCE of 33.2%
Q4 2021 Loan Growth of $1.0 billion (Excluding PPP Loans and Loans to Mortgage Companies), Up 13% Over Q3 2021
Q4 2021 Tangible Book Value Increased 33% Over Q4 2020
•Full year 2021 net income available to common shareholders was $300.1 million, or $8.91 per diluted share, up 153% over full year 2020.
•Full year 2021 core earnings (a non-GAAP measure) were $343.6 million, or $10.20 per diluted share, up 187% over full year 2020.
•Full year 2021 core earnings (excluding Paycheck Protection Program ("PPP") loans) (a non-GAAP measure) were $148.5 million, or $4.41 per diluted share, up 90% over full year 2020.
•Q4 2021 net income available to common shareholders was $98.6 million, or $2.87 per diluted share, up 87% over Q4 2020.
•Q4 2021 core earnings (a non-GAAP measure) were $100.1 million, or $2.92 per diluted share, up 83% over Q4 2020.
•Q4 2021 ROAA was 2.08% and Core ROAA (a non-GAAP measure) was 2.11%. Q4 2020 ROAA was 1.23% and Core ROAA (a non-GAAP measure) was 1.26%.
•Q4 2021 ROCE was 33.2% and Core ROCE (a non-GAAP measure) was 33.7%. Q4 2020 ROCE was 24.3% and Core ROCE (a non-GAAP measure) was 25.1%.
•Adjusted pre-tax pre-provision net income (a non-GAAP measure) for Q4 2021 was $129.3 million, an increase of 66% over Q4 2020. Q4 2021 adjusted pre-tax
1
The following information was filed by Customers Bancorp, Inc. (CUBB) on Monday, January 24, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Customers Bancorp, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Customers Bancorp, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Income
Bank Premises And Equipment
Bank Premises And Equipment (Tables)
Bank Premises And Equipment - Components Of Bank Premises And Equipment (Detail)
Bank Premises And Equipment - Narrative (Detail)
Borrowings
Borrowings (Tables)
Borrowings - Fhlb And Frb Advances (Details)
Borrowings - Long-Term Debt (Details)
Borrowings - Narrative (Detail)
Borrowings - Short Term Borrowings (Detail)
Borrowings - Summary Of Bancorps Short Term Borrowings (Detail)
Changes In Accumulated Other Comprehensive Income (Loss) By Component
Changes In Accumulated Other Comprehensive Income (Loss) By Component (Details)
Changes In Accumulated Other Comprehensive Income (Loss) By Component (Tables)
Condensed Financial Statements Of Parent Company
Condensed Financial Statements Of Parent Company (Tables)
Condensed Financial Statements Of Parent Company - Summary Of Condensed Balance Sheets Of Parent Company (Detail)
Condensed Financial Statements Of Parent Company - Summary Of Condensed Income Statements Of Parent Company (Detail)
Condensed Financial Statements Of Parent Company - Summary Of Condensed Statements Of Cash Flows Of Parent Company (Detail)
Deposits
Deposits (Tables)
Deposits - Components Of Deposits (Detail)
Deposits - Narrative (Detail)
Deposits - Schedule Of Time Deposit Maturities (Detail)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Cumulative Basis Adjustment For Fair Value Hedges (Detail)
Derivative Instruments And Hedging Activities - Effect Of Derivative Instruments On Comprehensive Income (Detail)
Derivative Instruments And Hedging Activities - Fair Value Of Derivative Financial Instruments (Detail)
Derivative Instruments And Hedging Activities - Narrative (Detail)
Derivative Instruments And Hedging Activities - Summary Of Offsetting Of Financial Assets And Derivative Assets (Detail)
Derivative Instruments And Hedging Activities - Summary Of Offsetting Of Financial Liabilities And Derivative Liabilities (Detail)
Description Of The Business
Description Of The Business - Narrative (Detail)
Disclosures About Fair Value Of Financial Instruments
Disclosures About Fair Value Of Financial Instruments (Tables)
Disclosures About Fair Value Of Financial Instruments - Estimated Fair Values Of Financial Instruments (Detail)
Disclosures About Fair Value Of Financial Instruments - Narrative (Detail)
Disclosures About Fair Value Of Financial Instruments - Statement Of Changes In Level 3 Assets Measured At Fair Value On A Recurring Basis (Detail)
Disclosures About Fair Value Of Financial Instruments - Summary Of Financial Assets And Financial Liabilities Measured At Fair Value On Recurring And Nonrecurring Basis (Detail)
Disclosures About Fair Value Of Financial Instruments - Summary Of Financial Assets And Liabilities Measured At Fair Value On A Recurring And Non-Recurring Basis (Detail)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Balance Sheet (Details)
Discontinued Operations - Income Statement (Details)
Discontinued Operations - Narrative (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Anti-Dilutive Securities Excluded From Computation Of Earnings (Loss) Per Share (Detail)
Earnings Per Share - Components Of Earnings Per Share (Detail)
Employee Benefit Plans
Employee Benefit Plans - Narrative (Detail)
Financial Instruments With Off-Balance-Sheet Risk
Financial Instruments With Off-Balance-Sheet Risk (Tables)
Financial Instruments With Off-Balance-Sheet Risk - Narrative (Detail)
Financial Instruments With Off-Balance-Sheet Risk - Schedule Of Financial Instruments Outstanding Contract Amounts Represent Credit Risk (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Income Tax Expense (Detail)
Income Taxes - Components Of Net Deferred Tax Assets (Liabilities) (Detail)
Income Taxes - Narrative (Detail)
Income Taxes - Schedule Of Income (Loss) Before Income Tax Expense (Benefit) (Detail)
Investment Securities
Investment Securities (Tables)
Investment Securities - Gross Unrealized Losses And Fair Value, Aggregated By Investment Category (Detail)
Investment Securities - Narrative (Details)
Investment Securities - Summary Of Amortized Cost And Approximate Fair Value Of Investment Securities (Detail)
Investment Securities - Summary Of Investment Securities By Stated Maturity (Detail)
Leases
Leases (Tables)
Leases - Lease, Cost (Details)
Leases - Lessee Narrative (Details)
Leases - Lessor Narrative (Details)
Leases - Lessor, Lease Receivables And Investment In Operating Leases And Their Corresponding Balance Sheet Location (Details)
Leases - Maturities Of Non-Cancelable Lease Liabilities (Details)
Leases - Right-Of-Use Assets And Lease Liabilities (Details)
Leases - Summary Of Lease Term And Discount Rate (Details)
Loans And Leases Receivable And Allowance For Credit Losses On Loans And Leases
Loans And Leases Receivable And Allowance For Credit Losses On Loans And Leases (Tables)
Loans And Leases Receivable And Allowance For Credit Losses On Loans And Leases - Additional Information (Detail)
Loans And Leases Receivable And Allowance For Credit Losses On Loans And Leases - Analysis Of Loans Modified In Troubled Debt Restructuring By Type Of Concession (Detail)
Loans And Leases Receivable And Allowance For Credit Losses On Loans And Leases - Credit Ratings (Detail)
Loans And Leases Receivable And Allowance For Credit Losses On Loans And Leases - Performance Status (Detail)
Loans And Leases Receivable And Allowance For Credit Losses On Loans And Leases - Schedule Of Allowance For Credit Losses (Detail)
Loans And Leases Receivable And Allowance For Credit Losses On Loans And Leases - Schedule Of Loan Purchases And Sales (Details)
Loans And Leases Receivable And Allowance For Credit Losses On Loans And Leases - Schedule Of Loans And Leases Receivable (Detail)
Loans And Leases Receivable And Allowance For Credit Losses On Loans And Leases - Summary Of Amortized Cost Of Loans And Leases On Nonaccrual Status (Detail)
Loans And Leases Receivable And Allowance For Credit Losses On Loans And Leases - Summary Of Loans Modified In Troubled Debt Restructurings And Related Recorded Investment (Detail)
Loans Held For Sale
Loans Held For Sale (Tables)
Loans Held For Sale - Composition Of Loans Held For Sale (Detail)
Loss Contingencies
Loss Contingencies - Narrative (Details)
Regulatory Capital
Regulatory Capital (Tables)
Regulatory Capital - Narrative (Details)
Regulatory Capital - Summary Of Capital Amounts, Tier 1 Risk Based And Tier 1 Leveraged Ratios (Detail)
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited) (Tables)
Selected Quarterly Financial Data (Unaudited) - Schedule Of Quarterly Financial Information (Detail)
Share-Based Compensation Plans
Share-Based Compensation Plans (Tables)
Share-Based Compensation Plans - Narrative (Detail)
Share-Based Compensation Plans - Statement Of Weighted-Average Assumptions Used And Resulting Weighted-Average Fair Value Of Option (Detail)
Share-Based Compensation Plans - Status Of Restricted Stock (Detail)
Share-Based Compensation Plans - Summary Of Non-Vested Options (Detail)
Share-Based Compensation Plans - Summary Of Stock Option Activity (Detail)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Narrative (Detail)
Shareholders' Equity - Preferred Stock And Dividends Paid Per Share (Details)
Significant Accounting Policies And Basis Of Presentation
Significant Accounting Policies And Basis Of Presentation (Policies)
Significant Accounting Policies And Basis Of Presentation (Tables)
Significant Accounting Policies And Basis Of Presentation - Narrative (Detail)
Subsequent Events
Transactions With Executive Officers, Directors, And Principal Shareholders
Transactions With Executive Officers, Directors, And Principal Shareholders - Narrative (Details)
Ticker: CUBB
CIK: 1488813
Form Type: 10-K Annual Report
Accession Number: 0001488813-22-000018
Submitted to the SEC: Mon Feb 28 2022 4:49:14 PM EST
Accepted by the SEC: Mon Feb 28 2022
Period: Friday, December 31, 2021
Industry: State Commercial Banks

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