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Customers Bancorp, Inc. (CUBB) SEC Filing 10-Q Quarterly Report for the period ending Friday, September 30, 2022

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Customers Bancorp, Inc.

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CIK: 1488813 Ticker: CUBB

Exhibit 99.1
customersbancorp_logoxprima.jpg
Customers Bancorp, Inc. (NYSE:CUBI)
701 Reading Avenue
West Reading, PA 19611

Contact:
David W. Patti, Communications Director 610-451-9452
Customers Bancorp Reports Results for Third Quarter 2022

Third Quarter 2022 Results
EarningsEarnings Per ShareReturn on AssetsReturn on Common Equity
$61.4 million
$1.85
1.24%
19.33%
Net Income
Diluted Earnings Per Share
ROAA
ROCE
$82.3 million
$2.48
1.64%
25.91%
Core Earnings*
Core Earnings Per Diluted Share*
Core ROAA*
Core ROCE*
$76.4 million
$2.30
1.95%
31.01%
Core Earnings, excluding PPP*
Core Earnings Per Diluted Share, excluding PPP*
Pre-tax and Pre-provision Adjusted ROAA*Pre-tax and Pre-provision Adjusted ROCE*

Third Quarter 2022 Highlights
•Q3 2022 net income available to common shareholders was $61.4 million, or $1.85 per diluted share; ROAA was 1.24% and ROCE was 19.33%.
•Q3 2022 core earnings* were $82.3 million, or $2.48 per diluted share; Core ROAA* was 1.64% and Core ROCE* was 25.91%.
•Q3 2022 core earnings excluding Paycheck Protection Program* ("PPP") were $76.4 million, or $2.30 per diluted share, up 134.9% over Q3 2021, and bringing year-to-date core earnings (excluding PPP)* to $5.15.
•Q3 2022 adjusted pre-tax pre-provision net income* was $101.0 million; ROAA* was 1.95%, ROCE* was 31.01%.
•Year-over-year loan growth (excluding loans to mortgage companies and PPP*) was $4.5 billion, or 57.3%, led by our low-risk variable rate specialty lending verticals.


*Non-GAAP measure. Customers' reasons for the use of the non-GAAP measure and a detailed reconciliation between the non-GAAP measure and the comparable GAAP amount is included at the end of this document.
1
The following information was filed by Customers Bancorp, Inc. (CUBB) on Wednesday, October 26, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Customers Bancorp, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheet - Unaudited
Consolidated Balance Sheet - Unaudited (Parenthetical)
Consolidated Statements Of Cash Flows - Unaudited
Consolidated Statements Of Changes In Shareholders' Equity - Unaudited
Consolidated Statements Of Changes In Shareholders' Equity - Unaudited (Parenthetical)
Consolidated Statements Of Comprehensive Income (Loss) - Unaudited
Consolidated Statements Of Income (Loss) - Unaudited
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 Bancorp's Short-Term Borrowings (Detail)
Changes In Accumulated Other Comprehensive Income (Loss) By Component
Changes In Accumulated Other Comprehensive Income (Loss) By Component (Detail)
Changes In Accumulated Other Comprehensive Income (Loss) By Component (Tables)
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 - Additional Information (Detail)
Derivative Instruments And Hedging Activities - Cumulative Basis Adjustment For Fair Value Hedges (Detail)
Derivative Instruments And Hedging Activities - Effect Of Derivative Financial Instruments On Net Income And Comprehensive Income (Detail)
Derivative Instruments And Hedging Activities - Fair Value Of Derivative Financial Instruments (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 - Additional Information (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 Nonrecurring Basis (Detail)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Income Statement (Details)
Discontinued Operations - Narrative (Details)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Tables)
Earnings (Loss) Per Share - Anti-Dilutive Securities Excluded From Computation Of Earnings (Loss) Per Share (Detail)
Earnings (Loss) Per Share - Components Of Earnings Per Share (Detail)
Investment Securities
Investment Securities (Tables)
Investment Securities - Additional Information (Detail)
Investment Securities - Credit Valuation Allowance For Available For Sale Debt Securities (Details)
Investment Securities - Debt Securities, Held-To-Maturity, Credit Quality Indicator (Details)
Investment Securities - Gain (Loss) On Sale Of Afs Debt Securities (Details)
Investment Securities - Gross Unrealized Losses And Fair Value, Aggregated By Investment Category (Detail)
Investment Securities - Summary Of Amortized Cost And Approximate Fair Value Of Investment Securities (Detail)
Investment Securities - Summary Of Amortized Cost And Approximate Fair Value Of Investment Securities (Detail)
Investment Securities - Summary Of Available-For-Sale Debt Securities By Stated Maturity (Detail)
Investment Securities - Summary Of Held To Maturity Debt 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)
Loans Held For Sale - Narrative (Details)
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)
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)
Subsequent Events
Subsequent Events - Narrative (Details)
Ticker: CUBB
CIK: 1488813
Form Type: 10-Q Quarterly Report
Accession Number: 0001488813-22-000106
Submitted to the SEC: Tue Nov 08 2022 5:23:11 PM EST
Accepted by the SEC: Tue Nov 08 2022
Period: Friday, September 30, 2022
Industry: State Commercial Banks

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