Customers Bancorp, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
January 22, 2020 at 04:54 pm
Share
Customers Bancorp, Inc. announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced net interest income was USD 77.593 million compared to USD 61.524 million a year ago. Net income was USD 27.526 million compared to USD 17.862 million a year ago. Basic earnings per share was USD 0.76 compared to USD 0.45 a year ago. Diluted earnings per share was USD 0.75 compared to USD 0.44 a year ago. For the full year, net interest income was USD 277.310 million compared to USD 257.877 million a year ago. Net income was USD 79.327 million compared to USD 71.695 million a year ago. Basic earnings per share was USD 2.08 compared to USD 1.81 a year ago. Diluted earnings per share was USD 2.05 compared to USD 1.78 a year ago.
Customers Bancorp, Inc. is a bank holding company, which is engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides banking products, primarily loans and deposits, to businesses and consumers through its branches, limited production offices and administrative offices in Berks County and Southeastern Pennsylvania, New York, Hamilton, New Jersey, Boston, Massachusetts, and other geographies. The Bank administratively supports loans and other financial products, including equipment finance leases, to customers. It also offers venture banking loan portfolios. The Bank serves specialty businesses nationwide, including its commercial loans to mortgage companies, commercial equipment financing, SBA lending, specialty lending and consumer loans through relationships with fintech companies. The Bankâs specialty lending includes fund finance, real estate specialty finance, technology and venture, healthcare, and financial institutions group.
CUSTOMERS BANCORP, INC. 
