Customers Bancorp公布2026年二季度业绩，EPS小幅高于预期并重申全年指引

Customers Bancorp Reports Results for Second Quarter 2026
07/23/2026
16:30
WEST READING, Pa.--(BUSINESS WIRE)--
Customers Bancorp, Inc. (NYSE:CUBI):
Second Quarter 2026 Highlights
Q2 2026 net income available to common shareholders was $71.6 million, or $2.05 per diluted share; ROAA was 1.13% and ROCE was 13.22%.
Q2 2026 core earnings*
1
were $71.5 million, or $2.05 per diluted share; Core ROAA* was 1.13% and Core ROCE* was 13.20%.
Total deposits increased $140.3 million, or 0.6% in Q2 2026 from Q1 2026, and $2.8 billion, or 14.5% from Q2 2025 to a period end record level of $21.7 billion.
Total loans increased $623.8 million, or 3.6%, in Q2 2026 from Q1 2026, and $2.6 billion, or 16.9% from Q2 2025 to a period end record level of $18.0 billion.
Non-interest bearing deposits increased $174.1 million in Q2 2026 compared to Q1 2026 to a period end record level of $6.9 billion, or 31.8% of total deposits.
Q2 2026 efficiency ratio was 50.55% compared to Q2 2025 efficiency ratio of 51.23%, a decline of 68 basis points and Q2 2026 core efficiency ratio* was 50.55% compared to Q2 2025 core efficiency ratio* of 51.56%, a decline of 101 basis points.
____________________
* 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 are included at the end of this document.
Excludes pre-tax gains on investment securities of $0.1 million.
CEO Commentary
“I am pleased to share our second quarter 2026 results that show the company’s continued execution of its strategic priorities and underscore our success in growing franchise value,” said Customers Bancorp CEO Sam Sidhu.
“Artificial intelligence (“AI”) and automation continued to drive measurable transformative progress across the organization in the second quarter, with tangible results across productivity, revenue, and risk management. On the productivity front, we completed a pilot of our new AI-powered loan closing process, which included successfully closing selected commercial loans in seven days, down from 30 to 60 days typically, achieving this milestone one to two quarters ahead of schedule. We also saw positive revenue impact, with select verticals delivering over 100% improvement in prospecting success rates as AI enhanced our ability to identify and pursue the highest-quality opportunities. Finally, on risk management, we piloted AI-powered KYC screening and OFAC false-positive clearing, strengthening the consistency and defensibility of our compliance processes while freeing up capacity for higher-value work. Together, these results reflect the tangible, organization-wide progress we are making as we continue to scale AI across the bank.
Our cubiX payments platform also continued to scale, with cumulative network transaction volume surpassing $5 trillion in the quarter. We saw particularly strong momentum in our real estate vertical, which added $300 million in deposit balances in the quarter and has a nine figure pipeline per quarter through year end.
We continued to strategically and organically grow our loan and deposit portfolios with momentum throughout the organization. Total loans and leases grew by 3.6% in Q2 2026 compared to Q1 2026, with contributions from multiple verticals allowing us to deliver above industry average growth rates without sacrificing on structure or credit quality.
Total deposits increased by 0.6% in Q2 2026 compared to Q1 2026, and we delivered about $375 million of non-interest bearing deposit growth in Q2 2026 outside of our digital asset channel clients. Year to date our new commercial banking teams hired since Q2 2023 added approximately $570 million in deposits with 65% of the growth from non-interest bearing deposits. The growth continued to be granular as we had an increase of approximately 1,250 commercial accounts on a net basis, or a 5% increase in a single quarter, and the 2025 teams alone added 475 accounts in the quarter.
Our Q2 2026 GAAP earnings were $71.6 million, or $2.05 per diluted share, and core earnings* were $71.5 million, or $2.05 per diluted share. Asset quality remains strong with our NPA ratio at just 0.32% of total assets and reserve levels are robust at 293% of total non-performing loans at the end of Q2 2026. Our TCE / TA ratio* increased by 40 basis points from June 30, 2025 to 8.3% at June 30, 2026, while our balance sheet grew by 2.5% and we repurchased 92,804 shares of common stock at a weighted average price of $73.03 in the quarter.
In Q2 2026, we once again delivered exceptionally strong growth across key metrics of revenue, core earnings*, and book value per share of 10%, 14%*, and 16%, respectively, when compared to Q2 2025,” Sam Sidhu concluded.
Key Balance Sheet Trends
Loans and Leases Held for Investment
Loans and leases held for investment were a period end record $18.0 billion at June 30, 2026, up $585 million, or 3.4%, from March 31, 2026. C&I specialized lending increased by $253 million, or 3.4% quarter-over-quarter to $7.7 billion. Non-owner occupied commercial real estate loans increased by $145 million, or 8.3%, to $1.9 billion. Multifamily loans increased by $113 million, or 4.5%, to $2.6 billion. Other C&I loans increased by $100 million, or 10.0% to $1.1 billion. These increases were partially offset by a decrease in mortgage finance loans of $101 million, or 5.5% to $1.7 billion.
Loans and leases held for investment of $18.0 billion at June 30, 2026 were up $2.6 billion, or 16.8%, year-over-year. C&I specialized lending increased by $1.2 billion, or 18.5%, year-over-year. Non-owner occupied commercial real estate loans increased by $391 million, or 26.1%. Multifamily loans increased by $377 million, or 16.8%. Owner-occupied commercial real estate loans increased by $206 million, or 19.3%. Consumer installment loans increased by $138 million, or 17.1%. Construction loans increased by $118 million, or 119.9%. Mortgage finance loans increased by $104 million, or 6.4%.
Investment Securities
At June 30, 2026, total investment securities were $3.3 billion, an increase of $602 million compared to March 31, 2026 and an increase of $528 million compared to a year ago, driven primarily from purchases of agency MBS and CMO.
At June 30, 2026, the Available-For-Sale (“AFS”) debt securities portfolio had a spot yield of 5.14%, an effective duration of approximately 2.5 years, and approximately 35% are variable rate. Additionally, approximately 79% of the AFS securities portfolio was AAA rated at June 30, 2026.
At June 30, 2026, the Held-To-Maturity (“HTM”) debt securities portfolio represented only 2.4% of total assets, had a spot yield of 3.18% and an effective duration of approximately 4.2 years. Additionally, at June 30, 2026, approximately 70% of the HTM securities were AAA rated and $0.2 billion were credit enhanced asset backed securities with no current expectation of credit losses.
Deposits
Total deposits increased $140 million, or 0.6% to a period end record $21.7 billion at June 30, 2026 as compared to the prior quarter. The total average cost of deposits increased by 4 basis points to 2.50% in Q2 2026 from 2.46% in the prior quarter. Total estimated uninsured deposits were $7.6 billion
, or 35% of total deposits at June 30, 2026 with immediately available liquidity covering approximately 146% of these deposits.
Total deposits increased $2.8 billion, or 14.5% to $21.7 billion at June 30, 2026 as compared to a year ago. The total average cost of deposits decreased by 35 basis points to 2.50% in Q2 2026 from 2.85% in Q2 2025.
Borrowings
Total borrowings increased $428 million, or 22.5% to $2.3 billion at June 30, 2026 as compared to the prior quarter. This increase primarily resulted from net draws of $500 million in FHLB advances, partially offset by repayment of $70 million in federal funds purchased. Total borrowings increased $853 million, or 57.7%, to $2.3 billion at June 30, 2026 as compared to a year ago primarily due to net draws of $870 million in FHLB advances.
Uninsured deposits (estimate) of $9.7 billion to be reported on the Bank’s call report, less deposits of $1.7 billion collateralized by standby letters of credit from the FHLB and from our affiliates of $313 million.
Capital
Customers Bancorp’s common equity increased $61 million to $2.2 billion, and tangible common equity* increased $61 million to $2.2 billion, at June 30, 2026 compared to the prior quarter, respectively, primarily from earnings of $72 million, offset in part by $7 million of common share repurchase and an increase in AOCI of $4 million (net of taxes), mostly from increased unrealized losses on swaps designated as cash flow hedges. Customers Bancorp’s common equity increased $424 million to $2.2 billion, and tangible common equity* increased $424 million to $2.2 billion, at June 30, 2026 compared to a year ago, respectively, primarily from earnings of $291 million and the issuance of $163 million of common stock in September 2025, offset in part by $49 million of common share repurchases. Book value per common share increased to $65.31 from $63.64 and $56.36, and tangible book value per common share* increased to $65.20 from $63.54 and $56.24, at June 30, 2026 from March 31, 2026 and June 30, 2025, respectively.
Credit Quality
The provision for credit losses in Q2 2026 was $23 million, compared to $23 million in Q1 2026 and $21 million in Q2 2025.
Net charge-offs were $15 million in Q2 2026, compared to $13 million in Q1 2026 and Q2 2025.
The allowance for credit losses on loans and leases was $164 million at June 30, 2026, compared to $161 million at March 31, 2026 and $147 million at June 30, 2025.
Non-performing loans at June 30, 2026 increased to 0.31% of total loans and leases, compared to 0.27% at March 31, 2026 and 0.18% at June 30, 2025. Nonperforming loans include the guaranteed portion of SBA loans. As of June 30, 2026, nonperforming loans totaled $56 million, of which approximately $12 million represents the government-guaranteed portion. Excluding the government-guaranteed portion, nonperforming loans totaled approximately $44 million, representing 0.24% of total loans and leases.
Key Profitability Trends
Net Interest Income
Net interest income totaled $193.4 million in Q2 2026, an increase of $2.0 million from Q1 2026. This increase was driven by an increase in interest income mainly from C&I specialized lending, partially offset by an increase in interest expense primarily due to a shift in deposit mix and net draws of FHLB advances.
“Net interest income increased 9% year-over-year in the second quarter of 2026. As we previously communicated, we expect the second quarter to represent the trough in our net interest margin, with a rebound to roughly Q1 2026 levels in Q3 2026 and additional expansion in Q4 2026. This trajectory is driven by expected continued low-cost deposit gathering and robust loan growth,” stated Customers Bancorp CFO Mark McCollom.
Net interest income totaled $193.4 million in Q2 2026, an increase of $16.7 million from Q2 2025. This increase was primarily due to higher interest income mainly from C&I specialized lending.
Non-Interest Income
Reported non-interest income totaled $34.0 million for Q2 2026, a decrease of $0.3 million compared to $34.3 million for Q1 2026. The slight decrease was primarily due to decreases of $1.8 million in loan fees mainly from lower gains on stock warrants and $0.9 million in bank-owned life insurance due to lower death benefits. These decreases were partially offset by an increase of $2.6 million in other non-interest income mainly due to a decrease in loss on equity investments and an increase in income from supplemental executive retirement plan (SERP) assets and derivatives.
Non-interest income totaled $34.0 million for Q2 2026, an increase of $4.4 million compared to Q2 2025. The increase was primarily due to increases in commercial lease income of $4.3 million and $1.1 million in net gain on sale of loans and leases mainly from the sale of SBA loans, and $1.8 million of net loss on sale of investment securities in Q2 2025, partially offset by a decrease of $2.6 million in other non-interest income primarily from $1.8 million of fees associated with the sunsetting of a loan origination program with a fintech company in Q2 2025.
Non-Interest Expense
Non-interest expenses totaled $114.9 million in Q2 2026, an increase of $2.9 million compared to Q1 2026. The increase was primarily attributable to increases of $4.7 million in salaries and employee benefits mainly due to annual merit increases, higher headcount, $1.0 million in severance expense and higher SERP liability, $1.2 million in technology, communication and bank operations mainly for software and $2.8 million in other non-interest expenses mainly for business development, non-capitalizable loan origination expenses and provision for unfunded lending-related commitments, partially offset by decreases of $3.6 million in FDIC assessments, non-income taxes and regulatory fees and $1.7 million in professional fees.
“In Q2 2026, we had $1.0 million of severance expense and even with this impact, we continued to demonstrate strong expense discipline while investing in our future. We successfully achieved our upsized operational excellence goal of $30 million in annual run rate revenue enhancements and expense savings providing capacity for further investment in the franchise. Importantly we are driving significant positive operating leverage with core revenue* growth of 13% and core expense* growth of only 8% in the six months ended June 30, 2026 compared to 2025. This drove an approximately 200 basis point decline in our core efficiency ratio* over that same time period,” stated Mark McCollom.
Non-interest expenses totaled $114.9 million in Q2 2026, an increase of $8.3 million compared to Q2 2025. The increase was primarily attributable to increases of $10.2 million in salaries and employee benefits and $4.0 million in commercial lease depreciation associated with the Bank’s continued growth, $2.5 million in technology, communication and bank operations mainly for software and processing fees, and $3.1 million in other non-interest expenses mainly due to business development and non-capitalizable loan origination expenses. These increases were partially offset by decreases of $7.3 million in FDIC assessments, non-income taxes and regulatory fees and $3.8 million in professional fees.
Taxes
Income tax expense was $17.9 million in Q2 2026, down from $20.7 million in Q1 2026 and slightly lower than $18.0 million in Q2 2025. The decrease reflects favorable permanent tax differences, partly offset by higher state and local income tax expense. The effective tax rate was 20% for Q2 2026.
Outlook
“We were very pleased with the start to 2026 and remain focused on executing in those areas which differentiate us from our peers. We believe that truly exceptional service, sophisticated product offerings, recruitment of top talent, exceptional payment capabilities, and a single point of contact service model will deliver sustainable long-term growth. We are reaffirming our full-year 2026 guidance across all metrics.
We expect to continue to execute across the company’s four top priorities for 2026. First, on AI and automation, we expect to see meaningful progress on our “top down” priorities including broad deployment of the seven day loan closing agentic tool, onboarding complex commercial deposit accounts in minutes not hours, and launching new business lines in our payment vertical. We also expect further benefits from “bottoms up” use cases as they drive increased revenue and improved productivity through team member hours saved. Second, we expect our payments capabilities to continue to expand, driven by the new industries and use cases we are serving and by strengthening relationships with existing clients through expanded product offerings. Third, we are confident in our ability to continue to deliver above industry average loan and deposit portfolio growth and build upon our successful team recruitment strategy. And fourth, we will seek to accomplish these initiatives while operating with a high standard of regulatory and risk management excellence and maintaining a strong capital base, liquidity, and credit quality.
We believe we are incredibly well positioned to continue to achieve these goals and deliver excellent client service and strong financial performance in 2026 and beyond,” concluded Sam Sidhu.
Webcast
Date:
Friday, July 24, 2026
Time:
9:00 AM EDT
The live audio webcast, presentation slides, and earnings press release will be made available at
https://www.customersbank.com
and at the Customers Bancorp 2nd Quarter Earnings Webcast.
You may submit questions in advance of the live webcast by emailing our Chief Marketing Officer, Laura Vele at
[email protected]
.
The webcast will be archived for viewing on the Customers Bank Investor Relations page and available beginning approximately two hours after the conclusion of the live event.
Institutional Background
Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation’s top-performing banking companies with approximately $27 billion in assets making it one of the 80 largest bank holding companies in the U.S. Customers Bank’s commercial and consumer clients benefit from a full suite of technology-enabled tailored product experiences delivered by best-in-class customer service distinguished by a Single Point of Contact approach. In addition to traditional lines such as C&I, commercial real estate, and residential and personal lending, Customers Bank also provides a number of national corporate banking services to clients in businesses including: fund finance, venture banking, healthcare, mortgage finance, and equipment finance. Major accolades include:
Named a Top 10 Performing Bank by American Banker for five consecutive years (2021-2025), including the #1 spot in 2024 among midsize banks ($10B to $50B in assets)
No. 45 out of the 100 largest publicly traded banks in 2026 Forbes Best Banks list
Net Promoter Score of 81 compared to industry average of 41
A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender. Learn more:
www.customersbank.com.
“Safe Harbor” Statement
In addition to historical information, this press release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to Customers Bancorp, Inc.’s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by, or that include the words “may,” “could,” “should,” “pro forma,” “looking forward,” “would,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “project,” or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Customers Bancorp, Inc.’s control). Numerous competitive, economic, regulatory, legal and technological events and factors, among others, could cause Customers Bancorp, Inc.’s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements, including: a continuation of the recent turmoil in the banking industry, responsive measures taken by us and regulatory authorities to mitigate and manage related risks, regulatory actions taken that address related issues and the costs and obligations associated therewith, such as the FDIC special assessments; the potential for negative consequences resulting from regulatory violations, investigations and examinations, including potential supervisory actions, the assessment of fines and penalties, the imposition of sanctions, the need to undertake remedial actions and possible damage to our reputation; effects of competition on deposit rates and growth, loan rates and growth and net interest margin; failure to identify and adequately and promptly address cybersecurity risks, including data breaches and cyberattacks; public health crises and pandemics and their effects on the economic and business environments in which we operate; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism and military conflicts, including the war between Russia and Ukraine and ongoing conflict in the Middle East, which could impact economic conditions in the United States; the impact that changes in the economy have on the performance of our loan and lease portfolio, the market value of our investment securities, the demand for our products and services and the availability of sources of funding; the effects of actions by the federal government, including the Board of Governors of the Federal Reserve System and other government agencies, that affect market interest rates and the money supply; actions that we and our customers take in response to these developments and the effects such actions have on our operations, products, services and customer relationships; higher inflation and its impacts; the effects of changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs on its trading partners; and the effects of any changes in accounting standards or policies. Customers Bancorp, Inc. cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review Customers Bancorp, Inc.’s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K for the year ended December 31, 2025, subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K, including any amendments thereto, that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. Customers Bancorp, Inc. does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by Customers Bancorp, Inc. or by or on behalf of Customers Bank, except as may be required under applicable law.
CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
FINANCIAL HIGHLIGHTS - UNAUDITED
(Dollars in thousands, except per share data)
Q2
Q1
Q4
Q3
Six Months Ended June 30,
2026
2025
GAAP Profitability Metrics:
Net income available to common shareholders
$
71,560
69,653
70,088
73,726
55,846
141,213
65,369
Per share amounts:
Earnings per share - diluted
2.05
1.97
1.98
2.20
1.73
4.02
2.02
Book value per common share
65.31
63.64
61.87
59.83
56.36
Return on average assets (“ROAA”)
1.13
%
1.20
1.26
1.09
0.67
Return on average common equity (“ROCE”)
13.22
13.16
13.28
15.57
12.79
13.19
7.57
Net interest margin, tax equivalent
3.17
3.22
3.40
3.46
3.27
3.19
3.20
Efficiency ratio
50.55
49.68
49.52
45.39
51.23
50.12
52.06
Non-GAAP Profitability Metrics
(1)
:
Core earnings
71,457
69,445
72,851
73,473
58,147
140,902
108,149
Core earnings per share - diluted
2.06
1.80
4.01
3.33
Tangible book value per common share
65.20
63.54
61.77
59.72
56.24
Core ROAA
1.19
1.25
1.10
1.04
Core ROCE
13.20
13.12
13.81
15.52
13.32
12.53
Core efficiency ratio
45.40
51.56
52.11
Balance Sheet Trends:
Total assets
26,520,789
25,880,767
24,895,868
24,260,163
22,550,800
Total cash and investment securities
7,437,163
7,454,901
7,078,243
6,997,783
6,234,043
Total loans and leases
18,015,300
17,391,546
16,782,516
16,303,147
15,412,400
Non-interest bearing demand deposits
6,913,804
6,739,713
6,303,748
6,380,879
5,481,065
Total deposits
21,732,897
21,592,645
20,778,704
20,405,023
18,976,018
Asset Quality:
Net charge-offs
14,579
13,255
13,749
15,371
13,115
27,834
30,259
Annualized net charge-offs to average total loans and leases
0.34
0.32
0.33
0.39
0.35
0.41
Nonaccrual / non-performing loans (“NPLs”)
56,022
47,818
43,688
28,421
28,443
NPLs to total loans and leases
0.31
0.27
0.26
0.17
0.18
Reserves to NPLs
292.93
336.61
356.29
534.14
518.29
Non-performing assets (“NPAs”)
85,661
74,737
72,344
61,057
60,778
NPAs to total assets
0.29
0.25
FINANCIAL HIGHLIGHTS - UNAUDITED (CONTINUED)
Capital Metrics:
Common equity to total assets
8.3
8.5
8.4
7.9
Tangible common equity to tangible assets
Common equity Tier 1 capital ratio
(2)
12.8
12.89
12.99
13.00
12.05
Total risk based capital ratio
14.8
14.88
15.39
15.35
14.49
Customers Bank Capital Ratios
Common equity Tier 1 capital to risk-weighted assets
13.5
13.78
13.25
Total capital to risk-weighted assets
14.5
14.77
14.62
14.60
14.43
Tier 1 capital to average assets (leverage ratio)
9.3
9.37
8.90
8.84
8.86
9.4
Share amounts:
Average shares outstanding - basic
33,796,369
34,080,834
34,170,777
32,340,813
31,585,390
33,937,816
31,516,887
Average shares outstanding - diluted
34,905,731
35,313,835
35,396,324
33,460,055
32,374,061
35,108,656
32,431,995
Shares outstanding
33,772,598
33,692,632
34,191,223
34,163,506
31,606,934
Customers’ reasons for the use of these non-GAAP measures and a detailed reconciliation between the non-GAAP measures and the comparable GAAP amounts are included at the end of this document.
Regulatory capital ratios are estimated for Q2 2026 and actual for the remaining periods.
CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
Six Months Ended
June 30,
Interest income:
Loans and leases
268,628
258,734
274,752
272,131
246,869
527,362
477,877
Investment securities
34,727
32,141
31,979
36,091
37,381
66,868
71,720
Interest earning deposits
37,628
41,830
44,862
49,639
39,972
79,458
82,886
Loans held for sale
1,280
1,235
1,432
1,589
1,806
2,515
6,567
Other
2,394
2,372
2,173
2,029
1,973
4,766
3,860
Total interest income
344,657
336,312
355,198
361,479
328,001
680,969
642,910
Interest expense:
130,296
126,126
131,797
141,983
134,045
256,422
265,353
FHLB advances
17,109
12,935
14,490
12,945
12,717
30,044
24,518
Subordinated debt
2,723
4,621
3,355
3,251
3,229
7,344
6,441
Federal funds purchased
99
13
—
112
Other borrowings
1,064
1,266
1,128
1,388
1,307
2,330
2,449
Total interest expense
151,291
144,961
150,770
159,567
151,298
296,252
298,761
Net interest income
193,366
191,351
204,428
201,912
176,703
384,717
344,149
Provision for credit losses
23,067
23,372
22,337
26,543
20,781
46,439
49,078
Net interest income after provision for credit losses
170,299
167,979
182,091
175,369
155,922
338,278
295,071
Non-interest income:
Commercial lease income
15,392
15,418
14,186
11,536
11,056
30,810
21,724
Loan fees
8,673
10,506
7,420
11,443
9,106
19,179
16,341
Bank-owned life insurance
2,213
3,084
2,189
2,165
2,249
5,297
6,909
Mortgage finance transactional fees
1,332
1,306
1,339
1,298
1,175
2,638
2,108
Net gain (loss) on sale of loans and leases
1,061
1,044
(62
)
2,105
2
Net gain (loss) on sale of investment securities
154
355
(27
186
(1,797
509
Impairment loss on debt securities
(51,319
5,218
2,603
7,471
3,563
7,817
7,821
11,148
Total non-interest income
34,043
34,316
32,516
30,191
29,606
68,359
5,116
Non-interest expense:
Salaries and employee benefits
56,037
51,294
51,744
48,723
45,848
107,331
88,522
Technology, communication and bank operations
12,891
11,643
11,388
10,415
10,382
24,534
21,694
Commercial lease depreciation
12,761
12,692
11,668
9,463
8,743
25,453
17,206
Professional services
10,024
11,695
12,390
12,281
13,850
21,719
25,707
Loan servicing
3,710
3,859
4,050
4,167
4,053
7,569
8,683
Occupancy
3,495
3,956
4,291
4,370
3,551
7,451
6,963
FDIC assessments, non-income taxes and regulatory fees
4,585
8,215
9,023
8,505
11,906
12,800
23,656
Advertising and promotion
481
554
812
636
461
1,035
989
10,907
8,080
11,943
6,657
7,832
18,987
15,977
Total non-interest expense
114,891
111,988
117,309
105,217
106,626
226,879
209,397
Income before income tax expense
89,451
90,307
97,298
100,343
78,902
179,758
90,790
Income tax expense
17,891
20,654
22,806
24,598
17,963
38,545
16,939
Net income
74,492
75,745
60,939
73,851
Preferred stock dividends
1,605
2,019
3,185
6,574
Loss on redemption of preferred stock
2,799
1,908
Basic earnings per common share
2.12
2.04
2.28
1.77
4.16
2.07
Diluted earnings per common share
CONSOLIDATED BALANCE SHEET - UNAUDITED
(Dollars in thousands)
March 31,
December 31,
September 30,
ASSETS
Cash and due from banks
85,546
89,153
62,051
57,951
72,986
4,093,306
4,709,051
4,349,412
4,127,688
3,430,525
Cash and cash equivalents
4,178,852
4,798,204
4,411,463
4,185,639
3,503,511
Investment securities, at fair value
2,626,717
1,993,152
1,937,646
2,010,820
1,877,406
Investment securities held to maturity
631,594
663,545
729,134
801,324
853,126
58,611
20,282
26,102
30,897
32,963
Loans and leases receivable
16,217,068
15,519,493
15,041,340
14,673,636
13,719,829
Loans receivable, mortgage finance, at fair value
1,654,795
1,758,685
1,612,997
1,486,978
1,536,254
Loans receivable, installment, at fair value
84,826
93,086
102,077
111,636
123,354
Allowance for credit losses on loans and leases
(164,106
(160,962
(155,656
(151,809
(147,418
Total loans and leases receivable, net of allowance for credit losses on loans and leases
17,792,583
17,210,302
16,600,758
16,120,441
15,232,019
FHLB, Federal Reserve Bank, and other restricted stock
144,971
117,880
110,411
103,290
100,590
Accrued interest receivable
103,125
105,002
103,626
106,379
101,481
Bank premises and equipment, net
19,773
15,749
16,745
15,340
5,978
310,312
306,927
305,503
303,212
300,747
Other real estate owned
12,568
12,506
12,432
12,306
Goodwill and other intangibles
3,629
Other assets
638,054
633,589
638,419
566,760
527,044
LIABILITIES AND SHAREHOLDERS’ EQUITY
Demand, non-interest bearing deposits
Interest bearing deposits
14,819,093
14,852,932
14,474,956
14,024,144
13,494,953
70,000
2,059,163
1,561,655
1,325,068
1,195,437
1,195,377
99,278
99,243
99,208
99,173
99,138
171,741
171,614
281,147
182,718
182,649
Accrued interest payable and other liabilities
252,018
241,310
296,224
251,753
234,060
Total liabilities
24,315,097
23,736,467
22,780,351
22,134,104
20,687,242
Preferred stock
82,201
Common stock
36,485
36,312
36,189
36,161
36,123
Additional paid in capital
669,114
669,112
666,756
662,252
572,473
Retained earnings
1,676,407
1,604,847
1,535,194
1,465,106
1,391,380
Accumulated other comprehensive income (loss), net
(58,346
(54,657
(54,050
(51,089
(71,325
Treasury stock, at cost
(117,968
(111,314
(68,572
(147,294
Total shareholders’ equity
2,205,692
2,144,300
2,115,517
2,126,059
1,863,558
Total liabilities and shareholders’ equity
AVERAGE BALANCE SHEET / NET INTEREST MARGIN - UNAUDITED
Three Months Ended
June 30, 2026
March 31, 2026
June 30, 2025
Average Balance
Interest Income or Expense
Average Yield or Cost (%)
Assets
4,064,683
3.66
4,492,897
3.78
3,565,168
4.50
2,982,966
4.66
2,735,786
4.70
2,890,878
5.19
Loans and leases:
Commercial & industrial:
Specialized lending loans and leases
8,274,803
139,664
6.77
7,863,238
132,861
6.85
6,785,684
126,854
7.50
Other commercial & industrial loans
1,478,857
22,160
6.01
1,450,962
24,202
6.76
1,484,528
25,862
6.99
Mortgage finance loans
1,590,328
17,078
4.31
1,513,914
16,250
4.35
1,501,484
18,349
4.90
Multifamily loans
2,492,956
29,118
4.68
2,494,849
28,249
4.59
2,317,381
25,281
4.38
Non-owner occupied commercial real estate loans
2,003,968
29,842
5.97
1,907,541
27,711
5.89
1,581,087
23,003
5.84
Residential mortgages
527,816
6,265
4.75
524,282
6,240
4.77
537,008
6,344
4.74
Installment loans
947,935
25,781
10.91
912,090
24,456
10.87
879,972
22,982
10.48
(3)
17,316,663
269,908
6.25
16,666,876
259,969
6.32
15,087,144
248,675
6.61
Other interest-earning assets
174,621
5.50
156,894
6.13
133,824
5.91
Total interest-earning assets
24,538,933
5.62
24,052,453
5.66
21,677,014
6.07
Non-interest-earning assets
828,466
868,524
685,975
25,367,399
24,920,977
22,362,989
Liabilities
Interest checking accounts
5,075,436
41,077
3.25
4,993,616
40,023
4,935,587
47,245
3.84
Money market deposit accounts
4,593,765
39,880
3.48
4,364,149
36,640
4,137,035
40,397
3.92
Other savings accounts
1,655,029
13,943
3.38
1,579,730
13,580
3.49
1,325,639
12,767
3.86
Certificates of deposit
3,438,721
35,396
4.13
3,456,664
35,883
4.21
2,852,645
33,636
4.73
Total interest-bearing deposits
(4)
14,762,951
3.54
14,394,159
3.55
13,250,906
4.06
10,659
3.75
1,367
3.73
1,989,478
20,896
1,712,498
18,822
4.46
1,417,370
17,253
4.88
Total interest-bearing liabilities
16,763,088
3.62
16,108,024
3.65
14,668,276
4.14
Non-interest-bearing deposits
6,183,251
6,393,947
5,593,581
Total deposits and borrowings
22,946,339
2.64
22,501,971
2.61
20,261,857
2.99
Other non-interest-bearing liabilities
249,563
272,488
221,465
23,195,902
22,774,459
20,483,322
Shareholders’ equity
2,171,497
2,146,518
1,879,667
Tax-equivalent adjustment
790
257
366
Net interest earnings
194,156
191,608
177,069
Interest spread
2.98
3.05
3.07
Net interest margin
3.15
Net interest margin tax equivalent
(5)
For presentation in this table, average balances and the corresponding average yields for investment securities are based upon historical cost, adjusted for amortization of premiums and accretion of discounts.
Includes owner occupied commercial real estate loans.
Includes non-accrual loans, the effect of which is to reduce the yield earned on loans and leases, and deferred loan fees.
Total costs of deposits (including interest bearing and non-interest bearing) were 2.50%, 2.46% and 2.85% for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively.
Tax-equivalent basis, using an estimated marginal tax rate of 21% for the three months ended June 30, 2026 and March 31, 2026 and 26% for the three months ended June 30, 2025, presented to approximate interest income as a taxable asset.
AVERAGE BALANCE SHEET / NET INTEREST MARGIN - UNAUDITED (CONTINUED)
4,278,663
3.69
3,710,585
2,860,058
2,995,074
4.83
8,070,098
272,525
6.81
6,630,720
247,805
7.54
1,465,556
46,362
6.38
1,513,526
49,795
6.63
1,552,332
33,328
4.33
1,377,730
33,101
4.85
2,493,897
57,367
4.64
2,295,757
48,945
4.30
1,956,021
57,553
5.93
1,565,815
44,567
5.74
526,065
12,505
4.76
533,828
12,572
930,112
50,237
10.90
908,922
47,659
10.57
16,994,081
529,877
6.29
14,826,298
484,444
6.59
165,796
5.80
130,825
5.95
24,298,598
5.64
21,662,782
5.98
846,849
676,326
25,145,447
22,339,108
5,034,752
81,100
5,145,729
97,148
3.81
4,479,969
76,520
3.44
4,010,647
78,164
3.93
1,617,588
27,523
3.43
1,239,021
23,458
3.82
3,447,665
71,279
4.17
2,801,467
66,583
4.79
14,579,974
13,196,864
4.05
6,039
1,851,753
39,718
1,382,349
33,408
4.87
16,437,766
3.63
14,579,213
6,288,017
5,651,789
22,725,783
2.63
20,231,002
260,535
233,891
22,986,318
20,464,893
2,159,129
1,874,215
1,047
729
385,764
344,878
3.01
3.00
3.18
Total costs of deposits (including interest bearing and non-interest bearing) were 2.48% and 2.84% for the six months ended June 30, 2026 and 2025, respectively.
Tax-equivalent basis, using an estimated marginal tax rate of 21% for the six months ended June 30, 2026 and 26% for the six months ended June 30, 2025, presented to approximate interest income as a taxable asset.
PERIOD END LOAN AND LEASE COMPOSITION - UNAUDITED
Loans and leases held for investment
Commercial:
Specialized lending
7,650,758
7,398,205
7,090,087
7,083,620
6,454,661
Other commercial & industrial
1,103,797
1,003,750
1,033,704
1,056,173
1,037,684
Mortgage finance
1,730,041
1,831,408
1,700,380
1,577,038
1,625,764
Multifamily
2,623,964
2,510,697
2,490,336
2,356,590
2,247,282
Commercial real estate owner occupied
1,270,575
1,279,501
1,135,119
1,058,741
1,065,006
Commercial real estate non-owner occupied
1,888,040
1,742,989
1,738,821
1,582,332
1,497,385
Construction
216,832
204,999
162,966
123,290
98,626
Total commercial loans and leases
16,484,007
15,971,549
15,351,413
14,837,784
14,026,408
Consumer:
Residential
508,187
495,458
497,567
514,544
520,570
Manufactured housing
24,763
26,065
27,452
28,749
30,287
Installment:
Personal
647,149
599,302
581,340
570,768
457,728
292,583
278,890
298,642
320,405
344,444
Total installment loans
939,732
878,192
879,982
891,173
802,172
Total consumer loans
1,472,682
1,399,715
1,405,001
1,434,466
1,353,029
Total loans and leases held for investment
17,956,689
17,371,264
16,756,414
16,272,250
15,379,437
4,700
2,528
1,767
1,851
2,229
5,180
53,101
17,056
23,357
23,728
27,682
2,982
1,459
894
240
101
56,083
18,515
24,251
23,968
27,783
26,197
Total loans held for sale
Total loans and leases portfolio
PERIOD END DEPOSIT COMPOSITION - UNAUDITED
Demand, non-interest bearing
Demand, interest bearing
5,107,649
5,085,040
5,049,151
5,050,437
4,912,839
Total demand deposits
12,021,453
11,824,753
11,352,899
11,431,316
10,393,904
Savings
1,555,932
1,742,652
1,731,010
1,554,533
1,375,072
Money market
4,592,851
4,604,981
4,398,827
4,339,371
4,206,516
Time deposits
3,562,661
3,420,259
3,295,968
3,079,803
3,000,526
ASSET QUALITY - UNAUDITED
As of June 30, 2026
As of March 31, 2026
As of June 30, 2025
Loan type
Total loans
Allowance for credit losses
Total reserves to total loans
Commercial & industrial, including specialized lending
8,829,801
40,158
0.45
8,474,678
41,214
0.49
7,581,855
36,262
0.48
29,324
1.12
19,441
0.77
20,864
0.93
10,226
0.80
10,556
0.83
12,514
1.18
13,503
0.72
18,470
1.06
20,679
1.38
2,803
1.29
2,672
1.30
2,160
2.19
Total commercial loans and leases receivable
14,829,212
96,014
0.65
14,212,864
92,353
12,490,154
92,479
0.74
6,251
1.23
5,713
1.15
6,331
1.22
3,244
13.10
3,338
12.81
3,721
12.29
Installment
854,906
58,597
785,106
59,558
7.59
678,818
44,887
Total consumer loans receivable
1,387,856
68,092
4.91
1,306,629
68,609
5.25
1,229,675
54,939
4.47
Loans and leases receivable held for investment
164,106
1.01
160,962
147,418
1.07
0.91
0.96
ASSET QUALITY - UNAUDITED (CONTINUED)
Non accrual /NPLs
Total NPLs to total loans
Total reserves to total NPLs
22,828
175.92
18,588
0.22
221.72
4,218
0.06
859.70
14,205
0.54
206.43
9,090
0.36
213.87
5,692
179.66
5,740
183.90
7,005
0.66
178.64
135
0.01
10002.22
13681.48
62
0.00
33353.23
42,860
224.02
33,553
0.24
275.25
11,285
0.09
819.49
6,740
1.33
92.74
7,509
1.52
76.08
8,234
1.58
76.89
4.23
309.84
1,143
4.39
292.04
1,608
5.31
231.41
4,075
1437.96
3,736
1594.16
4,944
0.73
907.91
11,862
0.85
574.03
12,388
0.95
553.83
14,786
371.56
54,722
299.89
45,941
0.30
350.37
26,071
0.19
565.45
1,231
1.45
1,626
1.75
1,961
1.59
69
0.12
251
1.24
411
NET CHARGE-OFFS/(RECOVERIES) - UNAUDITED
2,648
2,576
1,620
2,180
3,871
5,224
7,102
4,880
2,630
4,612
7,510
3,834
(332
(5
(40
335
(337
427
(225
3,073
(3
(6
20
16
25
(4
7,363
8,054
7,766
9,758
8,840
15,417
18,906
Total net charge-offs (recoveries) from loans held for investment
LOANS AND LEASES RISK RATINGS - UNAUDITED
risk ratings:
Commercial loans and leases
Pass
14,434,943
13,803,943
13,316,507
12,927,467
12,047,656
Special Mention
132,704
159,714
216,462
187,794
174,587
Substandard
257,517
245,028
200,779
230,079
256,849
14,825,164
14,208,685
13,733,748
13,345,340
12,479,092
Consumer loans
Performing
1,375,438
1,294,311
1,287,408
1,308,987
1,209,377
Non-performing
12,418
12,318
15,516
13,843
20,298
1,302,924
1,322,830
16,213,020
15,515,314
15,036,672
14,668,170
13,708,767
Risk ratings are assigned to loans and leases held for investment, and excludes loans held for sale, loans receivable, mortgage finance, at fair value, loans receivable, installment, at fair value and eligible PPP loans that are fully guaranteed by the Small Business Administration.
RECONCILIATION OF GAAP TO NON-GAAP MEASURES - UNAUDITED
We believe that the non-GAAP measurements disclosed within this document are useful for investors, regulators, management and others to evaluate our core results of operations and financial condition relative to other financial institutions. These non-GAAP financial measures are frequently used by securities analysts, investors, and other interested parties in the evaluation of companies in our industry. These non-GAAP financial measures exclude from corresponding GAAP measures the impact of certain elements that we do not believe are representative of our ongoing financial results, which we believe enhance an overall understanding of our performance and increases comparability of our period to period results. Investors should consider our performance and financial condition as reported under GAAP and all other relevant information when assessing our performance or financial condition. The non-GAAP measures presented are not necessarily comparable to non-GAAP measures that may be presented by other financial institutions. Although non-GAAP financial measures are frequently used in the evaluation of a company, they have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results of operations or financial condition as reported under GAAP. Starting in Q3 2025, certain adjustments to GAAP measures were no longer included as our intention going forward is to limit these adjustments to those items of greatest significance.
The following tables present reconciliations of GAAP to non-GAAP measures disclosed within this document.
Core Earnings - Customers Bancorp
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
USD
Per share
GAAP net income to common shareholders
Reconciling items (after tax):
39,875
(Gains) losses on investment securities
(103
(208
(0.01
(36
(253
0.04
(311
1,264
Derivative credit valuation adjustment
210
0.08
Unrealized (gain) loss on loans held for sale
(223
295
Loan program termination fees
(772
(0.02
Core Return on Average Assets - Customers Bancorp
GAAP net income
74,456
75,492
61,332
114,723
Average total assets
24,721,373
23,930,723
Core return on average assets
Core Return on Average Common Equity - Customers Bancorp
Average total common shareholders’ equity
2,093,510
1,878,115
1,751,037
1,741,029
Core return on average common equity
Core Efficiency Ratio - Customers Bancorp
GAAP net interest income
GAAP non-interest income (loss)
(130
(269
(47
(334
1,797
(399
1,637
270
(289
378
51,319
(1,000
Core non-interest income
33,913
34,047
32,469
29,857
30,114
67,960
57,720
Core revenue
227,279
225,398
236,897
231,769
206,817
452,677
401,869
GAAP non-interest expense
Core non-interest expense
Core efficiency ratio calculated as core non-interest expense divided by core revenue.
Tangible Common Equity to Tangible Assets - Customers Bancorp
GAAP total shareholders’ equity
Reconciling items:
(82,201
(3,629
Tangible common equity
2,202,063
2,140,671
2,111,888
2,040,229
1,777,728
GAAP total assets
Tangible assets
26,517,160
25,877,138
24,892,239
24,256,534
22,547,171
Tangible Book Value per Common Share - Customers Bancorp
(Dollars in thousands, except share and per share data)
Reconciling Items:
Common shares outstanding
Laura Vele, Chief Marketing Officer 646-315-2017
Source: Customers Bancorp, Inc.