Customers Bancorp Reports Results for First Quarter 2026

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Key Terms

roaa financial

Return on Average Assets (ROAA) measures how efficiently a company turns its assets into profit by dividing net profit over a period by the average total assets it held during that period. It matters to investors because it shows whether a business is getting a good return from what it owns—like judging a car’s fuel efficiency by miles per gallon—helping compare profitability across companies of different sizes.

roce financial

ROCE (return on capital employed) measures how much profit a company earns for each dollar of capital put into the business, comparing operating profit to the total funds used to run the company. Investors use it like a production efficiency score — similar to measuring how much fruit a tree yields compared with the cost to plant and care for it — to judge how well management turns invested money into returns and to compare companies of different sizes.

non-interest bearing deposits financial

Non-interest bearing deposits are customer funds held at a bank or financial institution that do not earn interest for the depositor, such as many checking accounts. They matter to investors because they act like a low-cost, stable source of funding for the bank—similar to a no-fee loan—helping boost profit margins and reduce funding risk, so changes in their level can directly affect a bank’s profitability and liquidity.

available-for-sale financial

A classification for bonds, stocks or other investments that a company plans to keep but might sell before they reach full term. Think of it like items a shop keeps on a shelf for potential sale: their market value can go up or down while the company holds them, and those unrealized gains or losses are shown separately from operating profit until they are sold. Investors watch this because large swings can change a company’s reported net worth and signal how much flexibility it has to raise cash quickly.

held-to-maturity financial

A held-to-maturity asset is a debt investment a company plans and is able to keep until the loan or bond reaches its scheduled end, when the principal is repaid. For investors, this classification matters because the holder treats the investment like a locked-in loan—avoiding short-term price swings in financial statements and signaling a steady income expectation, similar to lending money to a friend with a fixed repayment date.

fhlb advances financial

FHLB advances are loans that member banks and credit unions borrow from one of the regional Federal Home Loan Banks, using mortgages or other eligible assets as collateral. They matter to investors because these advances provide a reliable source of funding that affects a lender’s liquidity, borrowing costs and balance-sheet risk — like a neighborhood credit cooperative loan that helps a business cover shortfalls or finance growth without selling its assets.

non-performing loans financial

Loans on a bank’s books where the borrower has stopped making scheduled payments for a prolonged period (commonly about 90 days), so the lender no longer expects full repayment on time. Think of them as overdue IOUs that may never be paid back; a rising level of such loans weakens a lender’s earnings and balance sheet, signals greater credit risk in the economy, and can hurt investors through lower dividends, loan losses, or declines in the lender’s stock value.

net interest income financial

Net interest income is the difference between the interest a financial institution earns on loans and investments and the interest it pays on deposits and borrowings. It matters to investors because it is a primary source of profit for banks and similar firms — like the gross margin on a store’s trade — and changes with loan growth, deposit costs and interest rates, so it signals core earning power and sensitivity to rate moves.

04/23/2026 - 04:30 PM

WEST READING, Pa.--(BUSINESS WIRE)-- Customers Bancorp, Inc. (NYSE:CUBI):

First Quarter 2026 Highlights

Q1 2026 net income available to common shareholders was $69.7 million, or $1.97 per diluted share; ROAA was 1.13% and ROCE was 13.16%.
Q1 2026 core earnings*¹ were $69.4 million, or $1.97 per diluted share; Core ROAA* was 1.13% and Core ROCE* was 13.12%.
Total deposits increased $813.9 million, or 3.9% in Q1 2026 from Q4 2025, and $2.7 billion, or 14.0% from Q1 2025.
Total loans increased $609.0 million, or 3.6%, in Q1 2026 from Q4 2025, and $2.3 billion, or 15.2% from Q1 2025.
Non-interest bearing deposits increased $436.0 million in Q1 2026 compared to Q4 2025 to a period end record level of $6.7 billion, or 31.2% of total deposits.
Q1 2026 efficiency ratio was 49.68% compared to Q1 2025 efficiency ratio of 52.94%, a decline of 326 basis points and Q1 2026 core efficiency ratio* was 49.68% compared to Q1 2025 core efficiency ratio* of 52.69%, a decline of 301 basis points.

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*		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.
¹		Excludes pre-tax gains on investment securities of $0.3 million.

CEO Commentary

“On January 1, 2026, I had the honor of succeeding Jay Sidhu as Chief Executive Officer of Customers Bancorp. This transition was the culmination of a deliberate, multiyear transition that our Board and leadership team planned carefully to ensure continuity for our clients, our team members and our shareholders,” said Customers Bancorp CEO Sam Sidhu.

“I am pleased to share our first quarter 2026 results that show the company’s continued execution of its strategic priorities and underscore our success in growing franchise value.”

“We got off to a strong start to the year in what is typically a slower quarter, as we continued to strategically grow our loan and deposit portfolios with momentum throughout the organization. Total loans and leases grew by 3.6% in Q1 2026 compared to Q4 2025, 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 3.9% in Q1 2026 compared to Q4 2025, and we delivered over $230.0 million of non interest bearing deposit growth in Q1 2026 outside of the benefits of our digital asset channel clients. On a net basis, we had an increase of 1,167 commercial accounts, or a 5.0% increase in a single quarter, and the 2025 teams alone added 625 accounts in the quarter.

Our Q1 2026 GAAP earnings were $69.7 million, or $1.97 per diluted share, and core earnings* were $69.4 million, or $1.97 per diluted share. Asset quality remains strong with our NPA ratio at just 0.29% of total assets and reserve levels are robust at 337% of total non-performing loans at the end of Q1 2026. Our TCE / TA ratio* increased by 60 basis points from March 31, 2025 to 8.3% at March 31, 2026, while our balance sheet grew by 4.0% and we repurchased 621,668 shares of common stock at a weighted average price of $68.04 in the quarter.

In Q1 2026, we once again delivered exceptionally strong growth across key metrics of revenue, core earnings, and book value per share of 58%, 28%*, and 16%, respectively, when compared to Q1 2025” Sam Sidhu concluded.

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* 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.

Key Balance Sheet Trends

Loans and Leases Held for Investment

Loans and leases held for investment were $17.4 billion at March 31, 2026, up $615 million, or 3.7%, from December 31, 2025. C&I specialized lending increased by $308 million, or 4.3% quarter-over-quarter to $7.4 billion. Owner-occupied commercial real estate loans increased by $144 million, or 12.7% to $1.3 billion. Mortgage finance loans increased by $131 million, or 7.7% to $1.8 billion. Construction loans increased by $42 million, or 25.8% to $205 million. These increases were partially offset by a decrease in other C&I loans of $30 million, or 2.9% to $1.0 billion.

Loans and leases held for investment of $17.4 billion at March 31, 2026 were up $2.3 billion, or 15.3%, year-over-year. C&I specialized lending increased by $1.3 billion, or 21.9%, year-over-year. Mortgage finance loans increased by $354 million, or 23.9%. Non-owner occupied commercial real estate loans increased by $304 million, or 21.1%. Multifamily loans increased by $189 million, or 8.1%. Owner-occupied commercial real estate loans increased by $140 million, or 12.3%. These increases were partially offset by a decrease in other C&I loans of $59 million, or 5.6%.

Investment Securities

At March 31, 2026, total investment securities were $2.7 billion, a decrease of $10 million compared to December 31, 2025 and a decrease of $339 million compared to a year ago.

At March 31, 2026, the Available-For-Sale (“AFS”) debt securities portfolio had a spot yield of 5.43%, an effective duration of approximately 2.6 years, and approximately 28% are variable rate. Additionally, approximately 74% of the AFS securities portfolio was AAA rated at March 31, 2026.

At March 31, 2026, the Held-To-Maturity (“HTM”) debt securities portfolio represented only 2.6% of total assets, had a spot yield of 3.31% and an effective duration of approximately 3.9 years. Additionally, at March 31, 2026, approximately 63% 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 $814 million, or 3.9% to $21.6 billion at March 31, 2026 as compared to the prior quarter. The total average cost of deposits decreased by 8 basis points to 2.46% in Q1 2026 from 2.54% in the prior quarter. Total estimated uninsured deposits were $7.4 billion¹, or 34% of total deposits at March 31, 2026 with immediately available liquidity covering approximately 151% of these deposits.

Total deposits increased $2.7 billion, or 14.0% to $21.6 billion at March 31, 2026 as compared to a year ago. The total average cost of deposits decreased by 36 basis points to 2.46% in Q1 2026 from 2.82% in Q1 2025.

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¹		Uninsured deposits (estimate) of $9.3 billion to be reported on the Bank’s call report, less deposits of $1.6 billion collateralized by standby letters of credit from the FHLB and from our affiliates of $284 million.

Borrowings

Total borrowings increased $197 million, or 11.6% to $1.9 billion at March 31, 2026 as compared to the prior quarter. This increase primarily resulted from net draws of $240 million in FHLB advances and $70 million in federal funds purchased, partially offset by repayment of Customers Bank’s $110 million subordinated debt in Q1 2026. Total borrowings increased $487 million, or 34.4%, to $1.9 billion at March 31, 2026 as compared to a year ago primarily due to net draws of $430 million in FHLB advances and $70 million in federal funds purchased.

Capital

Customers Bancorp’s common equity increased $29 million to $2.1 billion, and tangible common equity* increased $29 million to $2.1 billion, at March 31, 2026 compared to the prior quarter, respectively, primarily from earnings of $70 million, offset in part by $43 million of common share repurchase. Customers Bancorp’s common equity increased $418 million to $2.1 billion, and tangible common equity* increased $418 million to $2.1 billion, at March 31, 2026 compared to a year ago, respectively, primarily from earnings of $281 million, the issuance of $163 million of common stock in September 2025 and a decrease in AOCI of $13 million (net of taxes), mostly from decreased unrealized losses on investment securities, offset in part by $43 million of common share repurchases. Book value per common share increased to $63.64 from $61.87 and $54.85, and tangible book value per common share* increased to $63.54 from $61.77 and $54.74, at March 31, 2026 from December 31, 2025 and March 31, 2025, respectively.

Credit Quality

The provision for credit losses in Q1 2026 was $23 million, compared to $22 million in Q4 2025 and $28 million in Q1 2025.

Net charge-offs were $13 million in Q1 2026, compared to $14 million in Q4 2025 and $17 million Q1 2025.

The allowance for credit losses on loans and leases was $161 million at March 31, 2026, compared to $156 million at December 31, 2025 and $141 million at March 31, 2025.

Non-performing loans at March 31, 2026 increased to 0.27% of total loans and leases, compared to 0.26% at December 31, 2025 and decreased, compared to 0.29% at March 31, 2025. Nonperforming loans include the guaranteed portion of SBA loans. As of March 31, 2026, nonperforming loans totaled $48 million, of which approximately $12 million represents the government-guaranteed portion. Excluding the government-guaranteed portion, nonperforming loans totaled approximately $36 million, representing 0.21% of total loans and leases.

Key Profitability Trends

Net Interest Income

Net interest income totaled $191.4 million in Q1 2026, a decrease of $13.1 million from Q4 2025. This decrease was driven by a decrease in interest income mainly from C&I loans and interest-earning deposits, partially offset by a decrease in interest expense primarily due to lower market interest rates.

“Net interest income and net interest margin were impacted as expected by the sunsetting of the discount accretion that benefitted Q3 and Q4 2025 as well as a lower day count in the quarter,” stated Customers Bancorp CFO Mark McCollom. “We continue to have positive drivers to net interest income on both sides of the balance sheet. We have a strong loan pipeline and the flywheel from our primarily deposit-focused commercial banking team recruitment strategy continued to gain momentum and our recruitment pipeline remains strong,” said Mark McCollom.

Net interest income totaled $191.4 million in Q1 2026, an increase of $23.9 million from Q1 2025. This increase was primarily due to higher interest income primarily due to higher average loan balances and lower interest expense from a favorable shift in deposit mix and lower market interest rates.

Non-Interest Income

Reported non-interest income totaled $34.3 million for Q1 2026, an increase of $1.8 million compared to $32.5 million for Q4 2025. The increase was primarily due to increases of $3.1 million in loan fees mainly from gains on certain stock warrants, $1.2 million in commercial lease income, $1.1 million in net gain on sale of loans and leases mainly from the sale of SBA loans and $0.9 million in bank-owned life insurance due to higher death benefits. These increases were partially offset by a decrease of $4.9 million in other non-interest income mainly due to a decrease in gain on sale of leased assets and loss on equity investments.

Non-interest income totaled $34.3 million for Q1 2026, an increase of $58.8 million compared to Q1 2025. The increase was primarily due to $51.3 million of impairment loss on certain AFS debt securities that the Bank decided to sell as of March 31, 2025 and increases in commercial lease income of $4.8 million, $3.3 million in loan fees mainly from gains on certain stock warrants and $1.0 million in net gain on sale of loans and leases mainly from the sale of SBA loans, partially offset by a decrease of $1.6 million in bank-owned life insurance income mainly due to lower death benefits received from insurance carriers.

Non-Interest Expense

Non-interest expenses totaled $112.0 million in Q1 2026, a decrease of $5.3 million compared to Q4 2025. The decrease was primarily attributable to decreases within other non-interest expense of $2.2 million in insurance expenses related to investments in tax credit structures with a corresponding benefit to income tax expense in Q4 2025, $1.7 million in provision for credit losses on unfunded lending commitments and $0.8 million in FDIC assessments, partially offset by an increase of $1.0 million in commercial lease depreciation associated with the Bank’s continued growth.

“In Q4 2025, we had a total of $4.8 million of expense that was unique to the quarter and taking this impact into account, expenses were down modestly quarter over quarter even as we continue to invest in our future. We successfully achieved our initial operational excellence goal of $20 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 16% and core expense* growth of only 9% in Q1 2026 compared to Q1 2025. This drove an over 300 basis point decline in our core efficiency ratio* over that same time period,” stated Mark McCollom.

Non-interest expenses totaled $112.0 million in Q1 2026, an increase of $9.2 million compared to Q1 2025. The increase was primarily attributable to increases of $8.6 million in salaries and employee benefits and $4.2 million in commercial lease depreciation associated with the Bank’s continued growth. These increases were partially offset by a decrease of $3.5 million in FDIC assessments.

Taxes

Income tax expense decreased by $2.2 million to a provision of $20.7 million in Q1 2026 from $22.8 million in Q4 2025 primarily due to lower pre-tax income and an increase in discrete tax benefits including benefits associated with stock-based compensation and adjustments related to prior tax positions, and increased by $21.7 million from a benefit to provision of $1.0 million in Q1 2025 primarily due to higher pre-tax income and lower investment tax credits. The effective tax rate was 22.9% for Q1 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.

There are four priorities that will command our attention and investment in 2026. First, we are targeting to increase our utilization of AI and automation technologies to transform our organization by providing enhanced client experiences and organizational productivity. Second, we will seek to deepen and broaden our payments capabilities by widening the industries and use cases we serve and by strengthening relationships with existing clients through expanded product offerings. Third, we will look 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 do this 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, April 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 1st Quarter Earnings Webcast.

You may submit questions in advance of the live webcast by emailing our Chief Marketing Officer, Laura Vele at lvele@customersbank.com.

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 nearly $26 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. 72 out of the 100 largest publicly traded banks in 2025 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)	Q1			Q4			Q3			Q2			Q1
(Dollars in thousands, except per share data)	2026			2025			2025			2025			2025

GAAP Profitability Metrics:
Net income available to common shareholders	$	69,653		$	70,088		$	73,726		$	55,846		$	9,523
Per share amounts:
Earnings per share - diluted	$	1.97		$	1.98		$	2.20		$	1.73		$	0.29
Book value per common share	$	63.64		$	61.87		$	59.83		$	56.36		$	54.85
Return on average assets (“ROAA”)		1.13	%		1.20	%		1.26	%		1.09	%		0.23	%
Return on average common equity (“ROCE”)		13.16	%		13.28	%		15.57	%		12.79	%		2.23	%
Net interest margin, tax equivalent		3.22	%		3.40	%		3.46	%		3.27	%		3.13	%
Efficiency ratio		49.68	%		49.52	%		45.39	%		51.23	%		52.94	%
Non-GAAP Profitability Metrics ⁽¹⁾:
Core earnings	$	69,445		$	72,851		$	73,473		$	58,147		$	50,002
Per share amounts:
Core earnings per share - diluted	$	1.97		$	2.06		$	2.20		$	1.80		$	1.54
Tangible book value per common share	$	63.54		$	61.77		$	59.72		$	56.24		$	54.74
Core ROAA		1.13	%		1.19	%		1.25	%		1.10	%		0.97	%
Core ROCE		13.12	%		13.81	%		15.52	%		13.32	%		11.72	%
Core efficiency ratio		49.68	%		49.52	%		45.40	%		51.56	%		52.69	%
Balance Sheet Trends:
Total assets	$	25,880,767		$	24,895,868		$	24,260,163		$	22,550,800		$	22,423,044
Total cash and investment securities	$	7,454,901		$	7,078,243		$	6,997,783		$	6,234,043		$	6,424,406
Total loans and leases	$	17,391,546		$	16,782,516		$	16,303,147		$	15,412,400		$	15,097,968
Non-interest bearing demand deposits	$	6,739,713		$	6,303,748		$	6,380,879		$	5,481,065		$	5,552,605
Total deposits	$	21,592,645		$	20,778,704		$	20,405,023		$	18,976,018		$	18,932,925
Asset Quality:
Net charge-offs	$	13,255		$	13,749		$	15,371		$	13,115		$	17,144
Annualized net charge-offs to average total loans and leases		0.32	%		0.33	%		0.39	%		0.35	%		0.48	%
Nonaccrual / non-performing loans (“NPLs”)	$	47,818		$	43,688		$	28,421		$	28,443		$	43,513
NPLs to total loans and leases		0.27	%		0.26	%		0.17	%		0.18	%		0.29	%
Reserves to NPLs		336.61	%		356.29	%		534.14	%		518.29	%		324.22	%
Non-performing assets (“NPAs”)	$	74,737		$	72,344		$	61,057		$	60,778		$	57,960
NPAs to total assets		0.29	%		0.29	%		0.25	%		0.27	%		0.26	%
Capital Metrics:
Common equity to total assets		8.3	%		8.5	%		8.4	%		7.9	%		7.7	%
Tangible common equity to tangible assets ⁽¹⁾		8.3	%		8.5	%		8.4	%		7.9	%		7.7	%
Common equity Tier 1 capital ratio ⁽²⁾		12.8	%		12.99	%		13.00	%		12.05	%		11.72	%
Total risk based capital ratio ⁽²⁾		14.8	%		15.39	%		15.35	%		14.49	%		14.61	%
Customers Bank Capital Ratios ⁽²⁾:
Common equity Tier 1 capital to risk-weighted assets		13.7	%		13.25	%		13.22	%		13.00	%		12.40	%
Total capital to risk-weighted assets		14.7	%		14.62	%		14.60	%		14.43	%		13.92	%
Tier 1 capital to average assets (leverage ratio)		9.4	%		8.90	%		8.84	%		8.86	%		8.43	%
Share amounts:
Average shares outstanding - basic		34,080,834			34,170,777			32,340,813			31,585,390			31,447,623
Average shares outstanding - diluted		35,313,835			35,396,324			33,460,055			32,374,061			32,490,572
Shares outstanding		33,692,632			34,191,223			34,163,506			31,606,934			31,479,132

(1) 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.
(2) Regulatory capital ratios are estimated for Q1 2026 and actual for the remaining periods.

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
(Dollars in thousands, except per share data)
	Q1		Q4			Q3		Q2			Q1
	2026		2025			2025		2025			2025
Interest income:
Loans and leases	$	258,734	$	274,752		$	272,131	$	246,869		$	231,008
Investment securities		32,141		31,979			36,091		37,381			34,339
Interest earning deposits		41,830		44,862			49,639		39,972			42,914
Loans held for sale		1,235		1,432			1,589		1,806			4,761
Other		2,372		2,173			2,029		1,973			1,887
Total interest income		336,312		355,198			361,479		328,001			314,909

Interest expense:
Deposits		126,126		131,797			141,983		134,045			131,308
FHLB advances		12,935		14,490			12,945		12,717			11,801
Subordinated debt		4,621		3,355			3,251		3,229			3,212
Federal funds purchased		13		—			—		—			—
Other borrowings		1,266		1,128			1,388		1,307			1,142
Total interest expense		144,961		150,770			159,567		151,298			147,463
Net interest income		191,351		204,428			201,912		176,703			167,446
Provision for credit losses		23,372		22,337			26,543		20,781			28,297
Net interest income after provision for credit losses		167,979		182,091			175,369		155,922			139,149

Non-interest income:
Commercial lease income		15,418		14,186			11,536		11,056			10,668
Loan fees		10,506		7,420			11,443		9,106			7,235
Bank-owned life insurance		3,084		2,189			2,165		2,249			4,660
Mortgage finance transactional fees		1,306		1,339			1,298		1,175			933
Net gain (loss) on sale of loans and leases		1,044		(62	)		—		—			2
Net gain (loss) on sale of investment securities		355		(27	)		186		(1,797	)		—
Impairment loss on debt securities		—		—			—		—			(51,319	)
Other		2,603		7,471			3,563		7,817			3,331
Total non-interest income (loss)		34,316		32,516			30,191		29,606			(24,490	)

Non-interest expense:
Salaries and employee benefits		51,294		51,744			48,723		45,848			42,674
Technology, communication and bank operations		11,643		11,388			10,415		10,382			11,312
Commercial lease depreciation		12,692		11,668			9,463		8,743			8,463
Professional services		11,695		12,390			12,281		13,850			11,857
Loan servicing		3,859		4,050			4,167		4,053			4,630
Occupancy		3,956		4,291			4,370		3,551			3,412
FDIC assessments, non-income taxes and regulatory fees		8,215		9,023			8,505		11,906			11,750
Advertising and promotion		554		812			636		461			528
Other		8,080		11,943			6,657		7,832			8,145
Total non-interest expense		111,988		117,309			105,217		106,626			102,771
Income before income tax expense (benefit)		90,307		97,298			100,343		78,902			11,888
Income tax expense (benefit)		20,654		22,806			24,598		17,963			(1,024	)
Net income		69,653		74,492			75,745		60,939			12,912
Preferred stock dividends		—		1,605			2,019		3,185			3,389
Loss on redemption of preferred stock		—		2,799			—		1,908			—
Net income available to common shareholders	$	69,653	$	70,088		$	73,726	$	55,846		$	9,523

Basic earnings per common share	$	2.04	$	2.05		$	2.28	$	1.77		$	0.30
Diluted earnings per common share		1.97		1.98			2.20		1.73			0.29


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET - UNAUDITED
(Dollars in thousands)
	March 31,			December 31,			September 30,			June 30,			March 31,
	2026			2025			2025			2025			2025
ASSETS
Cash and due from banks	$	89,153		$	62,051		$	57,951		$	72,986		$	62,146
Interest earning deposits		4,709,051			4,349,412			4,127,688			3,430,525			3,366,544
Cash and cash equivalents		4,798,204			4,411,463			4,185,639			3,503,511			3,428,690
Investment securities, at fair value		1,993,152			1,937,646			2,010,820			1,877,406			2,057,555
Investment securities held to maturity		663,545			729,134			801,324			853,126			938,161
Loans held for sale		20,282			26,102			30,897			32,963			37,529
Loans and leases receivable		15,519,493			15,041,340			14,673,636			13,719,829			13,555,820
Loans receivable, mortgage finance, at fair value		1,758,685			1,612,997			1,486,978			1,536,254			1,366,460
Loans receivable, installment, at fair value		93,086			102,077			111,636			123,354			138,159
Allowance for credit losses on loans and leases		(160,962	)		(155,656	)		(151,809	)		(147,418	)		(141,076	)
Total loans and leases receivable, net of allowance for credit losses on loans and leases		17,210,302			16,600,758			16,120,441			15,232,019			14,919,363
FHLB, Federal Reserve Bank, and other restricted stock		117,880			110,411			103,290			100,590			96,758
Accrued interest receivable		105,002			103,626			106,379			101,481			105,800
Bank premises and equipment, net		15,749			16,745			15,340			5,978			6,653
Bank-owned life insurance		306,927			305,503			303,212			300,747			298,551
Other real estate owned		12,506			12,432			12,432			12,306			—
Goodwill and other intangibles		3,629			3,629			3,629			3,629			3,629
Other assets		633,589			638,419			566,760			527,044			530,355
Total assets	$	25,880,767		$	24,895,868		$	24,260,163		$	22,550,800		$	22,423,044

LIABILITIES AND SHAREHOLDERS’ EQUITY
Demand, non-interest bearing deposits	$	6,739,713		$	6,303,748		$	6,380,879		$	5,481,065		$	5,552,605
Interest bearing deposits		14,852,932			14,474,956			14,024,144			13,494,953			13,380,320
Total deposits		21,592,645			20,778,704			20,405,023			18,976,018			18,932,925
Federal funds purchased		70,000			—			—			—			—
FHLB advances		1,561,655			1,325,068			1,195,437			1,195,377			1,133,456
Other borrowings		99,243			99,208			99,173			99,138			99,103
Subordinated debt		171,614			281,147			182,718			182,649			182,579
Accrued interest payable and other liabilities		241,310			296,224			251,753			234,060			210,421
Total liabilities		23,736,467			22,780,351			22,134,104			20,687,242			20,558,484

Preferred stock		—			—			82,201			82,201			137,794
Common stock		36,312			36,189			36,161			36,123			35,995
Additional paid in capital		669,112			666,756			662,252			572,473			570,172
Retained earnings		1,604,847			1,535,194			1,465,106			1,391,380			1,335,534
Accumulated other comprehensive income (loss), net		(54,657	)		(54,050	)		(51,089	)		(71,325	)		(67,641	)
Treasury stock, at cost		(111,314	)		(68,572	)		(68,572	)		(147,294	)		(147,294	)
Total shareholders’ equity		2,144,300			2,115,517			2,126,059			1,863,558			1,864,560
Total liabilities and shareholders’ equity	$	25,880,767		$	24,895,868		$	24,260,163		$	22,550,800		$	22,423,044


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
AVERAGE BALANCE SHEET / NET INTEREST MARGIN - UNAUDITED
(Dollars in thousands)
	Three Months Ended
	March 31, 2026					December 31, 2025					March 31, 2025
	Average Balance		Interest Income or Expense		Average Yield or Cost (%)	Average Balance		Interest Income or Expense		Average Yield or Cost (%)	Average Balance		Interest Income or Expense		Average Yield or Cost (%)
Assets
Interest earning deposits	$	4,492,897	$	41,830	3.78%	$	4,421,242	$	44,862	4.03%	$	3,857,617	$	42,914	4.51%
Investment securities ⁽¹⁾		2,735,786		32,141	4.70%		2,849,764		31,979	4.45%		3,100,429		34,339	4.49%
Loans and leases:
Commercial & industrial:
Specialized lending loans and leases ⁽²⁾		7,863,238		132,861	6.85%		7,775,247		139,552	7.12%		6,474,034		120,951	7.58%
Other commercial & industrial loans ⁽²⁾		1,450,962		24,202	6.76%		1,477,351		32,320	8.68%		1,542,846		23,933	6.29%
Mortgage finance loans		1,513,914		16,250	4.35%		1,536,265		17,862	4.61%		1,252,602		14,752	4.78%
Multifamily loans		2,494,849		28,249	4.59%		2,445,945		27,990	4.54%		2,273,893		23,664	4.22%
Non-owner occupied commercial real estate loans		1,907,541		27,711	5.89%		1,784,838		26,635	5.92%		1,550,372		21,564	5.64%
Residential mortgages		524,282		6,240	4.77%		541,091		6,392	4.69%		530,613		6,228	4.76%
Installment loans		912,090		24,456	10.87%		945,697		25,433	10.67%		938,193		24,677	10.67%
Total loans and leases ⁽³⁾		16,666,876		259,969	6.32%		16,506,434		276,184	6.64%		14,562,553		235,769	6.57%
Other interest-earning assets		156,894		2,372	6.13%		153,480		2,173	5.62%		127,793		1,887	5.99%
Total interest-earning assets		24,052,453		336,312	5.66%		23,930,920		355,198	5.89%		21,648,392		314,909	5.89%
Non-interest-earning assets		868,524					790,453					666,571
Total assets	$	24,920,977				$	24,721,373				$	22,314,963
Liabilities
Interest checking accounts	$	4,993,616	$	40,023	3.25%	$	4,889,245	$	42,168	3.42%	$	5,358,206	$	49,903	3.78%
Money market deposit accounts		4,364,149		36,640	3.40%		4,421,276		40,387	3.62%		3,882,855		37,767	3.94%
Other savings accounts		1,579,730		13,580	3.49%		1,562,768		14,384	3.65%		1,151,439		10,691	3.77%
Certificates of deposit		3,456,664		35,883	4.21%		3,152,637		34,858	4.39%		2,749,720		32,947	4.86%
Total interest-bearing deposits ⁽⁴⁾		14,394,159		126,126	3.55%		14,025,926		131,797	3.73%		13,142,220		131,308	4.05%
Federal funds purchased		1,367		13	3.73%		—		—	—%		—		—	—%
Borrowings		1,712,498		18,822	4.46%		1,666,006		18,973	4.52%		1,346,941		16,155	4.86%
Total interest-bearing liabilities		16,108,024		144,961	3.65%		15,691,932		150,770	3.81%		14,489,161		147,463	4.13%
Non-interest-bearing deposits ⁽⁴⁾		6,393,947					6,599,095					5,710,644
Total deposits and borrowings		22,501,971			2.61%		22,291,027			2.68%		20,199,805			2.96%
Other non-interest-bearing liabilities		272,488					269,824					246,455
Total liabilities		22,774,459					22,560,851					20,446,260
Shareholders’ equity		2,146,518					2,160,522					1,868,703
Total liabilities and shareholders’ equity	$	24,920,977				$	24,721,373				$	22,314,963
Net interest income				191,351					204,428					167,446
Tax-equivalent adjustment				257					348					363
Net interest earnings			$	191,608				$	204,776				$	167,809
Interest spread					3.05%					3.21%					2.93%
Net interest margin					3.22%					3.39%					3.13%
Net interest margin tax equivalent ⁽⁵⁾					3.22%					3.40%					3.13%


(1) 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.
(2) Includes owner occupied commercial real estate loans.
(3) Includes non-accrual loans, the effect of which is to reduce the yield earned on loans and leases, and deferred loan fees.
(4) Total costs of deposits (including interest bearing and non-interest bearing) were 2.46%, 2.54% and 2.82% for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively.
(5) Tax-equivalent basis, using an estimated marginal tax rate of 21% for the three months ended March 31, 2026, and 26% for the three months ended December 31, 2025 and March 31, 2025, presented to approximate interest income as a taxable asset.

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
PERIOD END LOAN AND LEASE COMPOSITION - UNAUDITED
(Dollars in thousands)
	March 31,		December 31,		September 30,		June 30,		March 31,
	2026		2025		2025		2025		2025
Loans and leases held for investment
Commercial:
Commercial & industrial:
Specialized lending	$	7,398,205	$	7,090,087	$	7,083,620	$	6,454,661	$	6,070,093
Other commercial & industrial		1,003,750		1,033,704		1,056,173		1,037,684		1,062,933
Mortgage finance		1,831,408		1,700,380		1,577,038		1,625,764		1,477,896
Multifamily		2,510,697		2,490,336		2,356,590		2,247,282		2,322,123
Commercial real estate owner occupied		1,279,501		1,135,119		1,058,741		1,065,006		1,139,126
Commercial real estate non-owner occupied		1,742,989		1,738,821		1,582,332		1,497,385		1,438,906
Construction		204,999		162,966		123,290		98,626		154,647
Total commercial loans and leases		15,971,549		15,351,413		14,837,784		14,026,408		13,665,724
Consumer:
Residential		495,458		497,567		514,544		520,570		496,772
Manufactured housing		26,065		27,452		28,749		30,287		31,775
Installment:
Personal		599,302		581,340		570,768		457,728		493,276
Other		278,890		298,642		320,405		344,444		372,892
Total installment loans		878,192		879,982		891,173		802,172		866,168
Total consumer loans		1,399,715		1,405,001		1,434,466		1,353,029		1,394,715
Total loans and leases held for investment	$	17,371,264	$	16,756,414	$	16,272,250	$	15,379,437	$	15,060,439

Loans held for sale
Commercial:
Commercial real estate non-owner occupied	$	—	$	—	$	4,700	$	—	$	—
Total commercial loans and leases		—		—		4,700		—		—
Consumer:
Residential		1,767		1,851		2,229		5,180		1,465
Installment:
Personal		17,056		23,357		23,728		27,682		36,000
Other		1,459		894		240		101		64
Total installment loans		18,515		24,251		23,968		27,783		36,064
Total consumer loans		20,282		26,102		26,197		32,963		37,529
Total loans held for sale	$	20,282	$	26,102	$	30,897	$	32,963	$	37,529
Total loans and leases portfolio	$	17,391,546	$	16,782,516	$	16,303,147	$	15,412,400	$	15,097,968


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
PERIOD END DEPOSIT COMPOSITION - UNAUDITED
(Dollars in thousands)
	March 31,		December 31,		September 30,		June 30,		March 31,
	2026		2025		2025		2025		2025

Demand, non-interest bearing	$	6,739,713	$	6,303,748	$	6,380,879	$	5,481,065	$	5,552,605
Demand, interest bearing		5,085,040		5,049,151		5,050,437		4,912,839		5,137,961
Total demand deposits		11,824,753		11,352,899		11,431,316		10,393,904		10,690,566
Savings		1,742,652		1,731,010		1,554,533		1,375,072		1,327,854
Money market		4,604,981		4,398,827		4,339,371		4,206,516		4,057,458
Time deposits		3,420,259		3,295,968		3,079,803		3,000,526		2,857,047
Total deposits	$	21,592,645	$	20,778,704	$	20,405,023	$	18,976,018	$	18,932,925


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
ASSET QUALITY - UNAUDITED
(Dollars in thousands)
	As of March 31, 2026						As of December 31, 2025						As of March 31, 2025
Loan type	Total loans		Allowance for credit losses		Total reserves to total loans		Total loans		Allowance for credit losses		Total reserves to total loans		Total loans		Allowance for credit losses		Total reserves to total loans
Commercial:
Commercial & industrial, including specialized lending	$	8,474,678	$	41,214	0.49	%	$	8,211,174	$	37,683	0.46	%	$	7,244,462	$	30,584	0.42	%
Multifamily		2,510,697		19,441	0.77	%		2,490,336		19,333	0.78	%		2,322,123		18,790	0.81	%
Commercial real estate owner occupied		1,279,501		10,556	0.83	%		1,135,119		10,431	0.92	%		1,139,126		10,780	0.95	%
Commercial real estate non-owner occupied		1,742,989		18,470	1.06	%		1,738,821		18,928	1.09	%		1,438,906		18,058	1.25	%
Construction		204,999		2,672	1.30	%		162,966		2,225	1.37	%		154,647		1,264	0.82	%
Total commercial loans and leases receivable		14,212,864		92,353	0.65	%		13,738,416		88,600	0.64	%		12,299,264		79,476	0.65	%

Consumer:
Residential		495,458		5,713	1.15	%		497,567		6,499	1.31	%		496,772		6,163	1.24	%
Manufactured housing		26,065		3,338	12.81	%		27,452		3,391	12.35	%		31,775		3,800	11.96	%
Installment		785,106		59,558	7.59	%		777,905		57,166	7.35	%		728,009		51,637	7.09	%
Total consumer loans receivable		1,306,629		68,609	5.25	%		1,302,924		67,056	5.15	%		1,256,556		61,600	4.90	%

Loans and leases receivable held for investment		15,519,493		160,962	1.04	%		15,041,340		155,656	1.03	%		13,555,820		141,076	1.04	%

Loans receivable, mortgage finance, at fair value		1,758,685		—	—	%		1,612,997		—	—	%		1,366,460		—	—	%
Loans receivable, installment, at fair value		93,086		—	—	%		102,077		—	—	%		138,159		—	—	%
Loans held for sale		20,282		—	—	%		26,102		—	—	%		37,529		—	—	%

Total loans and leases portfolio	$	17,391,546	$	160,962	0.93	%	$	16,782,516	$	155,656	0.93	%	$	15,097,968	$	141,076	0.93	%


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
ASSET QUALITY - UNAUDITED (CONTINUED)
(Dollars in thousands)
	As of March 31, 2026						As of December 31, 2025						As of March 31, 2025
Loan type	Non accrual /NPLs		Total NPLs to total loans		Total reserves to total NPLs		Non accrual /NPLs		Total NPLs to total loans		Total reserves to total NPLs		Non accrual /NPLs		Total NPLs to total loans		Total reserves to total NPLs
Commercial:
Commercial & industrial, including specialized lending	$	18,588	0.22	%	221.72	%	$	19,790	0.24	%	190.41	%	$	18,754	0.26	%	163.08	%
Multifamily		9,090	0.36	%	213.87	%		2,092	0.08	%	924.14	%		—	—	%	—	%
Commercial real estate owner occupied		5,740	0.45	%	183.90	%		3,876	0.34	%	269.12	%		7,793	0.68	%	138.33	%
Commercial real estate non-owner occupied		135	0.01	%	13681.48	%		168	0.01	%	11266.67	%		62	—	%	29125.81	%
Construction		—	—	%	—	%		—	—	%	—	%		—	—	%	—	%
Total commercial loans and leases receivable		33,553	0.24	%	275.25	%		25,926	0.19	%	341.74	%		26,609	0.22	%	298.68	%

Consumer:
Residential		7,509	1.52	%	76.08	%		9,671	1.94	%	67.20	%		8,151	1.64	%	75.61	%
Manufactured housing		1,143	4.39	%	292.04	%		1,192	4.34	%	284.48	%		1,653	5.20	%	229.89	%
Installment		3,736	0.48	%	1594.16	%		4,483	0.58	%	1275.17	%		4,659	0.64	%	1108.33	%
Total consumer loans receivable		12,388	0.95	%	553.83	%		15,346	1.18	%	436.96	%		14,463	1.15	%	425.91	%

Loans and leases receivable		45,941	0.30	%	350.37	%		41,272	0.27	%	377.15	%		41,072	0.30	%	343.48	%

Loans receivable, mortgage finance, at fair value		—	—	%	—	%		—	—	%	—	%		—	—	%	—	%
Loans receivable, installment, at fair value		1,626	1.75	%	—	%		2,137	2.09	%	—	%		2,059	1.49	%	—	%
Loans held for sale		251	1.24	%	—	%		279	1.07	%	—	%		382	1.02	%	—	%

Total loans and leases portfolio	$	47,818	0.27	%	336.61	%	$	43,688	0.26	%	356.29	%	$	43,513	0.29	%	324.22	%


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
NET CHARGE-OFFS/(RECOVERIES) - UNAUDITED
(Dollars in thousands)
	Q1			Q4			Q3		Q2			Q1
	2026			2025			2025		2025			2025
Loan type
Commercial & industrial, including specialized lending	$	2,576		$	1,620		$	2,180	$	3,871		$	3,231
Multifamily		2,630			4,612			—		—			3,834
Commercial real estate owner occupied		(5	)		(40	)		335		411			16
Commercial real estate non-owner occupied		—			(225	)		3,073		—			—
Construction		—			—			—		(3	)		(3	)
Residential		—			16			25		(4	)		—
Installment		8,054			7,766			9,758		8,840			10,066
Total net charge-offs (recoveries) from loans held for investment	$	13,255		$	13,749		$	15,371	$	13,115		$	17,144

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
LOANS AND LEASES RISK RATINGS - UNAUDITED
(Dollars in thousands)
	March 31,		December 31,		September 30,		June 30,		March 31,
	2026		2025		2025		2025		2025
Loans and leases ⁽¹⁾ risk ratings:
Commercial loans and leases
Pass	$	13,803,943	$	13,316,507	$	12,927,467	$	12,047,656	$	11,815,403
Special Mention		159,714		216,462		187,794		174,587		189,155
Substandard		245,028		200,779		230,079		256,849		276,018
Total commercial loans and leases		14,208,685		13,733,748		13,345,340		12,479,092		12,280,576
Consumer loans
Performing		1,294,311		1,287,408		1,308,987		1,209,377		1,242,753
Non-performing		12,318		15,516		13,843		20,298		13,803
Total consumer loans		1,306,629		1,302,924		1,322,830		1,229,675		1,256,556
Loans and leases receivable ⁽¹⁾	$	15,515,314	$	15,036,672	$	14,668,170	$	13,708,767	$	13,537,132

(1)

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.

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
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*
*Core Earnings - Customers Bancorp*	Q1 2026						Q4 2025					Q3 2025						Q2 2025						Q1 2025
(Dollars in thousands, except per share data)	USD			Per share			USD			Per share		USD			Per share			USD			Per share			USD			Per share
GAAP net income to common shareholders	$	69,653		$	1.97		$	70,088		$	1.98	$	73,726		$	2.20		$	55,846		$	1.73		$	9,523		$	0.29
Reconciling items (after tax):
Impairment loss on debt securities		—			—			—			—		—			—			—			—			39,875			1.23
(Gains) losses on investment securities		(208	)		(0.01	)		(36	)		0.00		(253	)		(0.01	)		1,388			0.04			(124	)		0.00
Derivative credit valuation adjustment		—			—			—			—		—			—			—			—			210			0.01
Loss on redemption of preferred stock		—			—			2,799			0.08		—			—			1,908			0.06			—			—
Unrealized (gain) loss on loans held for sale		—			—			—			—		—			—			(223	)		(0.01	)		518			0.02
Loan program termination fees		—			—			—			—		—			—			(772	)		(0.02	)		—			—
Core earnings	$	69,445		$	1.97		$	72,851		$	2.06	$	73,473		$	2.20		$	58,147		$	1.80		$	50,002		$	1.54

*Core Return on Average Assets - Customers Bancorp*
(Dollars in thousands, except per share data)	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
GAAP net income	$	69,653		$	74,492		$	75,745		$	60,939		$	12,912
Reconciling items (after tax):
Impairment loss on debt securities		—			—			—			—			39,875
(Gains) losses on investment securities		(208	)		(36	)		(253	)		1,388			(124	)
Derivative credit valuation adjustment		—			—			—			—			210
Unrealized (gain) loss on loans held for sale		—			—			—			(223	)		518
Loan program termination fees		—			—			—			(772	)		—
Core net income	$	69,445		$	74,456		$	75,492		$	61,332		$	53,391


Average total assets	$	24,920,977		$	24,721,373		$	23,930,723		$	22,362,989		$	22,314,963

Core return on average assets		1.13	%		1.19	%		1.25	%		1.10	%		0.97	%

*Core Return on Average Common Equity - Customers Bancorp*
(Dollars in thousands, except per share data)	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
GAAP net income to common shareholders	$	69,653		$	70,088		$	73,726		$	55,846		$	9,523
Reconciling items (after tax):
Impairment loss on debt securities		—			—			—			—			39,875
(Gains) losses on investment securities		(208	)		(36	)		(253	)		1,388			(124	)
Derivative credit valuation adjustment		—			—			—			—			210
Loss on redemption of preferred stock		—			2,799			—			1,908			—
Unrealized (gain) loss on loans held for sale		—			—			—			(223	)		518
Loan program termination fees		—			—			—			(772	)		—
Core earnings	$	69,445		$	72,851		$	73,473		$	58,147		$	50,002


Average total common shareholders’ equity	$	2,146,518		$	2,093,510		$	1,878,115		$	1,751,037		$	1,730,910

Core return on average common equity		13.12	%		13.81	%		15.52	%		13.32	%		11.72	%

*Core Efficiency Ratio - Customers Bancorp*
(Dollars in thousands, except per share data)	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
GAAP net interest income	$	191,351		$	204,428		$	201,912		$	176,703		$	167,446

GAAP non-interest income (loss)	$	34,316		$	32,516		$	30,191		$	29,606		$	(24,490	)
(Gains) losses on investment securities		(269	)		(47	)		(334	)		1,797			(160	)
Derivative credit valuation adjustment		—			—			—			—			270
Unrealized (gain) loss on loans held for sale		—			—			—			(289	)		667
Impairment loss on debt securities		—			—			—			—			51,319
Loan program termination fees		—			—			—			(1,000	)		—
Core non-interest income		34,047			32,469			29,857			30,114			27,606
Core revenue	$	225,398		$	236,897		$	231,769		$	206,817		$	195,052


GAAP non-interest expense	$	111,988		$	117,309		$	105,217		$	106,626		$	102,771
Core non-interest expense	$	111,988		$	117,309		$	105,217		$	106,626		$	102,771


Core efficiency ratio ⁽¹⁾		49.68	%		49.52	%		45.40	%		51.56	%		52.69	%

(1)

Core efficiency ratio calculated as core non-interest expense divided by core revenue.

*Tangible Common Equity to Tangible Assets - Customers Bancorp*

(Dollars in thousands, except per share data)	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
GAAP total shareholders’ equity	$	2,144,300		$	2,115,517		$	2,126,059		$	1,863,558		$	1,864,560
Reconciling items:
Preferred stock		—			—			(82,201	)		(82,201	)		(137,794	)
Goodwill and other intangibles		(3,629	)		(3,629	)		(3,629	)		(3,629	)		(3,629	)
Tangible common equity	$	2,140,671		$	2,111,888		$	2,040,229		$	1,777,728		$	1,723,137

GAAP total assets	$	25,880,767		$	24,895,868		$	24,260,163		$	22,550,800		$	22,423,044
Reconciling items:
Goodwill and other intangibles		(3,629	)		(3,629	)		(3,629	)		(3,629	)		(3,629	)
Tangible assets	$	25,877,138		$	24,892,239		$	24,256,534		$	22,547,171		$	22,419,415

Tangible common equity to tangible assets		8.3	%		8.5	%		8.4	%		7.9	%		7.7	%

*Tangible Book Value per Common Share - Customers Bancorp*

(Dollars in thousands, except share and per share data)	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
GAAP total shareholders’ equity	$	2,144,300		$	2,115,517		$	2,126,059		$	1,863,558		$	1,864,560
Reconciling Items:
Preferred stock		—			—			(82,201	)		(82,201	)		(137,794	)
Goodwill and other intangibles		(3,629	)		(3,629	)		(3,629	)		(3,629	)		(3,629	)
Tangible common equity	$	2,140,671		$	2,111,888		$	2,040,229		$	1,777,728		$	1,723,137

Common shares outstanding		33,692,632			34,191,223			34,163,506			31,606,934			31,479,132

Tangible book value per common share	$	63.54		$	61.77		$	59.72		$	56.24		$	54.74

View source version on businesswire.com: https://www.businesswire.com/news/home/20260423277350/en/

Laura Vele, Chief Marketing Officer 646-315-2017

Source: Customers Bancorp, Inc.

Customers Bancorp Reports Results for First Quarter 2026

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