Customers Bancorp Reports Results for Fourth Quarter and Full Year 2025

Customers Bancorp Reports Results for Fourth Quarter and Full Year 2025

Customers Bancorp Reports Results for Fourth Quarter and Full Year 2025

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core earnings financial

Core earnings are the profit a business generates from its normal, ongoing operations after removing one-time gains or losses and unusual accounting adjustments; think of it as the recurring paycheck a household can expect each month rather than a one-off inheritance or sale. Investors care because it highlights the company’s sustainable cash-making ability and makes performance easier to compare across periods and with other firms.

return on average assets financial

Return on average assets (ROAA) measures how efficiently a company turns its assets into profit by comparing profit after expenses to the average value of its assets over a period (usually the average of beginning and ending assets). It matters to investors because it shows how well management uses the company’s resources to generate returns—think of it as how much profit a baker earns from the oven space they actually used over time.

return on common equity financial

Return on common equity measures the profit a company generates for ordinary shareholders over a period, usually a year, by dividing net income available to those common shareholders by the average common shareholders’ equity. It tells investors how efficiently their invested dollars are being used—like checking how much profit each dollar of ownership produces—and helps compare profitability across companies and evaluate management performance.

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.

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.

allowance for credit losses financial

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

subordinated debt financial

Subordinated debt is a type of loan that is paid back after other debts have been settled if a company encounters financial trouble. It is considered riskier for lenders because they have lower priority in getting repaid, similar to being last in line during a payout. For investors, this means higher potential returns in exchange for taking on more risk.

01/22/2026 - 04:40 PM

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

Fourth Quarter 2025 Highlights

Q4 2025 net income available to common shareholders was $70.1 million, or $1.98 per diluted share; ROAA was 1.20% and ROCE was 13.28%.
Q4 2025 core earnings*¹ were $72.9 million, or $2.06 per diluted share; Core ROAA* was 1.19% and Core ROCE* was 13.81%.
Total deposits increased $373.7 million, or 1.8%, and total loans increased $479.4 million, or 2.9%, in Q4 2025 from Q3 2025.
Net interest income totaled $204.4 million in Q4 2025, an increase of $2.5 million from Q3 2025 primarily driven by a decrease in interest expense.
Completed $100 million subordinated debt issuance on December 22, 2025.
Redeemed all outstanding shares ($85 million) of Series F Preferred Stock on December 15, 2025.

Full Year 2025 Highlights

2025 net income available to common shareholders was $209.2 million, or $6.26 per diluted share; ROAA was 0.96% and ROCE was 11.22%.
2025 core earnings* were $254.5 million, or $7.61 per diluted share; Core ROAA* was 1.13% and Core ROCE* was 13.65%.
Total deposits increased $1.9 billion, or 10.3%, and total loans increased $2.1 billion, or 14.5%, from December 31, 2024 to December 31, 2025.
Net interest income totaled a record $750.5 million in 2025, an increase of $96.1 million, or 14.7%, from 2024.
CET 1 capital ratio of 13.0%² at December 31, 2025, compared to 12.1% at December 31, 2024.
Book value per share and tangible book value per share* grew year over year by approximately $7.69 or 14.2%, driven by strong 2025 annual earnings combined with the completed common stock offering and decreased AOCI losses of $42.5 million during the year.
$278.8 million increase in total shareholders equity, or 15.2%, driven by completed common stock offering and strong organic earnings.

CEO Commentary

“We are pleased with our fourth quarter and full year results that show the company’s continued execution of its strategic priorities and underscore our success in growing franchise value,” said Customers Bancorp Executive Chairman Jay Sidhu.

“During the quarter, we continued to strategically grow our loan and deposit portfolios as we saw momentum throughout the organization. Total loans and leases grew by 14.5% in 2025 with contributions from multiple verticals allowing us to deliver above industry average growth rates without sacrificing on structure or credit quality.

Our new teams recruited since Q2 2023 continued to shine, adding nearly $600 million of deposits in Q4 2025. These 18 teams now manage over $3.3 billion in deposits across over 8,000 commercial accounts. This has allowed us to deliver over $500 million of non-interest bearing deposit growth in 2025 outside of the benefits of our cubiX platform clients.

Our Q4 2025 GAAP earnings were $70.1 million, or $1.98 per diluted share, and core earnings* were $72.9 million, or $2.06 per diluted share. Asset quality remains strong with our NPA ratio at just 0.29% of total assets and reserve levels are robust at 356% of total non-performing loans at the end of Q4 2025. Our TCE / TA ratio* increased by 10 basis points from September 30, 2025 to 8.5% at December 31, 2025, while our balance sheet grew by 2.6%.

In 2025, we once again delivered exceptionally strong growth in revenue, core earnings, and tangible book value per share of 14.5%, 35.9%*, and 14.2%*, respectively.

We believe that our unique strategy, the investments we are making, and the exceptional talent across our organization position us strongly for continued success. It is because of this positioning that I felt confident in completing the previously announced leadership transition and succession plan with Sam Sidhu becoming Chief Executive Officer of Customers Bancorp, effective January 1, 2026,” Jay Sidhu concluded.

____________________________________________________________________________
*		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 $16.8 billion at December 31, 2025, up $484 million, or 3.0%, from September 30, 2025. Non-owner occupied commercial real estate loans increased by $156 million, or 9.9% quarter-over-quarter to $1.7 billion. Multifamily loans increased by $134 million, or 5.7% to $2.5 billion. Mortgage finance loans increased by $123 million, or 7.8% to $1.7 billion. Owner-occupied commercial real estate loans increased by $76 million, or 7.2% to $1.1 billion.

Loans and leases held for investment of $16.8 billion at December 31, 2025 were up $2.3 billion, or 16.0%, year-over-year. Specialized lending increased by $1.2 billion, or 21.4%, year-over-year. Non-owner occupied commercial real estate loans increased by $380 million, or 27.9%. Mortgage finance loans increased by $260 million, or 18.0%. Multifamily loans increased by $238 million, or 10.6%. Consumer installment loans increased by $166 million, or 23.3%, inclusive of the transfer from loans held for sale in Q1 2025.

Investment Securities

At December 31, 2025, total investment securities were $2.7 billion, a decrease of $145 million compared to September 30, 2025 and a decrease of $345 million compared to a year ago.

At December 31, 2025, the Available-For-Sale (“AFS”) debt securities portfolio had a spot yield of 5.54%, an effective duration of approximately 2.4 years, and approximately 29% are variable rate. Additionally, 69% of the AFS securities portfolio was AAA rated at December 31, 2025.

At December 31, 2025, the Held-To-Maturity (“HTM”) debt securities portfolio represented only 2.9% of total assets, had a spot yield of 3.31% and an effective duration of approximately 3.9 years. Additionally, at December 31, 2025, approximately 62% of the HTM securities were AAA rated and $0.3 billion were credit enhanced asset backed securities with no current expectation of credit losses.

Deposits

Total deposits increased $374 million to $20.8 billion at December 31, 2025 as compared to the prior quarter. The total average cost of deposits decreased by 23 basis points to 2.54% in Q4 2025 from 2.77% in the prior quarter. Total estimated uninsured deposits were $6.6 billion¹, or 32% of total deposits at December 31, 2025 with immediately available liquidity covering approximately 161% of these deposits.

Total deposits increased $1.9 billion to $20.8 billion at December 31, 2025 as compared to a year ago. The total average cost of deposits decreased by 53 basis points to 2.54% in Q4 2025 from 3.07% in Q4 2024.

____________________________________
¹		Uninsured deposits (estimate) of $8.6 billion to be reported on the Bank’s call report, less deposits of $1.8 billion collateralized by standby letters of credit from the FHLB and from our affiliates of $222 million.

Borrowings

Total borrowings increased $228.1 million, or 15.4% to $1.7 billion at December 31, 2025 as compared to the prior quarter. Total borrowings increased $295 million, or 21.0%, to $1.7 billion at December 31, 2025 as compared to a year ago. This increase primarily resulted from net draws of $130 million in FHLB advances and the issuance of $100 million in Customers Bancorp subordinated notes in Q4 2025.

Capital

Customers Bancorp’s common equity increased $72 million to $2.1 billion, and tangible common equity* increased $72 million to $2.1 billion, at December 31, 2025 compared to the prior quarter, respectively, primarily from earnings of $70 million. Customers Bancorp’s common equity increased $417 million to $2.1 billion, and tangible common equity* increased $417 million to $2.1 billion, at December 31, 2025 compared to a year ago, respectively, primarily from earnings of $209 million, the issuance of $163 million of common stock on September 5, 2025 and a decrease in AOCI of $43 million (net of taxes), mostly from decreased unrealized losses on investment securities, offset in part by $6 million of common share repurchases. Book value per common share increased to $61.87 from $59.83 and $54.20, and tangible book value per common share* increased to $61.77 from $59.72 and $54.08, at December 31, 2025 from September 30, 2025 and December 31, 2024, respectively.

Credit Quality

The provision for credit losses in Q4 2025 was $22 million, compared to $27 million in Q3 2025 and $21 million in Q4 2024.

Net charge-offs were $14 million in Q4 2025, compared to $15 million in Q3 2025 and Q4 2024.

The allowance for credit losses on loans and leases was $156 million at December 31, 2025, compared to $152 million at September 30, 2025 and $137 million at December 31, 2024.

Non-performing loans at December 31, 2025 increased to 0.26% of total loans and leases, compared to 0.17% at September 30, 2025 and decreased, compared to 0.30% at December 31, 2024. Nonperforming loans include the guaranteed portion of SBA loans. As of December 31, 2025, nonperforming loans totaled $44 million, of which $10 million represents the government-guaranteed portion. Excluding the government-guaranteed portion, nonperforming loans totaled $34 million, representing 0.20% of total loans and leases.

Key Profitability Trends

Net Interest Income

Net interest income totaled $204.4 million in Q4 2025, an increase of $2.5 million from Q3 2025. This increase was driven by a decrease in interest expense primarily due to a favorable shift in deposit mix and lower market interest rates.

“Net interest income continued to increase in the quarter despite a decline in market interest rates as we realized the benefits of loan growth, growth in average non-interest bearing and lower-cost deposits, and well managed funding costs,” stated Customers Bancorp CEO Sam Sidhu. “Our full year net interest income reached a record level in 2025. 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,” stated Sam Sidhu.

Net interest income totaled $204.4 million in Q4 2025, an increase of $36.6 million from Q4 2024. This increase was primarily due to higher interest income primarily due to higher average loan balances and higher discount accretion in C&I loans and lower interest expense from a favorable shift in deposit mix and lower market interest rates.

Non-Interest Income

Reported non-interest income totaled $32.5 million for Q4 2025, an increase of $2.3 million compared to $30.2 million for Q3 2025. The increase was primarily due to increases of $2.7 million in commercial lease income and other non-interest income of $3.9 million primarily from an increase of $2.0 million in gain on sale of leased assets and gains on certain derivatives. These increases were partially offset by a decrease of $4.0 million in loan fees mostly associated with the settlement of stock warrants in Q3 2025.

Non-interest income totaled $32.5 million for Q4 2025, an increase of $32.9 million compared to Q4 2024. The increase was primarily due to a decrease in net loss on sale of investment securities of $26.2 million and increases in commercial lease income of $3.6 million and gain on sale of leased assets of $2.6 million included in other non-interest income, partially offset by a decrease of $1.2 million in loan fees.

Non-Interest Expense

Non-interest expenses totaled $117.3 million in Q4 2025, an increase of $12.1 million compared to Q3 2025. The increase was primarily attributable to increases of $3.0 million in salaries and employee benefits primarily due to higher headcount and incentives and $2.2 million in commercial lease depreciation associated with the Bank’s continued growth, and within other non-interest expense of $2.8 million in provision for credit losses on unfunded lending commitments and $2.2 million in insurance expenses related to investments in tax credit structures with a corresponding benefit to income tax expense.

“We had a total of $4.8 million of expense that was unique to the quarter including $1.9 million of legal expense associated with a new team onboarding, $2.2 milliion of insurance expense on tax credit purchases with corresponding benefit to income tax expense, and $0.7 million of stock compensation and benefit expense. Additionally we had $2.2 million of higher commercial lease depreciation driven by higher volume which came with corresponding revenues. Even with these costs and investments we continue to make in our future our efficiency ratio remained very strong,” stated Customers Bancorp CFO Mark McCollom.

Non-interest expenses totaled $117.3 million in Q4 2025, an increase of $6.9 million compared to Q4 2024. The increase was primarily attributable to increases of $4.6 million in salaries and employee benefits and $2.7 million in commercial lease depreciation associated with the Bank’s continued growth, and within other non-interest expense of $2.7 million in provision for credit losses on unfunded lending commitments and $2.2 million in insurance expenses related to investments in tax credit structures with a corresponding benefit to income tax expense. These increases were partially offset by decreases of $2.0 million in technology, communication and bank operations primarily due to lower deposit servicing fees, fees paid to a fintech company related to a consumer installment loan origination program included within other non-interest expense, professional fees and FDIC assessments, non-income taxes and regulatory fees.

Taxes

Income tax expense decreased by $1.8 million to a provision of $22.8 million in Q4 2025 from $24.6 million in Q3 2025 primarily due to lower pre-tax income, and increased by $13.9 million from $8.9 million in Q4 2024 primarily due to higher pre-tax income, partially offset by a lower increase of unrecognized benefits in Q4 2025 as compared to Q4 2024. The effective tax rate was 23.4% for Q4 2025.

Outlook

“We were very pleased with our fourth quarter and full year results 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.

As we look forward to 2026 our priorities will evolve but broadly remain unchanged. We will look to continue to deliver above industry average loan and deposit portfolio growth. We will build upon our successful team recruitment strategy, with newly recruited teams supporting our future growth. We will seek to deepen and broaden our payments capabilities building upon the incredible foundation our team has laid over the past two years. And we will target increasing our utilization of AI and automation technologies to transform our organization by providing enhanced client experiences and organizational productivity. We will seek to do this while maintaining a strong capital base, liquidity, and credit quality.

For 2026 we are targeting loan growth of 8% to 12% and deposit growth of 8% to 12%, resulting in net interest income growing to $800 to $830 million. We project non-interest expenses of $440 to $460 million as we continue to make investments in our future, largely in people and technology, but remain focused on driving positive operating leverage even with these investments. For capital, we are targeting CET1 of 11.5% to 12.5% and expect a tax rate of 23% to 25%.

We believe we are incredibly well positioned to continue to improve market share, winning new client relationships and that we have the right strategy, the right team, and a client-centric culture to achieve our goals in 2026 and beyond,” concluded Sam Sidhu.

Webcast

Date:				Friday, January 23, 2026
Time:				9:00 AM EST

The live audio webcast, presentation slides, and earnings press release will be made available at https://www.customersbank.com and at the Customers Bancorp 4th Quarter Earnings Webcast.

You may submit questions in advance of the live webcast by emailing our Head of Corporate Communications, Jordan Baucum at jbaucum@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 over $24 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 or South America, 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, 2024, 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)	Q4			Q3			Q2			Q1			Q4			Twelve Months Ended December 31,
(Dollars in thousands, except per share data)	2025			2025			2025			2025			2024			2025			2024

GAAP Profitability Metrics:
Net income available to common shareholders	$	70,088		$	73,726		$	55,846		$	9,523		$	23,266		$	209,183		$	166,429
Per share amounts:
Earnings per share - diluted	$	1.98		$	2.20		$	1.73		$	0.29		$	0.71		$	6.26		$	5.09
Book value per common share	$	61.87		$	59.83		$	56.36		$	54.85		$	54.20		$	61.87		$	54.20
Return on average assets (“ROAA”)		1.20	%		1.26	%		1.09	%		0.23	%		0.48	%		0.96	%		0.85	%
Return on average common equity (“ROCE”)		13.28	%		15.57	%		12.79	%		2.23	%		5.50	%		11.22	%		10.36	%
Net interest margin, tax equivalent		3.40	%		3.46	%		3.27	%		3.13	%		3.11	%		3.32	%		3.15	%
Efficiency ratio		49.52	%		45.39	%		51.23	%		52.94	%		56.86	%		49.59	%		56.21	%
Non-GAAP Profitability Metrics ⁽¹⁾:
Core earnings	$	72,851		$	73,473		$	58,147		$	50,002		$	44,168		$	254,473		$	183,105
Per share amounts:
Core earnings per share - diluted	$	2.06		$	2.20		$	1.80		$	1.54		$	1.36		$	7.61		$	5.60
Tangible book value per common share	$	61.77		$	59.72		$	56.24		$	54.74		$	54.08		$	61.77		$	54.08
Core ROAA		1.19	%		1.25	%		1.10	%		0.97	%		0.86	%		1.13	%		0.92	%
Core ROCE		13.81	%		15.52	%		13.32	%		11.72	%		10.44	%		13.65	%		11.40	%
Core efficiency ratio		49.52	%		45.40	%		51.56	%		52.69	%		56.12	%		49.62	%		56.25	%
Balance Sheet Trends:
Total assets	$	24,895,868		$	24,260,163		$	22,550,800		$	22,423,044		$	22,308,241		$	24,895,868		$	22,308,241
Total cash and investment securities	$	7,078,243		$	6,997,783		$	6,234,043		$	6,424,406		$	6,797,562		$	7,078,243		$	6,797,562
Total loans and leases	$	16,782,516		$	16,303,147		$	15,412,400		$	15,097,968		$	14,653,556		$	16,782,516		$	14,653,556
Non-interest bearing demand deposits	$	6,303,748		$	6,380,879		$	5,481,065		$	5,552,605		$	5,608,288		$	6,303,748		$	5,608,288
Total deposits	$	20,778,704		$	20,405,023		$	18,976,018		$	18,932,925		$	18,846,461		$	20,778,704		$	18,846,461
Asset Quality:
Net charge-offs	$	13,749		$	15,371		$	13,115		$	17,144		$	14,612		$	59,379		$	68,335
Annualized net charge-offs to average total loans and leases		0.33	%		0.39	%		0.35	%		0.48	%		0.41	%		0.38	%		0.50	%
Nonaccrual / non-performing loans (“NPLs”)	$	43,688		$	28,421		$	28,443		$	43,513		$	43,275		$	43,688		$	43,275
NPLs to total loans and leases		0.26	%		0.17	%		0.18	%		0.29	%		0.30	%		0.26	%		0.30	%
Reserves to NPLs		356.29	%		534.14	%		518.29	%		324.22	%		316.06	%		356.29	%		316.06	%
Non-performing assets (“NPAs”)	$	72,344		$	61,057		$	60,778		$	57,960		$	55,807		$	72,344		$	55,807
NPAs to total assets		0.29	%		0.25	%		0.27	%		0.26	%		0.25	%		0.29	%		0.25	%


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
FINANCIAL HIGHLIGHTS - UNAUDITED (CONTINUED)

		Q4		Q3		Q2		Q1		Q4		Twelve Months Ended December 31,
(Dollars in thousands, except per share data)		2025		2025		2025		2025		2024		2025		2024

Capital Metrics:
Common equity to total assets		8.5	%	8.4	%	7.9	%	7.7	%	7.6	%	8.5	%	7.6	%
Tangible common equity to tangible assets ⁽¹⁾		8.5	%	8.4	%	7.9	%	7.7	%	7.6	%	8.5	%	7.6	%
Common equity Tier 1 capital ratio ⁽²⁾		13.0	%	13.00	%	12.05	%	11.72	%	12.09	%	13.0	%	12.09	%
Total risk based capital ratio ⁽²⁾		15.4	%	15.35	%	14.49	%	14.61	%	14.88	%	15.4	%	14.88	%
Customers Bank Capital Ratios ⁽²⁾:
Common equity Tier 1 capital to risk-weighted assets		13.3	%	13.22	%	13.00	%	12.40	%	12.96	%	13.3	%	12.96	%
Total capital to risk-weighted assets		14.6	%	14.60	%	14.43	%	13.92	%	14.34	%	14.6	%	14.34	%
Tier 1 capital to average assets (leverage ratio)		8.9	%	8.84	%	8.86	%	8.43	%	8.65	%	8.9	%	8.65	%
Share amounts:
Average shares outstanding - basic		34,170,777		32,340,813		31,585,390		31,447,623		31,346,920		32,393,487		31,509,179
Average shares outstanding - diluted		35,396,324		33,460,055		32,374,061		32,490,572		32,557,621		33,438,296		32,719,134
Shares outstanding		34,191,223		34,163,506		31,606,934		31,479,132		31,346,507		34,191,223		31,346,507

(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 Q4 2025 and actual for the remaining periods. In accordance with regulatory capital rules, Customers elected to apply the CECL capital transition provisions which delayed the effects of CECL on regulatory capital for two years until January 1, 2022, followed by a three-year transition period. The cumulative CECL capital transition impact as of December 31, 2021 which amounted to $61.6 million was phased in at 25% per year beginning on January 1, 2022 through December 31, 2024. As of December 31, 2025, our regulatory capital ratios reflected the full effect of CECL on regulatory capital.

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
(Dollars in thousands, except per share data)															Twelve Months Ended
	Q4			Q3		Q2			Q1			Q4			December 31,
	2025			2025		2025			2025			2024			2025			2024
Interest income:
Loans and leases	$	274,752		$	272,131	$	246,869		$	231,008		$	230,534		$	1,024,760		$	901,457
Investment securities		31,979			36,091		37,381			34,339			39,638			139,790			180,291
Interest earning deposits		44,862			49,639		39,972			42,914			48,147			177,387			190,842
Loans held for sale		1,432			1,589		1,806			4,761			9,447			9,588			46,073
Other		2,173			2,029		1,973			1,887			2,140			8,062			9,171
Total interest income		355,198			361,479		328,001			314,909			329,906			1,359,587			1,327,834

Interest expense:
Deposits		131,797			141,983		134,045			131,308			144,974			539,133			603,312
FHLB advances		14,490			12,945		12,717			11,801			12,595			51,953			52,107
Subordinated debt		3,355			3,251		3,229			3,212			3,349			13,047			12,309
Other borrowings		1,128			1,388		1,307			1,142			1,167			4,965			5,702
Total interest expense		150,770			159,567		151,298			147,463			162,085			609,098			673,430
Net interest income		204,428			201,912		176,703			167,446			167,821			750,489			654,404
Provision for credit losses		22,337			26,543		20,781			28,297			21,194			97,958			73,451
Net interest income after provision for credit losses		182,091			175,369		155,922			139,149			146,627			652,531			580,953

Non-interest income:
Commercial lease income		14,186			11,536		11,056			10,668			10,604			47,446			40,662
Loan fees		7,420			11,443		9,106			7,235			8,639			35,204			27,163
Bank-owned life insurance		2,189			2,165		2,249			4,660			2,125			11,263			9,442
Mortgage finance transactional fees		1,339			1,298		1,175			933			1,010			4,745			4,101
Net gain (loss) on sale of loans and leases		(62	)		—		—			2			(852	)		(60	)		(15,628	)
Net gain (loss) on sale of investment securities		(27	)		186		(1,797	)		—			(26,260	)		(1,638	)		(27,009	)
Impairment loss on debt securities		—			—		—			(51,319	)		—			(51,319	)		—
Unrealized gain on equity method investments		—			—		—			—			389			—			11,430
Other		7,471			3,563		7,817			3,331			3,954			22,182			10,273
Total non-interest income (loss)		32,516			30,191		29,606			(24,490	)		(391	)		67,823			60,434

Non-interest expense:
Salaries and employee benefits		51,744			48,723		45,848			42,674			47,147			188,989			175,836
Technology, communication and bank operations		11,388			10,415		10,382			11,312			13,435			43,497			65,154
Commercial lease depreciation		11,668			9,463		8,743			8,463			8,933			38,337			32,543
Professional services		12,390			12,281		13,850			11,857			13,473			50,378			34,978
Loan servicing		4,050			4,167		4,053			4,630			4,584			16,900			15,909
Occupancy		4,291			4,370		3,551			3,412			3,335			15,624			11,789
FDIC assessments, non-income taxes and regulatory fees		9,023			8,505		11,906			11,750			10,077			41,184			41,684
Advertising and promotion		812			636		461			528			1,645			2,437			4,489
Other		11,943			6,657		7,832			8,145			7,746			34,577			34,632
Total non-interest expense		117,309			105,217		106,626			102,771			110,375			431,923			417,014
Income before income tax expense (benefit)		97,298			100,343		78,902			11,888			35,861			288,431			224,373
Income tax expense (benefit)		22,806			24,598		17,963			(1,024	)		8,946			64,343			42,904
Net income		74,492			75,745		60,939			12,912			26,915			224,088			181,469
Preferred stock dividends		1,605			2,019		3,185			3,389			3,649			10,198			15,040
Loss on redemption of preferred stock		2,799			—		1,908			—			—			4,707			—
Net income available to common shareholders	$	70,088		$	73,726	$	55,846		$	9,523		$	23,266		$	209,183		$	166,429

Basic earnings per common share	$	2.05		$	2.28	$	1.77		$	0.30		$	0.74		$	6.46		$	5.28
Diluted earnings per common share		1.98			2.20		1.73			0.29			0.71			6.26			5.09


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET - UNAUDITED
(Dollars in thousands)
	December 31,			September 30,			June 30,			March 31,			December 31,
	2025			2025			2025			2025			2024
ASSETS
Cash and due from banks	$	62,051		$	57,951		$	72,986		$	62,146		$	56,787
Interest earning deposits		4,349,412			4,127,688			3,430,525			3,366,544			3,729,144
Cash and cash equivalents		4,411,463			4,185,639			3,503,511			3,428,690			3,785,931
Investment securities, at fair value		1,937,646			2,010,820			1,877,406			2,057,555			2,019,694
Investment securities held to maturity		729,134			801,324			853,126			938,161			991,937
Loans held for sale		26,102			30,897			32,963			37,529			204,794
Loans and leases receivable		15,041,340			14,673,636			13,719,829			13,555,820			13,127,634
Loans receivable, mortgage finance, at fair value		1,612,997			1,486,978			1,536,254			1,366,460			1,321,128
Loans receivable, installment, at fair value		102,077			111,636			123,354			138,159			—
Allowance for credit losses on loans and leases		(155,656	)		(151,809	)		(147,418	)		(141,076	)		(136,775	)
Total loans and leases receivable, net of allowance for credit losses on loans and leases		16,600,758			16,120,441			15,232,019			14,919,363			14,311,987
FHLB, Federal Reserve Bank, and other restricted stock		110,411			103,290			100,590			96,758			96,214
Accrued interest receivable		103,626			106,379			101,481			105,800			108,351
Bank premises and equipment, net		16,745			15,340			5,978			6,653			6,668
Bank-owned life insurance		305,503			303,212			300,747			298,551			297,641
Other real estate owned		12,432			12,432			12,306			—			—
Goodwill and other intangibles		3,629			3,629			3,629			3,629			3,629
Other assets		638,419			566,760			527,044			530,355			481,395
Total assets	$	24,895,868		$	24,260,163		$	22,550,800		$	22,423,044		$	22,308,241

LIABILITIES AND SHAREHOLDERS’ EQUITY
Demand, non-interest bearing deposits	$	6,303,748		$	6,380,879		$	5,481,065		$	5,552,605		$	5,608,288
Interest bearing deposits		14,474,956			14,024,144			13,494,953			13,380,320			13,238,173
Total deposits		20,778,704			20,405,023			18,976,018			18,932,925			18,846,461
FHLB advances		1,325,068			1,195,437			1,195,377			1,133,456			1,128,352
Other borrowings		99,208			99,173			99,138			99,103			99,068
Subordinated debt		281,147			182,718			182,649			182,579			182,509
Accrued interest payable and other liabilities		296,224			251,753			234,060			210,421			215,168
Total liabilities		22,780,351			22,134,104			20,687,242			20,558,484			20,471,558

Preferred stock		—			82,201			82,201			137,794			137,794
Common stock		36,189			36,161			36,123			35,995			35,758
Additional paid in capital		666,756			662,252			572,473			570,172			575,333
Retained earnings		1,535,194			1,465,106			1,391,380			1,335,534			1,326,011
Accumulated other comprehensive income (loss), net		(54,050	)		(51,089	)		(71,325	)		(67,641	)		(96,560	)
Treasury stock, at cost		(68,572	)		(68,572	)		(147,294	)		(147,294	)		(141,653	)
Total shareholders’ equity		2,115,517			2,126,059			1,863,558			1,864,560			1,836,683
Total liabilities and shareholders’ equity	$	24,895,868		$	24,260,163		$	22,550,800		$	22,423,044		$	22,308,241


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
AVERAGE BALANCE SHEET / NET INTEREST MARGIN - UNAUDITED
(Dollars in thousands)
		Three Months Ended
		December 31, 2025					September 30, 2025					December 31, 2024
		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		$	4,421,242	$	44,862	4.03%	$	4,409,220	$	49,639	4.47%	$	3,973,262	$	48,147	4.82%
Investment securities ⁽¹⁾			2,849,764		31,979	4.45%		2,931,351		36,091	4.88%		3,392,850		39,638	4.65%
Loans and leases:
Commercial & industrial:
Specialized lending loans and leases ⁽²⁾			7,775,247		139,552	7.12%		7,317,299		136,652	7.41%		6,022,062		121,818	8.05%
Other commercial & industrial loans ⁽²⁾			1,477,351		32,320	8.68%		1,492,155		35,475	9.43%		1,529,478		25,514	6.64%
Mortgage finance loans			1,536,265		17,862	4.61%		1,478,871		18,454	4.95%		1,316,884		16,704	5.05%
Multifamily loans			2,445,945		27,990	4.54%		2,306,373		25,931	4.46%		2,162,825		22,400	4.12%
Non-owner occupied commercial real estate loans			1,784,838		26,635	5.92%		1,635,937		24,148	5.86%		1,491,170		21,770	5.81%
Residential mortgages			541,091		6,392	4.69%		551,436		6,647	4.78%		535,833		6,301	4.68%
Installment loans			945,697		25,433	10.67%		938,890		26,413	11.16%		1,023,569		25,474	9.90%
Total loans and leases ⁽³⁾			16,506,434		276,184	6.64%		15,720,961		273,720	6.91%		14,081,821		239,981	6.78%
Other interest-earning assets			153,480		2,173	5.62%		140,011		2,029	5.75%		122,784		2,140	6.93%
Total interest-earning assets			23,930,920		355,198	5.89%		23,201,543		361,479	6.19%		21,570,717		329,906	6.09%
Non-interest-earning assets			790,453					729,180					609,253
Total assets		$	24,721,373				$	23,930,723				$	22,179,970
Liabilities
Interest checking accounts		$	4,889,245	$	42,168	3.42%	$	4,983,168	$	48,105	3.83%	$	5,597,302	$	57,268	4.07%
Money market deposit accounts			4,421,276		40,387	3.62%		4,360,446		42,980	3.91%		3,974,776		42,492	4.25%
Other savings accounts			1,562,768		14,384	3.65%		1,485,652		14,724	3.93%		1,258,018		12,939	4.09%
Certificates of deposit			3,152,637		34,858	4.39%		3,108,831		36,174	4.62%		2,612,246		32,275	4.92%
Total interest-bearing deposits ⁽⁴⁾			14,025,926		131,797	3.73%		13,938,097		141,983	4.04%		13,442,342		144,974	4.29%
Borrowings			1,666,006		18,973	4.52%		1,429,981		17,584	4.88%		1,364,138		17,111	4.99%
Total interest-bearing liabilities			15,691,932		150,770	3.81%		15,368,078		159,567	4.12%		14,806,480		162,085	4.36%
Non-interest-bearing deposits ⁽⁴⁾			6,599,095					6,362,360					5,346,912
Total deposits and borrowings			22,291,027			2.68%		21,730,438			2.91%		20,153,392			3.20%
Other non-interest-bearing liabilities			269,824					239,969					204,947
Total liabilities			22,560,851					21,970,407					20,358,339
Shareholders’ equity			2,160,522					1,960,316					1,821,631
Total liabilities and shareholders’ equity		$	24,721,373				$	23,930,723				$	22,179,970
Net interest income					204,428					201,912					167,821
Tax-equivalent adjustment					348					360					377
Net interest earnings				$	204,776				$	202,272				$	168,198
Interest spread						3.21%					3.27%					2.89%
Net interest margin						3.39%					3.46%					3.10%
Net interest margin tax equivalent ⁽⁵⁾						3.40%					3.46%					3.11%


(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 2.54%, 2.77% and 3.07% for the three months ended December 31, 2025, September 30, 2025 and December 31, 2024, respectively.
(5)	Tax-equivalent basis, using an estimated marginal tax rate of 26% for the three months ended December 31, 2025, September 30, 2025 and December 31, 2024, presented to approximate interest income as a taxable asset.

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
AVERAGE BALANCE SHEET / NET INTEREST MARGIN - UNAUDITED (CONTINUED)
(Dollars in thousands)
		Twelve Months Ended
		December 31, 2025					December 31, 2024
		Average Balance		Interest Income or Expense		Average Yield or Cost (%)	Average Balance		Interest Income or Expense		Average Yield or Cost (%)
Assets
Interest earning deposits		$	4,065,804	$	177,387	4.36%	$	3,597,260	$	190,842	5.31%
Investment securities ⁽¹⁾			2,942,386		139,790	4.75%		3,650,320		180,291	4.94%
Loans and leases:
Commercial & industrial:
Specialized lending loans and leases ⁽²⁾			7,092,259		524,009	7.39%		5,637,189		483,052	8.57%
Other commercial & industrial loans ⁽²⁾			1,499,021		117,590	7.84%		1,564,167		102,001	6.52%
Mortgage finance loans			1,443,183		69,417	4.81%		1,192,827		62,344	5.23%
Multifamily loans			2,336,288		102,866	4.40%		2,116,168		86,263	4.08%
Non-owner occupied commercial real estate loans			1,638,695		95,350	5.82%		1,412,201		83,484	5.91%
Residential mortgages			540,097		25,611	4.74%		526,133		24,046	4.57%
Installment loans			925,745		99,505	10.75%		1,104,470		106,340	9.63%
Total loans and leases ⁽³⁾			15,475,288		1,034,348	6.68%		13,553,155		947,530	6.99%
Other interest-earning assets			138,851		8,062	5.81%		114,983		9,171	7.98%
Total interest-earning assets			22,622,329		1,359,587	6.01%		20,915,718		1,327,834	6.35%
Non-interest-earning assets			718,415					518,472
Total assets		$	23,340,744				$	21,434,190
Liabilities
Interest checking accounts		$	5,040,107	$	187,421	3.72%	$	5,660,890	$	248,400	4.39%
Money market deposit accounts			4,202,317		161,531	3.84%		3,559,362		159,598	4.48%
Other savings accounts			1,382,787		52,566	3.80%		1,595,357		73,947	4.64%
Certificates of deposit			2,967,454		137,615	4.64%		2,434,622		121,367	4.99%
Total interest-bearing deposits ⁽⁴⁾			13,592,665		539,133	3.97%		13,250,231		603,312	4.55%
Borrowings			1,465,852		69,965	4.77%		1,414,583		70,118	4.96%
Total interest-bearing liabilities			15,058,517		609,098	4.04%		14,664,814		673,430	4.59%
Non-interest-bearing deposits ⁽⁴⁾			6,069,665					4,807,647
Total deposits and borrowings			21,128,182			2.88%		19,472,461			3.46%
Other non-interest-bearing liabilities			244,480					217,172
Total liabilities			21,372,662					19,689,633
Shareholders’ equity			1,968,082					1,744,557
Total liabilities and shareholders’ equity		$	23,340,744				$	21,434,190
Net interest income					750,489					654,404
Tax-equivalent adjustment					1,437					1,556
Net interest earnings				$	751,926				$	655,960
Interest spread						3.13%					2.89%
Net interest margin						3.32%					3.14%
Net interest margin tax equivalent ⁽⁵⁾						3.32%					3.15%


(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 2.74% and 3.34% for the twelve months ended December 31, 2025 and 2024, respectively.
(5)	Tax-equivalent basis, using an estimated marginal tax rate of 26% for the twelve months ended December 31, 2025 and 2024, presented to approximate interest income as a taxable asset.

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
PERIOD END LOAN AND LEASE COMPOSITION - UNAUDITED
(Dollars in thousands)
	December 31,		September 30,		June 30,		March 31,		December 31,
	2025		2025		2025		2025		2024
Loans and leases held for investment
Commercial:
Commercial & industrial:
Specialized lending	$	7,090,087	$	7,083,620	$	6,454,661	$	6,070,093	$	5,842,420
Other commercial & industrial		1,033,704		1,056,173		1,037,684		1,062,933		1,062,631
Mortgage finance		1,700,380		1,577,038		1,625,764		1,477,896		1,440,847
Multifamily		2,490,336		2,356,590		2,247,282		2,322,123		2,252,246
Commercial real estate owner occupied		1,135,119		1,058,741		1,065,006		1,139,126		1,100,944
Commercial real estate non-owner occupied		1,738,821		1,582,332		1,497,385		1,438,906		1,359,130
Construction		162,966		123,290		98,626		154,647		147,209
Total commercial loans and leases		15,351,413		14,837,784		14,026,408		13,665,724		13,205,427
Consumer:
Residential		497,567		514,544		520,570		496,772		496,559
Manufactured housing		27,452		28,749		30,287		31,775		33,123
Installment:
Personal		581,340		570,768		457,728		493,276		463,854
Other		298,642		320,405		344,444		372,892		249,799
Total installment loans		879,982		891,173		802,172		866,168		713,653
Total consumer loans		1,405,001		1,434,466		1,353,029		1,394,715		1,243,335
Total loans and leases held for investment	$	16,756,414	$	16,272,250	$	15,379,437	$	15,060,439	$	14,448,762

Loans held for sale
Commercial:
Commercial real estate non-owner occupied	$	—	$	4,700	$	—	$	—	$	—
Total commercial loans and leases		—		4,700		—		—		—
Consumer:
Residential		1,851		2,229		5,180		1,465		1,836
Installment:
Personal		23,357		23,728		27,682		36,000		40,903
Other		894		240		101		64		162,055
Total installment loans		24,251		23,968		27,783		36,064		202,958
Total consumer loans		26,102		26,197		32,963		37,529		204,794
Total loans held for sale	$	26,102	$	30,897	$	32,963	$	37,529	$	204,794

Total loans and leases portfolio	$	16,782,516	$	16,303,147	$	15,412,400	$	15,097,968	$	14,653,556


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
PERIOD END DEPOSIT COMPOSITION - UNAUDITED
(Dollars in thousands)
	December 31,		September 30,		June 30,		March 31,		December 31,
	2025		2025		2025		2025		2024

Demand, non-interest bearing	$	6,303,748	$	6,380,879	$	5,481,065	$	5,552,605	$	5,608,288
Demand, interest bearing		5,049,151		5,050,437		4,912,839		5,137,961		5,553,698
Total demand deposits		11,352,899		11,431,316		10,393,904		10,690,566		11,161,986
Savings		1,731,010		1,554,533		1,375,072		1,327,854		1,131,819
Money market		4,398,827		4,339,371		4,206,516		4,057,458		3,844,451
Time deposits		3,295,968		3,079,803		3,000,526		2,857,047		2,708,205
Total deposits	$	20,778,704	$	20,405,023	$	18,976,018	$	18,932,925	$	18,846,461


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
ASSET QUALITY - UNAUDITED
(Dollars in thousands)
	As of December 31, 2025						As of September 30, 2025						As of December 31, 2024
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	$	8,211,174	$	37,683	0.46	%	$	8,229,853	$	34,395	0.42	%	$	7,024,770	$	29,379	0.42	%
Multifamily		2,490,336		19,333	0.78	%		2,356,590		19,973	0.85	%		2,252,246		18,511	0.82	%
Commercial real estate owner occupied		1,135,119		10,431	0.92	%		1,058,741		10,991	1.04	%		1,100,944		10,755	0.98	%
Commercial real estate non-owner occupied		1,738,821		18,928	1.09	%		1,582,332		19,784	1.25	%		1,359,130		17,405	1.28	%
Construction		162,966		2,225	1.37	%		123,290		1,978	1.60	%		147,209		1,250	0.85	%
Total commercial loans and leases receivable		13,738,416		88,600	0.64	%		13,350,806		87,121	0.65	%		11,884,299		77,300	0.65	%

Consumer:
Residential		497,567		6,499	1.31	%		514,544		6,345	1.23	%		496,559		5,968	1.20	%
Manufactured housing		27,452		3,391	12.35	%		28,749		3,508	12.20	%		33,123		3,829	11.56	%
Installment		777,905		57,166	7.35	%		779,537		54,835	7.03	%		713,653		49,678	6.96	%
Total consumer loans receivable		1,302,924		67,056	5.15	%		1,322,830		64,688	4.89	%		1,243,335		59,475	4.78	%

Loans and leases receivable held for investment		15,041,340		155,656	1.03	%		14,673,636		151,809	1.03	%		13,127,634		136,775	1.04	%

Loans receivable, mortgage finance, at fair value		1,612,997		—	—	%		1,486,978		—	—	%		1,321,128		—	—	%
Loans receivable, installment, at fair value		102,077		—	—	%		111,636		—	—	%		—		—	—	%
Loans held for sale		26,102		—	—	%		30,897		—	—	%		204,794		—	—	%

Total loans and leases portfolio	$	16,782,516	$	155,656	0.93	%	$	16,303,147	$	151,809	0.93	%	$	14,653,556	$	136,775	0.93	%


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
ASSET QUALITY - UNAUDITED (CONTINUED)
(Dollars in thousands)
	As of December 31, 2025						As of September 30, 2025						As of December 31, 2024
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	$	19,790	0.24	%	190.41	%	$	4,430	0.05	%	776.41	%	$	4,041	0.06	%	727.02	%
Multifamily		2,092	0.08	%	924.14	%		—	—	%	—	%		11,834	0.53	%	156.42	%
Commercial real estate owner occupied		3,876	0.34	%	269.12	%		3,932	0.37	%	279.53	%		8,090	0.73	%	132.94	%
Commercial real estate non-owner occupied		168	0.01	%	11266.67	%		—	—	%	—	%		354	0.03	%	4916.67	%
Construction		—	—	%	—	%		—	—	%	—	%		—	—	%	—	%
Total commercial loans and leases receivable		25,926	0.19	%	341.74	%		8,362	0.06	%	1041.87	%		24,319	0.20	%	317.86	%

Consumer:
Residential		9,671	1.94	%	67.20	%		7,631	1.48	%	83.15	%		8,714	1.75	%	68.49	%
Manufactured housing		1,192	4.34	%	284.48	%		1,315	4.57	%	266.77	%		1,852	5.59	%	206.75	%
Installment		4,483	0.58	%	1275.17	%		4,225	0.54	%	1297.87	%		5,613	0.79	%	885.05	%
Total consumer loans receivable		15,346	1.18	%	436.96	%		13,171	1.00	%	491.14	%		16,179	1.30	%	367.61	%

Loans and leases receivable		41,272	0.27	%	377.15	%		21,533	0.15	%	705.01	%		40,498	0.31	%	337.73	%

Loans receivable, mortgage finance, at fair value		—	—	%	—	%		—	—	%	—	%		—	—	%	—	%
Loans receivable, installment, at fair value		2,137	2.09	%	—	%		1,872	1.68	%	—	%		—	—	%	—	%
Loans held for sale		279	1.07	%	—	%		5,016	16.23	%	—	%		2,777	1.36	%	—	%

Total loans and leases portfolio	$	43,688	0.26	%	356.29	%	$	28,421	0.17	%	534.14	%	$	43,275	0.30	%	316.06	%


CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
NET CHARGE-OFFS/(RECOVERIES) - UNAUDITED
(Dollars in thousands)
	Q4			Q3		Q2			Q1			Q4			Twelve Months Ended December 31,
	2025			2025		2025			2025			2024			2025			2024
Loan type
Commercial & industrial, including specialized lending	$	1,620		$	2,180	$	3,871		$	3,231		$	3,653		$	10,902		$	18,046
Multifamily		4,612			—		—			3,834			—			8,446			4,073
Commercial real estate owner occupied		(40	)		335		411			16			339			722			365
Commercial real estate non-owner occupied		(225	)		3,073		—			—			145			2,848			145
Construction		—			—		(3	)		(3	)		—			(6	)		(10	)
Residential		16			25		(4	)		—			(18	)		37			(41	)
Installment		7,766			9,758		8,840			10,066			10,493			36,430			45,757
Total net charge-offs (recoveries) from loans held for investment	$	13,749		$	15,371	$	13,115		$	17,144		$	14,612		$	59,379		$	68,335

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
LOANS AND LEASES RISK RATINGS - UNAUDITED
(Dollars in thousands)
		December 31,		September 30,		June 30,		March 31,		December 31,
		2025		2025		2025		2025		2024
Loans and leases ⁽¹⁾ risk ratings:
Commercial loans and leases
Pass		$	13,316,507	$	12,927,467	$	12,047,656	$	11,815,403	$	11,403,930
Special Mention			216,462		187,794		174,587		189,155		175,055
Substandard			200,779		230,079		256,849		276,018		282,563
Total commercial loans and leases			13,733,748		13,345,340		12,479,092		12,280,576		11,861,548
Consumer loans
Performing			1,287,408		1,308,987		1,209,377		1,242,753		1,227,359
Non-performing			15,516		13,843		20,298		13,803		15,976
Total consumer loans			1,302,924		1,322,830		1,229,675		1,256,556		1,243,335
Loans and leases receivable ⁽¹⁾		$	15,036,672	$	14,668,170	$	13,708,767	$	13,537,132	$	13,104,883

(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.

																													Twelve Months Ended December 31,
*Core Earnings - Customers Bancorp*	Q4 2025					Q3 2025						Q2 2025						Q1 2025					Q4 2024						2025						2024
(Dollars in thousands, except per share data)	USD			Per share		USD			Per share			USD			Per share			USD			Per share		USD			Per share			USD			Per share			USD			Per share
GAAP net income to common shareholders	$	70,088		$	1.98	$	73,726		$	2.20		$	55,846		$	1.73		$	9,523		$	0.29	$	23,266		$	0.71		$	209,183		$	6.26		$	166,429		$	5.09
Reconciling items (after tax):
Severance expense		—			—		—			—			—			—			—			—		1,198			0.04			—			—			3,666			0.11
Impairment loss on debt securities		—			—		—			—			—			—			39,875			1.23		—			—			39,875			1.19			—			—
Legal settlement		—			—		—			—			—			—			—			—		157			0.00			—			—			157			0.00
(Gains) losses on investment securities		(36	)		0.00		(253	)		(0.01	)		1,388			0.04			(124	)		0.00		20,035			0.62			975			0.03			20,331			0.62
Derivative credit valuation adjustment		—			—		—			—			—			—			210			0.01		(306	)		(0.01	)		210			0.01			4			0.00
FDIC special assessment		—			—		—			—			—			—			—			—		—			—			—			—			518			0.02
Unrealized (gain) on equity method investments		—			—		—			—			—			—			—			—		(292	)		(0.01	)		—			—			(8,608	)		(0.26	)
Loss on redemption of preferred stock		2,799			0.08		—			—			1,908			0.06			—			—		—			—			4,707			0.14			—			—
Unrealized (gain) loss on loans held for sale		—			—		—			—			(223	)		(0.01	)		518			0.02		110			0.00			295			0.01			608			0.02
Loan program termination fees		—			—		—			—			(772	)		(0.02	)		—			—		—			—			(772	)		(0.02	)		—			—
Core earnings	$	72,851		$	2.06	$	73,473		$	2.20		$	58,147		$	1.80		$	50,002		$	1.54	$	44,168		$	1.36		$	254,473		$	7.61		$	183,105		$	5.60

*Core Return on Average Assets - Customers Bancorp*																Twelve Months Ended December 31,
(Dollars in thousands, except per share data)	Q4 2025			Q3 2025			Q2 2025			Q1 2025			Q4 2024				2025			2024
GAAP net income	$	74,492		$	75,745		$	60,939		$	12,912		$	26,915		$	224,088		$	181,469
Reconciling items (after tax):
Severance expense		—			—			—			—			1,198			—			3,666
Impairment loss on debt securities		—			—			—			39,875			—			39,875			—
Legal settlement		—			—			—			—			157			—			157
(Gains) losses on investment securities		(36	)		(253	)		1,388			(124	)		20,035			975			20,331
Derivative credit valuation adjustment		—			—			—			210			(306	)		210			4
FDIC special assessment		—			—			—			—			—			—			518
Unrealized (gain) on equity method investments		—			—			—			—			(292	)		—			(8,608	)
Unrealized (gain) loss on loans held for sale		—			—			(223	)		518			110			295			608
Loan program termination fees		—			—			(772	)		—			—			(772	)		—
Core net income	$	74,456		$	75,492		$	61,332		$	53,391		$	47,817		$	264,671		$	198,145


Average total assets	$	24,721,373		$	23,930,723		$	22,362,989		$	22,314,963		$	22,179,970		$	23,340,744		$	21,434,190

Core return on average assets		1.19	%		1.25	%		1.10	%		0.97	%		0.86	%		1.13	%		0.92	%

*Core Return on Average Common Equity - Customers Bancorp*																Twelve Months Ended December 31,
(Dollars in thousands, except per share data)	Q4 2025			Q3 2025			Q2 2025			Q1 2025			Q4 2024				2025			2024
GAAP net income to common shareholders	$	70,088		$	73,726		$	55,846		$	9,523		$	23,266		$	209,183		$	166,429
Reconciling items (after tax):
Severance expense		—			—			—			—			1,198			—			3,666
Impairment loss on debt securities		—			—			—			39,875			—			39,875			—
Legal settlement		—			—			—			—			157			—			157
(Gains) losses on investment securities		(36	)		(253	)		1,388			(124	)		20,035			975			20,331
Derivative credit valuation adjustment		—			—			—			210			(306	)		210			4
FDIC special assessment		—			—			—			—			—			—			518
Unrealized (gain) on equity method investments		—			—			—			—			(292	)		—			(8,608	)
Loss on redemption of preferred stock		2,799			—			1,908			—			—			4,707			—
Unrealized (gain) loss on loans held for sale		—			—			(223	)		518			110			295			608
Loan program termination fees		—			—			(772	)		—			—			(772	)		—
Core earnings	$	72,851		$	73,473		$	58,147		$	50,002		$	44,168		$	254,473		$	183,105


Average total common shareholders’ equity	$	2,093,510		$	1,878,115		$	1,751,037		$	1,730,910		$	1,683,838		$	1,864,426		$	1,606,764

Core return on average common equity		13.81	%		15.52	%		13.32	%		11.72	%		10.44	%		13.65	%		11.40	%

*Core Efficiency Ratio - Customers Bancorp*																	Twelve Months Ended December 31,
(Dollars in thousands, except per share data)		Q4 2025			Q3 2025			Q2 2025			Q1 2025			Q4 2024				2025			2024
GAAP net interest income		$	204,428		$	201,912		$	176,703		$	167,446		$	167,821		$	750,489		$	654,404

GAAP non-interest income (loss)		$	32,516		$	30,191		$	29,606		$	(24,490	)	$	(391	)	$	67,823		$	60,434
(Gains) losses on investment securities			(47	)		(334	)		1,797			(160	)		26,678			1,256			27,103
Derivative credit valuation adjustment			—			—			—			270			(407	)		270			(17	)
Unrealized (gain) on equity method investments			—			—			—			—			(389	)		—			(11,430	)
Unrealized (gain) loss on loans held for sale			—			—			(289	)		667			147			378			754
Impairment loss on debt securities			—			—			—			51,319			—			51,319			—
Loan program termination fees			—			—			(1,000	)		—			—			(1,000	)		—
Core non-interest income			32,469			29,857			30,114			27,606			25,638			120,046			76,844
Core revenue		$	236,897		$	231,769		$	206,817		$	195,052		$	193,459		$	870,535		$	731,248


GAAP non-interest expense		$	117,309		$	105,217		$	106,626		$	102,771		$	110,375		$	431,923		$	417,014
Severance expense			—			—			—			—			(1,595	)		—			(4,814	)
FDIC special assessment			—			—			—			—			—			—			(683	)
Legal settlement			—			—			—			—			(209	)		—			(209	)
Core non-interest expense		$	117,309		$	105,217		$	106,626		$	102,771		$	108,571		$	431,923		$	411,308


Core efficiency ratio ⁽¹⁾			49.52	%		45.40	%		51.56	%		52.69	%		56.12	%		49.62	%		56.25	%


(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)	Q4 2025			Q3 2025			Q2 2025			Q1 2025			Q4 2024
GAAP total shareholders’ equity	$	2,115,517		$	2,126,059		$	1,863,558		$	1,864,560		$	1,836,683
Reconciling items:
Preferred stock		—			(82,201	)		(82,201	)		(137,794	)		(137,794	)
Goodwill and other intangibles		(3,629	)		(3,629	)		(3,629	)		(3,629	)		(3,629	)
Tangible common equity	$	2,111,888		$	2,040,229		$	1,777,728		$	1,723,137		$	1,695,260

GAAP total assets	$	24,895,868		$	24,260,163		$	22,550,800		$	22,423,044		$	22,308,241
Reconciling items:
Goodwill and other intangibles		(3,629	)		(3,629	)		(3,629	)		(3,629	)		(3,629	)
Tangible assets	$	24,892,239		$	24,256,534		$	22,547,171		$	22,419,415		$	22,304,612

Tangible common equity to tangible assets		8.5	%		8.4	%		7.9	%		7.7	%		7.6	%

*Tangible Book Value per Common Share - Customers Bancorp*

(Dollars in thousands, except share and per share data)	Q4 2025			Q3 2025			Q2 2025			Q1 2025			Q4 2024
GAAP total shareholders’ equity	$	2,115,517		$	2,126,059		$	1,863,558		$	1,864,560		$	1,836,683
Reconciling Items:
Preferred stock		—			(82,201	)		(82,201	)		(137,794	)		(137,794	)
Goodwill and other intangibles		(3,629	)		(3,629	)		(3,629	)		(3,629	)		(3,629	)
Tangible common equity	$	2,111,888		$	2,040,229		$	1,777,728		$	1,723,137		$	1,695,260

Common shares outstanding		34,191,223			34,163,506			31,606,934			31,479,132			31,346,507

Tangible book value per common share	$	61.77		$	59.72		$	56.24		$	54.74		$	54.08

View source version on businesswire.com: https://www.businesswire.com/news/home/20260122199990/en/

Jordan Baucum, Head of Corporate Communications 951-608-8314

Source: Customers Bancorp, Inc.

_______________________________________________________________

Non-GAAP measure. Customers’ reasons for the use of the non-GAAP measure and a detailed reconciliation between the non-GAAP measure and the comparable GAAP amount is included at the end of this document.

Core earnings exclude loss on redemption of preferred stock of $2.8 million and pre-tax losses on investment securities of $47.0 thousand.

Regulatory capital ratios as of December 31, 2025 are estimates.