Welcome to our dedicated page for Customers Bancorp news (Ticker: CUBI), a resource for investors and traders seeking the latest updates and insights on Customers Bancorp stock.
Customers Bancorp, Inc. reports developments tied to its role as the bank holding company for Customers Bank, a regulated banking subsidiary serving commercial, corporate and consumer clients. Recurring updates include quarterly earnings, deposit growth, credit quality, capital ratios, securities portfolio positioning and common stock repurchase activity.
Company news also covers Customers Bank's lending and banking services, including C&I, commercial real estate, residential and personal lending, fund finance, venture banking, healthcare, mortgage finance, equipment finance, payments, treasury, title and escrow services. Other recurring themes include technology-enabled banking partnerships, customer-service operating initiatives, executive appointments, governance matters and industry recognition.
Customers Bancorp reported a record net income of $300.1 million for 2021, representing an increase of 153% from 2020, with diluted earnings per share at $8.91. Q4 2021 net income was $98.6 million, up 87% year over year. Key metrics include a 48% rise in deposits to $16.8 billion and a 33% increase in tangible book value per share to $37.21. The company expects core earnings of $4.75 - $5.00 for 2022 and over $6.00 in 2023, driven by robust loan growth and a successful launch of its blockchain payment system.
Customers Bancorp, Inc. (NYSE: CUBI) will conduct a webcast on January 25, 2022, at 9:00 AM EST to discuss its earnings for Q4 and the full year 2021. The earnings press release will be available after market close on January 24, 2022. Key executives including CEO Jay Sidhu will participate in the call. Customers Bancorp operates Customers Bank, a full-service bank with $19.1 billion in assets as of September 30, 2021, providing various banking services and blockchain-based digital payments to clients.
Customers Bank, a leading digital bank with $19.1 billion in assets, has enhanced its Digital Asset Banking Team by hiring seven industry experts from Silvergate Capital. This strategic move aims to bolster its services for commercial cryptocurrency clients. CEO Sam Sidhu highlighted the bank's commitment to becoming a premier financial partner in the digital asset space. Following the soft launch of the Customers Bank Instant Token (CBITTM), the bank reported $1.5 billion in non-interest bearing deposits and plans to further expand its crypto client base in 2022.
Customers Bank, a top 100 digital-forward bank with $20 billion in assets, has undergone a significant rebranding to enhance its fintech identity. The bank has facilitated $10 billion in Paycheck Protection Program loans and launched a new blockchain payment platform, attracting $1.5 billion in deposits. This strategic shift aims to position the bank nationally and appeal to younger, tech-savvy clients. The new branding reflects a modern approach to banking while maintaining its foundational values.
Customers Bancorp, Inc. (NYSE: CUBI) has declared a quarterly cash dividend of $0.33215 per share on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E, payable on December 15, 2021, to shareholders of record on November 30, 2021. Additionally, a dividend of $0.375 per share has been announced for Series F, also payable on December 15, 2021. Customers Bank, a subsidiary, has assets of approximately $19.1 billion as of September 30, 2021.
Customers Bank, a subsidiary of Customers Bancorp (NYSE: CUBI), has announced its inaugural list of institutional crypto clients, solidifying its position within the growing crypto financial services sector. The bank is focused on providing fiat currency transactions for institutional clients and has onboarded key players including Genesis Global Trading, Blockfills, GSR, and SFOX. With $1.5 billion of zero-cost deposits reported in Q3 and a commitment to enhancing capital efficiency via its CBIT™ token, Customers Bank aims to expand its services across various sectors, projecting exponential growth in digital asset transactions.
Customers Bancorp (CUBI) reported Q3 2021 net income of $110.2 million, or $3.25 per diluted share, marking a 120% increase from Q3 2020. Core earnings reached $113.9 million, up 178% year-over-year. Total deposits rose by 56.6% to $17.0 billion, driven by a $1.5 billion influx from the new Customers Bank Instant Token (CBIT) for blockchain payments. The bank's net interest margin improved to 4.59%, while the efficiency ratio significantly decreased to 33.42%. Despite growth, a $13.2 million provision for credit losses was noted. Customers remains optimistic about future earnings and growth opportunities.
Customers Bank, a subsidiary of Customers Bancorp (NYSE: CUBI), has launched the Customers Bank Instant Token (CBIT) on the TassatPay platform. This blockchain-based service aims to provide real-time payments for B2B clients, reducing payment risks and delays. The platform is designed for diverse sectors including trading, real estate, and logistics, with a focus on enhancing digital payment solutions. Customers Bank anticipates attracting significant deposits as a result of this initiative, positioning itself at the forefront of modern financial services.
Customers Bancorp, Inc. (NYSE: CUBI), the parent company of Customers Bank (OTC-PINK: USBK), will host a webcast on October 28, 2021, at 9:00 AM EDT to discuss earnings results for the period ending September 30, 2021. The earnings press release will be available after the market closes on October 27, 2021. The webcast will feature key executives, including Chair & CEO Jay Sidhu, and will be accessible via the Customers Bank Investor Relations webpage.
Customers Bancorp, Inc. (NYSE: CUBI) has authorized a new share repurchase program to buy back up to 10% of its outstanding common stock, aiming to enhance shareholder value. The company anticipates core earnings per share between $7.00 and $8.00 for 2021, projecting a book value of up to $37.00 per share by year-end. Additionally, the bank expects to launch its Real Time Payments system by Q3 2021. The repurchase plan will consider factors like capital position, liquidity, and market conditions.