Customers Bancorp, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 25, 2019 at 02:45 am IST
Share
Customers Bancorp, Inc. announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced net interest income was USD 61.524 million compared to USD 68.300 million a year ago. Net income was USD 17.862 million compared to USD 21.615 million a year ago. Basic earnings per share was USD 0.45 compared to USD 0.58 a year ago. Diluted earnings per share was USD 0.44 compared to USD 0.55 a year ago.
For the full year, net interest income was USD 257.877 million compared to USD 267.343 million a year ago. Net income was USD 71.695 million compared to USD 78.837 million a year ago. Basic earnings per share was USD 1.81 compared to USD 2.1 a year ago. Diluted earnings per share was USD 1.78 compared to USD 1.97 a year ago.
Customers Bancorp, Inc. is a bank holding company, which is engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides banking products, primarily loans and deposits, to businesses and consumers through its branches, limited production offices and administrative offices in Berks County and Southeastern Pennsylvania, New York, Hamilton, New Jersey, Boston, Massachusetts, and other geographies. The Bank administratively supports loans and other financial products, including equipment finance leases, to customers. It also offers venture banking loan portfolios. The Bank serves specialty businesses nationwide, including its commercial loans to mortgage companies, commercial equipment financing, SBA lending, specialty lending and consumer loans through relationships with fintech companies. The Bankâs specialty lending includes fund finance, real estate specialty finance, technology and venture, healthcare, and financial institutions group.
CUSTOMERS BANCORP, INC. 
