$CUBI
Customers Bancorp Inc

2014 Q3 Form 10-Q Financial Statement

#000119312514403351 Filed on November 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $51.30M $33.75M
YoY Change 52.02% 20.68%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $2.297M $1.121M
YoY Change 104.91% 60.37%
% of Gross Profit
Depreciation & Amortization $1.000M $800.0K
YoY Change 25.0% 14.29%
% of Gross Profit
Operating Expenses $2.297M $1.121M
YoY Change 104.91% 60.37%
Operating Profit
YoY Change
Interest Expense $11.08M $6.547M
YoY Change 69.3% 21.08%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $15.60M $12.76M
YoY Change 22.25% 25.0%
Income Tax $3.940M $4.494M
% Of Pretax Income 25.25% 35.21%
Net Earnings $11.66M $8.268M
YoY Change 41.05% 24.59%
Net Earnings / Revenue 22.73% 24.5%
Basic Earnings Per Share $0.44 $0.30
Diluted Earnings Per Share $0.42 $0.30
COMMON SHARES
Basic Shares Outstanding 26.73M shares 27.15M shares
Diluted Shares Outstanding 27.98M shares 27.87M shares

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $331.3M $255.7M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $11.15M $11.06M
YoY Change 0.83% 10.55%
Goodwill $3.667M $3.680M
YoY Change -0.35%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $6.532B $3.925B
YoY Change 66.43% 47.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.00M $56.00M
YoY Change -60.71% 833.33%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.00M $56.00M
YoY Change -60.71% 833.33%
LONG-TERM LIABILITIES
Long-Term Debt $200.0M $237.0M
YoY Change -15.61% 523.68%
Other Long-Term Liabilities $6.000M
YoY Change
Total Long-Term Liabilities $206.0M $237.0M
YoY Change -13.08% 523.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.00M $56.00M
Total Long-Term Liabilities $206.0M $237.0M
Total Liabilities $6.107B $3.536B
YoY Change 72.69% 47.77%
SHAREHOLDERS EQUITY
Retained Earnings $55.25M $62.00M
YoY Change -10.89%
Common Stock $27.27M $24.74M
YoY Change 10.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.254M $500.0K
YoY Change 1550.8%
Treasury Stock Shares 532.3K shares 47.62K shares
Shareholders Equity $425.8M $388.9M
YoY Change
Total Liabilities & Shareholders Equity $6.532B $3.925B
YoY Change 66.43% 47.89%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $11.66M $8.268M
YoY Change 41.05% 24.59%
Depreciation, Depletion And Amortization $1.000M $800.0K
YoY Change 25.0% 14.29%
Cash From Operating Activities -$159.5M $551.3M
YoY Change -128.93% -161.99%
INVESTING ACTIVITIES
Capital Expenditures -$700.0K -$1.400M
YoY Change -50.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities -$660.2M -$574.8M
YoY Change 14.86% -202.75%
Cash From Investing Activities -$660.9M -$576.3M
YoY Change 14.68% -203.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 886.1M 74.90M
YoY Change 1083.04% -79.54%
NET CHANGE
Cash From Operating Activities -159.5M 551.3M
Cash From Investing Activities -660.9M -576.3M
Cash From Financing Activities 886.1M 74.90M
Net Change In Cash 65.70M 49.90M
YoY Change 31.66% 40.96%
FREE CASH FLOW
Cash From Operating Activities -$159.5M $551.3M
Capital Expenditures -$700.0K -$1.400M
Free Cash Flow -$158.8M $552.7M
YoY Change -128.73% -162.2%

Facts In Submission

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FederalDepositInsuranceCorporationIndemnificationAssetEffectOnProvisionForLoanLosses
1813000
CY2014Q3 cubi Fdic Assessments Taxes And Regulatory Fees
FdicAssessmentsTaxesAndRegulatoryFees
3320000
CY2014Q3 cubi Loan Workout
LoanWorkout
388000
CY2014Q3 cubi Cash Inflows From Fdic On Loss Sharing Agreements
CashInflowsFromFdicOnLossSharingAgreements
1852000
CY2014Q3 cubi Fdic Indemnification Asset Other Period Increase Decrease
FdicIndemnificationAssetOtherPeriodIncreaseDecrease
741000

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