2018 Q1 Form 10-Q Financial Statement

#000148881318000018 Filed on May 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $96.96M $83.09M
YoY Change 16.69% 13.21%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $9.943M $9.916M
YoY Change 0.27% 315.77%
% of Gross Profit
Depreciation & Amortization $3.300M $1.500M
YoY Change 120.0% 87.5%
% of Gross Profit
Operating Expenses $9.943M $9.916M
YoY Change 0.27% 315.77%
Operating Profit
YoY Change
Interest Expense $31.93M $20.68M
YoY Change 54.44% 31.1%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $31.54M $32.76M
YoY Change -3.7% 20.27%
Income Tax $7.402M $7.009M
% Of Pretax Income 23.47% 21.4%
Net Earnings $24.14M $25.75M
YoY Change -6.23% 41.59%
Net Earnings / Revenue 24.9% 30.99%
Basic Earnings Per Share $0.65 $0.73
Diluted Earnings Per Share $0.64 $0.67
COMMON SHARES
Basic Shares Outstanding 31.42M shares 30.41M shares
Diluted Shares Outstanding 32.27M shares 32.79M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $215.4M $177.3M
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 $11.56M $11.83M
YoY Change -2.32% -4.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $73.00M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $10.77B $9.907B
YoY Change 8.71% 9.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.00M $30.00M
YoY Change 73.33% 11.11%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $195.0M $215.0M
YoY Change -9.3% 168.75%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $52.00M $30.00M
YoY Change 73.33% 11.11%
LONG-TERM LIABILITIES
Long-Term Debt $296.0M $196.0M
YoY Change 51.02% 0.51%
Other Long-Term Liabilities $13.00M $50.00M
YoY Change -74.0% 100.0%
Total Long-Term Liabilities $309.0M $246.0M
YoY Change 25.61% 11.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $52.00M $30.00M
Total Long-Term Liabilities $309.0M $246.0M
Total Liabilities $9.850B $9.027B
YoY Change 9.12% 6.96%
SHAREHOLDERS EQUITY
Retained Earnings $279.9M $215.8M
YoY Change 29.7% 53.15%
Common Stock $32.00M $31.17M
YoY Change 2.66% 13.06%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.233M $8.233M
YoY Change 0.0% 0.0%
Treasury Stock Shares 530.3K shares 530.3K shares
Shareholders Equity $919.1M $879.8M
YoY Change
Total Liabilities & Shareholders Equity $10.77B $9.907B
YoY Change 8.71% 9.6%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $24.14M $25.75M
YoY Change -6.23% 41.59%
Depreciation, Depletion And Amortization $3.300M $1.500M
YoY Change 120.0% 87.5%
Cash From Operating Activities $33.34M $452.2M
YoY Change -92.63% -609.2%
INVESTING ACTIVITIES
Capital Expenditures $268.0K $366.0K
YoY Change -26.78% -77.34%
Acquisitions
YoY Change
Other Investing Activities -$880.6M -$604.4M
YoY Change 45.7% 39.58%
Cash From Investing Activities -$883.6M -$1.037B
YoY Change -14.83% 138.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$344.0K $1.716M
YoY Change -120.05% 31.09%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $919.3M $497.8M
YoY Change 84.68% -4.54%
NET CHANGE
Cash From Operating Activities $33.34M $452.2M
Cash From Investing Activities -$883.6M -$1.037B
Cash From Financing Activities $919.3M $497.8M
Net Change In Cash $69.09M -$87.42M
YoY Change -179.03% 4501.0%
FREE CASH FLOW
Cash From Operating Activities $33.34M $452.2M
Capital Expenditures $268.0K $366.0K
Free Cash Flow $33.07M $451.8M
YoY Change -92.68% -599.7%

Facts In Submission

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CY2016Q4 us-gaap Certain Loans Acquired In Transfer Accretable Yield
CertainLoansAcquiredInTransferAccretableYield
10202000 USD
CY2017Q1 us-gaap Certain Loans Acquired In Transfer Accretable Yield
CertainLoansAcquiredInTransferAccretableYield
9376000 USD
CY2017Q4 us-gaap Certain Loans Acquired In Transfer Accretable Yield
CertainLoansAcquiredInTransferAccretableYield
7825000 USD
CY2018Q1 us-gaap Certain Loans Acquired In Transfer Accretable Yield
CertainLoansAcquiredInTransferAccretableYield
7663000 USD
CY2017Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
493000 USD
CY2018Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
338000 USD
CY2017Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Reclassifications To From Nonaccretable Difference
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsToFromNonaccretableDifference
-333000 USD
CY2018Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Reclassifications To From Nonaccretable Difference
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsToFromNonaccretableDifference
176000 USD
CY2018Q1 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
400000 USD
CY2017Q4 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
689494000 USD
CY2018Q1 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
710156000 USD
CY2017Q4 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
352368000 USD
CY2018Q1 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
375609000 USD
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.00
CY2018Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.00
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2018Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2017Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
31912763 shares
CY2018Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
31996531 shares
CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
30820177 shares
CY2018Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
31466271 shares
CY2017Q4 us-gaap Common Stock Value
CommonStockValue
31913000 USD
CY2018Q1 us-gaap Common Stock Value
CommonStockValue
31997000 USD
CY2017Q1 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
9916000 USD
CY2018Q1 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
9943000 USD
CY2017Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
25767000 USD
CY2018Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-348000 USD
CY2017Q4 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
1100000 USD
CY2017Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2002000 USD
CY2018Q1 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
1200000 USD
CY2018Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1811000 USD
CY2017Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-284000 USD
CY2018Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2684000 USD
CY2017Q4 us-gaap Deposits
Deposits
6800142000 USD
CY2018Q1 us-gaap Deposits
Deposits
7042459000 USD
CY2017Q4 us-gaap Deposits Fair Value Disclosure
DepositsFairValueDisclosure
6796095000 USD
CY2018Q1 us-gaap Deposits Fair Value Disclosure
DepositsFairValueDisclosure
7034680000 USD
CY2017Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
1475000 USD
CY2018Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
3344000 USD
CY2017Q4 us-gaap Derivative Assets
DerivativeAssets
9752000 USD
CY2018Q1 us-gaap Derivative Assets
DerivativeAssets
13606000 USD
CY2018Q1 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
-800000 USD
CY2017Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
10074000 USD
CY2018Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
12673000 USD
CY2017Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
3615000 USD
CY2018Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
3615000 USD
CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.73
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.65
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.67
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.64
CY2017Q4 us-gaap Federal Funds Purchased
FederalFundsPurchased
155000000 USD
CY2018Q1 us-gaap Federal Funds Purchased
FederalFundsPurchased
195000000 USD
CY2017Q4 us-gaap Federal Funds Purchased Fair Value Disclosure
FederalFundsPurchasedFairValueDisclosure
155000000 USD
CY2018Q1 us-gaap Federal Funds Purchased Fair Value Disclosure
FederalFundsPurchasedFairValueDisclosure
195000000 USD
CY2017Q4 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Amount Of Advances By Branch
FederalHomeLoanBankAdvancesBranchOfFHLBBankAmountOfAdvancesByBranch
1611860000 USD
CY2018Q1 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Amount Of Advances By Branch
FederalHomeLoanBankAdvancesBranchOfFHLBBankAmountOfAdvancesByBranch
2252615000 USD
CY2017Q4 us-gaap Federal Home Loan Bank Borrowings Fair Value Disclosure
FederalHomeLoanBankBorrowingsFairValueDisclosure
1611603000 USD
CY2018Q1 us-gaap Federal Home Loan Bank Borrowings Fair Value Disclosure
FederalHomeLoanBankBorrowingsFairValueDisclosure
2252445000 USD
CY2017Q4 us-gaap Federal Home Loan Bank Stock And Federal Reserve Bank Stock
FederalHomeLoanBankStockAndFederalReserveBankStock
105918000 USD
CY2018Q1 us-gaap Federal Home Loan Bank Stock And Federal Reserve Bank Stock
FederalHomeLoanBankStockAndFederalReserveBankStock
130302000 USD
CY2017Q1 us-gaap Fees And Commissions Credit And Debit Cards
FeesAndCommissionsCreditAndDebitCards
13511000 USD
CY2018Q1 us-gaap Fees And Commissions Credit And Debit Cards
FeesAndCommissionsCreditAndDebitCards
9661000 USD
CY2017Q1 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
3127000 USD
CY2018Q1 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
2092000 USD
CY2017Q1 us-gaap Fees And Commissions Mortgage Banking And Servicing
FeesAndCommissionsMortgageBankingAndServicing
155000 USD
CY2018Q1 us-gaap Fees And Commissions Mortgage Banking And Servicing
FeesAndCommissionsMortgageBankingAndServicing
121000 USD
CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
32537000 USD
CY2018Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
33510000 USD
CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
1451000 USD
CY2018Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
2119000 USD
CY2017Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
361000 USD
CY2018Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
56000 USD
CY2017Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
843000 USD
CY2018Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
689000 USD
CY2017Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
6702825000 USD
CY2018Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
6883709000 USD
CY2017Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
38435000 USD
CY2018Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
34460000 USD
CY2017Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
21 Loan
CY2018Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
9 Loan
CY2017Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
1203000 USD
CY2018Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
322000 USD
CY2017Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
6695032000 USD
CY2018Q1 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
6884094000 USD
CY2017Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
26415000 USD
CY2018Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
23191000 USD
CY2017Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
19813000 USD
CY2018Q1 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
10884000 USD
CY2017Q1 us-gaap Foreclosed Real Estate Expense
ForeclosedRealEstateExpense
-55000 USD
CY2018Q1 us-gaap Foreclosed Real Estate Expense
ForeclosedRealEstateExpense
40000 USD
CY2017Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
0 USD
CY2018Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
10000 USD
CY2017Q1 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
103000 USD
CY2018Q1 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
0 USD
CY2017Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
1328000 USD
CY2018Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
1361000 USD
CY2017Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
34387000 USD
CY2018Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
36448000 USD
CY2017Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
333000 USD
CY2018Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
158000 USD
CY2017Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
38435000 USD
CY2018Q1 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
34460000 USD
CY2017Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
1451000 USD
CY2018Q1 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
2119000 USD
CY2017Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
39089000 USD
CY2018Q1 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
35162000 USD
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
32756000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
31544000 USD
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7009000 USD
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7402000 USD
CY2017Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2348000 USD
CY2018Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4174000 USD
CY2017Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
31705000 USD
CY2018Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
242317000 USD
CY2017Q1 us-gaap Increase Decrease In Federal Funds Purchased
IncreaseDecreaseInFederalFundsPurchased
-132000000 USD
CY2018Q1 us-gaap Increase Decrease In Federal Funds Purchased
IncreaseDecreaseInFederalFundsPurchased
-40000000 USD
CY2017Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
10827000 USD
CY2018Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
6806000 USD
CY2017Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-844000 USD
CY2018Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
96964000 USD
CY2018Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
7347000 USD
CY2017Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
37171 shares
CY2018Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
8916 shares
CY2017Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2344929 shares
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
840561 shares
CY2017Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
16295000 USD
CY2018Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
17477000 USD
CY2017Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
83094000 USD
CY2017Q1 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
5887000 USD
CY2018Q1 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
8672000 USD
CY2017Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
61461000 USD
CY2018Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
66879000 USD
CY2017Q1 us-gaap Interest And Fee Income Loans And Leases Held For Sale
InterestAndFeeIncomeLoansAndLeasesHeldForSale
13946000 USD
CY2018Q1 us-gaap Interest And Fee Income Loans And Leases Held For Sale
InterestAndFeeIncomeLoansAndLeasesHeldForSale
19052000 USD
CY2017Q4 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
5748027000 USD
CY2018Q1 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
5781606000 USD
CY2017Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
125935000 USD
CY2018Q1 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
206213000 USD
CY2017Q1 us-gaap Interest Expense
InterestExpense
20676000 USD
CY2018Q1 us-gaap Interest Expense
InterestExpense
31933000 USD
CY2017Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
14323000 USD
CY2018Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
19793000 USD
CY2017Q1 us-gaap Interest Expense Other Long Term Debt
InterestExpenseOtherLongTermDebt
1608000 USD
CY2018Q1 us-gaap Interest Expense Other Long Term Debt
InterestExpenseOtherLongTermDebt
3376000 USD
CY2017Q1 us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
1685000 USD
CY2018Q1 us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
1684000 USD
CY2017Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
59368000 USD
CY2018Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
62914000 USD
CY2017Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
62418000 USD
CY2018Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
65031000 USD
CY2017Q1 us-gaap Interest Paid
InterestPaid
17015000 USD
CY2018Q1 us-gaap Interest Paid
InterestPaid
29746000 USD
CY2017Q4 us-gaap Interest Receivable
InterestReceivable
27021000 USD
CY2018Q1 us-gaap Interest Receivable
InterestReceivable
31812000 USD
CY2017Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
471371000 USD
CY2017Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
21112000 USD
CY2018Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
24925000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
8918591000 USD
CY2018Q1 us-gaap Liabilities
Liabilities
9850178000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
9839555000 USD
CY2018Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
10769266000 USD
CY2016Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
37315000 USD
CY2017Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
39883000 USD
CY2017Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
38015000 USD
CY2018Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
39499000 USD
CY2017Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
-83000 USD
CY2018Q1 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
700000 USD
CY2017Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
6768175000 USD
CY2018Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
6944266000 USD
CY2017Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
6768258000 USD
CY2018Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
6943566000 USD
CY2017Q4 us-gaap Loans And Leases Receivable Net Reported Amount Covered And Not Covered
LoansAndLeasesReceivableNetReportedAmountCoveredAndNotCovered
6730243000 USD
CY2018Q1 us-gaap Loans And Leases Receivable Net Reported Amount Covered And Not Covered
LoansAndLeasesReceivableNetReportedAmountCoveredAndNotCovered
6904067000 USD
CY2017Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
1939659000 USD
CY2018Q1 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
1875515000 USD
CY2017Q4 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
6676763000 USD
CY2018Q1 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
6829770000 USD
CY2017Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
1939485000 USD
CY2018Q1 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
1875515000 USD
CY2017Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group Commercial Real Estate
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupCommercialRealEstate
1937599000 USD
CY2018Q1 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group Commercial Real Estate
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupCommercialRealEstate
1874853000 USD
CY2017Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage
1886000 USD
CY2018Q1 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage
662000 USD
CY2017Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
326000 USD
CY2018Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
390000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
497804000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
919326000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1037397000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-802132000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
452174000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-48106000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
25747000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
24142000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22132000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20527000 USD
CY2017Q1 us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
0 USD
CY2018Q1 us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
1502000 USD
CY2017Q4 us-gaap Noninterest Bearing Domestic Deposit Demand
NoninterestBearingDomesticDepositDemand
1052115000 USD
CY2018Q1 us-gaap Noninterest Bearing Domestic Deposit Demand
NoninterestBearingDomesticDepositDemand
1260853000 USD
CY2017Q1 us-gaap Noninterest Expense
NoninterestExpense
49366000 USD
CY2018Q1 us-gaap Noninterest Expense
NoninterestExpense
52280000 USD
CY2017Q1 us-gaap Noninterest Income
NoninterestIncome
22754000 USD
CY2018Q1 us-gaap Noninterest Income
NoninterestIncome
20910000 USD
CY2017Q1 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
2748000 USD
CY2018Q1 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
3757000 USD
CY2018Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segment
CY2018Q1 us-gaap Other Borrowings
OtherBorrowings
186735000 USD
CY2017Q1 us-gaap Occupancy Net
OccupancyNet
2714000 USD
CY2018Q1 us-gaap Occupancy Net
OccupancyNet
2834000 USD
CY2017Q4 us-gaap Other Assets
OtherAssets
131498000 USD
CY2018Q1 us-gaap Other Assets
OtherAssets
140501000 USD
CY2017Q4 us-gaap Other Borrowings
OtherBorrowings
186497000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-685000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
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CY2018Q1 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
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CY2018Q1 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DESCRIPTION OF THE BUSINESS</font></div><div style="line-height:120%;padding-top:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Customers Bancorp, Inc. (the &#8220;Bancorp&#8221; or &#8220;Customers Bancorp&#8221;) is a bank holding company engaged in banking activities through its wholly owned subsidiary, Customers Bank (the &#8220;Bank&#8221;), collectively referred to as &#8220;Customers&#8221; herein.&#160; The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (&#8220;U.S. GAAP&#8221;) and pursuant to the rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;).</font></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Customers Bancorp, Inc. and its wholly owned subsidiaries, Customers Bank, and non-bank subsidiaries, serve residents and businesses in Southeastern Pennsylvania (Bucks, Berks, Chester, Philadelphia and Delaware Counties); Rye Brook, New York (Westchester County); Hamilton, New Jersey (Mercer County); Boston, Massachusetts; Providence, Rhode Island; Portsmouth, New Hampshire (Rockingham County); Manhattan and Melville, New York; Washington, D.C.; Chicago, Illinois; and nationally for certain loan and deposit products.&#160; The Bank has </font><font style="font-family:inherit;font-size:10pt;">13</font><font style="font-family:inherit;font-size:10pt;"> full-service branches and provides commercial banking products, primarily loans and deposits.&#160;In addition, Customers Bank also administratively supports loan and other financial products to customers through its limited-purpose offices in Boston, Massachusetts, Providence, Rhode Island, Portsmouth, New Hampshire, Manhattan and Melville, New York, Philadelphia, Pennsylvania, Washington, D.C., and Chicago, Illinois. The Bank also provides liquidity to residential mortgage originators nationwide through commercial loans to mortgage companies.</font></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Through BankMobile, a division of Customers Bank, Customers offers state of the art high tech digital banking services to consumers, students, and the "under banked" nationwide. In October 2017, Customers announced its intent to spin-off its BankMobile business directly to Customers&#8217; shareholders, to be followed by a merger of BankMobile into Flagship Community Bank ("Flagship"), as the most favorable option for disposition of BankMobile to Customers' shareholders rather than selling the business directly to a third party. Until execution of the spin-off and merger transaction, the assets and liabilities of BankMobile will be reported as held and used for all periods presented. Previously, Customers had stated its intention to sell BankMobile and, accordingly, all BankMobile operating results and cash flows for the quarter ended March 31, 2017 were presented as discontinued operations. All prior period amounts have been reclassified to conform with the current period consolidated financial statement presentation. See </font><font style="font-family:inherit;font-size:10pt;">NOTE 2</font><font style="font-family:inherit;font-size:10pt;"> SPIN-OFF AND MERGER for more discussion regarding the spin-off and merger transaction.</font></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Customers is subject to regulation of the Pennsylvania Department of Banking and Securities and the Federal Reserve Bank and is periodically examined by those regulatory authorities. Customers Bancorp has made certain equity investments through its wholly owned subsidiaries CB Green Ventures Pte Ltd. and CUBI India Ventures Pte Ltd.</font></div></div>
CY2018Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:13px;padding-top:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:13px;padding-top:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As described in </font><font style="font-family:inherit;font-size:10pt;">NOTE 2</font><font style="font-family:inherit;font-size:10pt;"> - SPIN-OFF AND MERGER, beginning in third quarter 2017, Customers reclassified BankMobile, a segment previously classified as held for sale, to held and used as it no longer met the held-for-sale criteria. Certain prior period amounts and note disclosures (including </font><font style="font-family:inherit;font-size:10pt;">NOTE 4</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">NOTE 8</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">NOTE 10</font><font style="font-family:inherit;font-size:10pt;">) have been reclassified to conform with the current period presentation. Except for these reclassifications, there have been no material changes to Customers' significant accounting policies as disclosed in Customers' Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-top:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Presented below are recently issued accounting standards that Customers has adopted as well as those that the Financial Accounting Standards Board (&#8220;FASB&#8221;) has issued but are not yet effective or that Customers has not yet adopted. </font></div><div style="line-height:120%;padding-top:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font></div></div>

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