2019 Q1 Form 10-Q Financial Statement

#000148881319000036 Filed on May 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $101.1M $96.96M
YoY Change 4.24% 16.69%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $11.95M $9.943M
YoY Change 20.22% 0.27%
% of Gross Profit
Depreciation & Amortization $4.300M $3.300M
YoY Change 30.3% 120.0%
% of Gross Profit
Operating Expenses $11.95M $9.943M
YoY Change 20.22% 0.27%
Operating Profit
YoY Change
Interest Expense $41.77M $31.93M
YoY Change 30.81% 54.44%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $20.27M $31.54M
YoY Change -35.74% -3.7%
Income Tax $4.831M $7.402M
% Of Pretax Income 23.83% 23.47%
Net Earnings $15.44M $24.14M
YoY Change -36.05% -6.23%
Net Earnings / Revenue 15.28% 24.9%
Basic Earnings Per Share $0.38 $0.65
Diluted Earnings Per Share $0.38 $0.64
COMMON SHARES
Basic Shares Outstanding 31.05M shares 31.42M shares
Diluted Shares Outstanding 31.48M shares 32.27M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $117.7M $215.4M
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 $10.54M $11.56M
YoY Change -8.77% -2.32%
Goodwill
YoY Change
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 $10.14B $10.77B
YoY Change -5.81% 8.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $46.00M $52.00M
YoY Change -11.54% 73.33%
Accrued Expenses $24.00M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $388.0M $195.0M
YoY Change 98.97% -9.3%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $70.00M $52.00M
YoY Change 34.62% 73.33%
LONG-TERM LIABILITIES
Long-Term Debt $233.0M $296.0M
YoY Change -21.28% 51.02%
Other Long-Term Liabilities $24.00M $13.00M
YoY Change 84.62% -74.0%
Total Long-Term Liabilities $257.0M $309.0M
YoY Change -16.83% 25.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.00M $52.00M
Total Long-Term Liabilities $257.0M $309.0M
Total Liabilities $9.166B $9.850B
YoY Change -6.95% 9.12%
SHAREHOLDERS EQUITY
Retained Earnings $328.5M $279.9M
YoY Change 17.34% 29.7%
Common Stock $32.41M $32.00M
YoY Change 1.3% 2.66%
Preferred Stock
YoY Change
Treasury Stock (at cost) $21.78M $8.233M
YoY Change 164.55% 0.0%
Treasury Stock Shares 1.281M shares 530.3K shares
Shareholders Equity $978.4M $919.1M
YoY Change
Total Liabilities & Shareholders Equity $10.14B $10.77B
YoY Change -5.81% 8.71%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $15.44M $24.14M
YoY Change -36.05% -6.23%
Depreciation, Depletion And Amortization $4.300M $3.300M
YoY Change 30.3% 120.0%
Cash From Operating Activities -$6.012M $33.34M
YoY Change -118.03% -92.63%
INVESTING ACTIVITIES
Capital Expenditures $141.0K $268.0K
YoY Change -47.39% -26.78%
Acquisitions
YoY Change
Other Investing Activities -$188.4M -$880.6M
YoY Change -78.61% 45.7%
Cash From Investing Activities -$196.3M -$883.6M
YoY Change -77.78% -14.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$501.0K -$344.0K
YoY Change 45.64% -120.05%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $257.8M $919.3M
YoY Change -71.95% 84.68%
NET CHANGE
Cash From Operating Activities -$6.012M $33.34M
Cash From Investing Activities -$196.3M -$883.6M
Cash From Financing Activities $257.8M $919.3M
Net Change In Cash $55.53M $69.09M
YoY Change -19.63% -179.03%
FREE CASH FLOW
Cash From Operating Activities -$6.012M $33.34M
Capital Expenditures $141.0K $268.0K
Free Cash Flow -$6.153M $33.07M
YoY Change -118.61% -92.68%

Facts In Submission

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OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
873000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
-1804000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
227000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
413000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
-131000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationTax
107000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationTax
-34000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-5441000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
743000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
7744000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-24490000 USD
CY2019Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
23184000 USD
CY2018Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-348000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
956816000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
15440000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
7744000 USD
CY2019Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
3615000 USD
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2109000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
450000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
8225000 USD
CY2019Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
571000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
978373000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
920964000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
24142000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-24490000 USD
CY2018Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
3615000 USD
CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1786000 USD
CY2018Q1 cubi Warrant Transactions
WarrantTransactions
112000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
189000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
919088000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
15440000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
24142000 USD
CY2019Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
4767000 USD
CY2018Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
2117000 USD
CY2019Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
4287000 USD
CY2018Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
3344000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2381000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2218000 USD
CY2019Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1878000 USD
CY2018Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2684000 USD
CY2019Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-191000 USD
CY2018Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-375000 USD
CY2019Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
2000 USD
CY2018Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
10000 USD
CY2019Q1 cubi Gain On Sale Of Mortgages And Other Loans
GainOnSaleOfMortgagesAndOtherLoans
138000 USD
CY2018Q1 cubi Gain On Sale Of Mortgages And Other Loans
GainOnSaleOfMortgagesAndOtherLoans
1477000 USD
CY2018Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
4280000 USD
CY2019Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
8182000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
5599000 USD
CY2019Q1 cubi Accretion Of Fair Values Discounts Net
AccretionOfFairValuesDiscountsNet
162000 USD
CY2018Q1 cubi Accretion Of Fair Values Discounts Net
AccretionOfFairValuesDiscountsNet
76000 USD
CY2019Q1 cubi Valuation And Other Adjustments To Other Real Estate Owned
ValuationAndOtherAdjustmentsToOtherRealEstateOwned
0 USD
CY2018Q1 cubi Valuation And Other Adjustments To Other Real Estate Owned
ValuationAndOtherAdjustmentsToOtherRealEstateOwned
41000 USD
CY2019Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
1816000 USD
CY2018Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
2031000 USD
CY2019Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
28109000 USD
CY2018Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
6806000 USD
CY2019Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-5096000 USD
CY2018Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
7347000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6012000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
33339000 USD
CY2019Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
4498000 USD
CY2018Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
11489000 USD
CY2019Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
0 USD
CY2018Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
756242000 USD
CY2019Q1 cubi Originationofmortgagewarehouseloans
Originationofmortgagewarehouseloans
5039797000 USD
CY2018Q1 cubi Originationofmortgagewarehouseloans
Originationofmortgagewarehouseloans
6804177000 USD
CY2019Q1 cubi Proceedsfrompayoffsofmortgagewarehouseloans
Proceedsfrompayoffsofmortgagewarehouseloans
4965022000 USD
CY2018Q1 cubi Proceedsfrompayoffsofmortgagewarehouseloans
Proceedsfrompayoffsofmortgagewarehouseloans
6722732000 USD
CY2019Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
-1932000 USD
CY2018Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
46969000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
0 USD
CY2018Q1 us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
16468000 USD
CY2019Q1 us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
129289000 USD
CY2018Q1 us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
0 USD
CY2019Q1 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
0 USD
CY2018Q1 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
529000 USD
CY2019Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
-9269000 USD
CY2018Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
24384000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
141000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
268000 USD
CY2019Q1 us-gaap Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
7791000 USD
CY2018Q1 us-gaap Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
2755000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-196297000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-883577000 USD
CY2019Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
283082000 USD
CY2018Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
242317000 USD
CY2019Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-222238000 USD
CY2018Q1 us-gaap Increase Decrease In Federal Funds Purchased
IncreaseDecreaseInFederalFundsPurchased
-40000000 USD
CY2019Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
3615000 USD
CY2018Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
3615000 USD
CY2019Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
CY2018Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
112000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
571000 USD
CY2018Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
640755000 USD
CY2019Q1 us-gaap Increase Decrease In Federal Funds Purchased
IncreaseDecreaseInFederalFundsPurchased
-201000000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
894000 USD
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
587000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1072000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
344000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
257836000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
919326000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
55527000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
69088000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62135000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
146323000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
117662000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
215411000 USD
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
38916000 USD
CY2018Q1 us-gaap Interest Paid Net
InterestPaidNet
29746000 USD
CY2019Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1204000 USD
CY2018Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4174000 USD
CY2019Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
160000 USD
CY2018Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
57000 USD
CY2019Q1 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
0 USD
CY2018Q1 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
129691000 USD
CY2019Q1 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
CY2019Q1 us-gaap Nature Of Operations
NatureOfOperations
DESCRIPTION OF THE BUSINESS<div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Customers Bancorp, Inc. (the “Bancorp” or “Customers Bancorp”) is a bank holding company engaged in banking activities through its wholly owned subsidiary, Customers Bank (the “Bank”), collectively referred to as “Customers” herein. The consolidated financial statements have been prepared in conformity with U.S. GAAP and pursuant to the rules and regulations of the SEC.</span></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><span 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. The Bank has </span><span style="font-family:inherit;font-size:10pt;"><span>13</span></span><span style="font-family:inherit;font-size:10pt;"> full-service branches and provides commercial banking products, primarily loans and deposits. In addition, Customers Bank also administratively supports loan, equipment leases 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. 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, along with "Banking as a Service" offerings with white label partners.</span></div>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.
CY2019Q1 cubi Number Of Branches
NumberOfBranches
13 Branch
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
11825000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20527000 USD
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31047191 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31424496 shares
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
435676 shares
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
840561 shares
CY2019Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2018Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
8916 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31482867 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32273973 shares
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.65
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.64
CY2018Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-24587000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
8050000 USD
CY2019Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
306000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
7744000 USD
CY2018Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-97000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-24490000 USD
CY2019Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
687985000 USD
CY2019Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
701000 USD
CY2019Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
12264000 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
676422000 USD
CY2019Q1 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
1720000 USD
CY2019Q1 cubi Investment Securitiesat Fair Value
InvestmentSecuritiesatFairValue
678142000 USD
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
692674000 USD
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
920000 USD
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
30300000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
663294000 USD
CY2017Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
1718000 USD
CY2017Q4 cubi Investment Securitiesat Fair Value
InvestmentSecuritiesatFairValue
665012000 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
0 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
0 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
0 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
0 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
354268000 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
345717000 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
27066000 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
26561000 USD
CY2019Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
687985000 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
676422000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
21873000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
93000 USD
CY2019Q1 cubi Debt Securities Availableforsale Continuous Unrealized Loss Position12 Monthsor Longer Fair Value
DebtSecuritiesAvailableforsaleContinuousUnrealizedLossPosition12MonthsorLongerFairValue
525865000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
12171000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
547738000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
12264000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
615410000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
30300000 USD
CY2018Q4 cubi Debt Securities Availableforsale Continuous Unrealized Loss Position12 Monthsor Longer Fair Value
DebtSecuritiesAvailableforsaleContinuousUnrealizedLossPosition12MonthsorLongerFairValue
0 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
615410000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
30300000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
4 Security
CY2019Q1 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Greater Than Or Equal To One Year
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear
22 Security
CY2019Q1 us-gaap Pledged Financial Instruments Not Separately Reported Securities Pledged
PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged
22900000 USD
CY2018Q4 us-gaap Pledged Financial Instruments Not Separately Reported Securities Pledged
PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged
23000000.0 USD
CY2019Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
7267246000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
7138498000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
3197000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
424000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
43679000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
39972000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Net Reported Amount Covered And Not Covered
LoansAndLeasesReceivableNetReportedAmountCoveredAndNotCovered
8700565000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Net Reported Amount Covered And Not Covered
LoansAndLeasesReceivableNetReportedAmountCoveredAndNotCovered
8503522000 USD
CY2019Q1 cubi Loans Held For Sale Average Life From Purchase To Sale
LoansHeldForSaleAverageLifeFromPurchaseToSale
P20D
CY2019Q1 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
22332000 USD
CY2019Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
22769000 USD
CY2019Q1 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
7202023000 USD
CY2019Q1 cubi Loansandleasesreceivableatamortizedcostorlowerofcostormarket
Loansandleasesreceivableatamortizedcostorlowerofcostormarket
7267246000 USD
CY2018Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
15551000 USD
CY2018Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
27494000 USD
CY2018Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
7073879000 USD
CY2018Q4 cubi Loansandleasesreceivableatamortizedcostorlowerofcostormarket
Loansandleasesreceivableatamortizedcostorlowerofcostormarket
7138498000 USD
CY2019Q1 cubi Period Of Due Within Which Loan Is Considered Current
PeriodOfDueWithinWhichLoanIsConsideredCurrent
P30D
CY2019Q1 cubi Period Of Delinquent For Manufactured Housing Cash Reserve Funding
PeriodOfDelinquentForManufacturedHousingCashReserveFunding
P90D
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
39972000 USD
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
1344000 USD
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
284000 USD
CY2019Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
4767000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
43679000 USD
CY2019Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
39359000 USD
CY2019Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
7207765000 USD
CY2019Q1 cubi Loansandleasesreceivableatamortizedcostorlowerofcostormarket
Loansandleasesreceivableatamortizedcostorlowerofcostormarket
7267246000 USD
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
380000 USD
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
40469000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
43679000 USD
CY2017Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
38015000 USD
CY2018Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
689000 USD
CY2018Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
56000 USD
CY2018Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
2117000 USD
CY2018Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
39499000 USD
CY2018Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
39118000 USD
CY2018Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
7077806000 USD
CY2018Q4 cubi Loansandleasesreceivableatamortizedcostorlowerofcostormarket
Loansandleasesreceivableatamortizedcostorlowerofcostormarket
7138498000 USD
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
845000 USD
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
36249000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
39972000 USD
CY2019Q1 cubi Funds For Reimbursement Relating To Purchased Manufactured Housing
FundsForReimbursementRelatingToPurchasedManufacturedHousing
500000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
39359000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
42815000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
380000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
39239000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
206000 USD
CY2018Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
39118000 USD
CY2018Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
42031000 USD
CY2018Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
845000 USD
CY2018Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
36448000 USD
CY2018Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
158000 USD
CY2019Q1 cubi Loans Receivables Gross Troubled Debt Restructurings
LoansReceivablesGrossTroubledDebtRestructurings
19600000 USD
CY2018Q4 cubi Loans Receivables Gross Troubled Debt Restructurings
LoansReceivablesGrossTroubledDebtRestructurings
19200000 USD
CY2019Q1 cubi Financing Receivable Impairment Minimum Performance Requirement Period
FinancingReceivableImpairmentMinimumPerformanceRequirementPeriod
P9M
CY2019Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
12 Loan
CY2019Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
899000 USD
CY2018Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
9 Loan
CY2018Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
322000 USD
CY2019Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
12 Loan
CY2019Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
899000 USD
CY2018Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
9 Loan
CY2018Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
322000 USD
CY2018Q4 cubi Number Of Commitments To Lend Additional Funds For Troubled Debt Restructurings
NumberOfCommitmentsToLendAdditionalFundsForTroubledDebtRestructurings
0 Commitment
CY2019Q1 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
6 Loan
CY2019Q1 us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
568000 USD
CY2018Q1 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
1 Loan
CY2018Q1 us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
29000 USD
CY2019Q1 cubi Specific Allowance Loans Modified In Troubled Debt Restructurings
SpecificAllowanceLoansModifiedInTroubledDebtRestructurings
0 Allowance
CY2018Q4 us-gaap Certain Loans Acquired In Transfer Accretable Yield
CertainLoansAcquiredInTransferAccretableYield
6178000 USD
CY2017Q4 us-gaap Certain Loans Acquired In Transfer Accretable Yield
CertainLoansAcquiredInTransferAccretableYield
7825000 USD
CY2019Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
277000 USD
CY2018Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
338000 USD
CY2019Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Reclassifications To From Nonaccretable Difference
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsToFromNonaccretableDifference
293000 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
CY2019Q1 us-gaap Certain Loans Acquired In Transfer Accretable Yield
CertainLoansAcquiredInTransferAccretableYield
6194000 USD
CY2018Q1 us-gaap Certain Loans Acquired In Transfer Accretable Yield
CertainLoansAcquiredInTransferAccretableYield
7663000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
7267246000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
7138498000 USD
CY2018Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
1400000 USD
CY2019Q1 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
132520000 USD
CY2018Q1 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
0 USD
CY2019Q1 cubi Valueatthe Timeof Saleof Loans Receivable
ValueattheTimeofSaleofLoansReceivable
0 USD
CY2018Q1 cubi Valueatthe Timeof Saleof Loans Receivable
ValueattheTimeofSaleofLoansReceivable
14993000 USD
CY2019Q1 cubi Loans Heldforinvestment Purchase Priceasa Percentageof Loans Outstanding
LoansHeldforinvestmentPurchasePriceasaPercentageofLoansOutstanding
0.976
CY2018Q1 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
0 USD
CY2019Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
0 USD
CY2019Q1 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
5400000000 USD
CY2019Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P15Y
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
22469000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
23649000 USD
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1469000 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
0 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4303000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5135000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4513000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3885000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2856000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4699000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1742000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
25391000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
23649000 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1400000 USD
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y7M6D
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0274
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
5577000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
5135000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
4513000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
3885000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2856000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
4699000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
26665000 USD
CY2018Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1400000 USD
CY2019Q1 us-gaap Direct Financing Lease Lease Receivable
DirectFinancingLeaseLeaseReceivable
56553000 USD
CY2019Q1 us-gaap Direct Financing Lease Residual Value Of Leased Asset
DirectFinancingLeaseResidualValueOfLeasedAsset
5540000 USD
CY2019Q1 us-gaap Direct Financing Lease Unguaranteed Residual Asset
DirectFinancingLeaseUnguaranteedResidualAsset
622000 USD
CY2019Q1 cubi Direct Financing Lease Deferred Initial Direct Costs
DirectFinancingLeaseDeferredInitialDirectCosts
745000 USD
CY2019Q1 us-gaap Direct Financing Lease Deferred Selling Profit
DirectFinancingLeaseDeferredSellingProfit
6342000 USD
CY2019Q1 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
57118000 USD
CY2019Q1 cubi Operating Lease Investmentin Lease Gross
OperatingLeaseInvestmentinLeaseGross
67093000 USD
CY2019Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6705000 USD
CY2019Q1 cubi Operating Lease Deferred Initial Direct Costs
OperatingLeaseDeferredInitialDirectCosts
864000 USD
CY2019Q1 cubi Operating Lease Net Investmentin Lease
OperatingLeaseNetInvestmentinLease
61252000 USD
CY2019Q1 cubi Net Investmentin Direct Financingand Operating Leases
NetInvestmentinDirectFinancingandOperatingLeases
118370000 USD
CY2019Q1 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
759887000 USD
CY2019Q1 cubi Tier One Common Capitalto Risk Weighted Assets
TierOneCommonCapitaltoRiskWeightedAssets
0.08914
CY2019Q1 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
383603000 USD
CY2019Q1 cubi Tier One Common Capital Requiredfor Capital Adequacyto Risk Weighted Assets
TierOneCommonCapitalRequiredforCapitalAdequacytoRiskWeightedAssets
0.04500
CY2019Q1 cubi Common Equity Tier One Capital Requiredfor Basel Iii
CommonEquityTierOneCapitalRequiredforBaselIII
596715000 USD
CY2019Q1 cubi Tier One Common Capital Requiredfor Basel Ii Ito Risk Weighted Assets
TierOneCommonCapitalRequiredforBaselIIItoRiskWeightedAssets
0.07000
CY2019Q1 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
977339000 USD
CY2019Q1 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.11465
CY2019Q1 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
511470000 USD
CY2019Q1 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.06000
CY2019Q1 cubi Tier One Risk Based Capital Requiredfor Basel Iii
TierOneRiskBasedCapitalRequiredforBaselIII
724583000 USD
CY2019Q1 cubi Tier One Risk Based Capital Requiredfor Basel Ii Ito Risk Weighted Assets
TierOneRiskBasedCapitalRequiredforBaselIIItoRiskWeightedAssets
0.08500
CY2019Q1 us-gaap Capital
Capital
1101041000 USD
CY2019Q1 us-gaap Capital To Risk Weighted Assets
CapitalToRiskWeightedAssets
0.12916
CY2019Q1 us-gaap Capital Required For Capital Adequacy
CapitalRequiredForCapitalAdequacy
691960000 USD
CY2019Q1 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.08000
CY2019Q1 cubi Capital Requiredfor Basel Iii
CapitalRequiredforBaselIII
895073000 USD
CY2019Q1 cubi Capital Requiredfor Basel Ii Ito Risk Weighted Assets
CapitalRequiredforBaselIIItoRiskWeightedAssets
0.10500
CY2019Q1 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
977339000 USD
CY2019Q1 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.10006
CY2019Q1 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
390685000 USD
CY2019Q1 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.04000
CY2019Q1 cubi Tier One Leverage Capital Requiredfor Basel Iii
TierOneLeverageCapitalRequiredforBaselIII
390685000 USD
CY2019Q1 cubi Tier One Leverage Capital Requiredfor Basel Ii Ito Average Assets
TierOneLeverageCapitalRequiredforBaselIIItoAverageAssets
0.04000
CY2018Q4 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
745795000 USD
CY2018Q4 cubi Tier One Common Capitalto Risk Weighted Assets
TierOneCommonCapitaltoRiskWeightedAssets
0.08964
CY2018Q4 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
374388000 USD
CY2018Q4 cubi Tier One Common Capital Requiredfor Capital Adequacyto Risk Weighted Assets
TierOneCommonCapitalRequiredforCapitalAdequacytoRiskWeightedAssets
0.04500
CY2018Q4 cubi Common Equity Tier One Capital Requiredfor Basel Iii
CommonEquityTierOneCapitalRequiredforBaselIII
530384000 USD
CY2018Q4 cubi Tier One Common Capital Requiredfor Basel Ii Ito Risk Weighted Assets
TierOneCommonCapitalRequiredforBaselIIItoRiskWeightedAssets
0.06375
CY2018Q4 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
963266000 USD
CY2018Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.11578
CY2018Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
499185000 USD
CY2018Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.06000
CY2018Q4 cubi Tier One Risk Based Capital Requiredfor Basel Iii
TierOneRiskBasedCapitalRequiredforBaselIII
655180000 USD
CY2018Q4 cubi Tier One Risk Based Capital Requiredfor Basel Ii Ito Risk Weighted Assets
TierOneRiskBasedCapitalRequiredforBaselIIItoRiskWeightedAssets
0.07875
CY2018Q4 us-gaap Capital
Capital
1081962000 USD
CY2018Q4 us-gaap Capital To Risk Weighted Assets
CapitalToRiskWeightedAssets
0.13005
CY2018Q4 us-gaap Capital Required For Capital Adequacy
CapitalRequiredForCapitalAdequacy
665580000 USD
CY2018Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.08000
CY2018Q4 cubi Capital Requiredfor Basel Iii
CapitalRequiredforBaselIII
821575000 USD
CY2018Q4 cubi Capital Requiredfor Basel Ii Ito Risk Weighted Assets
CapitalRequiredforBaselIIItoRiskWeightedAssets
0.09875
CY2018Q4 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
963266000 USD
CY2018Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.09665
CY2018Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
398668000 USD
CY2018Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.04000
CY2018Q4 cubi Tier One Leverage Capital Requiredfor Basel Iii
TierOneLeverageCapitalRequiredforBaselIII
398668000 USD
CY2018Q4 cubi Tier One Leverage Capital Requiredfor Basel Ii Ito Average Assets
TierOneLeverageCapitalRequiredforBaselIIItoAverageAssets
0.04000
CY2019Q1 cubi Capital Conservation Bufferto Risk Weighted Assets Year One
CapitalConservationBuffertoRiskWeightedAssetsYearOne
0.00625
CY2019Q1 cubi Capital Conservation Bufferto Risk Weighted Assets Year Two
CapitalConservationBuffertoRiskWeightedAssetsYearTwo
0.01250
CY2019Q1 cubi Capital Conservation Bufferto Risk Weighted Assets Year Three
CapitalConservationBuffertoRiskWeightedAssetsYearThree
0.01875
CY2019Q1 cubi Capital Conservation Bufferto Risk Weighted Assets Year Fourand Thereafter
CapitalConservationBuffertoRiskWeightedAssetsYearFourandThereafter
0.02500
CY2019Q1 cubi Tier One Common Capital Requiredfor Capital Adequacyto Risk Weighted Assets
TierOneCommonCapitalRequiredforCapitalAdequacytoRiskWeightedAssets
0.07000
CY2019Q1 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.08500
CY2019Q1 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.10500
CY2019Q1 cubi Loans Held For Sale Average Life From Purchase To Sale
LoansHeldForSaleAverageLifeFromPurchaseToSale
P20D
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
117662000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
117662000 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
676422000 USD
CY2019Q1 cubi Debt Securities Availableforsaleat Fair Value
DebtSecuritiesAvailableforsaleatFairValue
676422000 USD
CY2019Q1 cubi Equity Securities
EquitySecurities
1720000 USD
CY2019Q1 cubi Equity Securitiesat Fair Value
EquitySecuritiesatFairValue
1720000 USD
CY2019Q1 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
1602000 USD
CY2019Q1 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
1602000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Net Reported Amount Covered And Not Covered
LoansAndLeasesReceivableNetReportedAmountCoveredAndNotCovered
8700565000 USD
CY2019Q1 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
8774518000 USD
CY2019Q1 us-gaap Federal Home Loan Bank Stock And Federal Reserve Bank Stock
FederalHomeLoanBankStockAndFederalReserveBankStock
80416000 USD
CY2019Q1 cubi Federal Home Loan Bank Stock And Federal Reserve Bank Stock Fair Value
FederalHomeLoanBankStockAndFederalReserveBankStockFairValue
80416000 USD
CY2019Q1 us-gaap Derivative Assets
DerivativeAssets
14665000 USD
CY2019Q1 us-gaap Derivative Assets
DerivativeAssets
14665000 USD
CY2019Q1 us-gaap Deposits
Deposits
7425318000 USD
CY2019Q1 us-gaap Deposits Fair Value Disclosure
DepositsFairValueDisclosure
7422232000 USD
CY2019Q1 us-gaap Federal Funds Purchased
FederalFundsPurchased
388000000 USD
CY2019Q1 us-gaap Federal Funds Purchased Fair Value Disclosure
FederalFundsPurchasedFairValueDisclosure
388000000 USD
CY2019Q1 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Amount Of Advances By Branch
FederalHomeLoanBankAdvancesBranchOfFHLBBankAmountOfAdvancesByBranch
1025832000 USD
CY2019Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
23837000 USD
CY2019Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
23837000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
62135000 USD
CY2019Q1 us-gaap Federal Home Loan Bank Borrowings Fair Value Disclosure
FederalHomeLoanBankBorrowingsFairValueDisclosure
1025830000 USD
CY2019Q1 us-gaap Other Borrowings
OtherBorrowings
123963000 USD
CY2019Q1 cubi Borrowings Fair Value Disclosure
BorrowingsFairValueDisclosure
123591000 USD
CY2019Q1 us-gaap Subordinated Debt
SubordinatedDebt
109002000 USD
CY2019Q1 cubi Subordinated Debt Fair Value Disclosure
SubordinatedDebtFairValueDisclosure
113988000 USD
CY2018Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
16286000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
62135000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2018Q4 cubi Debt Securities Availableforsaleat Fair Value
DebtSecuritiesAvailableforsaleatFairValue
663294000 USD
CY2018Q4 cubi Equity Securities
EquitySecurities
1718000 USD
CY2018Q4 cubi Equity Securitiesat Fair Value
EquitySecuritiesatFairValue
1718000 USD
CY2018Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
1507000 USD
CY2018Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
1507000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Net Reported Amount Covered And Not Covered
LoansAndLeasesReceivableNetReportedAmountCoveredAndNotCovered
8503522000 USD
CY2018Q4 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
8481128000 USD
CY2018Q4 us-gaap Federal Home Loan Bank Stock And Federal Reserve Bank Stock
FederalHomeLoanBankStockAndFederalReserveBankStock
89685000 USD
CY2018Q4 cubi Federal Home Loan Bank Stock And Federal Reserve Bank Stock Fair Value
FederalHomeLoanBankStockAndFederalReserveBankStockFairValue
89685000 USD
CY2018Q4 us-gaap Derivative Assets
DerivativeAssets
14693000 USD
CY2018Q4 us-gaap Derivative Assets
DerivativeAssets
14693000 USD
CY2018Q4 us-gaap Deposits
Deposits
7142236000 USD
CY2018Q4 us-gaap Deposits Fair Value Disclosure
DepositsFairValueDisclosure
7136009000 USD
CY2018Q4 us-gaap Federal Funds Purchased
FederalFundsPurchased
187000000 USD
CY2018Q4 us-gaap Federal Funds Purchased Fair Value Disclosure
FederalFundsPurchasedFairValueDisclosure
187000000 USD
CY2018Q4 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Amount Of Advances By Branch
FederalHomeLoanBankAdvancesBranchOfFHLBBankAmountOfAdvancesByBranch
1248070000 USD
CY2018Q4 us-gaap Federal Home Loan Bank Borrowings Fair Value Disclosure
FederalHomeLoanBankBorrowingsFairValueDisclosure
1248046000 USD
CY2018Q4 us-gaap Other Borrowings
OtherBorrowings
123871000 USD
CY2018Q4 cubi Borrowings Fair Value Disclosure
BorrowingsFairValueDisclosure
121718000 USD
CY2018Q4 us-gaap Subordinated Debt
SubordinatedDebt
108977000 USD
CY2018Q4 cubi Subordinated Debt Fair Value Disclosure
SubordinatedDebtFairValueDisclosure
110550000 USD
CY2018Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
16286000 USD
CY2019Q1 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
1000000.0 USD
CY2019Q1 cubi Derivative Lengthof Hedging Exposureto Variabilityin Future Cash Flows
DerivativeLengthofHedgingExposuretoVariabilityinFutureCashFlows
P63M
CY2019Q1 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
16000000.0 USD
CY2019Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segment
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12349000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12949000 USD
CY2019Q1 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
LEGAL CONTINGENCIES<div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Halbreiner Matter</span></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On December 16, 2016, Elizabeth Halbreiner and Robert Halbreiner (“Plaintiffs”) filed a Second Amended Complaint captioned </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Elizabeth Halbreiner and Robert Halbreiner, v. Customers Bank, Robert B.White, Richard A. Ehst, Thomas Jastrem, Timothy D. Romig, Andrew Bowman, Michael Fuoco, Saldutti Law Group f/k/a Saldutti, LLC a/k/a Saldutti Law, LLC, Robert L. Saldutti, LLC, Robert L. Saldutti, Esquire, Brian J. Schaffer, Esquire, Robert Lieber, Jr., Esquire, Jay Sidhu, James Zardecki, Zardecki Associates LLC, No. 01419 in the First Judicial District of Pennsylvania, Court of Common Pleas of Philadelphia, Trial Division</span><span style="font-family:inherit;font-size:10pt;">. In this Second Amended Complaint, the Plaintiffs generally allege that Customers Bank, and the other named defendants, conspired to misuse the legal system for improper purposes and it also alleges defamation, false light, tortious interference with contractual relations, infliction of emotional distress, negligent infliction of emotional distress and loss of consortium</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;">. </span><span style="font-family:inherit;font-size:10pt;">On January 6, 2017, Customers Bank filed Preliminary Objections to the Complaint seeking dismissal of the Plaintiff’s claims against Customers Bank and the employees of Customers Bank named as co-defendants.</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;"> On April 6, 2017, the Court dismissed certain counts and determined to allow certain other counts to proceed. Customers Bank intends to vigorously defend itself against these allegations but is currently unable to predict the outcome of this lawsuit and therefore cannot determine the likelihood of loss nor estimate a range of possible loss.</span></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Lifestyle Healthcare Group, Inc. Matter</span></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On January 9, 2017, Lifestyle Healthcare Group, Inc., et al (“Plaintiffs”) filed a Complaint captioned </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Lifestyle Healthcare Group, Inc.; Fred Rappaport; Victoria Rappaport; Lifestyle Management Group, LLC Trading as Lifestyle Real Estate I, LP; Lifestyle Real Estate I GP, LLC; Daniel Muck; Lifestyle Management Group, LLC; Lifestyle Management Group, LLC Trading as Lifestyle I, LP D/B/A Lifestyle Medspa, Plaintiffs v. Customers Bank, Robert White; Saldutti Law, LLC a/k/a Saldutti Law Group; Robert L. Saldutti, Esquire; and Michael Fuoco, Civil Action No. 01206, in the First Judicial District of Pennsylvania, Court of Common Pleas of Philadelphia</span><span style="font-family:inherit;font-size:10pt;">. In this Complaint, which is related to the Halbreiner Matter described above, the Plaintiffs generally allege wrongful use of civil proceedings and abuse of process in connection with a case filed and later dismissed in federal court, titled, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Customers Bank v. Fred Rappaport, et al., U.S.D.C.E.D. Pa., No. 15-6145. </span><span style="font-family:inherit;font-size:10pt;"> On January 30, 2017, Customers Bank filed Preliminary Objections to the Complaint seeking dismissal of Plaintiff’s claims against Customers Bank and Robert White, named as co-defendants.</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">In response to the Preliminary Objections, Lifestyle filed an Amended Complaint against Customers Bank and Robert White. Customers Bank has filed Preliminary Objections to the Second Amended Complaint seeking dismissal of Plaintiff's claim against Customers Bank and Robert White, named as co-defendants. The Court has dismissed certain counts and determined to allow certain other counts to proceed. Customers Bank intends to vigorously defend itself against these allegations but is currently unable to predict the outcome of this lawsuit and therefore cannot determine the likelihood of loss nor estimate a range of possible loss.</span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">United States Department of Education Matter</span></div><span style="font-family:inherit;font-size:10pt;">In third quarter 2018, Customers received a FPRD letter dated September 5, 2018 from the DOE regarding a focused program review of Higher One's/Customers Bank's administration, as a third party servicer, of the programs authorized pursuant to Title IV of the Higher Education Act of 1965. The DOE program review covered the award years beginning in 2013 through the FPRD issuance date, including the time period when Higher One was acting as the third party servicer prior to Customers' acquisition of the Disbursement business on June 15, 2016. The FPRD determined that, with respect to students enrolled at specified partner institutions, Higher One/Customers did not provide convenient fee-free access to ATMs or bank branch offices in such locations as required by the DOE’s cash management regulations. Those regulations, which were in effect during the period covered by the program review and were revised during that period, seek, among other purposes, to ensure that students can make fee-free cash withdrawals.  The FPRD determined that students incurred prohibited costs in accessing Title IV credit balance funds, and the FPRD classifies those costs as financial liabilities of Customers. The FPRD also requires Customers to take prospective action to increase ATM access for students at certain of its partner institutions. Customers disagrees with the FPRD and has elected to appeal the FPRD, including the asserted financial liabilities of </span><span style="font-family:inherit;font-size:10pt;"><span>$6.5 million</span></span>, and a request for review has been submitted to trigger an administrative process before the DOE’s Office of Hearing and Appeals. Customers intends to vigorously defend itself against the financial liabilities established in the FPRD through that administrative appeals process and it further intends to pursue resolution of the FPRD’s prospective action requirements during the appeals resolution process. The matter is in its early stages. Customers is currently unable to predict the outcome of the appeal and resolution efforts, and therefore cannot determine the likelihood of loss nor estimate a range of possible loss. Customers does not believe that this matter will have a material effect on the consolidated financial statements.
CY2019Q1 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
6500000 USD

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