Customers Bancorp, Inc (CUBI) financial statements (2021 and earlier)

Company profile

Business Address 701 READING AVENUE
WEST READING, PA 19611
State of Incorp. PA
Fiscal Year End December 31
SIC 6022 - State Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments69721564146245265
Cash and cash equivalents69321362146245265
Short-term investments422   
Total current assets:69721564146245265
Noncurrent Assets
Operating lease, right-of-use asset1820
Property, plant and equipment12911121212
Intangible assets, net (including goodwill), including:1415161644
Goodwill     4
Other undisclosed intangible assets, net (including goodwill)141516164 
Total noncurrent assets:444528281615
Other undisclosed assets17,69811,2619,7429,6659,1228,122
TOTAL ASSETS:18,43911,5219,8339,8409,3838,401
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt1,1001,0381,4351,7677721,435
Total current liabilities:1,1001,0381,4351,7677721,435
Noncurrent Liabilities
Other undisclosed liabilities16,2229,4307,4427,1527,7556,412
Total liabilities:17,32210,4688,8778,9198,5277,847
Stockholders' equity
Stockholders' equity attributable to parent1,1171,053957921856554
Preferred stock21721721721721756
Common stock333332323127
Treasury stock, value(22)(22)(21)(8)(8)(8)
Additional paid in capital456444434422427363
Accumulated other comprehensive loss(6)(1)(23)(0)(5)(8)
Retained earnings439382317258194125
Total stockholders' equity:1,1171,053957921856554
TOTAL LIABILITIES AND EQUITY:18,43911,5219,8339,8409,3838,401

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues557453388403244193
Net investment income519440385348239188
Cost of revenue(68)(24)(4)(7)(3)(17)
Cost of goods and services sold  (4)   
Provision for loan, lease, and other losses(68)(24) 
Financial services costs(7)(3)(17)
Gross profit:489429384397242176
Operating expenses(97)(86)(83)(182)(102)(91)
Other operating income, net
(Noninterest Income, Other Operating Income)
515151085
Operating income:39735831522414790
Nonoperating income (expense)7783(3)7
Investment income, nonoperating   (4)(7) 
Bank owned life insurance income778757
Interest and debt expense(140)(186)(160)(106)(73)(54)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(89)(76)   45
Income from continuing operations before equity method investments, income taxes:1761021631227288
Other undisclosed income (loss) from continuing operations before income taxes  (72)268 
Income from continuing operations before income taxes:1761029112413988
Income tax expense(43)(23)(19)(45)(51)(30)
Income from continuing operations:1337972798859
Loss from discontinued operations    (9) 
Net income attributable to parent:1337972797959
Preferred stock dividends and other adjustments(14)(14)(14)(14)(10)(2)
Net income available to common stockholders, diluted:1196557646956

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:1337972797959
Other comprehensive income (loss) 21   (8)
Comprehensive income:13310172797951
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(5) (21)53 
Comprehensive income, net of tax, attributable to parent:12810151838251

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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