Customers Bancorp, Inc (CUBI) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments54469721564146245
Cash and cash equivalents51869321362146245
Short-term investments26422  
Total current assets:54469721564146245
Noncurrent Assets
Operating lease, right-of-use asset131820
Property, plant and equipment9129111212
Intangible assets, net (including goodwill), including:4141516164
Other undisclosed intangible assets, net (including goodwill)4141516164
Total noncurrent assets:254445282816
Other undisclosed assets19,00617,69811,2619,7429,6659,122
TOTAL ASSETS:19,57518,43911,5219,8339,8409,383
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt7751,1001,0381,4351,767772
Total current liabilities:7751,1001,0381,4351,767772
Noncurrent Liabilities
Other undisclosed liabilities17,43416,2229,4307,4427,1527,755
Total liabilities:18,20917,32210,4688,8778,9198,527
Stockholders' equity
Stockholders' equity attributable to parent1,3661,1171,053957921856
Preferred stock138217217217217217
Common stock353333323231
Treasury stock, value(49)(22)(22)(21)(8)(8)
Additional paid in capital542456444434422427
Accumulated other comprehensive loss(5)(6)(1)(23)(0)(5)
Retained earnings706439382317258194
Total stockholders' equity:1,3661,1171,053957921856
TOTAL LIABILITIES AND EQUITY:19,57518,43911,5219,8339,8409,383

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues793557453388403244
Net investment income740519440385348239
Cost of revenue(27)(68)(24)(4)(7)(3)
Cost of goods and services sold   (4)  
Provision for loan, lease, and other losses(27)(68)(24) 
Financial services costs(7)(3)
Gross profit:766489429384397242
Operating expenses(124)(97)(86)(83)(182)(102)
Other operating income, net
(Noninterest Income, Other Operating Income)
151515108
Operating income:642397358315224147
Nonoperating income (expense)67783(3)
Investment income, nonoperating(3)   (4)(7)
Bank owned life insurance income877875
Interest and debt expense(96)(140)(186)(160)(106)(73)
Other undisclosed loss from continuing operations before equity method investments, income taxes (89)(76)   
Income from continuing operations before equity method investments, income taxes:55217610216312272
Other undisclosed income (loss) from continuing operations before income taxes(111)  (72)268
Income from continuing operations before income taxes:44117610291124139
Income tax expense(87)(43)(23)(19)(45)(51)
Income from continuing operations:35413379727988
Loss from discontinued operations(40)    (9)
Net income attributable to parent:31513379727979
Preferred stock dividends and other adjustments(15)(14)(14)(14)(14)(10)
Net income available to common stockholders, diluted:30011965576469

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income:31513379727979
Other comprehensive income  21   
Comprehensive income:315133101727979
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1(5) (21)53
Comprehensive income, net of tax, attributable to parent:315128101518382

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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