Customers Bancorp, Inc (CUBI) financial statements (2020 and earlier)

Company profile

Business Address 1015 PENN AVENUE
WYOMISSING, PA 19610
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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments21564146245265371
Cash and cash equivalents21362146245265371
Short-term investments22    
Disposal group, including discontinued operation     1,435
Total current assets:215641462452651,806
Noncurrent Assets
Operating lease, right-of-use asset20
Property, plant and equipment91112121211
Intangible assets, net (including goodwill), including:151616444
Goodwill    44
Other undisclosed intangible assets, net (including goodwill)1516164  
Total noncurrent assets:452828161514
Other undisclosed assets11,2619,7429,6659,1228,1225,004
TOTAL ASSETS:11,5219,8339,8409,3838,4016,825
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt1,0381,4351,7677721,4351,298
Total current liabilities:1,0381,4351,7677721,4351,298
Noncurrent Liabilities
Other undisclosed liabilities9,4307,4427,1527,7556,4125,084
Total liabilities:10,4688,8778,9198,5277,8476,382
Stockholders' equity
Stockholders' equity attributable to parent1,053957921856554443
Preferred stock21721721721756 
Common stock333232312727
Treasury stock, value(22)(21)(8)(8)(8)(8)
Additional paid in capital444434422427363356
Accumulated other comprehensive loss(1)(23)(0)(5)(8)(0)
Retained earnings38231725819412568
Total stockholders' equity:1,053957921856554443
TOTAL LIABILITIES AND EQUITY:11,5219,8339,8409,3838,4016,825

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues453388403244193153
Net investment income440385348239188149
Cost of revenue(24)(4)(7)(3)(17)(10)
Cost of goods and services sold (4)    
Provision for loan, lease, and other losses(24) 
Financial services costs(7)(3)(17)(10)
Gross profit:429384397242176143
Operating expenses(86)(83)(182)(102)(91)(75)
Other operating income, net
(Noninterest Income, Other Operating Income)
151510854
Operating income:3583152241479072
Nonoperating income (expense)783(3)77
Investment income, nonoperating  (4)(7) 3
Bank owned life insurance income787574
Interest and debt expense(186)(160)(106)(73)(54)(39)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(76)   4523
Income from continuing operations before equity method investments, income taxes:102163122728863
Other undisclosed income (loss) from continuing operations before income taxes (72)268  
Income from continuing operations before income taxes:102911241398863
Income tax expense(23)(19)(45)(51)(30)(20)
Income from continuing operations:797279885943
Loss from discontinued operations   (9)  
Net income attributable to parent:797279795943
Preferred stock dividends and other adjustments(14)(14)(14)(10)(2) 
Net income available to common stockholders, diluted:655764695643

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:797279795943
Other comprehensive income (loss)21   (8)8
Comprehensive income:1017279795151
Other undisclosed comprehensive income (loss), net of tax, attributable to parent (21)53  
Comprehensive income, net of tax, attributable to parent:1015183825151

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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