falsedesktopCUBI2020-09-30000148881320000223{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Title of Each Class\tTrading Symbols\tName of Each Exchange on which Registered\nVoting Common Stock par value $1.00 per share\tCUBI\tNew York Stock Exchange\nFixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock Series C par value $1.00 per share\tCUBI/PC\tNew York Stock Exchange\nFixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock Series D par value $1.00 per share\tCUBI/PD\tNew York Stock Exchange\nFixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock Series E par value $1.00 per share\tCUBI/PE\tNew York Stock Exchange\nFixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock Series F par value $1.00 per share\tCUBI/PF\tNew York Stock Exchange\n5.375% Subordinated Notes due 2034\tCUBB\tNew York Stock Exchange\n", "q10k_tbl_1": "Part I\t\t\nItem 1.\tCustomers Bancorp Inc. Consolidated Financial Statements as of September 30 2020 and for the three and nine month periods ended September 30 2020 and 2019 (unaudited)\t5\nItem 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t54\nItem 3.\tQuantitative and Qualitative Disclosures about Market Risk\t84\nItem 4.\tControls and Procedures\t86\nPART II\t\t\nItem 1.\tLegal Proceedings\t87\nItem 1A.\tRisk Factors\t87\nItem 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t88\nItem 3.\tDefaults Upon Senior Securities\t88\nItem 4.\tMine Safety Disclosures\t89\nItem 5.\tOther Information\t89\nItem 6.\tExhibits\t90\nSIGNATURES\t\t92\nEx-31.1\t\t\nEx-31.2\t\t\nEx-32.1\t\t\nEx-32.2\t\t\nEx-101\t\t\n", "q10k_tbl_2": "2004 Plan\t2012 Amendment and Restatement of the Customers Bancorp Inc. Amended and Restated 2004 Incentive Equity and Deferred Compensation Plan\n2010 Plan\t2010 Stock Option Plan\n2019 Plan\t2019 Stock Incentive Plan\nACL\tAllowance for credit losses\nASC\tAccounting Standards Codification\nALLL\tAllowance for loan and lease losses\nAOCI\tAccumulated other comprehensive income\nASU\tAccounting Standards Update\nATM\tAutomated teller machine\nBancorp\tCustomers Bancorp Inc.\nBank\tCustomers Bank\nBBB spread\tBBB rated corporate bond spreads to U.S. Treasury securities\nBHCA\tBank Holding Company Act of 1956 as amended\nBMT\tBankMobile Technologies Inc.\nBM Technologies\tBM Technologies Inc.\nBOLI\tBank-owned life insurance\nBRRP\tBonus Recognition and Retention Program\nCARES Act\tCoronavirus Aid Relief and Economic Security Act\nCCF\tCustomers Commercial Finance LLC\nCECL\tCurrent expected credit loss\nCEO\tChief Executive Officer\nCFO\tChief Financial Officer\nCFPB\tConsumer Financial Protection Bureau\nCOSO\tCommittee of Sponsoring Organizations of the Treadway Commission\nCOVID-19\tCoronavirus Disease 2019\nCRA\tCommunity Reinvestment Act\nCPI\tConsumer Price Index\nCUBI\tSymbol for Customers Bancorp Inc. common stock traded on the NYSE\nCustomers\tCustomers Bancorp Inc. and Customers Bank collectively\nCustomers Bancorp\tCustomers Bancorp Inc.\nDepartment\tPennsylvania Department of Banking and Securities\nDCF\tDiscounted cash flow\nDIF\tDeposit Insurance Fund\nDodd-Frank Act\tDodd-Frank Wall Street Reform and Consumer Protection Act of 2010\nED\tUnited States Department of Education\nEGRRCPA\tThe Economic Growth Regulatory Relief and Consumer Protection Act of 2018\nEPS\tEarnings per share\nESPP\tEmployee Stock Purchase Plan\nEVE\tEconomic value of equity\nFASB\tFinancial Accounting Standards Board\nFDIC\tFederal Deposit Insurance Corporation\nFDICIA\tFederal Deposit Insurance Corporation Improvement Act of 1991\nFederal Reserve Board\tBoard of Governors of the Federal Reserve System\nFERPA\tFamily Educational Rights and Privacy Act of 1975\nFHA\tFederal Housing Administration\nFHLB\tFederal Home Loan Bank\nFPRD\tFinal Program Review Determination\nFRB\tFederal Reserve Bank of Philadelphia\nFTC Act\tFederal Trade Commission Act\nGDP\tGross domestic product\nGNMA\tGovernment National Mortgage Association\nGLBA\tGramm-Leach-Bliley Act of 1999\nHECM\tHome Equity Conversion Mortgage\n", "q10k_tbl_3": "\tSeptember 30 2020\tDecember 31 2019\nASSETS\t\t\nCash and due from banks\t5822\t33095\nInterest earning deposits\t325594\t179410\nCash and cash equivalents\t331416\t212505\nInvestment securities at fair value\t1133831\t595876\nLoans held for sale (includes $6998 and $2130 respectively at fair value)\t26689\t486328\nLoans receivable mortgage warehouse at fair value\t3913593\t2245758\nLoans receivable PPP\t4964105\t0\nLoans and leases receivable\t7700892\t7318988\nAllowance for credit losses on loans and leases\t(155561)\t(56379)\nTotal loans and leases receivable net of allowance for credit losses on loans and leases\t16423029\t9508367\nFHLB Federal Reserve Bank and other restricted stock\t70387\t84214\nAccrued interest receivable\t65668\t38072\nBank premises and equipment net\t11744\t9389\nBank-owned life insurance\t277826\t272546\nOther real estate owned\t131\t173\nGoodwill and other intangibles\t14437\t15195\nOther assets\t423569\t298052\nTotal assets\t18778727\t11520717\nLIABILITIES AND SHAREHOLDERS' EQUITY\t\t\nLiabilities:\t\t\nDeposits:\t\t\nDemand non-interest bearing\t2327017\t1343391\nInterest bearing\t8512060\t7305545\nTotal deposits\t10839077\t8648936\nFederal funds purchased\t680000\t538000\nFHLB advances\t850000\t850000\nOther borrowings\t123935\t123630\nSubordinated debt\t181324\t181115\nFRB PPP liquidity facility\t4811009\t0\nAccrued interest payable and other liabilities\t241891\t126241\nTotal liabilities\t17727236\t10467922\nCommitments and contingencies (NOTE 15)\t\t\nShareholders' equity:\t\t\nPreferred stock par value $1.00 per share; liquidation preference $25.00 per share; 100000000 shares authorized 9000000 shares issued and outstanding as of September 30 2020 and December 31 2019\t217471\t217471\nCommon stock par value $1.00 per share; 200000000 shares authorized; 32835743 and 32617410 shares issued as of September 30 2020 and December 31 2019; 31555124 and 31336791 shares outstanding as of September 30 2020 and December 31 2019\t32836\t32617\nAdditional paid in capital\t452965\t444218\nRetained earnings\t385750\t381519\nAccumulated other comprehensive loss net\t(15751)\t(1250)\nTreasury stock at cost (1280619 shares as of September 30 2020 and December 31 2019)\t(21780)\t(21780)\nTotal shareholders' equity\t1051491\t1052795\nTotal liabilities and shareholders' equity\t18778727\t11520717\n", "q10k_tbl_4": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nInterest income:\t\t\t\t\nLoans and leases\t132107\t118444\t366634\t315126\nInvestment securities\t6297\t5867\t17429\t18589\nOther\t1246\t2407\t6149\t6030\nTotal interest income\t139650\t126718\t390212\t339745\nInterest expense:\t\t\t\t\nDeposits\t18347\t38267\t75939\t105472\nFHLB advances\t5762\t7563\t15889\t20463\nSubordinated debt\t2689\t1684\t8066\t5053\nFRB PPP liquidity facility federal funds purchased and other borrowings\t5413\t3469\t9576\t9039\nTotal interest expense\t32211\t50983\t109470\t140027\nNet interest income\t107439\t75735\t280742\t199718\nProvision for credit losses on loans and leases\t12955\t4426\t65688\t14539\nNet interest income after provision for credit losses on loans and leases\t94484\t71309\t215054\t185179\nNon-interest income:\t\t\t\t\nInterchange and card revenue\t4081\t6869\t17368\t22435\nDeposit fees\t3439\t3642\t10221\t9199\nCommercial lease income\t4510\t3080\t13286\t8212\nBank-owned life insurance\t1746\t1824\t5265\t5477\nMortgage warehouse transactional fees\t3320\t2150\t7854\t5145\nGain (loss) on sale of SBA and other loans\t286\t0\t320\t0\nMortgage banking income\t1013\t283\t1347\t701\nLoss upon acquisition of interest-only GNMA securities\t0\t0\t0\t(7476)\nGain (loss) on sale of investment securities\t11707\t1001\t20035\t1001\nUnrealized gain (loss) on investment securities\t238\t1333\t60\t988\nOther\t3453\t3187\t2203\t9443\nTotal non-interest income\t33793\t23369\t77959\t55125\nNon-interest expense:\t\t\t\t\nSalaries and employee benefits\t32676\t27193\t92283\t79936\nTechnology communication and bank operations\t13215\t8755\t39576\t33110\nProfessional services\t7253\t8348\t19476\t18639\nOccupancy\t3632\t3661\t9689\t9628\nCommercial lease depreciation\t3663\t2459\t10733\t6633\nFDIC assessments non-income taxes and regulatory fees\t3784\t(777)\t9019\t3368\nProvision for operating losses\t1186\t3998\t3166\t8223\nAdvertising and promotion\t0\t976\t2221\t3145\nMerger and acquisition related expenses\t1035\t0\t1110\t0\nLoan workout\t846\t495\t3020\t1458\nOther real estate owned\t7\t108\t26\t151\nOther\t(1736)\t4376\t5206\t8869\nTotal non-interest expense\t65561\t59592\t195525\t173160\nIncome before income tax expense\t62716\t35086\t97488\t67144\nIncome tax expense\t12201\t8020\t21156\t15343\nNet income\t50515\t27066\t76332\t51801\nPreferred stock dividends\t3430\t3615\t10626\t10844\nNet income (loss) available to common shareholders\t47085\t23451\t65706\t40957\nBasic earnings (loss) per common share\t1.49\t0.75\t2.09\t1.32\nDiluted earnings (loss) per common share\t1.48\t0.74\t2.07\t1.30\n", "q10k_tbl_5": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nNet income\t50515\t27066\t76332\t51801\nUnrealized gains (losses) on available for sale debt securities:\t\t\t\t\nUnrealized gains (losses) arising during the period\t(1090)\t7858\t25127\t46430\nIncome tax effect\t283\t(2043)\t(6533)\t(12072)\nReclassification adjustments for (gains) losses included in net income\t(11707)\t(1001)\t(20035)\t(1001)\nIncome tax effect\t3044\t260\t5209\t260\nNet unrealized gains (losses) on available for sale debt securities\t(9470)\t5074\t3768\t33617\nUnrealized gains (losses) on cash flow hedges:\t\t\t\t\nUnrealized gains (losses) arising during the period\t580\t(5163)\t(33486)\t(26204)\nIncome tax effect\t(151)\t1342\t8884\t6813\nReclassification adjustment for (gains) losses included in net income\t4400\t764\t8596\t355\nIncome tax effect\t(1145)\t(198)\t(2263)\t(92)\nNet unrealized gains (losses) on cash flow hedges\t3684\t(3255)\t(18269)\t(19128)\nOther comprehensive income (loss) net of income tax effect\t(5786)\t1819\t(14501)\t14489\nComprehensive income (loss)\t44729\t28885\t61831\t66290\n", "q10k_tbl_6": "\tThree Months Ended September 30 2020\t\t\t\t\t\t\t\t\n\tPreferred Stock\t\tCommon Stock\t\t\t\t\t\t\n\tShares of Preferred Stock Outstanding\tPreferred Stock\tShares of Common Stock Outstanding\tCommon Stock\tAdditional Paid in Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss)\tTreasury Stock\tTotal\nBalance June 30 2020\t9000000\t217471\t31510287\t32791\t450665\t338665\t(9965)\t(21780)\t1007847\nNet income\t0\t0\t0\t0\t0\t50515\t0\t0\t50515\nOther comprehensive income (loss)\t0\t0\t0\t0\t0\t0\t(5786)\t0\t(5786)\nPreferred stock dividends(1)\t0\t0\t0\t0\t0\t(3430)\t0\t0\t(3430)\nShare-based compensation expense\t0\t0\t0\t0\t2028\t0\t0\t0\t2028\nIssuance of common stock under share-based compensation arrangements\t0\t0\t44837\t45\t272\t0\t0\t0\t317\nBalance September 30 2020\t9000000\t217471\t31555124\t32836\t452965\t385750\t(15751)\t(21780)\t1051491\n\tThree Months Ended September 30 2019\t\t\t\t\t\t\t\t\n\tPreferred Stock\t\tCommon Stock\t\t\t\t\t\t\n\tShares of Preferred Stock Outstanding\tPreferred Stock\tShares of Common Stock Outstanding\tCommon Stock\tAdditional Paid in Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss)\tTreasury Stock\tTotal\nBalance June 30 2019\t9000000\t217471\t31202023\t32483\t439067\t334157\t(9993)\t(21780)\t991405\nNet income\t0\t0\t0\t0\t0\t27066\t0\t0\t27066\nOther comprehensive income (loss)\t0\t0\t0\t0\t0\t0\t1819\t0\t1819\nPreferred stock dividends(1)\t0\t0\t0\t0\t0\t(3615)\t0\t0\t(3615)\nShare-based compensation expense\t0\t0\t0\t0\t2133\t0\t0\t0\t2133\nIssuance of common stock under share-based compensation arrangements\t0\t0\t43753\t43\t299\t0\t0\t0\t342\nBalance September 30 2019\t9000000\t217471\t31245776\t32526\t441499\t357608\t(8174)\t(21780)\t1019150\n", "q10k_tbl_7": "\tNine Months Ended September 30 2020\t\t\t\t\t\t\t\t\n\tPreferred Stock\t\tCommon Stock\t\t\t\t\t\t\n\tShares of Preferred Stock Outstanding\tPreferred Stock\tShares of Common Stock Outstanding\tCommon Stock\tAdditional Paid in Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss)\tTreasury Stock\tTotal\nBalance December 31 2019\t9000000\t217471\t31336791\t32617\t444218\t381519\t(1250)\t(21780)\t1052795\nCumulative effect from change in accounting principle - CECL\t0\t0\t0\t0\t0\t(61475)\t0\t0\t(61475)\nNet income\t0\t0\t0\t0\t0\t76332\t0\t0\t76332\nOther comprehensive income (loss)\t0\t0\t0\t0\t0\t0\t(14501)\t0\t(14501)\nPreferred stock dividends(1)\t0\t0\t0\t0\t0\t(10626)\t0\t0\t(10626)\nShare-based compensation expense\t0\t0\t0\t0\t8855\t0\t0\t0\t8855\nIssuance of common stock under share-based compensation arrangements\t0\t0\t218333\t219\t(108)\t0\t0\t0\t111\nBalance September 30 2020\t9000000\t217471\t31555124\t32836\t452965\t385750\t(15751)\t(21780)\t1051491\n\tNine Months Ended September 30 2019\t\t\t\t\t\t\t\t\n\tPreferred Stock\t\tCommon Stock\t\t\t\t\t\t\n\tShares of Preferred Stock Outstanding\tPreferred Stock\tShares of Common Stock Outstanding\tCommon Stock\tAdditional Paid in Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss)\tTreasury Stock\tTotal\nBalance December 31 2018\t9000000\t217471\t31003028\t32252\t434314\t316651\t(22663)\t(21209)\t956816\nNet income\t0\t0\t0\t0\t0\t51801\t0\t0\t51801\nOther comprehensive income (loss)\t0\t0\t0\t0\t0\t0\t14489\t0\t14489\nPreferred stock dividends(1)\t0\t0\t0\t0\t0\t(10844)\t0\t\t(10844)\nShare-based compensation expense\t0\t0\t0\t0\t6557\t0\t0\t0\t6557\nIssuance of common stock under share-based compensation arrangements\t0\t0\t273907\t274\t628\t0\t0\t0\t902\nRepurchase of common shares\t0\t0\t(31159)\t0\t0\t0\t0\t(571)\t(571)\nBalance September 30 2019\t9000000\t217471\t31245776\t32526\t441499\t357608\t(8174)\t(21780)\t1019150\n", "q10k_tbl_8": "\tNine Months Ended September 30\t\n\t2020\t2019\nCash Flows from Operating Activities\t\t\nNet income\t76332\t51801\nAdjustments to reconcile net income to net cash provided by (used in) operating activities:\t\t\nProvision for credit losses on loan and lease losses\t65688\t14539\nDepreciation and amortization\t22557\t15167\nShare-based compensation expense\t9474\t7289\nDeferred taxes\t(26188)\t8701\nNet amortization (accretion) of investment securities premiums and discounts\t(449)\t691\nUnrealized (gain) loss on investment securities\t(60)\t(988)\n(Gain) loss on sale of investment securities\t(20035)\t(1001)\nLoss upon acquisition of interest-only GNMA securities\t0\t7476\n(Gain) loss on sale of SBA and other loans\t194\t(602)\nOrigination of loans held for sale\t(50941)\t(35760)\nProceeds from the sale of loans held for sale\t47009\t36115\nAmortization (accretion) of fair value discounts and premiums\t(2106)\t561\nNet (gain) loss on sales of other real estate owned\t(4)\t137\nValuation and other adjustments to other real estate owned\t0\t31\nEarnings on investment in bank-owned life insurance\t(5265)\t(5477)\n(Increase) decrease in accrued interest receivable and other assets\t(124378)\t(79299)\nIncrease (decrease) in accrued interest payable and other liabilities\t81640\t15302\nNet Cash Provided By Operating Activities\t73468\t34683\nCash Flows from Investing Activities\t\t\nProceeds from maturities calls and principal repayments of investment securities\t156759\t22627\nProceeds from sales of investment securities available for sale\t377767\t97555\nPurchases of investment securities available for sale\t(1024345)\t0\nOrigination of mortgage warehouse loans\t(41764787)\t(22167517)\nProceeds from repayments of mortgage warehouse loans\t40106032\t21049044\nNet (increase) decrease in loans and leases excluding mortgage warehouse loans\t(4733097)\t(6808)\nProceeds from sales of loans and leases\t23390\t0\nPurchase of loans\t(226498)\t(636366)\nNet proceeds from sale of (purchases of) FHLB Federal Reserve Bank and other restricted stock\t13827\t7832\nPurchases of bank premises and equipment\t(4231)\t(5397)\nProceeds from sales of other real estate owned\t77\t735\nPurchases of leased assets under lessor operating leases\t(11432)\t(27239)\nNet Cash Used In Investing Activities\t(7086538)\t(1665534)\nCash Flows from Financing Activities\t\t\nNet increase in deposits\t2190141\t1783449\nNet increase (decrease) in short-term borrowed funds from the FHLB\t0\t(557270)\nNet increase (decrease) in federal funds purchased\t142000\t186000\nNet increase (decrease) in borrowed funds from PPP liquidity facility\t4811009\t0\nProceeds from long-term borrowed funds from the FHLB\t0\t350000\nProceeds from issuance of subordinated long-term debt\t0\t25000\nRepayments of other borrowings\t0\t(25000)\nPreferred stock dividends paid\t(10661)\t(10844)\nPurchase of treasury stock\t0\t(571)\nPayments of employee taxes withheld from share-based awards\t(1143)\t(1366)\nProceeds from issuance of common stock\t635\t1536\nNet Cash Provided By Financing Activities\t7131981\t1750934\nNet Increase (Decrease) in Cash and Cash Equivalents\t118911\t120083\nCash and Cash Equivalents - Beginning\t212505\t62135\nCash and Cash Equivalents - Ending\t331416\t182218\n\t(continued)\t\n\tNine Months Ended September 30\t\n\t2020\t2019\nNon-cash Operating and Investing Activities:\t\t\nTransfer of loans to other real estate owned\t31\t291\nTransfer of loans held for investment to held for sale\t18336\t499774\nUnsettled purchases of investment securities\t22500\t0\nTransfer of multi-family loans held for sale to held for investment\t401144\t0\nAcquisition of interest-only GNMA securities securing a mortgage warehouse loan\t0\t17157\nAcquisition of residential reverse mortgage loans securing a mortgage warehouse loan\t0\t1325\n", "q10k_tbl_9": "\tPre-ASC 326 Adoption\tImpact of ASC 326 Adoption\tAs Reported Under ASC 326\nAssets\t\t\t\nLoans receivable mortgage warehouse at fair value\t2245758\t0\t2245758\nLoans and leases receivable\t\t\t\nMulti-family\t1907331\t7\t1907338\nCommercial and industrial\t1891152\t3\t1891155\nCommercial real estate owner occupied\t551948\t100\t552048\nCommercial real estate non-owner occupied\t1222772\t41\t1222813\nConstruction\t117617\t0\t117617\nTotal commercial loans and leases receivable\t5690820\t151\t5690971\nResidential real estate\t382634\t32\t382666\nManufactured housing\t71359\t37\t71396\nInstallment\t1174175\t12\t1174187\nTotal consumer loans receivable\t1628168\t81\t1628249\nLoans and leases receivable\t7318988\t232\t7319220\nAllowance for credit losses on loans and leases\t(56379)\t(79829)\t(136208)\nTotal loans and leases receivable net of allowance for credit losses on loans and leases\t9508367\t(79596)\t9428771\nLiabilities\t\t\t\nAllowance for credit losses on lending-related commitments\t49\t3388\t3437\nNet deferred tax (asset) liability\t11740\t(21510)\t(9770)\nEquity\t\t\t\nRetained earnings\t381519\t(61475)\t320044\n", "q10k_tbl_10": "Standard\tSummary of guidance\tEffects on Financial Statements\nASU 2019-04 Codification Improvements to Topic 326 Financial Instruments - Credit Losses Topic 815 Derivatives and Hedging and Topic 825 Financial Instruments Issued April 2019\t- Clarifies the scope of the credit losses standard and addresses issues related to accrued interest receivable balances recoveries variable interest rates and prepayments. - Addresses partial-term fair value hedges fair value hedge basis adjustments and certain transition requirements. - Addresses recognizing and measuring financial instruments specifically the requirement for remeasurement under ASC 820 when using the measurement alternative certain disclosure requirements and which equity securities have to be remeasured at historical exchange rates. - Topic 326 Amendments - Effective for fiscal years beginning after December 15 2019 and interim periods within those fiscal years. Early adoption permitted. Topic 815 Amendments - Effective for first annual period beginning after the issuance date of this ASU (i.e. fiscal year 2020). Entities that have already adopted the amendments in ASU 2017-12 may elect either to retrospectively apply all the amendments or to prospectively apply all amendments as of the date of adoption. Topic 825 Amendments - Effective for fiscal years beginning after December 15 2019 including interim periods within those fiscal years.\t- Customers adopted on January 1 2020. - The adoption of this guidance relating to Topics 815 and 825 did not have a material impact on Customers' financial condition results of operations and consolidated financial statements. Please refer to ASU 2016-13 for further discussion on Customers' adoption of ASU 2016-13 (Topic 326).\nASU 2018-18 Collaborative Arrangements (Topic 808): Clarifying the Interaction Between Topic 808 and Topic 606 Issued November 2018\t- Clarifies that certain transactions between collaborative arrangement participants should be accounted for as revenue under Topic 606 when the collaborative arrangement participant is a customer in the context of a unit of account. In those situations all the guidance in Topic 606 should be applied including recognition measurement presentation and disclosure requirements. - Adds unit-of-account guidance in Topic 808 to align with the guidance in Topic 606 when an entity is assessing whether the collaborative arrangement or a part of the arrangement is within scope of Topic 606. - Requires that in a transaction with a collaborative arrangement participant that is not directly related to sales to third parties presenting the transaction together with revenue recognized under Topic 606 is precluded if the collaborative arrangement participant is not a customer. - Effective for fiscal year beginning after December 15 2019 and interim periods within those fiscal years. Early adoption permitted.\t- Customers adopted on January 1 2020. - The adoption of this guidance did not have a material impact on Customers' financial condition results of operations and consolidated financial statements.\n", "q10k_tbl_11": "Standard\tSummary of guidance\tEffects on Financial Statements\nASU 2018-15 Internal-Use Software (Subtopic 350-40): Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract Issued August 2018\t- Clarifies that service contracts with hosting arrangements must follow internal-use software guidance Subtopic 350-40 when determining which implementation costs to capitalize as an asset related to the service contract and which costs to expense. - Also clarifies that capitalized implementation costs of a hosting arrangement that is a service contract are to be amortized over the term of the hosting arrangement which includes the noncancelable period of the arrangement plus options to extend the arrangement if reasonably certain to exercise. - Clarifies that existing impairment guidance in Subtopic 350-40 must be applied to the capitalized implementation costs as if they were long-lived assets. - Applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. - Effective for fiscal year beginning after December 15 2019 and interim periods within those fiscal years. Early adoption permitted.\t- Customers adopted on January 1 2020. - The adoption of this guidance did not have a material impact on Customers' financial condition results of operations and consolidated financial statements.\n", "q10k_tbl_12": "Standard\tSummary of guidance\tEffects on Financial Statements\nASU 2020-04 Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting Issued March 2020\t- Provides optional guidance for a limited period of time to ease the potential burden in accounting for (or derecognizing the effects of) reference rate reform on financial reporting. Specifically the amendments provide optional expedients and exceptions for applying GAAP to contracts hedging relationships and other transactions affected by reference rate reform if certain criteria are met. These relate only to those contracts hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. - Effective as of March 12 2020 and can be adopted anytime during the period of January 1 2020 through December 31 2022.\t- Customers intends to adopt this guidance during adoption period and is currently evaluating the expected impact of this ASU on its financial condition results of operations and consolidated financial statements.\n", "q10k_tbl_13": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(amounts in thousands except share and per share data)\t2020\t2019\t2020\t2019\nNet income available to common shareholders\t47085\t23451\t65706\t40957\nWeighted-average number of common shares outstanding - basic\t31517504\t31223777\t31462284\t31142400\nShare-based compensation plans\t218807\t420951\t203743\t438629\nWeighted-average number of common shares - diluted\t31736311\t31644728\t31666027\t31581029\nBasic earnings (loss) per common share\t1.49\t0.75\t2.09\t1.32\nDiluted earnings (loss) per common share\t1.48\t0.74\t2.07\t1.30\n", "q10k_tbl_14": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nShare-based compensation awards\t862417\t2181195\t862417\t2233160\n", "q10k_tbl_15": "\tThree Months Ended September 30 2020\t\t\n(amounts in thousands)\tUnrealized Gains (Losses) on Available for Sale Securities (1)\tUnrealized Gains (Losses) on Cash Flow Hedges (2)\tTotal\nBalance - June 30 2020\t27525\t(37490)\t(9965)\nUnrealized gains (losses) arising during period before tax\t(1090)\t580\t(510)\nIncome tax effect\t283\t(151)\t132\nOther comprehensive income (loss) before reclassifications\t(807)\t429\t(378)\nReclassification adjustments for (gains) losses included in net income before tax\t(11707)\t4400\t(7307)\nIncome tax effect\t3044\t(1145)\t1899\nAmounts reclassified from accumulated other comprehensive income (loss) to net income\t(8663)\t3255\t(5408)\nNet current-period other comprehensive income (loss)\t(9470)\t3684\t(5786)\nBalance - September 30 2020\t18055\t(33806)\t(15751)\n", "q10k_tbl_16": "\tNine Months Ended September 30 2020\t\n(amounts in thousands)\tUnrealized Gains (Losses) Available for Sale Securities (1)\tUnrealized Gains (Losses) on Cash Flow Hedges (2)\t\t\t\tTotal\t\t\nBalance - December 31 2019\t14287\t(15537)\t\t\t\t(1250)\t\t\nUnrealized gains (losses) arising during period before tax\t25127\t(33486)\t\t\t\t(8359)\t\t\nIncome tax effect\t(6533)\t8884\t\t\t\t2351\t\t\nOther comprehensive income (loss) before reclassifications\t18594\t(24602)\t\t\t\t(6008)\t\t\nReclassification adjustments for (gains) losses included in net income before tax\t(20035)\t8596\t\t\t\t(11439)\t\t\nIncome tax effect\t5209\t(2263)\t\t\t\t2946\t\t\nAmounts reclassified from accumulated other comprehensive income (loss) to net income\t(14826)\t6333\t\t\t\t(8493)\t\t\nNet current-period other comprehensive income (loss)\t3768\t(18269)\t\t\t\t(14501)\t\t\nBalance - September 30 2020\t18055\t(33806)\t\t\t\t(15751)\t\t\n", "q10k_tbl_17": "\tThree Months Ended September 30 2019\t\t\n(amounts in thousands)\tUnrealized Gains (Losses) on Available for Sale Securities (1)\tUnrealized Gains (Losses) on Cash Flow Hedges (2)\tTotal\nBalance - June 30 2019\t6802\t(16795)\t(9993)\nUnrealized gains (losses) arising during period before tax\t7858\t(5163)\t2695\nIncome tax effect\t(2043)\t1342\t(701)\nOther comprehensive income (loss) before reclassifications\t5815\t(3821)\t1994\nReclassification adjustments for losses (gains) included in net income before tax\t(1001)\t764\t(237)\nIncome tax effect\t260\t(198)\t62\nAmounts reclassified from accumulated other comprehensive income (loss) to net income\t(741)\t566\t(175)\nNet current-period other comprehensive income (loss)\t5074\t(3255)\t1819\nBalance - September 30 2019\t11876\t(20050)\t(8174)\n", "q10k_tbl_18": "\tNine Months Ended September 30 2019\t\t\n(amounts in thousands)\tUnrealized Gains (Losses) on Available for Sale Securities (1)\tUnrealized Gains (Losses) on Cash Flow Hedges (2)\tTotal\nBalance - December 31 2018\t(21741)\t(922)\t(22663)\nUnrealized gains (losses) arising during period before tax\t46430\t(26204)\t20226\nIncome tax effect\t(12072)\t6813\t(5259)\nOther comprehensive income (loss) before reclassifications\t34358\t(19391)\t14967\nReclassification adjustments for losses (gains) included in net income before tax\t(1001)\t355\t(646)\nIncome tax effect\t260\t(92)\t168\nAmounts reclassified from accumulated other comprehensive income (loss) to net income\t(741)\t263\t(478)\nNet current-period other comprehensive income\t33617\t(19128)\t14489\nBalance - September 30 2019\t11876\t(20050)\t(8174)\n", "q10k_tbl_19": "\tSeptember 30 2020 (1)\t\t\t\n(amounts in thousands)\tAmortized Cost\tGross Unrealized Gains\tGross Unrealized Losses\tFair Value\nAvailable for sale debt securities:\t\t\t\t\nAsset-backed securities\t374151\t1404\t(174)\t375381\nU.S. government agencies securities\t40000\t8\t0\t40008\nAgency-guaranteed residential mortgage-backed securities\t59013\t2066\t0\t61079\nAgency-guaranteed collateralized mortgage obligations\t153088\t771\t(80)\t153779\nState and political subdivision debt securities (2)\t17391\t868\t0\t18259\nPrivate label collateralized mortgage obligations\t118979\t8\t0\t118987\nCorporate notes (3)\t344344\t19632\t(104)\t363872\nAvailable for sale debt securities\t1106966\t24757\t(358)\t1131365\nEquity securities (5)\t\t\t\t2466\nTotal investment securities at fair value\t\t\t\t1133831\n", "q10k_tbl_20": "\tDecember 31 2019\t\t\t\n(amounts in thousands)\tAmortized Cost\tGross Unrealized Gains\tGross Unrealized Losses\tFair Value\nAvailable for sale debt securities:\t\t\t\t\nAgency-guaranteed residential mortgage-backed securities\t273252\t5069\t0\t278321\nCorporate notes (3)\t284639\t14238\t0\t298877\nAvailable for sale debt securities\t557891\t19307\t0\t577198\nInterest-only GNMA securities (4)\t\t\t\t16272\nEquity securities (5)\t\t\t\t2406\nTotal investment securities at fair value\t\t\t\t595876\n", "q10k_tbl_21": "\tSeptember 30 2020\t\n(amounts in thousands)\tAmortized Cost\tFair Value\nDue in one year or less\t8000\t8000\nDue after one year through five years\t83209\t84275\nDue after five years through ten years\t274135\t292605\nDue after ten years\t36391\t37259\nAsset-backed securities\t374151\t375381\nAgency-guaranteed residential mortgage-backed securities\t59013\t61079\nAgency-guaranteed collateralized mortgage obligations\t153088\t153779\nPrivate label collateralized mortgage obligations\t118979\t118987\nTotal debt securities\t1106966\t1131365\n", "q10k_tbl_22": "\tSeptember 30 2020\t\t\t\t\t\n\tLess Than 12 Months\t\t12 Months or More\t\tTotal\t\n(amounts in thousands)\tFair Value\tUnrealized Losses\tFair Value\tUnrealized Losses\tFair Value\tUnrealized Losses\nAvailable for sale debt securities:\t\t\t\t\t\t\nAsset-backed securities\t107610\t(174)\t0\t0\t107610\t(174)\nAgency-guaranteed residential mortgage-backed securities\t19019\t(80)\t0\t0\t19019\t(80)\nCorporate notes\t40409\t(104)\t0\t0\t40409\t(104)\nTotal\t167038\t(358)\t0\t0\t167038\t(358)\n", "q10k_tbl_23": "(amounts in thousands)\tSeptember 30 2020\tDecember 31 2019\nCommercial loans:\t\t\nMulti-family loans at lower of cost or fair value\t0\t482873\nCommercial real estate non-owner occupied loans at lower of cost or fair value\t18366\t0\nTotal commercial loans held for sale\t18366\t482873\nConsumer loans:\t\t\nHome equity conversion mortgages at lower of cost or fair value\t1325\t1325\nResidential mortgage loans at fair value\t6998\t2130\nTotal consumer loans held for sale\t8323\t3455\nLoans held for sale\t26689\t486328\n", "q10k_tbl_24": "(amounts in thousands)\tSeptember 30 2020\tDecember 31 2019\nLoans and leases receivable mortgage warehouse at fair value\t3913593\t2245758\nLoans receivable PPP\t4964105\t0\nLoans receivable:\t\t\nCommercial:\t\t\nMulti-family\t1950300\t1907331\nCommercial and industrial (1)\t2220715\t1891152\nCommercial real estate owner occupied\t557595\t551948\nCommercial real estate non-owner occupied\t1215516\t1222772\nConstruction\t122963\t117617\nTotal commercial loans and leases receivable\t6067089\t5690820\nConsumer:\t\t\nResidential real estate\t335452\t382634\nManufactured housing\t64638\t71359\nInstallment\t1233713\t1174175\nTotal consumer loans receivable\t1633803\t1628168\nLoans and leases receivable (2)\t7700892\t7318988\nAllowance for credit losses\t(155561)\t(56379)\nTotal loans and leases receivable net of allowance for credit losses\t16423029\t9508367\n", "q10k_tbl_25": "\tSeptember 30 2020\t\t\t\t\t\n(amounts in thousands)\t30-59 Days past due\t60-89 Days past due\t90 Days or more past due\tTotal past due\tLoans and leases not past due (2)\tTotal loans and leases (3)\nMulti-family\t0\t15446\t4790\t20236\t1930064\t1950300\nCommercial and industrial\t0\t2072\t7695\t9767\t2210948\t2220715\nCommercial real estate owner occupied\t0\t952\t2436\t3388\t554207\t557595\nCommercial real estate non-owner occupied\t0\t0\t2356\t2356\t1213160\t1215516\nConstruction\t0\t0\t0\t0\t122963\t122963\nResidential real estate\t436\t3160\t6327\t9923\t325529\t335452\nManufactured housing\t784\t608\t4463\t5855\t58783\t64638\nInstallment\t5468\t4609\t3098\t13175\t1220538\t1233713\nTotal\t6688\t26847\t31165\t64700\t7636192\t7700892\n", "q10k_tbl_26": "\tDecember 31 2019\t\t\t\t\t\t\n(amounts in thousands)\t30-89 Days past due (1)\t90 Days or more past due (1)\tTotal past due (1)\tNon-accrual\tCurrent (2)\tPurchased-credit-impaired loans (4)\tTotal loans and leases (5)\nMulti-family\t2133\t0\t2133\t4117\t1901336\t1688\t1909274\nCommercial and industrial\t2395\t0\t2395\t4531\t1882700\t354\t1889980\nCommercial real estate owner occupied\t5388\t0\t5388\t1963\t537992\t6664\t552007\nCommercial real estate non-owner occupied\t8034\t0\t8034\t76\t1211892\t3527\t1223529\nConstruction\t0\t0\t0\t0\t118418\t0\t118418\nResidential real estate\t5924\t0\t5924\t6128\t359491\t3471\t375014\nManufactured housing\t3699\t1794\t5493\t1655\t61649\t1601\t70398\nInstallment\t5756\t0\t5756\t1551\t1170793\t183\t1178283\nTotal\t33329\t1794\t35123\t20021\t7244271\t17488\t7316903\n", "q10k_tbl_27": "\tSeptember 30 2020 (1)\t\t\tDecember 31 2019 (2)\t\t\n(amounts in thousands)\tNonaccrual loans with no related allowance\tNonaccrual loans with related allowance\tTotal nonaccrual loans\tNonaccrual loans with no related allowance\tNonaccrual loans with related allowance\tTotal nonaccrual loans\t\t\t\t\t\t\t\t\t\t\t\t\nMulti-family\t8749\t2961\t11710\t4117\t0\t4117\t\t\t\t\t\t\t\t\t\t\t\t\nCommercial and industrial\t8749\t884\t9633\t3083\t1448\t4531\t\t\t\t\t\t\t\t\t\t\t\t\nCommercial real estate owner occupied\t3399\t200\t3599\t1109\t854\t1963\t\t\t\t\t\t\t\t\t\t\t\t\nCommercial real estate non-owner occupied\t2408\t0\t2408\t76\t0\t76\t\t\t\t\t\t\t\t\t\t\t\t\nResidential real estate\t10634\t0\t10634\t4559\t1569\t6128\t\t\t\t\t\t\t\t\t\t\t\t\nManufactured housing\t0\t2778\t2778\t0\t1655\t1655\t\t\t\t\t\t\t\t\t\t\t\t\nInstallment\t0\t3118\t3118\t140\t1411\t1551\t\t\t\t\t\t\t\t\t\t\t\t\nTotal\t33939\t9941\t43880\t13084\t6937\t20021\t\t\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_28": "Three Months Ended September 30 2020\tMulti-family\tCommercial and industrial\tCommercial real estate owner occupied\tCommercial real estate non-owner occupied\tConstruction\tResidential real estate\tManufactured housing\tInstallment\tTotal\n(amounts in thousands)\t\t\t\t\t\t\t\t\t\nEnding Balance June 30 2020\t14697\t12302\t11405\t26493\t5297\t4550\t6014\t79147\t159905\nCharge-offs\t0\t(2527)\t(44)\t(10181)\t0\t0\t0\t(9194)\t(21946)\nRecoveries\t0\t2582\t0\t1258\t6\t17\t0\t784\t4647\nProvision for credit loss expense\t329\t569\t(1809)\t2630\t1120\t82\t(389)\t10423\t12955\nEnding Balance September 30 2020\t15026\t12926\t9552\t20200\t6423\t4649\t5625\t81160\t155561\nNine Months Ended September 30 2020\t\t\t\t\t\t\t\t\t\nEnding Balance December 31 2019\t6157\t15556\t2235\t6243\t1262\t3218\t1060\t20648\t56379\nCumulative effect of change in accounting principle\t2171\t759\t5773\t7918\t(98)\t1518\t3802\t57986\t79829\nCharge-offs\t0\t(2645)\t(44)\t(25779)\t0\t0\t0\t(23744)\t(52212)\nRecoveries\t0\t2661\t5\t1258\t122\t72\t0\t1759\t5877\nProvision for loan and lease losses\t6698\t(3405)\t1583\t30560\t5137\t(159)\t763\t24511\t65688\nEnding Balance September 30 2020\t15026\t12926\t9552\t20200\t6423\t4649\t5625\t81160\t155561\n", "q10k_tbl_29": "Three Months Ended September 30 2019\tMulti-family\tCommercial and industrial\tCommercial real estate owner occupied\tCommercial real estate non-owner occupied\tConstruction\tResidential real estate\tManufactured housing\tInstallment\tTotal\n(amounts in thousands)\t\t\t\t\t\t\t\t\t\nEnding Balance June 30 2019\t9926\t13736\t3360\t6159\t649\t4168\t123\t10267\t48388\nCharge-offs\t0\t(349)\t(45)\t0\t0\t0\t0\t(1806)\t(2200)\nRecoveries\t0\t369\t10\t0\t8\t5\t0\t47\t439\nProvision for loan and lease losses\t(2428)\t2119\t(435)\t281\t1\t(90)\t904\t4074\t4426\nEnding Balance September 30 2019\t7498\t15875\t2890\t6440\t658\t4083\t1027\t12582\t51053\nNine Months Ended September 30 2019\t\t\t\t\t\t\t\t\t\nEnding Balance December 31 2018\t11462\t12145\t3320\t6093\t624\t3654\t145\t2529\t39972\nCharge-offs\t(541)\t(532)\t(119)\t0\t0\t(109)\t0\t(3493)\t(4794)\nRecoveries\t7\t826\t235\t0\t128\t20\t0\t120\t1336\nProvision for loan and lease losses\t(3430)\t3436\t(546)\t347\t(94)\t518\t882\t13426\t14539\nEnding Balance September 30 2019\t7498\t15875\t2890\t6440\t658\t4083\t1027\t12582\t51053\n", "q10k_tbl_30": "\tThree Months Ended September 30\t\t\t\tNine Months Ended September 30\t\t\t\n\t2020\t\t2019\t\t2020\t\t2019\t\n(dollars in thousands)\tNumber of loans\tRecorded investment\tNumber of loans\tRecorded investment\tNumber of loans\tRecorded investment\tNumber of loans\tRecorded investment\nExtensions of maturity\t0\t0\t0\t0\t6\t385\t2\t514\nInterest-rate reductions\t2\t88\t7\t196\t34\t1461\t19\t628\nOther (1)\t65\t1385\t0\t0\t65\t1385\t0\t0\nTotal\t67\t1473\t7\t196\t105\t3231\t21\t1142\n", "q10k_tbl_31": "\tSeptember 30 2020\t\tSeptember 30 2019\t\n(dollars in thousands)\tNumber of loans\tRecorded investment\tNumber of loans\tRecorded investment\nManufactured housing\t5\t201\t3\t76\nCommercial real estate owner occupied\t1\t952\t0\t0\nResidential real estate\t1\t95\t1\t82\nInstallment\t8\t126\t0\t0\nTotal loans\t15\t1374\t4\t158\n", "q10k_tbl_32": "\tTerm Loans Amortized Cost Basis by Origination Year\t\t\t\t\t\t\t\t\n(in thousands)\t2020\t2019\t2018\t2017\t2016\tPrior\tRevolving loans amortized cost basis\tRevolving loans converted to term\tTotal\nMulti-family loans:\t\t\t\t\t\t\t\t\t\nPass\t139734\t23396\t305351\t626402\t271981\t485023\t0\t0\t1851887\nSpecial mention\t0\t0\t0\t22430\t10424\t26836\t0\t0\t59690\nSubstandard\t0\t0\t0\t17859\t13799\t7065\t0\t0\t38723\nDoubtful\t0\t0\t0\t0\t0\t0\t0\t0\t0\nTotal multi-family loans\t139734\t23396\t305351\t666691\t296204\t518924\t0\t0\t1950300\nCommercial and industrial loans and leases:\t\t\t\t\t\t\t\t\t\nPass\t564313\t418961\t153659\t118548\t48470\t81179\t739151\t0\t2124281\nSpecial mention\t13200\t1193\t222\t14739\t112\t15348\t1315\t0\t46129\nSubstandard\t6421\t9037\t14343\t1611\t8084\t2925\t7884\t0\t50305\nDoubtful\t0\t0\t0\t0\t0\t0\t0\t0\t0\nTotal commercial and industrial loans and leases\t583934\t429191\t168224\t134898\t56666\t99452\t748350\t0\t2220715\nCommercial real estate owner occupied loans:\t\t\t\t\t\t\t\t\t\nPass\t46303\t185921\t88291\t71438\t48202\t93679\t741\t0\t534575\nSpecial mention\t0\t0\t478\t9260\t0\t245\t0\t0\t9983\nSubstandard\t0\t0\t0\t347\t2243\t10447\t0\t0\t13037\nDoubtful\t0\t0\t0\t0\t0\t0\t0\t0\t0\nTotal commercial real estate owner occupied loans\t46303\t185921\t88769\t81045\t50445\t104371\t741\t0\t557595\nCommercial real estate non-owner occupied:\t\t\t\t\t\t\t\t\t\nPass\t135589\t113247\t116794\t225952\t197116\t346107\t0\t0\t1134805\nSpecial mention\t0\t0\t0\t0\t0\t10559\t0\t0\t10559\nSubstandard\t0\t0\t0\t20611\t2419\t47122\t0\t0\t70152\nDoubtful\t0\t0\t0\t0\t0\t0\t0\t0\t0\nTotal commercial real estate non-owner occupied loans\t135589\t113247\t116794\t246563\t199535\t403788\t0\t0\t1215516\nConstruction:\t\t\t\t\t\t\t\t\t\nPass\t8679\t98231\t4571\t0\t9768\t0\t1714\t0\t122963\nSpecial mention\t0\t0\t0\t0\t0\t0\t0\t0\t0\nSubstandard\t0\t0\t0\t0\t0\t0\t0\t0\t0\nDoubtful\t0\t0\t0\t0\t0\t0\t0\t0\t0\nTotal construction loans\t8679\t98231\t4571\t0\t9768\t0\t1714\t0\t122963\nTotal commercial loans and leases receivable\t914239\t849986\t683709\t1129197\t612618\t1126535\t750805\t0\t6067089\nResidential real estate loans:\t\t\t\t\t\t\t\t\t\nPerforming\t7514\t15252\t7647\t12246\t42883\t78365\t161575\t0\t325482\nNon-performing\t0\t0\t160\t785\t1350\t4395\t3280\t0\t9970\nTotal residential real estate loans\t7514\t15252\t7807\t13031\t44233\t82760\t164855\t0\t335452\nManufactured housing loans:\t\t\t\t\t\t\t\t\t\nPerforming\t0\t307\t632\t79\t42\t59193\t0\t0\t60253\nNon-performing\t0\t0\t0\t0\t0\t4385\t0\t0\t4385\nTotal manufactured housing loans\t0\t307\t632\t79\t42\t63578\t0\t0\t64638\nInstallment loans:\t\t\t\t\t\t\t\t\t\nPerforming\t318780\t790192\t115024\t4726\t513\t1201\t0\t0\t1230436\nNon-performing\t305\t2326\t485\t41\t2\t118\t0\t0\t3277\nTotal installment loans\t319085\t792518\t115509\t4767\t515\t1319\t0\t0\t1233713\nTotal consumer loans\t326599\t808077\t123948\t17877\t44790\t147657\t164855\t0\t1633803\nLoans and leases receivable\t1240838\t1658063\t807657\t1147074\t657408\t1274192\t915660\t0\t7700892\n", "q10k_tbl_33": "\tDecember 31 2019\t\t\t\t\t\t\t\t\n(amounts in thousands)\tMulti-family\tCommercial and industrial\tCommercial real estate owner occupied\tCommercial real estate non-owner occupied\tConstruction\tResidential real estate\tManufactured housing\tInstallment\tTotal (3)\nPass/Satisfactory\t1816200\t1841074\t536777\t1129838\t118418\t0\t0\t0\t5442307\nSpecial Mention\t69637\t26285\t8286\t6949\t0\t0\t0\t0\t111157\nSubstandard\t23437\t22621\t6944\t86742\t0\t0\t0\t0\t139744\nPerforming (1)\t0\t0\t0\t0\t0\t362962\t63250\t1170976\t1597188\nNon-performing (2)\t0\t0\t0\t0\t0\t12052\t7148\t7307\t26507\nTotal\t1909274\t1889980\t552007\t1223529\t118418\t375014\t70398\t1178283\t7316903\n", "q10k_tbl_34": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(amounts in thousands)\t2020\t2019\t2020\t2019\nPurchases (1)\t\t\t\t\nResidential real estate\t0\t0\t495\t105858\nInstallment (2)\t15700\t83898\t225468\t534150\nTotal\t15700\t83898\t225963\t640008\nSales (3)\t\t\t\t\nCommercial and industrial\t3968\t0\t3968\t0\nCommercial real estate non-owner occupied\t17600\t0\t17600\t0\nInstallment\t0\t0\t1822\t0\nTotal\t21568\t0\t23390\t0\n", "q10k_tbl_35": "(amounts in thousands)\tClassification\tSeptember 30 2020\tDecember 31 2019\nASSETS\t\t\t\nOperating lease ROU assets\tOther assets\t18419\t20232\nLIABILITIES\t\t\t\nOperating lease liabilities\tOther liabilities\t19813\t21358\n", "q10k_tbl_36": "\t\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(amounts in thousands)\tClassification\t2020\t2019\t2020\t2019\nOperating lease cost (1)\tOccupancy expenses\t1643\t1470\t4597\t4400\n", "q10k_tbl_37": "(amounts in thousands)\tSeptember 30 2020\n2020\t2610\n2021\t5134\n2022\t4653\n2023\t3759\n2024\t2673\nThereafter\t3026\nTotal minimum payments\t21855\nLess: interest\t2042\nPresent value of lease liabilities\t19813\n", "q10k_tbl_38": "(amounts in thousands)\tSeptember 30 2020\tDecember 31 2019\nWeighted average remaining lease term (years)\t\t\nOperating leases\t4.6 years\t5.0 years\nWeighted average discount rate\t\t\nOperating leases\t2.69%\t2.90%\n", "q10k_tbl_39": "(amounts in thousands)\tClassification\tSeptember 30 2020\tDecember 31 2019\nASSETS\t\t\t\nDirect financing leases\t\t\t\nLease receivables\tLoans and leases receivable\t105712\t91762\nGuaranteed residual assets\tLoans and leases receivable\t6723\t7435\nUnguaranteed residual assets\tLoans and leases receivable\t5822\t1260\nDeferred initial direct costs\tLoans and leases receivable\t654\t721\nUnearned income\tLoans and leases receivable\t(11709)\t(11300)\nNet investment in direct financing leases\t\t107202\t89878\nOperating leases\t\t\t\nInvestment in operating leases\tOther assets\t119271\t107850\nAccumulated depreciation\tOther assets\t(24973)\t(14251)\nDeferred initial direct costs\tOther assets\t1070\t1052\nNet investment in operating leases\t\t95368\t94651\nTotal lease assets\t\t202570\t184529\n", "q10k_tbl_40": "\tSeptember 30 2020\t\tDecember 31 2019\t\n(dollars in thousands)\tAmount\tRate\tAmount\tRate\nFHLB advances\t850000\t1.24%\t500000\t2.15%\nFederal funds purchased\t680000\t0.14%\t538000\t1.60%\nTotal short-term debt\t1530000\t\t1038000\t\n", "q10k_tbl_41": "\tSeptember 30 2020\tDecember 31 2019\n(dollars in thousands)\t\t\nFHLB advances\t\t\nMaximum outstanding at any month end\t910000\t1190150\nAverage balance during the period\t796286\t793304\nWeighted-average interest rate during the period\t2.17%\t2.66%\nFederal funds purchased\t\t\nMaximum outstanding at any month end\t842000\t600000\nAverage balance during the period\t279299\t271400\nWeighted-average interest rate during the period\t0.20%\t2.28%\n", "q10k_tbl_42": "\tSeptember 30 2020\t\tDecember 31 2019\t\n(dollars in thousands)\tAmount\tRate\tAmount\tRate\nFHLB advances\t0\t-%\t350000\t2.36%\nFRB PPP Liquidity Facility advances\t4811009\t0.35%\t0\t-%\nTotal long-term FHLB and FRB advances\t4811009\t\t350000\t\n", "q10k_tbl_43": "(amounts in thousands)\tSeptember 30 2020\tDecember 31 2019\nTotal maximum borrowing capacity with the FHLB\t2851496\t3445416\nTotal maximum borrowing capacity with the FRB (1)\t214766\t136842\nQualifying loans serving as collateral against FHLB and FRB advances (1)\t4092732\t4496983\n", "q10k_tbl_44": "\t\tSeptember 30 2020\tDecember 31 2019\t\t\t\t\t\n(dollars in thousands)\t\t\t\t\t\t\t\nIssued by\tRanking\tAmount\tAmount\tRate\tIssued Amount\tDate Issued\tMaturity\tPrice\nCustomers Bancorp\tSenior\t24522\t24432\t4.500%\t25000\tSeptember 2019\tSeptember 2024\t100.000%\nCustomers Bancorp\tSenior\t99413\t99198\t3.950%\t100000\tJune 2017\tJune 2022\t99.775%\nTotal other borrowings\t\t123935\t123630\t\t\t\t\t\nCustomers Bancorp\tSubordinated (1)(2)\t72176\t72040\t5.375%\t74750\tDecember 2019\tDecember 2034\t100.000%\nCustomers Bank\tSubordinated (1)(3)\t109148\t109075\t6.125%\t110000\tJune 2014\tJune 2029\t100.000%\nTotal subordinated debt\t\t181324\t181115\t\t\t\t\t\n", "q10k_tbl_45": "\t\t\tMinimum Capital Levels to be Classified as:\t\t\t\t\t\n\tActual\t\tAdequately Capitalized\t\tWell Capitalized\t\tBasel III Compliant\t\n(amounts in thousands)\tAmount\tRatio\tAmount\tRatio\tAmount\tRatio\tAmount\tRatio\nAs of September 30 2020:\t\t\t\t\t\t\t\t\nCommon equity Tier 1 capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t902174\t7.488%\t542199\t4.500%\tN/A\tN/A\t843420\t7.000%\nCustomers Bank\t1217159\t10.120%\t541217\t4.500%\t781757\t6.500%\t841892\t7.000%\nTier 1 capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t1119645\t9.293%\t722932\t6.000%\tN/A\tN/A\t1024153\t8.500%\nCustomers Bank\t1217159\t10.120%\t721622\t6.000%\t962163\t8.000%\t1022298\t8.500%\nTotal capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t1361237\t11.298%\t963909\t8.000%\tN/A\tN/A\t1265130\t10.500%\nCustomers Bank\t1397059\t11.616%\t962163\t8.000%\t1202704\t10.000%\t1262839\t10.500%\nTier 1 capital (to average assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t1119645\t8.534%\t524799\t4.000%\tN/A\tN/A\t524799\t4.000%\nCustomers Bank\t1217159\t9.288%\t524203\t4.000%\t655254\t5.000%\t524203\t4.000%\nAs of December 31 2019:\t\t\t\t\t\t\t\t\nCommon equity Tier 1 capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t821810\t7.984%\t463211\t4.500%\tN/A\tN/A\t720551\t7.000%\nCustomers Bank\t1164652\t11.323%\t462842\t4.500%\t668549\t6.500%\t719976\t7.000%\nTier 1 capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t1039281\t10.096%\t617615\t6.000%\tN/A\tN/A\t874955\t8.500%\nCustomers Bank\t1164652\t11.323%\t617122\t6.000%\t822829\t8.000%\t874256\t8.500%\nTotal capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t1256309\t12.205%\t823487\t8.000%\tN/A\tN/A\t1080827\t10.500%\nCustomers Bank\t1330155\t12.933%\t822829\t8.000%\t1028537\t10.000%\t1079964\t10.500%\nTier 1 capital (to average assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t1039281\t9.258%\t449026\t4.000%\tN/A\tN/A\t449026\t4.000%\nCustomers Bank\t1164652\t10.379%\t448851\t4.000%\t561064\t5.000%\t448851\t4.000%\n", "q10k_tbl_46": "\t\t\tFair Value Measurements at September 30 2020\t\t\n(amounts in thousands)\tCarrying Amount\tEstimated Fair Value\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\nAssets:\t\t\t\t\t\nCash and cash equivalents\t331416\t331416\t331416\t0\t0\nDebt securities available for sale\t1131365\t1131365\t0\t1131365\t0\nEquity securities\t2466\t2466\t2466\t0\t0\nLoans held for sale\t26689\t26689\t0\t6998\t19691\nTotal loans and leases receivable net of allowance for credit losses on loans and leases\t16423029\t17070867\t0\t3913593\t13157274\nFHLB Federal Reserve Bank and other restricted stock\t70387\t70387\t0\t70387\t0\nDerivatives\t60810\t60810\t0\t60355\t455\nLiabilities:\t\t\t\t\t\nDeposits\t10839077\t10843133\t9866651\t976482\t0\nFRB advances\t4811009\t4811009\t0\t4811009\t0\nFederal funds purchased\t680000\t680000\t680000\t0\t0\nFHLB advances\t850000\t854104\t0\t854104\t0\nOther borrowings\t123935\t102594\t0\t102594\t0\nSubordinated debt\t181324\t178958\t0\t178958\t0\nDerivatives\t110649\t110649\t0\t110649\t0\n", "q10k_tbl_47": "\t\t\tFair Value Measurements at December 31 2019\t\t\n(amounts in thousands)\tCarrying Amount\tEstimated Fair Value\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\nAssets:\t\t\t\t\t\nCash and cash equivalents\t212505\t212505\t212505\t0\t0\nDebt securities available for sale\t577198\t577198\t0\t577198\t0\nInterest-only GNMA securities\t16272\t16272\t0\t0\t16272\nEquity securities\t2406\t2406\t2406\t0\t0\nLoans held for sale\t486328\t486328\t0\t2130\t484198\nTotal loans and leases receivable net of allowance for credit losses on loans and leases\t9508367\t9853037\t0\t2245758\t7607279\nFHLB Federal Reserve Bank and other restricted stock\t84214\t84214\t0\t84214\t0\nDerivatives\t23608\t23608\t0\t23529\t79\nLiabilities:\t\t\t\t\t\nDeposits\t8648936\t8652340\t6980402\t1671938\t0\nFederal funds purchased\t538000\t538000\t538000\t0\t0\nFHLB advances\t850000\t852162\t0\t852162\t0\nOther borrowings\t123630\t127603\t0\t127603\t0\nSubordinated debt\t181115\t192217\t0\t192217\t0\nDerivatives\t45939\t45939\t0\t45939\t0\n", "q10k_tbl_48": "\tSeptember 30 2020\t\t\t\n\tFair Value Measurements at the End of the Reporting Period Using\t\t\t\n(amounts in thousands)\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\tTotal\nMeasured at Fair Value on a Recurring Basis:\t\t\t\t\nAssets\t\t\t\t\nAvailable for sale debt securities:\t\t\t\t\nAsset-backed securities\t0\t375381\t0\t375381\nU.S. government agencies securities\t0\t40008\t0\t40008\nAgency-guaranteed residential mortgage-backed securities\t0\t61079\t0\t61079\nAgency guaranteed collateralized mortgage obligations\t0\t153779\t0\t153779\nState and political subdivision debt securities\t0\t18259\t0\t18259\nPrivate label collateralized mortgage obligations\t0\t118987\t0\t118987\nCorporate notes\t0\t363872\t0\t363872\nEquity securities\t2466\t0\t0\t2466\nDerivatives\t0\t60355\t455\t60810\nLoans held for sale - fair value option\t0\t6998\t0\t6998\nLoans receivable mortgage warehouse - fair value option\t0\t3913593\t0\t3913593\nTotal assets - recurring fair value measurements\t2466\t5112311\t455\t5115232\nLiabilities\t\t\t\t\nDerivatives\t0\t110649\t0\t110649\nMeasured at Fair Value on a Nonrecurring Basis:\t\t\t\t\nAssets\t\t\t\t\nLoans held for sale\t0\t0\t18366\t18366\nCollateral-dependent loans\t0\t0\t22539\t22539\nTotal assets - nonrecurring fair value measurements\t0\t0\t40905\t40905\n", "q10k_tbl_49": "\tDecember 31 2019\t\t\t\n\tFair Value Measurements at the End of the Reporting Period Using\t\t\t\n(amounts in thousands)\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\tTotal\nMeasured at Fair Value on a Recurring Basis:\t\t\t\t\nAssets\t\t\t\t\nAvailable for sale debt securities:\t\t\t\t\nAgency-guaranteed residential mortgage-backed securities\t0\t278321\t0\t278321\nCorporate notes\t0\t298877\t0\t298877\nInterest-only GNMA securities\t0\t0\t16272\t16272\nEquity securities\t2406\t0\t0\t2406\nDerivatives\t0\t23529\t79\t23608\nLoans held for sale - fair value option\t0\t2130\t0\t2130\nLoans receivable mortgage warehouse - fair value option\t0\t2245758\t0\t2245758\nTotal assets - recurring fair value measurements\t2406\t2848615\t16351\t2867372\nLiabilities\t\t\t\t\nDerivatives\t0\t45939\t0\t45939\nMeasured at Fair Value on a Nonrecurring Basis:\t\t\t\t\nAssets\t\t\t\t\nImpaired loans net of specific reserves of $852\t0\t0\t14272\t14272\nOther real estate owned\t0\t0\t78\t78\nTotal assets - nonrecurring fair value measurements\t0\t0\t14350\t14350\n", "q10k_tbl_50": "\tResidential Mortgage Loan Commitments\t\n\tThree Months Ended September 30\t\n(amounts in thousands)\t2020\t2019\nBalance at June 30\t52\t145\nIssuances\t455\t150\nSettlements\t(52)\t(145)\nBalance at September 30\t455\t150\n", "q10k_tbl_51": "\tResidential Mortgage Loan Commitments\t\n\tNine Months Ended September 30\t\n(amounts in thousands)\t2020\t2019\nBalance at December 31\t79\t69\nIssuances\t722\t372\nSettlements\t(346)\t(291)\nBalance at September 30\t455\t150\n", "q10k_tbl_52": "\tQuantitative Information about Level 3 Fair Value Measurements\t\t\t\nSeptember 30 2020\tFair Value Estimate\tValuation Technique\tUnobservable Input\tRange (Weighted Average) (4)\n(amounts in thousands)\t\t\t\t\nCollateral-dependent loans - real estate\t21572\tCollateral appraisal (1)\tLiquidation expenses (2)\t8% - 8% (8%)\nCollateral-dependent loans - commercial & industrial\t967\tCollateral appraisal (1) Business asset valuation (3)\tLiquidation expenses (2) Business asset valuation adjustments (4)\t7% - 8% (8%) 60% - 60% (60%)\nResidential mortgage loan commitments\t455\tAdjusted market bid\tPull-through rate\t81% - 81% (81%)\n", "q10k_tbl_53": "\tQuantitative Information about Level 3 Fair Value Measurements\t\t\t\nDecember 31 2019\tFair Value Estimate\tValuation Technique\tUnobservable Input\tRange (Weighted Average) (4)\n(amounts in thousands)\t\t\t\t\nImpaired loans - real estate\t12767\tCollateral appraisal (1) Business asset valuation (3)\tLiquidation expenses (2) Business asset valuation (4)\t8% - 10% (8%) 34% - 45% (37%)\nImpaired loans - commercial & industrial\t1505\tCollateral appraisal (1) Business asset valuation (3)\tLiquidation expenses (2) Business asset valuation adjustments (4)\t8% - 8% (8%) 8% - 50% (22%)\nInterest-only GNMA securities\t16272\tDiscounted cash flow\tConstant prepayment rate\t9% - 14% 12%\nOther real estate owned\t78\tCollateral appraisal (1)\tLiquidation expenses (2)\t8% - 9% (9%)\nResidential mortgage loan commitments\t79\tAdjusted market bid\tPull-through rate\t85% - 85% (85%)\n", "q10k_tbl_54": "\tSeptember 30 2020\t\t\t\n\tDerivative Assets\t\tDerivative Liabilities\t\n(amounts in thousands)\tBalance Sheet Location\tFair Value\tBalance Sheet Location\tFair Value\nDerivatives designated as cash flow hedges:\t\t\t\t\nInterest rate swaps\tOther assets\t0\tOther liabilities\t46785\nTotal\t\t0\t\t46785\nDerivatives not designated as hedging instruments:\t\t\t\t\nInterest rate swaps\tOther assets\t59962\tOther liabilities\t63340\nInterest rate caps\tOther assets\t9\tOther liabilities\t9\nCredit contracts\tOther assets\t384\tOther liabilities\t515\nResidential mortgage loan commitments\tOther assets\t455\tOther liabilities\t0\nTotal\t\t60810\t\t63864\n", "q10k_tbl_55": "\tDecember 31 2019\t\t\t\n\tDerivative Assets\t\tDerivative Liabilities\t\n(amounts in thousands)\tBalance Sheet Location\tFair Value\tBalance Sheet Location\tFair Value\nDerivatives designated as cash flow hedges:\t\t\t\t\nInterest rate swaps\tOther assets\t0\tOther liabilities\t21374\nTotal\t\t0\t\t21374\nDerivatives not designated as hedging instruments:\t\t\t\t\nInterest rate swaps\tOther assets\t23301\tOther liabilities\t24797\nInterest rate caps\tOther assets\t9\tOther liabilities\t9\nCredit contracts\tOther assets\t219\tOther liabilities\t(241)\nResidential mortgage loan commitments\tOther assets\t79\tOther liabilities\t0\nTotal\t\t23608\t\t24565\n", "q10k_tbl_56": "\t\tAmount of Income (Loss) Recognized in Earnings\t\t\t\n\t\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(amounts in thousands)\tIncome Statement Location\t2020\t2019\t2020\t2019\nDerivatives not designated as hedging instruments:\t\t\t\t\t\nInterest rate swaps\tOther non-interest income\t387\t(35)\t(6191)\t63\nInterest rate caps\tOther non-interest income\t0\t0\t0\t0\nCredit contracts\tOther non-interest income\t162\t85\t1436\t228\nResidential mortgage loan commitments\tMortgage banking income\t403\t5\t376\t82\nTotal\t\t952\t55\t(4379)\t373\n", "q10k_tbl_57": "\tAmount of Gain (Loss) Recognized in OCI on Derivatives (1)\t\tLocation of Gain (Loss) Reclassified from Accumulated OCI into Income\tAmount of Gain (Loss) Reclassified from Accumulated OCI into Income\t\n\tThree Months Ended September 30\t\t\tThree Months Ended September 30\t\n(amounts in thousands)\t2020\t2019\t\t2020\t2019\nDerivatives in cash flow hedging relationships:\t\t\t\t\t\nInterest rate swaps\t429\t(3821)\tInterest expense\t(4400)\t(764)\n", "q10k_tbl_58": "\tAmount of Gain (Loss) Recognized in OCI on Derivatives (1)\t\tLocation of Gain (Loss) Reclassified from Accumulated OCI into Income\tAmount of Gain (Loss) Reclassified from Accumulated OCI into Income\t\n\tNine Months Ended September 30\t\t\tNine Months Ended September 30\t\n(amounts in thousands)\t2020\t2019\t\t2020\t2019\nDerivatives in cash flow hedging relationships:\t\t\t\t\t\nInterest rate swaps\t(24602)\t(19391)\tInterest expense\t(8596)\t(355)\n", "q10k_tbl_59": "\tGross Amounts Recognized on the Consolidated Balance Sheets\t\t\tGross Amounts Not Offset in the Consolidated Balance Sheet\t\t\n(amounts in thousands)\tFinancial Instruments\tCash Collateral Received/(Posted)\tNet Amount\nDecember 31 2019\t\t\t\t\t\t\nInterest rate derivative assets with institutional counterparties\t432\t\t\t0\t0\t432\nInterest rate derivative liabilities with institutional counterparties\t45727\t\t\t0\t(45727)\t0\n", "q10k_tbl_60": "\tThree Months Ended September 30 2020\t\t\tThree Months Ended September 30 2019\t\t\n(amounts in thousands)\tCustomers Bank Business Banking\tBankMobile\tConsolidated\tCustomers Bank Business Banking\tBankMobile\tConsolidated\nInterest income (1)\t126648\t13002\t139650\t113995\t12723\t126718\nInterest expense\t31718\t493\t32211\t50734\t249\t50983\nNet interest income\t94930\t12509\t107439\t63261\t12474\t75735\nProvision for credit losses on loans and leases\t8699\t4256\t12955\t2475\t1951\t4426\nNon-interest income\t21603\t12190\t33793\t11757\t11612\t23369\nNon-interest expense\t48926\t16635\t65561\t38347\t21245\t59592\nIncome (loss) before income tax expense (benefit)\t58908\t3808\t62716\t34196\t890\t35086\nIncome tax expense (benefit)\t11374\t827\t12201\t7814\t206\t8020\nNet income (loss)\t47534\t2981\t50515\t26382\t684\t27066\nPreferred stock dividends\t3430\t0\t3430\t3615\t0\t3615\nNet income (loss) available to common shareholders\t44104\t2981\t47085\t22767\t684\t23451\n", "q10k_tbl_61": "\tNine Months Ended September 30 2020\t\t\tNine Months Ended September 30 2019\t\t\n(amounts in thousands)\tCustomers Bank Business Banking\tBankMobile\tConsolidated\tCustomers Bank Business Banking\tBankMobile\tConsolidated\nInterest income (1)\t351819\t38393\t390212\t309882\t29863\t339745\nInterest expense\t108251\t1219\t109470\t139402\t625\t140027\nNet interest income\t243568\t37174\t280742\t170480\t29238\t199718\nProvision for credit losses on loans and leases\t55620\t10068\t65688\t3245\t11294\t14539\nNon-interest income\t44422\t33537\t77959\t20304\t34821\t55125\nNon-interest expense\t137055\t58470\t195525\t111840\t61320\t173160\nIncome (loss) before income tax expense (benefit)\t95315\t2173\t97488\t75699\t(8555)\t67144\nIncome tax expense (benefit)\t20708\t448\t21156\t17324\t(1981)\t15343\nNet income (loss)\t74607\t1725\t76332\t58375\t(6574)\t51801\nPreferred stock dividends\t10626\t0\t10626\t10844\t0\t10844\nNet income (loss) available to common shareholders\t63981\t1725\t65706\t47531\t(6574)\t40957\nAs of September 30 2020 and 2019\t\t\t\t\t\t\nGoodwill and other intangibles\t3629\t10808\t14437\t3629\t11892\t15521\nTotal assets (2)\t18203784\t574943\t18778727\t11131914\t591876\t11723790\nTotal deposits\t9895328\t943749\t10839077\t8260080\t665605\t8925685\nTotal non-deposit liabilities (2)\t6853184\t34975\t6888159\t1747846\t31109\t1778955\n", "q10k_tbl_62": "\tThree Months Ended September 30 2020\t\t\tThree Months Ended September 30 2019\t\t\n(amounts in thousands)\tCustomers Bank Business Banking\tBankMobile\tConsolidated\tCustomers Bank Business Banking\tBankMobile\tConsolidated\nRevenue from contracts with customers:\t\t\t\t\t\t\nRevenue recognized at point in time:\t\t\t\t\t\t\nInterchange and card revenue (1)\t(3148)\t7229\t4081\t181\t6688\t6869\nDeposit fees\t651\t2788\t3439\t457\t3185\t3642\nUniversity fees - card and disbursement fees\t0\t310\t310\t0\t262\t262\nTotal revenue recognized at point in time\t(2497)\t10327\t7830\t638\t10135\t10773\nRevenue recognized over time:\t\t\t\t\t\t\nUniversity fees - subscription revenue\t0\t1039\t1039\t0\t1006\t1006\nTotal revenue recognized over time\t0\t1039\t1039\t0\t1006\t1006\nTotal revenue from contracts with customers\t(2497)\t11366\t8869\t638\t11141\t11779\n", "q10k_tbl_63": "\tNine Months Ended September 30 2020\t\t\tNine Months Ended September 30 2019\t\t\n(amounts in thousands)\tCustomers Bank Business Banking\tBankMobile\tConsolidated\tCustomers Bank Business Banking\tBankMobile\tConsolidated\nRevenue from contracts with customers:\t\t\t\t\t\t\nRevenue recognized at point in time:\t\t\t\t\t\t\nInterchange and card revenue (1)\t(2685)\t20053\t17368\t580\t21855\t22435\nDeposit fees\t1704\t8517\t10221\t1190\t8009\t9199\nUniversity fees - card and disbursement fees\t0\t990\t990\t0\t783\t783\nTotal revenue recognized at point in time\t(981)\t29560\t28579\t1770\t30647\t32417\nRevenue recognized over time:\t\t\t\t\t\t\nUniversity fees - subscription revenue\t0\t3038\t3038\t0\t2953\t2953\nTotal revenue recognized over time\t0\t3038\t3038\t0\t2953\t2953\nTotal revenue from contracts with customers\t(981)\t32598\t31617\t1770\t33600\t35370\n", "q10k_tbl_64": "\tThree Months Ended September 30\t\tQTD\t\tNine Months Ended September 30\t\tYTD\t\n(dollars in thousands)\t2020\t2019\tChange\t% Change\t2020\t2019\tChange\t% Change\nNet interest income\t107439\t75735\t31704\t41.9%\t280742\t199718\t81024\t40.6%\nProvision for credit losses\t12955\t4426\t8529\t192.7%\t65688\t14539\t51149\t351.8%\nTotal non-interest income\t33793\t23369\t10424\t44.6%\t77959\t55125\t22834\t41.4%\nTotal non-interest expense\t65561\t59592\t5969\t10.0%\t195525\t173160\t22365\t12.9%\nIncome before income tax expense\t62716\t35086\t27630\t78.7%\t97488\t67144\t30344\t45.2%\nIncome tax expense\t12201\t8020\t4181\t52.1%\t21156\t15343\t5813\t37.9%\nNet income\t50515\t27066\t23449\t86.6%\t76332\t51801\t24531\t47.4%\nPreferred stock dividends\t3430\t3615\t(185)\t(5.1)%\t10626\t10844\t(218)\t(2.0)%\nNet income available to common shareholders\t47085\t23451\t23634\t100.8%\t65706\t40957\t24749\t60.4%\n", "q10k_tbl_65": "\tThree Months Ended September 30\t\t\t\t\t\tThree Months Ended September 30\t\t\n\t2020\t\t\t2019\t\t\t2020 vs. 2019\t\t\n(dollars in thousands)\tAverage balance\tInterest income or expense\tAverage yield or cost\tAverage balance\tInterest income or expense\tAverage yield or cost\tDue to rate\tDue to volume\tTotal\nAssets\t\t\t\t\t\t\t\t\t\nInterest-earning deposits\t686928\t199\t0.12%\t100343\t826\t3.26%\t(1449)\t822\t(627)\nInvestment securities (1)\t950723\t6297\t2.65%\t652142\t5867\t3.60%\t(1818)\t2248\t430\nLoans and leases:\t\t\t\t\t\t\t\t\t\nCommercial loans to mortgage companies\t2847169\t20750\t2.90%\t2103612\t24260\t4.58%\t(10506)\t6996\t(3510)\nMulti-family loans\t1989074\t18615\t3.72%\t2929650\t28871\t3.91%\t(1348)\t(8908)\t(10256)\nCommercial and industrial loans and leases (2)\t2599806\t24958\t3.82%\t2159067\t28522\t5.24%\t(8655)\t5091\t(3564)\nPPP loans\t4909197\t24337\t1.97%\t0\t0\t-%\t0\t24337\t24337\nNon-owner occupied commercial real estate loans\t1388306\t12901\t3.70%\t1294246\t14902\t4.57%\t(3023)\t1022\t(2001)\nResidential mortgages\t414781\t4139\t3.97%\t729603\t7565\t4.11%\t(251)\t(3175)\t(3426)\nInstallment loans\t1255505\t26407\t8.37%\t600256\t14324\t9.47%\t(1838)\t13921\t12083\nTotal loans and leases (3)\t15403838\t132107\t3.41%\t9816434\t118444\t4.79%\t(40625)\t54288\t13663\nOther interest-earning assets\t79656\t1047\t5.23%\t98279\t1581\t6.39%\t(262)\t(272)\t(534)\nTotal interest-earning assets\t17121145\t139650\t3.25%\t10667198\t126718\t4.72%\t(47648)\t60580\t12932\nNon-interest-earning assets\t744429\t\t\t591946\t\t\t\t\t\nTotal assets\t17865574\t\t\t11259144\t\t\t\t\t\nLiabilities\t\t\t\t\t\t\t\t\t\nInterest checking accounts\t2370709\t4640\t0.78%\t1014590\t4687\t1.83%\t(3761)\t3714\t(47)\nMoney market deposit accounts\t3786032\t6156\t0.65%\t3100975\t17344\t2.22%\t(14351)\t3163\t(11188)\nOther savings accounts\t1125273\t2997\t1.06%\t561790\t3108\t2.19%\t(2145)\t2034\t(111)\nCertificates of deposit\t1344134\t4554\t1.35%\t2227817\t13128\t2.34%\t(4425)\t(4149)\t(8574)\nTotal interest-bearing deposits (4)\t8626148\t18347\t0.85%\t6905172\t38267\t2.20%\t(27703)\t7783\t(19920)\nFRB PPP liquidity facility\t4479036\t3951\t0.35%\t0\t0\t-%\t0\t3951\t3951\nBorrowings\t1236127\t9913\t3.19%\t1770459\t12716\t2.86%\t1358\t(4161)\t(2803)\nTotal interest-bearing liabilities\t14341311\t32211\t0.89%\t8675631\t50983\t2.33%\t(41395)\t22623\t(18772)\nNon-interest-bearing deposits (4)\t2194689\t\t\t1431810\t\t\t\t\t\nTotal deposits and borrowings\t16536000\t\t0.78%\t10107441\t\t2.00%\t\t\t\nOther non-interest-bearing liabilities\t299526\t\t\t146347\t\t\t\t\t\nTotal liabilities\t16835526\t\t\t10253788\t\t\t\t\t\nShareholders' equity\t1030048\t\t\t1005356\t\t\t\t\t\nTotal liabilities and shareholders' equity\t17865574\t\t\t11259144\t\t\t\t\t\nNet interest income\t\t107439\t\t\t75735\t\t(6253)\t37957\t31704\nTax-equivalent adjustment (5)\t\t225\t\t\t184\t\t\t\t\nNet interest earnings\t\t107664\t\t\t75919\t\t\t\t\nInterest spread\t\t\t2.47%\t\t\t2.71%\t\t\t\nNet interest margin\t\t\t2.50%\t\t\t2.82%\t\t\t\nNet interest margin tax equivalent (5)\t\t\t2.50%\t\t\t2.83%\t\t\t\nNet interest margin tax equivalent excluding PPP loans (6)\t\t\t2.86%\t\t\t2.83%\t\t\t\n", "q10k_tbl_66": "\tNine Months Ended September 30\t\t\t\t\t\tNine Months Ended September 30\t\t\n\t2020\t\t\t2019\t\t\t2020 vs. 2019\t\t\n(dollars in thousands)\tAverage Balance\tInterest Income or Expense\tAverage Yield or Cost (%)\tAverage Balance\tInterest Income or Expense\tAverage Yield or Cost\tDue to rate\tDue to volume\tTotal\nAssets\t\t\t\t\t\t\t\t\t\nInterest-earning deposits\t614863\t3173\t0.69%\t88146\t1945\t2.95%\t(2504)\t3732\t1228\nInvestment securities (1)\t741566\t17429\t3.13%\t676859\t18589\t3.66%\t(2835)\t1675\t(1160)\nLoans and leases:\t\t\t\t\t\t\t\t\t\nCommercial loans to mortgage companies\t2383331\t56004\t3.14%\t1678461\t59691\t4.75%\t(24036)\t20349\t(3687)\nMulti-family loans\t2070564\t60327\t3.89%\t3092473\t88877\t3.84%\t1145\t(29695)\t(28550)\nCommercial and industrial loans and leases (2)\t2507231\t78471\t4.18%\t2041379\t79265\t5.19%\t(17027)\t16233\t(794)\nPPP loans\t2563299\t36043\t1.88%\t0\t0\t-%\t0\t36043\t36043\nNon-owner occupied commercial real estate loans\t1372090\t40517\t3.94%\t1215469\t41127\t4.52%\t(5593)\t4983\t(610)\nResidential mortgages\t430058\t12310\t3.82%\t716294\t22423\t4.19%\t(1830)\t(8283)\t(10113)\nInstallment loans\t1267806\t82962\t8.74%\t337126\t23743\t9.42%\t(1836)\t61055\t59219\nTotal loans and leases (3)\t12594379\t366634\t3.89%\t9081202\t315126\t4.64%\t(56747)\t108255\t51508\nOther interest-earning assets\t86454\t2976\t4.60%\t91135\t4085\t5.99%\t(908)\t(201)\t(1109)\nTotal interest-earning assets\t14037262\t390212\t3.71%\t9937342\t339745\t4.57%\t(72068)\t122535\t50467\nNon-interest-earning assets\t679128\t\t\t531656\t\t\t\t\t\nTotal assets\t14716390\t\t\t10468998\t\t\t\t\t\nLiabilities\t\t\t\t\t\t\t\t\t\nInterest checking accounts\t2050184\t13861\t0.90%\t889336\t12580\t1.89%\t(9040)\t10321\t1281\nMoney market deposit accounts\t3486445\t28818\t1.10%\t3138112\t52523\t2.24%\t(29051)\t5346\t(23705)\nOther savings accounts\t1147994\t14480\t1.68%\t476331\t7616\t2.14%\t(1938)\t8802\t6864\nCertificates of deposit\t1533628\t18780\t1.64%\t1920063\t32753\t2.28%\t(8138)\t(5835)\t(13973)\nTotal interest-bearing deposits (4)\t8218251\t75939\t1.23%\t6423842\t105472\t2.20%\t(54263)\t24730\t(29533)\nFRB PPP liquidity facility\t1816849\t4774\t0.35%\t0\t0\t-%\t0\t4774\t4774\nBorrowings\t1581498\t28757\t2.43%\t1556405\t34555\t2.97%\t(7448)\t1650\t(5798)\nTotal interest-bearing liabilities\t11616598\t109470\t1.26%\t7980247\t140027\t2.35%\t(79956)\t49399\t(30557)\nNon-interest-bearing deposits (4)\t1887463\t\t\t1379633\t\t\t\t\t\nTotal deposits and borrowings\t13504061\t\t1.08%\t9359880\t\t2.00%\t\t\t\nOther non-interest-bearing liabilities\t197428\t\t\t122309\t\t\t\t\t\nTotal liabilities\t13701489\t\t\t9482189\t\t\t\t\t\nShareholders' equity\t1014901\t\t\t986809\t\t\t\t\t\nTotal liabilities and shareholders' equity\t14716390\t\t\t10468998\t\t\t\t\t\nNet interest income\t\t280742\t\t\t199718\t\t7888\t73136\t81024\nTax-equivalent adjustment (5)\t\t655\t\t\t548\t\t\t\t\nNet interest earnings\t\t281397\t\t\t200266\t\t\t\t\nInterest spread\t\t\t2.63%\t\t\t2.57%\t\t\t\nNet interest margin\t\t\t2.67%\t\t\t2.69%\t\t\t\nNet interest margin tax equivalent (5)\t\t\t2.68%\t\t\t2.69%\t\t\t\nNet interest margin tax equivalent excluding PPP loans (6)\t\t\t2.93%\t\t\t2.69%\t\t\t\n", "q10k_tbl_67": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(dollars in thousands)\t2020\t2019\t2020\t2019\nNet interest income (GAAP)\t107439\t75735\t280742\t199718\nTax-equivalent adjustment\t225\t184\t655\t548\nNet interest income tax equivalent (Non-GAAP)\t107664\t75919\t281397\t200266\nLoans receivable PPP net interest income\t(20018)\t0\t(29326)\t0\nNet interest income tax equivalent excluding PPP loans (Non-GAAP)\t87646\t75919\t252071\t200266\nAverage total interest-earning assets (GAAP)\t17121145\t10667198\t14037262\t9937342\nAverage PPP loans\t(4909197)\t0\t(2563299)\t0\nAdjusted average total interest-earning assets (Non-GAAP)\t12211948\t10667198\t11473963\t9937342\nNet interest margin (GAAP)\t2.50%\t2.82%\t2.67%\t2.69%\nNet interest margin tax equivalent (Non-GAAP)\t2.50%\t2.83%\t2.68%\t2.69%\nNet interest margin tax equivalent excluding PPP loans (Non-GAAP)\t2.86%\t2.83%\t2.93%\t2.69%\n", "q10k_tbl_68": "\tThree Months Ended September 30\t\tQTD\t\tNine Months Ended September 30\t\tYTD\t\n(dollars in thousands)\t2020\t2019\tChange\t% Change\t2020\t2019\tChange\t% Change\nInterchange and card revenue\t4081\t6869\t(2788)\t(40.6)%\t17368\t22435\t(5067)\t(22.6)%\nDeposit fees\t3439\t3642\t(203)\t(5.6)%\t10221\t9199\t1022\t11.1%\nCommercial lease income\t4510\t3080\t1430\t46.4%\t13286\t8212\t5074\t61.8%\nBank-owned life insurance\t1746\t1824\t(78)\t(4.3)%\t5265\t5477\t(212)\t(3.9)%\nMortgage warehouse transactional fees\t3320\t2150\t1170\t54.4%\t7854\t5145\t2709\t52.7%\nGain (loss) on sale of SBA and other loans\t286\t0\t286\tNM\t320\t0\t320\tNM\nMortgage banking income\t1013\t283\t730\t258.0%\t1347\t701\t646\t92.2%\nLoss upon acquisition of interest-only GNMA securities\t0\t0\t0\tNM\t0\t(7476)\t7476\t(100.0)%\nGain (loss) on sale of investment securities\t11707\t1001\t10706\t1069.5%\t20035\t1001\t19034\t1901.5%\nUnrealized gain (loss) on investment securities\t238\t1333\t(1095)\t(82.1)%\t60\t988\t(928)\t(93.9)%\nOther\t3453\t3187\t266\t8.3%\t2203\t9443\t(7240)\t(76.7)%\nTotal non-interest income\t33793\t23369\t10424\t44.6%\t77959\t55125\t22834\t41.4%\n", "q10k_tbl_69": "\tThree Months Ended September 30\t\tQTD\t\tNine Months Ended September 30\t\tYTD\t\n(dollars in thousands)\t2020\t2019\tChange\t% Change\t2020\t2019\tChange\t% Change\nSalaries and employee benefits\t32676\t27193\t5483\t20.2%\t92283\t79936\t12347\t15.4%\nTechnology communication and bank operations\t13215\t8755\t4460\t50.9%\t39576\t33110\t6466\t19.5%\nProfessional services\t7253\t8348\t(1095)\t(13.1)%\t19476\t18639\t837\t4.5%\nOccupancy\t3632\t3661\t(29)\t(0.8)%\t9689\t9628\t61\t0.6%\nCommercial lease depreciation\t3663\t2459\t1204\t49.0%\t10733\t6633\t4100\t61.8%\nFDIC assessments non-income taxes and regulatory fees\t3784\t(777)\t4561\tNM\t9019\t3368\t5651\t167.8%\nProvision for operating losses\t1186\t3998\t(2812)\t(70.3)%\t3166\t8223\t(5057)\t(61.5)%\nAdvertising and promotion\t0\t976\t(976)\t(100.0)%\t2221\t3145\t(924)\t(29.4)%\nMerger and acquisition related expenses\t1035\t0\t1035\tNM\t1110\t0\t1110\tNM\nLoan workout\t846\t495\t351\t70.9%\t3020\t1458\t1562\t107.1%\nOther real estate owned\t7\t108\t(101)\t(93.5)%\t26\t151\t(125)\t(82.8)%\nOther\t(1736)\t4376\t(6112)\t(139.7)%\t5206\t8869\t(3663)\t(41.3)%\nTotal non-interest expense\t65561\t59592\t5969\t10.0%\t195525\t173160\t22365\t12.9%\n", "q10k_tbl_70": "\tThree Months Ended September 30\t\tQTD\t\tNine Months Ended September 30\t\tYTD\t\n(dollars in thousands)\t2020\t2019\tChange\t% Change\t2020\t2019\tChange\t% Change\nIncome before income tax expense\t62716\t35086\t27630\t78.7%\t97488\t67144\t30344\t45.2%\nIncome tax expense\t12201\t8020\t4181\t52.1%\t21156\t15343\t5813\t37.9%\nEffective tax rate\t19.45%\t22.86%\t\t\t21.70%\t22.85%\t\t\n", "q10k_tbl_71": "(dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\tChange\t% Change\nCash and cash equivalents\t331416\t212505\t118911\t56.0%\nInvestment securities at fair value\t1133831\t595876\t537955\t90.3%\nLoans held for sale\t26689\t486328\t(459639)\t(94.5)%\nLoans receivable mortgage warehouse at fair value\t3913593\t2245758\t1667835\t74.3%\nLoans receivable PPP\t4964105\t0\t4964105\tNM\nLoans and leases receivable\t7700892\t7318988\t381904\t5.2%\nAllowance for credit losses on loan and lease losses\t(155561)\t(56379)\t(99182)\t175.9%\nOther assets\t423569\t298052\t125517\t42.1%\nTotal assets\t18778727\t11520717\t7258010\t63.0%\nTotal deposits\t10839077\t8648936\t2190141\t25.3%\nFederal funds purchased\t680000\t538000\t142000\t26.4%\nFHLB advances\t850000\t850000\t0\t-%\nOther borrowings\t123935\t123630\t305\t0.2%\nSubordinated debt\t181324\t181115\t209\t0.1%\nFRB PPP liquidity facility\t4811009\t0\t4811009\tNM\nAccrued interest payable and other liabilities\t241891\t126241\t115650\t91.6%\nTotal liabilities\t17727236\t10467922\t7259314\t69.3%\nTotal shareholders' equity\t1051491\t1052795\t(1304)\t(0.1)%\nTotal liabilities and shareholders' equity\t18778727\t11520717\t7258010\t63.0%\n", "q10k_tbl_72": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(amounts in thousands)\t2020\t2019\t2020\t2019\nPurchases (1)\t\t\t\t\nResidential real estate\t0\t0\t495\t105858\nInstallment (2)\t15700\t83898\t225468\t534150\nTotal\t15700\t83898\t225963\t640008\nSales (3)\t\t\t\t\nCommercial and industrial (4)\t3968\t0\t3968\t0\nCommercial real estate non-owner occupied\t17600\t0\t17600\t0\nInstallment\t0\t0\t1822\t0\nTotal\t21568\t0\t23390\t0\n", "q10k_tbl_73": "(amounts in thousands)\tSeptember 30 2020\tDecember 31 2019\nCommercial loans:\t\t\nMulti-family loans at lower of cost or fair value\t0\t482873\nCommercial real estate non-owner occupied loans at lower of cost or fair value\t18366\t0\nTotal commercial loans held for sale\t18366\t482873\nConsumer loans:\t\t\nHome equity conversion mortgages at lower of cost or fair value\t1325\t1325\nResidential mortgage loans at fair value\t6998\t2130\nTotal consumer loans held for sale\t8323\t3455\nLoans held for sale\t26689\t486328\n", "q10k_tbl_74": "(amounts in thousands)\tSeptember 30 2020\tDecember 31 2019\nLoans and leases receivable mortgage warehouse at fair value\t3913593\t2245758\nLoans receivable PPP\t4964105\t0\nLoans receivable:\t\t\nCommercial:\t\t\nMulti-family\t1950300\t1907331\nCommercial and industrial (1)\t2220715\t1891152\nCommercial real estate owner occupied\t557595\t551948\nCommercial real estate non-owner occupied\t1215516\t1222772\nConstruction\t122963\t117617\nTotal commercial loans and leases receivable\t6067089\t5690820\nConsumer:\t\t\nResidential real estate\t335452\t382634\nManufactured housing\t64638\t71359\nInstallment\t1233713\t1174175\nTotal consumer loans receivable\t1633803\t1628168\nLoans and leases receivable (2)\t7700892\t7318988\nAllowance for credit losses\t(155561)\t(56379)\nTotal loans and leases receivable net of allowance for credit losses\t16423029\t9508367\n", "q10k_tbl_75": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(amounts in thousands)\t2020\t2019\t2020\t2019\nBalance at beginning of the period\t159905\t48388\t56379\t39972\nCumulative effect of change in accounting principle\t0\t0\t79829\t0\nLoan and lease charge-offs (1)\t\t\t\t\nMulti-family\t0\t0\t0\t541\nCommercial and industrial\t2527\t349\t2645\t532\nCommercial real estate owner occupied\t44\t45\t44\t119\nCommercial real estate non-owner occupied\t10181\t0\t25779\t0\nResidential real estate\t0\t0\t0\t109\nInstallment\t9194\t1806\t23744\t3493\nTotal charge-offs\t21946\t2200\t52212\t4794\nLoan and lease recoveries (1)\t\t\t\t\nMulti-family\t0\t0\t0\t7\nCommercial and industrial\t2582\t369\t2661\t826\nCommercial real estate owner occupied\t0\t10\t5\t235\nCommercial real estate non-owner occupied\t1258\t0\t1258\t0\nConstruction\t6\t8\t122\t128\nResidential real estate\t17\t5\t72\t20\nInstallment\t784\t47\t1759\t120\nTotal recoveries\t4647\t439\t5877\t1336\nTotal net charge-offs\t17299\t1761\t46335\t3458\nProvision for loan and lease losses\t12955\t4426\t65688\t14539\nBalance at the end of the period\t155561\t51053\t155561\t51053\n", "q10k_tbl_76": "(dollars in thousands)\tTotal Loans and Leases\tCurrent\t30-89 Days Past Due\t90 Days or More Past Due and Accruing\tNon-accrual/NPL (a)\tOREO (b)\tNPA (a)+(b)\tNPL to Loan and Lease Type (%)\tNPA to Loans and Leases + OREO (%)\nLoan and Lease Type\t\t\t\t\t\t\t\t\t\nMulti-family\t1950300\t1926658\t11932\t0\t11710\t0\t11710\t0.60%\t0.60%\nCommercial & industrial (1)\t2220715\t2210493\t589\t0\t9633\t0\t9633\t0.43%\t0.43%\nCommercial real estate owner occupied\t557595\t553996\t0\t0\t3599\t0\t3599\t0.65%\t0.65%\nCommercial real estate non-owner occupied\t1215516\t1213108\t0\t0\t2408\t0\t2408\t0.20%\t0.20%\nConstruction\t122963\t122963\t0\t0\t0\t0\t0\t-%\t-%\nTotal commercial loans and leases receivable\t6067089\t6027218\t12521\t0\t27350\t0\t27350\t0.45%\t0.45%\nResidential\t335452\t321472\t3346\t0\t10634\t35\t10669\t3.17%\t3.18%\nManufactured housing\t64638\t58784\t1391\t1685\t2778\t96\t2874\t4.30%\t4.44%\nInstallment\t1233713\t1220525\t10070\t0\t3118\t0\t3118\t0.25%\t0.25%\nTotal consumer loans receivable\t1633803\t1600781\t14807\t1685\t16530\t131\t16661\t1.01%\t1.02%\nLoans and leases receivable (1)\t7700892\t7627999\t27328\t1685\t43880\t131\t44011\t0.57%\t0.57%\nLoans receivable PPP\t4964105\t4964105\t0\t0\t0\t0\t0\t-%\t-%\nLoans receivable mortgage warehouse at fair value\t3913593\t3913593\t0\t0\t0\t0\t0\t\t\nTotal loans held for sale\t26689\t6998\t0\t0\t19691\t0\t19691\t73.78%\t73.78%\nTotal portfolio\t16605279\t16512695\t27328\t1685\t63571\t131\t63702\t0.38%\t0.38%\n", "q10k_tbl_77": "(dollars in thousands)\tTotal Loans and Leases\tNon-accrual / NPL\tACL\tReserves to Loans and Leases (%)\tReserves to NPLs (%)\nLoan and Lease Type\t\t\t\nMulti-family\t1950300\t11710\t15026\t0.77%\t128.32%\nCommercial & industrial\t2220715\t9633\t12926\t0.58%\t134.18%\nCommercial real estate owner occupied\t557595\t3599\t9552\t1.71%\t265.41%\nCommercial real estate non-owner occupied\t1215516\t2408\t20200\t1.66%\t838.87%\nConstruction\t122963\t0\t6423\t5.22%\t-%\nTotal commercial loans and leases receivable\t6067089\t27350\t64127\t1.06%\t234.47%\nResidential\t335452\t10634\t4649\t1.39%\t43.72%\nManufactured housing\t64638\t2778\t5625\t8.70%\t202.48%\nInstallment\t1233713\t3118\t81160\t6.58%\t2602.95%\nTotal consumer loans receivable\t1633803\t16530\t91434\t5.60%\t553.14%\nLoans and leases receivable (1)\t7700892\t43880\t155561\t2.02%\t354.51%\nLoans receivable PPP\t4964105\t0\t0\t-%\t-%\nLoans receivable mortgage warehouse at fair value\t3913593\t0\t0\t\t\nTotal loans held for sale\t26689\t19691\t0\t-%\t-%\nTotal portfolio\t16605279\t63571\t155561\t0.94%\t244.70%\n", "q10k_tbl_78": "(dollars in thousands)\tTotal Loans and Leases\tCurrent\t30-89 Days Past Due\t90 Days or More Past Due and Accruing\tNon-accrual/NPL (a)\tOREO (b)\tNPA (a)+(b)\tNPL to Loan and Lease Type (%)\tNPA to Loans and Leases + OREO (%)\nLoans and leases receivable (GAAP)\t12664997\t12592104\t27328\t1685\t43880\t131\t44011\t0.35%\t0.35%\nLess: Loans receivable PPP\t4964105\t4964105\t0\t0\t0\t0\t0\t-%\t-%\nLoans receivable excluding loans receivable PPP (Non-GAAP)\t7700892\t7627999\t27328\t1685\t43880\t131\t44011\t0.57%\t0.57%\n", "q10k_tbl_79": "(dollars in thousands)\tTotal Loans and Leases\tNon-accrual / NPL\tACL\tReserves to Loans and Leases (%)\tReserves to NPLs (%)\nLoans and leases receivable (GAAP)\t12664997\t43880\t155561\t1.23%\t354.51%\nLess: Loans receivable PPP\t4964105\t0\t0\t-%\t-%\nLoans receivable excluding loans receivable PPP (Non-GAAP)\t7700892\t43880\t155561\t2.02%\t354.51%\n", "q10k_tbl_80": "(dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\tChange\t% Change\nDemand non-interest bearing\t2327017\t1343391\t983626\t73.2%\nDemand interest bearing\t2308627\t1235292\t1073335\t86.9%\nSavings including MMDA\t5231007\t4401719\t829288\t18.8%\nNon-time deposits\t9866651\t6980402\t2886249\t41.3%\nTime $100000 and over\t466860\t402161\t64699\t16.1%\nTime other\t505566\t1266373\t(760807)\t(60.1)%\nTime deposits\t972426\t1668534\t(696108)\t(41.7)%\nTotal deposits\t10839077\t8648936\t2190141\t25.3%\n", "q10k_tbl_81": "\tSeptember 30 2020\t\tDecember 31 2019\t\n(dollars in thousands)\tAmount\tRate\tAmount\tRate\nFHLB advances\t850000\t1.24%\t500000\t2.15%\nFederal funds purchased\t680000\t0.14%\t538000\t1.60%\nTotal short-term debt\t1530000\t\t1038000\t\n", "q10k_tbl_82": "\tSeptember 30 2020\t\tDecember 31 2019\t\n(dollars in thousands)\tAmount\tRate\tAmount\tRate\nFHLB advances\t0\t-%\t350000\t2.36%\nFRB PPP Liquidity Facility advances\t4811009\t0.35%\t0\t-%\nTotal long-term FHLB and FRB advances\t4811009\t\t350000\t\n", "q10k_tbl_83": "(dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\nTotal maximum borrowing capacity with the FHLB\t2851496\t3445416\nTotal maximum borrowing capacity with the FRB (1)\t214766\t136842\nQualifying loans serving as collateral against FHLB and FRB advances (1)\t4092732\t4496983\n", "q10k_tbl_84": "\t\tSeptember 30 2020\tDecember 31 2019\t\t\t\t\t\n(dollars in thousands)\t\t\t\t\t\t\t\nIssued by\tRanking\tAmount\tAmount\tRate\tIssued Amount\tDate Issued\tMaturity\tPrice\nCustomers Bancorp\tSenior\t24522\t24432\t4.500%\t25000\tSeptember 2019\tSeptember 2024\t100.000%\nCustomers Bancorp\tSenior\t99413\t99198\t3.950%\t100000\tJune 2017\tJune 2022\t99.775%\nTotal other borrowings\t\t123935\t123630\t\t\t\t\t\nCustomers Bancorp\tSubordinated (1)(2)\t72176\t72040\t5.375%\t74750\tDecember 2019\tDecember 2034\t100.000%\nCustomers Bank\tSubordinated (1)(3)\t109148\t109075\t6.125%\t110000\tJune 2014\tJune 2029\t100.000%\nTotal subordinated debt\t\t181324\t181115\t\t\t\t\t\n", "q10k_tbl_85": "(dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\tChange\t% Change\nPreferred stock\t217471\t217471\t0\t-%\nCommon stock\t32836\t32617\t219\t0.7%\nAdditional paid in capital\t452965\t444218\t8747\t2.0%\nRetained earnings\t385750\t381519\t4231\t1.1%\nAccumulated other comprehensive loss net\t(15751)\t(1250)\t(14501)\t1160.1%\nTreasury stock\t(21780)\t(21780)\t0\t-%\nTotal shareholders' equity\t1051491\t1052795\t(1304)\t(0.1)%\n", "q10k_tbl_86": "\tNine Months Ended September 30\t\t\t\n(amounts in thousands)\t2020\t2019\tChange\t% Change\nNet cash provided by (used in) operating activities\t73468\t34683\t38785\t111.8%\nNet cash provided by (used in) investing activities\t(7086538)\t(1665534)\t(5421004)\t325.5%\nNet cash provided by (used in) financing activities\t7131981\t1750934\t5381047\t307.3%\nNet increase (decrease) in cash and cash equivalents\t118911\t120083\t(1172)\t(1.0)%\n", "q10k_tbl_87": "\t\t\tMinimum Capital Levels to be Classified as:\t\t\t\t\t\n\tActual\t\tAdequately Capitalized\t\tWell Capitalized\t\tBasel III Compliant\t\n(dollars in thousands)\tAmount\tRatio\tAmount\tRatio\tAmount\tRatio\tAmount\tRatio\nAs of September 30 2020:\t\t\t\t\t\t\t\t\nCommon equity Tier 1 capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t902174\t7.488%\t542199\t4.500%\tN/A\tN/A\t843420\t7.000%\nCustomers Bank\t1217159\t10.120%\t541217\t4.500%\t781757\t6.500%\t841892\t7.000%\nTier 1 capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t1119645\t9.293%\t722932\t6.000%\tN/A\tN/A\t1024153\t8.500%\nCustomers Bank\t1217159\t10.120%\t721622\t6.000%\t962163\t8.000%\t1022298\t8.500%\nTotal capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t1361237\t11.298%\t963909\t8.000%\tN/A\tN/A\t1265130\t10.500%\nCustomers Bank\t1397059\t11.616%\t962163\t8.000%\t1202704\t10.000%\t1262839\t10.500%\nTier 1 capital (to average assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t1119645\t8.534%\t524799\t4.000%\tN/A\tN/A\t524799\t4.000%\nCustomers Bank\t1217159\t9.288%\t524203\t4.000%\t655254\t5.000%\t524203\t4.000%\nAs of December 31 2019:\t\t\t\t\t\t\t\t\nCommon equity Tier 1 capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t821810\t7.984%\t463211\t4.500%\tN/A\tN/A\t720551\t7.000%\nCustomers Bank\t1164652\t11.323%\t462842\t4.500%\t668549\t6.500%\t719976\t7.000%\nTier 1 capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t1039281\t10.096%\t617615\t6.000%\tN/A\tN/A\t874955\t8.500%\nCustomers Bank\t1164652\t11.323%\t617122\t6.000%\t822829\t8.000%\t874256\t8.500%\nTotal capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t1256309\t12.205%\t823487\t8.000%\tN/A\tN/A\t1080827\t10.500%\nCustomers Bank\t1330155\t12.933%\t822829\t8.000%\t1028537\t10.000%\t1079964\t10.500%\nTier 1 capital (to average assets)\t\t\t\t\t\t\t\t\nCustomers Bancorp Inc.\t1039281\t9.258%\t449026\t4.000%\tN/A\tN/A\t449026\t4.000%\nCustomers Bank\t1164652\t10.379%\t448851\t4.000%\t561064\t5.000%\t448851\t4.000%\n", "q10k_tbl_88": "(amounts in thousands)\tSeptember 30 2020\tDecember 31 2019\nCommitments to fund loans and leases\t246036\t261902\nUnfunded commitments to fund mortgage warehouse loans\t1303981\t1378364\nUnfunded commitments under lines of credit and credit cards\t917305\t1065474\nLetters of credit\t27580\t48856\nOther unused commitments\t2167\t2736\n", "q10k_tbl_89": "\t% Change\t\nRate Shocks\tSeptember 30 2020\tDecember 31 2019\nUp 3%\t8.4%\t3.3%\nUp 2%\t5.9%\t2.7%\nUp 1%\t3.2%\t1.6%\nDown 1%\t1.1%\t(1.9)%\n", "q10k_tbl_90": "\tFrom base\t\nRate Shocks\tSeptember 30 2020\tDecember 31 2019\nUp 3%\t(15.6)%\t(5.6)%\nUp 2%\t(9.3)%\t(2.0)%\nUp 1%\t(4.3)%\t(1.0)%\nDown 1%\t(1.4)%\t(1.1)%\n", "q10k_tbl_91": "Exhibit No.\t\tDescription\n2.1\t*\tAgreement and Plan of Merger by and between Megalith Financial Acquisition Corp. MFAC Merger Sub Inc. Customers Bank and BankMobile Technologies Inc. as the Company incorporated by reference to Exhibit 2.1 to the Customers Bancorp 8-K filed with the SEC on August 6 2020\n2.2\t\tFirst Amendment to Agreement and Plan Merger dated November 2 2020 by and among Megalith Financial Acquisition Corp. MFAC Merger Sub Inc. Customers Bank BankMobile Technologies and Customers Bancorp incorporated by reference to Exhibit 2.1 to the Customers Bancorp 8-K filed with the SEC on November 2 2020\n3.1\t\tAmended and Restated Articles of Incorporation of Customers Bancorp incorporated by reference to Exhibit 3.1 to the Customers Bancorp Form 8-K filed with the SEC on April 30 2012\n3.2\t\tAmended and Restated Bylaws of Customers Bancorp incorporated by reference to Exhibit 3.2 to the Customers Bancorp Form 8-K filed with the SEC on April 30 2012\n3.3\t\tArticles of Amendment to the Amended and Restated Articles of Incorporation of Customers Bancorp incorporated by reference to Exhibit 3.1 to the Customers Bancorp Form 8-K filed with the SEC on July 2 2012\n3.4\t\tArticles of Amendment to the Amended and Restated Articles of Incorporation of Customers Bancorp Inc. incorporated by reference to Exhibit 3.1 to the Customers Bancorp's Form 8-K filed with the SEC on June 3 2019\n3.5\t\tAmendment to Amended and Restated Bylaws of Customers Bancorp Inc. incorporated by reference to Exhibit 3.1 to the Customers Bancorp's Form 8-K filed with the SEC on June 19 2019\n3.6\t\tStatement with Respect to Shares of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock Series C incorporated by reference to Exhibit 3.1 to the Customers Bancorp Form 8-K filed with the SEC on May 18 2015\n3.7\t\tStatement with Respect to Shares of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock Series D incorporated by reference to Exhibit 3.1 to the Customers Bancorp Form 8-K filed with the SEC on January 29 2016\n3.8\t\tStatement with Respect to Shares of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock Series E incorporated by reference to Exhibit 3.1 to the Customers Bancorp Form 8-K filed with the SEC on April 28 2016\n3.9\t\tStatement with Respect to Shares of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock Series F incorporated by reference to Exhibit 3.1 to the Customers Bancorp Form 8-K filed with the SEC on September 16 2016\n4.1\t\tIndenture dated as of July 30 2013 by and between Customers Bancorp Inc. as Issuer and Wilmington Trust National Association as Trustee incorporated by reference to Exhibit 4.1 to the Customers Bancorp Form 8-K filed with the SEC on July 31 2013\n4.2\t\tForm of Note Subscription Agreement (including form of Subordinated Note Certificate and Senior Note Certificate) incorporated by reference to Exhibit 10.1 to the Customers Bancorp Form 8-K filed with the SEC on June 26 2014\n4.3\t\tSecond Supplemental Indenture dated as of June 30 2017 by and between Customers Bancorp Inc as Issuer and Wilmington Trust National Association As Trustee incorporated by reference to Exhibit 4.1 to the Customers Bancorp Form 8-K filed with the SEC on June 30 2017\n4.4\t\tThird Supplemental Indenture dated as of September 25 2019 by and between Customers Bancorp Inc. as Issuer and Wilmington Trust National Association as Trustee incorporated by reference to Exhibit 4.1 to the Customers Bancorp Form 8-K filed with the SEC on September 25 2019\n4.5\t\tForm of 4.50% Senior Note due 2024 incorporated by reference to Exhibit 4.2 to the Customers Bancorp Form 8-K filed with the SEC on September 25 2019\n4.6\t\tSubordinated Indenture dated as of December 9 2019 between the Registrant and Wilmington Trust National Association as Trustee incorporated by reference to Exhibit 4.1 of the Registrant's Current Report on Form 8-K filed December 9 2019\n4.7\t\tFirst Supplemental Indenture dated as of December 9 2019 between Customers Bancorp Inc. as Issuer and Wilmington Trust National Association as Trustee incorporated by reference to Exhibit 4.2 to the Customers Bancorp Form 8-K filed with the SEC on December 9 2019\n4.8\t\tForm of 5.375% Subordinated Note due 2034 incorporated by reference to Exhibit 4.2 to the Customers Bancorp Form 8-K filed with the SEC on December 9 2019\n", "q10k_tbl_92": "10.1\tSponsor Share Letter dated August 6 2020 by and among Sponsor Megalith and Customers Bank incorporated by reference to Exhibit 10.1 to the Customers Bancorp Form 8-K filed with the SEC on August 6 2020\n10.2\tForm of Lock-up Agreement incorporated by reference to Exhibit 10.2 to the Customers Bancorp Form 8-K filed with the SEC on August 6 2020\n10.3\tForm of Non-Competition Agreement incorporated by reference to Exhibit 10.3 to the Customers Bancorp Form 8-K filed with the SEC on August 6 2020\n10.4\tForm of Registration Rights Agreement incorporated by reference to Exhibit 10.4 to the Customers Bancorp Form 8-K filed with the SEC on August 6 2020\n31.1\tCertification of the Chief Executive Officer Pursuant to Exchange Act Rule 13a-14(a) or Rule15d-14(a)\n31.2\tCertification of the Chief Financial Officer Pursuant to Exchange Act Rule 13a-14(a) or Rule15d-14(a)\n32.1\tCertification of the Chief Executive Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of Sarbanes-Oxley Act of 2002\n32.2\tCertification of the Chief Financial Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of Sarbanes-Oxley Act of 2002\n101\tThe following financial statements from the Customers' Annual Report on Form 10-Q as of and for the year ended September 30 2020 formatted in Inline XBRL: (i) Consolidated Balance Sheets (ii) Consolidated Statements of Income (iii) Consolidated Statements of Comprehensive Income (iv) Consolidated Statements of Changes in Shareholders' Equity (v) Consolidated Statements of Cash Flows and (vi) the Notes to the Consolidated Financial Statements.\n104\tCover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document\n101.SCH\tXBRL Taxonomy Extension Schema Document.\n101.CAL\tXBRL Taxonomy Extension Calculation Linkbase Document.\n101.DEF\tXBRL Taxonomy Extension Definitions Linkbase Document.\n101.LAB\tXBRL Taxonomy Extension Label Linkbase Document.\n101.PRE\tXBRL Taxonomy Extension Presentation Linkbase Document.\n"}{"bs": "q10k_tbl_3", "is": "q10k_tbl_4", "cf": "q10k_tbl_8"}None
Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended September 30, 2020
☐
Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from to .
001-35542
(Commission File number)
(Exact name of registrant as specified in its charter)
Customers Bancorp, Inc.
Pennsylvania
27-2290659
(State or other jurisdiction of incorporation or organization)
(IRS Employer Identification No.)
701 Reading Avenue
West ReadingPA19611
(Address of principal executive offices)
(610) 933-2000
(Registrant’s telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbols
Name of Each Exchange on which Registered
Voting Common Stock, par value $1.00 per share
CUBI
New York Stock Exchange
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C, par value $1.00 per share
CUBI/PC
New York Stock Exchange
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, par value $1.00 per share
CUBI/PD
New York Stock Exchange
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E, par value $1.00 per share
CUBI/PE
New York Stock Exchange
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F, par value $1.00 per share
CUBI/PF
New York Stock Exchange
5.375% Subordinated Notes due 2034
CUBB
New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yesx No ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yesx No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
x
Accelerated filer
o
Non-accelerated filer
o
Smaller Reporting Company
☐
Emerging Growth Company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes ☐ No x
________________________________________
On October 30, 2020, 31,601,311 shares of Voting Common Stock were outstanding.
The following list of abbreviations and acronyms may be used throughout this Report, including Management’s Discussion and Analysis of Financial Condition and Results of Operations, the Unaudited Consolidated Financial Statements and the Notes to the Unaudited Consolidated Financial Statements.
2004 Plan
2012 Amendment and Restatement of the Customers Bancorp, Inc. Amended and Restated 2004 Incentive Equity and Deferred Compensation Plan
2010 Plan
2010 Stock Option Plan
2019 Plan
2019 Stock Incentive Plan
ACL
Allowance for credit losses
ASC
Accounting Standards Codification
ALLL
Allowance for loan and lease losses
AOCI
Accumulated other comprehensive income
ASU
Accounting Standards Update
ATM
Automated teller machine
Bancorp
Customers Bancorp, Inc.
Bank
Customers Bank
BBB spread
BBB rated corporate bond spreads to U.S. Treasury securities
BHCA
Bank Holding Company Act of 1956, as amended
BMT
BankMobile Technologies, Inc.
BM Technologies
BM Technologies, Inc.
BOLI
Bank-owned life insurance
BRRP
Bonus Recognition and Retention Program
CARES Act
Coronavirus Aid, Relief and Economic Security Act
CCF
Customers Commercial Finance, LLC
CECL
Current expected credit loss
CEO
Chief Executive Officer
CFO
Chief Financial Officer
CFPB
Consumer Financial Protection Bureau
COSO
Committee of Sponsoring Organizations of the Treadway Commission
COVID-19
Coronavirus Disease 2019
CRA
Community Reinvestment Act
CPI
Consumer Price Index
CUBI
Symbol for Customers Bancorp, Inc. common stock traded on the NYSE
Customers
Customers Bancorp, Inc. and Customers Bank, collectively
Customers Bancorp
Customers Bancorp, Inc.
Department
Pennsylvania Department of Banking and Securities
DCF
Discounted cash flow
DIF
Deposit Insurance Fund
Dodd-Frank Act
Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
ED
United States Department of Education
EGRRCPA
The Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018
EPS
Earnings per share
ESPP
Employee Stock Purchase Plan
EVE
Economic value of equity
FASB
Financial Accounting Standards Board
FDIC
Federal Deposit Insurance Corporation
FDICIA
Federal Deposit Insurance Corporation Improvement Act of 1991
(amounts in thousands, except share and per share data)
September 30, 2020
December 31, 2019
ASSETS
Cash and due from banks
$
5,822
$
33,095
Interest earning deposits
325,594
179,410
Cash and cash equivalents
331,416
212,505
Investment securities, at fair value
1,133,831
595,876
Loans held for sale (includes $6,998 and $2,130, respectively, at fair value)
26,689
486,328
Loans receivable, mortgage warehouse, at fair value
3,913,593
2,245,758
Loans receivable, PPP
4,964,105
—
Loans and leases receivable
7,700,892
7,318,988
Allowance for credit losses on loans and leases
(155,561)
(56,379)
Total loans and leases receivable, net of allowance for credit losses on loans and leases
16,423,029
9,508,367
FHLB, Federal Reserve Bank, and other restricted stock
70,387
84,214
Accrued interest receivable
65,668
38,072
Bank premises and equipment, net
11,744
9,389
Bank-owned life insurance
277,826
272,546
Other real estate owned
131
173
Goodwill and other intangibles
14,437
15,195
Other assets
423,569
298,052
Total assets
$
18,778,727
$
11,520,717
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Deposits:
Demand, non-interest bearing
$
2,327,017
$
1,343,391
Interest bearing
8,512,060
7,305,545
Total deposits
10,839,077
8,648,936
Federal funds purchased
680,000
538,000
FHLB advances
850,000
850,000
Other borrowings
123,935
123,630
Subordinated debt
181,324
181,115
FRB PPP liquidity facility
4,811,009
—
Accrued interest payable and other liabilities
241,891
126,241
Total liabilities
17,727,236
10,467,922
Commitments and contingencies (NOTE 15)
Shareholders’ equity:
Preferred stock, par value $1.00 per share; liquidation preference $25.00 per share; 100,000,000 shares authorized, 9,000,000 shares issued and outstanding as of
September 30, 2020 and December 31, 2019
217,471
217,471
Common stock, par value $1.00 per share; 200,000,000 shares authorized; 32,835,743 and 32,617,410 shares issued as of September 30, 2020 and December 31, 2019; 31,555,124 and 31,336,791 shares outstanding as of September 30, 2020 and December 31, 2019
32,836
32,617
Additional paid in capital
452,965
444,218
Retained earnings
385,750
381,519
Accumulated other comprehensive loss, net
(15,751)
(1,250)
Treasury stock, at cost (1,280,619 shares as of September 30, 2020 and December 31, 2019)
(21,780)
(21,780)
Total shareholders’ equity
1,051,491
1,052,795
Total liabilities and shareholders’ equity
$
18,778,727
$
11,520,717
See accompanying notes to the unaudited consolidated financial statements.