CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY

12 Months Ended

Dec. 31, 2011

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY [Abstract]

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY

NOTE 20 - CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY

On September 17, 2011, Customers Bank and Customers Bancorp, Inc. completed a Plan of Merger and reorganization pursuant to which all of the issued and outstanding common stock of the Bank was exchanged on a three-to-one basis for shares of common stock and non-voting common stock of the Bancorp.

Balance Sheet
	December 31, 2011
Assets
Cash in subsidiary bank	$	4,999
Investment in and receivable due from subsidiary		142,749
Total assets	$	147,748
Shareholders' Equity	$	147,748
Income Statement
	Year Ended
	December 31, 2011
Equity in undistributed income of subsidiary	$	4,034
Net income		4,034
Dividends on preferred stock		44
Net income available to common shareholders	$	3,990

	Year Ended
	December 31, 2011
Statement of Cash Flows
Cash Flows from Operating Activities:
Net income	$	4,034
Adjustments to reconcile net income to net cash used
in operating activities:
Equity in undistributed earnings of subsidiary		(4,034)
Net Cash Used in Operating Activities		-
Cash Flows from Investing Activities:
Payments for investments in and advances to
subsidiaries		(4,420)
Net Cash Used by investing activities		(4,420)
Cash Flows from Financing Activities:
Proceeds from issuance of common stock		13,000
Purchase of treasury stock		(500)
Repayment of TARP		(3,037)
Dividends paid		(44)
Net Cash Provided by Financing Activities		9,419
Net Increase in Cash and Cash Equivalents		4,999
Cash and Cash Equivalents - Beginning		-
Cash and Cash Equivalents - Ending	$	4,999