Exhibit 99.1

Customers Bancorp, Inc.

1015 Penn Avenue

Wyomissing, PA 19610

Contacts:

Jay Sidhu, Chairman & CEO 610-935-8693

Carla Leibold, CFO 484-923-8802

Bob Ramsey, Director of Investor Relations 484-926-7118

Customers Bancorp Reports Net Income

For Second Quarter 2019

Strong Loan Growth, Expanded Net Interest Margin and Expense Control

Expected to Show Strong Core Earnings Growth for Rest of 2019

Wyomissing, PA, July 24, 2019 - Customers Bancorp, Inc. (NYSE: CUBI) the parent company of Customers Bank and its operating division BankMobile (collectively “Customers” or "CUBI"), today reported second quarter 2019 ("Q2 2019") net income to common shareholders of $5.7 million, or $0.18 per diluted share. Core earnings for Q2 2019, which excludes losses related to interest-only GNMA securities acquired from a mortgage warehouse customer of $7.5 million, totaled $12.1 million, or $0.38 per diluted share (a non-GAAP measure). Net interest margin, tax equivalent ("NIM") (a non-GAAP measure), expanded 5 basis points during Q2 2019 and average total loans and leases grew $570 million, or 7%, over first quarter 2019 ("Q1 2019").

(Dollars in thousands, except per share amounts)	USD			Per Share				USD			Per Share
Q2 2019 Net Income to Common Shareholders (GAAP)							YTD June 2019 Net Income to Common Shareholders (GAAP)
Customers Bank Business Banking	$	12,778		$	0.40		Customers Bank Business Banking	$	24,766		$	0.79
BankMobile	(7,097		)	(0.22		)	BankMobile	(7,260		)	(0.23		)
Consolidated	$	5,681		$	0.18		Consolidated	$	17,506		$	0.55
Q2 2019 Core Earnings (Non-GAAP Measure)							YTD June 2019 Core Earnings (Non-GAAP Measure)
Customers Bank Business Banking	$	19,166		$	0.61		Customers Bank Business Banking	$	31,152		$	0.99
BankMobile	(7,084		)	(0.22		)	BankMobile	(7,247		)	(0.23		)
Consolidated	$	12,083		$	0.38		Consolidated	$	23,906		$	0.76

• Customers Bank Business Banking segment reported Q2 2019 earnings per diluted share of $0.40, an increase of $0.02 per diluted share from Q1 2019. Customers Bank Business Banking segment Q2 2019 core earnings per diluted share of $0.61 (a non-GAAP measure) increased $0.23 per diluted share from Q1 2019.

• Notable charges during Q2 2019 totaled $8.3 million, or $0.20 per diluted share, including a $7.5 million loss realized upon the acquisition of certain interest-only GNMA securities that served as the primary collateral for a mortgage warehouse customer that unexpectedly ceased operations in Q2

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2019, or $0.18 per diluted share, accrued severance expense of $0.5 million, or $0.01 per diluted share, and other securities losses of $0.3 million, or $0.01 per diluted share.

• NIM (a non-GAAP measure) expanded 5 basis points from Q1 2019 to 2.64% in Q2 2019; this marks our third consecutive quarter of NIM expansion from the trough of 2.47% reported in third quarter 2018 ("Q3 2018").

• Total assets were $11.2 billion at June 30, 2019, compared to $10.1 billion at March 31, 2019 and $11.1 billion at June 30, 2018. Total asset growth reflected a stronger than expected seasonal increase in mortgage warehouse loans outstanding.

• Total deposits increased$890 million, or 12.2%, year-over-year, which included a $592 million, or 34.5% increase in demand deposits. BankMobile's first White Label banking partnership deposit balances were approaching $50 million at June 30, 2019.

• Loan mix improved year-over-year, as commercial and industrial ("C&I") loans, excluding commercial loans to mortgage companies, increased$377 million, or 21%, and consumer loans increased $549 million. As planned, multi-family loans decreased$525 million, or 15%, year-over-year.

• Asset quality remains strong. Non-performing loans were only 0.15% of total loans at June 30, 2019 and reserves equaled 330% of non-performing loans. Net charge-offs were only $0.6 million, or 3 basis points of average total loans on an annualized basis, during Q2 2019.

• Reflecting growth in C&I and consumer loans, the provision for loan losses was $5.3 million in Q2 2019, compared to $4.8 million in Q1 2019 and a benefit of $0.8 million in second quarter 2018 ("Q2 2018").

• The BankMobile segment reported a loss per diluted share of $(0.22) in Q2 2019, compared to a loss per diluted share of $(0.10) in Q2 2018. Q2 2019 BankMobile segment results reflect an increase in provision for loan losses of $7.1 million, or $0.17 per diluted share, primarily as a result of increased consumer loan growth. Of the $386 million of consumer loan additions during Q2 2019, approximately $206 million was added in June 2019, with $155 million added on June 28, 2019, which impacted provision this quarter and will benefit net interest income in future periods.

• Q2 2019 book value per common share was $24.80 and tangible book value per common share (a non-GAAP measure) was $24.30. Tangible book value per common share has increased at a compound annual growth rate of 10.0% over the past five years.

• Based on the July 17, 2019 closing price of $19.65, Customers Bancorp common equity is trading at 0.81x tangible book value of $24.30 (a non-GAAP measure) and 7.3x the 2020 consensus estimate of $2.71.

Jay Sidhu, CEO and Chairman of Customers Bank stated, "We are pleased with improvements in core earnings and margin expansion this quarter, a reflection of strong loan growth and improved loan mix. We are also excited that BankMobile's first White Label partnership has generated nearly $50 million of very low-cost deposits to Customers. We expect White Label banking to add significant new customers and deposits to our bank over time."

Commenting on Q2 2019 notable items, Mr. Sidhu continued, "We were disappointed with the unexpected, abrupt shut down of one of our mortgage warehouse customers this quarter. We view this as an isolated event that is not indicative of the overall credit quality of our mortgage warehouse portfolio. We took possession of certain interest-only GNMA securities that secured our loan. The shortfall in the fair value of the interest-only GNMA securities resulted in a write-down of approximately $7.5 million. We are still planning to pursue all legal remedies to recover as much of this charge as possible. Separately, a severance charge of $0.5 million during the quarter resulted from our continued diligent analysis of staffing and de-emphasis of less profitable lines of business. We expect the staffing reductions to reduce annual compensation expense by at least $3 million. Other expense control initiatives related to our banking operations have been initiated and are expected to result in material cost savings in the second half of 2019."

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Looking Ahead

Mr. Sidhu continued, "Customers expects core earnings per share to exceed $2.20 in 2019, in line with or ahead of most Street estimates. The planned commercial and consumer loan growth in 2019 requires upfront provision expense. This provision expense caused a drag on Q1 2019 and Q2 2019 earnings and provision expense is expected to be lower in the second half of 2019. Earnings should accelerate starting in Q3 2019. For 2020, Customers is projecting core earnings per share of at least $3.00, an increase of about 45% from the current 2019 consensus estimates.

Net interest margin is now expected to increase over 15 basis points during the second half of 2019 to 2.80% by Q4 2019, with full-year 2019 net interest margin above 2.70%. Average interest earning assets for 2019 are expected to be roughly equal to 2018 average interest earning assets. Core non-interest income is expected to grow approximately 10% - 20% from 2018 and the core efficiency ratio for full-year 2019 is expected to be in the mid-60%s. C&I loans, excluding loans to mortgage companies, are expected to grow over $500 million in 2019, while consumer loans are expected to be approximately 80% of average BankMobile deposits and less than 7.5% of Customers Bank Business Banking segment loans. Core deposit growth is expected to maintain the same pace in the second half of 2019 as the first half of 2019. Continued growth in retained earnings is expected to provide flexibility to call preferred equity as it becomes callable beginning in 2020 and to consider common stock buybacks if CUBI continues to trade below market multiples."

Mr. Sidhu continued, "We believe, at this time, we are on track to achieve core earnings per share in 2019 that meet or exceed Street expectations. Looking ahead, we expect a stronger second half of 2019 and expect core earnings per share to be $3.00 or higher in 2020 and to achieve a core return on average assets of 1.25% within 2-3 years."

Strategic Priorities

Improve Profitability: Target a 2.75% NIM by Q4 2019 and a 1.25% Core ROAA in 2-3 years

As stated during our 2018 Analysts Day in October 2018, Customers expects to keep average total assets relatively flat in 2019, with a focus on growing its core businesses, while improving margins, capital, and profitability. Through favorable mix shifts in both assets and liabilities, Customers expects to improve the overall quality of its balance sheet and deposit franchise, expand its net interest margin, enhance liquidity and improve interest rate sensitivity.

• Target core return on average assets ("ROAA") in top quartile of peer group, which we expect will equate to a ratio of 1.25% or higher over the next 2-3 years.

• Achieve NIM expansion to 2.75% or greater by Q4 2019, with a full year 2019 NIM above 2.70%, through an expected shift in asset and funding mix. We now expect NIM to be 2.80% for Q4 2019.

• BankMobile growth and maturity expected to enhance profitability; we expect BankMobile to be profitable by Q4 2019.

• Expense control; we expect very modest growth in most Customers Bank Business Banking segment expenses during 2019, and incremental spend in other areas will be driven by revenue growth or new business or technology initiatives at BankMobile.

• Core deposit and good quality higher-yielding loan growth are strategic priorities. Customers currently has $1.9 billion of loans with yields below 3.75% at June 30, 2019, of which $1.6 billion are multi-family loans. Over the next two years, we expect to run-off these lower-yielding multi-family loans and will replace them with higher-yielding interest earning assets. During the second half of 2019, we plan to continue reducing this portfolio by $1 billion or more.

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• Maintain strong credit quality and superior risk management. We do not see any material deterioration on the asset quality front. The Bank is relatively neutral to interest rate changes at June 30, 2019.

• Evaluate opportunities to redeem our preferred stock as it becomes callable or buy back our common stock, if that is a better option. Redeeming all of the preferred stock as it becomes callable would add approximately $0.45 to our diluted earnings per share.

Focus on Capital Allocation

The tangible common equity to tangible assets ratio (a non-GAAP measure) was 6.8% at June 30, 2019, while the leverage ratio was 9.5%. These ratios are higher than last year, but declined from March 31, 2019 due to higher seasonal asset levels. "We anticipate having excess capital above our targeted minimum tangible common equity ratio of 7.0% at year-end, which gives us options," Sidhu stated. "As capital builds, we will evaluate the best uses for our excess capital, which may include common stock buybacks or calling our preferred equity as it becomes callable, starting in 2020," Sidhu continued.

BankMobile Segment is Expected to Generate a Positive Earnings Contribution by Q4 2019

BankMobile, a division of Customers Bank, operates a branchless digital bank offering low cost banking services to approximately 1.0 million active deposit customers. Customers reported in Q4 2018 that it expects to retain BankMobile for a 2-3 year period, but will regularly evaluate the best options for BankMobile. "We expect to update the market about our current plans for BankMobile sometime during Q4 2019," stated Sidhu.

BankMobile deposits averaged $489 million in Q2 2019, with an average cost of just 0.17%. The Q2 2019 segment net loss increased to $7.1 million, or $(0.22) per diluted share, compared to a net loss of $3.3 million, or $(0.10) per diluted share in Q2 2018, principally due to an increase in the provision for loan losses of $7.1 million driven from upfront provisions for consumer loans added to the BankMobile segment during Q2 2019. BankMobile is expected to generate a positive contribution to Customers' earnings in Q4 2019, given consumer loan growth, expected core deposit growth, and fee changes to its student disbursement business which will be fully implemented in Q3 2019. These fees are waived for customers that meet minimum monthly deposit requirements, as part of BankMobile's goals of creating customers for life with very low cost banking products. The new fees help balance that strategy with the need to cover costs from more transactional accounts and encourage customers to use BankMobile as a primary banking relationship.

In late November 2018, BankMobile's first White Label banking partnership went live in a beta test phase, making BankMobile's best in class banking products available to the partner's broad customer base, and on April 18, 2019, the partner made a public announcement and began the first phase of national digital marketing efforts. The partnership has generated nearly $50 million in deposits.

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Q22019 Overview

The following table presents a summary of key earnings and performance metrics for the quarter ended June 30, 2019 and the preceding four quarters, respectively:

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
EARNINGS SUMMARY - UNAUDITED
(Dollars in thousands, except per share data and stock price data)		Q2			Q1			Q4			Q3			Q2
		2019			2019			2018			2018			2018
GAAP Profitability Metrics:
Net income available to common shareholders		$	5,681		$	11,825		$	14,247		$	2,414		$	20,048
Per share amounts:
	Earnings per share - basic	$	0.18		$	0.38		$	0.45		$	0.08		$	0.64
	Earnings per share - diluted	$	0.18		$	0.38		$	0.44		$	0.07		$	0.62
	Book value per common share (1)	$	24.80		$	24.44		$	23.85		$	23.27		$	22.70
	CUBI stock price (1)	$	21.00		$	18.31		$	18.20		$	23.53		$	28.38
Average shares outstanding - basic		31,154,292			31,047,191			31,616,740			31,671,122			31,564,893
Average shares outstanding - diluted		31,625,741			31,482,867			32,051,030			32,277,590			32,380,662
Shares outstanding (1)		31,202,023			31,131,247			31,003,028			31,687,340			31,669,643
Return on average assets ("ROAA")		0.36		%	0.64		%	0.71		%	0.22		%	0.89		%
Return on average common equity ("ROCE")		2.96		%	6.38		%	7.58		%	1.31		%	11.32		%
Efficiency ratio		77.32		%	68.32		%	69.99		%	66.42		%	64.35		%
Non-GAAP Profitability Metrics (2):
Core earnings		$	12,083		$	11,823		$	16,992		$	20,053		$	20,841
Per share amounts:
	Core earnings per share - diluted	$	0.38		$	0.38		$	0.53		$	0.62		$	0.64
	Tangible book value per common share (1)	$	24.30		$	23.92		$	23.32		$	22.74		$	22.15
Net interest margin, tax equivalent		2.64		%	2.59		%	2.57		%	2.47		%	2.62		%
Tangible common equity to tangible assets (1)		6.79		%	7.35		%	7.36		%	6.80		%	6.33		%
Core ROAA		0.61		%	0.64		%	0.82		%	0.88		%	0.91		%
Core ROCE		6.31		%	6.38		%	9.05		%	10.86		%	11.76		%
Adjusted pre-tax pre-provision net income		$	25,446		$	25,036		$	27,957		$	31,821		$	30,706
Adjusted ROAA - pre-tax and pre-provision		0.98		%	1.04		%	1.12		%	1.18		%	1.15		%
Adjusted ROCE - pre-tax and pre-provision		11.39		%	11.57		%	12.96		%	15.28		%	15.29		%
Core efficiency ratio		69.90		%	68.32		%	66.18		%	62.99		%	63.26		%
Asset Quality:
Net charge-offs		$	637		$	1,060		$	2,154		$	471		$	427
Annualized net charge-offs to average total loans		0.03		%	0.05		%	0.10		%	0.02		%	0.02		%
Non-performing loans ("NPLs") to total loans (1)		0.15		%	0.26		%	0.32		%	0.27		%	0.29		%
Reserves to NPLs (1)		330.36		%	194.15		%	147.16		%	174.56		%	149.25		%
Regulatory Ratios (3):
Common equity Tier 1 capital to risk-weighted assets		8.04		%	8.91		%	8.96		%	8.70		%	8.61		%
Tier 1 capital to risk-weighted assets		10.31		%	11.47		%	11.58		%	11.26		%	11.16		%
Total capital to risk-weighted assets		11.66		%	12.92		%	13.00		%	12.69		%	12.55		%
Tier 1 capital to average assets (leverage ratio)		9.51		%	10.01		%	9.66		%	8.91		%	8.87		%
(1) Metric is a spot balance for the last day of each quarter presented.
(2) Non-GAAP measures exclude investment securities gains and losses, severance expense, merger and acquisition-related expenses, losses realized from the sale of lower-yielding investment securities and multi-family loans, loss upon acquisition of interest-only GNMA securities, and certain intangible assets. These notable items are not included in Customers' disclosures of core earnings and other core profitability metrics. Please note that not each of the aforementioned adjustments affected the reported amount in each of the periods presented. Customers' reasons for the use of these non-GAAP measures and a detailed reconciliation between the non-GAAP measures and the comparable GAAP amounts are included at the end of this document.
(3) Regulatory capital ratios are estimated for Q2 2019.

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Net Interest Income

Net interest income totaled $64.7 million in Q2 2019, an increase of $5.4 million from Q1 2019, primarily due to a $0.6 billion increase in average interest-earning assets and a 5 basis point expansion of NIM. Compared to Q1 2019, total loan yields increased 14 basis points to 4.62%. The cost of interest-bearing deposits increased by 8 basis points. Borrowing costs increased 11 basis points to 3.09% due to an increase in longer-term borrowings. Total deposit and borrowing costs were 2.04% for Q2 2019, up 9 basis points from 1.95% for Q1 2019.

Q2 2019 net interest income decreased$2.6 million from Q2 2018 primarily due to a $0.5 billion reduction in average interest-earning assets, offset in part by 2 basis points of NIM expansion. Compared to Q2 2018, total loan yields increased 27 basis points to 4.62%. Total investment securities yields increased 55 basis points to 3.77% mostly due to the sale of $495 million of lower-yielding securities in Q3 2018 and run-off of other lower-yielding securities. Given Federal Reserve interest rate hikes in 2018 and the associated increases in market interest rates, the cost of deposits and borrowings increased 51 basis points to 2.04% for Q2 2019, up from 1.67% for Q2 2018.

Total loans increased$608 million, or 6.7%, to $9.7 billion at June 30, 2019 compared to the year-ago period. C&I loans increased $377 million to $2.1 billion, commercial loans to mortgage companies increased $67 million to $2.1 billion; residential mortgages increased $160 million to $655 million; consumer loans increased $549 million to $553 million; and commercial real estate non-owner-occupied loans increased$20.6 million to $1.2 billion. These increases were offset in part by a planned decrease in multi-family loans of $525 million, or 14.8%, to $3.0 billion.

Total deposits increased$890 million, or 12.2%, to $8.2 billion at June 30, 2019 compared to the year-ago period. Total demand deposits increased$592 million, or 34.5%, to $2.3 billion, certificates of deposit accounts increased$366 million, or 17.7%, to $2.4 billion, and savings deposits increased $491 million to $530 million. In July 2018, Customers launched a new digital, on-line savings banking product with a goal of gathering retail deposits. As of June 30, 2019, this new product generated $479 million in retail deposits, an increase of $118 million since March 31, 2019. Higher cost money market deposits decreased $559 million, or 16.1%, to $2.9 billion at June 30, 2019 compared to the year-ago period.

Provision, Credit Quality and Risk Management

The provision for loan losses totaled $5.3 million in Q2 2019, compared to $4.8 million in Q1 2019 and a benefit of $0.8 million in Q2 2018. The Q2 2019 provision expense included $8.0 million for net growth in the consumer and C&I loan portfolios, net of the multi-family loan run off, and $0.1 million for impaired loan provisions, offset in part by a release of reserve of $2.9 million resulting from lower expected credit losses than previously estimated. Net charge-offs for Q2 2019 were $0.6 million, or 3 basis points of average loans on an annualized basis, compared to net charge-offs of $1.1 million, or 5 basis points in Q1 2019, and $0.4 million, or 2 basis points in Q2 2018.

Risk management is a critical component of how Customers creates long-term shareholder value, and Customers believes that asset quality is one of the most important risks in banking to be understood and managed. Customers believes that asset quality risks must be diligently addressed during good economic times with prudent underwriting standards so that when the economy deteriorates the bank's capital is sufficient to absorb all losses without threatening its ability to operate and serve its community and other constituents. "Customers' non-performing loans at June 30, 2019 were only 0.15% of total loans, compared to our peer group non-performing loans of approximately 0.74% in the most recent period available, and industry average non-performing loans of 1.13% in the most recent period available. Our expectation is superior asset quality performance in good times and in difficult years," said Mr. Sidhu.

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Non-Interest Income

Non-interest income totaled $12.0 million in Q2 2019, a decrease of $7.7 million compared to Q1 2019. The decrease in non-interest income primarily reflects a $7.5 million loss on the shortfall in the fair value of the interest-only GNMA securities acquired from a commercial mortgage warehouse loan customer that unexpectedly shut down operations in May 2019 and a seasonal decrease of $2.0 million in interchange and card revenue, offset in part by increases of $1.1 million in deposit fees, $0.4 million in mortgage warehouse transactional fees, and $0.3 million in commercial lease income. The decrease in interchange and card revenue primarily resulted from a seasonal decrease in activity at BankMobile, coinciding with the end of the academic semester, partially offset by higher negotiated fee sharing rates with our debit card processor. The increase in deposit fees primarily resulted from an increase in service charges on some deposit accounts relating to a change in the fee structure at BankMobile. The increase in mortgage warehouse transaction fees primarily resulted from a seasonal increase in activity volumes. The increase in commercial lease income primarily resulted from the continued growth of our Equipment Finance Group.

Non-Interest Expense

Non-interest expense totaled $59.6 million in Q2 2019, an increase of $5.6 million compared to Q1 2019. The increase in non-interest expense primarily resulted from increases of $1.1 million in professional services, $1.1 million in salaries and employee benefits, $0.8 million in other non-interest expenses, $0.7 million in provision for operating losses, and $0.5 million for technology-related costs. The increase in professional services and other non-interest expenses primarily resulted from our ongoing investment in our White Label partnership. The increase in salaries and employee benefits primarily resulted from additional working days compared to the prior quarter, severance payments related to a reduction of headcount, primarily in less profitable business lines, and an increase in headcount at BankMobile.

Tax

Customers' effective tax rate was 21.1% for Q2 2019, compared to 23.8% for Q1 2019 and 22.4% for Q2 2018. The decrease in the effective tax rate from Q1 2019 and Q2 2018 was primarily driven by a favorable return to provision adjustment recorded during Q2 2019. Customers expects the full-year 2019 effective tax rate to be approximately 22% to 24%.

Significantly Lowering Commercial Real Estate Concentration

Customers' total commercial real estate ("CRE") loan exposures subject to regulatory concentration guidelines of $4.2 billion as of June 30, 2019 included construction loans of $78 million, multi-family loans of $3.0 billion, and non-owner occupied commercial real estate loans of $1.1 billion, which represent 340% of total risk-based capital on a combined basis, a reduction from a 392% commercial real estate concentration as of June 30, 2018. Customers' loans subject to regulatory CRE concentration guidelines had a 3 year cumulative reduction of 7.6% in Q2 2019, a deceleration from cumulative growth of 46.3% a year ago.

Customers' loans collateralized by multi-family properties were approximately 31.0% of Customers' total loan portfolio and approximately 246% of total risk-based capital at June 30, 2019, down from approximately 38.9% and 294%, respectively, at June 30, 2018. Following are some key characteristics of Customers' multi-family loan portfolio:

• Principally concentrated in New York City with an emphasis on properties subject to some type of rent control; and principally to high net worth families;

• Current average loan size is $6.9 million;

• Current weighted average annual debt service coverage ratio is 1.52x;

• Current weighted average loan-to-value for the portfolio is 62.3%;

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• All loans are individually stressed with an increase of 1% and 2% to the cap rate and an increase of 1.5% and 3% in loan interest rates;

• All properties are inspected prior to a loan being granted and inspected thereafter on an annual basis by dedicated portfolio managers or outside inspectors; and

• Credit approval process is independent of customer sales and portfolio management process.

Conference Call

Date:            Wednesday, July 24, 2019        

Time:            5:00 PM EDT        

US Dial-in:        800-309-1256

International Dial-in:    323-347-3622

Participant Code:    119216

Please dial in at least 10 minutes before the start of the call to ensure timely participation. Slides accompanying the presentation will be available on Customers' website at https://www.customersbank.com/investor-relations/ prior to the call.

Please submit any questions you have regarding the earnings in advance to rramsey@customersbank.com and the executives will address them on the call. Customers will also open the lines to questions following management's presentation of the second quarter results. A playback of the call will be available beginning July 24, 2019 at 8:00 PM EDT until 8:00 PM EDT on August 23, 2019. To listen, call within the United States 888-203-1112, or 719-457-0820 when calling internationally. Please use the replay passcode 9112020.

Institutional Background

Customers Bancorp, Inc. is a bank holding company located in Wyomissing, Pennsylvania engaged in banking and related businesses through its bank subsidiary, Customers Bank. Customers Bank is a community-based, full-service bank with assets of approximately $11.2 billion at June 30, 2019. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking services to small and medium-sized businesses, professionals, individuals and families through offices in Pennsylvania, the District of Columbia, Illinois, New York, Rhode Island, Massachusetts, New Hampshire and New Jersey. Committed to fostering customer loyalty, Customers Bank uses a High Tech/High Touch strategy that includes use of industry-leading technology to provide customers better access to their money, as well as Concierge Banking® by appointment at customers’ homes or offices 12 hours a day, seven days a week. Customers Bank offers a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers.

Customers Bancorp, Inc.'s voting common shares are listed on the New York Stock Exchange under the symbol CUBI. Additional information about Customers Bancorp, Inc. can be found on the Company’s website, www.customersbank.com.

“Safe Harbor” Statement

In addition to historical information, this press release may contain ''forward-looking statements'' within the meaning of the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to Customers Bancorp, Inc.'s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by, or that include the words ''may,'' ''could,'' ''should,'' ''pro forma,'' ''looking forward,'' ''would,'' ''believe,'' ''expect,'' ''anticipate,'' ''estimate,'' ''intend,'' ''plan,'' or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and

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uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Customers Bancorp, Inc.'s control). Numerous competitive, economic, regulatory, legal and technological factors, among others, could cause Customers Bancorp, Inc.'s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements. In addition, important factors relating to the acquisition of the Disbursements business, the combination of Customers' BankMobile business with the acquired Disbursements business, the implementation of Customers Bancorp, Inc.'s strategy to retain BankMobile for 2-3 years, the possibility that the expected benefits of retaining BankMobile for 2-3 years may not be achieved, or the possible effects on Customers' results of operations if BankMobile is never divested could cause Customers Bancorp's actual results to differ from those in the forward-looking statements. Customers Bancorp, Inc. cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management's current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review Customers Bancorp, Inc.'s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K for the year ended December 31, 2018, subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K, including any amendments thereto, that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. Customers Bancorp, Inc. does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by Customers Bancorp, Inc. or by or on behalf of Customers Bank.

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CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
(Dollars in thousands, except per share data)															Six Months Ended
	Q2			Q1		Q4			Q3			Q2			June 30,
	2019			2019		2018			2018			2018			2019			2018
Interest income:
Loans and leases	$	103,567		$	93,116	$	94,248		$	97,815		$	95,240		$	196,683		$	181,171
Investment securities	6,481			6,241		6,277			8,495			9,765			12,722			18,437
Other	1,902			1,718		2,778			3,735			2,634			3,620			4,996
Total interest income	111,950			101,075		103,303			110,045			107,639			213,025			204,604
Interest expense:
Deposits	35,980			31,225		34,029			32,804			24,182			67,204			43,975
FHLB advances	7,607			5,293		3,662			9,125			11,176			12,900			18,256
Subordinated debt	1,684			1,684		1,684			1,684			1,684			3,369			3,369
Other borrowings	2,000			3,569		2,404			2,431			3,275			5,569			6,651
Total interest expense	47,271			41,771		41,779			46,044			40,317			89,042			72,251
Net interest income	64,679			59,304		61,524			64,001			67,322			123,983			132,353
Provision for loan and lease losses	5,346			4,767		1,385			2,924			(784		)	10,113			1,333
Net interest income after provision for loan and lease losses	59,333			54,537		60,139			61,077			68,106			113,870			131,020
Non-interest income:
Interchange and card revenue	6,760			8,806		7,568			7,084			6,382			15,565			16,043
Deposit fees	3,348			2,209		2,099			2,002			1,632			5,557			3,724
Commercial lease income	2,730			2,401		1,982			1,419			1,091			5,131			1,953
Bank-owned life insurance	1,836			1,816		1,852			1,869			1,869			3,653			3,900
Mortgage warehouse transactional fees	1,681			1,314		1,495			1,809			1,967			2,995			3,854
Gain (loss) on sale of SBA and other loans	—			—		(110		)	1,096			947			—			2,308
Mortgage banking income	250			167		73			207			205			417			325
Loss upon acquisition of interest-only GNMA securities	(7,476		)	—		—			—			—			(7,476		)	—
Gain (loss) on sale of investment securities	—			—		—			(18,659		)	—			—			—
Other	2,907			3,005		4,918			5,257			2,034			5,912			4,930
Total non-interest income	12,036			19,718		19,877			2,084			16,127			31,754			37,037
Non-interest expense:
Salaries and employee benefits	26,920			25,823		26,706			25,462			27,748			52,743			52,673
Technology, communication and bank operations	12,402			11,953		11,531			11,657			11,322			24,355			21,266
Professional services	5,718			4,573		5,674			4,743			3,811			10,291			9,820
Occupancy	3,064			2,903		2,933			2,901			3,141			5,967			5,975
Commercial lease depreciation	2,252			1,923		1,550			1,103			920			4,174			1,735
FDIC assessments, non-income taxes, and regulatory fees	2,157			1,988		1,892			2,415			2,135			4,145			4,335
Provision for operating losses	2,446			1,779		1,685			1,171			1,233			4,225			2,759
Advertising and promotion	1,360			809		917			820			319			2,169			709
Merger and acquisition related expenses	—			—		470			2,945			869			—			975
Loan workout	643			320		360			516			648			963			1,307
Other real estate owned (income) expenses	(14		)	57		285			66			58			43			98
Other	2,634			1,856		3,042			3,305			1,546			4,491			4,379
Total non-interest expense	59,582			53,984		57,045			57,104			53,750			113,566			106,031
Income before income tax expense	11,787			20,271		22,971			6,057			30,483			32,058			62,026
Income tax expense	2,491			4,831		5,109			28			6,820			7,323			14,222
Net income	9,296			15,440		17,862			6,029			23,663			24,735			47,804
Preferred stock dividends	3,615			3,615		3,615			3,615			3,615			7,229			7,229
Net income available to common shareholders	$	5,681		$	11,825	$	14,247		$	2,414		$	20,048		$	17,506		$	40,575
Basic earnings per common share	$	0.18		$	0.38	$	0.45		$	0.08		$	0.64		$	0.56		$	1.29
Diluted earnings per common share	$	0.18		$	0.38	$	0.44		$	0.07		$	0.62		$	0.55		$	1.26

10

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET - UNAUDITED
(Dollars in thousands)
	June 30,			March 31,			December 31,			September 30,			June 30,
	2019			2019			2018			2018			2018
ASSETS
Cash and due from banks	$	24,757		$	41,723		$	17,696		$	12,943		$	22,969
Interest-earning deposits	71,038			75,939			44,439			653,091			228,757
Cash and cash equivalents	95,795			117,662			62,135			666,034			251,726
Investment securities, at fair value	708,359			678,142			665,012			668,851			1,161,000
Loans held for sale	5,697			1,602			1,507			1,383			1,043
Loans receivable, mortgage warehouse, at fair value	2,001,540			1,480,195			1,405,420			1,516,327			1,930,738
Loans receivable	7,714,106			7,264,049			7,138,074			7,239,950			7,181,726
Allowance for loan losses	(48,388		)	(43,679		)	(39,972		)	(40,741		)	(38,288		)
Total loans receivable, net of allowance for loan losses	9,667,258			8,700,565			8,503,522			8,715,536			9,074,176
FHLB, Federal Reserve Bank, and other restricted stock	101,947			80,416			89,685			74,206			136,066
Accrued interest receivable	38,506			35,716			32,955			32,986			33,956
Bank premises and equipment, net	10,095			10,542			11,063			11,300			11,224
Bank-owned life insurance	268,682			266,740			264,559			263,117			261,121
Other real estate owned	1,076			976			816			1,450			1,705
Goodwill and other intangibles	15,847			16,173			16,499			16,825			17,150
Other assets	269,165			235,360			185,672			165,416			143,679
Total assets	$	11,182,427		$	10,143,894		$	9,833,425		$	10,617,104		$	11,092,846
LIABILITIES AND SHAREHOLDERS' EQUITY
Demand, non-interest bearing deposits	$	1,380,698		$	1,372,358		$	1,122,171		$	1,338,167		$	1,090,744
Interest-bearing deposits	6,805,079			6,052,960			6,020,065			7,175,547			6,205,210
Total deposits	8,185,777			7,425,318			7,142,236			8,513,714			7,295,954
Federal funds purchased	406,000			388,000			187,000			—			105,000
FHLB advances	1,262,100			1,025,832			1,248,070			835,000			2,389,797
Other borrowings	99,055			123,963			123,871			123,779			186,888
Subordinated debt	109,026			109,002			108,977			108,953			108,929
Accrued interest payable and other liabilities	129,064			93,406			66,455			80,846			70,051
Total liabilities	10,191,022			9,165,521			8,876,609			9,662,292			10,156,619
Preferred stock	217,471			217,471			217,471			217,471			217,471
Common stock	32,483			32,412			32,252			32,218			32,200
Additional paid in capital	439,067			436,713			434,314			431,205			428,796
Retained earnings	334,157			328,476			316,651			302,404			299,990
Accumulated other comprehensive loss	(9,993		)	(14,919		)	(22,663		)	(20,253		)	(33,997		)
Treasury stock, at cost	(21,780		)	(21,780		)	(21,209		)	(8,233		)	(8,233		)
Total shareholders' equity	991,405			978,373			956,816			954,812			936,227
Total liabilities & shareholders' equity	$	11,182,427		$	10,143,894		$	9,833,425		$	10,617,104		$	11,092,846

11

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
AVERAGE BALANCE SHEET / NET INTEREST MARGIN - UNAUDITED
(Dollars in thousands)
	Three Months Ended
	June 30, 2019			March 31, 2019			June 30, 2018
	Average Balance		Average Yield or Cost (%)	Average Balance		Average Yield or Cost (%)	Average Balance		Average Yield or Cost (%)
Assets
Interest earning deposits	$	78,666	3.01%	$	85,263	2.52%	$	188,880	1.78%
Investment securities (1)	687,048		3.77%	691,823		3.61%	1,213,989		3.22%
Loans and leases:
Commercial loans to mortgage companies	1,658,070		4.76%	1,264,478		5.05%	1,760,519		4.93%
Multi-family loans	3,097,537		3.84%	3,253,792		3.79%	3,561,679		3.90%
Commercial and industrial loans and leases (2)	2,041,315		5.19%	1,921,139		5.14%	1,713,150		4.75%
Non-owner occupied commercial real estate loans	1,181,455		4.53%	1,169,333		4.47%	1,269,373		4.34%
Residential mortgages	723,160		4.28%	695,748		4.16%	477,932		4.08%
Consumer loans	289,511		9.41%	116,295		9.15%	4,166		4.62%
Total loans and leases (3)	8,991,048		4.62%	8,420,785		4.48%	8,786,819		4.35%
Other interest-earning assets	94,388		5.58%	80,542		5.98%	139,842		5.15%
Total interest-earning assets	9,851,150		4.56%	9,278,413		4.41%	10,329,530		4.18%
Non-interest-earning assets	520,692			481,116			391,660
Total assets	$	10,371,842		$	9,759,529		$	10,721,190
Liabilities
Interest checking accounts	$	836,154	1.96%	$	815,072	1.90%	$	554,441	1.58%
Money market deposit accounts	3,168,957		2.26%	3,144,888		2.24%	3,310,979		1.63%
Other savings accounts	484,303		2.16%	380,911		2.02%	36,784		0.27%
Certificates of deposit	1,972,792		2.33%	1,552,153		2.14%	1,960,007		1.75%
Total interest-bearing deposits (4)	6,462,206		2.23%	5,893,024		2.15%	5,862,211		1.65%
Borrowings	1,462,362		3.09%	1,432,685		2.98%	2,736,644		2.36%
Total interest-bearing liabilities	7,924,568		2.39%	7,325,709		2.31%	8,598,855		1.88%
Non-interest-bearing deposits (4)	1,345,494			1,360,815			1,109,527
Total deposits and borrowings	9,270,062		2.04%	8,686,524		1.95%	9,708,382		1.67%
Other non-interest-bearing liabilities	115,717			104,401			84,788
Total liabilities	9,385,779			8,790,925			9,793,170
Shareholders' equity	986,063			968,604			928,020
Total liabilities and shareholders' equity	$	10,371,842		$	9,759,529		$	10,721,190
Interest spread			2.51%			2.46%			2.51%
Net interest margin			2.63%			2.59%			2.61%
Net interest margin tax equivalent (5)			2.64%			2.59%			2.62%
(1) For presentation in this table, average balances and the corresponding average yields for investment securities are based upon historical cost, adjusted for amortization of premiums and accretion of discounts.
(2) Includes owner occupied commercial real estate loans.
(3) Includes non-accrual loans, the effect of which is to reduce the yield earned on loans and leases, and deferred loan fees.
(4) Total costs of deposits (including interest bearing and non-interest bearing) were 1.85%, 1.75% and 1.39% for the three months ended June 30, 2019, March 31, 2019 and June 30, 2018, respectively.
(5) Non-GAAP tax-equivalent basis, using an estimated marginal tax rate of 26% for the three months ended June 30, 2019, March 31, 2019 and June 30 2018, presented to approximate interest income as a taxable asset. Management uses non-GAAP measures to present historical periods comparable to the current period presentation. In addition, management believes the use of these non-GAAP measures provides additional clarity when assessing Customers’ financial results. These disclosures should not be viewed as substitutes for results determined to be in accordance with U.S. GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other entities.

12

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
AVERAGE BALANCE SHEET / NET INTEREST MARGIN - UNAUDITED
(Dollars in thousands)
	Six Months Ended
	June 30, 2019			June 30, 2018
	Average Balance		Average Yield or Cost (%)	Average Balance		Average Yield or Cost (%)
Assets
Interest earning deposits	$	81,947	2.76%	$	186,470	1.66%
Investment securities (1)	689,422		3.69%	1,150,064		3.21%
Loans and leases:
Commercial loans to mortgage companies	1,462,362		4.89%	1,676,601		4.81%
Multi-family loans	3,175,233		3.81%	3,599,593		3.81%
Commercial and industrial loans and leases (2)	1,981,559		5.16%	1,683,566		4.55%
Non-owner occupied commercial real estate loans	1,175,428		4.50%	1,275,404		4.26%
Residential mortgages	709,529		4.22%	402,638		4.09%
Consumer loans	203,381		9.34%	3,881		4.78%
Total loans and leases (3)	8,707,492		4.55%	8,641,683		4.23%
Other interest-earning assets	87,503		5.76%	128,396		5.44%
Total interest-earning assets	9,566,364		4.49%	10,106,613		4.08%
Non-interest-earning assets	501,013			393,066
Total assets	$	10,067,377		$	10,499,679
Liabilities
Interest checking accounts	$	825,672	1.93%	$	526,995	1.38%
Money market deposit accounts	3,156,988		2.25%	3,356,717		1.50%
Other savings accounts	432,893		2.10%	37,138		0.27%
Certificates of deposit	1,763,634		2.24%	1,916,421		1.62%
Total interest-bearing deposits (4)	6,179,187		2.19%	5,837,271		1.52%
Borrowings	1,447,606		3.04%	2,461,085		2.31%
Total interest-bearing liabilities	7,626,793		2.35%	8,298,356		1.75%
Non-interest-bearing deposits (4)	1,353,112			1,193,769
Total deposits and borrowings	8,979,905		2.00%	9,492,125		1.53%
Other non-interest-bearing liabilities	110,090			80,074
Total liabilities	9,089,995			9,572,199
Shareholders' equity	977,382			927,480
Total liabilities and shareholders' equity	$	10,067,377		$	10,499,679
Interest spread			2.49%			2.55%
Net interest margin			2.61%			2.64%
Net interest margin tax equivalent (5)			2.62%			2.64%
(1) For presentation in this table, average balances and the corresponding average yields for investment securities are based upon historical cost, adjusted for amortization of premiums and accretion of discounts.
(2) Includes owner occupied commercial real estate loans.
(3) Includes non-accrual loans, the effect of which is to reduce the yield earned on loans and leases, and deferred loan fees.
(4) Total costs of deposits (including interest bearing and non-interest bearing) were 1.80% and 1.26% for the six months ended June 30, 2019 and June 30, 2018, respectively.
(5) Non-GAAP tax-equivalent basis, using an estimated marginal tax rate of 26% for both the six months ended June 30, 2019 and 2018, presented to approximate interest income as a taxable asset. Management uses non-GAAP measures to present historical periods comparable to the current period presentation. In addition, management believes the use of these non-GAAP measures provides additional clarity when assessing Customers’ financial results. These disclosures should not be viewed as substitutes for results determined to be in accordance with U.S. GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other entities.

13

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES

SEGMENT REPORTING - UNAUDITED

(Dollars in thousands, except per share amounts)

The following tables present Customers' business segment results for the three and six months ended June 30, 2019 and 2018:

	Three Months Ended June 30, 2019								Three Months Ended June 30, 2018
	Customers Bank Business Banking			BankMobile			Consolidated		Customers Bank Business Banking			BankMobile			Consolidated
Interest income (1)	$	103,014		$	8,936		$	111,950	$	104,110		$	3,529		$	107,639
Interest expense	47,061			210			47,271		40,182			135			40,317
Net interest income	55,953			8,726			64,679		63,928			3,394			67,322
Provision for loan losses	(2,206		)	7,552			5,346		(1,247		)	463			(784		)
Non-interest income	970			11,066			12,036		7,465			8,662			16,127
Non-interest expense	38,107			21,475			59,582		37,721			16,029			53,750
Income (loss) before income tax expense (benefit)	21,022			(9,235		)	11,787		34,919			(4,436		)	30,483
Income tax expense (benefit)	4,629			(2,138		)	2,491		7,910			(1,090		)	6,820
Net income (loss)	16,393			(7,097		)	9,296		27,009			(3,346		)	23,663
Preferred stock dividends	3,615			—			3,615		3,615			—			3,615
Net income (loss) available to common shareholders	$	12,778		$	(7,097	)	$	5,681	$	23,394		$	(3,346	)	$	20,048
Basic earnings (loss) per common share	$	0.41		$	(0.23	)	$	0.18	$	0.74		$	(0.11	)	$	0.64
Diluted earnings (loss) per common share	$	0.40		$	(0.22	)	$	0.18	$	0.72		$	(0.10	)	$	0.62

(1) Amounts reported include funds transfer pricing of $2.2 million and $3.5 million for the three months ended June 30, 2019 and 2018, respectively, credited to BankMobile for the value provided to the Customers Bank Business Banking segment for the use of excess low/no cost deposits.

	Six Months Ended June 30, 2019							Six Months Ended June 30, 2018
	Customers Bank Business Banking		BankMobile			Consolidated		Customers Bank Business Banking		BankMobile			Consolidated
Interest income (2)	$	195,885	$	17,140		$	213,025	$	196,664	$	7,940		$	204,604
Interest expense	88,666		376			89,042		72,100		151			72,251
Net interest income	107,219		16,764			123,983		124,564		7,789			132,353
Provision for loan losses	770		9,343			10,113		627		706			1,333
Non-interest income	8,547		23,207			31,754		15,904		21,133			37,037
Non-interest expense	73,491		40,075			113,566		72,052		33,979			106,031
Income (loss) before income tax expense (benefit)	41,505		(9,447		)	32,058		67,789		(5,763		)	62,026
Income tax expense (benefit)	9,510		(2,187		)	7,323		15,638		(1,416		)	14,222
Net income (loss)	31,995		(7,260		)	24,735		52,151		(4,347		)	47,804
Preferred stock dividends	7,229		—			7,229		7,229		—			7,229
Net income (loss) available to common shareholders	$	24,766	$	(7,260	)	$	17,506	$	44,922	$	(4,347	)	$	40,575
Basic earnings (loss) per common share	$	0.80	$	(0.23	)	$	0.56	$	1.43	$	(0.14	)	$	1.29
Diluted earnings (loss) per common share	$	0.79	$	(0.23	)	$	0.55	$	1.39	$	(0.13	)	$	1.26
As of June 30, 2019 and 2018
Goodwill and other intangibles	$	3,629	$	12,218		$	15,847	$	3,629	$	13,521		$	17,150
Total assets (3)	$	10,555,141	$	627,286		$	11,182,427	$	11,017,272	$	75,574		$	11,092,846
Total deposits	$	7,729,580	$	456,197		$	8,185,777	$	6,876,688	$	419,266		$	7,295,954
Total non-deposit liabilities	$	1,970,391	$	34,854		$	2,005,245	$	2,843,360	$	17,305		$	2,860,665

(2) Amounts reported include funds transfer pricing of $7.8 million and $7.9 million for the six months ended June 30, 2019 and 2018, respectively, credited to BankMobile for the value provided to the Customers Bank Business Banking segment for the use of excess low/no cost deposits.

(3) Amounts reported exclude inter-segment receivables.

14

The following tables present Customers' business segment results for the quarter ended June 30, 2019, the preceding four quarters, and the six months ended June 30, 2019, and 2018, respectively:

Customers Bank Business Banking:															Six Months Ended June 30,
	Q2 2019			Q1 2019		Q4 2018			Q3 2018			Q2 2018			2019		2018
Interest income (1)	$	103,014		$	92,871	$	98,129		$	106,156		$	104,110		$	195,885	$	196,664
Interest expense	47,061			41,605		41,592			45,982			40,182			88,666		72,100
Net interest income	55,953			51,266		56,537			60,174			63,928			107,219		124,564
Provision for loan losses	(2,206		)	2,976		(200		)	2,502			(1,247		)	770		627
Non-interest income (loss)	970			7,577		9,352			(7,756		)	7,465			8,547		15,904
Non-interest expense	38,107			35,384		38,778			36,115			37,721			73,491		72,052
Income before income tax expense	21,022			20,483		27,311			13,801			34,919			41,505		67,789
Income tax expense	4,629			4,880		6,175			1,930			7,910			9,510		15,638
Net income	16,393			15,603		21,136			11,871			27,009			31,995		52,151
Preferred stock dividends	3,615			3,615		3,615			3,615			3,615			7,229		7,229
Net income available to common shareholders	$	12,778		$	11,988	$	17,521		$	8,256		$	23,394		$	24,766	$	44,922
Basic earnings per common share	$	0.41		$	0.39	$	0.55		$	0.26		$	0.74		$	0.80	$	1.43
Diluted earnings per common share	$	0.40		$	0.38	$	0.55		$	0.26		$	0.72		$	0.79	$	1.39

(1) Amounts reported include funds transfer pricing of $2.2 million, $5.6 million, $3.8 million, $3.9 million and $3.5 million for the three months ended June 30, 2019, March 31,2019, December 31,2018, September 30,2018, and June 30,2018, respectively. Amounts reported also include funds transfer pricing of $7.8 million and $7.9 million for the six months ended June 30, 2019 and 2018, respectively. These amounts are credited to BankMobile for the value provided to the Customers Bank Business Banking segment for the use of excess low/no cost deposits.

BankMobile:																Six Months Ended June 30,
	Q2 2019			Q1 2019			Q4 2018			Q3 2018			Q2 2018			2019			2018
Interest income (2)	$	8,936		$	8,204		$	5,174		$	3,889		$	3,529		$	17,140		$	7,940
Interest expense	210			166			187			62			135			376			151
Net interest income	8,726			8,038			4,987			3,827			3,394			16,764			7,789
Provision for loan losses	7,552			1,791			1,585			422			463			9,343			706
Non-interest income	11,066			12,141			10,525			9,840			8,662			23,207			21,133
Non-interest expense	21,475			18,600			18,267			20,989			16,029			40,075			33,979
Loss before income tax expense or benefit	(9,235		)	(212		)	(4,340		)	(7,744		)	(4,436		)	(9,447		)	(5,763		)
Income tax benefit	(2,138		)	(49		)	(1,066		)	(1,902		)	(1,090		)	(2,187		)	(1,416		)
Net loss available to common shareholders	$	(7,097	)	$	(163	)	$	(3,274	)	$	(5,842	)	$	(3,346	)	$	(7,260	)	$	(4,347	)
Basic loss per common share	$	(0.23	)	$	(0.01	)	$	(0.10	)	$	(0.18	)	$	(0.11	)	$	(0.23	)	$	(0.14	)
Diluted loss per common share	$	(0.22	)	$	(0.01	)	$	(0.10	)	$	(0.18	)	$	(0.10	)	$	(0.23	)	$	(0.13	)
Deposit balances (3)
Disbursements business deposits	$	409,683		$	615,710		$	370,690		$	732,489		$	419,266
White label deposits	46,514			11,046			5,168			—			—
Total deposits	$	456,197		$	626,756		$	375,858		$	732,489		$	419,266

(2) Amounts reported include funds transfer pricing of $2.2 million, $5.6 million, $3.8 million, $3.9 million and $3.5 million for the three months ended June 30, 2019, March 31,2019, December 31,2018, September 30,2018, and June 30,2018, respectively. Amounts reported also include funds transfer pricing of $7.8 million and $7.9 million for the six months ended June 30, 2019 and 2018, respectively. These amounts are credited to BankMobile for the value provided to the Customers Bank Business Banking segment for the use of excess low/no cost deposits.

(3) As of June 30, 2019, March 31,2019, December 31,2018, September 30,2018, and June 30,2018.

15

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
PERIOD END LOAN COMPOSITION - UNAUDITED
(Dollars in thousands)
	June 30,			March 31,			December 31,			September 30,			June 30,
	2019			2019			2018			2018			2018
Commercial:
Multi-family	$	3,017,531		$	3,212,312		$	3,285,297		$	3,504,540		$	3,542,770
Mortgage warehouse	2,054,307			1,535,343			1,461,810			1,574,731			1,987,306
Commercial & industrial	2,131,790			1,983,081			1,894,887			1,783,300			1,755,183
Commercial real estate non-owner occupied	1,176,575			1,107,336			1,125,106			1,157,849			1,155,998
Construction	59,811			53,372			56,491			95,250			88,141
Total commercial loans	8,440,014			7,891,444			7,823,591			8,115,670			8,529,398
Consumer:
Residential	654,556			626,668			568,068			511,236			494,265
Manufactured housing	75,597			77,778			79,731			82,589			85,328
Consumer	552,839			153,153			74,035			51,210			3,874
Total consumer loans	1,282,992			857,599			721,834			645,035			583,467
Deferred (fees)/costs and unamortized (discounts)/premiums, net	(1,663		)	(3,197		)	(424		)	(3,045		)	642
Total loans	$	9,721,343		$	8,745,846		$	8,545,001		$	8,757,660		$	9,113,507

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
PERIOD END DEPOSIT COMPOSITION - UNAUDITED
(Dollars in thousands)
	June 30,		March 31,		December 31,		September 30,		June 30,
	2019		2019		2018		2018		2018
Demand, non-interest bearing	$	1,380,698	$	1,372,358	$	1,122,171	$	1,338,167	$	1,090,744
Demand, interest bearing	925,180		811,490		803,948		833,176		623,343
Savings	529,532		417,346		384,545		275,825		38,457
Money market	2,912,266		3,265,823		3,097,391		3,673,065		3,471,249
Time deposits	2,438,101		1,558,301		1,734,181		2,393,481		2,072,161
Total deposits	$	8,185,777	$	7,425,318	$	7,142,236	$	8,513,714	$	7,295,954

16

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
ASSET QUALITY - UNAUDITED
(Dollars in thousands)	As of June 30, 2019											As of March 31, 2019											As of June 30, 2018
	Total loans			Non accrual /NPLs		Total credit reserves		Total NPLs to total loans		Total reserves to total NPLs		Total loans			Non accrual /NPLs		Total credit reserves		Total NPLs to total loans		Total reserves to total NPLs		Total loans		Non accrual /NPLs		Total credit reserves		Total NPLs to total loans		Total reserves to total NPLs
Loan type
Multi-family	$	3,017,531		$	—	$	9,926	—	%	—	%	$	3,212,312		$	1,997	$	10,630	0.06	%	532.30	%	$	3,542,770	$	1,343	$	12,069	0.04	%	898.66	%
Commercial & industrial (1)	2,184,556			6,327		17,065		0.29	%	269.72	%	2,038,229			13,064		16,072		0.64	%	123.03	%	1,811,751		14,401		15,246		0.79	%	105.87	%
Commercial real estate non-owner occupied	1,176,575			94		6,159		0.01	%	6552.13	%	1,107,336			102		6,015		0.01	%	5897.06	%	1,155,998		2,536		6,698		0.22	%	264.12	%
Construction	59,811			—		649		—	%	—	%	53,372			—		584		—	%	—	%	88,141		—		992		—	%	—	%
Total commercial loans and leases receivable	6,438,473			6,421		33,799		0.10	%	526.38	%	6,411,249			15,163		33,301		0.24	%	219.62	%	6,598,660		18,280		35,005		0.28	%	191.49	%
Residential	648,860			5,083		4,168		0.78	%	82.00	%	625,066			5,574		6,572		0.89	%	117.90	%	493,222		5,606		2,908		1.14	%	51.87	%
Manufactured housing	75,597			1,570		489		2.08	%	31.15	%	77,778			1,924		644		2.47	%	33.47	%	85,328		2,015		659		2.36	%	32.70	%
Consumer	552,839			359		10,298		0.06	%	2868.52	%	153,153			108		3,689		0.07	%	3415.74	%	3,874		94		226		2.43	%	240.43	%
Total consumer loans receivable	1,277,296			7,012		14,955		0.55	%	213.28	%	855,997			7,606		10,905		0.89	%	143.37	%	582,424		7,715		3,793		1.32	%	49.16	%
Deferred (fees) costs and unamortized (discounts) premiums, net	(1,663		)	—		—		—	%	—	%	(3,197		)	—		—		—	%	—	%	642		—		—		—	%	—	%
Loans and leases receivable	7,714,106			13,433		48,754		0.17	%	362.94	%	7,264,049			22,769		44,206		0.31	%	194.15	%	7,181,726		25,995		38,798		0.36	%	149.25	%
Loans receivable, mortgage warehouse, at fair value	2,001,540			—		—		—	%	—	%	1,480,195			—		—		—	%	—	%	1,930,738		—		—		—	%	—	%
Total loans held for sale	5,697			1,325		—		23.26	%	—	%	1,602			—		—		—	%	—	%	1,043		—		—		—	%	—	%
Total portfolio	$	9,721,343		$	14,758	$	48,754	0.15	%	330.36	%	$	8,745,846		$	22,769	$	44,206	0.26	%	194.15	%	$	9,113,507	$	25,995	$	38,798	0.29	%	149.25	%
(1) Commercial & industrial loans, including owner occupied commercial real estate loans.

17

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
NET CHARGE-OFFS/(RECOVERIES) - UNAUDITED
(Dollars in thousands)
	Q2			Q1			Q4			Q3			Q2
	2019			2019			2018			2018			2018
Loan type
Multi-family	$	(7	)	$	541		$	—		$	—		$	—
Commercial & industrial (1)	(186		)	(239		)	1,457			60			192
Commercial real estate non-owner occupied	(114		)	(6		)	(10		)	(15		)	(209		)
Residential	61			33			52			(6		)	(15		)
Consumer	883			731			655			432			459
Total net charge-offs (recoveries) from loans held for investment	$	637		$	1,060		$	2,154		$	471		$	427
(1) Commercial & industrial loans, including owner occupied commercial real estate.

18

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP MEASURES - UNAUDITED

Customers believes that the non-GAAP measurements disclosed within this document are useful for investors, regulators, management and others to evaluate our core results of operations and financial condition relative to other financial institutions. These non-GAAP financial measures are frequently used by securities analysts, investors, and other interested parties in the evaluation of companies in Customers' industry. These non-GAAP financial measures exclude from corresponding GAAP measures the impact of certain elements that we do not believe are representative of our ongoing financial results, which we believe enhance an overall understanding of our performance and increases comparability of our period to period results. Investors should consider our performance and financial condition as reported under GAAP and all other relevant information when assessing our performance or financial condition. Although non-GAAP financial measures are frequently used in the evaluation of a company, they have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results of operations or financial condition as reported under GAAP.

The following tables present reconciliations of GAAP to non-GAAP measures disclosed within this document.

Core Earnings - Customers Bancorp																						Six Months Ended June 30,
	Q2 2019				Q1 2019					Q4 2018				Q3 2018				Q2 2018				2019				2018
(dollars in thousands except per share data)	USD		Per share		USD			Per share		USD		Per share		USD		Per share		USD		Per share		USD		Per share		USD		Per share
GAAP net income to common shareholders	$	5,681	$	0.18	$	11,825		$	0.38	$	14,247	$	0.44	$	2,414	$	0.07	$	20,048	$	0.62	$	17,506	$	0.55	$	40,575	$	1.26
Reconciling items (after tax):
Severance expense	373		0.01		—			—		1,421		0.04		—		—		—		—		373		0.01		—		—
Loss upon acquisition of interest-only GNMA securities	5,682		0.18		—			—		—		—		—		—		—		—		5,682		0.18		—		—
Merger and acquisition related expenses	—		—		—			—		355		0.01		2,222		0.07		655		0.02		—		—		735		0.02
Losses on sale of multi-family loans	—		—		—			—		868		0.03		—		—		—		—		—		—		—		—
(Gains) losses on investment securities	347		0.01		(2		)	—		101		—		15,417		0.48		138		—		345		0.01		128		—
Core earnings	$	12,083	$	0.38	$	11,823		$	0.38	$	16,992	$	0.53	$	20,053	$	0.62	$	20,841	$	0.64	$	23,906	$	0.76	$	41,438	$	1.28

Core Return on Average Assets - Customers Bancorp																Six Months Ended June 30,
(dollars in thousands except per share data)	Q2 2019			Q1 2019			Q4 2018			Q3 2018			Q2 2018			2019			2018
GAAP net income	$	9,296		$	15,440		$	17,862		$	6,029		$	23,663		$	24,735		$	47,804
Reconciling items (after tax):
Severance expense	373			—			1,421			—			—			373			—
Loss upon acquisition of interest-only GNMA securities	5,682			—			—			—			—			5,682			—
Merger and acquisition related expenses	—			—			355			2,222			655			—			735
Losses on sale of multi-family loans	—			—			868			—			—			—			—
(Gains) losses on investment securities	347			(2		)	101			15,417			138			345			128
Core net income	$	15,698		$	15,438		$	20,607		$	23,668		$	24,456		$	31,135		$	48,667
Average total assets	$	10,371,842		$	9,759,529		$	9,947,367		$	10,728,339		$	10,721,190		$	10,067,377		$	10,499,679
Core return on average assets	0.61		%	0.64		%	0.82		%	0.88		%	0.91		%	0.62		%	0.93		%

19

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP MEASURES - UNAUDITED (CONTINUED)

(Dollars in thousands, except per share data)

Adjusted Net Income and Adjusted ROAA - Pre-Tax Pre-Provision - Customers Bancorp																Six Months Ended June 30,
(dollars in thousands except per share data)	Q2 2019			Q1 2019			Q4 2018			Q3 2018			Q2 2018			2019			2018
GAAP net income	$	9,296		$	15,440		$	17,862		$	6,029		$	23,663		$	24,735		$	47,804
Reconciling items:
Income tax expense	2,491			4,831			5,109			28			6,820			7,323			14,222
Provision for loan losses	5,346			4,767			1,385			2,924			(784		)	10,113			1,333
Severance expense	490			—			1,869			—			—			490			—
Loss upon acquisition of interest-only GNMA securities	7,476			—			—			—			—			7,476			—
Merger and acquisition related expenses	—			—			470			2,945			869			—			975
Losses on sale of multi-family loans	—			—			1,161			—			—			—			—
(Gains) losses on investment securities	347			(2		)	101			19,895			138			345			128
Adjusted net income - pre-tax pre-provision	$	25,446		$	25,036		$	27,957		$	31,821		$	30,706		$	50,482		$	64,462
Average total assets	$	10,371,842		$	9,759,529		$	9,947,367		$	10,728,339		$	10,721,190		$	10,067,377		$	10,499,679
Adjusted ROAA - pre-tax pre-provision	0.98		%	1.04		%	1.12		%	1.18		%	1.15		%	1.01		%	1.24		%

Core Return on Average Common Equity - Customers Bancorp																Six Months Ended June 30,
(dollars in thousands except per share data)	Q2 2019			Q1 2019			Q4 2018			Q3 2018			Q2 2018			2019			2018
GAAP net income to common shareholders	$	5,681		$	11,825		$	14,247		$	2,414		$	20,048		$	17,506		$	40,575
Reconciling items (after tax):
Severance expense	373			—			1,421			—			—			373			—
Loss upon acquisition of interest-only GNMA securities	5,682			—			—			—			—			5,682			—
Merger and acquisition related expenses	—			—			355			2,222			655			—			735
Losses on sale of multi-family loans	—			—			868			—			—			—			—
(Gains) losses on investment securities	347			(2		)	101			15,417			138			345			128
Core earnings	$	12,083		$	11,823		$	16,992		$	20,053		$	20,841		$	23,906		$	41,438
Average total common shareholders' equity	$	768,592		$	751,133		$	745,226		$	732,302		$	710,549		$	759,911		$	710,009
Core return on average common equity	6.31		%	6.38		%	9.05		%	10.86		%	11.76		%	6.34		%	11.77		%

20

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP MEASURES - UNAUDITED (CONTINUED)

(Dollars in thousands, except per share data)

Adjusted ROCE - Pre-Tax Pre-Provision - Customers Bancorp																Six Months Ended June 30,
(dollars in thousands except per share data)	Q2 2019			Q1 2019			Q4 2018			Q3 2018			Q2 2018			2019			2018
GAAP net income to common shareholders	$	5,681		$	11,825		$	14,247		$	2,414		$	20,048		$	17,506		$	40,575
Reconciling items:
Income tax expense	2,491			4,831			5,109			28			6,820			7,323			14,222
Provision for loan losses	5,346			4,767			1,385			2,924			(784		)	10,113			1,333
Severance expense	490			—			1,869			—			—			490			—
Loss upon acquisition of interest-only GNMA securities	7,476			—			—			—			—			7,476			—
Merger and acquisition related expenses	—			—			470			2,945			869			—			975
Losses on sale of multi-family loans	—			—			1,161			—			—			—			—
(Gains) losses on investment securities	347			(2		)	101			19,895			138			345			128
Pre-tax pre-provision adjusted net income available to common shareholders	$	21,831		$	21,421		$	24,342		$	28,206		$	27,091		$	43,253		$	57,233
Average total common shareholders' equity	$	768,592		$	751,133		$	745,226		$	732,302		$	710,549		$	759,911		$	710,009
Adjusted ROCE - pre-tax pre-provision	11.39		%	11.57		%	12.96		%	15.28		%	15.29		%	11.48		%	16.26		%

Net Interest Margin, Tax Equivalent - Customers Bancorp																Six Months Ended June 30,
(dollars in thousands except per share data)	Q2 2019			Q1 2019			Q4 2018			Q3 2018			Q2 2018			2019			2018
GAAP net interest income	$	64,679		$	59,304		$	61,524		$	64,001		$	67,322		$	123,983		$	132,353
Tax-equivalent adjustment	183			181			171			172			171			364			342
Net interest income tax equivalent	$	64,862		$	59,485		$	61,695		$	64,173		$	67,493		$	124,347		$	132,695
Average total interest earning assets	$	9,851,150		$	9,278,413		$	9,518,120		$	10,318,943		$	10,329,530		$	9,566,364		$	10,106,613
Net interest margin, tax equivalent	2.64		%	2.59		%	2.57		%	2.47		%	2.62		%	2.62		%	2.64		%

21

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP MEASURES - UNAUDITED (CONTINUED)

(Dollars in thousands, except per share data)

Core Efficiency Ratio - Customers Bancorp
																Six Months Ended June 30,
(dollars in thousands except per share data)	Q2 2019			Q1 2019			Q4 2018			Q3 2018			Q2 2018			2019			2018
GAAP net interest income	$	64,679		$	59,304		$	61,524		$	64,001		$	67,322		$	123,983		$	132,353
GAAP non-interest income	$	12,036		$	19,718		$	19,877		$	2,084		$	16,127		$	31,754		$	37,037
Loss upon acquisition of interest-only GNMA securities	7,476			—			—			—			—			7,476			—
(Gains) losses on investment securities	347			(2		)	101			19,895			138			345			128
Losses on sale of multi-family loans	—			—			1,161			—			—			—			—
Core non-interest income	19,859			19,716			21,139			21,979			16,265			39,575			37,165
Core revenue	$	84,538		$	79,020		$	82,663		$	85,980		$	83,587		$	163,558		$	169,518
GAAP non-interest expense	$	59,582		$	53,984		$	57,045		$	57,104		$	53,750		$	113,566		$	106,031
Severance expense	(490		)	—			(1,869		)	—			—			(490		)	—
Merger and acquisition related expenses	—			—			(470		)	(2,945		)	(869		)	—			(735		)
Core non-interest expense	$	59,092		$	53,984		$	54,706		$	54,159		$	52,881		$	113,076		$	105,296
Core efficiency ratio (1)	69.90		%	68.32		%	66.18		%	62.99		%	63.26		%	69.14		%	62.11		%

(1) Core efficiency ratio calculated as core non-interest expense divided by core revenue.

Tangible Common Equity to Tangible Assets - Customers Bancorp
(dollars in thousands except per share data)	Q2 2019			Q1 2019			Q4 2018			Q3 2018			Q2 2018
GAAP - Total shareholders' equity	$	991,405		$	978,373		$	956,816		$	954,812		$	936,227
Reconciling items:
Preferred stock	(217,471		)	(217,471		)	(217,471		)	(217,471		)	(217,471		)
Goodwill and other intangibles	(15,847		)	(16,173		)	(16,499		)	(16,825		)	(17,150		)
Tangible common equity	$	758,087		$	744,729		$	722,846		$	720,516		$	701,606
Total assets	$	11,182,427		$	10,143,894		$	9,833,425		$	10,617,104		$	11,092,846
Reconciling items:
Goodwill and other intangibles	(15,847		)	(16,173		)	(16,499		)	(16,825		)	(17,150		)
Tangible assets	$	11,166,580		$	10,127,721		$	9,816,926		$	10,600,279		$	11,075,696
Tangible common equity to tangible assets	6.79		%	7.35		%	7.36		%	6.80		%	6.33		%

22

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP MEASURES - UNAUDITED (CONTINUED)

(Dollars in thousands, except per share data)

Tangible Book Value per Common Share - Customers Bancorp
(dollars in thousands except per share data)	Q2 2019			Q1 2019			Q4 2018			Q3 2018			Q2 2018
GAAP - Total shareholders' equity	$	991,405		$	978,373		$	956,816		$	954,812		$	936,227
Reconciling Items:
Preferred stock	(217,471		)	(217,471		)	(217,471		)	(217,471		)	(217,471		)
Goodwill and other intangibles	(15,847		)	(16,173		)	(16,499		)	(16,825		)	(17,150		)
Tangible common equity	$	758,087		$	744,729		$	722,846		$	720,516		$	701,606
Common shares outstanding	31,202,023			31,131,247			31,003,028			31,687,340			31,669,643
Tangible book value per common share	$	24.30		$	23.92		$	23.32		$	22.74		$	22.15

Tangible Book Value per Common Share - CAGR - Customers Bancorp
(dollars in thousands except per share data)	Q2 2019			Q4 2018			Q4 2017			Q4 2016			Q4 2015			Q4 2014			Q4 2013
GAAP - Total shareholders' equity	$	991,405		$	956,816		$	920,964		$	855,872		$	553,902		$	443,145		$	386,623
Reconciling Items:
Preferred stock	(217,471		)	(217,471		)	(217,471		)	(217,471		)	(55,569		)	—			—
Goodwill and other intangibles	(15,847		)	(16,499		)	(16,295		)	(17,621		)	(3,651		)	(3,664		)	(3,676		)
Tangible common equity	$	758,087		$	722,846		$	687,198		$	620,780		$	494,682		$	439,481		$	382,947
Common shares outstanding	31,202,023			31,003,028			31,382,503			30,289,917			26,901,801			26,745,529			26,646,566
Tangible book value per common share	$	24.30		$	23.32		$	21.90		$	20.49		$	18.39		$	16.43		$	14.37
CAGR	10.02		%

23

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP MEASURES - UNAUDITED (CONTINUED)

(Dollars in thousands, except per share data)

Core Earnings - Customers Bank Business Banking Segment
																						Six Months Ended June 30,
	Q2 2019				Q1 2019					Q4 2018				Q3 2018				Q2 2018				2019				2018
(dollars in thousands except per share data)	USD		Per share		USD			Per share		USD		Per share		USD		Per share		USD		Per share		USD		Per share		USD		Per share
GAAP net income to common shareholders	$	12,778	$	0.40	$	11,988		$	0.38	$	17,521	$	0.55	$	8,256	$	0.26	$	23,394	$	0.72	$	24,766	$	0.79	$	44,922	$	1.39
Reconciling items (after tax):
Severance expense	359		0.01		—			—		1,421		0.04		—		—		—		—		359		0.01		—		—
Loss upon acquisition of interest-only GNMA securities	5,682		0.18		—			—		—		—		—		—		—		—		5,682		0.18
Losses on sale of multi-family loans	—		—		—			—		868		0.03		—		—		—		—		—		—		—		—
(Gains) losses on investment securities	347		0.01		(2		)	—		101		—		15,417		0.48		138		—		345		0.01		128		—
Core earnings	$	19,166	$	0.61	$	11,986		$	0.38	$	19,911	$	0.62	$	23,673	$	0.73	$	23,532	$	0.73	$	31,152	$	0.99	$	45,050	$	1.39

Core Loss - BankMobile Segment																															Six Months Ended June 30,
	Q2 2019						Q1 2019						Q4 2018						Q3 2018						Q2 2018						2019						2018
(dollars in thousands except per share data)	USD			Per share			USD			Per share			USD			Per share			USD			Per share			USD			Per share			USD			Per share			USD			Per share
GAAP net loss to common shareholders	$	(7,097	)	$	(0.22	)	$	(163	)	$	(0.01	)	$	(3,274	)	$	(0.10	)	$	(5,842	)	$	(0.18	)	$	(3,346	)	$	(0.10	)	$	(7,260	)	$	(0.23	)	$	(4,347	)	$	(0.13	)
Reconciling items (after tax):
Severance expense	13			—			—			—			—			—			—			—			—			—			13			—			—			—
Merger and acquisition related expenses	—			—			—			—			355			0.01			2,222			0.07			655			0.02			—			—			735			0.02
Core loss	$	(7,084	)	$	(0.22	)	$	(163	)	$	(0.01	)	$	(2,919	)	$	(0.09	)	$	(3,620	)	$	(0.11	)	$	(2,691	)	$	(0.08	)	$	(7,247	)	$	(0.23	)	$	(3,612	)	$	(0.11	)

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