8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the

Securities Exchange Act of 1934

Date of Report (date of earliest event reported): January 22, 2020

(Exact name of registrant as specified in its charter)

Customers Bancorp, Inc.

Pennsylvania	001-35542	27-2290659
(State or other jurisdiction of incorporation or organization)	(Commission File number)	(IRS Employer Identification No.)

1015 Penn Avenue

Suite 103

Wyomissing PA 19610

(Address of principal executive offices, including zip code)

(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)

Check the appropriate box below if the form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instructions A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). 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. ☐

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

Item 2.02.   Results of Operations and Financial Condition

On January 22, 2020, Customers Bancorp, Inc. (the "Company") issued a press release announcing unaudited financial information for the quarter and year ended December 31, 2019, a copy of which is included as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item 7.01   Regulation FD Disclosure

The Company has posted to its website a slide presentation which is attached hereto as Exhibit 99.2 to this Current Report on Form 8-K and incorporated into this Item 7.01 by reference.

The information in this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 attached hereto and incorporated by reference into Item 2.02 and Item 7.01, respectively, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section. Furthermore, such information, including the exhibits attached hereto, shall not be deemed incorporated by reference into any of the Company's reports or filings with the SEC, whether made before or after the date hereof, except as expressly set forth by specific reference in such report or filing. The information in this Current Report on Form 8-K, including the exhibits attached hereto, shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.

Item 9.01.  Financial Statements and Exhibits

(d) Exhibits.

Exhibit	Description
Exhibit 99.1	Press Release dated January 22, 2020
Exhibit 99.2	Slide presentation dated January 2020

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

CUSTOMERS BANCORP, INC.

By: /s/ Carla A. Leibold

Name: Carla A. Leibold

Title: Executive Vice President - Chief Financial Officer and Treasurer

Date: January 22, 2020

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release dated January 22, 2020
99.2	Slide presentation dated January 2020

EX-99.1

Exhibit 99.1

Customers Bancorp, Inc.

1015 Penn Avenue

Wyomissing, PA 19610

Contacts:

Jay Sidhu, Chairman & CEO 610-935-8693

Richard Ehst, President & COO 610-917-3263

Carla Leibold, CFO 484-923-8802

Sam Sidhu, Head of Corporate Development 212-843-2485

Customers Bancorp Reports Full Year 2019 Net Income up 13% Over Full Year 2018 and Fourth Quarter 2019 Net Income up 68% Over Fourth Quarter 2018

RecordQ4 2019 GAAP Earnings up $10 million Over Q4 2018, and Core Earnings up $7 million

Year-end Assets Exceed $10 billion as CUBI Resumes Growth Strategy and

Reaffirms Target of $3 Core EPS for 2020 and Sets Goal of $6 Core EPS for 2025

•Q4 2019 GAAP Earnings Per Diluted Share of $0.75 and Q4 2019 Core Earnings Per Diluted Share of $0.76

•Q4 2019 Return on Average Assets of 0.97% up 37% Over Q4 2018 and Q4 2019 Pre-Tax and Pre-Provision Adjusted Return on Average Assets of 1.59% up 42% Over Q4 2018

•Q4 2019 Net Interest Margin Expands 6 Basis Points From Q3 2019 to 2.89%

•Customers Bank Business Banking Segment Q4 2019 Net Income Increases 27% Over Q4 2018. BankMobile Segment Moves From a Loss of $3.3 Million in Q4 2018 to a Profit of $1.7 Million in Q4 2019

•CUBI Stock Price up 31% in 2019, Trading at only 89% of Book Value and 91% of Tangible Book Value, and 8.4x the 2020 Consensus EPS Estimate of $2.84, at Year-end 2019

Wyomissing, PA, January 22, 2020 - Customers Bancorp, Inc. (NYSE: CUBI) the parent company of Customers Bank and its operating division BankMobile (collectively “Customers” or "CUBI"), today reported record fourth quarter 2019 ("Q4 2019") net income to common shareholders of $23.9 million, or $0.75 per diluted share, up from $23.5 million in third quarter 2019 ("Q3 2019") and $14.2 million in fourth quarter 2018 ("Q4 2018"). Core earnings for Q4 2019 totaled $24.3 million, or $0.76 per diluted share, up from $23.0 million in Q3 2019 and $17.0 million in Q4 2018 (non-GAAP measures). Q4 2019 core earnings per diluted share was up 43% over Q4 2018 core earnings per diluted share (non-GAAP measures). Net interest margin, tax equivalent ("NIM") (a non-GAAP measure), expanded 6 basis points during Q4 2019 to 2.89%. Full year 2019 ("FY 2019") net income to common shareholders was $64.9 million, or $2.05 per diluted share, up from full year 2018 ("FY 2018") net income to common shareholders of $57.2 million, or $1.78 per diluted share. Core earnings for FY 2019 totaled $71.2 million, or $2.25 per diluted share, compared to core earnings of $78.5 million, or $2.43 per diluted share,

1

for FY 2018 (non-GAAP measures). FY 2019 NIM expanded 17 basis points to 2.75% from FY 2018 NIM of 2.58% (non-GAAP measures).

(Dollars in thousands, except earnings per share amounts)
	Net Income to Common Shareholders (GAAP)
	Q4 2019		EPS		Q4 2018		EPS		FY 2019		EPS		FY 2018		EPS
Customers Bank Business Banking	$	22,218	$	0.70	$	17,521	$	0.55	$	69,751	$	2.20	$	70,698	$	2.19
BankMobile	1,693		0.05		(3,274)		(0.10)		(4,883)		(0.15)		(13,462)		(0.42)
Consolidated	$	23,911	$	0.75	$	14,247	$	0.44	$	64,868	$	2.05	$	57,236	$	1.78
	Core Earnings (Non-GAAP Measure)
	Q4 2019		EPS		Q4 2018		EPS		FY 2019		EPS		FY 2018		EPS
Customers Bank Business Banking	$	22,503	$	0.71	$	19,911	$	0.62	$	75,235	$	2.38	$	88,633	$	2.75
BankMobile	1,769		0.06		(2,919)		(0.09)		(4,034)		(0.13)		(10,150)		(0.31)
Consolidated	$	24,272	$	0.76	$	16,992	$	0.53	$	71,202	$	2.25	$	78,483	$	2.43

•Total assets were $11.5 billion at December 31, 2019, compared to $11.7 billion at September 30, 2019 and $9.8 billion at December 31, 2018. Total assets at December 31, 2019 reflected a change in management's strategy to expand beyond $10 billion in assets during the quarter.

•Loan mix improved year-over-year, as commercial and industrial ("C&I") loans and leases, excluding commercial loans to mortgage companies, increased $487 million, or 26%. Commercial loans to mortgage companies increased $844 million, or 58%, year-over-year as the continued low interest rate environment resulted in a higher 2019 year-end balance than historically experienced. Other consumer loans increased $1.1 billion year-over-year. Multi-family loans decreased $893 million, or 27%, year-over-year, consistent with management's strategy to reduce its overall exposure in this loan portfolio.

•Total deposits increased $1.5 billion, or 21%, year-over-year, which included a $653 million, or 34%, increase in demand deposits.

•The BankMobile segment reported Q4 2019 GAAP earnings per diluted share of $0.05, an increase of $0.15 from a loss per diluted share of $(0.10) in Q4 2018 and the second consecutive quarter of segment profitability.

•NIM (a non-GAAP measure) expanded 6 basis points from Q3 2019 to 2.89% in Q4 2019 and up 32 basis points over Q4 2018; this marks our fifth consecutive quarter of NIM expansion from the trough of 2.47% reported in Q3 2018.

•Core earnings in Q4 2019 was impacted by a $0.8 million ($0.02 per diluted share) loss realized from the sale of non-qualifying ("non-QM") residential mortgage loans and a $0.3 million ($0.01 per diluted share) gain on investment securities.

•Core earnings in FY 2019 was impacted by a loss upon acquisition of interest-only GNMA securities of $7.5 million ($0.18 per diluted share), $2.3 million ($0.06 per diluted share) of gains on investment securities, $2 million ($0.05 per diluted share) of legal reserve accruals, a $0.8 million ($0.02 per diluted share) loss realized from the sale of non-QM residential mortgage loans and $0.5 million ($0.01 per diluted share) of severance expense.

•The return on average assets ("ROAA") was 0.97% in Q4 2019, up from 0.95% in Q3 2019 and 0.71% in Q4 2018. Core ROAA (a non-GAAP measure) was 0.98% in Q4 2019, up from 0.94% in Q3 2019 and 0.82% in Q4 2018.

•The pre-tax and pre-provision adjusted ROAA (a non-GAAP measure) for Q4 2019 was 1.59%, up from 1.38% in Q3 2019 and 1.12% in Q4 2018.

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•The return on average common equity ("ROCE") was 11.58 % in Q4 2019 compared to 11.81% in Q3 2019 and up from 7.58% in Q4 2018. Core ROCE (a non-GAAP measure) was 11.76% in Q4 2019, up from 11.59% in Q3 2019 and 9.05% in Q4 2018.

•Asset quality remains strong. Non-performing loans were only 0.21% of total loans and leases at December 31, 2019 and reserves equaled 265% of non-performing loans. Net charge-offs were only $4.4 million, or 18 basis points of average total loans and leases on an annualized basis, during Q4 2019.

•Reflecting changes in loan mix, the provision for loan losses was $9.7 million in Q4 2019, compared to $4.4 million in Q3 2019 and $1.4 million in Q4 2018.

•Q4 2019 book value per common share was $26.66 and tangible book value per common share (a non-GAAP measure) was $26.17. Tangible book value per common share has increased at a compound annual growth rate of about 10% over the past five years.

•On December 9, 2019, Customers Bancorp completed a public offering of $74.8 million of its 15-year fixed rate 5.375% Subordinated Notes due 2034, which qualifies as Tier 2 capital. $50 million of the net proceeds from that offering were contributed to Customers Bank as qualifying Tier 1 capital.

•Based on the January 17, 2020 closing price of $22.56, Customers Bancorp common equity is trading at 0.86x tangible book value of $26.17 (a non-GAAP measure) and 7.9x the 2020 consensus EPS estimate of $2.84.

Jay Sidhu, CEO and Chairman of Customers Bancorp, Inc. stated, "We are pleased to report that we ended Q4 2019 with record earnings, superior asset quality, strong control in expenses, and our fifth consecutive quarter of net interest margin expansion, a reflection of improved loan mix, core deposit growth, disciplined pricing strategy and absolute focus on efficiency improvement and risk management. We are also excited that BankMobile attained profitability for the second consecutive quarter and its White Label banking strategy has already generated over $80 million of very low-cost deposits to Customers, a number that is expected to grow over time."

3

Status Report on Strategic Priorities Articulated at Analyst Day in October 2018

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 remain focused on growing its core businesses, while improving margins, capital and profitability. Through favorable mix shifts in both assets and liabilities, while maintaining its superior credit quality culture and extreme focus on productivity improvement, Customers improved the overall quality of its balance sheet and deposit franchise, expanded its net interest margin, enhanced liquidity and remains relatively neutral to interest rate changes. The strategies articulated at the 2018 Analysts Day in October 2018 and subsequent 2019 progress are summarized below:

• Target ROAA in top quartile of peer group, which we expect will equate to a ROAA of 1.25% or higher over the next 2-3 years. ROAA was 0.97% in Q4 2019, up significantly from Q4 2018 ROAA of 0.71%. The pre-tax and pre-provision adjusted ROAA (a non-GAAP measure) was 1.59% for Q4 2019, up from 1.12% in Q4 2018.

• 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. Actual results are materially better. NIM was 2.89% in Q4 2019, up from 2.83% in Q3 2019 and 2.57% in Q4 2018. FY 2019 NIM was 2.75%, up from FY 2018 NIM of 2.58%. Since Q3 2018, Customers effectively restructured its balance sheet resulting in NIM expansion of 42 basis points (non-GAAP measures).

• BankMobile growth and maturity was expected with profitability achieved by year end 2019. BankMobile reached profitability in Q3 2019 and maintained profitability in Q4 2019. BankMobile is expected to remain profitable in 2020.

• Expense control. Customers' efficiency ratio was 56.98% in Q4 2019, down from 61.58% in Q3 2019 and 69.99% in Q4 2018. Customers' efficiency ratio for FY 2019 was 65.15%, down from 65.35% for FY 2018.

• Growth in core deposits and good quality higher-yielding loans. Demand Deposit Accounts ("DDAs") grew 34% year-over-year. Lower yielding multi-family loans decreased by $893 million, or 27%, year-over-year and were replaced by higher yielding C&I loans and leases and other consumer loans, which had net growth of $487 million and $1.1 billion year-over-year, respectively.

• Maintain strong credit quality and superior risk management. Non-Performing Loans ("NPLs") were only 0.21% of total loans and leases at December 31, 2019. Reserves to NPLs at December 31, 2019 were 265%, an improvement from 147% at December 31, 2018. The Bank is relatively neutral to interest rate changes at December 31, 2019. We remain very focused on a strong Risk Management culture throughout the company.

• Evaluate opportunities to redeem our preferred stock as it becomes callable. Redeeming all of the preferred stock as it becomes callable would result in an increase to our diluted earnings per share by approximately $0.46 annually. Customers will continue to analyze the best ways to execute this strategy over the next two years, subject to liquidity and capital needs.

Focus on Capital Allocation

The tangible common equity to tangible assets ratio (a non-GAAP measure) was 7.13% and the estimated common equity Tier 1 capital to risk-weighted assets ratio was 8.00% at December 31, 2019, while the leverage ratio was 9.26%. Capital ratios increased from Q3 2019. Customers Bancorp, Inc. also raised $74.8 million in 15-year fixed rate subordinated notes during Q4 2019, $50.0 million of which was contributed to Customers Bank as qualifying Tier 1 capital with the remaining net proceeds retained by Customers Bancorp increasing its liquidity position. Mr. Sidhu stated, "As capital builds, we will evaluate the best uses for our excess capital, which may include calling our preferred equity as it becomes callable, starting in 2020."

4

BankMobile Segment Update

BankMobile, a division of Customers Bank, operates a branchless digital bank offering low cost banking services to over two million Americans, with approximately 1.1 million active deposit customers. Customers reported in Q4 2018 that it expects to retain BankMobile for up to a 2-3 year period, but will regularly evaluate the best options for BankMobile.

BankMobile deposits averaged $543 million in Q4 2019, with an average cost of just 0.21%, and Q4 2019 revenues were $22.3 million and FY 2019 revenues were $86.4 million. The Q4 2019 segment earnings increased to $1.7 million, or $0.05 per diluted share, compared to a net loss of $3.3 million, or $(0.10) per diluted share in Q4 2018, principally due to an increase in net interest income, partially offset by an increase in provision for loan losses. BankMobile had its second consecutive quarter of profitability and is expected to remain profitable in 2020. "We remain in the investment mode for our white label and other unique Banking as a Service ("BaaS") strategic opportunities for BankMobile," stated Luvleen Sidhu, President and Chief Executive Officer of BankMobile. "The profitability improvement has come from increasing revenues from our student banking business while watching our expenses. We are very optimistic about our longer term opportunities to supplement this profitability and growth with continued expansion of our BaaS business," Luvleen Sidhu concluded. "Since Customers Bancorp, Inc. decided to cross the $10 billion asset mark at December 31, 2019, Customers will explore all strategic options for BankMobile in 2020," concluded Jay Sidhu, Customers Bancorp, Inc. CEO and Chairman.

5

Q4 2019 Overview

The following table presents a summary of key earnings and performance metrics for the quarter ended December 31, 2019, the preceding four quarters, and the twelve months ended December 31, 2019 and 2018, respectively:

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
EARNINGS SUMMARY - UNAUDITED
(Dollars in thousands, except per share data and stock price data)		Q4			Q3			Q2			Q1			Q4			Twelve Months Ended December 31,
		2019			2019			2019			2019			2018			2019			2018
GAAP Profitability Metrics:
Net income available to common shareholders		$	23,911		$	23,451		$	5,681		$	11,825		$	14,247		$	64,868		$	57,236
Per share amounts:
	Earnings per share - basic	$	0.76		$	0.75		$	0.18		$	0.38		$	0.45		$	2.08		$	1.81
	Earnings per share - diluted	$	0.75		$	0.74		$	0.18		$	0.38		$	0.44		$	2.05		$	1.78
	Book value per common share (1)	$	26.66		$	25.66		$	24.80		$	24.44		$	23.85		$	26.66		$	23.85
	CUBI stock price (1)	$	23.81		$	20.74		$	21.00		$	18.31		$	18.20		$	23.81		$	18.20
	CUBI stock price as % of book value (1)	89		%	81		%	85		%	75		%	76		%	89		%	76		%
Average shares outstanding - basic		31,306,813			31,223,777			31,154,292			31,047,191			31,616,740			31,183,841			31,570,118
Average shares outstanding - diluted		31,876,341			31,644,728			31,625,741			31,482,867			32,051,030			31,646,216			32,233,098
Shares outstanding (1)		31,336,791			31,245,776			31,202,023			31,131,247			31,003,028			31,336,791			31,003,028
Return on average assets ("ROAA")		0.97		%	0.95		%	0.36		%	0.64		%	0.71		%	0.74		%	0.69		%
Return on average common equity ("ROCE")		11.58 %			11.81		%	2.96		%	6.38		%	7.58		%	8.30		%	7.90		%
Efficiency ratio		56.98 %			61.58		%	77.32		%	68.32		%	69.99		%	65.15		%	65.35		%
Non-GAAP Profitability Metrics (2):
Core earnings		$	24,272		$	23,024		$	12,083		$	11,823		$	16,992		$	71,202		$	78,483
Per share amounts:
	Core earnings per share - diluted	$	0.76		$	0.73		$	0.38		$	0.38		$	0.53		$	2.25		$	2.43
	Tangible book value per common share (1)	$	26.17		$	25.16		$	24.30		$	23.92		$	23.32		$	26.17		$	23.32
	CUBI stock price as % of tangible book value (1)	91		%	82		%	86		%	77		%	78		%	91		%	78		%
Net interest margin, tax equivalent		2.89		%	2.83		%	2.64		%	2.59		%	2.57		%	2.75		%	2.58		%
Tangible common equity to tangible assets (1)		7.13		%	6.71		%	6.79		%	7.35		%	7.36		%	7.13		%	7.36		%
Core ROAA		0.98		%	0.94		%	0.61		%	0.64		%	0.82		%	0.80		%	0.89		%
Core ROCE		11.76		%	11.59		%	6.31		%	6.38		%	9.05		%	9.11		%	10.83		%
Adjusted pre-tax pre-provision net income		$	45,238		$	39,178		$	25,446		$	25,036		$	27,957		$	134,895		$	124,410
Adjusted ROAA - pre-tax and pre-provision		1.59		%	1.38		%	0.98		%	1.04		%	1.12		%	1.26		%	1.19		%
Adjusted ROCE - pre-tax and pre-provision		20.16		%	17.91		%	11.39		%	11.57		%	12.96		%	15.40		%	15.18		%
Core efficiency ratio		56.45		%	59.51		%	69.90		%	68.32		%	66.18		%	62.96		%	63.23		%
Asset Quality:
Net charge-offs		$	4,362		$	1,761		$	637		$	1,060		$	2,154		$	7,821		$	3,685
Annualized net charge-offs to average total loans and leases		0.18		%	0.07		%	0.03		%	0.05		%	0.10		%	0.08		%	0.04		%
Non-performing loans ("NPLs") to total loans and leases (1)		0.21		%	0.17		%	0.15		%	0.26		%	0.32		%	0.21		%	0.32		%
Reserves to NPLs (1)		264.67		%	290.38		%	330.36		%	194.15		%	147.16		%	264.67		%	147.16		%
Regulatory Ratios (3):
Common equity Tier 1 capital to risk-weighted assets		8.00		%	7.81		%	8.04		%	8.91		%	8.96		%	8.00		%	8.96		%
Tier 1 capital to risk-weighted assets		10.11		%	9.95		%	10.32		%	11.47		%	11.58		%	10.11		%	11.58		%
Total capital to risk-weighted assets		12.21		%	11.36		%	11.76		%	12.92		%	13.00		%	12.21		%	13.00		%
Tier 1 capital to average assets (leverage ratio)		9.26		%	9.01		%	9.51		%	10.01		%	9.66		%	9.26		%	9.66		%
(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 multi-family loans, losses realized from the sale of non-QM residential mortgage loans, loss upon acquisition of interest-only GNMA securities, legal reserves and goodwill and 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 Q4 2019.

6

Net Interest Income

FY 2019 net interest income was $277.3 million, up almost $20 million from $257.9 million for FY 2018. Net interest income totaled $77.6 million in Q4 2019, an increase of $1.9 million from Q3 2019, primarily due to an increase in the average balance of non-interest bearing deposits of about $150 million and a 16 basis point decline in the cost of interest-bearing liabilities. Compared to Q3 2019, total loan yields decreased 11 basis points to 4.68%. The cost of interest-bearing deposits in Q4 2019 decreased by 18 basis points due to two Federal Reserve interest rate cuts in September 2019 and October 2019. Borrowing costs increased 5 basis points to 2.91% due to the issuance of $25 million in five-year 4.5% senior notes in September 2019 and $74.8 million in 15-year 5.375% subordinated notes in December 2019, partially offset by two Federal Reserve interest rate cuts in September 2019 and October 2019.

Q4 2019 net interest income increased $16.1 million from Q4 2018, primarily due to 32 basis points of NIM (a non-GAAP measure) expansion and a $1.2 billion increase in average interest-earning assets. Compared to Q4 2018, total loan yields increased 31 basis points to 4.68%. Given Federal Reserve interest rate hikes in 2018 and interest rate cuts in the second half of 2019, the cost of interest-bearing liabilities remained flat at 2.17%.

Total loans and leases increased $1.5 billion, or 17.6%, to $10.1 billion at December 31, 2019 compared to the year-ago period. Mortgage warehouse loans increased $844 million to $2.3 billion, C&I loans and leases increased $487 million to $2.4 billion, commercial real estate non-owner occupied loans increased $98 million to $1.2 billion and other consumer loans increased $1.1 billion to $1.2 billion. These increases were offset in part by planned decreases in multi-family loans of $893 million to $2.4 billion and residential mortgages of $190 million to $378 million.

Total deposits increased $1.5 billion, or 21.1%, to $8.6 billion at December 31, 2019 compared to the year-ago period. Total demand deposits increased $653 million, or 33.9%, to $2.6 billion, savings deposits increased $535 million, or 139.0%, to $919 million, and money market deposits increased $385 million, or 12.4%, to $3.5 billion. These increases were offset in part by a decrease in time deposits of $66 million, or 3.8%, to $1.7 billion. In July 2018, Customers launched a new digital, on-line savings banking product with a goal of gathering retail deposits. At December 31, 2019, this new product generated $863 million in retail deposits, an increase of $330 million since September 30, 2019.

Provision, Credit Quality and Risk Management

The provision for loan and lease losses totaled $24.2 million for FY 2019, up from $5.6 million in FY 2018, while NPLs to total loans and leases improved to 0.21% at December 31, 2019 from 0.32% at December 31, 2018. The provision for loan and lease losses totaled $9.7 million in Q4 2019, compared to $4.4 million in Q3 2019 and $1.4 million in Q4 2018. The Q4 2019 provision expense included $5.0 million for quarter-over-quarter changes in the mix of the loan portfolio and $0.5 million for specifically identified loans. Net charge-offs for Q4 2019 were $4.4 million, or 18 basis points of average loans and leases on an annualized basis, compared to net charge-offs of $1.8 million, or 7 basis points in Q3 2019, and $2.2 million, or 10 basis points in Q4 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 December 31, 2019 were only 0.21% of total loans and leases, 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 1.03% in the most recent period available. Our expectation is superior asset quality performance in good times and in difficult years," said Mr. Sidhu.

7

Non-Interest Income

Non-interest income totaled $80.9 million for FY 2019, an increase of $21.9 million compared to FY 2018. Non-interest income totaled $25.8 million in Q4 2019, an increase of $2.4 million compared to Q3 2019. The increase in non-interest income primarily resulted from increases of $2.8 million in gains on sales of SBA loans, $2.4 million in other non-interest income and $0.8 million in commercial lease income, partially offset by decreases of $1.0 million in gains on sales of investment securities, $1.0 million in unrealized gains on investment securities, $0.9 million in mortgage banking income and $0.4 million in interchange and card revenue. The increase in gains on sales of SBA loans resulted from a strategic shift to no longer retain all SBA loans on our balance sheet in Q4 2019. The increase in other non-interest income primarily resulted from derivative transactions and the increase in commercial lease income resulted from the continued growth of our Equipment Finance Group. The decrease in gain on sales of investment securities resulted from the gain realized from the sale of $95 million of corporate bonds during Q3 2019. The decrease in unrealized gains on investment securities primarily resulted from a smaller improvement in the fair values of the interest-only GNMA securities and equity securities issued by a foreign entity during Q4 2019. The decrease in mortgage banking income primarily resulted from a $0.8 million loss realized from the sale of $230 million of non-QM residential mortgage loans in Q4 2019. 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.

Non-Interest Expense

Non-interest expense totaled $231.9 million for FY 2019, an increase of $11.7 million compared to FY 2018. Non-interest expense totaled $58.7 million in Q4 2019, a decrease of $0.9 million compared to Q3 2019. The decrease in non-interest expense in Q4 2019 primarily resulted from decreases of $2.6 million in provision for operating losses, $1.9 million in professional services and $1.9 million in other non-interest expense, partially offset by increases of $3.3 million in FDIC assessments, $1.6 million in technology and $0.5 million in salaries and employee benefits. The decrease in the provision for operating losses primarily resulted from an internet-based organized crime ring which targeted BankMobile checking accounts in Q3 2019. The decrease in professional services primarily resulted from successful concentrated cost savings initiatives in Q4 2019. The decrease in other non-interest expense primarily resulted from legal reserve accruals totaling $2.0 million recognized in Q3 2019 for previously disclosed legal matters. The increase in FDIC assessments primarily resulted from a $2.6 million small bank assessment credit provided by the FDIC in Q3 2019 related to Customers' contribution to the growth of the FDIC's deposit insurance fund since July 2016. The increase in technology primarily resulted from continued investment in Customers' digital transformation initiatives. The increase in salaries and employee benefits primarily resulted from an increase in full-time equivalents.

Taxes

Customers' effective tax rate was 21.3% for Q4 2019, compared to 22.9% for Q3 2019 and 22.2% for Q4 2018. The decrease in the effective tax rate from Q3 2019 and Q4 2018 was primarily driven by strategic initiatives to lower Customers' effective tax rate through effective use of available tax credits and changes in the apportionment of revenues to states with lower tax costs. Customers expects the full-year 2020 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 $3.7 billion as of December 31, 2019 included construction loans of $0.1 billion, multi-family loans of $2.4 billion, and non-owner occupied commercial real estate loans of $1.1 billion, which represent 294% of total risk-based capital on a combined basis, a reduction from a 361% commercial real estate concentration as of December 31, 2018. Customers' loans subject to regulatory CRE concentration guidelines had a 3 year cumulative reduction of 16.0% as of the end of Q4 2019, a deceleration from cumulative growth of 10.6% a year ago.

8

Customers' loans collateralized by multi-family properties were approximately 23.8% of Customers' total loan portfolio and approximately 191% of total risk-based capital at December 31, 2019, down from approximately 38.4% and 270%, respectively, at December 31, 2018. Following are some key characteristics of Customers' multi-family loan portfolio:

•Mostly 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 approximately $6.9 million;

•Current weighted average annual debt service coverage ratio is 1.51x;

•Current weighted average loan-to-value for the portfolio is 60.1%;

•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.

Recap of 2019 and Looking Ahead to 2020 and Beyond

Mr. Sidhu stated, "Customers' core earnings per share was $2.25 for 2019, in line with our internal expectations and higher than targets we had made public. After diligent consideration and analysis, we decided to end 2019 with total assets above $10 billion. This decision reflects our desire and optimism to continue to grow the Customers Bank Business Banking segment while giving careful consideration to the future strategic options for our BankMobile segment."

Looking ahead to 2020, Mr. Sidhu continued "Customers is projecting core earnings per share of $3.00 for 2020 with continued improvement in all profitability metrics." Mr. Sidhu continued, "In addition, management and our Board of Directors have been actively engaged in developing a vision and strategy for 2025 and are pleased to make public our confidence in achieving $6 per share in annual core earnings by the end of 2025."

Conference Call

Date:   Thursday, January 23, 2020  

Time:   9:00 AM EST  

US Dial-in:  +1 (800) 368-1029

International Dial-in: +1 (334) 777-6981

Participant Code: 094854

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 fourth quarter results. A playback of the call will be available beginning January 23, 2020 at 12:00 PM EST until 12:00 PM EST on February 22, 2020. To listen, call within the United States +1 (888) 203-1112, or +1 (719) 457-0820 when calling internationally. Please use the replay passcode 3422011.

9

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 $11.5 billion at December 31, 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, 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 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.

10

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
(Dollars in thousands, except per share data)											Twelve Months Ended
	Q4		Q3		Q2		Q1		Q4		December 31,
	2019		2019		2019		2019		2018		2019		2018
Interest income:
Loans and leases	$	116,365	$	118,444	$	103,567	$	93,116	$	94,248	$	431,491	$	373,234
Investment securities	5,125		5,867		6,481		6,241		6,277		23,713		33,209
Other	2,505		2,407		1,902		1,718		2,778		8,535		11,508
Total interest income	123,995		126,718		111,950		101,075		103,303		463,739		417,951
Interest expense:
Deposits	35,992		38,267		35,980		31,225		34,029		141,464		110,808
FHLB advances	6,056		7,563		7,607		5,293		3,662		26,519		31,043
Subordinated debt	1,930		1,684		1,684		1,684		1,684		6,983		6,737
Other borrowings	2,424		3,469		2,000		3,569		2,404		11,463		11,486
Total interest expense	46,402		50,983		47,271		41,771		41,779		186,429		160,074
Net interest income	77,593		75,735		64,679		59,304		61,524		277,310		257,877
Provision for loan and lease losses	9,689		4,426		5,346		4,767		1,385		24,227		5,642
Net interest income after provision for loan and lease losses	67,904		71,309		59,333		54,537		60,139		253,083		252,235
Non-interest income:
Interchange and card revenue	6,506		6,869		6,760		8,806		7,568		28,941		30,695
Deposit fees	3,616		3,642		3,348		2,209		2,099		12,815		7,824
Commercial lease income	3,839		3,080		2,730		2,401		1,982		12,051		5,354
Bank-owned life insurance	1,795		1,824		1,836		1,816		1,852		7,272		7,620
Mortgage warehouse transactional fees	1,983		2,150		1,681		1,314		1,495		7,128		7,158
Gain (loss) on sale of SBA and other loans	2,770		—		—		—		(110)		2,770		3,294
Mortgage banking income (loss)	(635)		283		250		167		73		66		606
Loss upon acquisition of interest-only GNMA securities	—		—		(7,476)		—		—		(7,476)		—
Gain (loss) on sale of investment securities	—		1,001		—		—		—		1,001		(18,659)
Unrealized gain (loss) on investment securities	310		1,333		(347)		2		(101)		1,299		(1,634)
Other	5,629		3,187		3,254		3,003		5,019		15,071		16,740
Total non-interest income	25,813		23,369		12,036		19,718		19,877		80,938		58,998
Non-interest expense:
Salaries and employee benefits	27,697		27,193		26,920		25,823		26,706		107,632		104,841
Technology, communication and bank operations	10,370		8,755		12,402		11,953		11,531		43,481		44,454
Professional services	6,470		8,348		5,718		4,573		5,674		25,109		20,237
Occupancy	3,470		3,661		3,064		2,903		2,933		13,098		11,809
Commercial lease depreciation	2,840		2,459		2,252		1,923		1,550		9,473		4,388
FDIC assessments, non-income taxes, and regulatory fees	2,492		(777)		2,157		1,988		1,892		5,861		8,642
Provision for operating losses	1,415		3,998		2,446		1,779		1,685		9,638		5,616
Advertising and promotion	899		976		1,360		809		917		4,044		2,446
Merger and acquisition related expenses	100		—		—		—		470		100		4,391
Loan workout	230		495		643		320		360		1,687		2,183
Other real estate owned (income) expenses	247		108		(14)		57		285		398		449
Other	2,510		4,376		2,634		1,856		3,042		11,380		10,723
Total non-interest expense	58,740		59,592		59,582		53,984		57,045		231,901		220,179
Income before income tax expense	34,977		35,086		11,787		20,271		22,971		102,120		91,054
Income tax expense	7,451		8,020		2,491		4,831		5,109		22,793		19,359
Net income	27,526		27,066		9,296		15,440		17,862		79,327		71,695
Preferred stock dividends	3,615		3,615		3,615		3,615		3,615		14,459		14,459
Net income available to common shareholders	$	23,911	$	23,451	$	5,681	$	11,825	$	14,247	$	64,868	$	57,236
Basic earnings per common share	$	0.76	$	0.75	$	0.18	$	0.38	$	0.45	$	2.08	$	1.81
Diluted earnings per common share	$	0.75	$	0.74	$	0.18	$	0.38	$	0.44	$	2.05	$	1.78

11

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET - UNAUDITED
(Dollars in thousands)
	December 31,		September 30,		June 30,		March 31,		December 31,
	2019		2019		2019		2019		2018
ASSETS
Cash and due from banks	$	33,095	$	12,555	$	24,757	$	41,723	$	17,696
Interest-earning deposits	179,410		169,663		71,038		75,939		44,439
Cash and cash equivalents	212,505		182,218		95,795		117,662		62,135
Investment securities, at fair value	595,876		608,714		708,359		678,142		665,012
Loans held for sale	486,328		502,854		5,697		1,602		1,507
Loans receivable, mortgage warehouse, at fair value	2,245,758		2,438,530		2,001,540		1,480,195		1,405,420
Loans and leases receivable	7,318,988		7,336,237		7,714,106		7,264,049		7,138,074
Allowance for loan and lease losses	(56,379)		(51,053)		(48,388)		(43,679)		(39,972)
Total loans and leases receivable, net of allowance for loan and lease losses	9,508,367		9,723,714		9,667,258		8,700,565		8,503,522
FHLB, Federal Reserve Bank, and other restricted stock	84,214		81,853		101,947		80,416		89,685
Accrued interest receivable	38,072		38,412		38,506		35,716		32,955
Bank premises and equipment, net	9,389		14,075		10,095		10,542		11,063
Bank-owned life insurance	272,546		270,526		268,682		266,740		264,559
Other real estate owned	173		204		1,076		976		816
Goodwill and other intangibles	15,195		15,521		15,847		16,173		16,499
Other assets	298,052		285,699		269,165		235,360		185,672
Total assets	$	11,520,717	$	11,723,790	$	11,182,427	$	10,143,894	$	9,833,425
LIABILITIES AND SHAREHOLDERS' EQUITY
Demand, non-interest bearing deposits	$	1,343,391	$	1,569,918	$	1,380,698	$	1,372,358	$	1,122,171
Interest-bearing deposits	7,305,545		7,355,767		6,805,079		6,052,960		6,020,065
Total deposits	8,648,936		8,925,685		8,185,777		7,425,318		7,142,236
Federal funds purchased	538,000		373,000		406,000		388,000		187,000
FHLB advances	850,000		1,040,800		1,262,100		1,025,832		1,248,070
Other borrowings	123,630		123,528		99,055		123,963		123,871
Subordinated debt	181,115		109,050		109,026		109,002		108,977
Accrued interest payable and other liabilities	126,241		132,577		129,064		93,406		66,455
Total liabilities	10,467,922		10,704,640		10,191,022		9,165,521		8,876,609
Preferred stock	217,471		217,471		217,471		217,471		217,471
Common stock	32,617		32,526		32,483		32,412		32,252
Additional paid in capital	444,218		441,499		439,067		436,713		434,314
Retained earnings	381,519		357,608		334,157		328,476		316,651
Accumulated other comprehensive loss	(1,250)		(8,174)		(9,993)		(14,919)		(22,663)
Treasury stock, at cost	(21,780)		(21,780)		(21,780)		(21,780)		(21,209)
Total shareholders' equity	1,052,795		1,019,150		991,405		978,373		956,816
Total liabilities & shareholders' equity	$	11,520,717	$	11,723,790	$	11,182,427	$	10,143,894	$	9,833,425

12

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
AVERAGE BALANCE SHEET / NET INTEREST MARGIN - UNAUDITED
(Dollars in thousands)
	Three Months Ended
	December 31, 2019			September 30, 2019			December 31, 2018
	Average Balance		Average Yield or Cost (%)	Average Balance		Average Yield or Cost (%)	Average Balance		Average Yield or Cost (%)
Assets
Interest earning deposits	$	150,382	2.21%	$	100,343	3.26%	$	185,145	2.24%
Investment securities (1)	584,955		3.50%	652,142		3.60%	697,474		3.60%
Loans and leases:
Commercial loans to mortgage companies	2,158,626		4.16%	2,103,612		4.58%	1,409,197		5.03%
Multi-family loans	2,654,919		3.96%	2,929,650		3.91%	3,445,267		3.76%
Commercial and industrial loans and leases (2)	2,318,313		4.79%	2,159,067		5.24%	1,823,189		4.93%
Non-owner occupied commercial real estate loans	1,325,630		4.55%	1,294,246		4.57%	1,224,750		4.40%
Residential mortgages	631,370		4.05%	729,603		4.11%	599,797		4.02%
Other consumer loans	765,765		9.11%	600,256		9.47%	60,210		9.26%
Total loans and leases (3)	9,854,623		4.68%	9,816,434		4.79%	8,562,410		4.37%
Other interest-earning assets	86,770		7.63%	98,279		6.39%	73,091		9.41%
Total interest-earning assets	10,676,730		4.61%	10,667,198		4.72%	9,518,120		4.31%
Non-interest-earning assets	580,477			591,946			429,247
Total assets	$	11,257,207		$	11,259,144		$	9,947,367
Liabilities
Interest checking accounts	$	1,152,349	1.65%	$	1,014,590	1.83%	$	767,154	1.60%
Money market deposit accounts	3,190,543		2.01%	3,100,975		2.22%	3,391,542		2.08%
Other savings accounts	722,487		2.09%	561,790		2.19%	350,304		1.99%
Certificates of deposit	2,012,497		2.21%	2,227,817		2.34%	2,141,598		2.11%
Total interest-bearing deposits (4)	7,077,876		2.02%	6,905,172		2.20%	6,650,598		2.03%
Borrowings	1,424,550		2.91%	1,770,459		2.86%	983,540		3.13%
Total interest-bearing liabilities	8,502,426		2.17%	8,675,631		2.33%	7,634,138		2.17%
Non-interest-bearing deposits (4)	1,580,050			1,431,810			1,261,330
Total deposits and borrowings	10,082,476		1.83%	10,107,441		2.00%	8,895,468		1.86%
Other non-interest-bearing liabilities	138,242			146,347			89,202
Total liabilities	10,220,718			10,253,788			8,984,670
Shareholders' equity	1,036,489			1,005,356			962,697
Total liabilities and shareholders' equity	$	11,257,207		$	11,259,144		$	9,947,367
Interest spread			2.78%			2.71%			2.45%
Net interest margin			2.89%			2.82%			2.57%
Net interest margin tax equivalent (5)			2.89%			2.83%			2.57%
(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 1.65%, 1.82% and 1.71% for the three months ended December 31, 2019, September 30, 2019 and December 31, 2018, respectively.
(5) Non-GAAP tax-equivalent basis, using an estimated marginal tax rate of 26% for the three months ended December 31, 2019, September 30, 2019 and December 31, 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
AVERAGE BALANCE SHEET / NET INTEREST MARGIN - UNAUDITED
(Dollars in thousands)
	Twelve Months Ended
	December 31, 2019			December 31, 2018
	Average Balance		Average Yield or Cost (%)	Average Balance		Average Yield or Cost (%)
Assets
Interest earning deposits	$	103,833	2.68%	$	217,168	1.90%
Investment securities (1)	653,694		3.63%	1,005,688		3.30%
Loans and leases:
Commercial loans to mortgage companies	1,799,489		4.58%	1,610,168		4.92%
Multi-family loans	2,982,185		3.87%	3,549,511		3.82%
Commercial and industrial loans and leases (2)	2,111,181		5.08%	1,743,696		4.72%
Non-owner occupied commercial real estate loans	1,243,236		4.53%	1,257,545		4.32%
Residential mortgages	694,889		4.15%	497,772		4.05%
Other consumer loans	445,166		9.28%	20,028		8.78%
Total loans and leases (3)	9,276,146		4.65%	8,678,720		4.30%
Other interest-earning assets	90,035		6.39%	110,223		6.71%
Total interest-earning assets	10,123,708		4.58%	10,011,799		4.17%
Non-interest-earning assets	543,962			406,303
Total assets	$	10,667,670		$	10,418,102
Liabilities
Interest checking accounts	$	955,630	1.82%	$	630,335	1.49%
Money market deposit accounts	3,151,328		2.18%	3,417,779		1.77%
Other savings accounts	538,375		2.12%	135,994		1.67%
Certificates of deposit	1,943,361		2.26%	2,066,896		1.87%
Total interest-bearing deposits (4)	6,588,694		2.15%	6,251,004		1.77%
Borrowings	1,523,171		2.95%	1,951,921		2.52%
Total interest-bearing liabilities	8,111,865		2.30%	8,202,925		1.95%
Non-interest-bearing deposits (4)	1,430,149			1,189,638
Total deposits and borrowings	9,542,014		1.95%	9,392,563		1.70%
Other non-interest-bearing liabilities	126,325			83,563
Total liabilities	9,668,339			9,476,126
Shareholders' equity	999,331			941,976
Total liabilities and shareholders' equity	$	10,667,670		$	10,418,102
Interest spread			2.63%			2.47%
Net interest margin			2.74%			2.58%
Net interest margin tax equivalent (5)			2.75%			2.58%
(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 1.76% and 1.49% for the twelve months ended December 31, 2019 and December 31, 2018, respectively.
(5) Non-GAAP tax-equivalent basis, using an estimated marginal tax rate of 26% for both the year ended December 31, 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.

14

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 twelve months ended December 31, 2019 and 2018:

	Three Months Ended December 31, 2019						Three Months Ended December 31, 2018
	Customers Bank Business Banking		BankMobile		Consolidated		Customers Bank Business Banking		BankMobile		Consolidated
Interest income (1)	$	112,212	$	11,783	$	123,995	$	98,129	$	5,174	$	103,303
Interest expense	46,111		291		46,402		41,592		187		41,779
Net interest income	66,101		11,492		77,593		56,537		4,987		61,524
Provision for loan and lease losses	6,846		2,843		9,689		(200)		1,585		1,385
Non-interest income	14,964		10,849		25,813		9,352		10,525		19,877
Non-interest expense	41,494		17,246		58,740		38,778		18,267		57,045
Income (loss) before income tax expense (benefit)	32,725		2,252		34,977		27,311		(4,340)		22,971
Income tax expense (benefit)	6,892		559		7,451		6,175		(1,066)		5,109
Net income (loss)	25,833		1,693		27,526		21,136		(3,274)		17,862
Preferred stock dividends	3,615		—		3,615		3,615		—		3,615
Net income (loss) available to common shareholders	$	22,218	$	1,693	$	23,911	$	17,521	$	(3,274)	$	14,247
Basic earnings (loss) per common share	$	0.71	$	0.05	$	0.76	$	0.55	$	(0.10)	$	0.45
Diluted earnings (loss) per common share	$	0.70	$	0.05	$	0.75	$	0.55	$	(0.10)	$	0.44

(1) Amounts reported include funds transfer pricing of $0.7 million and $3.8 million for the three months ended December 31, 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.

15

	Twelve Months Ended December 31, 2019						Twelve Months Ended December 31, 2018
	Customers Bank Business Banking		BankMobile		Consolidated		Customers Bank Business Banking		BankMobile		Consolidated
Interest income (2)	$	422,094	$	41,645	$	463,739	$	400,948	$	17,003	$	417,951
Interest expense	185,513		916		186,429		159,674		400		160,074
Net interest income	236,581		40,729		277,310		241,274		16,603		257,877
Provision for loan and lease losses	10,091		14,136		24,227		2,928		2,714		5,642
Non-interest income	35,268		45,670		80,938		17,499		41,499		58,998
Non-interest expense	153,333		78,568		231,901		146,946		73,233		220,179
Income (loss) before income tax expense (benefit)	108,425		(6,305)		102,120		108,899		(17,845)		91,054
Income tax expense (benefit)	24,215		(1,422)		22,793		23,742		(4,383)		19,359
Net income (loss)	84,210		(4,883)		79,327		85,157		(13,462)		71,695
Preferred stock dividends	14,459		—		14,459		14,459		—		14,459
Net income (loss) available to common shareholders	$	69,751	$	(4,883)	$	64,868	$	70,698	$	(13,462)	$	57,236
Basic earnings (loss) per common share	$	2.24	$	(0.16)	$	2.08	$	2.24	$	(0.43)	$	1.81
Diluted earnings (loss) per common share	$	2.20	$	(0.15)	$	2.05	$	2.19	$	(0.42)	$	1.78
As of December 31, 2019 and 2018
Goodwill and other intangibles	$	3,629	$	11,566	$	15,195	$	3,629	$	12,870	$	16,499
Total assets (3)	$	10,990,550	$	530,167	$	11,520,717	$	9,688,146	$	145,279	$	9,833,425
Total deposits	$	8,247,836	$	401,100	$	8,648,936	$	6,766,378	$	375,858	$	7,142,236
Total non-deposit liabilities (3)	$	1,789,329	$	29,657	$	1,818,986	$	1,719,225	$	15,148	$	1,734,373

(2) Amounts reported include funds transfer pricing of $8.8 million and $15.7 million for the twelve months ended December 31, 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.

16

The following tables present Customers' business segment results for the quarter ended December 31, 2019, the preceding four quarters, and the twelve months ended December 31, 2019 and 2018, respectively:

Customers Bank Business Banking:											Twelve Months Ended December 31,
	Q4 2019		Q3 2019		Q2 2019		Q1 2019		Q4 2018		2019		2018
Interest income (1)	$	112,212	$	113,995	$	103,014	$	92,871	$	98,129	$	422,094	$	400,948
Interest expense	46,111		50,734		47,061		41,605		41,592		185,513		159,674
Net interest income	66,101		63,261		55,953		51,266		56,537		236,581		241,274
Provision for loan and lease losses	6,846		2,475		(2,206)		2,976		(200)		10,091		2,928
Non-interest income (loss)	14,964		11,757		970		7,577		9,352		35,268		17,499
Non-interest expense	41,494		38,347		38,107		35,384		38,778		153,333		146,946
Income before income tax expense	32,725		34,196		21,022		20,483		27,311		108,425		108,899
Income tax expense	6,892		7,814		4,629		4,880		6,175		24,215		23,742
Net income	25,833		26,382		16,393		15,603		21,136		84,210		85,157
Preferred stock dividends	3,615		3,615		3,615		3,615		3,615		14,459		14,459
Net income available to common shareholders	$	22,218	$	22,767	$	12,778	$	11,988	$	17,521	$	69,751	$	70,698
Basic earnings per common share	$	0.71	$	0.73	$	0.41	$	0.39	$	0.55	$	2.24	$	2.24
Diluted earnings per common share	$	0.70	$	0.72	$	0.40	$	0.38	$	0.55	$	2.20	$	2.19

(1) Amounts reported include funds transfer pricing of $0.7 million, $0.3 million, $2.2 million, $5.6 million and $3.8 million for the three months ended December 31, 2019, September 30, 2019, June 30, 2019, March 31, 2019, and December 31, 2018, respectively. Amounts reported also include funds transfer pricing of $8.8 million and $15.7 million for the twelve months ended December 31, 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:											Twelve Months Ended December 31,
	Q4 2019		Q3 2019		Q2 2019		Q1 2019		Q4 2018		2019		2018
Interest income (2)	$	11,783	$	12,723	$	8,936	$	8,204	$	5,174	$	41,645	$	17,003
Interest expense	291		249		210		166		187		916		400
Net interest income	11,492		12,474		8,726		8,038		4,987		40,729		16,603
Provision for loan and lease losses	2,843		1,951		7,552		1,791		1,585		14,136		2,714
Non-interest income	10,849		11,612		11,066		12,141		10,525		45,670		41,499
Non-interest expense	17,246		21,245		21,475		18,600		18,267		78,568		73,233
Loss before income tax expense or benefit	2,252		890		(9,235)		(212)		(4,340)		(6,305)		(17,845)
Income tax benefit	559		206		(2,138)		(49)		(1,066)		(1,422)		(4,383)
Net loss available to common shareholders	$	1,693	$	684	$	(7,097)	$	(163)	$	(3,274)	$	(4,883)	$	(13,462)
Basic loss per common share	$	0.05	$	0.02	$	(0.23)	$	(0.01)	$	(0.10)	$	(0.16)	$	(0.43)
Diluted loss per common share	$	0.05	$	0.02	$	(0.22)	$	(0.01)	$	(0.10)	$	(0.15)	$	(0.42)
Deposit balances (3)
Disbursements business deposits	$	319,263	$	598,064	$	409,683	$	615,710	$	370,690
White label deposits	81,837		67,541		46,514		11,046		5,168
Total deposits	$	401,100	$	665,605	$	456,197	$	626,756	$	375,858

(2) Amounts reported include funds transfer pricing of $0.7 million, $0.3 million, $2.2 million, $5.6 million and $3.8 million for the three months ended December 31, 2019, September 30, 2019, June 30, 2019, March 31, 2019, and December 31, 2018, respectively. Amounts reported also include funds transfer pricing of $8.8 million and $15.7 million for the twelve months ended December 31, 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 December 31, 2019, September 30, 2019, June 30, 2019, March 31, 2019, and December 31, 2018.

17

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
PERIOD END LOAN AND LEASE COMPOSITION - UNAUDITED
(Dollars in thousands)
	December 31,		September 30,		June 30,		March 31,		December 31,
	2019		2019		2019		2019		2018
Commercial:
Multi-family	$	2,392,146	$	2,800,018	$	3,017,531	$	3,212,312	$	3,285,297
Mortgage warehouse	2,305,953		2,549,286		2,054,307		1,535,343		1,461,810
Commercial & industrial	2,381,792		2,252,843		2,131,790		1,983,081		1,894,887
Commercial real estate non-owner occupied	1,223,529		1,268,557		1,176,575		1,107,336		1,125,106
Construction	118,418		61,200		59,811		53,372		56,491
Total commercial loans and leases	8,421,838		8,931,904		8,440,014		7,891,444		7,823,591
Consumer:
Residential	378,470		631,866		654,556		626,668		568,068
Manufactured housing	70,398		72,616		75,597		77,778		79,731
Other consumer	1,178,283		643,553		552,839		153,153		74,035
Total consumer loans	1,627,151		1,348,035		1,282,992		857,599		721,834
Deferred (fees)/costs and unamortized (discounts)/premiums, net	2,085		(2,318)		(1,663)		(3,197)		(424)
Total loans and leases	$	10,051,074	$	10,277,621	$	9,721,343	$	8,745,846	$	8,545,001

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
PERIOD END DEPOSIT COMPOSITION - UNAUDITED
(Dollars in thousands)
	December 31,		September 30,		June 30,		March 31,		December 31,
	2019		2019		2019		2019		2018
Demand, non-interest bearing	$	1,343,391	$	1,569,918	$	1,380,698	$	1,372,358	$	1,122,171
Demand, interest bearing	1,235,292		1,139,675		925,180		811,490		803,948
Savings	919,214		591,336		529,532		417,346		384,545
Money market	3,482,505		3,201,883		2,912,266		3,265,823		3,097,391
Time deposits	1,668,534		2,422,873		2,438,101		1,558,301		1,734,181
Total deposits	$	8,648,936	$	8,925,685	$	8,185,777	$	7,425,318	$	7,142,236

18

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
ASSET QUALITY - UNAUDITED
(Dollars in thousands)	As of December 31, 2019										As of September 30, 2019										As of December 31, 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	$	1,909,274	$	4,117	$	6,157	0.22	%	149.55	%	$	2,300,244	$	—	$	7,498	—	%	—	%	$	3,285,297	$	1,155	$	11,462	0.04	%	992.38	%
Commercial & industrial (1)	2,441,987		6,494		17,791		0.27	%	273.96	%	2,363,599		7,382		18,765		0.31	%	254.20	%	1,951,277		18,801		15,465		0.96	%	82.26	%
Commercial real estate non-owner occupied	1,223,529		76		6,243		0.01	%	8214.47	%	1,268,557		83		6,440		0.01	%	7759.04	%	1,125,106		129		6,093		0.01	%	4723.26	%
Construction	118,418		—		1,262		—	%	—	%	61,200		—		658		—	%	—	%	56,491		—		624		—	%	—	%
Total commercial loans and leases receivable	5,693,208		10,687		31,453		0.19	%	294.31	%	5,993,600		7,465		33,361		0.12	%	446.90	%	6,418,171		20,085		33,644		0.31	%	167.51	%
Residential	375,014		6,128		3,218		1.63	%	52.51	%	628,786		6,093		4,083		0.97	%	67.01	%	566,561		5,605		3,654		0.99	%	65.19	%
Manufactured housing	70,398		1,655		1,178		2.35	%	71.18	%	72,616		1,567		1,051		2.16	%	67.07	%	79,731		1,693		633		2.12	%	37.39	%
Other consumer	1,178,283		1,551		20,648		0.13	%	1331.27	%	643,553		1,140		12,582		0.18	%	1103.68	%	74,035		111		2,529		0.15	%	2278.38	%
Total consumer loans receivable	1,623,695		9,334		25,044		0.57	%	268.31	%	1,344,955		8,800		17,716		0.65	%	201.32	%	720,327		7,409		6,816		1.03	%	92.00	%
Deferred (fees) costs and unamortized (discounts) premiums, net	2,085		—		—		—	%	—	%	(2,318)		—		—		—	%	—	%	(424)		—		—		—	%	—	%
Loans and leases receivable	7,318,988		20,021		56,497		0.27	%	282.19	%	7,336,237		16,265		51,077		0.22	%	314.03	%	7,138,074		27,494		40,460		0.39	%	147.16	%
Loans receivable, mortgage warehouse, at fair value	2,245,758		—		—		—	%	—	%	2,438,530		—		—		—	%	—	%	1,405,420		—		—		—	%	—	%
Total loans held for sale	486,328		1,325		—		0.27	%	—	%	502,854		1,325		—		0.26	%	—	%	1,507		—		—		—	%	—	%
Total portfolio	$	10,051,074	$	21,346	$	56,497	0.21	%	264.67	%	$	10,277,621	$	17,590	$	51,077	0.17	%	290.38	%	$	8,545,001	$	27,494	$	40,460	0.32	%	147.16	%
(1) Commercial & industrial loans, including owner occupied commercial real estate loans.

19

CUSTOMERS BANCORP, INC. AND SUBSIDIARIES
NET CHARGE-OFFS/(RECOVERIES) - UNAUDITED
(Dollars in thousands)											Twelve Months Ended December 31,
	Q4		Q3		Q2		Q1		Q4
	2019		2019		2019		2019		2018		2019		2018
Loan type
Multi-family	$	—	$	—	$	(7)	$	541	$	—	$	534	$	—
Commercial & industrial (1)	(225)		15		(186)		(239)		1,457		(635)		1,740
Commercial real estate non-owner occupied	(8)		(8)		(114)		(6)		(10)		(136)		(246)
Residential	181		(5)		61		33		52		270		390
Other consumer	4,414		1,759		883		731		655		7,787		1,801
Total net charge-offs (recoveries) from loans held for investment	$	4,362	$	1,761	$	637	$	1,060	$	2,154	$	7,820	$	3,685
(1) Commercial & industrial loans, including owner occupied commercial real estate.

20

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																					Twelve Months Ended December 31,
	Q4 2019				Q3 2019				Q2 2019				Q1 2019				Q4 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	$	23,911	$	0.75	$	23,451	$	0.74	$	5,681	$	0.18	$	11,825	$	0.38	$	14,247	$	0.44	$	64,868	$	2.05	$	57,236	$	1.78
Reconciling items (after tax):
Severance expense	—		—		—		—		373		0.01		—		—		1,421		0.04		373		0.01		1,421		0.04
Loss upon acquisition of interest-only GNMA securities	—		—		—		—		5,682		0.18		—		—		—		—		5,682		0.18		—		—
Merger and acquisition related expenses	76		—		—		—		—		—		—		—		355		0.01		76		—		3,312		0.10
Losses on sale of multi-family loans	—		—		—		—		—		—		—		—		868		0.03		—		—		868		0.03
Legal reserves	—		—		1,520		0.05		—		—		—		—		—		—		1,520		0.05		—		—
(Gains) losses on investment securities	(310)		(0.01)		(1,947)		(0.06)		347		0.01		(2)		—		101		—		(1,912)		(0.06)		15,646		0.49
Losses on sale of non-QM residential mortgage loans	595		0.02		—		—		—		—		—		—		—		—		595		0.02		—		—
Core earnings	$	24,272	$	0.76	$	23,024	$	0.73	$	12,083	$	0.38	$	11,823	$	0.38	$	16,992	$	0.53	$	71,202	$	2.25	$	78,483	$	2.43

21

Core Return on Average Assets - Customers Bancorp																Twelve Months Ended December 31,
(dollars in thousands except per share data)	Q4 2019			Q3 2019			Q2 2019			Q1 2019			Q4 2018			2019			2018
GAAP net income	$	27,526		$	27,066		$	9,296		$	15,440		$	17,862		$	79,327		$	71,695
Reconciling items (after tax):
Severance expense	—			—			373			—			1,421			373			1,421
Loss upon acquisition of interest-only GNMA securities	—			—			5,682			—			—			5,682			—
Merger and acquisition related expenses	76			—			—			—			355			76			3,312
Losses on sale of multi-family loans	—			—			—			—			868			—			868
Legal reserves	—			1,520			—			—			—			1,520			—
(Gains) losses on investment securities	(310)			(1,947)			347			(2)			101			(1,912)			15,646
Losses on sale of non-QM residential mortgage loans	595			—			—			—			—			595			—
Core net income	$	27,887		$	26,639		$	15,698		$	15,438		$	20,607		$	85,661		$	92,942
Average total assets	$	11,257,207		$	11,259,144		$	10,371,842		$	9,759,529		$	9,947,367		$	10,667,670		$	10,418,102
Core return on average assets	0.98		%	0.94		%	0.61		%	0.64		%	0.82		%	0.80		%	0.89		%

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																Twelve Months Ended December 31,
(dollars in thousands except per share data)	Q4 2019			Q3 2019			Q2 2019			Q1 2019			Q4 2018			2019			2018
GAAP net income	$	27,526		$	27,066		$	9,296		$	15,440		$	17,862		$	79,327		$	71,695
Reconciling items:
Income tax expense	7,451			8,020			2,491			4,831			5,109			22,793			19,359
Provision for loan and lease losses	9,689			4,426			5,346			4,767			1,385			24,227			5,642
Severance expense	—			—			490			—			1,869			490			1,869
Loss upon acquisition of interest-only GNMA securities	—			—			7,476			—			—			7,476			—
Merger and acquisition related expenses	100			—			—			—			470			100			4,391
Losses on sale of multi-family loans	—			—			—			—			1,161			—			1,161
Legal reserves	—			2,000			—			—			—			2,000			—
(Gains) losses on investment securities	(310)			(2,334)			347			(2)			101			(2,300)			20,293
Losses on sale of non-QM residential mortgage loans	782			—			—			—			—			782			—
Adjusted net income - pre-tax pre-provision	$	45,238		$	39,178		$	25,446		$	25,036		$	27,957		$	134,895		$	124,410
Average total assets	$	11,257,207		$	11,259,144		$	10,371,842		$	9,759,529		$	9,947,367		$	10,667,670		$	10,418,102
Adjusted ROAA - pre-tax pre-provision	1.59		%	1.38		%	0.98		%	1.04		%	1.12		%	1.26		%	1.19		%

22

Core Return on Average Common Equity - Customers Bancorp																Twelve Months Ended December 31,
(dollars in thousands except per share data)	Q4 2019			Q3 2019			Q2 2019			Q1 2019			Q4 2018			2019			2018
GAAP net income to common shareholders	$	23,911		$	23,451		$	5,681		$	11,825		$	14,247		$	64,868		$	57,236
Reconciling items (after tax):
Severance expense	—			—			373			—			1,421			373			1,421
Loss upon acquisition of interest-only GNMA securities	—			—			5,682			—			—			5,682			—
Merger and acquisition related expenses	76			—			—			—			355			76			3,312
Losses on sale of multi-family loans	—			—			—			—			868			—			868
Legal reserves	—			1,520			—			—			—			1,520			—
(Gains) losses on investment securities	(310)			(1,947)			347			(2)			101			(1,912)			15,646
Losses on sale of non-QM residential mortgage loans	595			—			—			—			—			595			—
Core earnings	$	24,272		$	23,024		$	12,083		$	11,823		$	16,992		$	71,202		$	78,483
Average total common shareholders' equity	$	819,018		$	787,885		$	768,592		$	751,133		$	745,226		$	781,860		$	724,505
Core return on average common equity	11.76		%	11.59		%	6.31		%	6.38		%	9.05		%	9.11		%	10.83		%

23

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																Twelve Months Ended December 31,
(dollars in thousands except per share data)	Q4 2019			Q3 2019			Q2 2019			Q1 2019			Q4 2018			2019			2018
GAAP net income to common shareholders	$	23,911		$	23,451		$	5,681		$	11,825		$	14,247		$	64,868		$	57,236
Reconciling items:
Income tax expense	7,451			8,020			2,491			4,831			5,109			22,793			19,359
Provision for loan and lease losses	9,689			4,426			5,346			4,767			1,385			24,227			5,642
Severance expense	—			—			490			—			1,869			490			1,869
Loss upon acquisition of interest-only GNMA securities	—			—			7,476			—			—			7,476			—
Merger and acquisition related expenses	100			—			—			—			470			100			4,391
Losses on sale of multi-family loans	—			—			—			—			1,161			—			1,161
Legal reserves	—			2,000			—			—			—			2,000			—
(Gains) losses on investment securities	(310)			(2,334)			347			(2)			101			(2,300)			20,293
Losses on sale of non-QM residential mortgage loans	782			—			—			—			—			782			—
Pre-tax pre-provision adjusted net income available to common shareholders	$	41,623		$	35,563		$	21,831		$	21,421		$	24,342		$	120,436		$	109,951
Average total common shareholders' equity	$	819,018		$	787,885		$	768,592		$	751,133		$	745,226		$	781,860		$	724,505
Adjusted ROCE - pre-tax pre-provision	20.16		%	17.91		%	11.39		%	11.57		%	12.96		%	15.40		%	15.18		%

Net Interest Margin, Tax Equivalent - Customers Bancorp																Twelve Months Ended December 31,
(dollars in thousands except per share data)	Q4 2019			Q3 2019			Q2 2019			Q1 2019			Q4 2018			2019			2018
GAAP net interest income	$	77,593		$	75,735		$	64,679		$	59,304		$	61,524		$	277,310		$	257,877
Tax-equivalent adjustment	187			184			183			181			171			735			685
Net interest income tax equivalent	$	77,780		$	75,919		$	64,862		$	59,485		$	61,695		$	278,045		$	258,562
Average total interest earning assets	$	10,676,730		$	10,667,198		$	9,851,150		$	9,278,413		$	9,518,120		$	10,123,708		$	10,011,799
Net interest margin, tax equivalent	2.89		%	2.83		%	2.64		%	2.59		%	2.57		%	2.75		%	2.58		%

24

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																Twelve Months Ended December 31,
(dollars in thousands except per share data)	Q4 2019			Q3 2019			Q2 2019			Q1 2019			Q4 2018			2019			2018
GAAP net interest income	$	77,593		$	75,735		$	64,679		$	59,304		$	61,524		$	277,310		$	257,877
GAAP non-interest income	$	25,813		$	23,369		$	12,036		$	19,718		$	19,877		$	80,938		$	58,998
Loss upon acquisition of interest-only GNMA securities	—			—			7,476			—			—			7,476			—
(Gains) losses on investment securities	(310)			(2,334)			347			(2)			101			(2,300)			20,293
Losses on sale of multi-family loans	—			—			—			—			1,161			—			1,161
Losses on sale of non-QM residential mortgage loans	782			—			—			—			—			782			—
Core non-interest income	26,285			21,035			19,859			19,716			21,139			86,896			80,452
Core revenue	$	103,878		$	96,770		$	84,538		$	79,020		$	82,663		$	364,206		$	338,329
GAAP non-interest expense	$	58,740		$	59,592		$	59,582		$	53,984		$	57,045		$	231,901		$	220,179
Severance expense	—			—			(490)			—			(1,869)			(490)			(1,869)
Legal reserves	—			(2,000)			—			—			—			(2,000)			—
Merger and acquisition related expenses	(100)			—			—			—			(470)			(100)			(4,391)
Core non-interest expense	$	58,640		$	57,592		$	59,092		$	53,984		$	54,706		$	229,311		$	213,919
Core efficiency ratio (1)	56.45		%	59.51		%	69.90		%	68.32		%	66.18		%	62.96		%	63.23		%

(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)	Q4 2019			Q3 2019			Q2 2019			Q1 2019			Q4 2018
GAAP - Total shareholders' equity	$	1,052,795		$	1,019,150		$	991,405		$	978,373		$	956,816
Reconciling items:
Preferred stock	(217,471)			(217,471)			(217,471)			(217,471)			(217,471)
Goodwill and other intangibles	(15,195)			(15,521)			(15,847)			(16,173)			(16,499)
Tangible common equity	$	820,129		$	786,158		$	758,087		$	744,729		$	722,846
Total assets	$	11,520,717		$	11,723,790		$	11,182,427		$	10,143,894		$	9,833,425
Reconciling items:
Goodwill and other intangibles	(15,195)			(15,521)			(15,847)			(16,173)			(16,499)
Tangible assets	$	11,505,522		$	11,708,269		$	11,166,580		$	10,127,721		$	9,816,926
Tangible common equity to tangible assets	7.13		%	6.71		%	6.79		%	7.35		%	7.36		%

25

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 share and per share data)	Q4 2019		Q3 2019		Q2 2019		Q1 2019		Q4 2018
GAAP - Total shareholders' equity	$	1,052,795	$	1,019,150	$	991,405	$	978,373	$	956,816
Reconciling Items:
Preferred stock	(217,471)		(217,471)		(217,471)		(217,471)		(217,471)
Goodwill and other intangibles	(15,195)		(15,521)		(15,847)		(16,173)		(16,499)
Tangible common equity	$	820,129	$	786,158	$	758,087	$	744,729	$	722,846
Common shares outstanding	31,336,791		31,245,776		31,202,023		31,131,247		31,003,028
Tangible book value per common share	$	26.17	$	25.16	$	24.30	$	23.92	$	23.32

Tangible Book Value per Common Share - CAGR - Customers Bancorp
(dollars in thousands except share and per share data)	Q4 2019			Q4 2018		Q4 2017		Q4 2016		Q4 2015		Q4 2014
GAAP - Total shareholders' equity	$	1,052,795		$	956,816	$	920,964	$	855,872	$	553,902	$	443,145
Reconciling Items:
Preferred stock	(217,471)			(217,471)		(217,471)		(217,471)		(55,569)		—
Goodwill and other intangibles	(15,195)			(16,499)		(16,295)		(17,621)		(3,651)		(3,664)
Tangible common equity	$	820,129		$	722,846	$	687,198	$	620,780	$	494,682	$	439,481
Common shares outstanding	31,336,791			31,003,028		31,382,503		30,289,917		26,901,801		26,745,529
Tangible book value per common share	$	26.17		$	23.32	$	21.90	$	20.49	$	18.39	$	16.43
CAGR	9.76		%

26

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																					Twelve Months Ended December 31,
	Q4 2019				Q3 2019				Q2 2019				Q1 2019				Q4 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	$	22,218	$	0.70	$	22,767	$	0.72	$	12,778	$	0.40	$	11,988	$	0.38	$	17,521	$	0.55	$	69,751	$	2.20	$	70,698	$	2.19
Reconciling items (after tax):
Severance expense	—		—		—		—		359		0.01		—		—		1,421		0.04		359		0.01		1,421		0.04
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		—		—		868		0.03
Legal reserves	—		—		760		0.02		—		—		—		—		—		—		760		0.02		—		—
(Gains) losses on investment securities	(310)		(0.01)		(1,947)		(0.06)		347		0.01		(2)		—		101		—		(1,912)		(0.06)		15,646		0.49
Losses on sale of non-QM residential mortgage loans	595		0.02		—		—		—		—		—		—		—		—		595		0.02		—		—
Core earnings	$	22,503	$	0.71	$	21,580	$	0.68	$	19,166	$	0.61	$	11,986	$	0.38	$	19,911	$	0.62	$	75,235	$	2.38	$	88,633	$	2.75

Core Earnings (Loss) - BankMobile Segment																					Twelve Months Ended December 31,
	Q4 2019				Q3 2019				Q2 2019				Q1 2019				Q4 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	$	1,693	$	0.05	$	684	$	0.02	$	(7,097)	$	(0.22)	$	(163)	$	(0.01)	$	(3,274)	$	(0.10)	$	(4,883)	$	(0.15)	$	(13,462)	$	(0.42)
Reconciling items (after tax):
Severance expense	—		—		—		—		13		—		—		—		—		—		13		—		—		—
Legal reserves	—		—		760		0.02		—		—		—		—		—		—		760		0.02		—		—
Merger and acquisition related expenses	76		—		—		—		—		—		—		—		355		0.01		76		—		3,312		0.10
Core loss	$	1,769	$	0.06	$	1,444	$	0.05	$	(7,084)	$	(0.22)	$	(163)	$	(0.01)	$	(2,919)	$	(0.09)	$	(4,034)	$	(0.13)	$	(10,150)	$	(0.31)

27

EX-99.2

Q4 2019 Earnings Call Presentation January 23, 2020 NYSE: CUBI Member FDIC

Forward-Looking Statements This presentation, as well as other written or oral communications made from time to time by us, contains forward‐looking information within the meaning of the safe harbor provisions of   the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to future events or future predictions, including events or predictions relating to future financial   performance, and are generally identifiable by the use of forward‐looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “plan,” “intend,” or “anticipate” or the negative   thereof or comparable terminology. Forward‐ looking statements in this presentation include, among other matters, guidance for our financial performance, and our financial performance   targets. Forward‐looking statements reflect numerous assumptions, estimates and forecasts as to future events. No assurance can be given that the assumptions, estimates and forecasts   underlying such forward‐looking statements will accurately reflect future conditions, or that any guidance, goals, targets or projected results will be realized. The assumptions, estimates and  forecasts underlying such forward‐looking statements involve judgments with respect to, among other things, future economic, competitive, regulatory and financial market conditions and  future business decisions, which may not be realized and which are inherently subject to significant business, economic, competitive and regulatory uncertainties and known and  unknown  risks, including the risks described under “Risk Factors” in our Annual Report on Form 10‐K for the year ended December 31, 2018 and subsequent Quarterly Reports on Form  10‐Qand  current reports on Form 8‐K, including any amendments thereto, as such factors may be updated from time to time in our filings with the SEC. Our actual results may differ materially from  those reflected in the forward‐looking statements. In addition to the risks described under “Risk Factors” in our filings with the SEC, important factors to consider and evaluate with respect to our forward‐looking statements include: • changes in external competitive market factors that might impact our results of operations; • changes in laws and regulations, including without limitation, changes in capital requirements under Basel III; • the potential effects of heightened regulatory requirements applicable to banks with assets in excess of $10 billion; • changes in our business strategy or an inability to execute our strategy due to the occurrence of unanticipated events; • our ability to identify potential candidates for, and consummate, acquisition or investment transactions; • the timing of acquisition, investment or disposition transactions; • constraints on our ability to consummate an attractive acquisition or investment transaction because of significant competition for these opportunities; • local, regional and national economic conditions and events and the impact they may have on us and our customers; • costs and effects of regulatory and legal developments, including the results of regulatory examinations and the outcome of regulatory or other governmental inquiries and proceedings,   such as fines or restrictions on our business activities; • our ability to attract deposits and other sources of liquidity; • changes in the financial performance and/or condition of our borrowers; • changes in the level of non‐performing and classified assets and charge‐offs; • changes in estimates of future loan loss reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements, including the adoption of  the Current Expected Credit Losses standard; • inflation, interest rate, securities market and monetary fluctuations, including the discontinuance of LIBOR; • timely development and acceptance of new banking products and services and perceived overall value of these products and services by users, including the  products and services  being developed and introduced to the market by the BankMobile division of Customers Bank; • changes in consumer spending, borrowing and saving habits; • technological changes; • our ability to increase market share and control expenses; • continued volatility in the credit and equity markets and its effect on the general economy; • effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, the Financial Accounting Standards Board and other accounting standard setters; • the businesses of Customers Bank and any acquisition targets or merger partners and subsidiaries not integrating successfully or such integration being more  difficult, time‐consuming  or costly than expected; 2

Forward-Looking Statements (Cont.) • material differences in the actual financial results of merger and acquisition activities compared with our expectations, such as with respect to the full realization  of anticipated cost savings  and revenue enhancements within the expected time frame; • our ability to successfully implement our growth strategy, control expenses and maintain liquidity; • Customers Bank's ability to pay dividends to Customers Bancorp; • risks relating to BankMobile, including: • 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 causing Customers Bancorp's actual results to differ from those in the forward‐ looking statements; • our ability to successfully complete a divestiture of BankMobile and the timing of completion; • the ability of Customers and an acquirer of BankMobile to meet all of the conditions to completion of the proposed divestiture; • our ability to execute on our White Label strategy to grow demand deposits through strategic partnerships; • material variances in the adoption rate of BankMobile's services by new students • the usage rate of BankMobile's services by current student customers compared to our expectations; • the levels of usage of other BankMobile student customers following graduation of additional product and service offerings of BankMobile or Customers Bank,  including mortgages  and consumer loans, and the mix of products and services used; • our ability to implement changes to BankMobile's product and service offerings under current and future regulations and governmental policies; • our ability to effectively manage revenue and expense fluctuations that may occur with respect to BankMobile's student‐oriented business activities, which  result from seasonal  factors related to the higher‐education academic year; and • BankMobile's ability to successfully implement its growth strategy and control expenses. • risks related to planned changes in our balance sheet, including: • our ability to reduce the size of our multi‐family loan portfolio; • our ability to execute our digital distribution strategy; • our ability to manage the risk of change in our loan mix to include a greater proportion of consumer loans; and • our ability to earn increased net interest income to recover reduced interchange income due to the loss of the small issuer exemption to the Durbin Amendment.  You are cautioned not to place undue reliance on any forward‐looking statements we make, which speak only as of the date they are made. We do not undertake any  obligation to release  publicly or otherwise provide any revisions to any forward‐looking statements we may make, including any forward‐looking financial information, to  reflect events or circumstances occurring  after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable law. This presentation shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of  securities in any  jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such  jurisdiction. 3

Q4 2019 Highlights • Net income to common shareholders of $23.9 million, or $0.75 per diluted share, in Q4 2019, up 70% year-over-year • Increase in net income to common shareholders of $10 million compared to Q4 2018. • FY 2019 net income to common shareholders of $64.9 million, or $2.05 per diluted share, an increase of $8 million compared to FY 2018. • Q4 2019 ROAA of 0.97%, up from 0.71% in Q4 2018. Adjusted ROAA - pre-tax and pre-provision(1) for Q4 2019 was 1.59%. • Net interest margin, tax equivalent(1) (“NIM”), expanded 6 basis points during the quarter to 2.89% • FY 2019 NIM of 2.75%, an expansion of 17 basis points from FY 2018. • Total deposits grew 21% year-over-year; DDA’s grew 34% year-over-year • Loan mix improved • Strong C&I loan growth; 26% year-over-year and 6% during Q4 2019. • Commercial loans to mortgage companies increased $844 million, or 58%, year-over-year, but did have a seasonal decline of $243 million, or 10%, during Q4 2019. • Other consumer loans increased $1.1 billion year-over-year and $570 million during Q4 2019. None of the consumer loans are subprime loans(2). The average FICO score of the consumer loans at origination is 744. Consumer loans are performing at or better than expectations. • Multi-family loans declined, as planned, 27% year-over-year and 15% during Q4 2019. • Non-interest expenses decreased $0.8 million during Q4 2019 with significant improvement in efficiency ratios • Q4 2019 efficiency ratio of 56.98%, down from 69.99% in Q4 2018. • FY 2019 efficiency ratio of 65.15%, down from 65.35% in FY 2018. • BankMobile segment Q4 2019 net earnings of $0.05 per diluted share • Second consecutive quarter of BankMobile segment profitability. • FY 2019 BankMobile segment loss per diluted share of $(0.15), an improvement from loss per diluted share of $(0.42) in FY 2018. • Credit quality remains strong • Non-performing loans were only 0.21% of total loans at December 31, 2019 and reserves equaled 265% of non- performing loans. (1) A non-GAAP measure, refer to the reconciliation schedules at the end of this document (2) Customers considers sub-prime borrowers to be those with FICO scores below 660 at origination 4

Q4 2019 Profitability – Continued Improvement QoQ YoY ($ in thousands) Q4 2019 Q3 2019 Q4 2018 $ Change % Change $ Change % Change GAAP Profitability Metrics: GAAP earnings $23,911 $23,451 $14,247 $460 2% $9,664 68% Diluted EPS $0.75 $0.74 $0.44 $0.01 1% $0.31 70% ROAA 0.97% 0.95% 0.71% 0.02% 2% 0.26% 37% ROCE 11.58% 11.81% 7.58% (0.23)% (2)% 4.00% 53% Non‐GAAP Profitability Metrics(1): Core earnings $24,272 $23,024 $16,992 $1,248 5% $7,280 43% Core diluted EPS $0.76 $0.73 $0.53 $0.03 4% $0.23 43% NIM, TE 2.89% 2.83% 2.57% 0.06% 2% 0.32% 12% Adjusted ROAA Pre‐ 1.59% 1.38% 1.12% 0.21% 15% 0.47% 42% tax and Pre‐provision Core ROAA 0.98% 0.94% 0.82% 0.04% 4% 0.16% 20% Core ROCE 11.76% 11.59% 9.05% 0.17% 1% 2.71% 30% (1) Non-GAAP measures; refer to the reconciliation schedules at the end of this document 5

Q4 2019 Consolidated Results GAAP vs. Core EPS(1)  $0.80 $0.76  $0.74  $0.73  $0.75  Q4 2019 Net Income to Common Shareholders of   $0.70 $23.9 million, and Diluted Earnings Per Common  Share of $0.75.  $0.60 $0.53  •  $0.50 $0.44  $0.70 of diluted EPS from the Customers Bank  $0.38  $0.38  Business Banking segment  $0.40 $0.38   $0.30 • $0.05 of diluted EPS from the BankMobile   $0.20 $0.18  segment  $0.10  $‐  Q4 2018  Q1 2019  Q2 2019  Q3 2019  Q4 2019  GAAP EPS  Core EPS (1) Q4 2018  Q1 2019  Q2 2019  Q3 2019  Q4 2019  GAAP EPS   $                    0.44  $               0.38  $               0.18  $               0.74  $               0.75  Notable Items:  Severance  0.04 ‐0.01 ‐ ‐ Losses on sale of multi‐family loans  0.03 ‐ ‐ ‐ ‐ Merger and acquisition related expenses  0.01 ‐ ‐ ‐0.00  Loss upon acquisition of interest‐only GNMA securities ‐ ‐0.18 ‐ ‐ Legal reserves ‐ ‐ ‐0.05 ‐ Securities (gains)/losses  0.00 ‐0.01  (0.06) (0.01) Losses on sale of non‐QM loans ‐ ‐ ‐ ‐0.02  Core EPS (1)  $                    0.53  $               0.38  $               0.38  $               0.73  $               0.76  (1) A non-GAAP measure; refer to the reconciliation schedules at the end of this document 6

Q4 2019 Net Interest Margin FTE Net Interest Margin (1) $80 $75.7 $77.6 3.00% $70 2.89% $64.7 2.90% $61.5 $59.3 2.83% $60 2.80% $50 $40 2.64% 2.70% millions   in   $ $30 2.59% 2.57% 2.60% $20 2.50% $10 $0 2.40% Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Net Interest Income FTE Net Interest Margin (1) NIM(1) significantly expanded in Q4 2019 over Q4 2018: • NIM(1) expanded 6 basis points from Q3 2019 to 2.89% in Q4 2019 and up  32 basis points over Q4 2018; marking our fifth consecutive quarter of  NIM (1) expansion from the trough of 2.47% reported in Q3 2018 • Yield on interest‐earning assets decreased 11 basis points from Q3 2019  to 4.61%, but expanded 30 basis points when compared to Q4 2018 • Cost of interest‐bearing liabilities decreased 16 basis points from Q3 2019  to 2.17% and was flat when compared to Q4 2018 (1) A non‐GAAP measure; refer to the reconciliation schedules at the end of this document 7 Source: Company data

2019 Deposits: Growth In The Right Areas Deposit Growth  9.0  8.0 $2.7  7.0 $2.3 $2.6  6.0 $1.9 $2.2 Billions)   in  5.0   $3.8 ($ $3.4    4.0 $3.5 $4.4  3.0 $3.7  2.0  1.0 $2.4 $2.4 Deposits $1.7 $1.6 $1.7 Growth  ‐ Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 QoQ YoY DDA $1.9 B$2.2 B$2.3 B$2.7 B$2.6 B ‐$0.1 B ‐5% $0.7 B 34% MMKT / Savings $3.5 B$3.7 B$3.4 B$3.8 B$4.4 B $0.6 B 16% $0.9 B 26% CDs $1.7 B$1.6 B$2.4 B$2.4 B$1.7 B ‐$0.8 B ‐31% ‐$0.1 B ‐4%   Total $7.1 B$7.4 B$8.2 B$8.9 B$8.6 B ‐$0.3 B ‐3% $1.5 B 21% CDs MMKT / Savings DDA We continue to improve our funding mix as we replace higher cost funding with lower cost core deposits from BankMobile, our Digital Direct Bank, and core business units Source: Company Data Total may not sum due to rounding 8

Q4 2019 Loans Loan Growth $12 4.79% 4.62% 4.68% 5.0% 4.37% 4.48% $10 $0.6 $0.5 $1.2 4.0% $0.1 $0.1 $0.7  $0.7  $0.5  $8 $0.7  $0.7  $1.3 $1.2 $1.3 $1.2 $1.2 3.0% Loans   Billions) $2.3   on $6 $2.1   in $2.4   $1.9 $2.0 ($   2.0% Yield $4 $1.5 $1.5 $2.1 $2.5 Loans $2.3 1.0% $2 $3.3 $3.2 $3.0 $2.8 $2.4 $0 0.0% Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Consumer $0.1 B$0.1 B$0.5 B$0.6 B$1.2 B Residential Mortgage $0.7 B$0.7 B$0.7 B$0.7 B$0.5 B Non‐Owner Occupied CRE $1.2 B$1.2 B$1.2 B$1.3 B$1.3 B Commercial ‐ C&I, Owner Occupied $1.9 B$2.0 B$2.1 B$2.3 B$2.4 B Commerical ‐ Mortgage Warehouse $1.5 B$1.5 B$2.1 B$2.5 B$2.3 B Multi‐family Loans $3.3 B$3.2 B$3.0 B$2.8 B$2.4 B Total Loans $8.5 B$8.7 B$9.7 B $10.3 B$10.1 B Yield 4.37% 4.48% 4.62% 4.79% 4.68% Q4 2019 loans totaled $10.1 billion • The yield on loans decreased 11 bps from Q3 2019, due to lower interest rates, but increased 30 bps over Q4 2018 • 26% YOY growth in C&I loans and leases (excluding commercial loans to mortgage companies) • Other consumer loans increased $1.1 billion • 27% YOY decline in multi-family loans 9 Source: Company data

Q4 2019 Loans Loan Portfolio Composition Loan Growth QoQ YoY C&I Loans $0.1 B 6% $0.5 B 26% Commercial Loans to Mortgage Compa ni es ‐$0.2 B ‐10% $0.8 B 58% Multi‐Family ‐$0.4 B ‐15% ‐$0.9 B ‐27% Non‐Owner Occupied CRE $0.0 B 1% $0.1 B 12% Cons umer $0.3 B 21% $0.9 BNM Total ‐$0.2 B ‐2% $1.5 B 18% Source: Company data NM – not meaningful 10

Superior Operating Efficiency and Costs Our Customers Bank Business Banking Segment operating costs(2), as a percentage of average  assets, are at least 91 basis points lower than peers and approximately 146 basis points lower  than the industry Total Operating Costs as a % of Average Assets (1) 3.50% 3.17% 3.13% 3.08% 3.03% 2.97% 2.96% 3.00% 2.50% 2.69% 2.63% 2.52% 2.60% 2.45% 2.41% 2.00% 1.50% 1.00% 0.50% 1.75% 1.48% 1.44% 1.27% 1.42% 1.50% 0.00% 2014 2015 2016 2017 2018 2019 Industry Peer Customers Bank Business Banking (1) Source: S&P Global and Company data. Data based on Customers Bank Business Banking Segment unless labeled Consolidated. Peer data consists of Northeast and Mid-Atlantic banks and thrifts with comparable asset size and predominantly commercial business focused loan portfolios as further described in our 2019 proxy. Industry data includes all commercial and savings banks. Industry and peer data in the current YTD period is not yet available for all companies, therefore peer and industry data is as of September 30, 2019. (2) Operating costs consist of all non-interest expenses. 11

Outstanding Credit Quality Credit metrics remain better than peers NPLs to Total Loans Net Charge Offs / Average Total Loans 0.48% 0.47% 0.47% 2.25% 2.06% 0.50% 0.45% 0.45% 0.42% 1.70% 1.75% 1.55% 1.55% 0.40% 1.18% 0.30% 1.25% 1.11% 1.03% 0.92% 0.85% 0.80% 0.19% 0.73% 0.73% 0.20% 0.16% 0.15% 0.18% 0.16% 0.75% 0.15% 0.08% 0.30% 0.32% 0.10% 0.07% 0.20% 0.15% 0.22% 0.21% 0.25% 0.07% 0.19% 0.02% 0.04% 0.00% ‐0.25% 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 Industry Peer Customers Bancorp Industry Peer Customers Bancorp Note: Customers 2015 charge-offs includes 12 basis points for a $9 million fraudulent loan Source: S&P Global, Company data. Peer data consists of Northeast and Mid-Atlantic banks and thrifts with comparable asset size and predominantly commercial business focused loan portfolios as further described in our 2019 proxy. Industry data includes all commercial and savings banks. Peer and industry data as of September 30, 2019. Industry and peer data in the current YTD period is not yet available for all companies. 12

Strategic Priorities Articulated at Analyst Day in October 2018 – Summing It Up • Target ROAA of 1.25% or higher over the next 2-3 years • ROAA was 0.97% in Q4 2019, up significantly from Q4 2018 ROAA of 0.71%. • Adjusted ROAA – pre-tax and pre-provision(1) in Q4 2019 was 1.59%, up from 1.12% in Q4 2018. • Achieve NIM(1) expansion to 2.75% or greater by Q4 2019, with full year 2019 NIM above 2.70% • Actual results materially better. NIM expanded to 2.89% in Q4 2019, up from 2.83% in Q3 2019. • FY 2019 NIM was 2.75%. • Customers effectively restructured its balance sheet resulting in NIM (1) expansion of 42 bps since Q3 2018. • BankMobile segment profitability achieved by year end 2019 • BankMobile reached profitability in Q3 2019 and maintained profitability in Q4 2019. • BankMobile is expected to remain profitable in 2020. • Customers is exploring strategic options for BankMobile. • Expense control • Consolidated efficiency ratio was 56.98% in Q4 2019, down from 61.58% in Q3 2019 and 69.99% in Q4 2018. • Consolidated efficiency ratio for FY 2019 was 65.15%, down from 65.35% for FY 2018. • Growth in core deposits and good quality higher-yielding loans • DDA grew 34% year-over-year • Lower yielding multi-family loans decreased by $893 million, or 27% year-over-year and were replaced by higher yielding C&I loans and leases and other consumer loans, which had net year-over-year growth of $487 million and $1.1 billion, respectively. • Maintain strong credit quality and superior risk management • NPL were only 0.21% of total loans and leases at December 31, 2019 • Reserves to NPL at December 31, 2019 were 265%. • Bank is relatively neutral to interest rate changes at December 31, 2019. • We remain very focused on a strong Risk Management culture. • Evaluate opportunities to redeem preferred stock • Consider redeeming all preferred stock as it becomes callable (currently, dividends paid to our preferred shareholders reduce diluted earnings per share by approximately $0.46 annually). • Will continue to analyze the best ways to execute this strategy over the next two years subject to liquidity and capital needs. 13 (1) A non-GAAP measure, refer to the reconciliation schedules at the end of this document

Outlook 2020 and beyond: • Core EPS in 2020 of $3.00 • Continued profitability for the BankMobile segment, with some seasonality • Assumed annual Durbin restrictions will be effective July 1, 2020 on profit model for 2020 • Core EPS within 3 years of $4.00 and $6.00 by 2025 • Core ROAA of 1.25% or higher in 2-3 years Current Valuation Based Upon January 17, 2020 Closing Stock Price of $22.56 Price to Book 85% Price to Tangible Book 86% Price to Consensus EPS Estimate 7.94x Price to Management's Goals for 2020 7.52x 14

Contacts Company: Carla Leibold, CFO of Customers Bancorp, Inc and Customers Bank Tel: 484‐923‐8802  cleibold@customersbank.com Jay Sidhu Chairman & CEO of Customers Bancorp, Inc. and Executive  Chairman of Customers Bank Tel: 610‐935‐8693  jsidhu@customersbank.com Richard Ehst President & COO of Customers Bancorp, Inc. and CEO of Customers  Bank Tel: 610‐917‐3263 rehst@customersbank.com Sam Sidhu COO of Customers Bank & Head of Corporate Development of Customers Bancorp Tel: 212‐843‐2485  ssidhu@customersbank.com 15

BankMobile Segment Expanded Financials BankMobile Segment Income Statement ($ in 000s), Except Per Share Data Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Interest income ‐$        $          ‐ $            ‐ $            ‐ $            ‐ $               2 $                 1 $               2 $               1 $            ‐ $               2 $     1,344 $       2,590 $     6,761 $  12,383 $  11,084 Interest expense$              4 $              5 $               5 $               6 $               6 $            11 $               10 $               6 $               8 $         125 $            50 $         179 $            166 $         210 $         249 $         350 Fund transfer pricing net credit$   1,723 $   1,306 $     1,381 $     2,466 $     4,247 $     2,738 $      2,693 $     3,202 $     4,401 $     3,520 $     3,875 $     3,822 $       5,614 $     2,175 $         340 $         758 Net interest income$   1,718 $   1,301 $     1,376 $     2,460 $      4,242 $     2,727 $      2,684 $     3,197 $     4,394 $     3,394 $     3,827 $     4,987 $       8,038 $     8,726 $  12,474 $  11,492 Provision for loan losses$            (1) $            (0) $         250 $         546 $            ‐ $            ‐ $           478 $         652 $         243 $         463 $         422 $     1,585 $       1,791 $     7,552 $     1,951 $     2,843 Deposit fees$              1 $        509 $     3,916 $     2,500 $     2,803 $     1,875 $      2,338 $     1,833 $     1,805 $     1,338 $     1,691 $     1,713 $       1,910 $     2,915 $     3,185 $     3,064 Card revenue$        226 $   1,730 $  11,387 $  10,719 $  13,308 $     8,521 $      9,355 $     9,542 $     9,438 $     6,199 $     6,903 $     7,362 $       8,626 $     6,541 $     6,688 $     6,305 Other fees$              0 $        164 $     1,062 $         991 $     1,216 $     1,024 $      2,143 $         165 $     1,228 $     1,125 $     1,246 $     1,450 $       1,605 $     1,610 $     1,739 $     1,480 Total non‐interest income$        227 $   2,403 $  16,365 $  14,210 $  17,327 $  11,420 $   13,836 $  11,540 $  12,471 $     8,662 $     9,840 $  10,525 $    12,140 $  11,066 $  11,612 $  10,849 Compensation & benefits$        866 $   1,708 $      5,419 $     5,595 $     4,949 $     6,965 $      6,154 $     5,909 $     5,671 $     5,918 $     5,695 $     5,850 $       6,064 $     6,997 $     7,210 $     7,235 Occupancy$           59 $           67 $            71 $            70 $         109 $         104 $           297 $         321 $         309 $         321 $         328 $         308 $            303 $         317 $         314 $         399 Technology$        286 $   1,448 $     5,847 $     6,585 $     6,617 $     6,386 $   11,740 $     9,796 $     7,129 $     7,172 $     8,171 $     8,248 $       8,897 $     8,347 $     4,471 $     4,587 Outside services$        251 $        886 $     4,264 $     4,267 $     4,519 $     3,310 $      3,871 $     3,366 $     2,899 $     1,665 $     2,205 $     1,902 $       2,284 $     3,082 $     4,320 $     4,043 Merger related expenses$        176 $        874 $         144 $            ‐ $            ‐ $            ‐ $             ‐ $         410 $         106 $         869 $     2,945 $         470 $              ‐ $            ‐ $            ‐ $         100 Other non‐interest expenses$        397 $   1,115 $     4,178 $     3,266 $     3,025 $     3,081 $      4,988 $     1,085 $     1,835 $            85 $     1,645 $     1,959 $       1,053 $     2,732 $     4,930 $         882 Total non‐interest expense$   2,034 $   6,099 $  19,922 $  19,783 $  19,219 $  19,846 $   27,050 $  20,888 $  17,949 $  16,029 $  20,989 $  18,267 $    18,600 $  21,475 $  21,245 $  17,246 Income (loss) before income tax expense$         (88) $  (2,394) $   (2,432) $   (3,659) $     2,350 $   (5,699) $  (11,008) $   (6,803) $   (1,327) $   (4,436) $   (7,744) $   (4,340) $          (212) $   (9,235) $         890 $     2,252 Income tax expense (benefit)$         (33)$      (910) $        (924) $   (1,390) $         893 $   (2,166) $     (4,100) $   (2,563) $        (326) $   (1,090) $   (1,902) $   (1,066) $             (49) $   (2,138) $         206 $         559 Net income (loss) available to common shareholders$         (54) $  (1,484) $   (1,507) $   (2,269) $     1,457 $   (3,533) $     (6,908) $   (4,239) $   (1,001) $   (3,346) $   (5,842) $   (3,274) $          (163) $   (7,097) $         684 $     1,693 EPS$     (0.00) $     (0.05) $      (0.05) $      (0.07) $        0.04 $      (0.11) $        (0.21) $      (0.13) $      (0.03) $      (0.10) $      (0.18) $      (0.10) $         (0.01) $      (0.22) $        0.02 $        0.05 Core EPS (1)$     (0.00) $     (0.03) $      (0.05) $      (0.07) $        0.02 $      (0.14) $        (0.16) $      (0.12) $      (0.03) $      (0.08) $      (0.11) $      (0.09) $         (0.01) $      (0.22) $        0.05 $        0.06 End of period deposits ($ in millions)$        337 $        240 $         533 $         457 $         708 $         453 $           781 $         400 $         624 $         419 $         732 $         376 $            627 $         456 $         666 $         401 Average deposits ($ in millions)$        351 $        286 $         332 $         548 $         794 $         532 $           531 $         558 $         644$          468$         497 $         532 $            635 $         489 $         529 $         543 Average loans ($ in millions)$               $ 1              1  $                1 $                5 $                7 $                2 $                 2  $                2 $                2 $                2 $                2 $            59 $           115  $         289 $         498 $         478 Average excess deposits ($ in millions)$        350 $        285 $         332 $         543 $         787 $         530 $           529 $         556 $         642 $         466 $         495 $         474 $            520 $         200 $            30 $            65 Yield earned on avg. excess deposits 1.99% 1.84% 1.65% 1.80% 2.19% 2.07% 2.02% 2.29% 2.78% 3.03% 3.11% 3.20% 4.33% 4.36% 4.53% 4.65% (1) A Non-GAAP measure; refer to the reconciliation schedule at the end of this document 16

Reconciliation of 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. 17

Reconciliation of Non‐GAAP Measures – Unaudited (Cont.) Core Earnings - Customers Bancorp, Inc. Consolidated ($ in thousands, not including per share amounts) Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 USD Per Share USD Per Share USD Per Share USD Per Share USD Per Share GAAP net income to common shareholders $ 23,911 $ 0.75 $ 23,451 $ 0.74 $ 5,681 $ 0.18 $ 11,825 $ 0.38 $ 14,247 $ 0.44 Reconciling items (after tax): Severance expense - - - - 373 0.01 - - 1,421 0.04 Loss upon acqusition of interest-only GNMA securities - - - - 5,682 0.18 - - - - Merger and acquisition related expenses 76 - - - - - - - 355 0.01 Loss es on sale of multi-family loans - - - - - - - - 868 0.03 Legal res erves - - 1,520 0.05 - - - - - - (Gains) losses on investment securities (310) (0.01) (1,947) (0.06) 347 0.01 (2) - 101 - Losses on sale of non-QM loans 595 0.02 - - - - - - - - Core earnings $ 24,272 $ 0.76 $ 23,024 $ 0.73 $ 12,083 $ 0.38 $ 11,823 $ 0.38 $ 16,992 $ 0.53 Core Earnings - Customers Bank Business Banking Segment ($ in thousands, not including per share amounts) Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 USD Per Share USD Per Share USD Per Share USD Per Share USD Per Share GAAP net income to common shareholders$ 22,218 $ 0.70 $ 22,767 $ 0.72 $ 12,778 $ 0.40 $ 11,988 $ 0.38 $ 17,521 $ 0.55 Reconciling items (after tax): Severance expense - - - - 359 0.01 - - 1,421 0.04 Loss upon acqusition of interest-only GNMA securities - - - - 5,682 0.18 - - - - Loss es on sale of multi-family loans - - - - - - - - 868 0.03 Legal res erves - - 760 0.02 - - - - - - (Gains) losses on investment securities (310) (0.01) (1,947) (0.06) 347 0.01 (2) - 101 - Losses on sale of non-QM loans 595 0.02 - - - - - - - - Core earnings $ 22,503 $ 0.71 $ 21,580 $ 0.68 $ 19,166 $ 0.61 $ 11,986 $ 0.38 $ 19,911 $ 0.62 18

Reconciliation of Non‐GAAP Measures – Unaudited (Cont.) Core Earnings (Loss) - BankMobile Segment ($ in thousands, not including per share amounts) Q4 2019 Q3 2019 Q2 2019 Q1 2019 USD Per Share USD Per Share USD Per Share USD Per Share GAAP net income (loss) to common shareholders $ 1,693 $ 0.05 $ 684 $ 0.02 $ (7,097) $ (0.22) $ (163) $ (0.01) Reconciling items (after tax): Severance expense - - - - 13 - - - Merger and acquisition related expenses 76 - - - - - - - Legal reserves - - 760 0.02 - - - - Core earnings (loss) $ 1,769 $ 0.06 $ 1,444 $ 0.05 $ (7,084) $ (0.22) $ (163) $ (0.01) Core Earnings (Loss) - BankMobile Segment ($ in thousands, not including per share amounts) Q4 2018 Q3 2018 Q2 2018 Q1 2018 USD Per Share USD Per Share USD Per Share USD Per Share GAAP net income (loss) to common shareholders $ (3,274) $ (0.10) $ (5,842) $ (0.18) $ (3,346) $ (0.10) $ (1,001) $ (0.03) Reconciling items (after tax): Merger and acquisition related expenses 355 0.01 2,222 0.07 655 0.02 80 - Core earnings (loss) $ (2,919) $ (0.09) $ (3,620) $ (0.11) $ (2,691) $ (0.08) $ (921) $ (0.03) Core Earnings (Loss) - BankMobile Segment ($ in thousands, not including per share amounts) Q4 2017 Q3 2017 Q2 2017 Q1 2017 USD Per Share USD Per Share USD Per Share USD Per Share GAAP net income (loss) to common shareholders $ (4,240) $ (0.13) $ (6,908) $ (0.21) $ (3,533) $ (0.11) $ 1,457 $ 0.04 Reconciling items (after tax): Merger and acquisition related expenses 256 0.01 - - - - - - Catch-up depreciation/amortization on BankMobile assets - - 1,765 0.05 (883) (0.03) (882) (0.03) Core earnings (loss) $ (3,984) $ (0.12) $ (5,143) $ (0.16) $ (4,416) $ (0.14) $ 575 $ 0.02 Core Earnings (Loss) - BankMobile Segment ($ in thousands, not including per share amounts) Q4 2016 Q3 2016 Q2 2016 Q1 2016 USD Per Share USD Per Share USD Per Share USD Per Share GAAP net income (loss) to common shareholders $ (2,269) $ (0.07) $ (1,507) $ (0.05) $ (1,484) $ (0.05) $ (54) $ - Reconciling items (after tax): Merger and acquisition related expenses - - 89 - 542 0.02 109 - Core loss $ (2,269) $ (0.07) $ (1,418) $ (0.05) $ (942) $ (0.03) $ 55 $ - 19

Reconciliation of Non‐GAAP Measures – Unaudited (Cont.) Tangible Book Value per Common Share - Customers Bancorp, Inc. Consolidated ($ in thousands, except per share data) Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 Q4 2017 Q4 2016 Q4 2015 Q4 2014 GAAP -Total Shareholders' Equity $ 1,052,795 $ 1,019,919 $ 991,405 $ 978,373 $ 956,816 $ 920,964 $ 855,872 $ 553,902 $ 443,145 Reconciling Items: Preferred Stock (217,471) (217,471) (217,471) (217,471) (217,471) (217,471) (217,471) (55,569) - Goodwill and Other Intangibles (15,195) (15,521) (15,847) (16,173) (16,499) (16,295) (17,621) (3,651) (3,664) Tangible Common Equity $ 820,129 $ 786,927 $ 758,087 $ 744,729 $ 722,846 $ 687,198 $ 620,780 $ 494,682 $ 439,481 Common shares outstanding 31,336,791 31,245,776 31,202,023 31,131,247 31,003,028 31,382,503 30,289,917 26,901,801 26,745,529 Tangible Book Value per Common Share $ 26.17 $ 25.16 $ 24.30 $ 23.92 $ 23.32 $ 21.90 $ 20.49 $ 18.39 $ 16.43 CAGR 9.76% Customers Bancorp, Inc. Consolidated - Net Interest Margin, tax equivalent ($ in thousands) Twelve Months Ended December 31, Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 2019 2018 GAAP Net interest income$ 77,593 $ 75,735 $ 64,679 $ 59,304 $ 61,524 $ 277,310 $ 257,877 Tax-equivalent adjustment 187 184 183 181 171 735 685 Net interest income tax equivalent$ 77,780 $ 75,919 $ 64,862 $ 59,485 $ 61,695 $ 278,045 $ 258,562 Average total interest earning assets$ 10,676,730 $ 10,667,198 $ 9,851,150 $ 9,278,413 $ 9,518,120 $ 10,123,708 $ 10,011,799 Net interest margin, tax equivalent 2.89% 2.83% 2.64% 2.59% 2.57% 2.75% 2.58% 20

Reconciliation of Non‐GAAP Measures – Unaudited (Cont.) Twelve Months Ended Core Return on Average Assets - Customers Bancorp December 31, (dollars in thousands except per share data) Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 2019 2018 GAAP net income 27,526 27,066 9,296 15,440 17,862 79,327 71,695 Reconciling items (after tax): Severance expense - - 373 - 1,421 373 1,421 Loss upon acquisition of interest-only GNMA securities - - 5,682 - - 5,682 - Merger and acquisition related expenses 76 - - - 355 76 3,312 Losses on sale of multi-family loans - - - - 868 - 868 Legal reserves - 1,520 - - - 1,520 - (Gains) losses on investment securities (310) (1,947) 347 (2) 101 (1,912) 15,646 Losses on sale of non-QM loans 595 - - - - 595 - Core net income 27,887 26,639 15,698 15,438 20,607 85,661 92,942 Average total assets 11,257,141 11,259,144 10,371,842 9,759,529 9,947,367 10,667,653 10,418,102 Core return on average assets 0.98% 0.94% 0.61% 0.64% 0.82% 0.80% 0.89% Twelve Months Ended Core Return on Average Common Equity - Customers Bancorp December 31, (dollars in thousands except per share data) Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 2019 2018 GAAP net income to common shareholders 23,911 23,451 5,681 11,825 14,247 64,868 57,236 Reconciling items (after tax): Severance expense - - 373 - 1,421 373 1,421 Loss upon acquisition of interest-only GNMA securities - - 5,682 - - 5,682 - Merger and acquisition related expenses 76 - - - 355 76 3,312 Losses on sale of multi-family loans - - - - 868 - 868 Legal reserves - 1,520 - - - 1,520 - (Gains) losses on investment securities (310) (1,947) 347 (2) 101 (1,912) 15,646 Losses on sale of non-QM loans 595 - - - - 595 - 21 Core earnings 24,272 23,024 12,083 11,823 16,992 71,202 78,483 Average total common shareholders' equity 819,018 768,592 751,133 745,226 732,302 781,860 724,505 Core return on average common equity 11.76% 11.59% 6.31% 6.38% 9.05% 9.11% 10.83%

Reconciliation of Non‐GAAP Measures – Unaudited (Cont.) Adjusted Net Income and Adjusted ROAA - Pre-Tax Pre-Provision - Twelve Months Ended Customers Bancorp December 31, (dollars in thousands except per share data) Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 2019 2018 GAAP net income 27,526 27,066 9,296 15,440 17,862 79,327 71,695 Reconciling items: Income tax expense 7,451 8,020 2,491 4,831 5,109 22,793 19,359 Provision for loan and lease losses 9,689 4,426 5,346 4,767 1,385 24,227 5,642 Severance expense - - 490 - 1,869 490 1,869 Loss upon acquisition of interest-only GNMA securities - - 7,476 - - 7,476 - Merger and acquisition related expenses 100 - - - 470 100 4,391 Losses on sale of multi-family loans - - - - 1,161 - 1,161 Legal reserves - 2,000 - - - 2,000 - (Gains) losses on investment securities (310) (2,334) 347 (2) 101 (2,300) 20,293 Losses on sale of non-QM residential mortgage loans 782 - - - - 782 - Adjusted net income - pre-tax pre-provision 45,238 39,178 25,446 25,036 27,957 134,895 124,410 Average total assets 11,257,207 11,259,144 10,371,842 9,759,529 9,947,367 10,667,653 10,418,102 Adjusted ROAA - pre-tax pre-provision 1.59% 1.38% 0.98% 1.04% 1.12% 1.26% 1.19% 22

XML

Document and Entity Information	Jan. 22, 2020
Entity Information [Line Items]
Amendment Flag	false
Entity Incorporation, State or Country Code	PA
Document Type	8-K
Document Period End Date	Jan. 22, 2020
Entity Registrant Name	Customers Bancorp, Inc.
Entity File Number	001-35542
Entity Tax Identification Number	27-2290659
Entity Address, Address Line One	1015 Penn Avenue
Entity Address, Address Line Two	Suite 103
Entity Address, City or Town	Wyomissing
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19610
City Area Code	610
Local Phone Number	933-2000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0001488813
Voting Common Stock, par value $1.00 per share | New York Stock Exchange
Entity Information [Line Items]
Title of 12(b) Security	Voting Common Stock, par value $1.00 per share
Trading Symbol	CUBI
Security Exchange Name	NYSE
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C, par value $1.00 per share | New York Stock Exchange
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Title of 12(b) Security	Fixed-to-Floating Rate Non-Cumulative PerpetualPreferred Stock, Series C, par value $1.00 per share
Trading Symbol	CUBI/PC
Security Exchange Name	NYSE
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, par value $1.00 per share | New York Stock Exchange
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Title of 12(b) Security	Fixed-to-Floating Rate Non-Cumulative PerpetualPreferred Stock, Series D, par value $1.00 per share
Trading Symbol	CUBI/PD
Security Exchange Name	NYSE
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E, par value $1.00 per share | New York Stock Exchange
Entity Information [Line Items]
Title of 12(b) Security	Fixed-to-Floating Rate Non-Cumulative PerpetualPreferred Stock, Series E, par value $1.00 per share
Trading Symbol	CUBI/PE
Security Exchange Name	NYSE
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F, par value $1.00 per share | New York Stock Exchange
Entity Information [Line Items]
Title of 12(b) Security	Fixed-to-Floating Rate Non-Cumulative PerpetualPreferred Stock, Series F, par value $1.00 per share
Trading Symbol	CUBI/PF
Security Exchange Name	NYSE
Subordinated Debt [Member] | New York Stock Exchange
Entity Information [Line Items]
Title of 12(b) Security	5.375% Subordinated Notes due 2034
Trading Symbol	CUBB
Security Exchange Name	NYSE