Transactions with Executive Officers, Directors, and Principal Shareholders

12 Months Ended

Dec. 31, 2019

Transactions with Executive Officers, Directors, and Principal Shareholders

TRANSACTIONS WITH EXECUTIVE OFFICERS, DIRECTORS AND PRINCIPAL SHAREHOLDERSCustomers has had, and may be expected to have in the future, banking transactions in the ordinary course of business with its executive officers, directors, principal shareholders, their immediate families and affiliated companies (commonly referred to as related parties). The activity relating to loans to such persons was as follows:


	For the Years Ended December 31,
	2019		2018		2017
(amounts in thousands)
Balance as of December 31,	$	5	$	—	$	238
Additions	47		27		99
Repayments	(52)		(22)		(337)
Balance as of December 31,	$	—	$	5	$	—

As of December 31, 2019 and 2018, Customers Bank had an outstanding commitment to a related party to provide a letter of credit in the amount of $0.5 million.

Some current directors, nominees for director and executive officers of Customers and entities or organizations in which they were executive officers or the equivalent or owners of more than 10% of the equity, were customers of and had transactions with or involving Customers in the ordinary course of business during the fiscal year ended December 31, 2019. None of these transactions involved amounts in excess of 5% of Customers' gross revenues during 2019, nor was Customers indebted to any of the foregoing persons or entities in an aggregate amount in excess of 5% of Customers' total assets at December 31, 2019. Additional transactions with such persons and entities may be expected to take place in the ordinary course of business in the future.

At December 31, 2019 and 2018, Customers had approximately $9.8 million and $15.3 million, respectively, in deposits from related parties, including directors and certain executive officers.