Business Segments (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Segment Reporting Information, by Segment

The following tables present the operating results for Customers' reportable business segments for the three and six months ended June 30, 2020 and 2019. The segment financial results include directly attributable revenues and expenses. Consistent with the presentation of segment results to Customers' chief operating decision makers, overhead costs and preferred stock dividends are assigned to the Customers Bank Business Banking segment. The tax benefit assigned to BankMobile was based on an estimated effective tax rate of 23.20% for 2020 and 23.15% for 2019, respectively.


	Three Months Ended June 30, 2020										Three Months Ended June 30, 2019
(amounts in thousands)	Customers Bank Business Banking		BankMobile		Consolidated		Customers Bank Business Banking		BankMobile		Consolidated
Interest income ⁽¹⁾	$	112,455	$	12,763	$	125,218	$	103,014	$	8,936	$	111,950
Interest expense	32,856		380		33,236		47,061		210		47,271
Net interest income	79,599		12,383		91,982		55,953		8,726		64,679
Provision for credit losses on loans and leases	19,623		1,323		20,946		(2,206)		7,552		5,346
Non-interest income	11,683		10,553		22,236		970		11,066		12,036
Non-interest expense	44,270		19,236		63,506		38,107		21,475		59,582
Income (loss) before income tax expense (benefit)	27,389		2,377		29,766		21,022		(9,235)		11,787
Income tax expense (benefit)	6,611		437		7,048		4,629		(2,138)		2,491
Net income (loss)	20,778		1,940		22,718		16,393		(7,097)		9,296
Preferred stock dividends	3,581		—		3,581		3,615		—		3,615
Net income (loss) available to common shareholders	$	17,197	$	1,940	$	19,137	$	12,778	$	(7,097)	$	5,681

(1) Amounts reported include funds transfer pricing of $1.6 million and $2.2 million, for the three months ended June 30, 2020 and 2019, respectively, credited to BankMobile for the value provided to the Customers Bank Business Banking segment for the use of excess low/no cost deposits.


	Six Months Ended June 30, 2020										Six Months Ended June 30, 2019
(amounts in thousands)	Customers Bank Business Banking		BankMobile		Consolidated		Customers Bank Business Banking		BankMobile		Consolidated
Interest income ⁽¹⁾	$	225,171	$	25,390	$	250,561	$	195,885	$	17,140	$	213,025
Interest expense	76,533		726		77,259		88,666		376		89,042
Net interest income	148,638		24,664		173,302		107,219		16,764		123,983
Provision for credit losses on loans and leases	46,921		5,811		52,732		770		9,343		10,113
Non-interest income	22,819		21,348		44,167		8,547		23,207		31,754
Non-interest expense	88,130		41,835		129,965		73,491		40,075		113,566
Income (loss) before income tax expense (benefit)	36,406		(1,634)		34,772		41,505		(9,447)		32,058
Income tax expense (benefit)	9,334		(379)		8,955		9,510		(2,187)		7,323
Net income (loss)	27,072		(1,255)		25,817		31,995		(7,260)		24,735
Preferred stock dividends	7,196		—		7,196		7,229		—		7,229
Net income (loss) available to common shareholders	$	19,876	$	(1,255)	$	18,621	$	24,766	$	(7,260)	$	17,506

As of June 30, 2020 and 2019
Goodwill and other intangibles	$	3,629	$	10,946	$	14,575	$	3,629	$	12,218	$	15,847
Total assets ⁽²⁾	$	17,316,394	$	586,724	$	17,903,118	$	10,555,141	$	627,286	$	11,182,427
Total deposits	$	10,303,112	$	662,763	$	10,965,875	$	7,729,580	$	456,197	$	8,185,777
Total non-deposit liabilities ⁽²⁾	$	5,895,690	$	33,706	$	5,929,396	$	1,970,391	$	34,854	$	2,005,245

(1) Amounts reported include funds transfer pricing of $3.1 million and $7.8 million, for the six months ended June 30, 2020 and 2019, respectively, credited to BankMobile for the value provided to the Customers Bank Business Banking segment for the use of excess low/no cost deposits.

(2) Amounts reported exclude inter-segment receivables/payables.