BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Segment Reporting Information, by Segment

The following table presents Customers’ reported segment revenues, profit or loss and significant segment expenses for the three and six months ended June 30, 2025 and 2024:


Segment profit or loss
	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024






Total interest income	$	328,001	$	334,038	$	642,910	$	665,815







Total interest expense	151,298		166,385		298,761		337,777
Net interest income	176,703		167,653		344,149		328,038
Provision for credit losses	20,781		18,121		49,078		35,191
Net interest income after provision for credit losses	155,922		149,532		295,071		292,847






















Total non-interest income (1)	29,606		31,037		5,116		52,268
Non-interest expense:
Salaries and employee benefits	45,848		44,947		88,522		80,972
Technology, communication and bank operations	10,382		16,227		21,694		38,131
Commercial lease depreciation	8,743		7,829		17,206		15,799
Professional services	13,850		6,104		25,707		12,457
Loan servicing	4,053		3,516		8,683		7,547
Occupancy (2)	3,551		3,120		6,963		5,467
FDIC assessments, non-income taxes and regulatory fees	11,906		10,236		23,656		23,705
Advertising and promotion	461		1,254		989		1,936





Other (3)	7,832		10,219		15,977		16,607
Total non-interest expense	106,626		103,452		209,397		202,621
Income before income tax expense	78,902		77,117		90,790		142,494
Income tax expense	17,963		19,032		16,939		34,683




Segment net income	60,939		58,085		73,851		107,811
Preferred stock dividends	3,185		3,785		6,574		7,585
Loss on redemption of preferred stock	1,908		—		1,908		—
Segment net income available to common shareholders	$	55,846	$	54,300	$	65,369	$	100,226

Reconciliation of profit or loss
Adjustments and reconciling items	—		—		—		—
Consolidated net income available to common shareholders	$	55,846	$	54,300	$	65,369	$	100,226


Basic earnings per common share	$	1.77	$	1.72	$	2.07	$	3.18

Diluted earnings per common share	1.73		1.66		2.02		3.06

(1) Includes Customers’ equity in the net income of investees accounted for under the equity method consisting primarily of investments in the SBA’s small business investment companies, and income from investments in affordable housing projects.

(2) Includes depreciation expense for furniture, fixture and equipment and amortization of leasehold improvements of $0.8 million and $0.6 million for the three months ended June 30, 2025 and 2024, respectively. Depreciation expense for furniture, fixture and equipment and amortization of leasehold improvements were $1.5 million and $1.1 million for the six months ended June 30, 2025 and 2024, respectively.

(3) Other expenses include fees paid to a fintech company related to consumer installment loans originated and held for sale, provision for credit losses on unfunded lending-related commitments, loan workout and non-capitalizable origination costs, provision for operating losses, insurance expenses, charitable contributions and other miscellaneous expenses.

Reconciliation of Assets from Segment to Consolidated

The measure of segment assets is reported as total assets on the consolidated balance sheet. The following table presents Customers’ reported segment assets as of June 30, 2025 and December 31, 2024:


Segment assets

(amounts in thousands)	June 30, 2025		December 31, 2024
Total assets	$	22,550,800	$	22,308,241
Adjustments and reconciling items	—		—
Consolidated total assets	$	22,550,800	$	22,308,241