Transactions with Executive Officers, Directors, and Principal Shareholders

12 Months Ended

Dec. 31, 2015

Related Party Transactions [Abstract]

Transactions with Executive Officers, Directors, and Principal Shareholders

TRANSACTIONS WITH EXECUTIVE OFFICERS, DIRECTORS, AND PRINCIPAL SHAREHOLDERS

Customers 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,
	2015			2014			2013
(amounts in thousands)
Balance – January 1	$	9		$	7,273		$	3,272
Additions	2,218			5			9,280
Repayments	(2,007		)	(7,269		)	(5,279		)
Balance – December 31	$	220		$	9		$	7,273

At December 31, 2015, Customers Bank had an outstanding commitment to provide short-term commercial real estate financing, subject to certain terms and conditions, not to exceed $8.0 million, and an available line of credit of $1.8 million with one of its related parties.

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, 2015. None of these transactions involved amounts in excess of 5% of the Customers' gross revenues during 2015 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, 2015. 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, 2015 and 2014, the Bank had approximately $14.0 million and $11.7 million, respectively, in deposits from related parties, including directors and certain executive officers.

For the years ended December 31, 2015, 2014, and 2013, Customers paid $27,300, $46,900 and $45,800 to Jaxxon Promotions, Inc., a company in which a Bancorp director owns 25% interest.