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Customers Bancorp Inc (CUBI.N)

CUBI.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Customers Bancorp enters into amended and restated purchase agreement with Flagship
Monday, 20 Nov 2017 08:48am EST 

Nov 20 (Reuters) - Customers Bancorp Inc :Customers Bancorp - On Nov 17, co and Flagship Community Bank entered into an amended and restated purchase and assumption agreement.Customers Bancorp - Original purchase agreement provided for sale of Bankmobile division of Customers Bank to Flagship.Customers Bancorp - Completion of transaction was subject to a variety of conditions, including Flagship obtaining financing not less than $260 million.Customers Bancorp says Flagship was unable to obtain the financing​.Customers Bancorp says ‍amended purchase agreement contains certain termination rights for both sellers and flagship​.  Full Article

Customers Bancorp reports Q3 earnings per share $0.13
Wednesday, 25 Oct 2017 04:15pm EDT 

Oct 25 (Reuters) - Customers Bancorp Inc :Customers Bancorp Inc reports net income for third quarter 2017 and first nine months 2017.Q3 earnings per share $0.13.Q3 earnings per share view $0.70 -- Thomson Reuters I/B/E/S.Q3 non-GAAP earnings per share $0.61 excluding items.Customers Bancorp Inc - ‍Q3 2017 net interest income of $68.0 million increased $3.4 million, or 5.3 pct, from net interest income for q3 2016​.Customers Bancorp Inc - ‍bankmobile, previously presented as discontinued operations in financial statements was reclassified as held and used at sept 30, 2017​.Customers Bancorp Inc - expect to reach closer to targeted capital levels at year end 2017 and future years.  Full Article

Customers Bancorp Q3 earnings per share $0.34 excluding items
Monday, 23 Oct 2017 08:00am EDT 

Oct 23 (Reuters) - Customers Bancorp Inc :Q3 earnings per share $0.34 excluding items.Q3 earnings per share view $0.70 -- Thomson Reuters I/B/E/S.Estimates Q3 2017 earnings will be approximately $4.1 million ($0.13 per diluted share)​.Customers Bancorp Inc - ‍estimates Q3 2017 non-GAAP earnings per share $0.61​.Customers Bancorp Inc - "‍change in our BankMobile disposition strategy has unfortunate effect of reducing Q3 2017 earnings by $0.32"​.  Full Article

Customers Bancorp reports Q2 earnings per share $0.62
Wednesday, 26 Jul 2017 04:30pm EDT 

July 26 (Reuters) - Customers Bancorp Inc :Customers Bancorp reports net income for second quarter 2017 and first six months of 2017.Q2 earnings per share $0.78 from continuing operations.Q2 earnings per share $0.62.Q2 earnings per share view $0.62 -- Thomson Reuters I/B/E/S.Customers Bancorp Inc - net interest margin increased 0.05% in Q2 2017 to 2.78% from Q1 2017.Customers Bancorp- Q2 2017 provision for loan losses from continuing operations totaled $0.5 million compared to provision expense of $0.8 million in Q2 2016.Customers Bancorp Inc - Q2 2017 net interest income from continuing operations of $68.6 million increased $5.5 million, or 8.6%, from comparable quarter 2016.  Full Article

Customers Bancorp announces upsizing & pricing of $100 mln, 3.95% senior notes offering
Wednesday, 28 Jun 2017 08:19pm EDT 

June 28 (Reuters) - Customers Bancorp Inc :Customers Bancorp announces upsizing and pricing of $100 million, 3.95% senior notes offering.Says announced pricing of its underwritten public offering of $100 million aggregate principal amount of 3.95% senior notes due 2022.Company increased aggregate amount of notes to $100.0 million from previously announced amount of $75.0 million.Says company expects to receive net proceeds, before expenses, of $98.525 million from offering, after deducting underwriting discount.  Full Article

Customers Bancorp says has received two unsolicited all-cash proposals over past few weeks
Wednesday, 31 May 2017 12:31pm EDT 

May 31 (Reuters) - Customers Bancorp Inc ::Says over past few weeks, Customers has also received two unsolicited all-cash proposals.Board believes new proposals could be considered superior to Flagship proposal."Now considering restructuring" BankMobile transaction "as a tax free spin-off of BankMobile to Customers Bancorp shareholders".Restructuring of transaction "would be followed by an all-stock acquisition of BankMobile by a well capitalized Flagship Community Bank".Flagship Community Bank was unable to raise all required capital needed to complete acquisition that was agreed with co in mid-Feb.  Full Article

Customers Bancorp reports Q1 earnings per share $0.67
Wednesday, 26 Apr 2017 04:15pm EDT 

April 26 (Reuters) - Customers Bancorp Inc :Customers Bancorp reports record q1 2017 net income.Q1 earnings per share $0.67.Q1 earnings per share $0.71 from continuing operations.Qtrly net interest income from continuing operations of $62.4 million increased $4.8 million, or 8.3%.  Full Article

Customers Bancorp executes agreement to sell Bankmobile division to Flagship Community Bank
Wednesday, 8 Mar 2017 08:15am EST 

Customers Bancorp Inc : Customers Bancorp executes agreement to sell Bankmobile division to Flagship Community Bank . Customers Bancorp - total cash purchase price of $175 million .Customers Bancorp - after accounting for all expenses, this transaction is expected to create approximately $100 million of pre-tax gain for customers.  Full Article

Customers Bancorp Q4 earnings per share $0.51
Thursday, 26 Jan 2017 06:00am EST 

Customers Bancorp Inc : Customers Bancorp reports record net income for full year 2016 . Q4 earnings per share $0.51 . Q4 earnings per share view $0.62 -- Thomson Reuters I/B/E/S .Customers Bancorp- book value per share continued to increase, reaching $21.08 per share at Dec 31, 2016 versus $18.52 per share at December 31, 2015.  Full Article

Customers Bancorp reports Q4 earnings per share $0.64
Tuesday, 29 Nov 2016 09:00am EST 

Customers Bancorp Inc - : Q4 earnings per share $0.64 . Sees fy 2018 core earnings per share $3.00 . Q4 earnings per share view $0.62 -- Thomson Reuters I/B/E/S ."Expect to complete our dfast readiness roadmap in early 2017, and are planning a dry run for year-end 2017".  Full Article

BRIEF-Bancorp Inc Reports Termination Of Sale Of $36.9 Million Non-Performing Loan

* BANCORP INC - CO REPORTS TERMINATION OF PREVIOUSLY-ANNOUNCED SALE OF A $36.9 MILLION NON-PERFORMING LOAN - SEC FILING Source http://bit.ly/2IP3XWY Further company coverage: