Customers Bancorp, Inc. reported significant financial growth for the first quarter of 2026, with net income available to common shareholders reaching $69.7 million, a substantial increase from $9.5 million in the same period last year. This growth was driven by a 14.3% rise in net interest income, which totaled $191.4 million, attributed to higher average loan balances and a favorable shift in the deposit mix that reduced interest expenses. The company's net interest margin improved to 3.22%, up from 3.13% in the prior year, reflecting a decrease in the cost of interest-bearing liabilities.
The provision for credit losses decreased to $23.4 million from $28.3 million year-over-year, indicating a slight improvement in the macroeconomic environment. The allowance for credit losses on loans and leases increased to $161.0 million, representing 1.04% of total loans and leases receivable. Net charge-offs for the quarter were $13.3 million, down from $17.1 million in the previous year, primarily due to lower charge-offs in commercial and industrial loans, multifamily loans, and consumer installment loans.
Customers Bancorp also experienced operational growth, with total assets increasing by $984.9 million to $25.9 billion as of March 31, 2026. This growth was driven by a $478.2 million increase in loans and leases receivable and a $386.7 million rise in cash and cash equivalents. Total deposits rose by $813.9 million to $21.6 billion, with non-interest-bearing demand deposits increasing by 6.9%. The bank's total loans and leases receivable reached $17.4 billion, with commercial loans comprising approximately 91.8% of the total portfolio.
Strategically, Customers Bancorp has been focusing on enhancing its liquidity position, maintaining $4.8 billion in cash and $2.7 billion in investment securities. The bank's liquidity, including available borrowing capacity from the Federal Home Loan Bank (FHLB) and the Federal Reserve Bank (FRB), amounted to approximately $11.1 billion, covering about 120% of uninsured deposits. The company has also initiated a new share repurchase program, authorizing up to $100 million in stock buybacks, which reflects its commitment to returning value to shareholders.
Looking ahead, Customers Bancorp remains cautious amid ongoing economic uncertainties, including inflationary pressures and geopolitical tensions. The bank is actively managing its interest rate risk and has adjusted its loan portfolio towards lower credit risk commercial loans. The management continues to monitor macroeconomic conditions closely, with a focus on maintaining strong capital ratios and liquidity to navigate potential challenges in the financial landscape.
About Customers Bancorp, Inc.
Customers Bancorp, Inc. is a bank holding company operating through its subsidiary, Customers Bank, offering diversified commercial and consumer banking services. It provides loans, deposits, digital banking, treasury, and payments solutions nationwide, focusing on community banking, specialized lending, and fintech partnerships. The company emphasizes high-tech, high-touch personalized service, risk management, and strategic acquisitions to drive organic growth and market expansion.
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