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Customers Bancorp ( (CUBI) ) just unveiled an update.
Customers Bancorp reported its fourth quarter and full year 2024 financial results, highlighting significant growth in deposits and loans. The company achieved a net income of $23.3 million in Q4 2024 and $166.4 million for the full year, driven by strategic deposit inflows and securities portfolio repositioning. Enhancements in deposit management led to cost reductions and increased non-interest-bearing deposits. Despite repositioning its securities portfolio, the company maintained strong liquidity and asset quality, with a modest increase in non-performing assets. Customers Bancorp’s strategic investments and disciplined risk management are expected to position the company for continued success in the future.
More about Customers Bancorp
Customers Bancorp, Inc. (NYSE:CUBI) operates within the financial services industry, providing a range of banking products and services. The company is known for its focus on deposit transformation and customer service excellence, as evidenced by its high Net Promoter Score. Customers Bancorp is actively working to enhance its deposit franchise and profitability while maintaining strong capital ratios.
YTD Price Performance: 6.81%
Average Trading Volume: 377,700
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $1.59B
See more insights into CUBI stock on TipRanks’ Stock Analysis page.
