An update from Customers Bancorp ( (CUBI) ) is now available.
Customers Bancorp reported solid financial results for Q3 2024, with net income for common shareholders at $42.9 million and core earnings at $43.8 million. The company achieved significant growth in total loans and deposits, with commercial loan growth driving a 16% annualized increase. A strategic focus on transforming deposit inflows and managing operational risks contributed to a robust liquidity position, covering 183% of uninsured deposits, and an impressive asset quality with a non-performing assets ratio of 0.22%. The tangible book value per share grew to $52.96, showcasing strong capital management and profitability improvements.
For an in-depth examination of CUBI stock, go to TipRanks’ Stock Analysis page.
