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Customers Bancorp Provides 2014 And 2015 Earnings Guidance

WYOMISSING, Pa., Jan. 23, 2014 /PRNewswire/ -- In response to a question raised to Customers Bancorp, Inc. management, the Company at its 2:00 pm January 23, 2014 earnings call provided the following earnings guidance for 2014 and 2015:

  • 2014 full year earnings guidance of $1.65 to $1.70 fully diluted earnings per share, up approximately 17.1% over full year 2013 fully diluted earnings per share
  • 2015 full year earnings guidance of $1.95 to $2.00 fully diluted earnings per share, up approximately 17.9% over estimated full year 2014 fully diluted earnings per share
  • Current share price ($19.67) is 11.7x estimated 2014 earnings, and 10.0x estimated 2015 earnings
  • Current share price ($19.67) is 1.1x estimated 2014 year end book value, and 1.0x estimated 2015 book value
  • Earnings guidance is based on a very strong loan pipeline at year end 2013, continued top line growth, maintaining strong credit quality, and continued focus on expense management
  • The amounts assume no additional common shares are issued during 2014 or 2015 and all growth is organic

The preceding is estimated guidance regarding the Company's fully diluted earnings per share for the years 2014 and 2015.  This guidance consists solely of estimates prepared by management based on currently available information and assumptions of future performance of the company and the general economy.  The Company's independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to this guidance and, accordingly, does not express an opinion or any other form of assurance with respect to this data.  The actual results may differ from this guidance, and any such differences could be material.  Accordingly, undue reliance should not be placed on these numbers.  Please refer to our entire forward looking statements regarding factors to consider and evaluate in relying on the guidance provided.

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