Customers Bancorp, Inc. Targets 2018 Earnings Per Share Of $3.00 As It Prepares To Cross $10 Billion Threshold

WYOMISSING, Pa., Nov. 29, 2016 (GLOBE NEWSWIRE) -- Customers Bancorp, Inc. (NYSE:CUBI), the parent company of Customers Bank (collectively referred to as "Customers" or the "Company"), in meetings today with investors and analysts at the FBR Investor Conference in New York, indicated the Company is targeting generating core earnings per share of $3.00 in 2018.  "We are pleased to share with the investment community that we have good momentum in all our core lines of business and a strategic focus on Risk Management.  Customers is focused on maintaining its profitability improvement record and anticipates core annual earnings reaching approximately $3 per share in 2018," stated Jay S. Sidhu, Chairman and CEO of Customers Bancorp, Inc.  "For the quarter ended September 30, 2016 our earnings were $0.64 per share, up 28% over Q3 2015, on period ending assets of $9.6 billion, with a ROA of 0.89%.  We have been in the midst of preparing for crossing the $10 billion threshold, and expect to complete our DFAST readiness roadmap in early 2017, and are planning a dry run for year-end 2017," Mr. Sidhu confirmed.

About Customers Bancorp, Inc. and Customers Bank

Customers Bancorp, Inc. is a bank holding company located in Wyomissing, Pennsylvania engaged in banking and related businesses through its bank subsidiary, Customers Bank. Customers Bank is a community-based, full-service bank with assets of approximately $9.6 billion that was named one of Forbes magazine's 2016 100 Best Banks in America (there are over 6,200 banks in the United States).  A member of the Federal Reserve System and with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking services to small and medium-sized businesses, professionals, individuals and families through offices in Pennsylvania, New York, Rhode Island, Massachusetts, New Hampshire and New Jersey.  Committed to fostering customer loyalty, Customers Bank uses a High Tech/High Touch strategy that includes use of industry-leading technology to provide customers better access to their money, as well as Concierge BankingĀ® by appointment at customers' homes or offices 12 hours a day, seven days a week. Customers Bank offers a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers.  BankMobile is a division of Customers Bank, offering state of the art high tech digital banking services with a high level of personal customer service.

If you liked this article you might like

Technology Is The Cure for Bank Stocks Says Customers CEO

Bank Stocks Are Down, but Mobile Banking May Bring a Boost

8 Must-Own Stocks to Complete Your 'Sweet 16' Portfolio

Insider Trading Alert - ALKS, CUBI And WLFC Traded By Insiders

3 Financial Stocks to Watch