Customers Bancorp Reports Record Net Income For Third Quarter 2019

Q3 2019 GAAP Earnings Up $21 million, and Core Earnings Up $3 million Over Q3 2018
Net Interest Margin Expands to 2.83% and BankMobile Reaches Profitability

Wyomissing, PA, October 23, 2019 – Customers Bancorp, Inc. (NYSE: CUBI) the parent company of Customers Bank and its operating division BankMobile (collectively “Customers” or “CUBI”), today reported third quarter 2019 (“Q3 2019”) net income to common shareholders of $23.5 million, or $0.74 per diluted share, up from $5.7 million in second quarter 2019 (“Q2 2019”) and $2.4 million in third quarter 2018 (“Q3 2018”). Core earnings for Q3 2019 totaled $23.0 million, or $0.73 per diluted share (a non-GAAP measure), up from $12.1 million in Q2 2019 and $20.1 million in Q3 2018 (non-GAAP measures). Core Q3 2019 diluted earnings per share were up 18% over Q3 2018 core diluted earnings per share (non-GAAP measures). Net interest margin, tax equivalent (“NIM”) (a non-GAAP measure), expanded 19 basis points during Q3 2019 and average total loans and leases grew $825 million, or 9%, over Q2 2019.