v3.26.1
LOANS AND LEASES RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LEASES
 3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
LOANS AND LEASES RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LEASES LOANS AND LEASES RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LEASES
The following table presents loans and leases receivable as of March 31, 2026 and December 31, 2025:
(amounts in thousands)March 31, 2026December 31, 2025
Loans and leases receivable:
Commercial:
Commercial and industrial:
Specialized lending (1)
$7,398,205 $7,090,087 
Other commercial and industrial
1,076,473 1,121,087 
Multifamily2,510,697 2,490,336 
Commercial real estate owner occupied1,279,501 1,135,119 
Commercial real estate non-owner occupied1,742,989 1,738,821 
Construction204,999 162,966 
Total commercial loans and leases receivable14,212,864 13,738,416 
Consumer:
Residential real estate495,458 497,567 
Manufactured housing26,065 27,452 
Installment:
Personal599,302 581,340 
Other185,804 196,565 
Total consumer loans receivable1,306,629 1,302,924 
Loans and leases receivable15,519,493 15,041,340 
Loans receivable, mortgage finance, at fair value1,758,685 1,612,997 
Loans receivable, installment, at fair value93,086 102,077 
Allowance for credit losses on loans and leases(160,962)(155,656)
Total loans and leases receivable, net of allowance for credit losses on loans and leases (2)
$17,210,302 $16,600,758 
(1)Includes direct finance and sales-type equipment leases of $316.9 million and $306.5 million at March 31, 2026 and December 31, 2025, respectively.
(2)Includes deferred (fees) costs and unamortized (discounts) premiums, net of $(29.0) million and $(30.3) million at March 31, 2026 and December 31, 2025, respectively.
Customers’ total loans and leases receivable includes loans receivable reported at fair value based on an election made to account for these loans at fair value and loans and leases receivable predominately reported at their outstanding unpaid principal balance, net of charge-offs, deferred costs and fees and unamortized premiums and discounts, and evaluated for impairment. The total amount of accrued interest recorded for total loans was $87.1 million and $89.9 million at March 31, 2026 and December 31, 2025, respectively, and is presented in accrued interest receivable in the consolidated balance sheet. At March 31, 2026 and December 31, 2025, there were $40.7 million and $34.2 million of individually evaluated loans that were collateral-dependent, respectively. Substantially all individually evaluated loans are collateral-dependent and consisted primarily of commercial and industrial, commercial real estate, and residential real estate loans. Collateral-dependent commercial and industrial loans were secured by accounts receivable, inventory and equipment; collateral-dependent commercial real estate loans were secured by commercial real estate assets; and residential real estate loans were secured by residential real estate assets.
Loans and leases receivable
The following tables summarize loans and leases receivable by loan and lease type and performance status as of March 31, 2026 and December 31, 2025:
 March 31, 2026
(amounts in thousands)
30-59 Days past due (1)
60-89 Days past due (1)
90 Days or more past due (2)
Total past due
Loans and leases not past due (3)(4)
Total loans and leases (4)
Commercial and industrial, including specialized lending$4,858 $— $18,263 $23,121 $8,447,378 $8,470,499 
Multifamily29,665 — — 29,665 2,481,032 2,510,697 
Commercial real estate owner occupied2,880 1,662 4,001 8,543 1,270,958 1,279,501 
Commercial real estate non-owner occupied10,000 — 135 10,135 1,732,854 1,742,989 
Construction— — — — 204,999 204,999 
Residential real estate13,634 1,709 2,944 18,287 477,171 495,458 
Manufactured housing287 104 1,396 1,787 24,278 26,065 
Installment8,356 3,182 3,736 15,274 769,832 785,106 
Total$69,680 $6,657 $30,475 $106,812 $15,408,502 $15,515,314 
 December 31, 2025
(amounts in thousands)
30-59 Days past due (1)
60-89 Days past due (1)
90 Days or more past due (2)
Total past due
Loans and leases not past due (3)(4)
Total loans and leases (4)
Commercial and industrial, including specialized lending
$9,212 $12,888 $7,359 $29,459 $8,177,047 $8,206,506 
Multifamily17,506 — 2,092 19,598 2,470,738 2,490,336 
Commercial real estate owner occupied3,124 158 3,875 7,157 1,127,962 1,135,119 
Commercial real estate non-owner occupied65 — 168 233 1,738,588 1,738,821 
Construction— — — — 162,966 162,966 
Residential real estate11,259 4,376 5,197 20,832 476,735 497,567 
Manufactured housing533 205 1,466 2,204 25,248 27,452 
Installment8,744 3,519 4,483 16,746 761,159 777,905 
Total$50,443 $21,146 $24,640 $96,229 $14,940,443 $15,036,672 
(1)Includes past due loans and leases that are accruing interest because collection is considered probable.
(2)Includes loans amounting to $3.9 million and $4.0 million as of March 31, 2026 and December 31, 2025, respectively, that are still accruing interest because collection is considered probable.
(3)Loans and leases where next payment due is less than 30 days from the report date.
(4)Includes PCD loans of $120.0 million and $118.5 million at March 31, 2026 and December 31, 2025, respectively.
Non-accrual Loans and Leases
The following table presents the amortized cost of loans and leases held for investment on non-accrual status:
 March 31, 2026December 31, 2025
(amounts in thousands)Non-accrual loans with no related allowanceNon-accrual loans with related allowanceTotal non-accrual loansNon-accrual loans with no related allowanceNon-accrual loans with related allowanceTotal non-accrual loans
Commercial and industrial, including specialized lending$6,916 $11,672 $18,588 $8,108 $11,682 $19,790 
Multifamily9,090 — 9,090 2,092 — 2,092 
Commercial real estate owner occupied5,740 — 5,740 3,876 — 3,876 
Commercial real estate non-owner occupied135 — 135 168 — 168 
Residential real estate7,354 155 7,509 9,513 158 9,671 
Manufactured housing— 1,143 1,143 — 1,192 1,192 
Installment— 3,736 3,736 — 4,483 4,483 
Total$29,235 $16,706 $45,941 $23,757 $17,515 $41,272 
Interest income recognized on non-accrual loans was insignificant for the three months ended March 31, 2026 and 2025. Accrued interest reversed when the loans went to non-accrual status was insignificant for the three months ended March 31, 2026 and 2025.
Loans receivable, mortgage finance, at fair value
Mortgage finance loans consist of commercial loans to mortgage companies. These mortgage finance lending transactions are subject to master repurchase agreements. As a result of the contractual provisions, for accounting purposes, control of the underlying mortgage loan has not transferred and the rewards and risks of the mortgage loans are not assumed by Customers. The mortgage finance loans are designated as loans held for investment and reported at fair value based on an election made to account for the loans at fair value. Pursuant to the agreements, Customers funds the pipelines for these mortgage lenders by sending payments directly to the closing agents for funded mortgage loans and receives proceeds directly from third party investors when the underlying mortgage loans are sold into the secondary market. The fair value of the mortgage finance loans is estimated as the amount of cash initially advanced to fund the mortgage, plus accrued interest and fees, as specified in the respective agreements. The interest rates on these loans are variable, and the lending transactions are short-term, with an average life under 30 days from purchase to sale. The primary goal of these lending transactions is to provide liquidity to mortgage companies.
At March 31, 2026 and December 31, 2025, all of Customers’ mortgage finance loans were current in terms of payment. As these loans are reported at their fair value, they do not have an ACL and are therefore excluded from ACL-related disclosures.
Loans receivable, installment, at fair value
Customers had a lending arrangement with a fintech company, which was acquired by a bank, whereby Customers originated consumer installment loans and held these loans prior to sale. These consumer installment loans were designated as loans held for sale and reported at fair value based on an election made to account for the loans at fair value. The lending arrangement with this fintech company expired during the three months ended June 30, 2025. Customers transferred these consumer installment loans from held for sale to held for investment during the three months ended March 31, 2025, and continue to be reported at fair value based on an election made to account for the loans at fair value.
At March 31, 2026, Customers had $1.6 million of consumer installment loans, at fair value, in non-accrual status. As these loans are reported at their fair value, they do not have an ACL and are therefore excluded from ACL-related disclosures.
Allowance for credit losses on loans and leases
The changes in the ACL on loans and leases by loan and lease type for the three months ended March 31, 2026 and 2025 are presented in the tables below:
(amounts in thousands)
Commercial and industrial (1)
MultifamilyCommercial real estate owner occupiedCommercial real estate non-owner occupiedConstructionResidential real estateManufactured housingInstallmentTotal
Three Months Ended
March 31, 2026
Ending Balance,
December 31, 2025
$37,683 $19,333 $10,431 $18,928 $2,225 $6,499 $3,391 $57,166 $155,656 
Charge-offs(4,479)(2,630)(30)— — (1)— (9,932)(17,072)
Recoveries1,903 — 35 — — 1 — 1,878 3,817 
Provision (benefit) for credit losses on loans and leases6,107 2,738 120 (458)447 (786)(53)10,446 18,561 
Ending Balance,
March 31, 2026		$41,214 $19,441 $10,556 $18,470 $2,672 $5,713 $3,338 $59,558 $160,962 
(amounts in thousands)
Commercial and industrial (1)
MultifamilyCommercial real estate owner occupiedCommercial real estate non-owner occupiedConstructionResidential real estateManufactured housingInstallmentTotal
Three Months Ended
March 31, 2025
Ending Balance,
December 31, 2024
$29,379 $18,511 $10,755 $17,405 $1,250 $5,968 $3,829 $49,678 $136,775 
Charge-offs(4,507)(3,834)(19)— — — — (12,403)(20,763)
Recoveries1,276 — 3 — 3 — — 2,337 3,619 
Provision (benefit) for credit losses on loans and leases4,436 4,113 41 653 11 195 (29)12,025 21,445 
Ending Balance,
March 31, 2025		$30,584 $18,790 $10,780 $18,058 $1,264 $6,163 $3,800 $51,637 $141,076 
(1)    Includes specialized lending.
At March 31, 2026, the ACL on loans and leases was $161.0 million, an increase of $5.3 million from the December 31, 2025 balance of $155.7 million. The increase in ACL for the three months ended March 31, 2026 was primarily attributable to a slight deterioration in macroeconomic forecasts and an increase in loan balances held for investment.
Loan Modifications for Borrowers Experiencing Financial Difficulty
A borrower is considered to be experiencing financial difficulty when there is a significant doubt about the borrower’s ability to make the required principal and interest payments on the loan or to get an equivalent financing from another creditor at a market rate for a similar loan.
When borrowers are experiencing financial difficulty, Customers may make certain loan modifications as part of loss mitigation strategies to maximize expected payment. To be classified as a modification made to a borrower experiencing financial difficulty, the modification must be in the form of an interest rate reduction, principal forgiveness, or an other-than-insignificant payment delay (payment deferral), term extension, or combinations thereof.
Customers will generally try other forms of relief before principal forgiveness. Any contractual reduction in the amount of principal due without receiving payment or assets is considered forgiveness. For the purpose of this disclosure, Customers considers any contractual change in interest rate that results in a reduction in interest rate relative to the current stated interest rate as an interest rate reduction. Generally, Customers considers any delay in payment of greater than 90 days in the last twelve months to be significant. Term extensions extend the original contractual maturity of the loan. For the purpose of this disclosure, modification of contingent payment features or covenants that would have accelerated payment are not considered term extensions.
The following tables present the amortized cost of loans that were modified to borrowers experiencing financial difficulty for the three months ended March 31, 2026 and 2025, disaggregated by class of financing receivable and type of modification granted:
Three Months Ended March 31, 2026
(dollars in thousands)Interest Rate ReductionTerm ExtensionPayment DeferralDebt ForgivenessInterest Rate Reduction and Term ExtensionTotalPercentage of Total by Financing Class
Commercial and industrial, including specialized lending
$— $6,440 $— $— $— $6,440 0.08 %
Manufactured housing— — — — 42 42 0.16 %
Personal installment99 803 565 620 — 2,087 0.35 %
Total$99 $7,243 $565 $620 $42 $8,569 

Three Months Ended March 31, 2025
(dollars in thousands)Term ExtensionPayment DeferralDebt ForgivenessInterest Rate Reduction and Term ExtensionTotalPercentage of Total by Financing Class
Commercial and industrial, including specialized lending
$731 $766 $— $— $1,497 0.02 %
Personal installment2,616 1,440 118 128 4,302 0.87 %
Total$3,347 $2,206 $118 $128 $5,799 
As of March 31, 2026, there were no commitments to lend additional funds to debtors experiencing financial difficulty whose loans have been modified during the three months ended March 31, 2026.
The following table summarizes the impacts of loan modifications made to borrowers experiencing financial difficulty for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31, 2026Three Months Ended March 31, 2025
Weighted AverageWeighted Average
(dollars in thousands)Interest Rate Reduction (%)Term Extension
(in months)		Payment Deferral
(in months)		Debt ForgivenInterest Rate Reduction (%)Term Extension
(in months)		Payment Deferral
(in months)		Debt Forgiven
Commercial and industrial, including specialized lending—%130$— —%116$— 
Manufactured housing4.3400— —00— 
Personal installment13.3510306 13.25773 
The performance of loans made to borrowers experiencing financial difficulty in which modifications were made is closely monitored to understand the effectiveness of modification efforts. Loans are considered to be in payment default at 90 days or more past due. The following tables present an aging analysis of loan modifications made to borrowers experiencing financial difficulty in the twelve months ended March 31, 2026 and 2025:
March 31, 2026
(dollars in thousands)30-59 Days past due60-89 Days past due90 Days or more past dueCurrentTotal
Commercial and industrial, including specialized lending
$1,325 $— $— $17,304 $18,629 
Manufactured housing— — — 42 42 
Personal installment621 315 444 4,674 6,054 
Total$1,946 $315 $444 $22,020 $24,725 
March 31, 2025
(dollars in thousands)30-59 Days past due60-89 Days past due90 Days or more past dueCurrentTotal
Commercial and industrial, including specialized lending
$— $— $— $11,179 $11,179 
Residential real estate— — — 302 302 
Manufactured housing— — 17 299 316 
Personal installment188 347 136 5,951 6,622 
Total$188 $347 $153 $17,731 $18,419 
The loans to borrowers experiencing financial difficulty that were modified during the twelve months ended March 31, 2026 and 2025, respectively, that subsequently defaulted were not material. Customers’ ACL is influenced by loan level characteristics that inform the assessed propensity to default. As such, the provision for credit losses is impacted by changes in such loan level characteristics, such as payment performance. Loans made to borrowers experiencing financial difficulty can be classified as either accrual or non-accrual.
Credit Quality Indicators
The ACL represents management’s estimate of expected losses in Customers’ loans and leases receivable portfolio, excluding mortgage finance loans and consumer installment loans reported at fair value pursuant to a fair value option election and PPP loans as these loans are fully guaranteed by the SBA, provided that the eligibility criteria are met. Commercial and industrial including specialized lending, multifamily, owner occupied commercial real estate, non-owner occupied commercial real estate, and construction loans are rated based on an internally assigned risk rating system which is assigned at the time of loan origination and reviewed on a periodic, or on an “as needed” basis. Residential real estate loans, manufactured housing and installment loans are evaluated based on the payment activity of the loan.
To facilitate the monitoring of credit quality within the commercial and industrial including specialized lending, multifamily, owner occupied commercial real estate, non-owner occupied commercial real estate, and construction loan portfolios, and as an input in the ACL lifetime loss rate model for the commercial and industrial loan portfolio, the Bank utilizes the following categories of risk ratings: pass/satisfactory (includes risk rating 1 through 6), special mention, substandard, doubtful and loss. The risk rating categories, which are derived from standard regulatory rating definitions, are assigned upon initial approval of credit to borrowers and updated periodically thereafter. Pass ratings, which are assigned to those borrowers who do not have identified potential or well-defined weaknesses and for whom there is a high likelihood of orderly repayment, are updated periodically based on the size and credit characteristics of the borrower. All other categories are updated on a quarterly basis during the month preceding the end of the calendar quarter. While assigning risk ratings involves judgment, the risk-rating process allows management to identify riskier credits in a timely manner and allocate the appropriate resources to manage those loans and leases. The 2025 Form 10-K describes Customers Bancorp’s risk rating grades.
Risk ratings are not established for certain consumer loans, including residential real estate, home equity, manufactured housing, and installment loans, mainly because these portfolios consist of a larger number of homogeneous loans with smaller balances. Instead, these portfolios are evaluated for risk mainly based upon aggregate payment history through the monitoring of delinquency levels and trends and are classified as performing and non-performing.
The following tables present the credit ratings of loans and leases receivable and current period gross write-offs as of March 31, 2026 and December 31, 2025:
Term Loans Amortized Cost Basis by Origination Year as of
March 31, 2026
(amounts in thousands)20262025202420232022PriorRevolving loans amortized cost basisRevolving loans converted to termTotal
Commercial and industrial loans and leases, including specialized lending:
Pass$858,546 $2,094,727 $1,153,593 $482,935 $787,170 $320,169 $2,349,720 $219,819 $8,266,679 
Special mention— 15,831 4,444 — 17,956 2,526 9,077 7,766 57,600 
Substandard— 151 13,924 1,749 30,218 96,829 497 2,852 146,220 
Doubtful— — — — — — — — — 
Total commercial and industrial loans and leases$858,546 $2,110,709 $1,171,961 $484,684 $835,344 $419,524 $2,359,294 $230,437 $8,470,499 
Commercial and industrial loans and leases charge-offs:
Three Months Ended March 31, 2026$— $3,616 $— $— $82 $781 $— $— $4,479 
Multifamily loans:
Pass$84,962 $455,473 $233,082 $764 $1,138,332 $484,184 $— $— $2,396,797 
Special mention— — — — 14,474 23,536 — — 38,010 
Substandard— — — — 7,149 68,741 — — 75,890 
Doubtful— — — — — — — — — 
Total multifamily loans$84,962 $455,473 $233,082 $764 $1,159,955 $576,461 $— $— $2,510,697 
Multifamily loans charge-offs:
Three Months Ended March 31, 2026$— $— $— $— $— $2,630 $— $— $2,630 
Commercial real estate owner occupied loans:
Pass$101,158 $277,885 $334,237 $45,951 $192,272 $270,532 $7,604 $31 $1,229,670 
Special mention— 17,706 — 2,920 10,314 134 — — 31,074 
Substandard— — — 4,863 2,828 11,066 — — 18,757 
Doubtful— — — — — — — — — 
Total commercial real estate owner occupied loans$101,158 $295,591 $334,237 $53,734 $205,414 $281,732 $7,604 $31 $1,279,501 
Commercial real estate owner occupied loans charge-offs:
Three Months Ended March 31, 2026$— $— $— $— $30 $— $— $— $30 
Commercial real estate non-owner occupied loans:
Pass$90,722 $522,973 $163,429 $14,073 $333,976 $578,275 $350 $2,000 $1,705,798 
Special mention— — — 24,041 3,540 5,449 — — 33,030 
Substandard— — — — 3,153 1,008 — — 4,161 
Doubtful— — — — — — — — — 
Total commercial real estate non-owner occupied loans$90,722 $522,973 $163,429 $38,114 $340,669 $584,732 $350 $2,000 $1,742,989 
Commercial real estate non-owner occupied loans charge-offs:
Three Months Ended March 31, 2026$— $— $— $— $— $— $— $— $— 
Term Loans Amortized Cost Basis by Origination Year as of
March 31, 2026
(amounts in thousands)20262025202420232022PriorRevolving loans amortized cost basisRevolving loans converted to termTotal
Construction loans:
Pass$11,285 $57,836 $60,806 $53,608 $21,464 $— $— $— $204,999 
Special mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total construction loans$11,285 $57,836 $60,806 $53,608 $21,464 $— $— $— $204,999 
Construction loans charge-offs:
Three Months Ended March 31, 2026$— $— $— $— $— $— $— $— $— 
Total commercial loans and leases receivable$1,146,673 $3,442,582 $1,963,515 $630,904 $2,562,846 $1,862,449 $2,367,248 $232,468 $14,208,685 
Total commercial loans and leases receivable charge-offs:
Three Months Ended March 31, 2026$— $3,616 $— $— $112 $3,411 $— $— $7,139 
Residential real estate loans:
Performing$3,581 $49,360 $32,216 $18,022 $151,794 $188,287 $44,956 $— $488,216 
Non-performing— — 130 974 491 5,480 167 — 7,242 
Total residential real estate loans$3,581 $49,360 $32,346 $18,996 $152,285 $193,767 $45,123 $— $495,458 
Residential real estate loans charge-offs:
Three Months Ended March 31, 2026$— $— $— $— $1 $— $— $— $1 
Manufactured housing loans:
Performing$— $— $— $— $— $24,499 $— $— $24,499 
Non-performing— — — — — 1,566 — — 1,566 
Total manufactured housing loans$— $— $— $— $— $26,065 $— $— $26,065 
Manufactured housing loans charge-offs:
Three Months Ended March 31, 2026$— $— $— $— $— $— $— $— $— 
Installment loans:
Performing$105,112 $226,706 $65,468 $156,478 $130,444 $58,564 $38,824 $— $781,596 
Non-performing— 446 359 1,555 739 307 104 — 3,510 
Total installment loans$105,112 $227,152 $65,827 $158,033 $131,183 $58,871 $38,928 $— $785,106 
Installment loans charge-offs:
Three Months Ended March 31, 2026$622 $1,522 $1,338 $2,530 $2,904 $1,016 $— $— $9,932 
Total consumer loans$108,693 $276,512 $98,173 $177,029 $283,468 $278,703 $84,051 $— $1,306,629 
Total consumer loans charge-offs:
Three Months Ended March 31, 2026$622 $1,522 $1,338 $2,530 $2,905 $1,016 $— $— $9,933 
Loans and leases receivable$1,255,366 $3,719,094 $2,061,688 $807,933 $2,846,314 $2,141,152 $2,451,299 $232,468 $15,515,314 
Loans and leases receivable charge-offs:
Three Months Ended March 31, 2026$622 $5,138 $1,338 $2,530 $3,017 $4,427 $— $— $17,072 


Term Loans Amortized Cost Basis by Origination Year as of
December 31, 2025
(amounts in thousands)20252024202320222021PriorRevolving loans amortized cost basisRevolving loans converted to termTotal
Commercial and industrial loans and leases, including specialized lending:
Pass$2,609,580 $1,280,152 $609,744 $839,184 $233,753 $129,958 $2,131,707 $167,916 $8,001,994 
Special mention7,511 4,778 — 37,976 3,633 — 9,658 7,150 70,706 
Substandard— 10,267 1,116 18,927 15,226 84,462 797 3,011 133,806 
Doubtful— — — — — — — — — 
Total commercial and industrial loans and leases$2,617,091 $1,295,197 $610,860 $896,087 $252,612 $214,420 $2,142,162 $178,077 $8,206,506 
Commercial and industrial loans and leases charge-offs:
For the Year Ended December 31, 2025
$— $1,064 $881 $10,880 $600 $1,307 $— $— $14,732 
Multifamily loans:
Pass$467,366 $233,998 $775 $1,148,681 $242,865 $290,416 $— $— $2,384,101 
Special mention— — — 14,556 20,471 16,920 — — 51,947 
Substandard— — — 7,182 16,974 30,132 — — 54,288 
Doubtful— — — — — — — — — 
Total multifamily loans$467,366 $233,998 $775 $1,170,419 $280,310 $337,468 $— $— $2,490,336 
Multifamily loans charge-offs:
For the Year Ended December 31, 2025
$— $— $— $— $— $8,446 $— $— $8,446 
Commercial real estate owner occupied loans:
Pass$217,893 $335,437 $52,517 $195,951 $161,739 $124,346 $7,604 $32 $1,095,519 
Special mention17,785 — — 10,676 1,214 43 — — 29,718 
Substandard— — 2,928 170 — 6,784 — — 9,882 
Doubtful— — — — — — — — — 
Total commercial real estate owner occupied loans$235,678 $335,437 $55,445 $206,797 $162,953 $131,173 $7,604 $32 $1,135,119 
Commercial real estate owner occupied loans charge-offs:
For the Year Ended December 31, 2025
$— $— $15 $417 $361 $393 $— $— $1,186 
Commercial real estate non-owner occupied loans:
Pass$524,297 $163,771 $14,136 $354,528 $86,017 $525,878 $3,300 $— $1,671,927 
Special mention— — 24,048 28,407 6,010 5,626 — — 64,091 
Substandard— — — 1,754 — 1,049 — — 2,803 
Doubtful— — — — — — — — — 
Total commercial real estate non-owner occupied loans$524,297 $163,771 $38,184 $384,689 $92,027 $532,553 $3,300 $— $1,738,821 
Commercial real estate non-owner occupied loans charge-offs:
For the Year Ended December 31, 2025
$— $— $— $— $— $3,073 $— $— $3,073 
Construction loans:
Pass$36,844 $55,389 $49,156 $21,577 $— $— $— $— $162,966 
Special mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total construction loans$36,844 $55,389 $49,156 $21,577 $— $— $— $— $162,966 
Construction loans charge-offs:
For the Year Ended December 31, 2025
$— $— $— $— $— $— $— $— $— 
Total commercial loans and leases receivable$3,881,276 $2,083,792 $754,420 $2,679,569 $787,902 $1,215,614 $2,153,066 $178,109 $13,733,748 
Term Loans Amortized Cost Basis by Origination Year as of
December 31, 2025
(amounts in thousands)20252024202320222021PriorRevolving loans amortized cost basisRevolving loans converted to termTotal
Total commercial loans and leases receivable charge-offs:
For the Year Ended December 31, 2025
$— $1,064 $896 $11,297 $961 $13,219 $— $— $27,437 
Residential real estate loans:
Performing$49,521 $32,347 $18,124 $152,771 $114,934 $75,589 $44,794 $— $488,080 
Non-performing— 133 962 1,225 1,040 4,990 1,137 — 9,487 
Total residential real estate loans$49,521 $32,480 $19,086 $153,996 $115,974 $80,579 $45,931 $— $497,567 
Residential real estate loans charge-offs:
For the Year Ended December 31, 2025
$— $— $53 $— $— $3 $— $— $56 
Manufactured housing loans:
Performing$— $— $— $— $— $25,845 $— $— $25,845 
Non-performing— — — — — 1,607 — — 1,607 
Total manufactured housing loans$— $— $— $— $— $27,452 $— $— $27,452 
Manufactured housing loans charge-offs:
For the Year Ended December 31, 2025
$— $— $— $— $— $— $— $— $— 
Installment loans:
Performing$245,697 $76,563 $178,863 $159,650 $40,057 $32,671 $39,981 $1 $773,483 
Non-performing364 467 1,532 1,610 258 61 130 — 4,422 
Total installment loans$246,061 $77,030 $180,395 $161,260 $40,315 $32,732 $40,111 $1 $777,905 
Installment loans charge-offs:
For the Year Ended December 31, 2025
$2,621 $4,713 $12,790 $15,413 $6,457 $2,809 $— $— $44,803 
Total consumer loans$295,582 $109,510 $199,481 $315,256 $156,289 $140,763 $86,042 $1 $1,302,924 
Total consumer loans charge-offs:
For the Year Ended December 31, 2025
$2,621 $4,713 $12,843 $15,413 $6,457 $2,812 $— $— $44,859 
Loans and leases receivable$4,176,858 $2,193,302 $953,901 $2,994,825 $944,191 $1,356,377 $2,239,108 $178,110 $15,036,672 
Loans and leases receivable charge-offs:
For the Year Ended December 31, 2025
$2,621 $5,777 $13,739 $26,710 $7,418 $16,031 $— $— $72,296 
Loan Purchases and Sales
Purchases and sales of loans held for investment were as follows for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
(amounts in thousands)20262025
Purchases (1)
Other commercial and industrial$— $1,079 
Personal installment (2)
57,826 104,941 
Total$57,826 $106,020 
Sales (3)
Specialized lending
$1,039 $— 
Other commercial and industrial (4)
14,130 — 
Multifamily— 8,000 
Commercial real estate owner occupied (4)
4,025 — 
Personal installment
— 281 
Total$19,194 $8,281 
(1)Amounts reported in the above table are the unpaid principal balance at time of purchase. The purchase price was 99.0% and 99.5% of the loans’ unpaid principal balance for the three months ended March 31, 2026 and 2025, respectively.
(2)Installment loan purchases for the three months ended March 31, 2026 and 2025 consist of third-party originated unsecured consumer loans. None of the loans held for investment are considered sub-prime at the time of origination. Customers considers sub-prime borrowers to be those with FICO scores below 660.
(3)The gain on sales of loans held for investment included in net gain (loss) on sale of loans and leases in the consolidated statement of income was $1.0 million for the three months ended March 31, 2026. The gain on sales of loans held for investment included in net gain (loss) on sale of loans and leases in the consolidated statement of income was insignificant for the three months ended March 31, 2025.
(4)Primarily sales of SBA loans.
Loans Pledged as Collateral
Customers has pledged eligible commercial and residential real estate, multifamily, commercial and industrial and consumer installment loans as collateral for borrowings outstanding or available immediately from the FHLB and FRB in the amount of $9.7 billion and $9.4 billion at March 31, 2026 and December 31, 2025, respectively.