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BUSINESS SEGMENTS
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
BUSINESS SEGMENT BUSINESS SEGMENTS
Customers has one reportable segment. Customers derives its revenues from customers by providing loans and deposit products in the United States, and manages the business on a consolidated basis. Customers’ accounting policies of the reportable segment are the same as those described in NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION to the audited consolidated financial statements in the 2025 Form 10-K.
Customers’ CODM is the Executive Committee (the “Executive Committee”) that includes the Executive Chairman, Chief Executive Officer, Chief Financial Officer, Chief Banking Officer, Chief Risk Officer, Chief Credit Officer, Chief Operating Officer and the Head of Corporate Development and Investor Relations. The Executive Committee assesses performance of Customers on a consolidated basis, and decides how to allocate resources based on net income that is also reported as net income available to common shareholders on the consolidated statement of income.
The Executive Committee uses net income, which is the measure of segment profit and loss, to evaluate income generated from segment assets (return on assets) and other measures, such as net interest margin, tax equivalent, return on average assets, return on common equity and tangible common equity per common share, in deciding how to reinvest profits, such as originating loans and leases, investing in investment securities, or to repurchase shares in Customers’ common stock.
Net income available to common shareholders is used to monitor budget versus actual results. The Executive Committee also uses net income available to common shareholders and other measures in comparing to Customers’ peer banks. The comparison of Customers’ net income available to common shareholders and other measures to its peer banks, along with the comparison of budgeted versus actual results are used in assessing Customers’ performance and in establishing management compensation.
The following table presents Customers’ reported segment revenues, profit or loss and significant segment expenses for the three months ended March 31, 2026 and 2025:
Segment profit or loss
Three Months Ended March 31,
(amounts in thousands, except per share data)
20262025
Total interest income$336,312 $314,909 
Total interest expense144,961 147,463 
Net interest income191,351 167,446 
Provision for credit losses
23,372 28,297 
Net interest income after provision for credit losses167,979 139,149 
Total non-interest income (loss) (1)
34,316 (24,490)
Non-interest expense:
Salaries and employee benefits51,294 42,674 
Technology, communication and bank operations11,643 11,312 
Commercial lease depreciation12,692 8,463 
Professional services11,695 11,857 
Loan servicing3,859 4,630 
Occupancy (2)
3,956 3,412 
FDIC assessments, non-income taxes and regulatory fees8,215 11,750 
Advertising and promotion554 528 
Other (3)
8,080 8,145 
Total non-interest expense111,988 102,771 
Income before income tax expense (benefit)
90,307 11,888 
Income tax expense (benefit)
20,654 (1,024)
Segment net income
69,653 12,912 
Preferred stock dividends— 3,389 
Segment net income available to common shareholders
$69,653 $9,523 
Reconciliation of profit or loss
Adjustments and reconciling items
— — 
Consolidated net income available to common shareholders
$69,653 $9,523 
Basic earnings per common share $2.04 $0.30 
Diluted earnings per common share1.97 0.29 
(1)    Includes Customers’ equity in the net income of investees accounted for under the equity method consisting primarily of investments in the SBA’s small business investment companies, and income from investments in affordable housing projects.
(2)    Includes depreciation expense for furniture, fixture and equipment and amortization of leasehold improvements of $1.0 million and $0.7 million for the three months ended March 31, 2026 and 2025, respectively.
(3)    Other expenses include provision for credit losses on unfunded lending-related commitments, loan workout and non-capitalizable origination costs, provision for operating losses, insurance expenses, charitable contributions and other miscellaneous expenses.
Substantially all revenues generated and long-lived assets held by Customers are derived from customers that reside in the United States. Customers did not earn revenues from a single external customer that represents ten percent or more of consolidated total revenues.
The measure of segment assets is reported as total assets on the consolidated balance sheet. The following table presents Customers’ reported segment assets as of March 31, 2026 and December 31, 2025:
Segment assets
(amounts in thousands)
March 31, 2026December 31, 2025
Total assets$25,880,767 $24,895,868 
Adjustments and reconciling items
— — 
Consolidated total assets
$25,880,767 $24,895,868