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BUSINESS SEGMENTS
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2026 and 2025:
Segment profit or loss
Three Months Ended June 30,Six Months Ended June 30,
(amounts in thousands, except per share data)
2026202520262025
Interest income:
Total interest income$344,657 $328,001 $680,969 $642,910 
Total interest expense151,291 151,298 296,252 298,761 
Net interest income193,366 176,703 384,717 344,149 
Provision for credit losses
23,067 20,781 46,439 49,078 
Net interest income after provision for credit losses170,299 155,922 338,278 295,071 
Total non-interest income (1)
34,043 29,606 68,359 5,116 
Non-interest expense:
Salaries and employee benefits56,037 45,848 107,331 88,522 
Technology, communication and bank operations12,891 10,382 24,534 21,694 
Commercial lease depreciation12,761 8,743 25,453 17,206 
Professional services10,024 13,850 21,719 25,707 
Loan servicing3,710 4,053 7,569 8,683 
Occupancy (2)
3,495 3,551 7,451 6,963 
FDIC assessments, non-income taxes and regulatory fees4,585 11,906 12,800 23,656 
Advertising and promotion481 461 1,035 989 
Other (3)
10,907 7,832 18,987 15,977 
Total non-interest expense114,891 106,626 226,879 209,397 
Income before income tax expense89,451 78,902 179,758 90,790 
Income tax expense17,891 17,963 38,545 16,939 
Segment net income
71,560 60,939 141,213 73,851 
Preferred stock dividends— 3,185 — 6,574 
Loss on redemption of preferred stock— 1,908 — 1,908 
Segment net income available to common shareholders
$71,560 $55,846 $141,213 $65,369 
Reconciliation of profit or loss
Adjustments and reconciling items
— — — — 
Consolidated net income available to common shareholders
$71,560 $55,846 $141,213 $65,369 
Basic earnings per common share $2.12 $1.77 $4.16 $2.07 
Diluted earnings per common share2.05 1.73 4.02 2.02 
(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 $0.8 million for the three months ended June 30, 2026 and 2025, respectively. Depreciation expense for furniture and equipment and amortization of leasehold improvement were $2.1 million and $1.5 million for the six months ended June 30, 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 June 30, 2026 and December 31, 2025:
Segment assets
(amounts in thousands)
June 30, 2026December 31, 2025
Total assets$26,520,789 $24,895,868 
Adjustments and reconciling items
— — 
Consolidated total assets
$26,520,789 $24,895,868