Customers Bancorp Reports Net Income For First Quarter 2019
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Customers Bancorp (CUBI) Misses Q1 EPS by 1c; Offers FY19 & FY20 EPS Guidance Above Consensus
April 24, 2019 4:46 PM EDTCustomers Bancorp (NYSE: CUBI) reported Q1 EPS of $0.38, $0.01 worse than the analyst estimate of $0.39.
Net interest margin, tax equivalent ("NIM") (a non-GAAP measure) was 2.59% in Q1 2019, an expansion of 2 basis points from fourth quarter 2018 ("Q4 2018"). Excluding prepayment fees, NIM expanded 3 basis points from Q4 2018.Total assets were $10.1 billion at March 31, 2019, compared to $9.8 billion at December 31, 2018 and $10.8 billion at March 31, 2018. Average interest earning assets for Q1 2019 were $9.3 billion, compared to $9.5 billion for Q4 2018 and $9.9 billion for Q1 2018.Total deposits increased year-over-year by $383 million, or 5.4%, from March 31, 2018, with demand deposits increasing $413 million, or... More