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Dec 31, 2021
Customers Bancorp Q4 2021 Earnings Report
Reported record results for the full year and Q4, driven by strong loan and deposit growth.
Key Takeaways
Customers Bancorp reported a record Q4 2021 with net income of $98.6 million, or $2.87 per diluted share, up 87% over Q4 2020. The company experienced loan growth of $1.0 billion and a tangible book value increase of 33% over Q4 2020.
Q4 2021 net income was $98.6 million, or $2.87 per diluted share, up 87% over Q4 2020.
Q4 2021 ROAA was 2.08% and ROCE was 33.2%.
Loan growth was $1.0 billion (excluding PPP loans and loans to mortgage companies), up 13% over Q3 2021.
Tangible book value increased 33% over Q4 2020.
Forward Guidance
Customers Bancorp anticipates sustainable core growth, projecting core earnings (excluding PPP) between $4.75 - $5.00 in 2022 and well over $6.00 in 2023.
Positive Outlook
- Strong core above average low-double-digit growth in loans and deposits.
- Improving profitability.
- Efficiency ratio in the low 40s.
- Revenue growth.
- Prudent expense management over the next two to three years.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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