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Dec 31, 2024
Customers Bancorp Q4 2024 Earnings Report
Customers Bancorp's Q4 2024 performance was marked by solid deposit growth and a strategic securities portfolio repositioning.
Key Takeaways
Customers Bancorp reported a Q4 2024 net income available to common shareholders of $23.3 million, or $0.71 per diluted share. Core earnings were $44.2 million, or $1.36 per diluted share. The company experienced growth in total loans and leases, as well as total deposits during the quarter. It strategically repositioned its securities portfolio to enhance liquidity and reduce asset sensitivity.
Net income available to common shareholders was $23.3 million, or $0.71 per diluted share.
Core earnings were $44.2 million, or $1.36 per diluted share.
Total loans and leases held for investment grew by $671.1 million.
Total deposits increased by $777.1 million, with non-interest bearing demand deposits increasing by $937.5 million.
Customers Bancorp
Customers Bancorp
Forward Guidance
Customers Bancorp anticipates continued deposit growth, loan portfolio expansion, and net interest income increase in 2025, along with maintaining strong capital ratios and focusing on operational efficiency.
Positive Outlook
- Expects deposit growth of 5% to 9% during 2025.
- Targets to increase the loan portfolio by about 7% to 10% in 2025.
- Anticipates net interest income to increase between 3% to 7% in 2025.
- Sees core efficiency ratio in the low to mid 50’s.
- Remains committed to maintaining higher levels of capital with CET 1 ratio target of 11.5% in 2025.
Challenges Ahead
- Expects professional services expense to remain elevated for the next quarter.
- Remixing out less strategic deposits especially in the first half of the year.
- Investments in risk management infrastructure.
- Managing risk and maintaining robust capital levels.
- Focus on loan production where the company has a holistic and primary relationship.