Customers Bancorp: Q4 Earnings Snapshot

WEST READING, Pa. (AP) _ Customers Bancorp Inc. (CUBI) on Wednesday reported fourth-quarter net income of $28.7 million.

The bank, based in West Reading, Pennsylvania, said it had earnings of 77 cents per share. Earnings, adjusted for non-recurring costs, came to $1.19 per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.

The bank holding company posted revenue of $277 million in the period. Its revenue net of interest expense was $142.5 million, which also fell short of Street forecasts.

For the year, the company reported profit of $228 million, or $6.51 per share. Revenue was reported as $656 million.


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