WEST READING, Pa. (AP) — WEST READING, Pa. (AP) — Customers Bancorp Inc. (CUBI) on Thursday reported first-quarter net income of $49.7 million.
The bank, based in West Reading, Pennsylvania, said it had earnings of $1.40 per share. Earnings, adjusted for non-recurring costs, were $1.68 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.
The bank holding company posted revenue of $353 million in the period. Its revenue net of interest expense was $181.6 million, meeting Street forecasts.
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