Customers Bancorp: Q4 Earnings Snapshot

WEST READING, Pa. (AP) — WEST READING, Pa. (AP) — Customers Bancorp Inc. (CUBI) on Thursday reported fourth-quarter net income of $26.9 million.

The bank, based in West Reading, Pennsylvania, said it had earnings of 71 cents per share. Earnings, adjusted for non-recurring costs, were $1.36 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.

The bank holding company posted revenue of $329.5 million in the period. Its revenue net of interest expense was $167.4 million, falling short of Street forecasts. Four analysts surveyed by Zacks expected $183.5 million.

For the year, the company reported profit of $181.5 million, or $5.09 per share. Revenue was reported as $714.8 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CUBI at https://www.zacks.com/ap/CUBI

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