XML 45 R30.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Condensed Financial Statements of Parent Company | 12 Months Ended
--- | ---
Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Financial Statements of Parent Company | CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY The following tables present the condensed financial statements for Customers Bancorp, Inc. (parent company only) as of December 31, 2017 and 2016, and for the years ended December 31, 2017, 2016 and 2015. Balance Sheets
| December 31,
| 2017 |  | 2016
(amounts in thousands) |
Assets |  |  |
Cash in subsidiary bank | $ | 67,231 |  |  | $ | 54,441 |
Investments in and receivables due from subsidiaries | 1,039,883 |  |  | 883,793 |
Other assets | 3,160 |  |  | 10,784 |
Total assets | $ | 1,110,274 |  |  | $ | 949,018 |
Liabilities and Shareholders’ equity |  |  |
Borrowings | $ | 186,497 |  |  | $ | 87,123 |
Other liabilities | 2,813 |  |  | 6,023 |
Total liabilities | 189,310 |  |  | 93,146 |
Shareholders’ equity | 920,964 |  |  | 855,872 |
Total Liabilities and Shareholders’ Equity | $ | 1,110,274 |  |  | $ | 949,018 |
Income and Comprehensive Income Statements
| For the Years Ended December 31,
| 2017 |  | 2016 |  | 2015
(amounts in thousands) |
Operating income: |  |  |  |  |
Other | $ | 38,200 |  |  | $ | 25,400 |  |  | $ | 18,545 |
Total operating income | 38,200 |  |  | 25,400 |  |  | 18,545 |
Operating expense: |  |  |  |  |
Interest | 7,984 |  |  | 5,854 |  |  | 5,854 |
Other | 1,742 |  |  | 4,570 |  |  | 4,604 |
Total operating expense | 9,726 |  |  | 10,424 |  |  | 10,458 |
Income before taxes and undistributed income of subsidiaries | 28,474 |  |  | 14,976 |  |  | 8,087 |
Income tax benefit | 3,620 |  |  | 3,961 |  |  | 3,516 |
Income before undistributed income of subsidiaries | 32,094 |  |  | 18,937 |  |  | 11,603 |
Equity in undistributed income of subsidiaries | 46,743 |  |  | 59,765 |  |  | 46,980 |
Net income | 78,837 |  |  | 78,702 |  |  | 58,583 |
Preferred stock dividends | 14,459 |  |  | 9,515 |  |  | 2,493 |
Net income available to common shareholders | 64,378 |  |  | 69,187 |  |  | 56,090 |
Comprehensive income | $ | 83,370 |  |  | $ | 81,794 |  |  | $ | 50,721 |
Statements of Cash Flows
| For the Years Ended December 31,
(amounts in thousands) | 2017 |  | 2016 |  | 2015
Cash Flows from Operating Activities: |  |  |  |  |
Net income | $ | 78,837 |  |  | $ | 78,702 |  |  | $ | 58,583 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Equity in undistributed earnings of subsidiaries, net of dividends received from Bank | (46,743 | ) |  | (59,765 | ) |  | (46,980 | )
Loss on sale of available for sale investment securities | — |  |  | 1 |  |  | — |
(Increase) decrease in other assets | 7,624 |  |  | (7,721 | ) |  | 2,488 |
Increase (decrease) in other liabilities | (1,322 | ) |  | 54 |  |  | (112 | )
Net Cash Provided By Operating Activities | 38,396 |  |  | 11,271 |  |  | 13,979 |
Cash Flows from Investing Activities: |  |  |  |  |
Proceeds from sales of investment securities available for sale | — |  |  | 4 |  |  | — |
Payments for investments in and advances to subsidiaries | (98,725 | ) |  | (230,872 | ) |  | (30,036 | )
Net Cash Used in Investing Activities | (98,725 | ) |  | (230,868 | ) |  | (30,036 | )
Cash Flows from Financing Activities: |  |  |  |  |
Proceeds from issuance of common stock | 2,716 |  |  | 70,985 |  |  | 904 |
Proceeds from issuance of preferred stock | — |  |  | 161,902 |  |  | 55,569 |
Proceeds from issuance of long-term debt | 98,564 |  |  | — |  |  | — |
Exercise and redemption of warrants | 1,059 |  |  | 1,532 |  |  | — |
Payments of employee taxes withheld from share-based awards | (14,761 | ) |  | (5,897 | ) |  | — |
Preferred stock dividends paid | (14,459 | ) |  | (9,051 | ) |  | (2,314 | )
Net Cash Provided by Financing Activities | 73,119 |  |  | 219,471 |  |  | 54,159 |
Net Increase (Decrease) in Cash and Cash Equivalents | 12,790 |  |  | (126 | ) |  | 38,102 |
Cash and Cash Equivalents – Beginning | 54,441 |  |  | 54,567 |  |  | 16,465 |
Cash and Cash Equivalents – Ending | $ | 67,231 |  |  | $ | 54,441 |  |  | $ | 54,567 |

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration