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Condensed Financial Statements of Parent Company
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information 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, 2022 and 2021, and for the years ended December 31, 2022, 2021 and 2020.
Balance Sheets
December 31,
(amounts in thousands)20222021
Assets
Cash in bank subsidiary$72,853 $172,755 
Investment securities (1)
22,670 20,575 
Investments in and receivables due from bank subsidiary1,502,917 1,463,528 
Other assets2,745 7,526 
Total assets$1,601,185 $1,664,384 
Liabilities and Shareholders' equity
Borrowings$196,165 $295,490 
Other liabilities2,059 2,677 
Total liabilities198,224 298,167 
Shareholders' equity1,402,961 1,366,217 
Total Liabilities and Shareholders' Equity$1,601,185 $1,664,384 
(1)    Includes perpetual preferred stock issued by domestic banks or bank holding companies and equity securities issued by fintech companies, without a readily determinable fair value, at December 31, 2022 and 2021. No impairments or measurement adjustments have been recorded on the equity securities without a readily determinable fair value since acquisition.
Income and Comprehensive Income Statements
For the Years Ended December 31,
(amounts in thousands)202220212020
Operating income:
Dividends from bank subsidiary$52,000 $172,982 $65,000 
Loss on sale of foreign subsidiaries— (2,809)— 
Other1,264 — — 
Total operating income53,264 170,173 65,000 
Operating expense:
Interest10,657 10,879 9,681 
Other3,410 3,121 1,498 
Total operating expense14,067 14,000 11,179 
Income before taxes and undistributed income of subsidiaries39,197 156,173 53,821 
Income tax benefit2,819 6,964 2,703 
Income before undistributed income of subsidiaries42,016 163,137 56,524 
Equity in undistributed income of subsidiaries186,018 151,510 76,054 
Net income228,034 314,647 132,578 
Preferred stock dividends9,632 11,693 14,041 
Loss on redemption of preferred stock— 2,820 — 
Net income available to common shareholders218,402 300,134 118,537 
Comprehensive income$69,918 $315,431 $128,064 
One of the principal sources of the Bancorp's liquidity is the dividends it receives from the Bank, which may be impacted by the following: bank-level capital needs, laws and regulations, corporate policies, contractual restrictions and other factors. There are statutory and regulatory limitations on the ability of the Bank to pay dividends or make other capital distributions or to extend credit to the Bancorp or its non-bank subsidiaries.
Statements of Cash Flows
For the Years Ended December 31,
(amounts in thousands)202220212020
Cash Flows from Operating Activities
Net income$228,034 $314,647 $132,578 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed earnings of subsidiaries, net of dividends received from Bank(186,018)(151,510)(76,054)
Distribution of investment in BM Technologies common stock from Bank— (32,983)— 
Loss on sale of foreign subsidiaries— 2,840 — 
(Increase) decrease in other assets4,328 (5,100)5,613 
Increase (decrease) in other liabilities680 1,054 1,088 
Net Cash Provided By (Used in) Operating Activities47,024 128,948 63,225 
Cash Flows from Investing Activities
Purchases of investment securities(2,095)`(20,575)— 
Payments for investments in and advances to subsidiaries— (50,010)(26)
Proceeds from sales of foreign subsidiaries— 3,765 — 
Net Cash Provided By (Used in) Investing Activities(2,095)(66,820)(26)
Cash Flows from Financing Activities
Proceeds from issuance of common stock2,720 27,762 923 
Proceed from issuance of other long-term borrowings— 98,799 — 
Repayments of other borrowings(100,000)— — 
Redemption of preferred stock— (82,497)— 
Preferred stock dividends paid(9,326)(10,833)(14,076)
Purchase of treasury stock(33,162)(27,662)— 
Payments of employee taxes withheld from share-based awards(5,063)(5,568)(2,063)
Net Cash Provided by (Used in) Financing Activities(144,831)1 (15,216)
Net Increase (Decrease) in Cash and Cash Equivalents(99,902)62,129 47,983 
Cash and Cash Equivalents - Beginning Balance172,755 110,626 62,643 
Cash and Cash Equivalents - Ending Balance$72,853 $172,755 $110,626 
Non-cash Investing and Financing Activities:
Distribution of investment in BM Technologies common stock$— $32,983 $—