XML 28 R17.htm IDEA: XBRL DOCUMENT
v3.23.1

Deposits | 3 Months Ended
--- | ---
Mar. 31, 2023
Deposit [Abstract] |
Deposits | DEPOSITS The components of deposits at March 31, 2023 and December 31, 2022 were as follows:
| March 31, 2023 |  | December 31, 2022
(amounts in thousands) |
Demand, non-interest bearing | $ | 3,487,517 |  |  | $ | 1,885,045 |
Demand, interest bearing | 5,791,302 |  |  | 8,476,027 |
Savings, including money market deposit accounts | 2,943,992 |  |  | 3,546,015 |
Time | 5,500,806 |  |  | 4,249,866 |
Total deposits | $ | 17,723,617 |  |  | $ | 18,156,953 |
The scheduled maturities for time deposits at March 31, 2023 were as follows:
(amounts in thousands) | March 31, 2023 |
2023 | $ | 2,846,450 |  |
2024 | 2,255,828 |  |
2025 | 121,435 |  |
2026 | 275,909 |  |
2027 | 1,144 |  |
Thereafter | 40 |  |
Total time deposits | $ | 5,500,806 |  |
Time deposits greater than the FDIC limit of $250,000 totaled $61.1 million and $85.5 million at March 31, 2023 and December 31, 2022, respectively. Included in the demand, interest bearing balances above were $755.4 million and $553.2 million of brokered demand deposits at March 31, 2023 and December 31, 2022, respectively. Included in the savings and money market deposit account balances above were $10.4 million and $415.7 million of brokered money market deposits at March 31, 2023 and December 31, 2022, respectively. Included in time deposits above were $5.3 billion and $4.0 billion of brokered time deposits at March 31, 2023 and December 31, 2022, respectively. Demand deposit overdrafts reclassified as loans were $2.4 million and $3.7 million at March 31, 2023 and December 31, 2022, respectively. In 2021, Customers Bancorp completed the divestiture of BMT, the technology arm of its BankMobile segment, to MFAC Merger Sub Inc., an indirect wholly-owned subsidiary of MFAC. In connection with the closing of the divestiture, MFAC changed its name to “BM Technologies, Inc.” In connection with the divestiture, Customers entered into various agreements with BM Technologies, including a deposit servicing agreement. Customers incurred expenses of $7.6 million and $17.8 million to BM Technologies under the deposit servicing agreement, included within the technology, communication and bank operations expense in non-interest expense during the three months ended March 31, 2023 and 2022, respectively. Customers held $1.1 billion of deposits serviced by BM Technologies as of March 31, 2023 and December 31, 2022. On March 22, 2023, Customers agreed to extend the deposit servicing agreement to the earlier of BM Technologies' successful completion of the transfer of the serviced deposits in connection with BM Technologies' Higher Education business to a new sponsor bank or June 30, 2024. Also on March 22, 2023, Customers agreed to amend and extend an existing white label relationship with a third party and BM Technologies, whereby Customers will continue to pay deposit servicing fees to BM Technologies.

X
- Definition Deposit + References No definition available. + Details
Name: | cubi_DepositAbstract
Namespace Prefix: | cubi_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 405 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph (e) Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1406 + Details
Name: | us-gaap_DepositLiabilitiesDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration