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Business Segments (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents Customers’ reported segment revenues, profit or loss and significant segment expenses for the years ended December 31, 2024, 2023 and 2022:

Segment profit or loss
			For the Years Ended December 31,
(amounts in thousands, except per share data)			2024						2023						2022
Total interest income			$	1,327,834					$	1,367,360					$	885,373
Total interest expense			673,430						679,911						261,653
Net interest income			654,404						687,449						623,720
Provision for credit losses			73,451						74,611						60,066
Net interest income after provision for credit losses			580,953						612,838						563,654
Total non-interest income (1)			60,434						70,565						32,272
Non-interest expense:
Salaries and employee benefits			175,836						133,275						112,365
Technology, communication and bank operations			65,154						65,550						84,998
Commercial lease depreciation			32,543						29,898						22,978
Professional services			34,978						35,177						27,465
Loan servicing			15,909						17,075						15,023
Occupancy (2)			11,789						10,070						13,606
FDIC assessments, non-income taxes, and regulatory fees			41,684						35,036						8,869
Advertising and promotion			4,489						3,095						2,541
Legal settlement expense			—						4,096						—
Other (3)			34,632						19,391						16,784
Total non-interest expense			417,014						352,663						304,629
Income before income tax expense			224,373						330,740						291,297
Income tax expense			42,904						80,597						63,263
Segment net income			181,469						250,143						228,034
Preferred stock dividends			15,040						14,695						9,632
Segment net income available to common shareholders			$	166,429					$	235,448					$	218,402
Reconciliation of profit or loss
Adjustments and reconciling items			—						—						—
Consolidated net income available to common shareholders			$	166,429					$	235,448					$	218,402
Basic earnings per common share			$	5.28					$	7.49					$	6.69
Diluted earnings per common share			5.09						7.32						6.51

(1)    Includes Customers’ equity in the net income of investees accounted for under the equity method, consisting primarily of investments in affordable housing projects and the SBA’s small business investment companies.

(2)    Includes depreciation expense for furniture, fixture and equipment and amortization of leasehold improvements of $2.2 million, $2.2 million and $3.3 million for the years ended December 31, 2024, 2023 and 2022, respectively.

(3)    Other expenses include fees paid to a fintech company related to consumer installment loans originated and held for sale, provision for credit losses on unfunded lending-related commitments, loan workout and non-capitalizable origination costs, provision for operating losses, insurance expenses, charitable contributions and other miscellaneous expenses.

Reconciliation of Assets from Segment to Consolidated

The following table presents Customers’ reported segment assets as of December 31, 2024 and 2023:

Segment assets
			December 31,
(amounts in thousands)			2024						2023
Segment total assets			$	22,308,241					$	21,316,265
Adjustments and reconciling items			—						—
Consolidated total assets			$	22,308,241					$	21,316,265

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

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