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SHARE BASED COMPENSATION | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
SHARE BASED COMPENSATION | SHARE-BASED COMPENSATION Customers’ 2019 Plan is administered by the Leadership Development and Compensation Committee of the Board of Directors. At June 30, 2025 and December 31, 2024, the aggregate number of shares of common stock available for grant under the 2019 Plan was 533,513 and 841,513 shares, respectively. Share-based compensation expense relating to stock options and restricted stock units is recognized on a straight-line basis over the vesting periods of the awards and is a component of salaries and employee benefits expense. Total share-based compensation expense for the team members’ incentives for the three months ended June 30, 2025 and 2024 was $4.1 million and $2.9 million, respectively. Total share-based compensation expense for the team members’ incentives for the six months ended June 30, 2025 and 2024 was $8.0 million and $6.4 million, respectively. At June 30, 2025, there was $29.5 million of unrecognized compensation cost related to all non-vested share-based compensation awards. This cost is expected to be recognized through 2029. Restricted Stock Units The fair value of restricted stock units granted under the 2019 Plan is determined based on the closing market price of Customers’ common stock on the date of grant, except for the performance based restricted stock units with market conditions under a long-term incentive compensation plan. There were 59,683 and 73,126 restricted stock units granted under the 2019 Plan during the three months ended June 30, 2025 and 2024, respectively. There were 338,498 and 277,401 restricted stock units granted under the 2019 Plan during the six months ended June 30, 2025 and 2024, respectively. The grants are mostly subject to either a three-year waterfall vesting (with one third of the amount vesting annually) or a three-year cliff vesting, with 41,823 and 39,555 of those units for the three and six months ended June 30, 2025 and 2024, respectively, also subject to the performance metrics, including total shareholder return, return on average common equity, and average NPAs to total assets over a three-year period relative to the performance of its peer group. The performance conditions are considered probable. The tables below present the status of the restricted stock units at June 30, 2025 and 2024, and changes during the three and six months ended June 30, 2025 and 2024:
| Three Months Ended June 30, 2025 |  | Three Months Ended June 30, 2024
| Restricted Stock Units |  | Weighted- Average Grant- Date Fair Value |  | Restricted Stock Units |  | Weighted- Average Grant- Date Fair Value
Outstanding and unvested at April 1, | 980,921 |  |  | $ | 39.18 |  |  | 1,273,595 |  |  | $ | 29.69 |
Granted | 59,683 |  |  | 42.77 |  |  | 73,126 |  |  | 46.03 |
Vested | (167,172) |  |  | 27.25 |  |  | (202,113) |  |  | 24.86 |
Forfeited | (37,489) |  |  | 45.87 |  |  | (63,506) |  |  | 33.09 |
Outstanding and unvested at June 30, | 835,943 |  |  | 41.52 |  |  | 1,081,102 |  |  | 31.50 |
| Six Months Ended June 30, 2025 |  | Six Months Ended June 30, 2024
| Restricted Stock Units |  | Weighted- Average Grant- Date Fair Value |  | Restricted Stock Units |  | Weighted- Average Grant- Date Fair Value
Outstanding and unvested at December 31, | 1,110,122 |  |  | $ | 32.61 |  |  | 1,159,782 |  |  | $ | 26.78 |
Granted | 338,498 |  |  | 49.28 |  |  | 277,401 |  |  | 48.82 |
Vested | (570,949) |  |  | 28.31 |  |  | (286,751) |  |  | 28.46 |
Forfeited | (41,728) |  |  | 45.20 |  |  | (69,330) |  |  | 32.54 |
Outstanding and unvested at June 30, | 835,943 |  |  | 41.52 |  |  | 1,081,102 |  |  | 31.50 |
On July 25, 2025, the Board of Directors of the Company, upon the recommendation of the Leadership Development and Compensation Committee, approved the grant of an incentive award of 225,000 performance-based restricted stock units subject to certain performance conditions under the Company’s 2019 Stock Incentive Plan in connection with an executive appointment. These restricted stock units vest if the executive is employed by the Company as of January 1, 2031 and, at any time during a five-year period commencing on January 1, 2026, the average closing price of the Company’s common stock is, for 20 consecutive trading days, equal to or greater than $125.00.

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