NYSE$CUBI
Customers Bancorp Inc · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Reported strong results driven by PPP loan originations and solid performance in core businesses.
Customers Bancorp reported a strong second quarter in 2020, with GAAP net income of $19.1 million, or $0.61 per diluted share, up 237% over Q2 2019. The bank originated $5.2 billion in PPP loans, ranking #6 in the nation, and total assets grew by $5.9 billion to $17.9 billion, up 49% in Q2 2020.
- GAAP earnings of $19.1 million, or $0.61 per diluted share, up 51% over Q2 2019.
- Adjusted pre-tax pre-provision net income for Q2 2020 was $50.8 million, an increase of 94% over Q2 2019.
- Total revenues up 49% over Q2 2019.
- Originated $5.2 billion in PPP Loans Ranking #6 in Nation With Approximately 100,000 loans to Small Businesses and Non-Profits.
Headline financials
Revenue & EPS history
Customers Bancorp · Revenue · Quarterly
$114M
Forward guidance
Customers Bancorp is well positioned to execute on its 2020 and 2026 LT strategies.
Tailwinds
- Net interest margin, excluding PPP loans, expected to remain on average between 2.9% and 3.0% for 2020
- Core operating expenses expected to remain flat over next few quarters
- Tax rate expected to be 22% to 23% for 2020
- Excluding PPP loans, balance sheet at year-end 2020 expected to be about the same or moderately higher than at December 31, 2019
- PPP loans expected to add about $100 million (pre-tax) to equity capital
Headwinds
- Rapid recent changes in economic activity introduce uncertainty to near-term profitability
- Provision will be higher
- Most customer activity will slow
- There will be disruptions
- Absent a further deterioration in economic forecasts, management does not expect a material build up in CECL reserves in future quarters
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2020
+1.5%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+4.2%
Avg return
30 days after
61%
37 / 61 earnings
Positive
+23.2%
Q3 2023
Best reaction
-18.9%
Q2 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.5% | -2.1% | -3.5% | |
| Q4 2025 | -7.8% | -5.8% | -10.2% | |
| Q3 2025 | +7.3% | +2.9% | +0.7% | |
| Q2 2025 | -1.2% | -1.3% | +1.8% | |
| Q1 2025 | -2.9% | -0.7% | +0.8% | |
| Q4 2024 | +13.9% | +13.6% | +5.8% | |
| Q3 2024 | +0.0% | +1.7% | +23.6% | |
| Q2 2024 | +9.2% | +2.8% | -16.7% | |
| Q1 2024 | -6.5% | -8.8% | -9.8% | |
| Q4 2023 | +2.6% | +6.3% | -0.8% | |
| Q3 2023 | +23.2% | +24.6% | +39.8% | |
| Q2 2023 | +0.0% | -2.8% | -17.2% | |
| Q1 2023 | +20.8% | +0.8% | +36.5% | |
| Q4 2022 | -15.3% | -11.0% | -1.4% | |
| Q3 2022 | -4.2% | +1.8% | -2.6% | |
| Q2 2022 | -1.4% | -1.9% | -6.2% | |
| Q1 2022 | +5.4% | +3.1% | -0.4% | |
| Q4 2021 | -4.4% | -6.7% | -4.1% | |
| Q3 2021 | +7.4% | +15.3% | +17.8% | |
| Q2 2021 | -1.9% | -3.7% | +15.3% | |
| Q1 2021 | +1.7% | +7.4% | +16.2% | |
| Q4 2020 | +1.3% | +3.0% | +21.7% | |
| Q3 2020 | +5.3% | +8.6% | +36.9% | |
| Q2 2020 | +9.3% | +6.9% | +18.9% | |
| Q1 2020 | -2.6% | -4.5% | +1.4% | |
| Q4 2019 | +6.0% | +3.3% | +0.0% | |
| Q3 2019 | +4.8% | +11.3% | +11.4% | |
| Q2 2019 | -1.8% | +1.6% | -8.2% | |
| Q1 2019 | -2.9% | +0.4% | -7.6% | |
| Q4 2018 | -3.1% | -2.1% | +7.0% | |
| Q3 2018 | +13.3% | +13.1% | +4.6% | |
| Q2 2018 | -10.0% | -12.8% | -13.3% | |
| Q1 2018 | +3.1% | +1.3% | +5.8% | |
| Q4 2017 | +2.9% | -0.5% | +0.6% | |
| Q3 2017 | -7.6% | -10.3% | -14.0% | |
| Q2 2017 | +0.7% | +4.8% | +0.8% | |
| Q1 2017 | +3.5% | +3.9% | -4.5% | |
| Q4 2016 | +0.1% | -1.0% | +0.4% | |
| Q3 2016 | +7.3% | +6.6% | +22.5% | |
| Q2 2016 | -2.9% | -3.9% | -3.4% | |
| Q1 2016 | +2.0% | — | — | |
| Q4 2015 | +6.5% | — | — | |
| Q3 2015 | -2.1% | — | — | |
| Q2 2015 | -18.9% | — | — | |
| Q1 2015 | +3.2% | — | — | |
| Q4 2014 | +3.3% | — | — | |
| Q3 2014 | +4.2% | — | — | |
| Q2 2014 | +4.4% | — | — | |
| Q1 2014 | +0.5% | — | — | |
| Q2 2013 | +0.4% | — | — | |
| Q4 2013 | +0.4% | — | — | |
| Q3 2013 | +1.1% | — | — | |
| Q1 2013 | -1.0% | — | — | |
| Q4 2012 | +1.2% | — | — | |
| Q2 2012 | +1.2% | — | — | |
| Q3 2012 | -8.5% | — | — | |
| Q2 2011 | +0.0% | — | — | |
| Q1 2012 | +13.6% | — | — | |
| Q1 2011 | +13.6% | — | — | |
| Q4 2011 | +0.0% | — | — | |
| Q4 2009 | +0.0% | — | — | |
| Q3 2010 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q3 2011 | — | — | — |
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