Customers Bancorp: 4Q Earnings Snapshot

WYOMISSING, Pa. (AP) _ Customers Bancorp Inc. (CUBI) on Thursday reported fourth-quarter profit of $17.9 million.

The bank, based in Wyomissing, Pennsylvania, said it had earnings of 44 cents per share. Earnings, adjusted for severance costs and non-recurring costs, were 53 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The bank holding company posted revenue of $123.2 million in the period. Its revenue net of interest expense was $81.4 million, which missed Street forecasts. Three analysts surveyed by Zacks expected $82.2 million.

For the year, the company reported profit of $71.7 million, or $1.78 per share. Revenue was reported as $316.9 million.

Customers Bancorp shares have climbed 14 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $20.68, a drop of 32 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CUBI at https://www.zacks.com/ap/CUBI