Q2 2026 Customers Bancorp Inc Earnings Call Transcript
Key Points
- Total loans grew 4% in the quarter and 17% year over year, reaching a record $18 billion.
- Total deposits increased by over $140 million, setting a new record at $21.7 billion.
- Non-interest-bearing deposits hit a second consecutive record at $6.9 billion, representing 32% of total deposits.
- Net interest income (NII) increased by 9% year over year.
- Tangible book value per share reached a record $65, up 16% year over year.
- The net interest margin (NIM) for the second quarter was at its lowest point for 2026 at 3.17%.
- Average cash balances were down, impacting net interest income.
- The digital asset trading activity was lower in the second quarter, affecting payments float.
- There was a $600 million remix of less strategic deposits, indicating potential challenges in deposit quality.
- The company is still in the early stages of realizing expense savings from AI initiatives, with full benefits expected by 2027.
Hello, everyone. Thank you for joining us, and welcome to the Customers Bancorp, Inc. second-quarter 2026 earnings webcast. (Operator Instructions)
I will now hand the conference over to Phil Watkins, Executive Vice President, Head of Corporate Development and Investor Relations. Phil, please go ahead.
Thank you, Ellen, and good morning, everyone. Thank you for joining us for the Customers Bancorp's earnings webcast for the second quarter of 2026. We'd like to remind you that today's presentation may contain forward-looking statements, which are subject to uncertainty and changes in circumstances. Actual results may differ materially from management's expectations due to a variety of factors, which are described in our earnings materials and our SEC filings. We also reference non-GAAP financial measures, so it's important to review our GAAP results in the presentation and the reconciliations in the appendix.
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