Customers Bancorp, Inc. announced its financial results for the fourth quarter and full year 2024. For Q4 2024, GAAP diluted earnings per share were $0.71, and core earnings per share were $1.36. Net income available to common shareholders for the quarter was $23.3 million.
The company reported a net interest margin of 3.11% in Q4 2024, an increase of 5 basis points from the previous quarter, and a 39 basis point reduction in the cost of deposits. Total loans and leases held for investment grew by $671.1 million, an annualized rate of 19%, reaching $14.4 billion.
For the full year 2024, GAAP diluted EPS was $5.09 and core EPS was $5.60. Total loans and leases held for investment grew by $1.6 billion, representing a 12.3% growth rate. Asset quality remained strong, with a non-performing asset ratio of 0.25% of total assets and reserves to non-performing loans at 316%.
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