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Customers Bancorp: Q4 Earnings Snapshot

WEST READING, Pa. (AP) — WEST READING, Pa. (AP) — Customers Bancorp Inc. (CUBI) on Thursday reported fourth-quarter earnings of $74.5 million.

The bank, based in West Reading, Pennsylvania, said it had earnings of $1.98 per share. Earnings, adjusted for non-recurring costs, were $2.06 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.04 per share.

The bank holding company posted revenue of $387.7 million in the period. Its revenue net of interest expense was $236.9 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $229.8 million.

For the year, the company reported profit of $224.1 million, or $6.26 per share. Revenue was reported as $871.3 million.

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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

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