WEST READING, Pa. (AP) — WEST READING, Pa. (AP) — Customers Bancorp Inc. (CUBI) on Thursday reported first-quarter net income of $12.9 million.
The bank, based in West Reading, Pennsylvania, said it had earnings of 29 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, came to $1.54 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.
The bank holding company posted revenue of $341.7 million in the period. Its revenue net of interest expense was $194.3 million, also beating Street forecasts. Three analysts surveyed by Zacks expected $186.9 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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