WEST READING, Pa.--(BUSINESS WIRE)--Customers Bank released its first annual Net Promoter Score, placing us among the top of the financial services industry.
Lately, Customers Bancorp has shown growth in deposits and loans while reducing debt, though revenue and profits have dropped. Shares have risen significantly since my last 'buy' rating, outperforming the S&P 500, and they remain attractively priced. The company's asset quality is decent but not exceptional, yet the valuation metrics make it a compelling investment.
Customers Bancorp's preferred shares are downgraded to hold due to the likelihood of being called amid potential interest rate cuts stalling. The bank's financial results show improved net interest margin and net interest income despite challenges in interest income. Robust loan and deposit growth in 2024, with a modest loan to deposit ratio, supports the bank's financial stability.
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