Customers Bancorp Updates Earnings Estimates - Quick Facts

(RTTNews) - Customers Bancorp, Inc. (CUBI), the parent company of Customers Bank, provided updated guidance on management's earnings estimates for 2014 and 2015. The company's new earnings per share guidance for 2014 is $1.53, including estimated earnings per share of $0.45 in the fourth quarter of 2014. Previously the company estimated earnings per share for 2014 of $1.49 to $1.53.

Analysts polled by Thomson Reuters expect the company to report 2014 earnings per share of $1.51. Analysts' estimates typically exclude special items.

The company's new earnings per share guidance for 2015 is $1.95 to $2.00. Customers Bancorp previously estimated earnings per share for 2015 of $1.75 to $1.80. Analysts expect the company to report 2015 earnings per share of $1.76.

"Our increased estimate of future earnings reflects our success in executing our single point of contact supported by high tech strategy to provide quality services our customers love at a lower cost than our competitors," said Jay Sidhu, Chairman and CEO of Customers.