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Customers Bancorp (CUBI)

Document and Entity Information

Document and Entity Information - shares3 Months Ended
Mar. 31, 2022May 06, 2022
Entity Information [Line Items]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateMar. 31,
2022
Document Transition Reportfalse
Entity File Number001-35542
Entity Registrant NameCustomers Bancorp, Inc.
Entity Incorporation, State or Country CodePA
Entity Tax Identification Number27-2290659
Entity Address, Address Line One701 Reading Avenue
Entity Address, City or TownWest Reading
Entity Address, State or ProvincePA
Entity Address, Postal Zip Code19611
City Area Code610
Local Phone Number933-2000
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding32,981,204
Amendment Flagfalse
Document Fiscal Year Focus2022
Document Fiscal Period FocusQ1
Entity Central Index Key0001488813
Current Fiscal Year End Date--12-31
Voting Common Stock, par value $1.00 per share
Entity Information [Line Items]
Title of 12(b) SecurityVoting Common Stock, par value $1.00 per share
Trading SymbolCUBI
Security Exchange NameNYSE
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E, par value $1.00 per share
Entity Information [Line Items]
Title of 12(b) SecurityFixed-to-Floating Rate Non-Cumulative PerpetualPreferred Stock, Series E, par value $1.00 per share
Trading SymbolCUBI/PE
Security Exchange NameNYSE
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F, par value $1.00 per share
Entity Information [Line Items]
Title of 12(b) SecurityFixed-to-Floating Rate Non-Cumulative PerpetualPreferred Stock, Series F, par value $1.00 per share
Trading SymbolCUBI/PF
Security Exchange NameNYSE
5.375% Subordinated Notes due 2034
Entity Information [Line Items]
Title of 12(b) Security5.375% Subordinated Notes due 2034
Trading SymbolCUBB
Security Exchange NameNYSE

Consolidated Balance Sheet - Un

Consolidated Balance Sheet - Unaudited - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
ASSETS
Cash and due from banks $ 55,515 $ 35,238
Interest earning deposits219,085 482,794
Cash and cash equivalents274,600 518,032
Investment securities, at fair value (includes allowance for credit losses of $728 at March 31, 2022)4,169,853 3,817,150
Loans held for sale (includes $2,496 and $15,747, respectively, at fair value)3,003 16,254
Loans receivable, mortgage warehouse, at fair value1,755,758 2,284,325
Loans receivable, PPP2,195,902 3,250,008
Loans and leases receivable10,118,855 9,018,298
Allowance for credit losses on loans and leases(145,847)(137,804)
Total loans and leases receivable, net of allowance for credit losses on loans and leases13,924,668 14,414,827
FHLB, Federal Reserve Bank, and other restricted stock54,553 64,584
Accrued interest receivable94,669 92,239
Bank premises and equipment, net8,233 8,890
Bank-owned life insurance332,239 333,705
Goodwill and other intangibles3,678 3,736
Other assets298,212 305,611
Total assets19,163,708 19,575,028
Deposits:
Demand, non-interest bearing4,594,428 4,459,790
Interest bearing11,821,132 12,318,134
Total deposits16,415,560 16,777,924
Federal funds purchased700,000 75,000
FHLB advances0 700,000
Other borrowings223,230 223,086
Subordinated debt181,742 181,673
Accrued interest payable and other liabilities265,770 251,128
Total liabilities17,786,302 18,208,811
Commitments and contingencies (NOTE 15)
Shareholders’ equity:
Preferred stock, par value $1.00 per share; liquidation preference $25.00 per share; 100,000,000 shares authorized, 5,700,000 shares issued and outstanding as of March 31, 2022 and December 31, 2021137,794 137,794
Common stock, par value $1.00 per share; 200,000,000 shares authorized; 34,881,580 and 34,721,675 shares issued as of March 31, 2022 and December 31, 2021; 32,957,847 and 32,913,267 shares outstanding as of March 31, 2022 and December 31, 202134,882 34,722
Additional paid in capital542,402 542,391
Retained earnings780,628 705,732
Accumulated other comprehensive income (loss), net(62,548)(4,980)
Treasury stock, at cost (1,923,732 and 1,808,408 shares as of March 31, 2022 and December 31, 2021)(55,752)(49,442)
Total shareholders’ equity1,377,406 1,366,217
Total liabilities and shareholders’ equity $ 19,163,708 $ 19,575,028

Consolidated Balance Sheet - _2

Consolidated Balance Sheet - Unaudited (Parenthetical) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for credit losses $ 728
Loans held for sale at fair value $ 2,496 $ 15,747
Preferred stock, par value (usd per share) $ 1 $ 1
Preferred stock, liquidation preference (usd per share) $ 25 $ 25
Preferred stock, shares authorized (shares)100,000,000 100,000,000
Preferred stock, shares issued (shares)5,700,000 5,700,000
Preferred stock, shares outstanding (shares)5,700,000 5,700,000
Common stock, par value (usd per share) $ 1 $ 1
Common stock, shares authorized (shares)200,000,000 200,000,000
Common stock, shares issued (shares)34,881,580 34,721,675
Common stock, shares outstanding (shares)32,957,847 32,913,267
Treasury stock, shares (shares)1,923,732 1,808,408

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - Unaudited - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Interest income:
Loans and leases $ 157,175 $ 152,117
Investment securities20,295 7,979
Other6,006 1,019
Total interest income183,476 161,115
Interest expense:
Deposits13,712 15,658
FHLB advances0 5,192
Subordinated debt2,689 2,689
FRB PPP liquidity facility, federal funds purchased and other borrowings2,376 4,845
Total interest expense18,777 28,384
Net interest income164,699 132,731
Provision (benefit) for credit losses15,997 (2,919)
Net interest income after provision (benefit) for credit losses148,702 135,650
Non-interest income:
Commercial lease income5,895 5,205
Bank-owned life insurance8,326 1,679
Mortgage warehouse transactional fees2,015 4,247
Gain (loss) on sale of SBA and other loans1,507 1,575
Loan fees2,545 1,436
Mortgage banking income481 463
Gain (loss) on sale of investment securities(1,063)23,566
Unrealized gain (loss) on investment securities(276)974
Unrealized gain (loss) on derivatives964 2,537
Loss on cash flow hedge derivative terminations0 (24,467)
Other(212)305
Total non-interest income21,198 18,468
Non-interest expense:
Salaries and employee benefits26,607 23,971
Technology, communication and bank operations24,068 19,988
Professional services6,956 5,877
Occupancy3,050 2,621
Commercial lease depreciation4,942 4,291
FDIC assessments, non-income taxes and regulatory fees2,383 2,719
Loan servicing2,371 437
Advertising and promotion315 561
Merger and acquisition related expenses0 418
Loan workout(38)(261)
Other3,153 1,305
Total non-interest expense73,807 61,927
Income before income tax expense96,093 92,191
Income tax expense19,332 17,560
Net income from continuing operations76,761 74,631
Loss from discontinued operations before income taxes0 (20,354)
Income tax expense from discontinued operations0 17,682
Net loss from discontinued operations0 (38,036)
Net income76,761 36,595
Preferred stock dividends1,865 3,391
Net income available to common shareholders $ 74,896 $ 33,204
Basic earnings per common share from continuing operations (usd per share) $ 2.27 $ 2.23
Basic earnings per common share (usd per share)2.271.04
Diluted earnings per common share from continuing operations (usd per share)2.182.17
Diluted earnings per common share (usd per share) $ 2.18 $ 1.01
Interchange and card revenue
Non-interest income:
Non-interest income $ 76 $ 85
Deposit fees
Non-interest income:
Non-interest income $ 940 $ 863

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - Unaudited - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income $ 76,761 $ 36,595
Unrealized gains (losses) on available for sale debt securities:
Unrealized gains (losses) arising during the period(78,858)400
Income tax effect20,503 (104)
Reclassification adjustments for (gains) losses included in net income1,063 (23,566)
Income tax effect(276)6,127
Net unrealized gains (losses) on available for sale debt securities(57,568)(17,143)
Unrealized gains (losses) on cash flow hedges:
Unrealized gains (losses) arising during the period0 12,315
Income tax effect0 (3,202)
Reclassification adjustment for (gains) losses included in net income0 25,926
Income tax effect0 (6,741)
Net unrealized gains (losses) on cash flow hedges0 28,298
Other comprehensive income (loss), net of income tax effect(57,568)11,155
Comprehensive income (loss) $ 19,193 $ 47,750

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - Unaudited - USD ($) $ in ThousandsTotalPreferred StockCommon StockAdditional Paid in CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Treasury Stock
Beginning balance, preferred stock (shares) at Dec. 31, 20209,000,000
Beginning balance at Dec. 31, 2020 $ 1,117,086 $ 217,471 $ 32,986 $ 455,592 $ 438,581 $ (5,764) $ (21,780)
Beginning balance, common stock (shares) at Dec. 31, 202031,705,088
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income36,595 36,595
Other comprehensive income (loss)11,155 11,155
Preferred stock dividends[1](3,391)(3,391)
Sale of non-controlling interest in BMT[2]31,893 31,893
Distribution of investment in BM Technologies[3](32,983)(32,983)
Restricted stock awards to certain BMT team members[4]19,592 19,592
Share-based compensation expense3,609 3,609
Issuance of common stock under share-based compensation arrangements (shares)533,674
Issuance of common stock under share-based compensation arrangements5,165 $ 533 4,632
Ending balance, preferred stock (shares) at Mar. 31, 20219,000,000
Ending balance at Mar. 31, 2021 $ 1,188,721 $ 217,471 $ 33,519 515,318 438,802 5,391 (21,780)
Ending balance, common stock (shares) at Mar. 31, 202132,238,762
Beginning balance, preferred stock (shares) at Dec. 31, 20215,700,000 5,700,000
Beginning balance at Dec. 31, 2021 $ 1,366,217 $ 137,794 $ 34,722 542,391 705,732 (4,980)(49,442)
Beginning balance, common stock (shares) at Dec. 31, 202132,913,267 32,913,267
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income $ 76,761 76,761
Other comprehensive income (loss)(57,568)(57,568)
Preferred stock dividends[1](1,865)(1,865)
Share-based compensation expense3,703 3,703
Issuance of common stock under share-based compensation arrangements (shares)159,904
Issuance of common stock under share-based compensation arrangements(3,532) $ 160 (3,692)
Repurchase of common shares (shares)(115,324)
Repurchase of common shares $ (6,310)(6,310)
Ending balance, preferred stock (shares) at Mar. 31, 20225,700,000 5,700,000
Ending balance at Mar. 31, 2022 $ 1,377,406 $ 137,794 $ 34,882 $ 542,402 $ 780,628 $ (62,548) $ (55,752)
Ending balance, common stock (shares) at Mar. 31, 202232,957,847 32,957,847
[1]Dividends per share of $0.333922 and $0.310297 per share were declared on Series E and F preferred stock for the three months ended March 31, 2022. Dividends per share of $0.34478125, $0.40625, $0.403125, and $0.375 per share were declared on Series C, D, E, and F preferred stock for the three months ended March 31, 2021.
[2]Refer to NOTE 3 – DISCONTINUED OPERATIONS for additional information about the sale of non-controlling interest in BMT including the reverse recapitalization of MFAC.
[3]Immediately after the closing of the BMT divestiture, Customers distributed all of its remaining investment in BM Technologies' common stock to its shareholders as special dividends, equivalent to 0.15389 of BM Technologies common stock for each share of Customers common stock. Refer to NOTE 3 – DISCONTINUED OPERATIONS.
[4]At the closing of the BMT divestiture, certain team members of BMT received restricted stock awards in BM Technologies' common stock. Refer to NOTE 3 – DISCONTINUED OPERATIONS.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - Unaudited - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Cash Flows from Operating Activities
Net income from continuing operations $ 76,761 $ 74,631
Adjustments to reconcile net income to net cash provided by (used in) by continuing operating activities:
Provision (benefit) for credit losses15,997 (2,919)
Depreciation and amortization6,055 5,321
Share-based compensation expense3,718 3,082
Deferred taxes(22,810)(6,198)
Net amortization (accretion) of investment securities premiums and discounts918 (14)
Unrealized (gain) loss on investment securities276 (974)
(Gain) loss on sale of investment securities1,063 (23,566)
Unrealized gain (loss) on derivatives(964)(2,537)
Loss on cash flow hedge derivative terminations0 24,467
Settlement of terminated cash flow hedge derivatives0 (27,156)
Fair value adjustment on loans held for sale0 (1,115)
(Gain) loss on sale of loans(2,070)(2,071)
Origination of loans held for sale(10,999)(12,323)
Proceeds from the sale of loans held for sale24,813 17,122
Amortization (accretion) of loan net deferred fees, discounts and premiums(27,907)(345)
Earnings on investment in bank-owned life insurance(8,326)(1,679)
(Increase) decrease in accrued interest receivable and other assets66,855 20,979
Increase (decrease) in accrued interest payable and other liabilities(6,440)135,679
Net Cash Provided By (Used In) Continuing Operating Activities116,940 200,384
Cash Flows from Investing Activities
Proceeds from maturities, calls and principal repayments of investment securities224,809 62,348
Proceeds from sales of investment securities available for sale155,954 353,915
Purchases of investment securities available for sale(814,246)(589,874)
Origination of mortgage warehouse loans(7,938,526)(16,998,093)
Proceeds from repayments of mortgage warehouse loans8,475,173 17,211,909
Net (increase) decrease in loans and leases, excluding mortgage warehouse loans159,706 (486,158)
Proceeds from sales of loans and leases14,281 39,534
Purchase of loans(206,330)(117,036)
Proceeds from bank-owned life insurance5,850 0
Net proceeds from sale of FHLB, Federal Reserve Bank, and other restricted stock15,205 1,948
Purchases of bank premises and equipment(274)(298)
Purchases of leased assets under lessor operating leases(2,930)(4,849)
Net Cash Provided By (Used In) Continuing Investing Activities88,672 (526,654)
Cash Flows from Financing Activities
Net increase (decrease) in deposits(362,364)1,162,511
Net increase (decrease) in short-term borrowed funds from the FHLB(700,000)0
Net increase (decrease) in federal funds purchased625,000 115,000
Net increase (decrease) in borrowed funds from FRB PPP liquidity facility0 (1,130,860)
Preferred stock dividends paid(1,823)(3,401)
Purchase of treasury stock(6,310)0
Payments of employee taxes withheld from share-based awards(3,755)(1,988)
Proceeds from issuance of common stock208 6,684
Proceeds from sale of non-controlling interest in BMT0 23,125
Net Cash Provided By (Used In) Continuing Financing Activities(449,044)171,071
Net Increase (Decrease) in Cash and Cash Equivalents From Continuing Operations(243,432)(155,199)
Discontinued Operations:
Net Cash Used In Operating Activities0 (22,791)
Net Increase (Decrease) in Cash and Cash Equivalents From Discontinued Operations0 (22,791)
Net Increase (Decrease) in Cash and Cash Equivalents(243,432)(177,990)
Cash and Cash Equivalents – Beginning518,032 693,354
Cash and Cash Equivalents – Ending274,600 515,364
Non-cash Investing and Financing Activities:
Distribution of investment in BM Technologies common stock0 32,983
Transfer of loans held for investment to held for sale0 44,258
Unsettled purchases of investment securities $ 0 $ 56,620

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity - Unaudited (Parenthetical)3 Months Ended
Mar. 31, 2021$ / sharesshares
Special dividend (shares) | shares0.15389
Series C Preferred Stock
Preferred stock, dividends, per share, cash paid (usd per share) $ 0.34478125
Series D Preferred Stock
Preferred stock, dividends, per share, cash paid (usd per share)0.40625
Series E Preferred Stock
Preferred stock, dividends, per share, cash paid (usd per share)0.403125
Series F Preferred Stock
Preferred stock, dividends, per share, cash paid (usd per share) $ 0.375

Description of the Business

Description of the Business3 Months Ended
Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the BusinessDESCRIPTION OF THE BUSINESS Customers Bancorp, Inc. (“Customers Bancorp”) is a bank holding company engaged in banking activities through its wholly owned subsidiary, Customers Bank ("the Bank”), collectively referred to as “Customers” herein. Customers Bancorp and its wholly owned subsidiaries, the Bank, and non-bank subsidiaries, serve residents and businesses in Southeastern Pennsylvania (Bucks, Berks, Chester, Philadelphia and Delaware Counties); Harrisburg, Pennsylvania (Dauphin County); Rye Brook, New York (Westchester County); Hamilton, New Jersey (Mercer County); Boston, Massachusetts; Providence, Rhode Island; Portsmouth, New Hampshire (Rockingham County); Manhattan and Melville, New York; Washington, D.C.; Chicago, Illinois; Dallas, Texas; Orlando, Florida; Wilmington, North Carolina; and nationally for certain loan and deposit products. The Bank has 12 full-service branches and provides commercial banking products, primarily loans and deposits. In addition, Customers Bank also administratively supports loan and other financial products, including equipment finance leases, to customers through its limited-purpose offices in Boston, Massachusetts; Providence, Rhode Island; Portsmouth, New Hampshire; Manhattan and Melville, New York; Philadelphia and Lancaster, Pennsylvania; Chicago, Illinois; Dallas, Texas; Orlando, Florida and Wilmington, North Carolina; and other locations. The Bank also serves specialty niche businesses nationwide, including its commercial loans to mortgage banking businesses, commercial equipment financing, SBA lending, specialty lending and consumer loans through relationships with fintech companies. The Bank is subject to regulation of the Pennsylvania Department of Banking and Securities and the Federal Reserve Bank and is periodically examined by those regulatory authorities.

Significant Accounting Policies

Significant Accounting Policies and Basis of Presentation3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies and Basis of PresentationSIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION Basis of Presentation The interim unaudited consolidated financial statements have been prepared in conformity with U.S. GAAP and pursuant to the rules and regulations of the SEC. These interim unaudited consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary to present a fair statement of the financial position and the results of operations and cash flows of Customers Bancorp and subsidiaries for the interim periods presented. Certain information and footnote disclosures normally included in the annual consolidated financial statements have been omitted from these interim unaudited consolidated financial statements as permitted by SEC rules and regulations. The December 31, 2021 consolidated balance sheet presented in this report has been derived from Customers Bancorp’s audited 2021 consolidated financial statements. Management believes that the disclosures are adequate to present fairly the consolidated financial statements as of the dates and for the periods presented. These interim unaudited consolidated financial statements should be read in conjunction with the 2021 consolidated financial statements of Customers Bancorp and subsidiaries included in Customers' Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 28, 2022 (the "2021 Form 10-K"). The 2021 Form 10-K describes Customers Bancorp’s significant accounting policies, which include its policies on Principles of Consolidation; Cash and Cash Equivalents and Statements of Cash Flows; Restrictions on Cash and Amounts due from Banks; Business Combinations; Investment Securities; Loan Accounting Framework; Loans Held for Sale and Loans at Fair Value; Loans Receivable - Mortgage Warehouse, at Fair Value; Loans Receivable, PPP; Loans and Leases Receivable; PCD Loans and Leases; ACL; Goodwill and Other Intangible Assets; FHLB, Federal Reserve Bank, and Other Restricted Stock; OREO; BOLI; Bank Premises and Equipment; Lessor and Lessee Operating Leases; Treasury Stock; Income Taxes; Share-Based Compensation; Transfer of Financial Assets; Derivative Instruments and Hedging; Comprehensive Income (Loss); EPS; and Loss Contingencies. There have been no material changes to Customers Bancorp's significant accounting policies noted above for the three months ended March 31, 2022. Customers Bancorp completed the divestiture of BankMobile Technologies, Inc., the technology arm of its BankMobile segment, to MFAC Merger Sub Inc., an indirect wholly-owned subsidiary of MFAC on January 4, 2021. Following the completion of the divestiture of BMT, BankMobile's serviced deposits and loans and the related net interest income have been combined with Customers’ financial condition and the results of operations as a single reportable segment. BMT's operating results and associated cash flows have been presented as "Discontinued operations" within the accompanying consolidated financial statements and prior period amounts have been reclassified to conform with the current period presentation. See – DISCONTINUED OPERATIONS for additional information. Accounting and Reporting Considerations related to COVID-19 Accounting for PPP Loans In April 2020, Customers began originating loans to qualified small businesses under the PPP administered by the SBA. The PPP loans are fully guaranteed by the SBA and may be eligible for forgiveness by the SBA to the extent the proceeds are used for payroll and other permitted purposes in accordance with the requirements of the PPP. These loans carry a fixed rate of 1.00% and terms of two or five years, if not forgiven, in whole or in part. Payments are deferred for the first six months of the loan. The loans are 100% guaranteed by the SBA. The SBA pays the originating bank a processing fee ranging from 1% to 5% based on the size of the loan. On December 27, 2020, the CAA was signed into law, including Division N, Title III, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, which provided $284 billion in additional funding for the SBA's PPP for small businesses affected by the COVID-19 pandemic. On March 11, 2021, the American Rescue Plan Act of 2021 was enacted expanding eligibility for first and second round of PPP loans and revising the exclusions from payroll costs for purposes of loan forgiveness. The second round of PPP loans have the same general loan terms as the first round, and a processing fee of up to $2,500 per loan of less than $50,000, and 1% to 3% for loans greater than $50,000. Customers classified the PPP loans as held for investment and these loans are carried at amortized cost and interest income is recognized using the interest method. The origination fees, net of direct origination costs, are deferred and recognized as an adjustment to the yield of the related loans over their contractual life using the interest method. Customers has elected to not estimate prepayments as a policy election. No ACL has been recognized for PPP loans as these loans are 100% guaranteed by the SBA. See NOTE 8 – LOANS AND LEASES RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LEASES for additional information. Loan Modifications Section 4013 of the CARES Act, as amended by the CAA, gave entities temporary relief from the accounting and disclosure requirements for TDRs. In addition, on April 7, 2020, certain regulatory banking agencies issued an interagency statement that offered practical expedients for evaluating whether loan modifications in response to the COVID-19 pandemic were TDRs. Customers applied Section 4013 of the CARES Act and the interagency statement in connection with applicable modifications. For modifications that qualified under either the CARES Act or the interagency statement, TDR accounting and reporting was suspended. These modifications generally involved principal and/or interest payment deferrals for a period of 90 days at a time and could be extended to six months or longer for modifications that qualified under the Section 4013 of the CARES Act, as amended, if requested by the borrower as long as the reason was still related to COVID-19. These modified loans were not reported as past due or nonaccrual during the deferral period. See NOTE 8 – LOANS AND LEASES RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LEASES for additional information. Recently Issued Accounting Standards Presented below are recently issued accounting standards that Customers has adopted as well as those that the FASB has issued but are not yet effective. Accounting Standards Adopted in 2022 Standard Summary of Guidance Effects on Financial Statements ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity Issued August 2020 • Provides for simplified accounting for convertible debt instruments by eliminating separation models in ASC 470-20 for convertible debt instruments with a cash conversion feature, or another beneficial conversion feature. • Removes the requirements to consider whether a contract would be settled in registered shares, to consider whether collateral is required to be posted and to assess shareholders rights upon conversion. • Effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. • Customers adopted this guidance on January 1, 2022. ASU 2021-05, Leases (Topic 842): Lessors - Certain Leases with Variable Lease Payments Issued July 2021 • Provides updates for accounting for leases with variable lease payments under ASC 842. • Customers adopted this guidance on January 1, 2022.

Discontinued Operations

Discontinued Operations3 Months Ended
Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued OperationsDISCONTINUED OPERATIONS On January 4, 2021, Customers Bancorp completed the divestiture of BMT, the technology arm of its BankMobile segment, to MFAC Merger Sub Inc., an indirect wholly-owned subsidiary of MFAC, pursuant to an Agreement and Plan of Merger, dated August 6, 2020, by and among MFAC, MFAC Merger Sub Inc., BMT, Customers Bank, the sole stockholder of BMT, and Customers Bancorp, the parent bank holding company for Customers Bank (as amended on November 2, 2020 and December 8, 2020). Following the completion of the divestiture of BMT, BankMobile's serviced deposits and loans and the related net interest income have been combined with Customers' financial condition and the results of operations as a single reportable segment. Customers received cash consideration of $23.1 million upon closing of the divestiture and $3.7 million of additional cash consideration in May 2021. Upon closing of the divestiture, the holders of Customers Bancorp's common stock who held their shares as of the close of business on December 18, 2020 became entitled to receive an aggregate of 4,876,387 shares of BM Technologies' common stock. Customers distributed 0.15389 shares of BM Technologies common stock for each share of Customers Bancorp's common stock held as of the close of business on December 18, 2020 as special dividends. Certain team members of BMT also received 1,348,748 restricted shares of BM Technologies' common stock in the form of severance payments. The total stock consideration from the divestiture that were distributed to holders of Customers Bancorp's common stock and certain BMT team members represented 52% of the outstanding common stock of BM Technologies at the closing date of the divestiture. The sale of BMT was accounted for as a sale of non-controlling interest and the merger between BMT and MFAC was accounted for as a reverse recapitalization as BMT was considered to be the accounting acquirer. Upon closing of the transaction, Customers had no remaining investment in BM Technologies. BMT's historical financial results for periods prior to the divestiture are reflected in Customers Bancorp’s consolidated financial statements as discontinued operations. BMT's operating results and associated cash flows have been presented as "Discontinued operations" within the accompanying consolidated financial statements and prior period amounts have been reclassified to conform with the current period presentation. The following summarized financial information related to BMT has been segregated from continuing operations and reported as discontinued operations for the periods presented. Three Months Ended (amounts in thousands) 2022 2021 Discontinued operations: Non-interest income $ — $ — Non-interest expense — 20,354 Loss from discontinued operations before income taxes — (20,354) Income tax expense (benefit) — 17,682 Net loss from discontinued operations $ — $ (38,036) In connection with the divestiture, Customers entered into various agreements with BM Technologies, including a transition services agreement, software license agreement, deposit servicing agreement, non-competition agreement and loan agreement for periods ranging from one

Earnings (Loss) Per Share

Earnings (Loss) Per Share3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per ShareEARNINGS (LOSS) PER SHARE The following are the components and results of Customers' earnings (loss) per common share calculations for the periods presented. Three Months Ended (amounts in thousands, except share and per share data) 2022 2021 Net income from continuing operations available to common shareholders $ 74,896 $ 71,240 Net loss from discontinued operations — (38,036) Net income available to common shareholders $ 74,896 $ 33,204 Weighted-average number of common shares outstanding – basic 32,957,033 31,883,946 Share-based compensation plans 1,370,032 957,765 Weighted-average number of common shares – diluted 34,327,065 32,841,711 Basic earnings (loss) per common share from continuing operations $ 2.27 $ 2.23 Basic earnings (loss) per common share from discontinued operations — (1.19) Basic earnings (loss) per common share 2.27 1.04 Diluted earnings (loss) per common share from continuing operations $ 2.18 $ 2.17 Diluted earnings (loss) per common share from discontinued operations — (1.16) Diluted earnings (loss) per common share 2.18 1.01 The following are securities that could potentially dilute basic earnings per common share in future periods that were not included in the computation of diluted earnings per common share because either the performance conditions for certain of the share-based compensation awards have not been met or to do so would have been anti-dilutive for the periods presented. Three Months Ended 2022 2021 Anti-dilutive securities: Share-based compensation awards — 277,725

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) By Component3 Months Ended
Mar. 31, 2022
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss) By ComponentCHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) BY COMPONENT The following tables present the changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2022 and 2021. Amounts in parentheses indicate reductions to AOCI. Three Months Ended March 31, 2022 (amounts in thousands) Unrealized Gains (Losses) on Available for Sale Securities (1) Unrealized Gains (Losses) on Cash Flow Hedges (2) Total Balance - December 31, 2021 $ (4,980) $ — $ (4,980) Unrealized gains (losses) arising during period, before tax (78,858) — (78,858) Income tax effect 20,503 — 20,503 Other comprehensive income (loss) before reclassifications (58,355) — (58,355) Reclassification adjustments for (gains) losses included in net income, before tax 1,063 — 1,063 Income tax effect (276) — (276) Amounts reclassified from accumulated other comprehensive income (loss) to net income 787 — 787 Net current-period other comprehensive income (loss) (57,568) — (57,568) Balance - March 31, 2022 $ (62,548) $ — $ (62,548) Three Months Ended March 31, 2021 (amounts in thousands) Unrealized Gains (Losses) on Available for Sale Securities (1) Unrealized Gains (Losses) on Cash Flow Hedges (2) Total Balance - December 31, 2020 $ 23,312 $ (29,076) $ (5,764) Unrealized gains (losses) arising during period, before tax 400 12,315 12,715 Income tax effect (104) (3,202) (3,306) Other comprehensive income (loss) before reclassifications 296 9,113 9,409 Reclassification adjustments for (gains) losses included in net income, before tax (23,566) 25,926 2,360 Income tax effect 6,127 (6,741) (614) Amounts reclassified from accumulated other comprehensive income (loss) to net income (17,439) 19,185 1,746 Net current-period other comprehensive income (loss) (17,143) 28,298 11,155 Balance - March 31, 2021 $ 6,169 $ (778) $ 5,391 (1) Reclassification amounts for AFS debt securities are reported as gain (loss) on sale of investment securities on the consolidated statements of income. (2) Reclassification amounts for cash flow hedges are reported as interest expense for the applicable hedged items or loss on cash flow hedge derivative terminations on the consolidated statements of income.

Investment Securities

Investment Securities3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investment SecuritiesINVESTMENT SECURITIES The amortized cost and approximate fair value of investment securities as of March 31, 2022 and December 31, 2021 are summarized as follows: March 31, 2022 (1) (amounts in thousands) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale debt securities: Asset-backed securities $ 351,847 $ (728) $ 87 $ (7,587) $ 343,619 Agency-guaranteed residential mortgage-backed securities 9,242 — — (973) 8,269 Agency-guaranteed commercial mortgage-backed securities 2,140 — — (95) 2,045 Agency-guaranteed residential collateralized mortgage obligations 618,998 — 833 (16,428) 603,403 Agency-guaranteed commercial collateralized mortgage obligations 172,410 — — (9,811) 162,599 Collateralized loan obligations 1,010,938 — — (6,576) 1,004,362 Commercial mortgage-backed securities 148,993 — — (1,368) 147,625 Corporate notes (2) 607,230 — 1,376 (14,856) 593,750 Private label collateralized mortgage obligations 1,302,400 — — (31,993) 1,270,407 State and political subdivision debt securities (3) 8,531 — — (581) 7,950 Available for sale debt securities $ 4,232,729 $ (728) $ 2,296 $ (90,268) 4,144,029 Equity securities (4) 25,824 Total investment securities, at fair value $ 4,169,853 December 31, 2021 (1) (amounts in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale debt securities: Asset-backed securities $ 297,291 $ 253 $ (119) $ 297,425 Agency-guaranteed residential mortgage-backed securities 9,865 — (312) 9,553 Agency-guaranteed commercial mortgage-backed securities 2,162 — (10) 2,152 Agency-guaranteed residential collateralized mortgage obligations 199,091 154 (2,315) 196,930 Agency-guaranteed commercial collateralized mortgage obligations 242,668 53 (3,877) 238,844 Collateralized loan obligations 1,067,770 247 (1,215) 1,066,802 Commercial mortgage-backed securities 149,054 53 (180) 148,927 Corporate notes (2) 575,273 6,334 (1,561) 580,046 Private label collateralized mortgage obligations 1,248,142 333 (6,010) 1,242,465 State and political subdivision debt securities (3) 8,535 — (104) 8,431 Available for sale debt securities $ 3,799,851 $ 7,427 $ (15,703) 3,791,575 Equity securities (4) 25,575 Total investment securities, at fair value $ 3,817,150 (1) Accrued interest on AFS debt securities totaled $14.3 million and $11.0 million at March 31, 2022 and December 31, 2021, respectively, and is included in accrued interest receivable on the consolidated balance sheet. (2) Includes corporate securities issued by domestic bank holding companies. (3) Includes both taxable and non-taxable municipal securities. (4) Includes perpetual preferred stock issued by domestic banks and domestic bank holding companies and equity securities issued by fintech companies, without a readily determinable fair value, and CRA-qualified mutual fund shares at March 31, 2022 and December 31, 2021. No impairments or measurement adjustments have been recorded on the equity securities without a readily determinable fair value since acquisition. In June 2021, Customers sold all of the outstanding shares in CB Green Ventures Pte Ltd. and CUBI India Ventures Pte Ltd., which held the equity securities issued by a foreign entity, for $3.8 million, and recognized $2.8 million in loss on sale of foreign subsidiaries within non-interest income on the consolidated statement of income. During the three months ended March 31, 2021, Customers recognized unrealized gains of $1.0 million on its equity securities. These unrealized gains and losses are reported as unrealized gain (loss) on investment securities within non-interest income on the consolidated statements of income. Customers' transactions with unconsolidated VIEs include sales of consumer installment loans and investments in the securities issued by the VIEs. Customers is not the primary beneficiary of the VIEs because Customers has no right to make decisions that will most significantly affect the economic performance of the VIEs. Customers' continuing involvement with the unconsolidated VIEs is not significant. Customers' continuing involvement is not considered to be significant where Customers only invests in securities issued by the VIE and was not involved in the design of the VIE or where Customers has transferred financial assets to the VIE for only cash consideration. Customers' investments in the securities issued by the VIEs are classified as AFS debt securities on the consolidated balance sheets, and represent Customers' maximum exposure to loss. Proceeds from the sale of AFS securities were $156.0 million and $353.9 million for the three months ended March 31, 2022 and 2021, respectively. Gross realized gains and realized losses from the sale of AFS debt securities were $2.0 million and $1.0 million for the three months ended March 31, 2022, respectively. Gross realized gains from the sale of AFS debt securities were $23.6 million for the three months ended March 31, 2021. These gains (losses) were determined using the specific identification method and were reported as gain (loss) on sale of investment securities within non-interest income on the consolidated statements of income. The following table presents debt securities by stated maturity. Debt securities backed by mortgages and other assets have expected maturities that differ from contractual maturities because borrowers have the right to call or prepay and, therefore, these debt securities are classified separately with no specific maturity date: March 31, 2022 (amounts in thousands) Amortized Fair Due in one year or less $ 4,992 $ 4,999 Due after one year through five years 419,539 409,141 Due after five years through ten years 191,230 187,560 Asset-backed securities 351,847 343,619 Collateralized loan obligations 1,010,938 1,004,362 Commercial mortgage-backed securities 148,993 147,625 Agency-guaranteed residential mortgage-backed securities 9,242 8,269 Agency-guaranteed commercial mortgage-backed securities 2,140 2,045 Agency-guaranteed residential collateralized mortgage obligations 618,998 603,403 Agency-guaranteed commercial collateralized mortgage obligations 172,410 162,599 Private label collateralized mortgage obligations 1,302,400 1,270,407 Total debt securities $ 4,232,729 $ 4,144,029 Gross unrealized losses and fair value of Customers' AFS debt securities for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2022 and December 31, 2021 were as follows: March 31, 2022 Less Than 12 Months 12 Months or More Total (amounts in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for sale debt securities: Asset-backed securities $ 199,725 $ (3,832) $ — $ — $ 199,725 $ (3,832) Agency-guaranteed residential mortgage-backed securities — — 8,269 (973) 8,269 (973) Agency-guaranteed commercial mortgage-backed securities 2,045 (95) — — 2,045 (95) Agency-guaranteed residential collateralized mortgage obligations 434,524 (16,428) — — 434,524 (16,428) Agency-guaranteed commercial collateralized mortgage obligations 95,995 (3,764) 66,605 (6,047) 162,600 (9,811) Collateralized loan obligations 934,954 (6,457) 25,510 (119) 960,464 (6,576) Commercial mortgage-backed securities 129,365 (1,368) — — 129,365 (1,368) Corporate notes 393,997 (13,972) 14,115 (884) 408,112 (14,856) Private label collateralized mortgage obligations 856,760 (27,386) 42,196 (4,607) 898,956 (31,993) State and political subdivision debt securities 7,950 (581) — — 7,950 (581) Total $ 3,055,315 $ (73,883) $ 156,695 $ (12,630) $ 3,212,010 $ (86,513) December 31, 2021 Less Than 12 Months 12 Months or More Total (amounts in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for sale debt securities: Asset-backed securities $ 54,753 $ (119) $ — $ — $ 54,753 $ (119) Agency-guaranteed residential mortgage-backed securities 9,554 (312) — — 9,554 (312) Agency-guaranteed commercial mortgage-backed securities 2,152 (10) — — 2,152 (10) Agency-guaranteed residential collateralized mortgage obligations 173,492 (2,315) — — 173,492 (2,315) Agency-guaranteed commercial collateralized mortgage obligations 118,334 (3,877) — — 118,334 (3,877) Collateralized loan obligations 715,250 (1,215) — — 715,250 (1,215) Commercial mortgage-backed securities 122,597 (180) — — 122,597 (180) Corporate notes 188,100 (1,561) — — 188,100 (1,561) Private label collateralized mortgage obligations 632,091 (5,874) 6,818 (136) 638,909 (6,010) State and political subdivision debt securities 8,430 (104) — — 8,430 (104) Total $ 2,024,753 $ (15,567) $ 6,818 $ (136) $ 2,031,571 $ (15,703) At March 31, 2022, there were 160 AFS debt securities with unrealized losses in the less-than-twelve-months category and 15 AFS debt securities with unrealized loss in the twelve-months-or-more category. Except for the four asset-backed securities where there was a deterioration in future estimated cash flows as further discussed below, the unrealized losses were principally due to changes in market interest rates that resulted in a negative impact on the respective securities' fair value and are expected to be recovered when market prices recover or at maturity. Customers does not intend to sell any of the 175 securities, and it is not more likely than not that Customers will be required to sell any of the 175 securities before recovery of the amortized cost basis. At December 31, 2021, there were 117 AFS debt securities in an unrealized loss position. Customers recorded an allowance for credit losses on four asset-backed securities where there was a deterioration in future estimated cash flows during the three months ended March 31, 2022. A discounted cash flow approach is used to determine the amount of the allowance. The cash flows expected to be collected, after considering expected prepayments, are discounted at the original effective interest rate. The amount of the allowance is limited to the difference between the amortized cost basis of the security and its estimated fair value. The following table presents the activity in the allowance for credit losses on AFS debt securities, by major security type: Asset-backed securities (amounts in thousands) Three Months Ended March 31, 2022 Balance at January 1, $ — Credit losses on securities for which credit losses were not previously recorded 728 Balance at March 31, $ 728 At March 31, 2022 and December 31, 2021, Customers Bank had pledged investment securities aggregating $16.9 million and $11.3 million in fair value, respectively, as collateral primarily for an unused line of credit with another financial institution. These counterparties do not have the ability to sell or repledge these securities. At March 31, 2022 and December 31, 2021, no securities holding of any one issuer, other than the U.S. government and its agencies, amounted to greater than 10% of shareholders' equity.

Loans Held for Sale

Loans Held for Sale3 Months Ended
Mar. 31, 2022
Receivables Held-for-sale [Abstract]
Loans Held for SaleLOANS HELD FOR SALE The composition of loans held for sale as of March 31, 2022 and December 31, 2021 was as follows: (amounts in thousands) March 31, 2022 December 31, 2021 Consumer loans: Home equity conversion mortgages, at lower of cost or fair value $ 507 $ 507 Residential mortgage loans, at fair value 2,496 15,747 Total consumer loans held for sale 3,003 16,254 Loans held for sale $ 3,003 $ 16,254 Total loans held for sale as of March 31, 2022 and December 31, 2021 included NPLs of $0.5 million.

Loans and Leases Receivable and

Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases3 Months Ended
Mar. 31, 2022
Receivables [Abstract]
Loans and Leases Receivable and Allowance for Credit Losses on Loans and LeasesLOANS AND LEASES RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LEASES The following table presents loans and leases receivable as of March 31, 2022 and December 31, 2021. (amounts in thousands) March 31, 2022 December 31, 2021 Loans and leases receivable, mortgage warehouse, at fair value $ 1,755,758 $ 2,284,325 Loans receivable, PPP 2,195,902 3,250,008 Loans and leases receivable: Commercial: Multi-family 1,705,027 1,486,308 Commercial and industrial (1) 3,995,802 3,424,783 Commercial real estate owner occupied 701,893 654,922 Commercial real estate non-owner occupied 1,140,311 1,121,238 Construction 161,024 198,981 Total commercial loans and leases receivable 7,704,057 6,886,232 Consumer: Residential real estate 466,423 334,730 Manufactured housing 50,669 52,861 Installment 1,897,706 1,744,475 Total consumer loans receivable 2,414,798 2,132,066 Loans and leases receivable 10,118,855 9,018,298 Allowance for credit losses on loans and leases (145,847) (137,804) Total loans and leases receivable, net of allowance for credit losses on loans and leases (2) $ 13,924,668 $ 14,414,827 (1) Includes direct finance equipment leases of $150.7 million and $146.5 million at March 31, 2022 and December 31, 2021, respectively. (2) Includes deferred (fees) costs and unamortized (discounts) premiums, net of $(22.8) million and $(52.0) million at March 31, 2022 and December 31, 2021, respectively. Customers' total loans and leases receivable portfolio includes loans receivable which are reported at fair value based on an election made to account for these loans at fair value and loans and leases receivable which are predominately reported at their outstanding unpaid principal balance, net of charge-offs and deferred costs and fees and unamortized premiums and discounts and are evaluated for impairment. The total amount of accrued interest recorded for total loans was $80.7 million and $81.6 million at March 31, 2022 and December 31, 2021, respectively, and is presented in accrued interest receivable in the consolidated balance sheet. At March 31, 2022 and December 31, 2021, there were $31.8 million and $38.9 million of individually evaluated loans that were collateral-dependent, respectively. Substantially all individually evaluated loans are collateral-dependent and consisted primarily of commercial and industrial, commercial real estate, and residential real estate loans. Collateral-dependent commercial and industrial loans were secured by accounts receivable, inventory and equipment; collateral-dependent commercial real estate loans were secured by commercial real estate assets; and residential real estate loans were secured by residential real estate assets. Loans receivable, mortgage warehouse, at fair value Mortgage warehouse loans consist of commercial loans to mortgage companies. These mortgage warehouse lending transactions are subject to master repurchase agreements. As a result of the contractual provisions, for accounting purposes, control of the underlying mortgage loan has not transferred and the rewards and risks of the mortgage loans are not assumed by Customers. The mortgage warehouse loans are designated as loans held for investment and reported at fair value based on an election made to account for the loans at fair value. Pursuant to the agreements, Customers funds the pipelines for these mortgage lenders by sending payments directly to the closing agents for funded mortgage loans and receives proceeds directly from third party investors when the underlying mortgage loans are sold into the secondary market. The fair value of the mortgage warehouse loans is estimated as the amount of cash initially advanced to fund the mortgage, plus accrued interest and fees, as specified in the respective agreements. The interest rates on these loans are variable, and the lending transactions are short-term, with an average life under 30 days from purchase to sale. The primary goal of these lending transactions is to provide liquidity to mortgage companies. At March 31, 2022 and December 31, 2021, all of Customers' commercial mortgage warehouse loans were current in terms of payment. As these loans are reported at their fair value, they do not have an ACL and are therefore excluded from ACL-related disclosures. Loans receivable, PPP Customers had $2.2 billion and $3.3 billion of PPP loans outstanding as of March 31, 2022 and December 31, 2021, respectively, which are fully guaranteed by the SBA and earn a fixed interest rate of 1.00%. Customers recognized interest income, including origination fees, of $36.9 million and $38.8 million for the three months ended March 31, 2022 and 2021, respectively. PPP loans include an embedded credit enhancement from the SBA, which guarantees 100% of the principal and interest owed by the borrower provided that the SBA's eligibility criteria are met. As a result, the eligible PPP loans do not have an ACL and are therefore excluded from ACL-related disclosures. Loans and leases receivable The following tables summarize loans and leases receivable by loan and lease type and performance status as of March 31, 2022 and December 31, 2021: March 31, 2022 (amounts in thousands) 30-59 Days past due (1) 60-89 Days past due (1) 90 Days or more past due (1) Total past due (1) Loans and leases not past due (2) Total loans and leases (3) Multi-family $ 10,690 $ — $ 16,181 $ 26,871 $ 1,678,156 $ 1,705,027 Commercial and industrial 2,591 92 5,432 8,115 3,987,687 3,995,802 Commercial real estate owner occupied 2,935 — 1,046 3,981 697,912 701,893 Commercial real estate non-owner occupied — — 1,302 1,302 1,139,009 1,140,311 Construction — — — — 161,024 161,024 Residential real estate 5,151 446 4,808 10,405 456,018 466,423 Manufactured housing 975 280 4,488 5,743 44,926 50,669 Installment 7,974 4,868 4,865 17,707 1,879,999 1,897,706 Total $ 30,316 $ 5,686 $ 38,122 $ 74,124 $ 10,044,731 $ 10,118,855 December 31, 2021 (amounts in thousands) 30-59 Days past due (1) 60-89 Days past due (1) 90 Days or more past due (1) Total past due (1) Loans and leases not past due (2) Total loans and leases (3) Multi-family $ 1,682 $ 2,707 $ 18,235 $ 22,624 $ 1,463,684 $ 1,486,308 Commercial and industrial 2,093 95 5,929 8,117 3,416,666 3,424,783 Commercial real estate owner occupied 287 — 1,304 1,591 653,331 654,922 Commercial real estate non-owner occupied — — 2,815 2,815 1,118,423 1,121,238 Construction — — — — 198,981 198,981 Residential real estate 4,655 789 4,390 9,834 324,896 334,730 Manufactured housing 2,308 768 4,949 8,025 44,836 52,861 Installment 7,349 4,295 3,783 15,427 1,729,048 1,744,475 Total $ 18,374 $ 8,654 $ 41,405 $ 68,433 $ 8,949,865 $ 9,018,298 (1) Includes past due loans and leases that are accruing interest because collection is considered probable. (2) Loans and leases where next payment due is less than 30 days from the report date. The tables exclude PPP loans of $2.2 billion, of which $37.8 million were 30-59 days past due and $88.3 million were 60 days or more past due as of March 31, 2022, and PPP loans of $3.3 billion, of which $6.3 million were 30-59 days past due and $21.8 million were 60 days or more past due as of December 31, 2021. Claims for guarantee payments are submitted to the SBA for eligible PPP loans more than 60 days past due. (3) Includes PCD loans of $9.4 million and $9.9 million at March 31, 2022 and December 31, 2021, respectively. Nonaccrual Loans and Leases The following table presents the amortized cost of loans and leases held for investment on nonaccrual status. March 31, 2022 (1) December 31, 2021 (1) (amounts in thousands) Nonaccrual loans with no related allowance Nonaccrual loans with related allowance Total nonaccrual loans Nonaccrual loans with no related allowance Nonaccrual loans with related allowance Total nonaccrual loans Multi-family $ 17,869 $ — $ 17,869 $ 22,654 $ — $ 22,654 Commercial and industrial 5,490 — 5,490 5,837 259 6,096 Commercial real estate owner occupied 2,191 — 2,191 2,475 — 2,475 Commercial real estate non-owner occupied 1,302 — 1,302 2,815 — 2,815 Residential real estate 8,124 — 8,124 7,727 — 7,727 Manufactured housing — 3,430 3,430 — 3,563 3,563 Installment — 4,865 4,865 — 3,783 3,783 Total $ 34,976 $ 8,295 $ 43,271 $ 41,508 $ 7,605 $ 49,113 (1) Presented at amortized cost basis. Interest income recognized on nonaccrual loans was insignificant for the three months ended March 31, 2022 and 2021. Accrued interest reversed when the loans went to nonaccrual status was insignificant during the three months ended March 31, 2022 and 2021, respectively. Allowance for credit losses on loans and leases The changes in the ACL on loans and leases for the three months ended March 31, 2022 and 2021, and the loans and leases and ACL by loan and lease type are presented in the tables below. (amounts in thousands) Multi-family Commercial and industrial Commercial real estate owner occupied Commercial real estate non-owner occupied Construction Residential real estate Manufactured housing Installment Total Three Months Ended March 31, 2022 Ending balance, December 31, 2021 $ 4,477 $ 12,702 $ 3,213 $ 6,210 $ 692 $ 2,383 $ 4,278 $ 103,849 $ 137,804 Charge-offs — (301) — — — (4) — (8,865) (9,170) Recoveries 337 360 7 8 113 6 — 1,113 1,944 Provision (benefit) for credit losses on loans and leases 2,623 (1,996) 621 (263) 134 2,300 64 11,786 15,269 Ending balance, March 31, 2022 $ 7,437 $ 10,765 $ 3,841 $ 5,955 $ 939 $ 4,685 $ 4,342 $ 107,883 $ 145,847 Three Months Ended March 31, 2021 Ending balance, at December 31, 2020 $ 12,620 $ 12,239 $ 9,512 $ 19,452 $ 5,871 $ 3,977 $ 5,190 $ 75,315 $ 144,176 Charge-offs (1,132) (635) (142) — — (50) — (12,687) (14,646) Recoveries — 260 8 10 5 10 — 1,832 2,125 Provision (benefit) for credit losses on loans and leases (3,462) (4,361) (3,443) (7,841) (1,773) (728) (390) 19,079 (2,919) Ending Balance, March 31, 2021 $ 8,026 $ 7,503 $ 5,935 $ 11,621 $ 4,103 $ 3,209 $ 4,800 $ 83,539 $ 128,736 At March 31, 2022, the ACL on loans and leases was $145.8 million, an increase of $8.0 million from the December 31, 2021 balance of $137.8 million. The increase in ACL for the three months ended March 31, 2022 was primarily attributable to the loan growth in the loan portfolio for consumer installment, residential, multi-family and commercial and industrial loans. Troubled Debt Restructurings At March 31, 2022 and December 31, 2021, there were $16.6 million and $16.5 million, respectively, in loans reported as TDRs. TDRs are reported as impaired loans in the quarter of their restructuring and are evaluated to determine whether they should be placed on non- accrual status. In subsequent quarters, a TDR may be returned to accrual status if it satisfies a minimum performance requirement of six months, however, it will remain classified as impaired. Generally, the Bank requires sustained performance for nine months before returning a TDR to accrual status. Customers had no lease receivables that had been restructured as a TDR as of March 31, 2022 and December 31, 2021, respectively. Section 4013 of the CARES Act, as amended by the CAA, gave entities temporary relief from the accounting and disclosure requirements for TDRs. In addition, on April 7, 2020, certain regulatory banking agencies issued an interagency statement that offered practical expedients for evaluating whether loan modifications in response to the COVID-19 pandemic were TDRs. For COVID-19 related loan modifications which met the loan modification criteria under either the CARES Act or the criteria specified by the regulatory agencies, Customers elected to suspend TDR accounting for such loan modifications. There were no commercial deferments related to COVID-19 at March 31, 2022 and December 31, 2021. Consumer deferments related to COVID-19 were $3.3 million and $6.1 million at March 31, 2022 and December 31, 2021, respectively. The following table presents loans modified in a TDR by type of concession for the three months ended March 31, 2022 and 2021. There were no modifications that involved forgiveness of debt for the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 (dollars in thousands) Number of loans Recorded investment Number of loans Recorded investment Interest-rate reductions 10 $ 346 8 $ 184 Other (1) 32 451 20 541 Total 42 $ 797 28 $ 725 (1) Other includes covenant modifications, forbearance, loans discharged under Chapter 7 bankruptcy, or other concessions. As of March 31, 2022 and December 31, 2021, there were no commitments to lend additional funds to debtors whose loans have been modified in TDRs. The following table presents, by loan type, the number of loans modified in TDRs and the related recorded investment, for which there was a payment default within twelve months following the modification: March 31, 2022 March 31, 2021 (dollars in thousands) Number of loans Recorded investment Number of loans Recorded investment Manufactured housing 1 $ 49 3 $ 48 Residential real estate — — 1 56 Installment 23 276 16 250 Total loans 24 $ 325 20 $ 354 Loans modified in TDRs are evaluated for impairment. The nature and extent of impairment of TDRs, including those which have experienced a subsequent default, is considered in the determination of an appropriate level of ACL. Credit Quality Indicators The ACL represents management's estimate of expected losses in Customers' loans and leases receivable portfolio, excluding commercial mortgage warehouse loans reported at fair value pursuant to a fair value option election and PPP loans receivable. Multi-family, commercial and industrial, owner occupied commercial real estate, non-owner occupied commercial real estate, and construction loans are rated based on an internally assigned risk rating system which is assigned at the time of loan origination and reviewed on a periodic, or on an “as needed” basis. Residential real estate loans, manufactured housing and installment loans are evaluated based on the payment activity of the loan. To facilitate the monitoring of credit quality within the multi-family, commercial and industrial, owner occupied commercial real estate, non-owner occupied commercial real estate, and construction loan portfolios, and as an input in the ACL lifetime loss rate model for the commercial and industrial loan portfolio, the Bank utilizes the following categories of risk ratings: pass/satisfactory (includes risk rating 1 through 6), special mention, substandard, doubtful, and loss. The risk rating categories, which are derived from standard regulatory rating definitions, are assigned upon initial approval of credit to borrowers and updated periodically thereafter. Pass ratings, which are assigned to those borrowers who do not have identified potential or well-defined weaknesses and for whom there is a high likelihood of orderly repayment, are updated periodically based on the size and credit characteristics of the borrower. All other categories are updated on a quarterly basis during the month preceding the end of the calendar quarter. While assigning risk ratings involves judgment, the risk-rating process allows management to identify riskier credits in a timely manner and allocate the appropriate resources to manage those loans and leases. The 2021 Form 10-K describes Customers Bancorp’s risk rating grades. Risk ratings are not established for certain consumer loans, including residential real estate, home equity, manufactured housing, and installment loans, mainly because these portfolios consist of a larger number of homogeneous loans with smaller balances. Instead, these portfolios are evaluated for risk mainly based upon aggregate payment history through the monitoring of delinquency levels and trends and are classified as performing and non-performing. The following tables present the credit ratings of loans and leases receivable as of March 31, 2022 and December 31, 2021. Term Loans Amortized Cost Basis by Origination Year as of (amounts in thousands) 2022 2021 2020 2019 2018 Prior Revolving loans amortized cost basis Revolving loans converted to term Total Multi-family loans: Pass $ 385,034 $ 400,699 $ 132,732 $ 22,884 $ 126,850 $ 520,645 $ — $ — $ 1,588,844 Special mention — 1,523 — 5,033 49,200 — — 55,756 Substandard — — — — — 60,427 — — 60,427 Doubtful — — — — — — — — — Total multi-family loans $ 385,034 $ 402,222 $ 132,732 $ 22,884 $ 131,883 $ 630,272 $ — $ — $ 1,705,027 Commercial and industrial loans and leases: Pass $ 1,008,340 $ 627,255 $ 284,982 $ 224,881 $ 57,750 $ 136,853 $ 1,578,024 $ — $ 3,918,085 Special mention — — 57 156 — 36,223 2,524 — 38,960 Substandard 20,400 4,901 4,565 86 1,464 7,341 — 38,757 Doubtful — — — — — — — — — Total commercial and industrial loans and leases $ 1,008,340 $ 647,655 $ 289,940 $ 229,602 $ 57,836 $ 174,540 $ 1,587,889 $ — $ 3,995,802 Commercial real estate owner occupied loans: Pass $ 60,055 $ 210,933 $ 59,025 $ 122,135 $ 60,968 $ 150,564 $ 672 $ — $ 664,352 Special mention — — — 3,010 — 2,302 — — 5,312 Substandard — — — 3,495 9,635 19,099 — — 32,229 Doubtful — — — — — — — — — Total commercial real estate owner occupied loans $ 60,055 $ 210,933 $ 59,025 $ 128,640 $ 70,603 $ 171,965 $ 672 $ — $ 701,893 Commercial real estate non-owner occupied: Pass $ 73,544 $ 135,995 $ 147,873 $ 76,351 $ 65,061 $ 443,165 $ — $ — $ 941,989 Special mention — — 21,572 — 953 6,069 — — 28,594 Substandard — — — 29,184 38,409 102,135 — — 169,728 Doubtful — — — — — — — — — Total commercial real estate non-owner occupied loans $ 73,544 $ 135,995 $ 169,445 $ 105,535 $ 104,423 $ 551,369 $ — $ — $ 1,140,311 Construction: Pass $ 11,779 $ 70,404 $ 13,894 $ 49,175 $ 4,791 $ 9,321 $ 1,660 $ — $ 161,024 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total construction loans $ 11,779 $ 70,404 $ 13,894 $ 49,175 $ 4,791 $ 9,321 $ 1,660 $ — $ 161,024 Total commercial loans and leases receivable $ 1,538,752 $ 1,467,209 $ 665,036 $ 535,836 $ 369,536 $ 1,537,467 $ 1,590,221 $ — $ 7,704,057 Residential real estate loans: Performing $ 8,713 $ 178,623 $ 12,064 $ 31,045 $ 17,126 $ 127,537 $ 84,904 $ — $ 460,012 Non-performing — — — 329 1,138 4,009 935 — 6,411 Total residential real estate loans $ 8,713 $ 178,623 $ 12,064 $ 31,374 $ 18,264 $ 131,546 $ 85,839 $ — $ 466,423 Manufactured housing loans: Performing $ — $ — $ — $ 248 $ 291 $ 46,315 $ — $ — $ 46,854 Non-performing — — — — — 3,815 — — 3,815 Total manufactured housing loans $ — $ — $ — $ 248 $ 291 $ 50,130 $ — $ — $ 50,669 Installment loans: Performing $ 311,579 $ 883,638 $ 325,741 $ 265,764 $ 25,590 $ 2,082 $ 78,600 $ — $ 1,892,994 Non-performing — 1,834 1,065 1,534 83 115 81 — 4,712 Total installment loans $ 311,579 $ 885,472 $ 326,806 $ 267,298 $ 25,673 $ 2,197 $ 78,681 $ — $ 1,897,706 Total consumer loans $ 320,292 $ 1,064,095 $ 338,870 $ 298,920 $ 44,228 $ 183,873 $ 164,520 $ — $ 2,414,798 Loans and leases receivable $ 1,859,044 $ 2,531,304 $ 1,003,906 $ 834,756 $ 413,764 $ 1,721,340 $ 1,754,741 $ — $ 10,118,855 Term Loans Amortized Cost Basis by Origination Year as of December 31, 2021 (amounts in thousands) 2021 2020 2019 2018 2017 Prior Revolving loans amortized cost basis Revolving loans converted to term Total Multi-family loans: Pass $ 403,075 $ 133,452 $ 23,068 $ 209,070 $ 282,663 $ 316,491 $ — $ — $ 1,367,819 Special mention — — — 9,936 18,489 28,776 — — 57,201 Substandard — — — — 38,216 23,072 — — 61,288 Doubtful — — — — — — — — — Total multi-family loans $ 403,075 $ 133,452 $ 23,068 $ 219,006 $ 339,368 $ 368,339 $ — $ — $ 1,486,308 Commercial and industrial loans and leases: Pass $ 974,016 $ 337,045 $ 266,677 $ 86,691 $ 55,536 $ 89,860 $ 1,484,287 $ — $ 3,294,112 Special mention 476 1,408 3,325 4,904 36,252 92 14,662 — 61,119 Substandard 18,786 10,257 9,543 11,586 5,682 6,764 6,934 — 69,552 Doubtful — — — — — — — — — Total commercial and industrial loans and leases $ 993,278 $ 348,710 $ 279,545 $ 103,181 $ 97,470 $ 96,716 $ 1,505,883 $ — $ 3,424,783 Commercial real estate owner occupied loans: Pass $ 213,102 $ 59,348 $ 124,626 $ 60,993 $ 58,073 $ 99,219 $ 672 $ — $ 616,033 Special mention — — 2,876 318 2,044 572 — — 5,810 Substandard — — 3,750 9,682 8,824 10,823 — — 33,079 Doubtful — — — — — — — — — Total commercial real estate owner occupied loans $ 213,102 $ 59,348 $ 131,252 $ 70,993 $ 68,941 $ 110,614 $ 672 $ — $ 654,922 Commercial real estate non-owner occupied: Pass $ 136,897 $ 149,898 $ 95,504 $ 66,040 $ 153,509 $ 310,435 $ — $ — $ 912,283 Special mention — 21,694 11,113 9,373 43,215 20,540 — — 105,935 Substandard — — — 35,846 20,516 46,658 — — 103,020 Doubtful — — — — — — — — — Total commercial real estate non-owner occupied loans $ 136,897 $ 171,592 $ 106,617 $ 111,259 $ 217,240 $ 377,633 $ — $ — $ 1,121,238 Construction: Pass $ 57,105 $ 49,199 $ 77,622 $ 4,828 $ — $ 9,414 $ 813 $ — $ 198,981 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total construction loans $ 57,105 $ 49,199 $ 77,622 $ 4,828 $ — $ 9,414 $ 813 $ — $ 198,981 Total commercial loans and leases receivable $ 1,803,457 $ 762,301 $ 618,104 $ 509,267 $ 723,019 $ 962,716 $ 1,507,368 $ — $ 6,886,232 Residential real estate loans: Performing $ 107,854 $ 8,251 $ 21,096 $ 11,389 $ 6,707 $ 84,035 $ 87,438 $ — $ 326,770 Non-performing — — 335 1,015 669 3,587 2,354 — 7,960 Total residential real estate loans $ 107,854 $ 8,251 $ 21,431 $ 12,404 $ 7,376 $ 87,622 $ 89,792 $ — $ 334,730 Manufactured housing loans: Performing $ — $ — $ 253 $ 299 $ 73 $ 47,537 $ — $ — 48,162 Non-performing — — — — — 4,699 — — 4,699 Total manufactured housing loans $ — $ — $ 253 $ 299 $ 73 $ 52,236 $ — $ — $ 52,861 Installment loans: Performing $ 973,525 $ 390,788 $ 341,582 $ 31,481 $ 1,601 $ 1,016 $ 25 $ — $ 1,740,018 Non-performing 1,162 1,002 2,074 156 2 61 — — 4,457 Total installment loans $ 974,687 $ 391,790 $ 343,656 $ 31,637 $ 1,603 $ 1,077 $ 25 $ — $ 1,744,475 Total consumer loans $ 1,082,541 $ 400,041 $ 365,340 $ 44,340 $ 9,052 $ 140,935 $ 89,817 $ — $ 2,132,066 Loans and leases receivable $ 2,885,998 $ 1,162,342 $ 983,444 $ 553,607 $ 732,071 $ 1,103,651 $ 1,597,185 $ — $ 9,018,298 Loan Purchases and Sales Purchases and sales of loans were as follows for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, (amounts in thousands) 2022 2021 Purchases (1) Residential real estate $ 146,874 $ — Installment (2) 59,456 115,849 Total $ 206,330 $ 115,849 Sales (3) Commercial and industrial $ 8,840 $ 18,931 Commercial real estate owner occupied 5,441 2,237 Commercial real estate non-owner occupied — 18,366 Total $ 14,281 $ 39,534 (1) Amounts reported in the above table are the unpaid principal balance at time of purchase. The purchase price was 98.1% and 101.0% of loans outstanding for the three months ended March 31, 2022 and 2021, respectively. (2) Installment loan purchases for the three months ended March 31, 2022 and 2021 consist of third-party originated unsecured consumer loans. None of the loans are considered sub-prime at the time of origination. Customers considers sub-prime borrowers to be those with FICO scores below 660. (3) For the three months ended March 31, 2022 and 2021, loan sales resulted in net gains of $2.1 million and $1.6 million, respectively, included in gain (loss) on sale of SBA and other loans and mortgage banking income in the consolidated statements of income. Loans Pledged as Collateral Customers has pledged eligible real estate and commercial and industrial loans as collateral for borrowings from the FHLB and FRB in the amount of $3.6 billion and $3.7 billion at March 31, 2022 and December 31, 2021, respectively. No PPP loans were pledged to the FRB in accordance with borrowing from the PPPLF at March 31, 2022 and December 31, 2021.

Leases

Leases3 Months Ended
Mar. 31, 2022
Leases [Abstract]
LeasesLEASES Lessee Customers has operating leases for its branches, certain LPOs, and administrative offices, with remaining lease terms ranging between 3 months and 8 years. These operating leases comprise substantially all of Customers' obligations in which Customers is the lessee. Most lease agreements consist of initial lease terms ranging between 1 and 5 years, with options to renew the leases or extend the term up to 15 years at Customers' sole discretion. Some operating leases include variable lease payments that are based on an index or rate, such as the CPI. Variable lease payments are not included in the liability or ROU asset and are recognized in the period in which the obligation for those payments are incurred. Customers' operating lease agreements do not contain any material residual value guarantees or material restrictive covenants. Pursuant to these agreements, Customers does not have any commitments that would meet the definition of a finance lease. As most of Customers' operating leases do not provide an implicit rate, Customers utilized its incremental borrowing rate when determining the present value of lease payments. The following table summarizes operating lease ROU assets and operating lease liabilities and their corresponding balance sheet location: (amounts in thousands) Classification March 31, 2022 December 31, 2021 ASSETS Operating lease ROU assets Other assets $ 12,364 $ 12,677 LIABILITIES Operating lease liabilities Other liabilities $ 14,003 $ 14,524 The following table summarizes operating lease cost and its corresponding income statement location for the periods presented: Three Months Ended March 31, (amounts in thousands) Classification 2022 2021 Operating lease cost (1) Occupancy expenses $ 998 $ 1,117 (1) There were no variable lease costs for the three months ended March 31, 2022 and 2021, and sublease income for operating leases is immaterial. Maturities of non-cancelable operating lease liabilities were as follows at March 31, 2022: (amounts in thousands) March 31, 2022 2022 $ 3,238 2023 4,018 2024 2,991 2025 2,060 2026 1,125 Thereafter 1,791 Total minimum payments 15,223 Less: interest 1,220 Present value of lease liabilities $ 14,003 Customers does not have leases where it is involved with the construction or design of an underlying asset. Customers has a signed lease that has not yet commenced as of March 31, 2022 with future minimum lease payments of $7.1 million. Cash paid pursuant to the operating lease liability was $1.2 million and $1.1 million for the three months ended March 31, 2022 and 2021, respectively. These payments were reported as cash flows used in operating activities in the statement of cash flows. The following table summarizes the weighted average remaining lease term and discount rate for Customers' operating leases at March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Weighted average remaining lease term (years) Operating leases 4.7 years 3.9 years Weighted average discount rate Operating leases 2.82 % 2.74 % Equipment Lessor CCF is a wholly-owned subsidiary of Customers Bank and is referred to as the Equipment Finance Group. CCF goes to market through the following origination platforms: vendors, intermediaries, direct and capital markets. CCF is primarily focused on serving the following segments: transportation, construction (includes crane and utility), marine, franchise, general manufacturing (includes machine tool), helicopter/fixed wing, solar, packaging, plastics and food processing. Terms typically range from 24 months to 120 months. CCF offers the following products: Loans, Capital Lease, PUT, TRAC, Split-TRAC, and FMV. Direct finance leases are included in commercial and industrial loans and leases receivable. The residual values are established by utilizing internally developed analyses, external studies, and/or third-party appraisals to establish a residual position. Expected credit losses on direct financing leases and the related estimated residual values are included in the ACL on loans and leases. Leased assets under operating leases are carried at amortized cost net of accumulated depreciation and any impairment charges and are presented in other assets. The depreciation expense of the leased assets is recognized on a straight-line basis over the contractual term of the leases up to the expected residual value. The expected residual value and, accordingly, the monthly depreciation expense, may change throughout the term of the lease. Operating lease rental income for leased assets is recognized in commercial lease income on a straight-line basis over the lease term. Customers periodically reviews its operating leased assets for impairment. An impairment loss is recognized if the carrying amount of the operating leased asset exceeds its fair value and is not recoverable. The carrying amount of operating leased assets is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the lease payments and the estimated residual value upon the eventual disposition of the equipment. The following table summarizes lease receivables and investment in operating leases and their corresponding balance sheet location at March 31, 2022 and December 31, 2021: (amounts in thousands) Classification March 31, 2022 December 31, 2021 ASSETS Direct financing leases Lease receivables Loans and leases receivable $ 139,203 $ 134,855 Guaranteed residual assets Loans and leases receivable 11,631 11,397 Unguaranteed residual assets Loans and leases receivable 5,820 5,665 Deferred initial direct costs Loans and leases receivable 623 448 Unearned income Loans and leases receivable (5,917) (5,383) Net investment in direct financing leases $ 151,360 $ 146,982 Operating leases Investment in operating leases Other assets $ 159,177 $ 158,135 Accumulated depreciation Other assets (43,802) (40,749) Deferred initial direct costs Other assets 809 872 Net investment in operating leases 116,184 118,258 Total lease assets $ 267,544 $ 265,240 COVID-19 Impact on Leases Customers granted concessions to lessees as a result of the business impact of the COVID-19 pandemic. Customers had no finance or operating leases with payment deferments at March 31, 2022. At December 31, 2021, the book values of finance and operating leases with payment deferments were $22.8 million and $7.4 million, respectively. The concessions did not have a material impact on interest income from leases for the three months ended March 31, 2022 and 2021. Additionally, Customers did not receive any concessions on its operating leases in which Customers is the lessee.
LeasesLEASES Lessee Customers has operating leases for its branches, certain LPOs, and administrative offices, with remaining lease terms ranging between 3 months and 8 years. These operating leases comprise substantially all of Customers' obligations in which Customers is the lessee. Most lease agreements consist of initial lease terms ranging between 1 and 5 years, with options to renew the leases or extend the term up to 15 years at Customers' sole discretion. Some operating leases include variable lease payments that are based on an index or rate, such as the CPI. Variable lease payments are not included in the liability or ROU asset and are recognized in the period in which the obligation for those payments are incurred. Customers' operating lease agreements do not contain any material residual value guarantees or material restrictive covenants. Pursuant to these agreements, Customers does not have any commitments that would meet the definition of a finance lease. As most of Customers' operating leases do not provide an implicit rate, Customers utilized its incremental borrowing rate when determining the present value of lease payments. The following table summarizes operating lease ROU assets and operating lease liabilities and their corresponding balance sheet location: (amounts in thousands) Classification March 31, 2022 December 31, 2021 ASSETS Operating lease ROU assets Other assets $ 12,364 $ 12,677 LIABILITIES Operating lease liabilities Other liabilities $ 14,003 $ 14,524 The following table summarizes operating lease cost and its corresponding income statement location for the periods presented: Three Months Ended March 31, (amounts in thousands) Classification 2022 2021 Operating lease cost (1) Occupancy expenses $ 998 $ 1,117 (1) There were no variable lease costs for the three months ended March 31, 2022 and 2021, and sublease income for operating leases is immaterial. Maturities of non-cancelable operating lease liabilities were as follows at March 31, 2022: (amounts in thousands) March 31, 2022 2022 $ 3,238 2023 4,018 2024 2,991 2025 2,060 2026 1,125 Thereafter 1,791 Total minimum payments 15,223 Less: interest 1,220 Present value of lease liabilities $ 14,003 Customers does not have leases where it is involved with the construction or design of an underlying asset. Customers has a signed lease that has not yet commenced as of March 31, 2022 with future minimum lease payments of $7.1 million. Cash paid pursuant to the operating lease liability was $1.2 million and $1.1 million for the three months ended March 31, 2022 and 2021, respectively. These payments were reported as cash flows used in operating activities in the statement of cash flows. The following table summarizes the weighted average remaining lease term and discount rate for Customers' operating leases at March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Weighted average remaining lease term (years) Operating leases 4.7 years 3.9 years Weighted average discount rate Operating leases 2.82 % 2.74 % Equipment Lessor CCF is a wholly-owned subsidiary of Customers Bank and is referred to as the Equipment Finance Group. CCF goes to market through the following origination platforms: vendors, intermediaries, direct and capital markets. CCF is primarily focused on serving the following segments: transportation, construction (includes crane and utility), marine, franchise, general manufacturing (includes machine tool), helicopter/fixed wing, solar, packaging, plastics and food processing. Terms typically range from 24 months to 120 months. CCF offers the following products: Loans, Capital Lease, PUT, TRAC, Split-TRAC, and FMV. Direct finance leases are included in commercial and industrial loans and leases receivable. The residual values are established by utilizing internally developed analyses, external studies, and/or third-party appraisals to establish a residual position. Expected credit losses on direct financing leases and the related estimated residual values are included in the ACL on loans and leases. Leased assets under operating leases are carried at amortized cost net of accumulated depreciation and any impairment charges and are presented in other assets. The depreciation expense of the leased assets is recognized on a straight-line basis over the contractual term of the leases up to the expected residual value. The expected residual value and, accordingly, the monthly depreciation expense, may change throughout the term of the lease. Operating lease rental income for leased assets is recognized in commercial lease income on a straight-line basis over the lease term. Customers periodically reviews its operating leased assets for impairment. An impairment loss is recognized if the carrying amount of the operating leased asset exceeds its fair value and is not recoverable. The carrying amount of operating leased assets is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the lease payments and the estimated residual value upon the eventual disposition of the equipment. The following table summarizes lease receivables and investment in operating leases and their corresponding balance sheet location at March 31, 2022 and December 31, 2021: (amounts in thousands) Classification March 31, 2022 December 31, 2021 ASSETS Direct financing leases Lease receivables Loans and leases receivable $ 139,203 $ 134,855 Guaranteed residual assets Loans and leases receivable 11,631 11,397 Unguaranteed residual assets Loans and leases receivable 5,820 5,665 Deferred initial direct costs Loans and leases receivable 623 448 Unearned income Loans and leases receivable (5,917) (5,383) Net investment in direct financing leases $ 151,360 $ 146,982 Operating leases Investment in operating leases Other assets $ 159,177 $ 158,135 Accumulated depreciation Other assets (43,802) (40,749) Deferred initial direct costs Other assets 809 872 Net investment in operating leases 116,184 118,258 Total lease assets $ 267,544 $ 265,240 COVID-19 Impact on Leases Customers granted concessions to lessees as a result of the business impact of the COVID-19 pandemic. Customers had no finance or operating leases with payment deferments at March 31, 2022. At December 31, 2021, the book values of finance and operating leases with payment deferments were $22.8 million and $7.4 million, respectively. The concessions did not have a material impact on interest income from leases for the three months ended March 31, 2022 and 2021. Additionally, Customers did not receive any concessions on its operating leases in which Customers is the lessee.
LeasesLEASES Lessee Customers has operating leases for its branches, certain LPOs, and administrative offices, with remaining lease terms ranging between 3 months and 8 years. These operating leases comprise substantially all of Customers' obligations in which Customers is the lessee. Most lease agreements consist of initial lease terms ranging between 1 and 5 years, with options to renew the leases or extend the term up to 15 years at Customers' sole discretion. Some operating leases include variable lease payments that are based on an index or rate, such as the CPI. Variable lease payments are not included in the liability or ROU asset and are recognized in the period in which the obligation for those payments are incurred. Customers' operating lease agreements do not contain any material residual value guarantees or material restrictive covenants. Pursuant to these agreements, Customers does not have any commitments that would meet the definition of a finance lease. As most of Customers' operating leases do not provide an implicit rate, Customers utilized its incremental borrowing rate when determining the present value of lease payments. The following table summarizes operating lease ROU assets and operating lease liabilities and their corresponding balance sheet location: (amounts in thousands) Classification March 31, 2022 December 31, 2021 ASSETS Operating lease ROU assets Other assets $ 12,364 $ 12,677 LIABILITIES Operating lease liabilities Other liabilities $ 14,003 $ 14,524 The following table summarizes operating lease cost and its corresponding income statement location for the periods presented: Three Months Ended March 31, (amounts in thousands) Classification 2022 2021 Operating lease cost (1) Occupancy expenses $ 998 $ 1,117 (1) There were no variable lease costs for the three months ended March 31, 2022 and 2021, and sublease income for operating leases is immaterial. Maturities of non-cancelable operating lease liabilities were as follows at March 31, 2022: (amounts in thousands) March 31, 2022 2022 $ 3,238 2023 4,018 2024 2,991 2025 2,060 2026 1,125 Thereafter 1,791 Total minimum payments 15,223 Less: interest 1,220 Present value of lease liabilities $ 14,003 Customers does not have leases where it is involved with the construction or design of an underlying asset. Customers has a signed lease that has not yet commenced as of March 31, 2022 with future minimum lease payments of $7.1 million. Cash paid pursuant to the operating lease liability was $1.2 million and $1.1 million for the three months ended March 31, 2022 and 2021, respectively. These payments were reported as cash flows used in operating activities in the statement of cash flows. The following table summarizes the weighted average remaining lease term and discount rate for Customers' operating leases at March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Weighted average remaining lease term (years) Operating leases 4.7 years 3.9 years Weighted average discount rate Operating leases 2.82 % 2.74 % Equipment Lessor CCF is a wholly-owned subsidiary of Customers Bank and is referred to as the Equipment Finance Group. CCF goes to market through the following origination platforms: vendors, intermediaries, direct and capital markets. CCF is primarily focused on serving the following segments: transportation, construction (includes crane and utility), marine, franchise, general manufacturing (includes machine tool), helicopter/fixed wing, solar, packaging, plastics and food processing. Terms typically range from 24 months to 120 months. CCF offers the following products: Loans, Capital Lease, PUT, TRAC, Split-TRAC, and FMV. Direct finance leases are included in commercial and industrial loans and leases receivable. The residual values are established by utilizing internally developed analyses, external studies, and/or third-party appraisals to establish a residual position. Expected credit losses on direct financing leases and the related estimated residual values are included in the ACL on loans and leases. Leased assets under operating leases are carried at amortized cost net of accumulated depreciation and any impairment charges and are presented in other assets. The depreciation expense of the leased assets is recognized on a straight-line basis over the contractual term of the leases up to the expected residual value. The expected residual value and, accordingly, the monthly depreciation expense, may change throughout the term of the lease. Operating lease rental income for leased assets is recognized in commercial lease income on a straight-line basis over the lease term. Customers periodically reviews its operating leased assets for impairment. An impairment loss is recognized if the carrying amount of the operating leased asset exceeds its fair value and is not recoverable. The carrying amount of operating leased assets is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the lease payments and the estimated residual value upon the eventual disposition of the equipment. The following table summarizes lease receivables and investment in operating leases and their corresponding balance sheet location at March 31, 2022 and December 31, 2021: (amounts in thousands) Classification March 31, 2022 December 31, 2021 ASSETS Direct financing leases Lease receivables Loans and leases receivable $ 139,203 $ 134,855 Guaranteed residual assets Loans and leases receivable 11,631 11,397 Unguaranteed residual assets Loans and leases receivable 5,820 5,665 Deferred initial direct costs Loans and leases receivable 623 448 Unearned income Loans and leases receivable (5,917) (5,383) Net investment in direct financing leases $ 151,360 $ 146,982 Operating leases Investment in operating leases Other assets $ 159,177 $ 158,135 Accumulated depreciation Other assets (43,802) (40,749) Deferred initial direct costs Other assets 809 872 Net investment in operating leases 116,184 118,258 Total lease assets $ 267,544 $ 265,240 COVID-19 Impact on Leases Customers granted concessions to lessees as a result of the business impact of the COVID-19 pandemic. Customers had no finance or operating leases with payment deferments at March 31, 2022. At December 31, 2021, the book values of finance and operating leases with payment deferments were $22.8 million and $7.4 million, respectively. The concessions did not have a material impact on interest income from leases for the three months ended March 31, 2022 and 2021. Additionally, Customers did not receive any concessions on its operating leases in which Customers is the lessee.

Borrowings

Borrowings3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]
BorrowingsBORROWINGS Short-term debt Short-term debt at March 31, 2022 and December 31, 2021 was as follows: March 31, 2022 December 31, 2021 (dollars in thousands) Amount Rate Amount Rate FHLB advances $ — — % $ 700,000 0.26 % Federal funds purchased 700,000 0.40 % 75,000 0.05 % Total short-term debt $ 700,000 $ 775,000 The following is a summary of additional information relating to Customers' short-term debt: (dollars in thousands) March 31, 2022 (1) December 31, 2021 (2) FHLB advances Maximum outstanding at any month end $ — $ 850,000 Average balance during the period 127,778 264,704 Weighted-average interest rate during the period 0.32 % 2.35 % Federal funds purchased Maximum outstanding at any month end 700,000 365,000 Average balance during the period 88,611 22,110 Weighted-average interest rate during the period 0.33 % 0.07 % (1) For the three months ended March 31, 2022. (2) For the year ended December 31, 2021. At March 31, 2022 and December 31, 2021, Customers Bank had aggregate availability under federal funds lines totaling $0.7 billion and $1.3 billion, respectively. Long-term debt FHLB and FRB advances There were no long-term advances outstanding with the FHLB or FRB at March 31, 2022 and December 31, 2021. Beginning in second quarter 2020, Customers began participating in the PPPLF, in which Federal Reserve Banks extend non-recourse loans to institutions that are eligible to make PPP loans. Only PPP loans that are guaranteed by the SBA under the PPP, with respect to both principal and interest that are originated or purchased by an eligible institution, may be pledged as collateral to the Federal Reserve Banks. During the three months ended September 30, 2021, Customers repaid the PPPLF advances. No new advances are available from the PPPLF after July 30, 2021. The maximum borrowing capacity with the FHLB and FRB at March 31, 2022 and December 31, 2021 was as follows: (amounts in thousands) March 31, 2022 December 31, 2021 Total maximum borrowing capacity with the FHLB $ 3,337,211 $ 2,973,635 Total maximum borrowing capacity with the FRB (1) 214,908 183,052 Qualifying loans serving as collateral against FHLB and FRB advances (1) 4,218,252 3,594,339 (1) Amounts reported in the above table exclude borrowings under the PPPLF, which are limited to the unpaid principal balance of the loans originated under the PPP. Customers had no borrowings under the PPPLF at March 31, 2022 and December 31, 2021. Senior and Subordinated Debt Long-term senior notes and subordinated debt at March 31, 2022 and December 31, 2021 were as follows: March 31, 2022 December 31, 2021 (dollars in thousands) Issued by Ranking Carrying Amount Carrying Amount Rate Issued Amount Date Issued Maturity Price Customers Bancorp Senior (1) $ 99,844 $ 98,642 2.875 % $ 100,000 August 2021 August 2031 100.000 % Customers Bancorp Senior 24,702 24,672 4.500 % 25,000 September 2019 September 2024 100.000 % Customers Bancorp Senior 98,684 99,772 3.950 % 100,000 June 2017 June 2022 99.775 % Total other borrowings $ 223,230 $ 223,086 Customers Bancorp Subordinated (2)(3) $ 72,448 $ 72,403 5.375 % $ 74,750 December 2019 December 2034 100.000 % Customers Bank Subordinated (2)(4) 109,294 109,270 6.125 % 110,000 June 2014 June 2029 100.000 % Total subordinated debt $ 181,742 $ 181,673 (1) The senior notes will bear an annual fixed rate of 2.875% until August 15, 2026. From August 15, 2026 until maturity, the notes will bear an annual interest rate equal to a benchmark rate, which is expected to be the three-month term SOFR, plus 235 basis points. Customers Bancorp has the ability to call the senior notes, in whole, or in part, at a redemption price equal to 100% of the principal balance at certain times on or after August 15, 2026. (2) The subordinated notes qualify as Tier 2 capital for regulatory capital purposes. (3) Customers Bancorp has the ability to call the subordinated notes, in whole, or in part, at a redemption price equal to 100% of the principal balance at certain times on or after December 30, 2029. (4) The subordinated notes will bear an annual fixed rate of 6.125% until June 26, 2024. From June 26, 2024 until maturity, the notes will bear an annual interest rate equal to the three-month LIBOR plus 344.3 basis points. Customers Bank has the ability to call the subordinated notes, in whole, or in part, at a redemption price equal to 100% of the principal balance at certain times on or after June 26, 2024.

Shareholders' Equity

Shareholders' Equity3 Months Ended
Mar. 31, 2022
Equity [Abstract]
SHAREHOLDERS’ EQUITYSHAREHOLDERS’ EQUITY Common Stock On August 25, 2021, the Board of Directors of Customers Bancorp authorized the Share Repurchase Program to repurchase up to 3,235,326 shares of the Company's common stock (representing 10% of the Company’s outstanding shares of common stock on June 30, 2021). The term of the Share Repurchase Program will extend for one year from September 27, 2021, unless earlier terminated. Purchases of shares under the Share Repurchase Program may be executed through open market purchases, privately negotiated transactions, through the use of Rule 10b5-1 plans, or otherwise. The exact number of shares, timing for such purchases, and the price and terms at and on which such purchases are to be made will be at the discretion of the Company and will comply with all applicable regulatory limitations. Customers Bancorp purchased 115,324 shares of its common stock for $6.3 million under the Share Repurchase Program on various dates during the three months ended March 31, 2022. Preferred Stock As of March 31, 2022, Customers Bancorp has two series of preferred stock outstanding. On September 15, 2021, Customers redeemed all of the outstanding shares of Series C and Series D Preferred Stock for an aggregate payment of $82.5 million, at a redemption price of $25.00 per share. The redemption price paid in excess of the carrying value of Series C and Series D Preferred Stock of $2.8 million is included as a loss on redemption of preferred stock in the consolidated statement of income for the three months ended September 30, 2021. After giving effect to the redemption, no shares of the Series C and Series D Preferred Stock remained outstanding. The table below summarizes Customers' issuances of preferred stock and the dividends paid per share. (amounts in thousands except share and per share data) Shares at Carrying value at Initial Fixed Rate Date at which dividend rate becomes floating and earliest redemption date Floating rate of Three-Month LIBOR Plus: Dividend Paid Per Share in 2022 (1) Fixed-to-floating rate: Issue Date March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Series E April 28, 2016 2,300,000 2,300,000 $ 55,593 $ 55,593 6.45 % June 15, 2021 5.140 % $ 0.33 Series F September 16, 2016 3,400,000 3,400,000 82,201 82,201 6.00 % December 15, 2021 4.762 % $ 0.31 Totals 5,700,000 5,700,000 $ 137,794 $ 137,794 (1) For the three months ended March 31, 2022. On March 15, 2021, Series D Preferred Stock became floating at three-month LIBOR plus 5.09%, compared to a fixed rate of 6.50%. On June 15, 2021, the Series E Preferred Stock became floating at three-month LIBOR plus 5.14%, compared to a fixed rate of 6.45%. On December 15, 2021, the Series F Preferred Stock became floating at three-month LIBOR plus 4.762%, compared to a fixed rate of 6.00%.

Regulatory Capital

Regulatory Capital3 Months Ended
Mar. 31, 2022
Regulatory Capital [Abstract]
Regulatory CapitalREGULATORY CAPITAL The Bank and the Bancorp are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet the minimum capital requirements can result in certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on Customers' financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank and the Bancorp must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items, as calculated under the regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies. In first quarter 2020, U.S federal banking regulatory agencies permitted banking organizations to phase-in, for regulatory capital purposes, the day-one impact of the new CECL accounting rule on retained earnings over a period of three years. As part of its response to the impact of COVID-19, on March 31, 2020, the U.S. federal banking regulatory agencies issued an interim final rule that provided the option to temporarily delay certain effects of CECL on regulatory capital for two years, followed by a three-year transition period. The interim final rule allows banking organizations to delay for two years 100% of the day-one impact of adopting CECL and 25% of the cumulative change in the reported allowance for credit losses since adopting CECL. Customers has elected to adopt the interim final rule, which is reflected in the regulatory capital data presented below. The cumulative CECL capital transition impact as of December 31, 2021 which amounted to $61.6 million will be phased in at 25% per year beginning on January 1, 2022 through December 31, 2024. As of March 31, 2022, our regulatory capital ratios reflected 75%, or $46.2 million, benefit associated with the CECL transition provisions. In April 2020, the U.S. federal banking regulatory agencies issued an interim final rule that permits banks to exclude the impact of participating in the SBA PPP program in their regulatory capital ratios. Specifically, PPP loans are zero percent risk weighted and a bank can exclude all PPP loans pledged as collateral to the PPPLF from its average total consolidated assets for purposes of calculating the Tier 1 capital to average assets ratio (i.e. a leverage ratio). Customers applied this regulatory guidance in the calculation of its regulatory capital ratios presented below. Quantitative measures established by regulation to ensure capital adequacy require the Bank and the Bancorp to maintain minimum amounts and ratios (set forth in the following table) of common equity Tier 1, Tier 1, and total capital to risk-weighted assets, and Tier 1 capital to average assets (as defined in the regulations). At March 31, 2022 and December 31, 2021, the Bank and the Bancorp satisfied all capital requirements to which they were subject. Generally, to comply with the regulatory definition of adequately capitalized, or well capitalized, respectively, or to comply with the Basel III capital requirements, an institution must at least maintain the common equity Tier 1, Tier 1 and total risk-based capital ratios and the Tier 1 leverage ratio in excess of the related minimum ratios as set forth in the following table: Minimum Capital Levels to be Classified as: Actual Adequately Capitalized Well Capitalized Basel III Compliant (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of March 31, 2022: Common equity Tier 1 capital (to risk-weighted assets) Customers Bancorp, Inc. $ 1,344,684 9.893 % $ 611,629 4.500 % N/A N/A $ 951,423 7.000 % Customers Bank $ 1,573,796 11.598 % $ 610,658 4.500 % $ 882,062 6.500 % $ 949,913 7.000 % Tier 1 capital (to risk-weighted assets) Customers Bancorp, Inc. $ 1,482,477 10.907 % $ 815,505 6.000 % N/A N/A $ 1,155,299 8.500 % Customers Bank $ 1,573,796 11.598 % $ 814,211 6.000 % $ 1,085,615 8.000 % $ 1,153,466 8.500 % Total capital (to risk-weighted assets) Customers Bancorp, Inc. $ 1,749,655 12.873 % $ 1,087,340 8.000 % N/A N/A $ 1,427,134 10.500 % Customers Bank $ 1,768,525 13.032 % $ 1,085,615 8.000 % $ 1,357,019 10.000 % $ 1,424,870 10.500 % Tier 1 capital (to average assets) Customers Bancorp, Inc. $ 1,482,477 7.723 % $ 767,836 4.000 % N/A N/A $ 767,836 4.000 % Customers Bank $ 1,573,796 8.211 % $ 766,712 4.000 % $ 958,391 5.000 % $ 766,712 4.000 % As of December 31, 2021: Common equity Tier 1 capital (to risk-weighted assets) Customers Bancorp, Inc. $ 1,291,270 9.981 % $ 582,179 4.500 % N/A N/A $ 905,611 7.000 % Customers Bank $ 1,526,583 11.825 % $ 580,943 4.500 % $ 839,140 6.500 % $ 903,689 7.000 % Tier 1 capital (to risk-weighted assets) Customers Bancorp, Inc. $ 1,429,063 11.046 % $ 776,238 6.000 % N/A N/A $ 1,099,671 8.500 % Customers Bank $ 1,526,583 11.825 % $ 774,591 6.000 % $ 1,032,788 8.000 % $ 1,097,337 8.500 % Total capital (to risk-weighted assets) Customers Bancorp, Inc. $ 1,667,395 12.888 % $ 1,034,984 8.000 % N/A N/A $ 1,358,417 10.500 % Customers Bank $ 1,692,512 13.110 % $ 1,032,788 8.000 % $ 1,290,985 10.000 % $ 1,355,534 10.500 % Tier 1 capital (to average assets) Customers Bancorp, Inc. $ 1,429,063 7.413 % $ 771,084 4.000 % N/A N/A $ 771,084 4.000 % Customers Bank $ 1,526,583 7.925 % $ 770,528 4.000 % $ 963,160 5.000 % $ 770,528 4.000 % The Basel III Capital Rules require that we maintain a 2.500% capital conservation buffer with respect to each of common equity Tier 1, Tier 1 and total capital to risk-weighted assets, which provides for capital levels that exceed the minimum risk-based capital adequacy requirements. A financial institution with a conservation buffer of less than the required amount is subject to limitations on capital distributions, including dividend payments and stock repurchases, and certain discretionary bonus payments to executive officers.

Disclosures About Fair Value of

Disclosures About Fair Value of Financial Instruments3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]
Disclosures About Fair Value of Financial InstrumentsDISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS Customers uses fair value measurements to record fair value adjustments to certain assets and liabilities and to disclose the fair value of its financial instruments. ASC 825, Financial Instruments , requires disclosure of the estimated fair value of an entity’s assets and liabilities considered to be financial instruments. For Customers, as for most financial institutions, the majority of its assets and liabilities are considered to be financial instruments. Many of these instruments lack an available trading market as characterized by a willing buyer and a willing seller engaging in an exchange transaction. For fair value disclosure purposes, Customers utilized certain fair value measurement criteria under ASC 820, Fair Value Measurements and Disclosures ("ASC 820"), as explained below. In accordance with ASC 820, the fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for Customers' various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. The fair value guidance provides a consistent definition of fair value, focusing on an exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. The fair value guidance also establishes a fair value hierarchy and describes the following three levels used to classify fair value measurements. Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. Level 3: Prices or valuation techniques that require adjustments to inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity). A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The following methods and assumptions were used to estimate the fair values of Customers' financial instruments as of March 31, 2022 and December 31, 2021: Financial Instruments Recorded at Fair Value on a Recurring Basis Investment securities: The fair values of equity securities with a readily determinable fair value, AFS debt securities and debt securities reported at fair value based on a fair value option election are determined by obtaining quoted market prices on nationally recognized and foreign securities exchanges (Level 1), quoted prices in markets that are not active (Level 2), matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices, or internally and externally developed models that use unobservable inputs due to limited or no market activity of the instrument (Level 3). When quoted market prices are not available, Customers employs an independent pricing service that utilizes matrix pricing to calculate fair value. Such fair value measurements consider observable data such as dealer quotes, market spreads, cash flows, yield curves, live trading levels, trade execution data, market consensus prepayments speeds, credit information, and respective terms and conditions for debt instruments. Management maintains procedures to monitor the pricing service's results and has an established process to challenge their valuations, or methodologies, that appear unusual or unexpected. Customers also utilizes internally and externally developed models that use unobservable inputs due to limited or no market activity of the instrument. These models use unobservable inputs that are inherently judgmental and reflect our best estimates of the assumptions a market participant would use to calculate fair value. Certain unobservable inputs in isolation may have either a directionally consistent or opposite impact on the fair value of the instrument for a given change in that input. When multiple inputs are used within the valuation techniques, a change in one input in a certain direction may be offset by an opposite change from another input. These assets are classified as Level 1, 2 or 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. Loans held for sale - Residential mortgage loans (fair value option): Customers generally estimates the fair values of residential mortgage loans held for sale based on commitments on hand from investors within the secondary market for loans with similar characteristics. These assets are classified as Level 2 fair values, based upon the lowest level of input that is significant to the fair value measurements. Loans receivable - Commercial mortgage warehouse loans (fair value option): The fair value of commercial mortgage warehouse loans is the amount of cash initially advanced to fund the mortgage, plus accrued interest and fees, as specified in the respective agreements. The loan is used by mortgage companies as short-term bridge financing between the funding of the mortgage loans and the finalization of the sale of the loans to an investor. Changes in fair value are not generally expected to be recognized because at inception of the transaction the underlying mortgage loans have already been sold to an approved investor. Additionally, the interest rate is variable, and the transaction is short-term, with an average life of under 30 days from purchase to sale. These assets are classified as Level 2 fair values, based upon the lowest level of input that is significant to the fair value measurements. Derivatives (assets and liabilities): The fair values of interest rate swaps, interest rate caps and credit derivatives are determined using models that incorporate readily observable market data into a market standard methodology. This methodology nets the discounted future cash receipts and the discounted expected cash payments. The discounted variable cash receipts and payments are based on expectations of future interest rates derived from observable market interest rate curves. In addition, fair value is adjusted for the effect of nonperformance risk by incorporating credit valuation adjustments for Customers and its counterparties. These assets and liabilities are classified as Level 2 fair values, based upon the lowest level of input that is significant to the fair value measurements. The fair values of the residential mortgage loan commitments are derived from the estimated fair values that can be generated when the underlying mortgage loan is sold in the secondary market. Customers generally uses commitments on hand from third party investors to estimate an exit price and adjusts for the probability of the commitment being exercised based on Customers' internal experience (i.e., pull-through rate). These assets and liabilities are classified as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. Derivative assets and liabilities are presented in "Other assets" and "Accrued interest payable and other liabilities" on the consolidated balance sheet. Financial Instruments Recorded at Fair Value on a Nonrecurring Basis Collateral-dependent loans: Collateral-dependent loans are those loans that are accounted for under ASC 326, Financial Instruments - Credit Losses ("ASC 326"), in which the Bank has measured impairment generally based on the fair value of the loan’s collateral or DCF analysis. Fair value is generally determined based upon independent third-party appraisals of the properties that collateralize the loans, DCF based upon the expected proceeds, sales agreements or letters of intent with third parties. These assets are generally classified as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. The following information should not be interpreted as an estimate of Customers' fair value in its entirety because fair value calculations are only provided for a limited portion of Customers' assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making these estimates, comparisons between Customers' disclosures and those of other companies may not be meaningful. The estimated fair values of Customers' financial instruments at March 31, 2022 and December 31, 2021 were as follows. Fair Value Measurements at March 31, 2022 (amounts in thousands) Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Cash and cash equivalents $ 274,600 $ 274,600 $ 274,600 $ — $ — Debt securities, available for sale 4,144,029 4,144,029 — 4,022,176 121,853 Loans held for sale 3,003 3,003 — 2,496 507 Total loans and leases receivable, net of allowance for credit losses on loans and leases 13,924,668 13,571,137 — 1,755,758 11,815,379 FHLB, Federal Reserve Bank and other restricted stock 46,040 46,040 — 46,040 — Derivatives 21,954 21,954 — 21,805 149 Liabilities: Deposits $ 16,415,560 $ 16,343,932 $ 15,969,368 $ 374,564 $ — Federal funds purchased 700,000 700,000 700,000 — — Other borrowings 223,230 219,130 — 219,130 — Subordinated debt 181,742 196,482 — 196,482 — Derivatives 18,370 18,370 — 18,370 — Fair Value Measurements at December 31, 2021 (amounts in thousands) Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Cash and cash equivalents $ 518,032 $ 518,032 $ 518,032 $ — $ — Debt securities, available for sale 3,791,575 3,791,575 — 3,648,690 142,885 Loans held for sale 16,254 16,254 — 15,747 507 Total loans and leases receivable, net of allowance for credit losses on loans and leases 14,414,827 14,207,811 — 2,284,325 11,923,486 FHLB, Federal Reserve Bank and other restricted stock 64,584 64,584 — 64,584 — Derivatives 27,295 27,295 — 27,116 179 Liabilities: Deposits $ 16,777,924 $ 16,777,236 $ 16,270,586 $ 506,650 $ — Federal funds purchased 75,000 75,000 75,000 — — FHLB advances 700,000 700,000 — 700,000 — Other borrowings 223,086 226,585 — 226,585 — Subordinated debt 181,673 204,782 — 204,782 — Derivatives 26,544 26,544 — 26,544 — For financial assets and liabilities measured at fair value on a recurring and nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at March 31, 2022 and December 31, 2021 were as follows: March 31, 2022 Fair Value Measurements at the End of the Reporting Period Using (amounts in thousands) Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Measured at Fair Value on a Recurring Basis: Assets Available for sale debt securities: Asset-backed securities $ — $ 221,766 $ 121,853 $ 343,619 Agency-guaranteed residential mortgage-backed securities — 8,269 — 8,269 Agency-guaranteed commercial mortgage-backed securities — 2,045 — 2,045 Agency-guaranteed residential collateralized mortgage obligations — 603,403 — 603,403 Agency-guaranteed commercial collateralized mortgage obligations — 162,599 — 162,599 Collateralized loan obligations — 1,004,362 — 1,004,362 Commercial mortgage-backed securities — 147,625 — 147,625 Corporate notes — 593,750 — 593,750 Private label collateralized mortgage obligations — 1,270,407 — 1,270,407 State and political subdivision debt securities — 7,950 — 7,950 Derivatives — 21,805 149 21,954 Loans held for sale – fair value option — 2,496 — 2,496 Loans receivable, mortgage warehouse – fair value option — 1,755,758 — 1,755,758 Total assets – recurring fair value measurements $ — $ 5,802,235 $ 122,002 $ 5,924,237 Liabilities Derivatives $ — $ 18,370 $ — $ 18,370 Measured at Fair Value on a Nonrecurring Basis: Assets Collateral-dependent loans $ — $ — $ 2,485 $ 2,485 Total assets – nonrecurring fair value measurements $ — $ — $ 2,485 $ 2,485 December 31, 2021 Fair Value Measurements at the End of the Reporting Period Using (amounts in thousands) Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Measured at Fair Value on a Recurring Basis: Assets Available for sale debt securities: Asset-backed securities $ — $ 154,540 $ 142,885 $ 297,425 Agency-guaranteed residential mortgage–backed securities — 9,553 — 9,553 Agency-guaranteed commercial mortgage–backed securities — 2,152 — 2,152 Agency-guaranteed residential collateralized mortgage obligations — 196,930 — 196,930 Agency-guaranteed commercial collateralized mortgage obligations — 238,844 — 238,844 Collateralized loan obligations — 1,066,802 — 1,066,802 Commercial mortgage-backed securities — 148,927 — 148,927 Corporate notes — 580,046 — 580,046 Private label collateralized mortgage obligations — 1,242,465 — 1,242,465 State and political subdivision debt securities — 8,431 — 8,431 Derivatives — 27,116 179 27,295 Loans held for sale – fair value option — 15,747 — 15,747 Loans receivable, mortgage warehouse – fair value option — 2,284,325 — 2,284,325 Total assets – recurring fair value measurements $ — $ 5,975,878 $ 143,064 $ 6,118,942 Liabilities Derivatives $ — $ 26,544 $ — $ 26,544 Measured at Fair Value on a Nonrecurring Basis: Assets Collateral-dependent loans $ — $ — $ 5,121 $ 5,121 Total assets – nonrecurring fair value measurements $ — $ — $ 5,121 $ 5,121 The changes in residential mortgage loan commitments (Level 3 assets) measured at fair value on a recurring basis for the three months ended March 31, 2022 and 2021 are summarized in the tables below. Additional information about residential mortgage loan commitments can be found in NOTE 14 – DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES. Residential Mortgage Loan Commitments Three Months Ended March 31, (amounts in thousands) 2022 2021 Balance at January 1, $ 179 $ 200 Issuances 149 196 Settlements (179) (200) Balance at March 31, $ 149 $ 196 The changes in asset-backed securities (Level 3 assets) measured at fair value on a recurring basis for the three months ended March 31, 2022 are summarized in the tables below. Asset-backed securities (amounts in thousands) Three Months Ended March 31, 2022 Balance at January 1, $ 142,885 Principal payments (16,349) Credit losses (728) Change in fair value recognized in OCI (3,955) Balance at March 31, $ 121,853 There were no transfers between levels during the three months ended March 31, 2022 and 2021. The following table summarizes financial assets and financial liabilities measured at fair value as of March 31, 2022 and December 31, 2021 on a recurring and nonrecurring basis for which Customers utilized Level 3 inputs to measure fair value. The unobservable Level 3 inputs noted below contain a level of uncertainty that may differ from what is realized in an immediate settlement of the assets. Therefore, Customers may realize a value higher or lower than the current estimated fair value of the assets. Quantitative Information about Level 3 Fair Value Measurements (amounts in thousands) Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (4) March 31, 2022 Asset-backed securities $ 121,853 Discounted cash flow Discount rate Annualized loss rate Constant prepayment rate 4% - 6% (4%) 7% - 8% (8%) 16% - 30% (19%) Collateral-dependent loans – real estate 1,809 Collateral appraisal (1) Liquidation expenses (2) 5% - 5% (5%) Collateral-dependent loans – commercial and industrial 676 Collateral appraisal (1) Business asset valuation (3) Liquidation expenses (2) Business asset valuation adjustments (4) 8% - 26% (13%) 25% - 27% (26%) Residential mortgage loan commitments 149 Adjusted market bid Pull-through rate 69% - 88% (82%) Quantitative Information about Level 3 Fair Value Measurements (amounts in thousands) Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (4) December 31, 2021 Asset-backed securities $ 142,885 Discounted cash flow Discount rate Annualized loss rate Constant prepayment rate 4% - 5% (5%) 4% - 4% (4%) 17% - 33% (19%) Collateral-dependent loans – real estate 4,170 Collateral appraisal (1) Liquidation expenses (2) 8% - 8% (8%) Collateral-dependent loans – commercial and industrial 951 Collateral appraisal (1) Business asset valuation (3) Liquidation expenses (2) Business asset valuation adjustments (4) 8% - 26% (12%) 20% - 20% (20%) Residential mortgage loan commitments 179 Adjusted market bid Pull-through rate 76% - 89% (85%) (1) Obtained from approved independent appraisers. Appraisals are current and in compliance with credit policy. Customers does not generally discount appraisals. Fair value is also estimated based on sale agreements or letters of intent with third parties. (2) Appraisals are adjusted by management for liquidation expenses. The range and weighted average of liquidation expense adjustments are presented as a percentage of the appraisal. (3) Business asset valuation obtained from independent party. (4) Business asset valuations may be adjusted by management for qualitative factors including economic conditions and the condition of the business assets. The range and weighted average of the business asset adjustments are presented as a percent of the business asset valuation.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging ActivitiesDERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Risk Management Objectives of Using Derivatives Customers is exposed to certain risks arising from both its business operations and economic conditions. Customers manages economic risks, including interest rate, liquidity and credit risk, primarily by managing the amount, sources, and durations of its assets and liabilities. Specifically, Customers enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the values of which are determined by interest rates. Customers’ derivative financial instruments are used to manage differences in the amount, timing, and duration of Customers’ known or expected cash receipts and its known or expected cash payments principally related to certain borrowings and deposits. Customers also has interest-rate derivatives resulting from an accommodation provided to certain qualifying customers, and therefore, they are not used to manage Customers’ interest-rate risk in assets or liabilities. Customers manages a matched book with respect to its derivative instruments used in this customer service in order to minimize its net risk exposure resulting from such transactions. Cash Flow Hedges of Interest-Rate Risk Customers’ objectives in using interest-rate derivatives are to add stability to interest expense and to manage exposure to interest rate movements. To accomplish this objective, Customers primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for Customers making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The changes in the fair value of derivatives designated and qualifying as cash flow hedges are recorded in AOCI and subsequently reclassified into earnings in the period that the hedged item affects earnings. To date, such derivatives were used to hedge the variable cash flows associated with the forecasted issuances of debt and a certain variable-rate deposit relationship. Customers discontinues cash flow hedge accounting if it is probable the forecasted hedged transactions will not occur in the initially identified time period. At such time, the associated gains and losses deferred in AOCI are reclassified immediately into earnings and any subsequent changes in the fair value of such derivatives are recognized directly in earnings. During the three months ended March 31, 2021, Customers terminated four interest rate derivatives with notional amounts totaling $850 million that were designated as cash flow hedges of interest-rate risk associated with 3-month FHLB advances, and reclassified $25.9 million of the realized losses and accrued interest from AOCI to current earnings because the hedged forecasted transactions were determined to be no longer probable of occurring. Customers hedged its exposure to the variability in future cash flows for a variable-rate deposit, which matured in June 2021. At March 31, 2022 and December 31, 2021, Customers had no interest rate derivative designated as cash flow hedges of interest rate risk. Fair Value Hedges of Benchmark Interest-Rate Risk Customers is exposed to changes in the fair value of certain of its fixed rate AFS debt securities due to changes in the benchmark interest rate. Customers uses interest rate swaps to manage its exposure to changes in fair value on these instruments attributable to changes in the designated benchmark interest rate such as the Fed Funds Effective Swap Rate. Interest rate swaps designated as fair value hedges involve the payment of fixed-rate amounts to a counterparty in exchange for Customers receiving variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in interest income. At March 31, 2022, Customers had 14 outstanding interest rate derivatives with notional amounts totaling $64.0 million that were designated as fair value hedges of certain AFS debt securities. During the three months ended March 31, 2022, Customers terminated two interest rate derivatives with notional amounts totaling $16.5 million that were designated as fair value hedges together with the sale of hedged AFS debt securities. During the three months ended March 31, 2021, Customers terminated seven interest rate derivatives with notional amounts totaling $186.8 million that were designated as fair value hedges together with the sale of hedged AFS debt securities. At December 31, 2021, Customers had 16 outstanding interest rate derivatives with notional amounts totaling $80.5 million designated as fair value hedges. As of March 31, 2022, the following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustments for fair value hedges. Amortized Cost Cumulative Amount of Fair Value Hedging Adjustment to Hedged Items (amounts in thousands) March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 AFS debt securities $ 64,000 $ 80,500 $ 3,653 $ 1,750 Derivatives Not Designated as Hedging Instruments Customers executes interest rate swaps (typically the loan customers will swap a floating-rate loan for a fixed-rate loan) and interest rate caps with commercial banking customers to facilitate their respective risk management strategies. The customer interest rate swaps and interest rate caps are simultaneously offset by interest rate swaps and interest rate caps that Customers executes with a third party in order to minimize interest-rate risk exposure resulting from such transactions. As the interest rate swaps and interest rate caps associated with this program do not meet the hedge accounting requirements, changes in the fair value of both the customer swaps and caps and the offsetting third-party market swaps and caps are recognized directly in earnings. At March 31, 2022, Customers had 153 interest rate swaps with an aggregate notional amount of $1.4 billion and 14 interest rate caps with an aggregated notional amount of $263.2 million related to this program. At December 31, 2021, Customers had 153 interest rate swaps with an aggregate notional amount of $1.4 billion and 14 interest rate caps with an aggregate notional amount of $264.7 million related to this program. Customers enters into residential mortgage loan commitments in connection with its consumer mortgage banking activities to fund mortgage loans at specified rates and times in the future. These commitments are short-term in nature and generally expire in 30 to 60 days. The residential mortgage loan commitments that relate to the origination of mortgage loans that will be held for sale are considered derivative instruments under applicable accounting guidance and are reported at fair value, with changes in fair value recorded directly in earnings. At March 31, 2022 and December 31, 2021, Customers had an outstanding notional balance of residential mortgage loan commitments of $6.4 million and $8.2 million, respectively. Customers has also purchased and sold credit derivatives to either hedge or participate in the performance risk associated with some of its counterparties. These derivatives are not designated as hedging instruments and are reported at fair value, with changes in fair value reported directly in earnings. At March 31, 2022 and December 31, 2021, Customers had outstanding notional balances of credit derivatives of $129.1 million and $129.9 million, respectively. Fair Value of Derivative Instruments on the Balance Sheet The following tables present the fair value of Customers' derivative financial instruments as well as their presentation on the consolidated balance sheets as of March 31, 2022 and December 31, 2021. March 31, 2022 Derivative Assets Derivative Liabilities (amounts in thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as fair value hedges: Interest rate swaps Other assets $ 3,653 Other liabilities $ — Total $ 3,653 $ — Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 16,007 Other liabilities $ 16,158 Interest rate caps Other assets 2,090 Other liabilities 2,090 Credit contracts Other assets 55 Other liabilities 122 Residential mortgage loan commitments Other assets 149 Other liabilities — Total $ 18,301 $ 18,370 December 31, 2021 Derivative Assets Derivative Liabilities (amounts in thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as fair value hedges: Interest rate swaps Other assets $ 1,750 Other liabilities $ — Total $ 1,750 $ — Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 24,747 Other liabilities $ 25,855 Interest rate caps Other assets 488 Other liabilities 488 Credit contracts Other assets 131 Other liabilities 201 Residential mortgage loan commitments Other assets 179 Other liabilities — Total $ 25,545 $ 26,544 Effect of Derivative Instruments on Net Income The following table presents amounts included in the consolidated statements of income related to derivatives designated as fair value hedges and derivatives not designated as hedges for the three months ended March 31, 2022 and 2021. Amount of Income (Loss) Recognized in Earnings Three Months Ended March 31, (amounts in thousands) Income Statement Location 2022 2021 Derivatives designated as fair value hedges: Recognized on interest rate swaps Net interest income $ 2,521 $ 4,907 Recognized on hedged AFS debt securities Net interest income (2,521) (4,907) Total $ — $ — Derivatives not designated as hedging instruments: Interest rate swaps Other non-interest income $ 961 $ 2,399 Interest rate caps Other non-interest income — — Credit contracts Other non-interest income 3 137 Residential mortgage loan commitments Mortgage banking income (31) (4) Total $ 933 $ 2,532 Effect of Derivative Instruments on Comprehensive Income The following table presents the effect of Customers' derivative financial instruments on comprehensive income for the three months ended March 31, 2022 and 2021. Amount of Gain (Loss) Recognized in OCI on Derivatives (1) Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Three Months Ended March 31, Three Months Ended (amounts in thousands) 2022 2021 2022 2021 Derivatives in cash flow hedging relationships: Interest rate swaps $ — $ 9,113 Interest expense $ — $ (1,459) Other non-interest income (2) — (24,467) $ — $ (25,926) (1) Amounts presented are net of taxes. See NOTE 5 – CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) for the total effect on other comprehensive income (loss) from derivatives designated as cash flow hedges for the periods presented. (2) Includes loss on cash flow hedge derivative terminations. Credit-risk-related Contingent Features By entering into derivative contracts, Customers is exposed to credit risk. The credit risk associated with derivatives executed with customers is the same as that involved in extending the related loans and is subject to the same standard credit policies. To mitigate the credit-risk exposure to major derivative dealer counterparties, Customers only enters into agreements with those counterparties that maintain credit ratings of high quality or with central clearing parties. Agreements with major derivative dealer counterparties contain provisions whereby default on any of Customers' indebtedness would be considered a default on its derivative obligations. Customers also has entered into agreements that contain provisions under which the counterparty could require Customers to settle its obligations if Customers fails to maintain its status as a well/adequately capitalized institution. As of March 31, 2022, the fair value of derivatives in a net asset position (which includes accrued interest but excludes any adjustment for nonperformance-risk) related to these agreements was $9.6 million. In addition, Customers, which has collateral posting thresholds with certain of these counterparties, had posted $4.1 million of cash as collateral at March 31, 2022. Customers records cash posted as collateral with these counterparties, except with a central clearing entity, as a reduction in the outstanding balance of cash and cash equivalents and an increase in the balance of other assets. Disclosures about Offsetting Assets and Liabilities The following tables present derivative instruments that are subject to enforceable master netting arrangements. Customers' interest rate swaps and interest rate caps with institutional counterparties are subject to master netting arrangements and are included in the tables below. Interest rate swaps and interest rate caps with commercial banking customers and residential mortgage loan commitments are not subject to master netting arrangements and are excluded from the tables below. Customers has not made a policy election to offset its derivative positions. Gross Amounts Recognized on the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheet (amounts in thousands) Financial Instruments Cash Collateral Received/(Posted) Net Amount March 31, 2022 Interest rate derivative assets with institutional counterparties $ 6,546 $ — $ — $ 6,546 Interest rate derivative liabilities with institutional counterparties $ 4,115 $ — $ (4,115) $ — Gross Amounts Recognized on the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheet (amounts in thousands) Financial Instruments Cash Collateral Received/(Posted) Net Amount December 31, 2021 Interest rate derivative assets with institutional counterparties $ — $ — $ — $ — Interest rate derivative liabilities with institutional counterparties $ 23,348 $ — $ (23,348) $ —

Loss Contingencies

Loss Contingencies3 Months Ended
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Loss ContingenciesLOSS CONTINGENCIES Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are any such matters that will have a material effect on the consolidated financial statements that are not currently accrued for. However, in light of the uncertainties inherent in these matters, it is possible that the ultimate resolution may have a material adverse effect on Customers’ results of operations for a particular period, and future changes in circumstances or additional information could result in accruals or resolution in excess of established accruals, which could adversely affect Customers’ results of operations, potentially materially. Specialty’s Café Bakery, Inc. Matter On May 27, 2020, the appointed Chapter 7 Trustee for Specialty’s Café Bakery, Inc. (“Debtor”) filed a voluntary petition for relief under Chapter 7 of the Bankruptcy Code in the United States Bankruptcy Court for the Central District of California. On October 28, 2020, the Trustee, as plaintiff, filed her amended adversary complaint (“Adversary Complaint”) against the Bank and the SBA seeking to avoid and recover for the benefit of the Debtor’s estate and its creditors the payment made by the Debtor to the Bank in the amount of $8.1 million in satisfaction of a PPP loan made by the Bank to the Debtor (the “PPP Loan Payment”). The Trustee sought to avoid and recover the entire PPP Loan Payment from the Bank under the authority provided in 11 U.S.C. §547 and §550, which together permit a trustee of a bankruptcy debtor to avoid and recover, for a more equitable distribution among all creditors, certain transfers made within ninety (90) days before the filing of the bankruptcy petition. On December 2, 2021, the Bank filed a motion for summary judgement, arguing that the Trustee had failed to establish the elements under 11 U.S.C. §547 necessary to recover the PPP Loan Payment and other affirmative defenses to any such recovery. On February 2, 2022, the United States Bankruptcy Court for the Central District of California granted the Bank’s motion for summary judgment, finding that the PPP Loan Payment was not recoverable by the Trustee. The Trustee has elected not to appeal this decision and, on February 23, 2022, the case against the Bank was closed by the United States Bankruptcy Court for the Central District of California.

Significant Accounting Polici_2

Significant Accounting Policies and Basis of Presentation (Policies)3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]
Basis of PresentationBasis of Presentation The interim unaudited consolidated financial statements have been prepared in conformity with U.S. GAAP and pursuant to the rules and regulations of the SEC. These interim unaudited consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary to present a fair statement of the financial position and the results of operations and cash flows of Customers Bancorp and subsidiaries for the interim periods presented. Certain information and footnote disclosures normally included in the annual consolidated financial statements have been omitted from these interim unaudited consolidated financial statements as permitted by SEC rules and regulations. The December 31, 2021 consolidated balance sheet presented in this report has been derived from Customers Bancorp’s audited 2021 consolidated financial statements. Management believes that the disclosures are adequate to present fairly the consolidated financial statements as of the dates and for the periods presented. These interim unaudited consolidated financial statements should be read in conjunction with the 2021 consolidated financial statements of Customers Bancorp and subsidiaries included in Customers' Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 28, 2022 (the "2021 Form 10-K"). The 2021 Form 10-K describes Customers Bancorp’s significant accounting policies, which include its policies on Principles of Consolidation; Cash and Cash Equivalents and Statements of Cash Flows; Restrictions on Cash and Amounts due from Banks; Business Combinations; Investment Securities; Loan Accounting Framework; Loans Held for Sale and Loans at Fair Value; Loans Receivable - Mortgage Warehouse, at Fair Value; Loans Receivable, PPP; Loans and Leases Receivable; PCD Loans and Leases; ACL; Goodwill and Other Intangible Assets; FHLB, Federal Reserve Bank, and Other Restricted Stock; OREO; BOLI; Bank Premises and Equipment; Lessor and Lessee Operating Leases; Treasury Stock; Income Taxes; Share-Based Compensation; Transfer of Financial Assets; Derivative Instruments and Hedging; Comprehensive Income (Loss); EPS; and Loss Contingencies. There have been no material changes to Customers Bancorp's significant accounting policies noted above for the three months ended March 31, 2022.
Recently Issued Accounting Standards and Accounting Standards Issued But Not Yet AdoptedRecently Issued Accounting Standards Presented below are recently issued accounting standards that Customers has adopted as well as those that the FASB has issued but are not yet effective. Accounting Standards Adopted in 2022 Standard Summary of Guidance Effects on Financial Statements ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity Issued August 2020 • Provides for simplified accounting for convertible debt instruments by eliminating separation models in ASC 470-20 for convertible debt instruments with a cash conversion feature, or another beneficial conversion feature. • Removes the requirements to consider whether a contract would be settled in registered shares, to consider whether collateral is required to be posted and to assess shareholders rights upon conversion. • Effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. • Customers adopted this guidance on January 1, 2022. ASU 2021-05, Leases (Topic 842): Lessors - Certain Leases with Variable Lease Payments Issued July 2021 • Provides updates for accounting for leases with variable lease payments under ASC 842. • Customers adopted this guidance on January 1, 2022. Accounting Standards Issued But Not Yet Adopted Standard Summary of Guidance Effects on Financial Statements ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures Issued March 2022 • Eliminates the accounting guidance for TDRs by creditors, and applies the loan refinancing and restructuring guidance when a borrower is experiencing financial difficulty to determine whether a modification results in a new loan or a continuation of an existing loan. • Provides enhanced disclosure requirements for certain loan refinancing and restructurings and disclosure of current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of ASC 326. • Effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period, provided the amendments are adopted as of the beginning of the fiscal year that includes the interim period of adoption. Early adoption is permitted separately for the amendments to TDRs and vintage disclosures. • TDR and vintage disclosures are to be adopted prospectively. An entity may adopt TDR recognition and measurement guidance prospectively or elect to use a modified retrospective transition method, with a cumulative effect adjustment to retained earnings at the beginning of the period of adoption. • Customers expects this guidance will result in additional disclosures related to gross write-offs by vintage year and expansive disclosures for certain loan modifications to borrowers experiencing financial difficulty.
Fair Value MeasurementCustomers uses fair value measurements to record fair value adjustments to certain assets and liabilities and to disclose the fair value of its financial instruments. ASC 825, Financial Instruments , requires disclosure of the estimated fair value of an entity’s assets and liabilities considered to be financial instruments. For Customers, as for most financial institutions, the majority of its assets and liabilities are considered to be financial instruments. Many of these instruments lack an available trading market as characterized by a willing buyer and a willing seller engaging in an exchange transaction. For fair value disclosure purposes, Customers utilized certain fair value measurement criteria under ASC 820, Fair Value Measurements and Disclosures ("ASC 820"), as explained below. In accordance with ASC 820, the fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for Customers' various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. The fair value guidance provides a consistent definition of fair value, focusing on an exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. The fair value guidance also establishes a fair value hierarchy and describes the following three levels used to classify fair value measurements. Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. Level 3: Prices or valuation techniques that require adjustments to inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity). A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.
DerivativesRisk Management Objectives of Using Derivatives Customers is exposed to certain risks arising from both its business operations and economic conditions. Customers manages economic risks, including interest rate, liquidity and credit risk, primarily by managing the amount, sources, and durations of its assets and liabilities. Specifically, Customers enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the values of which are determined by interest rates. Customers’ derivative financial instruments are used to manage differences in the amount, timing, and duration of Customers’ known or expected cash receipts and its known or expected cash payments principally related to certain borrowings and deposits. Customers also has interest-rate derivatives resulting from an accommodation provided to certain qualifying customers, and therefore, they are not used to manage Customers’ interest-rate risk in assets or liabilities. Customers manages a matched book with respect to its derivative instruments used in this customer service in order to minimize its net risk exposure resulting from such transactions. Cash Flow Hedges of Interest-Rate Risk Customers’ objectives in using interest-rate derivatives are to add stability to interest expense and to manage exposure to interest rate movements. To accomplish this objective, Customers primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for Customers making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The changes in the fair value of derivatives designated and qualifying as cash flow hedges are recorded in AOCI and subsequently reclassified into earnings in the period that the hedged item affects earnings. To date, such derivatives were used to hedge the variable cash flows associated with the forecasted issuances of debt and a certain variable-rate deposit relationship.

Significant Accounting Polici_3

Significant Accounting Policies and Basis of Presentation (Tables)3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting PrinciplesPresented below are recently issued accounting standards that Customers has adopted as well as those that the FASB has issued but are not yet effective. Accounting Standards Adopted in 2022 Standard Summary of Guidance Effects on Financial Statements ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity Issued August 2020 • Provides for simplified accounting for convertible debt instruments by eliminating separation models in ASC 470-20 for convertible debt instruments with a cash conversion feature, or another beneficial conversion feature. • Removes the requirements to consider whether a contract would be settled in registered shares, to consider whether collateral is required to be posted and to assess shareholders rights upon conversion. • Effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. • Customers adopted this guidance on January 1, 2022. ASU 2021-05, Leases (Topic 842): Lessors - Certain Leases with Variable Lease Payments Issued July 2021 • Provides updates for accounting for leases with variable lease payments under ASC 842. • Customers adopted this guidance on January 1, 2022. Accounting Standards Issued But Not Yet Adopted Standard Summary of Guidance Effects on Financial Statements ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures Issued March 2022 • Eliminates the accounting guidance for TDRs by creditors, and applies the loan refinancing and restructuring guidance when a borrower is experiencing financial difficulty to determine whether a modification results in a new loan or a continuation of an existing loan. • Provides enhanced disclosure requirements for certain loan refinancing and restructurings and disclosure of current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of ASC 326. • Effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period, provided the amendments are adopted as of the beginning of the fiscal year that includes the interim period of adoption. Early adoption is permitted separately for the amendments to TDRs and vintage disclosures. • TDR and vintage disclosures are to be adopted prospectively. An entity may adopt TDR recognition and measurement guidance prospectively or elect to use a modified retrospective transition method, with a cumulative effect adjustment to retained earnings at the beginning of the period of adoption. • Customers expects this guidance will result in additional disclosures related to gross write-offs by vintage year and expansive disclosures for certain loan modifications to borrowers experiencing financial difficulty.

Discontinued Operations (Tables

Discontinued Operations (Tables)3 Months Ended
Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations Income StatementThe following summarized financial information related to BMT has been segregated from continuing operations and reported as discontinued operations for the periods presented. Three Months Ended (amounts in thousands) 2022 2021 Discontinued operations: Non-interest income $ — $ — Non-interest expense — 20,354 Loss from discontinued operations before income taxes — (20,354) Income tax expense (benefit) — 17,682 Net loss from discontinued operations $ — $ (38,036)

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]
Components of Earnings (Loss) Per ShareThe following are the components and results of Customers' earnings (loss) per common share calculations for the periods presented. Three Months Ended (amounts in thousands, except share and per share data) 2022 2021 Net income from continuing operations available to common shareholders $ 74,896 $ 71,240 Net loss from discontinued operations — (38,036) Net income available to common shareholders $ 74,896 $ 33,204 Weighted-average number of common shares outstanding – basic 32,957,033 31,883,946 Share-based compensation plans 1,370,032 957,765 Weighted-average number of common shares – diluted 34,327,065 32,841,711 Basic earnings (loss) per common share from continuing operations $ 2.27 $ 2.23 Basic earnings (loss) per common share from discontinued operations — (1.19) Basic earnings (loss) per common share 2.27 1.04 Diluted earnings (loss) per common share from continuing operations $ 2.18 $ 2.17 Diluted earnings (loss) per common share from discontinued operations — (1.16) Diluted earnings (loss) per common share 2.18 1.01
Anti-dilutive Securities Excluded from Computation of Earnings Per ShareThe following are securities that could potentially dilute basic earnings per common share in future periods that were not included in the computation of diluted earnings per common share because either the performance conditions for certain of the share-based compensation awards have not been met or to do so would have been anti-dilutive for the periods presented. Three Months Ended 2022 2021 Anti-dilutive securities: Share-based compensation awards — 277,725

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Loss) By Component (Tables)3 Months Ended
Mar. 31, 2022
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss)The following tables present the changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2022 and 2021. Amounts in parentheses indicate reductions to AOCI. Three Months Ended March 31, 2022 (amounts in thousands) Unrealized Gains (Losses) on Available for Sale Securities (1) Unrealized Gains (Losses) on Cash Flow Hedges (2) Total Balance - December 31, 2021 $ (4,980) $ — $ (4,980) Unrealized gains (losses) arising during period, before tax (78,858) — (78,858) Income tax effect 20,503 — 20,503 Other comprehensive income (loss) before reclassifications (58,355) — (58,355) Reclassification adjustments for (gains) losses included in net income, before tax 1,063 — 1,063 Income tax effect (276) — (276) Amounts reclassified from accumulated other comprehensive income (loss) to net income 787 — 787 Net current-period other comprehensive income (loss) (57,568) — (57,568) Balance - March 31, 2022 $ (62,548) $ — $ (62,548) Three Months Ended March 31, 2021 (amounts in thousands) Unrealized Gains (Losses) on Available for Sale Securities (1) Unrealized Gains (Losses) on Cash Flow Hedges (2) Total Balance - December 31, 2020 $ 23,312 $ (29,076) $ (5,764) Unrealized gains (losses) arising during period, before tax 400 12,315 12,715 Income tax effect (104) (3,202) (3,306) Other comprehensive income (loss) before reclassifications 296 9,113 9,409 Reclassification adjustments for (gains) losses included in net income, before tax (23,566) 25,926 2,360 Income tax effect 6,127 (6,741) (614) Amounts reclassified from accumulated other comprehensive income (loss) to net income (17,439) 19,185 1,746 Net current-period other comprehensive income (loss) (17,143) 28,298 11,155 Balance - March 31, 2021 $ 6,169 $ (778) $ 5,391 (1) Reclassification amounts for AFS debt securities are reported as gain (loss) on sale of investment securities on the consolidated statements of income. (2) Reclassification amounts for cash flow hedges are reported as interest expense for the applicable hedged items or loss on cash flow hedge derivative terminations on the consolidated statements of income.

Investment Securities (Tables)

Investment Securities (Tables)3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Summary of Amortized Cost and Approximate Fair Value of Investment SecuritiesThe amortized cost and approximate fair value of investment securities as of March 31, 2022 and December 31, 2021 are summarized as follows: March 31, 2022 (1) (amounts in thousands) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale debt securities: Asset-backed securities $ 351,847 $ (728) $ 87 $ (7,587) $ 343,619 Agency-guaranteed residential mortgage-backed securities 9,242 — — (973) 8,269 Agency-guaranteed commercial mortgage-backed securities 2,140 — — (95) 2,045 Agency-guaranteed residential collateralized mortgage obligations 618,998 — 833 (16,428) 603,403 Agency-guaranteed commercial collateralized mortgage obligations 172,410 — — (9,811) 162,599 Collateralized loan obligations 1,010,938 — — (6,576) 1,004,362 Commercial mortgage-backed securities 148,993 — — (1,368) 147,625 Corporate notes (2) 607,230 — 1,376 (14,856) 593,750 Private label collateralized mortgage obligations 1,302,400 — — (31,993) 1,270,407 State and political subdivision debt securities (3) 8,531 — — (581) 7,950 Available for sale debt securities $ 4,232,729 $ (728) $ 2,296 $ (90,268) 4,144,029 Equity securities (4) 25,824 Total investment securities, at fair value $ 4,169,853 December 31, 2021 (1) (amounts in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale debt securities: Asset-backed securities $ 297,291 $ 253 $ (119) $ 297,425 Agency-guaranteed residential mortgage-backed securities 9,865 — (312) 9,553 Agency-guaranteed commercial mortgage-backed securities 2,162 — (10) 2,152 Agency-guaranteed residential collateralized mortgage obligations 199,091 154 (2,315) 196,930 Agency-guaranteed commercial collateralized mortgage obligations 242,668 53 (3,877) 238,844 Collateralized loan obligations 1,067,770 247 (1,215) 1,066,802 Commercial mortgage-backed securities 149,054 53 (180) 148,927 Corporate notes (2) 575,273 6,334 (1,561) 580,046 Private label collateralized mortgage obligations 1,248,142 333 (6,010) 1,242,465 State and political subdivision debt securities (3) 8,535 — (104) 8,431 Available for sale debt securities $ 3,799,851 $ 7,427 $ (15,703) 3,791,575 Equity securities (4) 25,575 Total investment securities, at fair value $ 3,817,150 (1) Accrued interest on AFS debt securities totaled $14.3 million and $11.0 million at March 31, 2022 and December 31, 2021, respectively, and is included in accrued interest receivable on the consolidated balance sheet. (2) Includes corporate securities issued by domestic bank holding companies. (3) Includes both taxable and non-taxable municipal securities. (4) Includes perpetual preferred stock issued by domestic banks and domestic bank holding companies and equity securities issued by fintech companies, without a
Summary of Available-for-Sale Debt Securities by Stated MaturityThe following table presents debt securities by stated maturity. Debt securities backed by mortgages and other assets have expected maturities that differ from contractual maturities because borrowers have the right to call or prepay and, therefore, these debt securities are classified separately with no specific maturity date: March 31, 2022 (amounts in thousands) Amortized Fair Due in one year or less $ 4,992 $ 4,999 Due after one year through five years 419,539 409,141 Due after five years through ten years 191,230 187,560 Asset-backed securities 351,847 343,619 Collateralized loan obligations 1,010,938 1,004,362 Commercial mortgage-backed securities 148,993 147,625 Agency-guaranteed residential mortgage-backed securities 9,242 8,269 Agency-guaranteed commercial mortgage-backed securities 2,140 2,045 Agency-guaranteed residential collateralized mortgage obligations 618,998 603,403 Agency-guaranteed commercial collateralized mortgage obligations 172,410 162,599 Private label collateralized mortgage obligations 1,302,400 1,270,407 Total debt securities $ 4,232,729 $ 4,144,029
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair ValueGross unrealized losses and fair value of Customers' AFS debt securities for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2022 and December 31, 2021 were as follows: March 31, 2022 Less Than 12 Months 12 Months or More Total (amounts in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for sale debt securities: Asset-backed securities $ 199,725 $ (3,832) $ — $ — $ 199,725 $ (3,832) Agency-guaranteed residential mortgage-backed securities — — 8,269 (973) 8,269 (973) Agency-guaranteed commercial mortgage-backed securities 2,045 (95) — — 2,045 (95) Agency-guaranteed residential collateralized mortgage obligations 434,524 (16,428) — — 434,524 (16,428) Agency-guaranteed commercial collateralized mortgage obligations 95,995 (3,764) 66,605 (6,047) 162,600 (9,811) Collateralized loan obligations 934,954 (6,457) 25,510 (119) 960,464 (6,576) Commercial mortgage-backed securities 129,365 (1,368) — — 129,365 (1,368) Corporate notes 393,997 (13,972) 14,115 (884) 408,112 (14,856) Private label collateralized mortgage obligations 856,760 (27,386) 42,196 (4,607) 898,956 (31,993) State and political subdivision debt securities 7,950 (581) — — 7,950 (581) Total $ 3,055,315 $ (73,883) $ 156,695 $ (12,630) $ 3,212,010 $ (86,513) December 31, 2021 Less Than 12 Months 12 Months or More Total (amounts in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for sale debt securities: Asset-backed securities $ 54,753 $ (119) $ — $ — $ 54,753 $ (119) Agency-guaranteed residential mortgage-backed securities 9,554 (312) — — 9,554 (312) Agency-guaranteed commercial mortgage-backed securities 2,152 (10) — — 2,152 (10) Agency-guaranteed residential collateralized mortgage obligations 173,492 (2,315) — — 173,492 (2,315) Agency-guaranteed commercial collateralized mortgage obligations 118,334 (3,877) — — 118,334 (3,877) Collateralized loan obligations 715,250 (1,215) — — 715,250 (1,215) Commercial mortgage-backed securities 122,597 (180) — — 122,597 (180) Corporate notes 188,100 (1,561) — — 188,100 (1,561) Private label collateralized mortgage obligations 632,091 (5,874) 6,818 (136) 638,909 (6,010) State and political subdivision debt securities 8,430 (104) — — 8,430 (104) Total $ 2,024,753 $ (15,567) $ 6,818 $ (136) $ 2,031,571 $ (15,703)
Debt Securities, Available-for-sale, Allowance for Credit LossThe following table presents the activity in the allowance for credit losses on AFS debt securities, by major security type: Asset-backed securities (amounts in thousands) Three Months Ended March 31, 2022 Balance at January 1, $ — Credit losses on securities for which credit losses were not previously recorded 728 Balance at March 31, $ 728

Loans Held for Sale (Tables)

Loans Held for Sale (Tables)3 Months Ended
Mar. 31, 2022
Receivables Held-for-sale [Abstract]
Composition of Loans Held for SaleThe composition of loans held for sale as of March 31, 2022 and December 31, 2021 was as follows: (amounts in thousands) March 31, 2022 December 31, 2021 Consumer loans: Home equity conversion mortgages, at lower of cost or fair value $ 507 $ 507 Residential mortgage loans, at fair value 2,496 15,747 Total consumer loans held for sale 3,003 16,254 Loans held for sale $ 3,003 $ 16,254

Loans and Leases Receivable a_2

Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases (Tables)3 Months Ended
Mar. 31, 2022
Receivables [Abstract]
Schedule of Loans and Leases ReceivableThe following table presents loans and leases receivable as of March 31, 2022 and December 31, 2021. (amounts in thousands) March 31, 2022 December 31, 2021 Loans and leases receivable, mortgage warehouse, at fair value $ 1,755,758 $ 2,284,325 Loans receivable, PPP 2,195,902 3,250,008 Loans and leases receivable: Commercial: Multi-family 1,705,027 1,486,308 Commercial and industrial (1) 3,995,802 3,424,783 Commercial real estate owner occupied 701,893 654,922 Commercial real estate non-owner occupied 1,140,311 1,121,238 Construction 161,024 198,981 Total commercial loans and leases receivable 7,704,057 6,886,232 Consumer: Residential real estate 466,423 334,730 Manufactured housing 50,669 52,861 Installment 1,897,706 1,744,475 Total consumer loans receivable 2,414,798 2,132,066 Loans and leases receivable 10,118,855 9,018,298 Allowance for credit losses on loans and leases (145,847) (137,804) Total loans and leases receivable, net of allowance for credit losses on loans and leases (2) $ 13,924,668 $ 14,414,827 (1) Includes direct finance equipment leases of $150.7 million and $146.5 million at March 31, 2022 and December 31, 2021, respectively. (2) Includes deferred (fees) costs and unamortized (discounts) premiums, net of $(22.8) million and $(52.0) million at March 31, 2022 and December 31, 2021, respectively.
Loans and Leases Receivable by Loan Type and Performance StatusThe following tables summarize loans and leases receivable by loan and lease type and performance status as of March 31, 2022 and December 31, 2021: March 31, 2022 (amounts in thousands) 30-59 Days past due (1) 60-89 Days past due (1) 90 Days or more past due (1) Total past due (1) Loans and leases not past due (2) Total loans and leases (3) Multi-family $ 10,690 $ — $ 16,181 $ 26,871 $ 1,678,156 $ 1,705,027 Commercial and industrial 2,591 92 5,432 8,115 3,987,687 3,995,802 Commercial real estate owner occupied 2,935 — 1,046 3,981 697,912 701,893 Commercial real estate non-owner occupied — — 1,302 1,302 1,139,009 1,140,311 Construction — — — — 161,024 161,024 Residential real estate 5,151 446 4,808 10,405 456,018 466,423 Manufactured housing 975 280 4,488 5,743 44,926 50,669 Installment 7,974 4,868 4,865 17,707 1,879,999 1,897,706 Total $ 30,316 $ 5,686 $ 38,122 $ 74,124 $ 10,044,731 $ 10,118,855 December 31, 2021 (amounts in thousands) 30-59 Days past due (1) 60-89 Days past due (1) 90 Days or more past due (1) Total past due (1) Loans and leases not past due (2) Total loans and leases (3) Multi-family $ 1,682 $ 2,707 $ 18,235 $ 22,624 $ 1,463,684 $ 1,486,308 Commercial and industrial 2,093 95 5,929 8,117 3,416,666 3,424,783 Commercial real estate owner occupied 287 — 1,304 1,591 653,331 654,922 Commercial real estate non-owner occupied — — 2,815 2,815 1,118,423 1,121,238 Construction — — — — 198,981 198,981 Residential real estate 4,655 789 4,390 9,834 324,896 334,730 Manufactured housing 2,308 768 4,949 8,025 44,836 52,861 Installment 7,349 4,295 3,783 15,427 1,729,048 1,744,475 Total $ 18,374 $ 8,654 $ 41,405 $ 68,433 $ 8,949,865 $ 9,018,298 (1) Includes past due loans and leases that are accruing interest because collection is considered probable. (2) Loans and leases where next payment due is less than 30 days from the report date. The tables exclude PPP loans of $2.2 billion, of which $37.8 million were 30-59 days past due and $88.3 million were 60 days or more past due as of March 31, 2022, and PPP loans of $3.3 billion, of which $6.3 million were 30-59 days past due and $21.8 million were 60 days or more past due as of December 31, 2021. Claims for guarantee payments are submitted to the SBA for eligible PPP loans more than 60 days past due. (3) Includes PCD loans of $9.4 million and $9.9 million at March 31, 2022 and December 31, 2021, respectively.
Amortized cost of Loans and Leases on Nonaccrual StatusThe following table presents the amortized cost of loans and leases held for investment on nonaccrual status. March 31, 2022 (1) December 31, 2021 (1) (amounts in thousands) Nonaccrual loans with no related allowance Nonaccrual loans with related allowance Total nonaccrual loans Nonaccrual loans with no related allowance Nonaccrual loans with related allowance Total nonaccrual loans Multi-family $ 17,869 $ — $ 17,869 $ 22,654 $ — $ 22,654 Commercial and industrial 5,490 — 5,490 5,837 259 6,096 Commercial real estate owner occupied 2,191 — 2,191 2,475 — 2,475 Commercial real estate non-owner occupied 1,302 — 1,302 2,815 — 2,815 Residential real estate 8,124 — 8,124 7,727 — 7,727 Manufactured housing — 3,430 3,430 — 3,563 3,563 Installment — 4,865 4,865 — 3,783 3,783 Total $ 34,976 $ 8,295 $ 43,271 $ 41,508 $ 7,605 $ 49,113 (1) Presented at amortized cost basis.
Schedule of Allowance for Credit Losses on Loans and LeasesThe changes in the ACL on loans and leases for the three months ended March 31, 2022 and 2021, and the loans and leases and ACL by loan and lease type are presented in the tables below. (amounts in thousands) Multi-family Commercial and industrial Commercial real estate owner occupied Commercial real estate non-owner occupied Construction Residential real estate Manufactured housing Installment Total Three Months Ended March 31, 2022 Ending balance, December 31, 2021 $ 4,477 $ 12,702 $ 3,213 $ 6,210 $ 692 $ 2,383 $ 4,278 $ 103,849 $ 137,804 Charge-offs — (301) — — — (4) — (8,865) (9,170) Recoveries 337 360 7 8 113 6 — 1,113 1,944 Provision (benefit) for credit losses on loans and leases 2,623 (1,996) 621 (263) 134 2,300 64 11,786 15,269 Ending balance, March 31, 2022 $ 7,437 $ 10,765 $ 3,841 $ 5,955 $ 939 $ 4,685 $ 4,342 $ 107,883 $ 145,847 Three Months Ended March 31, 2021 Ending balance, at December 31, 2020 $ 12,620 $ 12,239 $ 9,512 $ 19,452 $ 5,871 $ 3,977 $ 5,190 $ 75,315 $ 144,176 Charge-offs (1,132) (635) (142) — — (50) — (12,687) (14,646) Recoveries — 260 8 10 5 10 — 1,832 2,125 Provision (benefit) for credit losses on loans and leases (3,462) (4,361) (3,443) (7,841) (1,773) (728) (390) 19,079 (2,919) Ending Balance, March 31, 2021 $ 8,026 $ 7,503 $ 5,935 $ 11,621 $ 4,103 $ 3,209 $ 4,800 $ 83,539 $ 128,736
Analysis of Loans Modified in Troubled Debt Restructuring by Type of ConcessionThe following table presents loans modified in a TDR by type of concession for the three months ended March 31, 2022 and 2021. There were no modifications that involved forgiveness of debt for the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 (dollars in thousands) Number of loans Recorded investment Number of loans Recorded investment Interest-rate reductions 10 $ 346 8 $ 184 Other (1) 32 451 20 541 Total 42 $ 797 28 $ 725 (1) Other includes covenant modifications, forbearance, loans discharged under Chapter 7 bankruptcy, or other concessions.
Summary of Loans Modified in Troubled Debt Restructurings and Related Recorded Investment Within Twelve MonthsThe following table presents, by loan type, the number of loans modified in TDRs and the related recorded investment, for which there was a payment default within twelve months following the modification: March 31, 2022 March 31, 2021 (dollars in thousands) Number of loans Recorded investment Number of loans Recorded investment Manufactured housing 1 $ 49 3 $ 48 Residential real estate — — 1 56 Installment 23 276 16 250 Total loans 24 $ 325 20 $ 354
Credit Ratings of Covered and Non-Covered Loan PortfolioThe following tables present the credit ratings of loans and leases receivable as of March 31, 2022 and December 31, 2021. Term Loans Amortized Cost Basis by Origination Year as of (amounts in thousands) 2022 2021 2020 2019 2018 Prior Revolving loans amortized cost basis Revolving loans converted to term Total Multi-family loans: Pass $ 385,034 $ 400,699 $ 132,732 $ 22,884 $ 126,850 $ 520,645 $ — $ — $ 1,588,844 Special mention — 1,523 — 5,033 49,200 — — 55,756 Substandard — — — — — 60,427 — — 60,427 Doubtful — — — — — — — — — Total multi-family loans $ 385,034 $ 402,222 $ 132,732 $ 22,884 $ 131,883 $ 630,272 $ — $ — $ 1,705,027 Commercial and industrial loans and leases: Pass $ 1,008,340 $ 627,255 $ 284,982 $ 224,881 $ 57,750 $ 136,853 $ 1,578,024 $ — $ 3,918,085 Special mention — — 57 156 — 36,223 2,524 — 38,960 Substandard 20,400 4,901 4,565 86 1,464 7,341 — 38,757 Doubtful — — — — — — — — — Total commercial and industrial loans and leases $ 1,008,340 $ 647,655 $ 289,940 $ 229,602 $ 57,836 $ 174,540 $ 1,587,889 $ — $ 3,995,802 Commercial real estate owner occupied loans: Pass $ 60,055 $ 210,933 $ 59,025 $ 122,135 $ 60,968 $ 150,564 $ 672 $ — $ 664,352 Special mention — — — 3,010 — 2,302 — — 5,312 Substandard — — — 3,495 9,635 19,099 — — 32,229 Doubtful — — — — — — — — — Total commercial real estate owner occupied loans $ 60,055 $ 210,933 $ 59,025 $ 128,640 $ 70,603 $ 171,965 $ 672 $ — $ 701,893 Commercial real estate non-owner occupied: Pass $ 73,544 $ 135,995 $ 147,873 $ 76,351 $ 65,061 $ 443,165 $ — $ — $ 941,989 Special mention — — 21,572 — 953 6,069 — — 28,594 Substandard — — — 29,184 38,409 102,135 — — 169,728 Doubtful — — — — — — — — — Total commercial real estate non-owner occupied loans $ 73,544 $ 135,995 $ 169,445 $ 105,535 $ 104,423 $ 551,369 $ — $ — $ 1,140,311 Construction: Pass $ 11,779 $ 70,404 $ 13,894 $ 49,175 $ 4,791 $ 9,321 $ 1,660 $ — $ 161,024 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total construction loans $ 11,779 $ 70,404 $ 13,894 $ 49,175 $ 4,791 $ 9,321 $ 1,660 $ — $ 161,024 Total commercial loans and leases receivable $ 1,538,752 $ 1,467,209 $ 665,036 $ 535,836 $ 369,536 $ 1,537,467 $ 1,590,221 $ — $ 7,704,057 Residential real estate loans: Performing $ 8,713 $ 178,623 $ 12,064 $ 31,045 $ 17,126 $ 127,537 $ 84,904 $ — $ 460,012 Non-performing — — — 329 1,138 4,009 935 — 6,411 Total residential real estate loans $ 8,713 $ 178,623 $ 12,064 $ 31,374 $ 18,264 $ 131,546 $ 85,839 $ — $ 466,423 Manufactured housing loans: Performing $ — $ — $ — $ 248 $ 291 $ 46,315 $ — $ — $ 46,854 Non-performing — — — — — 3,815 — — 3,815 Total manufactured housing loans $ — $ — $ — $ 248 $ 291 $ 50,130 $ — $ — $ 50,669 Installment loans: Performing $ 311,579 $ 883,638 $ 325,741 $ 265,764 $ 25,590 $ 2,082 $ 78,600 $ — $ 1,892,994 Non-performing — 1,834 1,065 1,534 83 115 81 — 4,712 Total installment loans $ 311,579 $ 885,472 $ 326,806 $ 267,298 $ 25,673 $ 2,197 $ 78,681 $ — $ 1,897,706 Total consumer loans $ 320,292 $ 1,064,095 $ 338,870 $ 298,920 $ 44,228 $ 183,873 $ 164,520 $ — $ 2,414,798 Loans and leases receivable $ 1,859,044 $ 2,531,304 $ 1,003,906 $ 834,756 $ 413,764 $ 1,721,340 $ 1,754,741 $ — $ 10,118,855 Term Loans Amortized Cost Basis by Origination Year as of December 31, 2021 (amounts in thousands) 2021 2020 2019 2018 2017 Prior Revolving loans amortized cost basis Revolving loans converted to term Total Multi-family loans: Pass $ 403,075 $ 133,452 $ 23,068 $ 209,070 $ 282,663 $ 316,491 $ — $ — $ 1,367,819 Special mention — — — 9,936 18,489 28,776 — — 57,201 Substandard — — — — 38,216 23,072 — — 61,288 Doubtful — — — — — — — — — Total multi-family loans $ 403,075 $ 133,452 $ 23,068 $ 219,006 $ 339,368 $ 368,339 $ — $ — $ 1,486,308 Commercial and industrial loans and leases: Pass $ 974,016 $ 337,045 $ 266,677 $ 86,691 $ 55,536 $ 89,860 $ 1,484,287 $ — $ 3,294,112 Special mention 476 1,408 3,325 4,904 36,252 92 14,662 — 61,119 Substandard 18,786 10,257 9,543 11,586 5,682 6,764 6,934 — 69,552 Doubtful — — — — — — — — — Total commercial and industrial loans and leases $ 993,278 $ 348,710 $ 279,545 $ 103,181 $ 97,470 $ 96,716 $ 1,505,883 $ — $ 3,424,783 Commercial real estate owner occupied loans: Pass $ 213,102 $ 59,348 $ 124,626 $ 60,993 $ 58,073 $ 99,219 $ 672 $ — $ 616,033 Special mention — — 2,876 318 2,044 572 — — 5,810 Substandard — — 3,750 9,682 8,824 10,823 — — 33,079 Doubtful — — — — — — — — — Total commercial real estate owner occupied loans $ 213,102 $ 59,348 $ 131,252 $ 70,993 $ 68,941 $ 110,614 $ 672 $ — $ 654,922 Commercial real estate non-owner occupied: Pass $ 136,897 $ 149,898 $ 95,504 $ 66,040 $ 153,509 $ 310,435 $ — $ — $ 912,283 Special mention — 21,694 11,113 9,373 43,215 20,540 — — 105,935 Substandard — — — 35,846 20,516 46,658 — — 103,020 Doubtful — — — — — — — — — Total commercial real estate non-owner occupied loans $ 136,897 $ 171,592 $ 106,617 $ 111,259 $ 217,240 $ 377,633 $ — $ — $ 1,121,238 Construction: Pass $ 57,105 $ 49,199 $ 77,622 $ 4,828 $ — $ 9,414 $ 813 $ — $ 198,981 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total construction loans $ 57,105 $ 49,199 $ 77,622 $ 4,828 $ — $ 9,414 $ 813 $ — $ 198,981 Total commercial loans and leases receivable $ 1,803,457 $ 762,301 $ 618,104 $ 509,267 $ 723,019 $ 962,716 $ 1,507,368 $ — $ 6,886,232 Residential real estate loans: Performing $ 107,854 $ 8,251 $ 21,096 $ 11,389 $ 6,707 $ 84,035 $ 87,438 $ — $ 326,770 Non-performing — — 335 1,015 669 3,587 2,354 — 7,960 Total residential real estate loans $ 107,854 $ 8,251 $ 21,431 $ 12,404 $ 7,376 $ 87,622 $ 89,792 $ — $ 334,730 Manufactured housing loans: Performing $ — $ — $ 253 $ 299 $ 73 $ 47,537 $ — $ — 48,162 Non-performing — — — — — 4,699 — — 4,699 Total manufactured housing loans $ — $ — $ 253 $ 299 $ 73 $ 52,236 $ — $ — $ 52,861 Installment loans: Performing $ 973,525 $ 390,788 $ 341,582 $ 31,481 $ 1,601 $ 1,016 $ 25 $ — $ 1,740,018 Non-performing 1,162 1,002 2,074 156 2 61 — — 4,457 Total installment loans $ 974,687 $ 391,790 $ 343,656 $ 31,637 $ 1,603 $ 1,077 $ 25 $ — $ 1,744,475 Total consumer loans $ 1,082,541 $ 400,041 $ 365,340 $ 44,340 $ 9,052 $ 140,935 $ 89,817 $ — $ 2,132,066 Loans and leases receivable $ 2,885,998 $ 1,162,342 $ 983,444 $ 553,607 $ 732,071 $ 1,103,651 $ 1,597,185 $ — $ 9,018,298
Schedule of Loan Purchases and SalesPurchases and sales of loans were as follows for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, (amounts in thousands) 2022 2021 Purchases (1) Residential real estate $ 146,874 $ — Installment (2) 59,456 115,849 Total $ 206,330 $ 115,849 Sales (3) Commercial and industrial $ 8,840 $ 18,931 Commercial real estate owner occupied 5,441 2,237 Commercial real estate non-owner occupied — 18,366 Total $ 14,281 $ 39,534 (1) Amounts reported in the above table are the unpaid principal balance at time of purchase. The purchase price was 98.1% and 101.0% of loans outstanding for the three months ended March 31, 2022 and 2021, respectively. (2) Installment loan purchases for the three months ended March 31, 2022 and 2021 consist of third-party originated unsecured consumer loans. None of the loans are considered sub-prime at the time of origination. Customers considers sub-prime borrowers to be those with FICO scores below 660. (3) For the three months ended March 31, 2022 and 2021, loan sales resulted in net gains of $2.1 million and $1.6 million, respectively, included in gain (loss) on sale of SBA and other loans and mortgage banking income in the consolidated statements of income.

Leases (Tables)

Leases (Tables)3 Months Ended
Mar. 31, 2022
Leases [Abstract]
Lessee, Summary of Right-of-Use Assets and Lease LiabilitiesThe following table summarizes operating lease ROU assets and operating lease liabilities and their corresponding balance sheet location: (amounts in thousands) Classification March 31, 2022 December 31, 2021 ASSETS Operating lease ROU assets Other assets $ 12,364 $ 12,677 LIABILITIES Operating lease liabilities Other liabilities $ 14,003 $ 14,524
Lease, CostThe following table summarizes operating lease cost and its corresponding income statement location for the periods presented: Three Months Ended March 31, (amounts in thousands) Classification 2022 2021 Operating lease cost (1) Occupancy expenses $ 998 $ 1,117 (1) There were no variable lease costs for the three months ended March 31, 2022 and 2021, and sublease income for operating leases is immaterial.
Maturities of Non-cancelable Operating Lease LiabilitiesMaturities of non-cancelable operating lease liabilities were as follows at March 31, 2022: (amounts in thousands) March 31, 2022 2022 $ 3,238 2023 4,018 2024 2,991 2025 2,060 2026 1,125 Thereafter 1,791 Total minimum payments 15,223 Less: interest 1,220 Present value of lease liabilities $ 14,003
Summary of Lease Term and Discount Rate for Operating LeasesThe following table summarizes the weighted average remaining lease term and discount rate for Customers' operating leases at March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Weighted average remaining lease term (years) Operating leases 4.7 years 3.9 years Weighted average discount rate Operating leases 2.82 % 2.74 %
Lessor, Lease Receivables and Investment in Operating Leases and their Corresponding Balance Sheet LocationThe following table summarizes lease receivables and investment in operating leases and their corresponding balance sheet location at March 31, 2022 and December 31, 2021: (amounts in thousands) Classification March 31, 2022 December 31, 2021 ASSETS Direct financing leases Lease receivables Loans and leases receivable $ 139,203 $ 134,855 Guaranteed residual assets Loans and leases receivable 11,631 11,397 Unguaranteed residual assets Loans and leases receivable 5,820 5,665 Deferred initial direct costs Loans and leases receivable 623 448 Unearned income Loans and leases receivable (5,917) (5,383) Net investment in direct financing leases $ 151,360 $ 146,982 Operating leases Investment in operating leases Other assets $ 159,177 $ 158,135 Accumulated depreciation Other assets (43,802) (40,749) Deferred initial direct costs Other assets 809 872 Net investment in operating leases 116,184 118,258 Total lease assets $ 267,544 $ 265,240

Borrowings (Tables)

Borrowings (Tables)3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]
Short Term BorrowingsShort-term debt at March 31, 2022 and December 31, 2021 was as follows: March 31, 2022 December 31, 2021 (dollars in thousands) Amount Rate Amount Rate FHLB advances $ — — % $ 700,000 0.26 % Federal funds purchased 700,000 0.40 % 75,000 0.05 % Total short-term debt $ 700,000 $ 775,000
Summary of Bancorps Short Term BorrowingsThe following is a summary of additional information relating to Customers' short-term debt: (dollars in thousands) March 31, 2022 (1) December 31, 2021 (2) FHLB advances Maximum outstanding at any month end $ — $ 850,000 Average balance during the period 127,778 264,704 Weighted-average interest rate during the period 0.32 % 2.35 % Federal funds purchased Maximum outstanding at any month end 700,000 365,000 Average balance during the period 88,611 22,110 Weighted-average interest rate during the period 0.33 % 0.07 % (1) For the three months ended March 31, 2022. (2) For the year ended December 31, 2021.
Schedule of Long-term DebtThe maximum borrowing capacity with the FHLB and FRB at March 31, 2022 and December 31, 2021 was as follows: (amounts in thousands) March 31, 2022 December 31, 2021 Total maximum borrowing capacity with the FHLB $ 3,337,211 $ 2,973,635 Total maximum borrowing capacity with the FRB (1) 214,908 183,052 Qualifying loans serving as collateral against FHLB and FRB advances (1) 4,218,252 3,594,339 (1) Amounts reported in the above table exclude borrowings under the PPPLF, which are limited to the unpaid principal balance of the loans originated under the PPP. Customers had no borrowings under the PPPLF at March 31, 2022 and December 31, 2021. Senior and Subordinated Debt Long-term senior notes and subordinated debt at March 31, 2022 and December 31, 2021 were as follows: March 31, 2022 December 31, 2021 (dollars in thousands) Issued by Ranking Carrying Amount Carrying Amount Rate Issued Amount Date Issued Maturity Price Customers Bancorp Senior (1) $ 99,844 $ 98,642 2.875 % $ 100,000 August 2021 August 2031 100.000 % Customers Bancorp Senior 24,702 24,672 4.500 % 25,000 September 2019 September 2024 100.000 % Customers Bancorp Senior 98,684 99,772 3.950 % 100,000 June 2017 June 2022 99.775 % Total other borrowings $ 223,230 $ 223,086 Customers Bancorp Subordinated (2)(3) $ 72,448 $ 72,403 5.375 % $ 74,750 December 2019 December 2034 100.000 % Customers Bank Subordinated (2)(4) 109,294 109,270 6.125 % 110,000 June 2014 June 2029 100.000 % Total subordinated debt $ 181,742 $ 181,673 (1) The senior notes will bear an annual fixed rate of 2.875% until August 15, 2026. From August 15, 2026 until maturity, the notes will bear an annual interest rate equal to a benchmark rate, which is expected to be the three-month term SOFR, plus 235 basis points. Customers Bancorp has the ability to call the senior notes, in whole, or in part, at a redemption price equal to 100% of the principal balance at certain times on or after August 15, 2026. (2) The subordinated notes qualify as Tier 2 capital for regulatory capital purposes. (3) Customers Bancorp has the ability to call the subordinated notes, in whole, or in part, at a redemption price equal to 100% of the principal balance at certain times on or after December 30, 2029.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)3 Months Ended
Mar. 31, 2022
Equity [Abstract]
Schedule of Stock by ClassThe table below summarizes Customers' issuances of preferred stock and the dividends paid per share. (amounts in thousands except share and per share data) Shares at Carrying value at Initial Fixed Rate Date at which dividend rate becomes floating and earliest redemption date Floating rate of Three-Month LIBOR Plus: Dividend Paid Per Share in 2022 (1) Fixed-to-floating rate: Issue Date March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Series E April 28, 2016 2,300,000 2,300,000 $ 55,593 $ 55,593 6.45 % June 15, 2021 5.140 % $ 0.33 Series F September 16, 2016 3,400,000 3,400,000 82,201 82,201 6.00 % December 15, 2021 4.762 % $ 0.31 Totals 5,700,000 5,700,000 $ 137,794 $ 137,794 (1) For the three months ended March 31, 2022.

Regulatory Capital (Tables)

Regulatory Capital (Tables)3 Months Ended
Mar. 31, 2022
Regulatory Capital [Abstract]
Summary of Capital Amounts, Tier 1 Risk Based and Tier 1 Leveraged RatiosGenerally, to comply with the regulatory definition of adequately capitalized, or well capitalized, respectively, or to comply with the Basel III capital requirements, an institution must at least maintain the common equity Tier 1, Tier 1 and total risk-based capital ratios and the Tier 1 leverage ratio in excess of the related minimum ratios as set forth in the following table: Minimum Capital Levels to be Classified as: Actual Adequately Capitalized Well Capitalized Basel III Compliant (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of March 31, 2022: Common equity Tier 1 capital (to risk-weighted assets) Customers Bancorp, Inc. $ 1,344,684 9.893 % $ 611,629 4.500 % N/A N/A $ 951,423 7.000 % Customers Bank $ 1,573,796 11.598 % $ 610,658 4.500 % $ 882,062 6.500 % $ 949,913 7.000 % Tier 1 capital (to risk-weighted assets) Customers Bancorp, Inc. $ 1,482,477 10.907 % $ 815,505 6.000 % N/A N/A $ 1,155,299 8.500 % Customers Bank $ 1,573,796 11.598 % $ 814,211 6.000 % $ 1,085,615 8.000 % $ 1,153,466 8.500 % Total capital (to risk-weighted assets) Customers Bancorp, Inc. $ 1,749,655 12.873 % $ 1,087,340 8.000 % N/A N/A $ 1,427,134 10.500 % Customers Bank $ 1,768,525 13.032 % $ 1,085,615 8.000 % $ 1,357,019 10.000 % $ 1,424,870 10.500 % Tier 1 capital (to average assets) Customers Bancorp, Inc. $ 1,482,477 7.723 % $ 767,836 4.000 % N/A N/A $ 767,836 4.000 % Customers Bank $ 1,573,796 8.211 % $ 766,712 4.000 % $ 958,391 5.000 % $ 766,712 4.000 % As of December 31, 2021: Common equity Tier 1 capital (to risk-weighted assets) Customers Bancorp, Inc. $ 1,291,270 9.981 % $ 582,179 4.500 % N/A N/A $ 905,611 7.000 % Customers Bank $ 1,526,583 11.825 % $ 580,943 4.500 % $ 839,140 6.500 % $ 903,689 7.000 % Tier 1 capital (to risk-weighted assets) Customers Bancorp, Inc. $ 1,429,063 11.046 % $ 776,238 6.000 % N/A N/A $ 1,099,671 8.500 % Customers Bank $ 1,526,583 11.825 % $ 774,591 6.000 % $ 1,032,788 8.000 % $ 1,097,337 8.500 % Total capital (to risk-weighted assets) Customers Bancorp, Inc. $ 1,667,395 12.888 % $ 1,034,984 8.000 % N/A N/A $ 1,358,417 10.500 % Customers Bank $ 1,692,512 13.110 % $ 1,032,788 8.000 % $ 1,290,985 10.000 % $ 1,355,534 10.500 % Tier 1 capital (to average assets) Customers Bancorp, Inc. $ 1,429,063 7.413 % $ 771,084 4.000 % N/A N/A $ 771,084 4.000 % Customers Bank $ 1,526,583 7.925 % $ 770,528 4.000 % $ 963,160 5.000 % $ 770,528 4.000 %

Disclosures About Fair Value _2

Disclosures About Fair Value of Financial Instruments (Tables)3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]
Estimated Fair Values of Financial InstrumentsThe estimated fair values of Customers' financial instruments at March 31, 2022 and December 31, 2021 were as follows. Fair Value Measurements at March 31, 2022 (amounts in thousands) Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Cash and cash equivalents $ 274,600 $ 274,600 $ 274,600 $ — $ — Debt securities, available for sale 4,144,029 4,144,029 — 4,022,176 121,853 Loans held for sale 3,003 3,003 — 2,496 507 Total loans and leases receivable, net of allowance for credit losses on loans and leases 13,924,668 13,571,137 — 1,755,758 11,815,379 FHLB, Federal Reserve Bank and other restricted stock 46,040 46,040 — 46,040 — Derivatives 21,954 21,954 — 21,805 149 Liabilities: Deposits $ 16,415,560 $ 16,343,932 $ 15,969,368 $ 374,564 $ — Federal funds purchased 700,000 700,000 700,000 — — Other borrowings 223,230 219,130 — 219,130 — Subordinated debt 181,742 196,482 — 196,482 — Derivatives 18,370 18,370 — 18,370 — Fair Value Measurements at December 31, 2021 (amounts in thousands) Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Cash and cash equivalents $ 518,032 $ 518,032 $ 518,032 $ — $ — Debt securities, available for sale 3,791,575 3,791,575 — 3,648,690 142,885 Loans held for sale 16,254 16,254 — 15,747 507 Total loans and leases receivable, net of allowance for credit losses on loans and leases 14,414,827 14,207,811 — 2,284,325 11,923,486 FHLB, Federal Reserve Bank and other restricted stock 64,584 64,584 — 64,584 — Derivatives 27,295 27,295 — 27,116 179 Liabilities: Deposits $ 16,777,924 $ 16,777,236 $ 16,270,586 $ 506,650 $ — Federal funds purchased 75,000 75,000 75,000 — — FHLB advances 700,000 700,000 — 700,000 — Other borrowings 223,086 226,585 — 226,585 — Subordinated debt 181,673 204,782 — 204,782 — Derivatives 26,544 26,544 — 26,544 —
Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring BasisFor financial assets and liabilities measured at fair value on a recurring and nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at March 31, 2022 and December 31, 2021 were as follows: March 31, 2022 Fair Value Measurements at the End of the Reporting Period Using (amounts in thousands) Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Measured at Fair Value on a Recurring Basis: Assets Available for sale debt securities: Asset-backed securities $ — $ 221,766 $ 121,853 $ 343,619 Agency-guaranteed residential mortgage-backed securities — 8,269 — 8,269 Agency-guaranteed commercial mortgage-backed securities — 2,045 — 2,045 Agency-guaranteed residential collateralized mortgage obligations — 603,403 — 603,403 Agency-guaranteed commercial collateralized mortgage obligations — 162,599 — 162,599 Collateralized loan obligations — 1,004,362 — 1,004,362 Commercial mortgage-backed securities — 147,625 — 147,625 Corporate notes — 593,750 — 593,750 Private label collateralized mortgage obligations — 1,270,407 — 1,270,407 State and political subdivision debt securities — 7,950 — 7,950 Derivatives — 21,805 149 21,954 Loans held for sale – fair value option — 2,496 — 2,496 Loans receivable, mortgage warehouse – fair value option — 1,755,758 — 1,755,758 Total assets – recurring fair value measurements $ — $ 5,802,235 $ 122,002 $ 5,924,237 Liabilities Derivatives $ — $ 18,370 $ — $ 18,370 Measured at Fair Value on a Nonrecurring Basis: Assets Collateral-dependent loans $ — $ — $ 2,485 $ 2,485 Total assets – nonrecurring fair value measurements $ — $ — $ 2,485 $ 2,485 December 31, 2021 Fair Value Measurements at the End of the Reporting Period Using (amounts in thousands) Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Measured at Fair Value on a Recurring Basis: Assets Available for sale debt securities: Asset-backed securities $ — $ 154,540 $ 142,885 $ 297,425 Agency-guaranteed residential mortgage–backed securities — 9,553 — 9,553 Agency-guaranteed commercial mortgage–backed securities — 2,152 — 2,152 Agency-guaranteed residential collateralized mortgage obligations — 196,930 — 196,930 Agency-guaranteed commercial collateralized mortgage obligations — 238,844 — 238,844 Collateralized loan obligations — 1,066,802 — 1,066,802 Commercial mortgage-backed securities — 148,927 — 148,927 Corporate notes — 580,046 — 580,046 Private label collateralized mortgage obligations — 1,242,465 — 1,242,465 State and political subdivision debt securities — 8,431 — 8,431 Derivatives — 27,116 179 27,295 Loans held for sale – fair value option — 15,747 — 15,747 Loans receivable, mortgage warehouse – fair value option — 2,284,325 — 2,284,325 Total assets – recurring fair value measurements $ — $ 5,975,878 $ 143,064 $ 6,118,942 Liabilities Derivatives $ — $ 26,544 $ — $ 26,544 Measured at Fair Value on a Nonrecurring Basis: Assets Collateral-dependent loans $ — $ — $ 5,121 $ 5,121 Total assets – nonrecurring fair value measurements $ — $ — $ 5,121 $ 5,121
Statement of Changes in Level 3 Assets Measured at Fair Value on a Recurring BasisThe changes in residential mortgage loan commitments (Level 3 assets) measured at fair value on a recurring basis for the three months ended March 31, 2022 and 2021 are summarized in the tables below. Additional information about residential mortgage loan commitments can be found in NOTE 14 – DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES. Residential Mortgage Loan Commitments Three Months Ended March 31, (amounts in thousands) 2022 2021 Balance at January 1, $ 179 $ 200 Issuances 149 196 Settlements (179) (200) Balance at March 31, $ 149 $ 196 The changes in asset-backed securities (Level 3 assets) measured at fair value on a recurring basis for the three months ended March 31, 2022 are summarized in the tables below. Asset-backed securities (amounts in thousands) Three Months Ended March 31, 2022 Balance at January 1, $ 142,885 Principal payments (16,349) Credit losses (728) Change in fair value recognized in OCI (3,955) Balance at March 31, $ 121,853
Summary of Financial Assets and Financial Liabilities Measured at Fair Value on Recurring and Nonrecurring BasisThe following table summarizes financial assets and financial liabilities measured at fair value as of March 31, 2022 and December 31, 2021 on a recurring and nonrecurring basis for which Customers utilized Level 3 inputs to measure fair value. The unobservable Level 3 inputs noted below contain a level of uncertainty that may differ from what is realized in an immediate settlement of the assets. Therefore, Customers may realize a value higher or lower than the current estimated fair value of the assets. Quantitative Information about Level 3 Fair Value Measurements (amounts in thousands) Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (4) March 31, 2022 Asset-backed securities $ 121,853 Discounted cash flow Discount rate Annualized loss rate Constant prepayment rate 4% - 6% (4%) 7% - 8% (8%) 16% - 30% (19%) Collateral-dependent loans – real estate 1,809 Collateral appraisal (1) Liquidation expenses (2) 5% - 5% (5%) Collateral-dependent loans – commercial and industrial 676 Collateral appraisal (1) Business asset valuation (3) Liquidation expenses (2) Business asset valuation adjustments (4) 8% - 26% (13%) 25% - 27% (26%) Residential mortgage loan commitments 149 Adjusted market bid Pull-through rate 69% - 88% (82%) Quantitative Information about Level 3 Fair Value Measurements (amounts in thousands) Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (4) December 31, 2021 Asset-backed securities $ 142,885 Discounted cash flow Discount rate Annualized loss rate Constant prepayment rate 4% - 5% (5%) 4% - 4% (4%) 17% - 33% (19%) Collateral-dependent loans – real estate 4,170 Collateral appraisal (1) Liquidation expenses (2) 8% - 8% (8%) Collateral-dependent loans – commercial and industrial 951 Collateral appraisal (1) Business asset valuation (3) Liquidation expenses (2) Business asset valuation adjustments (4) 8% - 26% (12%) 20% - 20% (20%) Residential mortgage loan commitments 179 Adjusted market bid Pull-through rate 76% - 89% (85%) (1) Obtained from approved independent appraisers. Appraisals are current and in compliance with credit policy. Customers does not generally discount appraisals. Fair value is also estimated based on sale agreements or letters of intent with third parties. (2) Appraisals are adjusted by management for liquidation expenses. The range and weighted average of liquidation expense adjustments are presented as a percentage of the appraisal. (3) Business asset valuation obtained from independent party. (4) Business asset valuations may be adjusted by management for qualitative factors including economic conditions and the condition of the business assets. The range and weighted average of the business asset adjustments are presented as a percent of the business asset valuation.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets at Fair ValueAs of March 31, 2022, the following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustments for fair value hedges. Amortized Cost Cumulative Amount of Fair Value Hedging Adjustment to Hedged Items (amounts in thousands) March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 AFS debt securities $ 64,000 $ 80,500 $ 3,653 $ 1,750
Fair Value of Derivative Financial InstrumentsThe following tables present the fair value of Customers' derivative financial instruments as well as their presentation on the consolidated balance sheets as of March 31, 2022 and December 31, 2021. March 31, 2022 Derivative Assets Derivative Liabilities (amounts in thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as fair value hedges: Interest rate swaps Other assets $ 3,653 Other liabilities $ — Total $ 3,653 $ — Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 16,007 Other liabilities $ 16,158 Interest rate caps Other assets 2,090 Other liabilities 2,090 Credit contracts Other assets 55 Other liabilities 122 Residential mortgage loan commitments Other assets 149 Other liabilities — Total $ 18,301 $ 18,370 December 31, 2021 Derivative Assets Derivative Liabilities (amounts in thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as fair value hedges: Interest rate swaps Other assets $ 1,750 Other liabilities $ — Total $ 1,750 $ — Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 24,747 Other liabilities $ 25,855 Interest rate caps Other assets 488 Other liabilities 488 Credit contracts Other assets 131 Other liabilities 201 Residential mortgage loan commitments Other assets 179 Other liabilities — Total $ 25,545 $ 26,544
Effect of Derivative Financial Instruments on Net Income and Comprehensive IncomeThe following table presents amounts included in the consolidated statements of income related to derivatives designated as fair value hedges and derivatives not designated as hedges for the three months ended March 31, 2022 and 2021. Amount of Income (Loss) Recognized in Earnings Three Months Ended March 31, (amounts in thousands) Income Statement Location 2022 2021 Derivatives designated as fair value hedges: Recognized on interest rate swaps Net interest income $ 2,521 $ 4,907 Recognized on hedged AFS debt securities Net interest income (2,521) (4,907) Total $ — $ — Derivatives not designated as hedging instruments: Interest rate swaps Other non-interest income $ 961 $ 2,399 Interest rate caps Other non-interest income — — Credit contracts Other non-interest income 3 137 Residential mortgage loan commitments Mortgage banking income (31) (4) Total $ 933 $ 2,532 Effect of Derivative Instruments on Comprehensive Income The following table presents the effect of Customers' derivative financial instruments on comprehensive income for the three months ended March 31, 2022 and 2021. Amount of Gain (Loss) Recognized in OCI on Derivatives (1) Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Three Months Ended March 31, Three Months Ended (amounts in thousands) 2022 2021 2022 2021 Derivatives in cash flow hedging relationships: Interest rate swaps $ — $ 9,113 Interest expense $ — $ (1,459) Other non-interest income (2) — (24,467) $ — $ (25,926) (1) Amounts presented are net of taxes. See NOTE 5 – CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) for the total effect on other comprehensive income (loss) from derivatives designated as cash flow hedges for the periods presented. (2) Includes loss on cash flow hedge derivative terminations.
Summary of Offsetting of Financial Assets and Derivative AssetsThe following tables present derivative instruments that are subject to enforceable master netting arrangements. Customers' interest rate swaps and interest rate caps with institutional counterparties are subject to master netting arrangements and are included in the tables below. Interest rate swaps and interest rate caps with commercial banking customers and residential mortgage loan commitments are not subject to master netting arrangements and are excluded from the tables below. Customers has not made a policy election to offset its derivative positions. Gross Amounts Recognized on the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheet (amounts in thousands) Financial Instruments Cash Collateral Received/(Posted) Net Amount March 31, 2022 Interest rate derivative assets with institutional counterparties $ 6,546 $ — $ — $ 6,546 Interest rate derivative liabilities with institutional counterparties $ 4,115 $ — $ (4,115) $ — Gross Amounts Recognized on the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheet (amounts in thousands) Financial Instruments Cash Collateral Received/(Posted) Net Amount December 31, 2021 Interest rate derivative assets with institutional counterparties $ — $ — $ — $ — Interest rate derivative liabilities with institutional counterparties $ 23,348 $ — $ (23,348) $ —
Summary of Offsetting of Financial Liabilities and Derivative LiabilitiesThe following tables present derivative instruments that are subject to enforceable master netting arrangements. Customers' interest rate swaps and interest rate caps with institutional counterparties are subject to master netting arrangements and are included in the tables below. Interest rate swaps and interest rate caps with commercial banking customers and residential mortgage loan commitments are not subject to master netting arrangements and are excluded from the tables below. Customers has not made a policy election to offset its derivative positions. Gross Amounts Recognized on the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheet (amounts in thousands) Financial Instruments Cash Collateral Received/(Posted) Net Amount March 31, 2022 Interest rate derivative assets with institutional counterparties $ 6,546 $ — $ — $ 6,546 Interest rate derivative liabilities with institutional counterparties $ 4,115 $ — $ (4,115) $ — Gross Amounts Recognized on the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheet (amounts in thousands) Financial Instruments Cash Collateral Received/(Posted) Net Amount December 31, 2021 Interest rate derivative assets with institutional counterparties $ — $ — $ — $ — Interest rate derivative liabilities with institutional counterparties $ 23,348 $ — $ (23,348) $ —

Description of the Business - A

Description of the Business - Additional Information (Detail)Mar. 31, 2022branch
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of branches (branch)12

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($) $ in ThousandsJan. 04, 2021May 31, 2021Mar. 31, 2022Mar. 31, 2021Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of non-controlling interest in BMT $ 0 $ 23,125
Special dividend (shares)0.15389
Deposits held16,415,560 $ 16,777,924
Discontinued Operations | BankMobile Technologies, Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of non-controlling interest in BMT $ 23,100
Additional consideration from sale of non-controlling interest in BMT $ 3,700
Share consideration, shares4,876,387
Special dividend (shares)0.15389
Share consideration related to severance, shares1,348,748
Percentage of common stock52.00%
Expenses under the deposit servicing agreement17,800 $ 13,700
Deposits held $ 2,200,000 $ 1,800,000
Discontinued Operations | BankMobile Technologies, Inc. | Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transition services agreement, term1 year
Discontinued Operations | BankMobile Technologies, Inc. | Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transition services agreement, term10 years

Discontinued Operations - Incom

Discontinued Operations - Income Statement (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Discontinued operations:
Loss from discontinued operations before income taxes $ 0 $ (20,354)
Income tax expense from discontinued operations0 17,682
Net loss from discontinued operations0 (38,036)
BankMobile Technologies, Inc. | Discontinued Operations, Disposed of by Sale
Discontinued operations:
Non-interest income0 0
Non-interest expense0 20,354
Loss from discontinued operations before income taxes0 (20,354)
Income tax expense from discontinued operations0 17,682
Net loss from discontinued operations $ 0 $ (38,036)

Earnings (Loss) Per Share - Com

Earnings (Loss) Per Share - Components of Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Earnings Per Share [Abstract]
Net income from continuing operations available to common shareholders $ 74,896 $ 71,240
Net loss from discontinued operations0 (38,036)
Net income available to common shareholders $ 74,896 $ 33,204
Weighted-average number of common shares outstanding - basic (shares)32,957,033 31,883,946
Share-based compensation plans (shares)1,370,032 957,765
Weighted-average number of common shares - diluted (shares)34,327,065 32,841,711
Basic earnings per common share from continuing operations (usd per share) $ 2.27 $ 2.23
Basic earnings (loss) per common share from discontinued operations (usd per share)0 (1.19)
Basic earnings (loss) per common share (usd per share)2.271.04
Diluted earnings per common share from continuing operations (usd per share)2.182.17
Diluted earnings (loss) per common share from discontinued operations (usd per share)0 (1.16)
Diluted earnings (loss) per common share (usd per share) $ 2.18 $ 1.01

Earnings (Loss) Per Share - Ant

Earnings (Loss) Per Share - Anti-dilutive Securities Excluded from Computation of Earnings (Loss) Per Share (Detail) - shares3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Share-based compensation awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (shares)0 277,725

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income (Loss) By Component (Detail) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance $ 1,366,217 $ 1,117,086
Unrealized gains (losses) arising during period, before tax(78,858)12,715
Income tax effect20,503 (3,306)
Other comprehensive income (loss) before reclassifications(58,355)9,409
Reclassification adjustments for (gains) losses included in net income, before tax1,063 2,360
Income tax effect(276)(614)
Amounts reclassified from accumulated other comprehensive income (loss) to net income787 1,746
Other comprehensive income (loss), net of income tax effect(57,568)11,155
Ending balance1,377,406 1,188,721
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance(4,980)(5,764)
Other comprehensive income (loss), net of income tax effect(57,568)11,155
Ending balance(62,548)5,391
Unrealized Gains (Losses) on Available for Sale Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance(4,980)23,312
Unrealized gains (losses) arising during period, before tax(78,858)400
Income tax effect20,503 (104)
Other comprehensive income (loss) before reclassifications(58,355)296
Reclassification adjustments for (gains) losses included in net income, before tax1,063 (23,566)
Income tax effect(276)6,127
Amounts reclassified from accumulated other comprehensive income (loss) to net income787 (17,439)
Other comprehensive income (loss), net of income tax effect(57,568)(17,143)
Ending balance(62,548)6,169
Unrealized Gains (Losses) on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance0 (29,076)
Unrealized gains (losses) arising during period, before tax0 12,315
Income tax effect0 (3,202)
Other comprehensive income (loss) before reclassifications0 9,113
Reclassification adjustments for (gains) losses included in net income, before tax0 25,926
Income tax effect0 (6,741)
Amounts reclassified from accumulated other comprehensive income (loss) to net income0 19,185
Other comprehensive income (loss), net of income tax effect0 28,298
Ending balance $ 0 $ (778)

Investment Securities - Summary

Investment Securities - Summary of Amortized Cost and Approximate Fair Value of Investment Securities (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost $ 4,232,729 $ 3,799,851
Allowance for Credit Losses(728)
Gross Unrealized Gains2,296 7,427
Gross Unrealized Losses(90,268)(15,703)
Fair Value4,144,029 3,791,575
Equity securities25,824 25,575
Investment securities, at fair value4,169,853 3,817,150
Available-for-sale debt securities, accrued interest14,300 11,000
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost351,847 297,291
Allowance for Credit Losses(728)
Gross Unrealized Gains87 253
Gross Unrealized Losses(7,587)(119)
Fair Value343,619 297,425
Agency-guaranteed residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost9,242 9,865
Allowance for Credit Losses0
Gross Unrealized Gains0 0
Gross Unrealized Losses(973)(312)
Fair Value8,269 9,553
Agency-guaranteed commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost2,140 2,162
Allowance for Credit Losses0
Gross Unrealized Gains0 0
Gross Unrealized Losses(95)(10)
Fair Value2,045 2,152
Agency-guaranteed residential collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost618,998 199,091
Allowance for Credit Losses0
Gross Unrealized Gains833 154
Gross Unrealized Losses(16,428)(2,315)
Fair Value603,403 196,930
Agency-guaranteed commercial collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost172,410 242,668
Allowance for Credit Losses0
Gross Unrealized Gains0 53
Gross Unrealized Losses(9,811)(3,877)
Fair Value162,599 238,844
Collateralized loan obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost1,010,938 1,067,770
Allowance for Credit Losses0
Gross Unrealized Gains0 247
Gross Unrealized Losses(6,576)(1,215)
Fair Value1,004,362 1,066,802
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost148,993 149,054
Allowance for Credit Losses0
Gross Unrealized Gains0 53
Gross Unrealized Losses(1,368)(180)
Fair Value147,625 148,927
Corporate notes
Debt Securities, Available-for-sale [Line Items]
Amortized Cost607,230 575,273
Allowance for Credit Losses0
Gross Unrealized Gains1,376 6,334
Gross Unrealized Losses(14,856)(1,561)
Fair Value593,750 580,046
Private label collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost1,302,400 1,248,142
Allowance for Credit Losses0
Gross Unrealized Gains0 333
Gross Unrealized Losses(31,993)(6,010)
Fair Value1,270,407 1,242,465
State and political subdivision debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost8,531 8,535
Allowance for Credit Losses0
Gross Unrealized Gains0 0
Gross Unrealized Losses(581)(104)
Fair Value $ 7,950 $ 8,431

Investment Securities - Additio

Investment Securities - Additional Information (Detail) $ in Thousands1 Months Ended3 Months Ended
Jun. 30, 2021USD ($)Mar. 31, 2022USD ($)securityassetBackedSecuritycontractMar. 31, 2021USD ($)Dec. 31, 2021USD ($)security
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales of foreign subsidiaries $ 3,800
Loss on sale of foreign subsidiaries $ 2,800
Unrealized gain on investment securities $ 1,000
Proceeds from sales of investment securities available for sale $ 155,954 353,915
Realized gain $ 2,000 23,600
Realized loss $ 1,000
Number of available-for-sale investment securities, unrealized loss position, less than twelve month category | security160
Number of available-for-sale investment securities, unrealized loss position, twelve month or more category | contract15
Number of asset-backed securities with deterioration in future estimated cash flows | assetBackedSecurity4
Number of available-for-sale investment securities, unrealized loss position | security175 117
Pledged investment securities fair value $ 16,900 $ 11,300

Investment Securities - Summa_2

Investment Securities - Summary of Available-for-Sale Debt Securities by Stated Maturity (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Due in one year or less, amortized cost $ 4,992
Due after one years through five years, amortized cost419,539
Due after five through ten years, amortized cost191,230
Amortized Cost4,232,729 $ 3,799,851
Due in one year or less, fair value4,999
Due after one years through five years, fair value409,141
Due after five through ten years, fair value187,560
Total Debt Securities Fair Value4,144,029 3,791,575
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, without single maturity date, amortized cost351,847
Amortized Cost351,847 297,291
Debt securities, available-for-sale, without single maturity date, fair value343,619
Total Debt Securities Fair Value343,619 297,425
Collateralized loan obligations
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, without single maturity date, amortized cost1,010,938
Amortized Cost1,010,938 1,067,770
Debt securities, available-for-sale, without single maturity date, fair value1,004,362
Total Debt Securities Fair Value1,004,362 1,066,802
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, without single maturity date, amortized cost148,993
Amortized Cost148,993 149,054
Debt securities, available-for-sale, without single maturity date, fair value147,625
Total Debt Securities Fair Value147,625 148,927
Agency-guaranteed residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, without single maturity date, amortized cost9,242
Amortized Cost9,242 9,865
Debt securities, available-for-sale, without single maturity date, fair value8,269
Total Debt Securities Fair Value8,269 9,553
Agency-guaranteed commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, without single maturity date, amortized cost2,140
Amortized Cost2,140 2,162
Debt securities, available-for-sale, without single maturity date, fair value2,045
Total Debt Securities Fair Value2,045 2,152
Agency-guaranteed residential collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, without single maturity date, amortized cost618,998
Amortized Cost618,998 199,091
Debt securities, available-for-sale, without single maturity date, fair value603,403
Total Debt Securities Fair Value603,403 196,930
Agency-guaranteed commercial collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, without single maturity date, amortized cost172,410
Amortized Cost172,410 242,668
Debt securities, available-for-sale, without single maturity date, fair value162,599
Total Debt Securities Fair Value162,599 238,844
Private label collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, without single maturity date, amortized cost1,302,400
Amortized Cost1,302,400 1,248,142
Debt securities, available-for-sale, without single maturity date, fair value1,270,407
Total Debt Securities Fair Value $ 1,270,407 $ 1,242,465

Investment Securities - Gross U

Investment Securities - Gross Unrealized Losses and Fair Value, Aggregated by Investment Category (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value $ 3,055,315 $ 2,024,753
Less than 12 Months, Unrealized Losses(73,883)(15,567)
12 Months or More, Fair Value156,695 6,818
12 Months or More, Unrealized Losses(12,630)(136)
Fair Value, Total3,212,010 2,031,571
Unrealized Losses(86,513)(15,703)
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value199,725 54,753
Less than 12 Months, Unrealized Losses(3,832)(119)
12 Months or More, Fair Value0 0
12 Months or More, Unrealized Losses0 0
Fair Value, Total199,725 54,753
Unrealized Losses(3,832)(119)
Agency-guaranteed residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value0 9,554
Less than 12 Months, Unrealized Losses0 (312)
12 Months or More, Fair Value8,269 0
12 Months or More, Unrealized Losses(973)0
Fair Value, Total8,269 9,554
Unrealized Losses(973)(312)
Agency-guaranteed commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value2,045 2,152
Less than 12 Months, Unrealized Losses(95)(10)
12 Months or More, Fair Value0 0
12 Months or More, Unrealized Losses0 0
Fair Value, Total2,045 2,152
Unrealized Losses(95)(10)
Agency-guaranteed residential collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value434,524 173,492
Less than 12 Months, Unrealized Losses(16,428)(2,315)
12 Months or More, Fair Value0 0
12 Months or More, Unrealized Losses0 0
Fair Value, Total434,524 173,492
Unrealized Losses(16,428)(2,315)
Agency-guaranteed commercial collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value95,995 118,334
Less than 12 Months, Unrealized Losses(3,764)(3,877)
12 Months or More, Fair Value66,605 0
12 Months or More, Unrealized Losses(6,047)0
Fair Value, Total162,600 118,334
Unrealized Losses(9,811)(3,877)
Collateralized loan obligations
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value934,954 715,250
Less than 12 Months, Unrealized Losses(6,457)(1,215)
12 Months or More, Fair Value25,510 0
12 Months or More, Unrealized Losses(119)0
Fair Value, Total960,464 715,250
Unrealized Losses(6,576)(1,215)
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value129,365 122,597
Less than 12 Months, Unrealized Losses(1,368)(180)
12 Months or More, Fair Value0 0
12 Months or More, Unrealized Losses0 0
Fair Value, Total129,365 122,597
Unrealized Losses(1,368)(180)
Corporate notes
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value393,997 188,100
Less than 12 Months, Unrealized Losses(13,972)(1,561)
12 Months or More, Fair Value14,115 0
12 Months or More, Unrealized Losses(884)0
Fair Value, Total408,112 188,100
Unrealized Losses(14,856)(1,561)
Private label collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value856,760 632,091
Less than 12 Months, Unrealized Losses(27,386)(5,874)
12 Months or More, Fair Value42,196 6,818
12 Months or More, Unrealized Losses(4,607)(136)
Fair Value, Total898,956 638,909
Unrealized Losses(31,993)(6,010)
State and political subdivision debt securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value7,950 8,430
Less than 12 Months, Unrealized Losses(581)(104)
12 Months or More, Fair Value0 0
12 Months or More, Unrealized Losses0 0
Fair Value, Total7,950 8,430
Unrealized Losses $ (581) $ (104)

Investment Securities - Credit

Investment Securities - Credit Valuation Allowance for Available For Sale Debt Securities (Details) - Asset-backed securities $ in Thousands3 Months Ended
Mar. 31, 2022USD ($)
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance at January 1, $ 0
Credit losses on securities for which credit losses were not previously recorded728
Balance at March 31, $ 728

Loans Held for Sale - Compositi

Loans Held for Sale - Composition of Loans Held for Sale (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Receivables Held-for-sale [Abstract]
Home equity conversion mortgages, at lower of cost or fair value $ 507 $ 507
Residential mortgage loans, at fair value2,496 15,747
Total consumer loans held for sale3,003 16,254
Loans held for sale $ 3,003 $ 16,254

Loans Held for Sale - Narrative

Loans Held for Sale - Narrative (Details) - USD ($) $ in MillionsMar. 31, 2022Dec. 31, 2021
Receivables Held-for-sale [Abstract]
Loans held-for-sale (including nonperforming loans) $ 0.5 $ 0.5

Loans and Leases Receivable a_3

Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases - Schedule of Loans and Leases Receivable (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021Mar. 31, 2021Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, mortgage warehouse, at fair value $ 1,755,758 $ 2,284,325
Loans receivable, PPP2,195,902 3,250,008
Loans and leases receivable10,118,855 9,018,298
Allowance for credit losses on loans and leases(145,847)(137,804) $ (128,736) $ (144,176)
Total loans and leases receivable, net of allowance for credit losses on loans and leases13,924,668 14,414,827
Deferred (fees) costs and unamortized (discounts) premiums, net(22,800)(52,000)
Multi-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable1,705,027 1,486,308
Allowance for credit losses on loans and leases(7,437)(4,477)(8,026)(12,620)
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable161,024 198,981
Allowance for credit losses on loans and leases(939)(692)(4,103)(5,871)
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable466,423 334,730
Allowance for credit losses on loans and leases(4,685)(2,383)(3,209)(3,977)
Manufactured housing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable50,669 52,861
Allowance for credit losses on loans and leases(4,342)(4,278)(4,800)(5,190)
Installment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable1,897,706 1,744,475
Allowance for credit losses on loans and leases(107,883)(103,849) $ (83,539) $ (75,315)
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable7,704,057 6,886,232
Commercial | Multi-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable1,705,027 1,486,308
Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable3,995,802 3,424,783
Commercial | Commercial real estate owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable701,893 654,922
Commercial | Commercial real estate non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable1,140,311 1,121,238
Commercial | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable161,024 198,981
Commercial | Direct Finance Equipment Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable150,700 146,500
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable2,414,798 2,132,066
Consumer | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable466,423 334,730
Consumer | Manufactured housing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable50,669 52,861
Consumer | Installment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable $ 1,897,706 $ 1,744,475

Loans and Leases Receivable a_4

Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases - Additional Information (Detail)3 Months Ended
Mar. 31, 2022USD ($)loancommitmentMar. 31, 2021USD ($)loanDec. 31, 2021USD ($)commitmentDec. 31, 2020USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Accrued interest $ 80,700,000 $ 81,600,000
Loans receivable, excluding accrued interest $ 13,924,668,000 14,414,827,000
Loans held for sale, average life from purchase to sale30 days
Loans and leases receivable $ 10,118,855,000 9,018,298,000
Interest income157,175,000 $ 152,117,000
Allowance for credit loss, excluding accrued interest145,847,000 $ 128,736,000 137,804,000 $ 144,176,000
Allowance for credit loss, period increase8,000,000
Loans reported as TDR $ 16,600,000 16,500,000
Minimum performance requirement (months)6 months
Lease receivable, TDR $ 0 $ 0
Number of loans | loan42 28
Number of commitments to lend additional funds (commitment) | commitment0 0
Loans pledged as collateral $ 3,600,000,000 $ 3,700,000,000
Small Business Administration (SBA), CARES Act, Paycheck Protection Program
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans and leases receivable2,200,000,000 3,300,000,000
Interest income $ 36,900,000 $ 38,800,000
Troubled Debt Restructurings
Financing Receivable, Troubled Debt Restructuring [Line Items]
Impairment modification minimum period (months)9 months
Commercial real estate non-owner occupied
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amount deferred, CARES Act $ 3,300,000
Consumer loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amount deferred, CARES Act6,100,000
Forgiveness of debt
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans | loan0 0
Commercial Real Estate | Commercial and industrial | Collateral Dependent Loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans receivable, excluding accrued interest $ 31,800,000 $ 38,900,000

Loans and Leases Receivable a_5

Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases - Performance Status (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable $ 10,118,855 $ 9,018,298
Threshold period past due30 days
Purchased-credit-impaired loans $ 9,400 9,900
Small Business Administration (SBA), CARES Act, Paycheck Protection Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable2,200,000 3,300,000
Total past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable74,124 68,433
30 to 59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable30,316 18,374
30 to 59 Days Past Due | Small Business Administration (SBA), CARES Act, Paycheck Protection Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable37,800 6,300
60 to 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable5,686 8,654
60 Days or More Past Due | Small Business Administration (SBA), CARES Act, Paycheck Protection Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable88,300 21,800
90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable38,122 41,405
Loans and leases not past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable10,044,731 8,949,865
Multi-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable1,705,027 1,486,308
Multi-family | Total past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable26,871 22,624
Multi-family | 30 to 59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable10,690 1,682
Multi-family | 60 to 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable0 2,707
Multi-family | 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable16,181 18,235
Multi-family | Loans and leases not past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable1,678,156 1,463,684
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable3,995,802 3,424,783
Commercial and industrial | Total past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable8,115 8,117
Commercial and industrial | 30 to 59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable2,591 2,093
Commercial and industrial | 60 to 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable92 95
Commercial and industrial | 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable5,432 5,929
Commercial and industrial | Loans and leases not past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable3,987,687 3,416,666
Commercial real estate owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable701,893 654,922
Commercial real estate owner occupied | Total past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable3,981 1,591
Commercial real estate owner occupied | 30 to 59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable2,935 287
Commercial real estate owner occupied | 60 to 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable0 0
Commercial real estate owner occupied | 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable1,046 1,304
Commercial real estate owner occupied | Loans and leases not past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable697,912 653,331
Commercial real estate non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable1,140,311 1,121,238
Commercial real estate non-owner occupied | Total past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable1,302 2,815
Commercial real estate non-owner occupied | 30 to 59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable0 0
Commercial real estate non-owner occupied | 60 to 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable0 0
Commercial real estate non-owner occupied | 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable1,302 2,815
Commercial real estate non-owner occupied | Loans and leases not past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable1,139,009 1,118,423
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable161,024 198,981
Construction | Total past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable0 0
Construction | 30 to 59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable0 0
Construction | 60 to 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable0 0
Construction | 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable0 0
Construction | Loans and leases not past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable161,024 198,981
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable466,423 334,730
Residential real estate | Total past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable10,405 9,834
Residential real estate | 30 to 59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable5,151 4,655
Residential real estate | 60 to 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable446 789
Residential real estate | 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable4,808 4,390
Residential real estate | Loans and leases not past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable456,018 324,896
Manufactured housing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable50,669 52,861
Manufactured housing | Total past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable5,743 8,025
Manufactured housing | 30 to 59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable975 2,308
Manufactured housing | 60 to 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable280 768
Manufactured housing | 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable4,488 4,949
Manufactured housing | Loans and leases not past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable44,926 44,836
Installment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable1,897,706 1,744,475
Installment | Total past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable17,707 15,427
Installment | 30 to 59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable7,974 7,349
Installment | 60 to 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable4,868 4,295
Installment | 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable4,865 3,783
Installment | Loans and leases not past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable $ 1,879,999 $ 1,729,048

Loans and Leases Receivable a_6

Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases - Summary of Amortized Cost of Loans and Leases on Nonaccrual Status (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Financing Receivable, Impaired [Line Items]
Nonaccrual loans with no related allowance $ 34,976 $ 41,508
Nonaccrual loans with related allowance8,295 7,605
Total nonaccrual loans43,271 49,113
Multi-family
Financing Receivable, Impaired [Line Items]
Nonaccrual loans with no related allowance17,869 22,654
Nonaccrual loans with related allowance0 0
Total nonaccrual loans17,869 22,654
Commercial and industrial
Financing Receivable, Impaired [Line Items]
Nonaccrual loans with no related allowance5,490 5,837
Nonaccrual loans with related allowance0 259
Total nonaccrual loans5,490 6,096
Commercial real estate owner occupied
Financing Receivable, Impaired [Line Items]
Nonaccrual loans with no related allowance2,191 2,475
Nonaccrual loans with related allowance0 0
Total nonaccrual loans2,191 2,475
Commercial real estate non-owner occupied
Financing Receivable, Impaired [Line Items]
Nonaccrual loans with no related allowance1,302 2,815
Nonaccrual loans with related allowance0 0
Total nonaccrual loans1,302 2,815
Residential real estate
Financing Receivable, Impaired [Line Items]
Nonaccrual loans with no related allowance8,124 7,727
Nonaccrual loans with related allowance0 0
Total nonaccrual loans8,124 7,727
Manufactured housing
Financing Receivable, Impaired [Line Items]
Nonaccrual loans with no related allowance0 0
Nonaccrual loans with related allowance3,430 3,563
Total nonaccrual loans3,430 3,563
Installment
Financing Receivable, Impaired [Line Items]
Nonaccrual loans with no related allowance0 0
Nonaccrual loans with related allowance4,865 3,783
Total nonaccrual loans $ 4,865 $ 3,783

Loans and Leases Receivable a_7

Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases - Schedule of Allowance for Credit Losses (Detail) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance $ 137,804 $ 144,176
Charge-offs(9,170)(14,646)
Recoveries1,944 2,125
Provision (benefit) for credit losses on loans and leases15,269 (2,919)
Ending balance145,847 128,736
Multi-family
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance4,477 12,620
Charge-offs0 (1,132)
Recoveries337 0
Provision (benefit) for credit losses on loans and leases2,623 (3,462)
Ending balance7,437 8,026
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance12,702 12,239
Charge-offs(301)(635)
Recoveries360 260
Provision (benefit) for credit losses on loans and leases(1,996)(4,361)
Ending balance10,765 7,503
Commercial real estate owner occupied
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance3,213 9,512
Charge-offs0 (142)
Recoveries7 8
Provision (benefit) for credit losses on loans and leases621 (3,443)
Ending balance3,841 5,935
Commercial real estate non-owner occupied
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance6,210 19,452
Charge-offs0 0
Recoveries8 10
Provision (benefit) for credit losses on loans and leases(263)(7,841)
Ending balance5,955 11,621
Construction
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance692 5,871
Charge-offs0 0
Recoveries113 5
Provision (benefit) for credit losses on loans and leases134 (1,773)
Ending balance939 4,103
Residential real estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance2,383 3,977
Charge-offs(4)(50)
Recoveries6 10
Provision (benefit) for credit losses on loans and leases2,300 (728)
Ending balance4,685 3,209
Manufactured housing
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance4,278 5,190
Charge-offs0 0
Recoveries0 0
Provision (benefit) for credit losses on loans and leases64 (390)
Ending balance4,342 4,800
Installment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance103,849 75,315
Charge-offs(8,865)(12,687)
Recoveries1,113 1,832
Provision (benefit) for credit losses on loans and leases11,786 19,079
Ending balance $ 107,883 $ 83,539

Loans and Leases Receivable a_8

Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases - Analysis of Loans Modified in Troubled Debt Restructuring by Type of Concession (Detail) $ in Thousands3 Months Ended
Mar. 31, 2022USD ($)loanMar. 31, 2021USD ($)loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans | loan42 28
Recorded investment | $ $ 797 $ 725
Interest-rate reductions
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans | loan10 8
Recorded investment | $ $ 346 $ 184
Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans | loan32 20
Recorded investment | $ $ 451 $ 541

Loans and Leases Receivable a_9

Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases - Summary of Loans Modified in Troubled Debt Restructurings and Related Recorded Investment (Detail) $ in Thousands3 Months Ended
Mar. 31, 2022USD ($)loanMar. 31, 2021USD ($)loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans | loan24 20
Recorded Investment | $ $ 325 $ 354
Manufactured housing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans | loan1 3
Recorded Investment | $ $ 49 $ 48
Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans | loan0 1
Recorded Investment | $ $ 0 $ 56
Installment
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans | loan23 16
Recorded Investment | $ $ 276 $ 250

Loans and Leases Receivable _10

Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases - Credit Ratings (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Current year $ 1,859,044 $ 2,885,998
Fiscal year before current year2,531,304 1,162,342
Two years before current year1,003,906 983,444
Three years before current year834,756 553,607
Four years before current year413,764 732,071
Prior1,721,340 1,103,651
Revolving loans amortized cost basis1,754,741 1,597,185
Revolving loans converted to term0 0
Loans and leases receivable10,118,855 9,018,298
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases receivable7,704,057 6,886,232
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases receivable2,414,798 2,132,066
Commercial loans and leases receivable | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year1,538,752 1,803,457
Fiscal year before current year1,467,209 762,301
Two years before current year665,036 618,104
Three years before current year535,836 509,267
Four years before current year369,536 723,019
Prior1,537,467 962,716
Revolving loans amortized cost basis1,590,221 1,507,368
Revolving loans converted to term0 0
Loans and leases receivable7,704,057 6,886,232
Multi-family
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases receivable1,705,027 1,486,308
Multi-family | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year385,034 403,075
Fiscal year before current year402,222 133,452
Two years before current year132,732 23,068
Three years before current year22,884 219,006
Four years before current year131,883 339,368
Prior630,272 368,339
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable1,705,027 1,486,308
Multi-family | Pass | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year385,034 403,075
Fiscal year before current year400,699 133,452
Two years before current year132,732 23,068
Three years before current year22,884 209,070
Four years before current year126,850 282,663
Prior520,645 316,491
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable1,588,844 1,367,819
Multi-family | Special mention | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year1,523 0
Two years before current year0 0
Three years before current year 9,936
Four years before current year5,033 18,489
Prior49,200 28,776
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable55,756 57,201
Multi-family | Substandard | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 0
Three years before current year0 0
Four years before current year0 38,216
Prior60,427 23,072
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable60,427 61,288
Multi-family | Doubtful | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 0
Three years before current year0 0
Four years before current year0 0
Prior0 0
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable0 0
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases receivable3,995,802 3,424,783
Commercial and industrial | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year1,008,340 993,278
Fiscal year before current year647,655 348,710
Two years before current year289,940 279,545
Three years before current year229,602 103,181
Four years before current year57,836 97,470
Prior174,540 96,716
Revolving loans amortized cost basis1,587,889 1,505,883
Revolving loans converted to term0 0
Loans and leases receivable3,995,802 3,424,783
Commercial and industrial | Pass | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year1,008,340 974,016
Fiscal year before current year627,255 337,045
Two years before current year284,982 266,677
Three years before current year224,881 86,691
Four years before current year57,750 55,536
Prior136,853 89,860
Revolving loans amortized cost basis1,578,024 1,484,287
Revolving loans converted to term0 0
Loans and leases receivable3,918,085 3,294,112
Commercial and industrial | Special mention | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 476
Fiscal year before current year0 1,408
Two years before current year57 3,325
Three years before current year156 4,904
Four years before current year0 36,252
Prior36,223 92
Revolving loans amortized cost basis2,524 14,662
Revolving loans converted to term0 0
Loans and leases receivable38,960 61,119
Commercial and industrial | Substandard | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year 18,786
Fiscal year before current year20,400 10,257
Two years before current year4,901 9,543
Three years before current year4,565 11,586
Four years before current year86 5,682
Prior1,464 6,764
Revolving loans amortized cost basis7,341 6,934
Revolving loans converted to term0 0
Loans and leases receivable38,757 69,552
Commercial and industrial | Doubtful | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 0
Three years before current year0 0
Four years before current year0 0
Prior0 0
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable0 0
Commercial real estate owner occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases receivable701,893 654,922
Commercial real estate owner occupied | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year60,055 213,102
Fiscal year before current year210,933 59,348
Two years before current year59,025 131,252
Three years before current year128,640 70,993
Four years before current year70,603 68,941
Prior171,965 110,614
Revolving loans amortized cost basis672 672
Revolving loans converted to term0 0
Loans and leases receivable701,893 654,922
Commercial real estate owner occupied | Pass | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year60,055 213,102
Fiscal year before current year210,933 59,348
Two years before current year59,025 124,626
Three years before current year122,135 60,993
Four years before current year60,968 58,073
Prior150,564 99,219
Revolving loans amortized cost basis672 672
Revolving loans converted to term0 0
Loans and leases receivable664,352 616,033
Commercial real estate owner occupied | Special mention | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 2,876
Three years before current year3,010 318
Four years before current year0 2,044
Prior2,302 572
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable5,312 5,810
Commercial real estate owner occupied | Substandard | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 3,750
Three years before current year3,495 9,682
Four years before current year9,635 8,824
Prior19,099 10,823
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable32,229 33,079
Commercial real estate owner occupied | Doubtful | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 0
Three years before current year0 0
Four years before current year0 0
Prior0 0
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable0 0
Commercial real estate non-owner occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases receivable1,140,311 1,121,238
Commercial real estate non-owner occupied | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year73,544 136,897
Fiscal year before current year135,995 171,592
Two years before current year169,445 106,617
Three years before current year105,535 111,259
Four years before current year104,423 217,240
Prior551,369 377,633
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable1,140,311 1,121,238
Commercial real estate non-owner occupied | Pass | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year73,544 136,897
Fiscal year before current year135,995 149,898
Two years before current year147,873 95,504
Three years before current year76,351 66,040
Four years before current year65,061 153,509
Prior443,165 310,435
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable941,989 912,283
Commercial real estate non-owner occupied | Special mention | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 21,694
Two years before current year21,572 11,113
Three years before current year0 9,373
Four years before current year953 43,215
Prior6,069 20,540
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable28,594 105,935
Commercial real estate non-owner occupied | Substandard | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 0
Three years before current year29,184 35,846
Four years before current year38,409 20,516
Prior102,135 46,658
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable169,728 103,020
Commercial real estate non-owner occupied | Doubtful | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 0
Three years before current year0 0
Four years before current year0 0
Prior0 0
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable0 0
Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases receivable161,024 198,981
Construction | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year11,779 57,105
Fiscal year before current year70,404 49,199
Two years before current year13,894 77,622
Three years before current year49,175 4,828
Four years before current year4,791 0
Prior9,321 9,414
Revolving loans amortized cost basis1,660 813
Revolving loans converted to term0 0
Loans and leases receivable161,024 198,981
Construction | Pass | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year11,779 57,105
Fiscal year before current year70,404 49,199
Two years before current year13,894 77,622
Three years before current year49,175 4,828
Four years before current year4,791 0
Prior9,321 9,414
Revolving loans amortized cost basis1,660 813
Revolving loans converted to term0 0
Loans and leases receivable161,024 198,981
Construction | Special mention | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 0
Three years before current year0 0
Four years before current year0 0
Prior0 0
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable0 0
Construction | Substandard | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 0
Three years before current year0 0
Four years before current year0 0
Prior0 0
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable0 0
Construction | Doubtful | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 0
Three years before current year0 0
Four years before current year0 0
Prior0 0
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable0 0
Consumer loans | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current year320,292 1,082,541
Fiscal year before current year1,064,095 400,041
Two years before current year338,870 365,340
Three years before current year298,920 44,340
Four years before current year44,228 9,052
Prior183,873 140,935
Revolving loans amortized cost basis164,520 89,817
Revolving loans converted to term0 0
Loans and leases receivable2,414,798 2,132,066
Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases receivable466,423 334,730
Residential real estate | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current year8,713 107,854
Fiscal year before current year178,623 8,251
Two years before current year12,064 21,431
Three years before current year31,374 12,404
Four years before current year18,264 7,376
Prior131,546 87,622
Revolving loans amortized cost basis85,839 89,792
Revolving loans converted to term0 0
Loans and leases receivable466,423 334,730
Residential real estate | Consumer | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Current year8,713 107,854
Fiscal year before current year178,623 8,251
Two years before current year12,064 21,096
Three years before current year31,045 11,389
Four years before current year17,126 6,707
Prior127,537 84,035
Revolving loans amortized cost basis84,904 87,438
Revolving loans converted to term0 0
Loans and leases receivable460,012 326,770
Residential real estate | Consumer | Non-performing
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 335
Three years before current year329 1,015
Four years before current year1,138 669
Prior4,009 3,587
Revolving loans amortized cost basis935 2,354
Revolving loans converted to term0 0
Loans and leases receivable6,411 7,960
Manufactured housing
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases receivable50,669 52,861
Manufactured housing | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 253
Three years before current year248 299
Four years before current year291 73
Prior50,130 52,236
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable50,669 52,861
Manufactured housing | Consumer | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 253
Three years before current year248 299
Four years before current year291 73
Prior46,315 47,537
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable46,854 48,162
Manufactured housing | Consumer | Non-performing
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 0
Fiscal year before current year0 0
Two years before current year0 0
Three years before current year0 0
Four years before current year0 0
Prior3,815 4,699
Revolving loans amortized cost basis0 0
Revolving loans converted to term0 0
Loans and leases receivable3,815 4,699
Installment
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases receivable1,897,706 1,744,475
Installment | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current year311,579 974,687
Fiscal year before current year885,472 391,790
Two years before current year326,806 343,656
Three years before current year267,298 31,637
Four years before current year25,673 1,603
Prior2,197 1,077
Revolving loans amortized cost basis78,681 25
Revolving loans converted to term0 0
Loans and leases receivable1,897,706 1,744,475
Installment | Consumer | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Current year311,579 973,525
Fiscal year before current year883,638 390,788
Two years before current year325,741 341,582
Three years before current year265,764 31,481
Four years before current year25,590 1,601
Prior2,082 1,016
Revolving loans amortized cost basis78,600 25
Revolving loans converted to term0 0
Loans and leases receivable1,892,994 1,740,018
Installment | Consumer | Non-performing
Financing Receivable, Credit Quality Indicator [Line Items]
Current year0 1,162
Fiscal year before current year1,834 1,002
Two years before current year1,065 2,074
Three years before current year1,534 156
Four years before current year83 2
Prior115 61
Revolving loans amortized cost basis81 0
Revolving loans converted to term0 0
Loans and leases receivable $ 4,712 $ 4,457

Loans and Leases Receivable _11

Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases - Schedule of Loan Purchases and Sales (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchases $ 206,330 $ 115,849
Sales $ 14,281 $ 39,534
Purchase price as a percentage of loans outstanding98.10%101.00%
Net gain on sale of loans $ 2,100 $ 1,600
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchases146,874 0
Installment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchases59,456 115,849
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sales8,840 18,931
Commercial real estate owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sales5,441 2,237
Commercial real estate non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sales $ 0 $ 18,366

Leases - Lessee Narrative (Deta

Leases - Lessee Narrative (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Lessee, Lease, Description [Line Items]
Lessee, operating lease, renewal term15 years
Operating lease, lease not yet commenced, liability $ 7.1
Operating cash flows from operating leases $ 1.2 $ 1.1
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term3 months
Lessee, operating lease, term1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term8 years
Lessee, operating lease, term5 years

Leases - Right-of-Use Assets an

Leases - Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
ASSETS
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]Other assetsOther assets
Operating lease ROU assets $ 12,364 $ 12,677
LIABILITIES
Operating Lease, Liability, Statement of Financial Position [Extensible List]Other LiabilitiesOther Liabilities
Operating lease liabilities $ 14,003 $ 14,524

Leases - Lease, Cost (Details)

Leases - Lease, Cost (Details) - USD ($)3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Leases [Abstract]
Operating lease cost $ 998,000 $ 1,117,000
Variable lease cost $ 0 $ 0

Leases - Maturities of Non-canc

Leases - Maturities of Non-cancelable Lease Liabilities (Details) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Leases [Abstract]
2022 $ 3,238
20234,018
20242,991
20252,060
20261,125
Thereafter1,791
Total minimum payments15,223
Less: interest1,220
Present value of lease liabilities $ 14,003 $ 14,524

Leases - Summary of Lease Term

Leases - Summary of Lease Term and Discount Rate (Details)Mar. 31, 2022Dec. 31, 2021
Leases [Abstract]
Operating lease, weighted average remaining lease term (years)4 years 8 months 12 days3 years 10 months 24 days
Operating lease, weighted average discount rate, percent2.82%2.74%

Leases - Lessor Narrative (Deta

Leases - Lessor Narrative (Details) - USD ($) $ in MillionsMar. 31, 2022Dec. 31, 2021
Minimum
Lessor, Lease, Description [Line Items]
Lessor, lease, term of contract (years)24 months
Maximum
Lessor, Lease, Description [Line Items]
Lessor, lease, term of contract (years)120 months
COVID-19 | Finance Lease
Lessor, Lease, Description [Line Items]
Book value $ 22.8
COVID-19 | Operating Lease
Lessor, Lease, Description [Line Items]
Book value $ 7.4

Leases - Lessor, Lease Receivab

Leases - Lessor, Lease Receivables and Investment in Operating Leases and their Corresponding Balance Sheet Location (Details) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Direct financing leases
Lease receivables $ 139,203 $ 134,855
Guaranteed residual assets11,631 11,397
Unguaranteed residual assets5,820 5,665
Deferred initial direct costs623 448
Unearned income(5,917)(5,383)
Net investment in direct financing leases151,360 146,982
Operating leases
Investment in operating leases159,177 158,135
Accumulated depreciation(43,802)(40,749)
Deferred initial direct costs809 872
Net investment in operating leases116,184 118,258
Total lease assets $ 267,544 $ 265,240

Borrowings - Short Term Borrowi

Borrowings - Short Term Borrowings (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Debt Disclosure [Abstract]
FHLB advances $ 0 $ 700,000
Federal funds purchased700,000 75,000
Total short-term debt $ 700,000 $ 775,000
FHLB advances, rate0.00%0.26%
Federal funds purchased, rate0.40%0.05%

Borrowings - Summary of Bancorp

Borrowings - Summary of Bancorps Short Term Borrowings (Detail) - USD ($) $ in Thousands3 Months Ended12 Months Ended
Mar. 31, 2022Dec. 31, 2021
FHLB Advances
Short-term Debt [Line Items]
Maximum outstanding at any month end $ 0 $ 850,000
Average balance during the period $ 127,778 $ 264,704
Weighted-average interest rate during the period0.32%2.35%
Federal Funds Purchased
Short-term Debt [Line Items]
Maximum outstanding at any month end $ 700,000 $ 365,000
Average balance during the period $ 88,611 $ 22,110
Weighted-average interest rate during the period0.33%0.07%

Borrowings - Narrative (Detail)

Borrowings - Narrative (Detail) - USD ($) $ in BillionsMar. 31, 2022Dec. 31, 2021
Federal Funds Purchased
Debt Instrument [Line Items]
Aggregate availability under federal funds line $ 0.7 $ 1.3

Borrowings - FHLB and FRB Advan

Borrowings - FHLB and FRB Advances (Details) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Debt Disclosure [Abstract]
Total maximum borrowing capacity with the FHLB $ 3,337,211 $ 2,973,635
Total maximum borrowing capacity with the FRB214,908 183,052
Qualifying loans serving as collateral against FHLB and FRB advances $ 4,218,252 $ 3,594,339

Borrowings - Long-term Debt (De

Borrowings - Long-term Debt (Details) - USD ($)3 Months Ended
Mar. 31, 2022Dec. 31, 2021
Senior Notes
Debt Instrument [Line Items]
Carrying Amount $ 223,230,000 $ 223,086,000
Senior Subordinated Notes
Debt Instrument [Line Items]
Carrying Amount181,742,000 181,673,000
Maturing August 2031 | Senior Notes
Debt Instrument [Line Items]
Carrying Amount $ 99,844,000 98,642,000
Rate2.875%
Issued Amount $ 100,000,000
Price100.00%
Maturing September 2024 | Senior Notes
Debt Instrument [Line Items]
Carrying Amount $ 24,702,000 24,672,000
Rate4.50%
Issued Amount $ 25,000,000
Price100.00%
Maturing June 2022 | Senior Notes
Debt Instrument [Line Items]
Carrying Amount $ 98,684,000 99,772,000
Rate3.95%
Issued Amount $ 100,000,000
Price99.775%
Maturing December 2034 | Senior Subordinated Notes
Debt Instrument [Line Items]
Carrying Amount $ 72,448,000 72,403,000
Rate5.375%
Issued Amount $ 74,750,000
Price100.00%
Maturing June 2029 | Senior Subordinated Notes
Debt Instrument [Line Items]
Carrying Amount $ 109,294,000 $ 109,270,000
Rate6.125%
Issued Amount $ 110,000,000
Price100.00%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maturing August 2031 | Senior Notes
Debt Instrument [Line Items]
Spread on variable interest rate2.35%
London Interbank Offered Rate (LIBOR) | Maturing June 2029 | Senior Subordinated Notes
Debt Instrument [Line Items]
Spread on variable interest rate3.443%

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Detail) $ / shares in Units, $ in ThousandsDec. 15, 2021Sep. 15, 2021USD ($)$ / sharesAug. 25, 2021sharesJun. 15, 2021Mar. 15, 2021Mar. 31, 2022USD ($)seriessharesDec. 31, 2021shares
Capital Unit [Line Items]
Stock repurchase program, number of shares authorized to be repurchased3,235,326
Percentage of company's outstanding shares10.00%
Stock repurchase program, remaining period1 year
Stock repurchased during period, shares115,324
Stock repurchased during period, value | $ $ 6,300
Preferred stock, number of series outstanding | series2
Redemption of preferred stock | $ $ 6,310
Preferred stock, shares outstanding (shares)5,700,000 5,700,000
Series C and D Preferred Stock
Capital Unit [Line Items]
Redemption of preferred stock | $ $ 82,500
Loss on redemption of preferred stock | $ $ 2,800
Series C Preferred Stock
Capital Unit [Line Items]
Preferred stock, redemption price per share (in usd per share) | $ / shares $ 25
Preferred stock, shares outstanding (shares)0
Series D Preferred Stock
Capital Unit [Line Items]
Preferred stock, redemption price per share (in usd per share) | $ / shares $ 25
Preferred stock, shares outstanding (shares)0
Stated rate (as a percent)6.50%
Series D Preferred Stock | London Interbank Offered Rate (LIBOR)
Capital Unit [Line Items]
Spread on variable interest rate5.09%
Series E Preferred Stock
Capital Unit [Line Items]
Stated rate (as a percent)6.45%
Series E Preferred Stock | London Interbank Offered Rate (LIBOR)
Capital Unit [Line Items]
Spread on variable interest rate5.14%
Series F Preferred Stock
Capital Unit [Line Items]
Stated rate (as a percent)6.00%
Series F Preferred Stock | London Interbank Offered Rate (LIBOR)
Capital Unit [Line Items]
Spread on variable interest rate4.762%

Shareholders' Equity - Preferre

Shareholders' Equity - Preferred Stock and Dividends Paid Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended
Mar. 31, 2022Mar. 31, 2021Dec. 31, 2021
Capital Unit [Line Items]
Preferred stock, shares issued (shares)5,700,000 5,700,000
Preferred stock, value $ 137,794 $ 137,794
Series E Preferred Stock
Capital Unit [Line Items]
Preferred stock, shares issued (shares)2,300,000 2,300,000
Preferred stock, value $ 55,593 $ 55,593
Initial Fixed Rate6.45%
Preferred stock, dividends, per share, cash paid (usd per share) $ 0.333922 $ 0.403125
Series E Preferred Stock | London Interbank Offered Rate (LIBOR)
Capital Unit [Line Items]
Floating rate of Three-Month LIBOR Plus:5.14%
Series F Preferred Stock
Capital Unit [Line Items]
Preferred stock, shares issued (shares)3,400,000 3,400,000
Preferred stock, value $ 82,201 $ 82,201
Initial Fixed Rate6.00%
Preferred stock, dividends, per share, cash paid (usd per share) $ 0.310297 $ 0.375
Series F Preferred Stock | London Interbank Offered Rate (LIBOR)
Capital Unit [Line Items]
Floating rate of Three-Month LIBOR Plus:4.762%

Regulatory Capital - Narrative

Regulatory Capital - Narrative (Details) - USD ($) $ in MillionsMar. 31, 2022Dec. 31, 2021
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Capital conservation buffer to risk weighted assets2.50%
Cumulative Effect, Period of Adoption, Adjustment
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cumulative capital transition impact $ 61.6
Capital transition provisions, benefit recognized, excluding amount previously phased in $ 46.2

Regulatory Capital - Summary of

Regulatory Capital - Summary of Capital Amounts, Tier 1 Risk Based and Tier 1 Leveraged Ratios (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity Tier 1 capital (to risk weighted assets), Actual Amount $ 1,344,684 $ 1,291,270
Tier 1 capital (to risk weighted assets), Actual Amount1,482,477 1,429,063
Total capital (to risk weighted assets), Actual Amount1,749,655 1,667,395
Tier 1 capital (to average assets), Actual Amount $ 1,482,477 $ 1,429,063
Common equity Tier 1 (to risk weighted assets), Actual Ratio9.893%9.981%
Tier 1 capital (to risk weighted assets), Actual Ratio0.10907 0.11046
Total capital (to risk weighted assets), Actual Ratio0.12873 0.12888
Tier 1 capital (to average assets), Actual Ratio0.07723 0.07413
Common equity Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes Amount $ 611,629 $ 582,179
Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes Amount815,505 776,238
Total capital (to risk weighted assets), For Capital Adequacy Purposes Amount1,087,340 1,034,984
Tier 1 capital (to average assets), For Capital Adequacy Purposes Amount $ 767,836 $ 771,084
Common equity Tier 1 (to risk weighted assets), For Capital Adequacy Purposes Ratio4.50%4.50%
Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes Ratio0.06000 0.06000
Total capital (to risk weighted assets), For Capital Adequacy Purposes Ratio0.08000 0.08000
Tier 1 capital (to average assets), For Capital Adequacy Purposes Ratio0.04000 0.04000
Common equity Tier 1 (to risk weighted assets), for Basel III amount $ 951,423 $ 905,611
Tier 1 (to risk weighted assets) Required for Basel III amount1,155,299 1,099,671
Total capital (to risk weighted assets), for Basel III amount1,427,134 1,358,417
Tier 1 (to risk average assets), for Basel III amount $ 767,836 $ 771,084
Common equity Tier 1 (to risk weighted assets), for Basel III ratio7.00%7.00%
Tier 1 capital (to risk weighted assets), for Basel III ratio8.50%8.50%
Total capital (to risk weighted assets), for Basel III ratio10.50%10.50%
Tier 1 capital (to average assets), for Basel III ratio4.00%4.00%
Customers Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity Tier 1 capital (to risk weighted assets), Actual Amount $ 1,573,796 $ 1,526,583
Tier 1 capital (to risk weighted assets), Actual Amount1,573,796 1,526,583
Total capital (to risk weighted assets), Actual Amount1,768,525 1,692,512
Tier 1 capital (to average assets), Actual Amount $ 1,573,796 $ 1,526,583
Common equity Tier 1 (to risk weighted assets), Actual Ratio11.598%11.825%
Tier 1 capital (to risk weighted assets), Actual Ratio0.11598 0.11825
Total capital (to risk weighted assets), Actual Ratio0.13032 0.13110
Tier 1 capital (to average assets), Actual Ratio0.08211 0.07925
Common equity Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes Amount $ 610,658 $ 580,943
Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes Amount814,211 774,591
Total capital (to risk weighted assets), For Capital Adequacy Purposes Amount1,085,615 1,032,788
Tier 1 capital (to average assets), For Capital Adequacy Purposes Amount $ 766,712 $ 770,528
Common equity Tier 1 (to risk weighted assets), For Capital Adequacy Purposes Ratio4.50%4.50%
Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes Ratio0.06000 0.06000
Total capital (to risk weighted assets), For Capital Adequacy Purposes Ratio0.08000 0.08000
Tier 1 capital (to average assets), For Capital Adequacy Purposes Ratio0.04000 0.04000
Common equity Tier 1 Capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount $ 882,062 $ 839,140
Tier 1 capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount1,085,615 1,032,788
Total capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount1,357,019 1,290,985
Tier 1 capital (to average assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount $ 958,391 $ 963,160
Common equity Tier 1 (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio6.50%6.50%
Tier 1 capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio0.08000 0.08000
Total capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio0.10000 0.10000
Tier 1 capital (to average assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio0.05000 0.05000
Common equity Tier 1 (to risk weighted assets), for Basel III amount $ 949,913 $ 903,689
Tier 1 (to risk weighted assets) Required for Basel III amount1,153,466 1,097,337
Total capital (to risk weighted assets), for Basel III amount1,424,870 1,355,534
Tier 1 (to risk average assets), for Basel III amount $ 766,712 $ 770,528
Common equity Tier 1 (to risk weighted assets), for Basel III ratio7.00%7.00%
Tier 1 capital (to risk weighted assets), for Basel III ratio8.50%8.50%
Total capital (to risk weighted assets), for Basel III ratio10.50%10.50%
Tier 1 capital (to average assets), for Basel III ratio4.00%4.00%

Disclosures About Fair Value _3

Disclosures About Fair Value of Financial Instruments - Narrative (Detail)3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]
Loans held for sale, average life from purchase to sale30 days

Disclosures About Fair Value _4

Disclosures About Fair Value of Financial Instruments - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, Carrying Amount $ 274,600 $ 518,032
Cash and cash equivalents, Estimated Fair Value274,600 518,032
Debt securities, available for sale4,144,029 3,791,575
Loans held for sale3,003 16,254
Total loans and leases receivable, net of allowance for credit losses on loans and leases13,924,668
Total loans and leases receivable, net of allowance for credit losses on loans and leases13,924,668 14,414,827
Total loans and leases receivable, net of allowance for credit losses on loans and leases, Estimated Fair Value13,571,137 14,207,811
FHLB, Federal Reserve Bank and other restricted stock, Carrying Amount54,553 64,584
FHLB, Federal Reserve Bank and other restricted stock, Estimated Fair Value64,584
Derivative assets21,954 27,295
Deposits held16,415,560 16,777,924
Deposits, Estimated Fair Value16,343,932 16,777,236
Federal funds purchased, Carrying Amount700,000 75,000
Federal funds purchased, Estimated Fair Value700,000 75,000
FHLB advances, Carrying Amount0 700,000
FHLB advances, Estimated Fair Value700,000
Other borrowings, Carrying Amount223,230 223,086
Other borrowings, Estimated Fair Value219,130 226,585
Subordinated debt, Carrying Amount181,742 181,673
Subordinated debt, Estimated Fair Value196,482 204,782
Derivative liabilities18,370 26,544
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, Estimated Fair Value274,600 518,032
Debt securities, available for sale0 0
Loans held for sale0 0
Total loans and leases receivable, net of allowance for credit losses on loans and leases, Estimated Fair Value0 0
FHLB, Federal Reserve Bank and other restricted stock, Estimated Fair Value0 0
Derivative assets0 0
Deposits, Estimated Fair Value15,969,368 16,270,586
Federal funds purchased, Estimated Fair Value700,000 75,000
FHLB advances, Estimated Fair Value0
Other borrowings, Estimated Fair Value0 0
Subordinated debt, Estimated Fair Value0 0
Derivative liabilities0 0
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, Estimated Fair Value0 0
Debt securities, available for sale4,022,176 3,648,690
Loans held for sale2,496 15,747
Total loans and leases receivable, net of allowance for credit losses on loans and leases, Estimated Fair Value1,755,758 2,284,325
FHLB, Federal Reserve Bank and other restricted stock, Estimated Fair Value46,040 64,584
Derivative assets21,805 27,116
Deposits, Estimated Fair Value374,564 506,650
Federal funds purchased, Estimated Fair Value0 0
FHLB advances, Estimated Fair Value700,000
Other borrowings, Estimated Fair Value219,130 226,585
Subordinated debt, Estimated Fair Value196,482 204,782
Derivative liabilities18,370 26,544
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, Estimated Fair Value0 0
Debt securities, available for sale121,853 142,885
Loans held for sale507 507
Total loans and leases receivable, net of allowance for credit losses on loans and leases, Estimated Fair Value11,815,379 11,923,486
FHLB, Federal Reserve Bank and other restricted stock, Estimated Fair Value0 0
Derivative assets149 179
Deposits, Estimated Fair Value0 0
Federal funds purchased, Estimated Fair Value0 0
FHLB advances, Estimated Fair Value0
Other borrowings, Estimated Fair Value0 0
Subordinated debt, Estimated Fair Value0 0
Derivative liabilities $ 0 $ 0

Disclosures About Fair Value _5

Disclosures About Fair Value of Financial Instruments - Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Fair Value, Measurements, Recurring
Assets
Assets, fair value $ 5,924,237 $ 6,118,942
Fair Value, Measurements, Nonrecurring
Assets
Assets, fair value2,485 5,121
Asset-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value343,619 297,425
Agency-guaranteed residential mortgage-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value8,269 9,553
Agency-guaranteed commercial mortgage-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value2,045 2,152
Agency-guaranteed residential collateralized mortgage obligations | Fair Value, Measurements, Recurring
Assets
Fair Value603,403 196,930
Agency-guaranteed commercial collateralized mortgage obligations | Fair Value, Measurements, Recurring
Assets
Fair Value162,599 238,844
Collateralized loan obligations | Fair Value, Measurements, Recurring
Assets
Fair Value1,004,362 1,066,802
Commercial mortgage-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value147,625 148,927
Corporate notes | Fair Value, Measurements, Recurring
Assets
Fair Value593,750 580,046
Private label collateralized mortgage obligations | Fair Value, Measurements, Recurring
Assets
Fair Value1,270,407 1,242,465
State and political subdivision debt securities | Fair Value, Measurements, Recurring
Assets
Fair Value7,950 8,431
Derivatives | Fair Value, Measurements, Recurring
Assets
Assets, fair value21,954 27,295
Loans held for sale – fair value option | Fair Value, Measurements, Recurring
Assets
Assets, fair value2,496 15,747
Loans receivable, mortgage warehouse – fair value option | Fair Value, Measurements, Recurring
Assets
Assets, fair value1,755,758 2,284,325
Derivatives  | Fair Value, Measurements, Recurring
Liabilities
Financial liabilities, fair value18,370 26,544
Collateral-dependent loans | Fair Value, Measurements, Nonrecurring
Assets
Assets, fair value2,485 5,121
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Measurements, Recurring
Assets
Assets, fair value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Measurements, Nonrecurring
Assets
Assets, fair value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Asset-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Agency-guaranteed residential mortgage-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Agency-guaranteed commercial mortgage-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Agency-guaranteed residential collateralized mortgage obligations | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Agency-guaranteed commercial collateralized mortgage obligations | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateralized loan obligations | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial mortgage-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate notes | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Private label collateralized mortgage obligations | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | State and political subdivision debt securities | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Derivatives | Fair Value, Measurements, Recurring
Assets
Assets, fair value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Loans held for sale – fair value option | Fair Value, Measurements, Recurring
Assets
Assets, fair value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Loans receivable, mortgage warehouse – fair value option | Fair Value, Measurements, Recurring
Assets
Assets, fair value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Derivatives  | Fair Value, Measurements, Recurring
Liabilities
Financial liabilities, fair value0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateral-dependent loans | Fair Value, Measurements, Nonrecurring
Assets
Assets, fair value0 0
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring
Assets
Assets, fair value5,802,235 5,975,878
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Nonrecurring
Assets
Assets, fair value0 0
Significant Other Observable Inputs (Level 2) | Asset-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value221,766 154,540
Significant Other Observable Inputs (Level 2) | Agency-guaranteed residential mortgage-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value8,269 9,553
Significant Other Observable Inputs (Level 2) | Agency-guaranteed commercial mortgage-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value2,045 2,152
Significant Other Observable Inputs (Level 2) | Agency-guaranteed residential collateralized mortgage obligations | Fair Value, Measurements, Recurring
Assets
Fair Value603,403 196,930
Significant Other Observable Inputs (Level 2) | Agency-guaranteed commercial collateralized mortgage obligations | Fair Value, Measurements, Recurring
Assets
Fair Value162,599 238,844
Significant Other Observable Inputs (Level 2) | Collateralized loan obligations | Fair Value, Measurements, Recurring
Assets
Fair Value1,004,362 1,066,802
Significant Other Observable Inputs (Level 2) | Commercial mortgage-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value147,625 148,927
Significant Other Observable Inputs (Level 2) | Corporate notes | Fair Value, Measurements, Recurring
Assets
Fair Value593,750 580,046
Significant Other Observable Inputs (Level 2) | Private label collateralized mortgage obligations | Fair Value, Measurements, Recurring
Assets
Fair Value1,270,407 1,242,465
Significant Other Observable Inputs (Level 2) | State and political subdivision debt securities | Fair Value, Measurements, Recurring
Assets
Fair Value7,950 8,431
Significant Other Observable Inputs (Level 2) | Derivatives | Fair Value, Measurements, Recurring
Assets
Assets, fair value21,805 27,116
Significant Other Observable Inputs (Level 2) | Loans held for sale – fair value option | Fair Value, Measurements, Recurring
Assets
Assets, fair value2,496 15,747
Significant Other Observable Inputs (Level 2) | Loans receivable, mortgage warehouse – fair value option | Fair Value, Measurements, Recurring
Assets
Assets, fair value1,755,758 2,284,325
Significant Other Observable Inputs (Level 2) | Derivatives  | Fair Value, Measurements, Recurring
Liabilities
Financial liabilities, fair value18,370 26,544
Significant Other Observable Inputs (Level 2) | Collateral-dependent loans | Fair Value, Measurements, Nonrecurring
Assets
Assets, fair value0 0
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring
Assets
Assets, fair value122,002 143,064
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Nonrecurring
Assets
Assets, fair value2,485 5,121
Significant Unobservable Inputs (Level 3) | Asset-backed securities
Assets
Fair Value121,853 142,885
Significant Unobservable Inputs (Level 3) | Asset-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value121,853 142,885
Significant Unobservable Inputs (Level 3) | Agency-guaranteed residential mortgage-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Significant Unobservable Inputs (Level 3) | Agency-guaranteed commercial mortgage-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Significant Unobservable Inputs (Level 3) | Agency-guaranteed residential collateralized mortgage obligations | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Significant Unobservable Inputs (Level 3) | Agency-guaranteed commercial collateralized mortgage obligations | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Significant Unobservable Inputs (Level 3) | Collateralized loan obligations | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Significant Unobservable Inputs (Level 3) | Commercial mortgage-backed securities | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Significant Unobservable Inputs (Level 3) | Corporate notes | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Significant Unobservable Inputs (Level 3) | Private label collateralized mortgage obligations | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Significant Unobservable Inputs (Level 3) | State and political subdivision debt securities | Fair Value, Measurements, Recurring
Assets
Fair Value0 0
Significant Unobservable Inputs (Level 3) | Derivatives | Fair Value, Measurements, Recurring
Assets
Assets, fair value149 179
Significant Unobservable Inputs (Level 3) | Loans held for sale – fair value option | Fair Value, Measurements, Recurring
Assets
Assets, fair value0 0
Significant Unobservable Inputs (Level 3) | Loans receivable, mortgage warehouse – fair value option | Fair Value, Measurements, Recurring
Assets
Assets, fair value0 0
Significant Unobservable Inputs (Level 3) | Derivatives  | Fair Value, Measurements, Recurring
Liabilities
Financial liabilities, fair value0 0
Significant Unobservable Inputs (Level 3) | Collateral-dependent loans | Fair Value, Measurements, Nonrecurring
Assets
Assets, fair value $ 2,485 $ 5,121

Disclosures About Fair Value _6

Disclosures About Fair Value of Financial Instruments - Statement of Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis (Detail) - Significant Unobservable Inputs (Level 3) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Residential Mortgage Loan Commitments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period $ 179 $ 200
Issuances149 196
Settlements(179)(200)
Balance at end of period149 $ 196
Asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period142,885
Principal payments(16,349)
Credit losses(728)
Change in fair value recognized in OCI(3,955)
Balance at end of period $ 121,853

Disclosures About Fair Value _7

Disclosures About Fair Value of Financial Instruments - Summary of Financial Assets and Financial Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis (Detail) - Significant Unobservable Inputs (Level 3) $ in ThousandsMar. 31, 2022USD ($)Dec. 31, 2021USD ($)
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available for sale $ 121,853 $ 142,885
Residential mortgage loan commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Residential mortgage loan commitments $ 149 $ 179
Minimum | Asset-backed securities | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input0.040.04
Minimum | Asset-backed securities | Annualized loss rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input0.070.04
Minimum | Asset-backed securities | Constant prepayment rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input0.160.17
Minimum | Residential mortgage loan commitments | Pull-through rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Residential mortgage loans, measurement input0.690.76
Maximum | Asset-backed securities | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input0.060.05
Maximum | Asset-backed securities | Annualized loss rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input0.080.04
Maximum | Asset-backed securities | Constant prepayment rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input0.300.33
Maximum | Residential mortgage loan commitments | Pull-through rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Residential mortgage loans, measurement input0.880.89
Weighted Average | Asset-backed securities | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input0.040.05
Weighted Average | Asset-backed securities | Annualized loss rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input0.080.04
Weighted Average | Asset-backed securities | Constant prepayment rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input0.190.19
Weighted Average | Residential mortgage loan commitments | Pull-through rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Residential mortgage loans, measurement input0.820.85
Real Estate | Collateral-dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans $ 1,809 $ 4,170
Real Estate | Minimum | Collateral-dependent loans | Liquidation expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans, measurement input0.050.08
Real Estate | Maximum | Collateral-dependent loans | Liquidation expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans, measurement input0.050.08
Real Estate | Weighted Average | Collateral-dependent loans | Liquidation expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans, measurement input0.050.08
Commercial and industrial | Collateral-dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans $ 676 $ 951
Commercial and industrial | Minimum | Collateral-dependent loans | Liquidation expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans, measurement input0.080.08
Commercial and industrial | Minimum | Collateral-dependent loans | Business asset valuation adjustments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans, measurement input0.250.20
Commercial and industrial | Maximum | Collateral-dependent loans | Liquidation expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans, measurement input0.260.26
Commercial and industrial | Maximum | Collateral-dependent loans | Business asset valuation adjustments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans, measurement input0.270.20
Commercial and industrial | Weighted Average | Collateral-dependent loans | Liquidation expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans, measurement input0.130.12
Commercial and industrial | Weighted Average | Collateral-dependent loans | Business asset valuation adjustments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans, measurement input0.260.20

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Additional Information (Detail) $ in Thousands3 Months Ended
Mar. 31, 2022USD ($)derivativeMar. 31, 2021USD ($)derivativeDec. 31, 2021USD ($)derivative
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, net liability position, aggregate fair value $ 9,600
Minimum
Derivative Instruments, Gain (Loss) [Line Items]
Derivative expiration period30 days
Maximum
Derivative Instruments, Gain (Loss) [Line Items]
Derivative expiration period60 days
Not Designated as Hedging Instrument | Residential mortgage loan commitments
Derivative Instruments, Gain (Loss) [Line Items]
Aggregate notional amount $ 6,400 $ 8,200
Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Cash collateral pledged $ (4,115) $ (23,348)
Interest Rate Contract | Derivative Designated as Hedging Instrument | Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Number of interest rate derivatives terminated | derivative4
Aggregate notional amount, terminated $ 850,000
Reclassification of realized losses from AOCI, discontinuation of cash flow hedge $ 25,900
Number of outstanding interest rate derivatives | derivative0 0
Interest Rate Contract | Derivative Designated as Hedging Instrument | Fair Value Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Number of interest rate derivatives terminated | derivative2 7
Aggregate notional amount, terminated $ 16,500 $ 186,800
Number of outstanding interest rate derivatives | derivative14 16
Aggregate notional amount $ 64,000 $ 80,500
Interest rate swaps | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Aggregate notional amount $ 1,400,000 $ 1,400,000
Number of derivative instruments held | derivative153 153
Interest rate caps | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Aggregate notional amount $ 263,200 $ 264,700
Number of derivative instruments held | derivative14,000 14,000
Credit contracts | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Aggregate notional amount $ 129,100 $ 129,900

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Cumulative Basis Adjustment for Fair Value Hedges (Detail) - Available-for-sale Securities - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amortized Cost $ 64,000 $ 80,500
Cumulative Amount of Fair Value Hedging Adjustment to Hedged Items $ 3,653 $ 1,750

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Other Assets | Derivative Designated as Hedging Instrument | Fair Value Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Assets $ 3,653 $ 1,750
Other Assets | Derivative Designated as Hedging Instrument | Interest rate swaps | Fair Value Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Assets3,653 1,750
Other Assets | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Assets18,301 25,545
Other Assets | Not Designated as Hedging Instrument | Residential mortgage loan commitments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Assets149 179
Other Assets | Not Designated as Hedging Instrument | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Assets16,007 24,747
Other Assets | Not Designated as Hedging Instrument | Interest rate caps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Assets2,090 488
Other Assets | Not Designated as Hedging Instrument | Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Assets55 131
Other Liabilities | Derivative Designated as Hedging Instrument | Fair Value Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Liabilities0 0
Other Liabilities | Derivative Designated as Hedging Instrument | Interest rate swaps | Fair Value Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Liabilities0 0
Other Liabilities | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Liabilities18,370 26,544
Other Liabilities | Not Designated as Hedging Instrument | Residential mortgage loan commitments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Liabilities0 0
Other Liabilities | Not Designated as Hedging Instrument | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Liabilities16,158 25,855
Other Liabilities | Not Designated as Hedging Instrument | Interest rate caps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Liabilities2,090 488
Other Liabilities | Not Designated as Hedging Instrument | Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Liabilities $ 122 $ 201

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Effect of Derivative Financial Instruments on Net Income and Comprehensive Income (Detail) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2022Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income $ 0 $ (25,926)
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivatives
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income0 (25,926)
Other non-interest income | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivatives
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income0 (24,467)
Interest expense | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivatives0 9,113
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income0 (1,459)
Derivative Designated as Hedging Instrument | Fair Value Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Income (Loss) Recognized in Earnings0 0
Derivative Designated as Hedging Instrument | Net interest income | Interest rate swaps | Fair Value Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Income (Loss) Recognized in Earnings2,521 4,907
Derivative Designated as Hedging Instrument | Net interest income | Available-for-sale Securities | Fair Value Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Income (Loss) Recognized in Earnings(2,521)(4,907)
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Income (Loss) Recognized in Earnings933 2,532
Not Designated as Hedging Instrument | Other non-interest income | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Income (Loss) Recognized in Earnings961 2,399
Not Designated as Hedging Instrument | Other non-interest income | Interest rate caps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Income (Loss) Recognized in Earnings0 0
Not Designated as Hedging Instrument | Other non-interest income | Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Income (Loss) Recognized in Earnings3 137
Not Designated as Hedging Instrument | Mortgage banking income | Residential mortgage loan commitments
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Income (Loss) Recognized in Earnings $ (31) $ (4)

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities - Summary of Offsetting of Financial Assets and Derivative Assets (Detail) - Interest Rate Contract - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Offsetting Assets [Line Items]
Gross Amounts Recognized on the Consolidated Balance Sheets $ 6,546 $ 0
Gross amounts not offset in the consolidated balance sheet, Financial instruments0 0
Gross amounts not offset in the consolidated balance sheet, Cash collateral received0 0
Gross amounts not offset in the consolidated balance sheet, Net amount $ 6,546 $ 0

Derivative Instruments and He_8

Derivative Instruments and Hedging Activities - Summary of Offsetting of Financial Liabilities and Derivative Liabilities (Detail) - Interest Rate Contract - USD ($) $ in ThousandsMar. 31, 2022Dec. 31, 2021
Offsetting Liabilities [Line Items]
Gross Amounts Recognized on the Consolidated Balance Sheets $ 4,115 $ 23,348
Gross amounts not offset in the consolidated balance sheet, Financial instruments0 0
Gross amounts not offset in the consolidated balance sheet, Cash collateral pledged(4,115)(23,348)
Gross amounts not offset in the consolidated balance sheet, Net amount $ 0 $ 0

Loss Contingencies - Narrative

Loss Contingencies - Narrative (Details) $ in MillionsOct. 28, 2020USD ($)
Specialty's Cafe Bakery, Inc. Matter
Loss Contingencies [Line Items]
Loss contingency, damages sought, value $ 8.1