Top 5 Financial Stocks To Buy For 2014

Top 5 Financial Stocks To Buy For 2014: Customers Bancorp Inc (CUBI)

Customers Bancorp, Inc. (Customers Bancorp), incorporated in April 2010, through its wholly owned subsidiary Customers Bank (the Bank), provides financial products and services to small businesses, not-for-profits and consumers through its fourteen branches in Southeastern Pennsylvania (Bucks, Berks, Chester and Delaware Counties), Rye, New York (Westchester County) and Hamilton, New Jersey (Mercer County). Customers Bank also provides liquidity to the mortgage market worldwide through the operation of its mortgage warehouse business. As of December 31, 2011, Customers Bancorp had total assets of $2.08 billion, including net loans (including held for sale loans) of $1.50 billion, total deposits of $1.58 billion. The Company offers a range of banking products and financial services to its commercial and consumer customers in Suburban Philadelphia, Pennsylvania, Central New Jersey and Southeastern New York. It offers a range of lending products to cater to its customers' n eeds, including small business loans, mortgage warehouse loans, multi-family and commercial real estate loans, residential mortgage loans and consumer loans. It also offers traditional depository products, including commercial and consumer checking accounts, non-interest-bearing demand accounts, money market deposit accounts, savings accounts and time deposit accounts and cash management services. On September 17, 2011, Customers Bank became a wholly owned subsidiary of Customers Bancorp. On September 17, 2011, Customers Bancorp acquired Berkshire Bancorp, Inc. and its subsidiary Berkshire Bank. In May 2013, Customers Bancorp Inc merged with CMS Bancorp Inc.

Lending Activities

The Company focuses its lending efforts to the lending areas, such as commercial lending, which includes business, small business and multi-family and commercial real e! state lending; specialty Lending, which include warehouse lending, and consumer lending, which include local market mortgage lending and home equity lending. It also pr! ovide warehouse financing worldwide and multi-family lending in the Mid-Atlantic States.

The Bank's commercial lending is segmented into three groups, which include multi-family and commercial real estate, business banking and small business banking. The small business banking platform originates loans, including small business administration loans, through the branch network sales force and a team of dedicated small business relationship managers. During the year ended December 31, 2011, it originated and closed $121.5 million of multi-family loans commitments. As of December 31, 2011, it had $536.9 million in commercial loans outstanding, comprising approximately 35.3% of its total loan portfolio (which includes loans held for sale). During 2011, it originated and closed $167.7 million of commercial loans and commitments. As of December 31, 2011, loans in its warehouse lending portfolio, as well as loans held for sale totaled $794.3 million outstanding, comp rising approximately 52.3% of its total loan portfolio (which includes loans held for sale). During the year ended December 31, 2011, it funded $7.7 billion of mortgage loans under warehouse facilities.

The Company offers a range of deposit products to its customers, including checking accounts, savings accounts, money market accounts and other deposit accounts, including fixed-rate, fixed-maturity retail time deposits ranging in terms from 30 days to five years, individual retirement accounts, and non-retail time deposits consisting of jumbo certificates greater than or equal to $100,000. As of December 31, 2011, its deposit portfolio was consisted of 54.9% of core deposits. Its financial products include Internet banking, wire transfers, electronic bill payment, lock box services, remote deposit capture services, courier services, merchant process! ing servi! ces, cash vault, controlled disbursements, positive pay and cash management services (including account re conciliation, collections and sweep accounts).

! Sources o! f Fund

The Company offers a range of deposit accounts, including checking, savings, money market and time deposits. Deposits are obtained primarily from its service area. As of December 31, 2011, the total deposits grew to $1.58 billion.

Investment Activities

The Company's investment securities portfolio consists of United States Treasury, government agency and mortgage-backed securities (guaranteed by an agency of the United States government and non-agency guaranteed), municipal securities, domestic corporate debt, and asset-backed securities. In addition to generating revenue, it maintains the investment portfolio to manage interest rate risk, provide liquidity, provide collateral for other borrowings and diversify the credit risk of earning assets. As of December 31, 2011, $79.1 million of its investment securities were classified as available for sale (AFS). As of December 31, 2011, the fair value of its investment securities por tfolio was approximately $409.9 million. As of December 31, 2011, it held $319.5 million of investment securities that were classified as held to maturity (HTM).

Advisors' Opinion:

• [By Rich Smith]

  Wyomissing, Pa.-based Customers Bancorp (NASDAQ: CUBI  ) has a new CFO.

  On Tuesday, Customers Bancorp announced that Interim Chief Financial Officer James D. Hogan intends to retire from the bank on Aug. 13. Replacing Hogan will be Robert E. Wahlman, a new hire from Doral Financial, who will join Customers initially in the post of executive vice president on Aug. 5, and then be promoted to permanent CFO on the 13th.

source from Top Stocks Blog:http://www.topstocksblog.com/top-5-financial-stocks-to-buy-for-2014.html