Liquidity management has shifted toward a more defensive posture, evidenced by a $225.5 million purchase of investment securities in 2026Q1 compared to zero-balance periods in 2024.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|
| Cash from Operations | 435.71M | 494.76M | 145.06M | 124.73M | -20.82M | 295.54M | 133.42M | 78.28M | 97.47M | 62.71M | 87.98M | 66.57M | -542.5M | 722.03M | -1.24B | 4.03M | -21.48M | -2.43M |
| Operating CF Growth % | 2876.79% | 241.08% | 16.3% | 698.94% | -107.05% | 121.51% | 70.44% | -19.69% | 55.44% | -28.72% | 32.16% | 112.27% | -175.13% | 158.13% | -30889.81% | 118.78% | -784.6% | - |
| Net Income | 280.83M | 224.09M | 181.47M | 250.14M | 228.03M | 68.3M | 132.58M | 79.33M | 71.69M | 78.84M | 78.7M | 58.58M | 43.21M | 32.69M | 23.82M | 4.03M | 23.73M | -13.23M |
| Depreciation & Amortization | 26.78M | 0 | 33.55M | 1.92M | 22.98M | 21.67M | 18.51M | 22.88M | 14.16M | 10.8M | 4.46M | 4.86M | 3.58M | 3.13M | 2.02M | 0 | 0 | 0 |
| Deferred Taxes | 3.34M | 0 | 0 | 22.18M | 6.91M | 17.75M | -17.97M | 14.52M | 9.3M | 14.82M | -2.58M | -10.09M | -6.19M | 2.21M | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 67.35M | 215.39M | 48.41M | -204.35M | -268.31M | 24.32M | 45.12M | 0 | 26.61M | 0 | 5.2M | 4.79M | -586.52M | 692.57M | -1.27B | 0 | -26.87M | 12.22M |
| Working Capital Changes | 65.22M | 55.28M | -132.81M | 42.26M | -24.59M | 149.64M | -57.71M | -90.68M | -24.73M | -48.94M | -5.46M | -3.39M | -8.01M | -9.73M | -9.59M | 0 | -18.34M | -1.42M |
| Cash from Investing | -2.18B | -2.06B | -1.01B | 3.16B | -1.3B | -1.2B | -6.43B | -1.44B | -104.1M | -565.64M | -958.51M | -1.68B | -1.92B | -1.59B | 262.13M | -4.42M | -548.85M | -23.81M |
| Purchase of Investments | -1.15B | -1.12B | -510K | -74.5M | -1.47B | -3.66B | -1.23B | -48.55M | -763.24M | -818.82M | -5M | -231.7M | -164.94M | -542.11M | -6K | 0 | -303.68M | -34.49M |
| Sale/Maturity of Investments | 1.32B | 1.31B | 1.56B | 621.29M | 1.47B | 1.02B | 624.01M | 137M | 539.15M | 808.53M | 68.6M | 86.03M | 270.44M | 159.03M | 0 | 0 | 165.09M | 25.61M |
| Net Investment Activity | 161.99M | 197.7M | 1.56B | 546.79M | 4.14M | -2.64B | -602.03M | 88.45M | -224.09M | -10.29M | 63.6M | -145.68M | 105.5M | -383.08M | -6K | 0 | -138.59M | -8.88M |
| Acquisitions | 18K | 18K | 0 | 73K | 0 | 0 | -5.82B | -137.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -2.33B | -2.24B | -1.01B | 2.65B | -1.19B | -1.15B | 1.36M | -1.39B | 176.92M | -473.7M | -999.69M | -1.68B | -2.18B | -1.2B | 264.84M | -4.42M | -406.98M | -14.51M |
| Cash from Financing | 3.12B | 2.19B | 800.62M | 108.09M | 1.26B | 727.98M | 6.77B | 1.52B | -77.56M | 384.55M | 870.25M | 1.51B | 2.6B | 913.03M | 1.09B | 9.42M | 740.25M | 88.75M |
| Dividends Paid | -7.37M | -10.8M | -15.15M | -14.64M | -9.33M | -10.83M | -14.08M | -14.46M | -14.46M | -14.46M | -9.05M | -2.31M | 0 | 0 | 0 | -44K | 0 | -4K |
| Share Repurchases | -144.97M | -148.14M | -19.24M | -39.81M | -33.16M | -110.16M | 0 | -571K | -13.86M | 0 | 0 | 0 | 0 | -7.75M | 0 | -3.56M | 0 | 0 |
| Stock Issued | 157.74M | 165.85M | 1.76M | 3.11M | 533K | 27.76M | 923K | 2.15M | 3.7M | 3.77M | 234.42M | 56.47M | 83K | 97.77M | 94.59M | 28.53M | 59.72M | 16.67M |
| Net Stock Activity | 12.77M | 17.71M | -17.48M | -36.69M | -32.63M | -82.4M | 923K | 1.58M | -10.16M | 3.77M | 234.42M | 56.47M | 83K | 90.02M | 94.59M | 24.97M | 59.72M | 16.67M |
| Debt Issuance (Net) | 3M | 1000K | -1000K | 1000K | -1000K | -1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | -1000K |
| Other Financing | 2.81B | 1.89B | 928.25M | -240.58M | 1.37B | 5.46B | 2.66B | 1.5B | 341.21M | -518.39M | 1.39B | 1.38B | 1.57B | 519.18M | 857.79M | -340.51M | 680.52M | 76.08M |
| Net Change in Cash | -3.04B | -3.79B | -60.41M | 3.39B | -62.23M | -175.32M | 480.85M | 150.37M | -84.19M | -118.39M | 116K | -106.43M | 137.96M | 47.05M | 186.02M | 5M | 0 | 0 |
| Exchange Rate Effect | -982.77M | -625.53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4.03M | 0 | 0 |
| Cash at Beginning | 0 | 3.79B | 3.85B | 455.81M | 518.03M | 693.35M | 212.5M | 62.13M | 146.32M | 264.71M | 264.59M | 371.02M | 233.07M | 186.02M | 5M | 0 | 0 | 0 |
| Cash at End | 4.8B | 0 | 3.79B | 3.85B | 455.81M | 518.03M | 693.35M | 212.5M | 62.13M | 146.32M | 264.71M | 264.59M | 371.02M | 233.07M | 186.02M | 5M | 0 | 0 |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 422.65M | 481.02M | 143.57M | 83.39M | -24.87M | 248.47M | 128.75M | 76.58M | 94.19M | -29.43M | 82.55M | 63.63M | -543.77M | 718.14M | -1.24B | 4.03M | -24.77M | -2.86M |
| FCF Growth % | 61.79% | 235.05% | 72.17% | 435.28% | -110.01% | 92.98% | 68.14% | -18.71% | 420.11% | -135.65% | 29.73% | 111.7% | -175.72% | 157.69% | -30957.06% | 116.29% | -766.51% | - |
Fintech partnership regulatory scrutiny
According to recent financial disclosures, CUBB generated $69.7 million in net income during 2026Q1, reflecting a continued reliance on organic earnings to bolster capital ratios amidst a period of heightened provisioning requirements and ongoing investments in the bank's proprietary digital payment infrastructure and compliance systems.
The bank's ability to generate consistent net income remains a primary driver for maintaining regulatory capital buffers. Investors should monitor whether the current pace of earnings retention is sufficient to offset potential credit losses in the specialty lending portfolio while simultaneously funding the bank's digital-first growth strategy.
As reported in quarterly filings, CUBB's investment activity has been characterized by significant volatility, including a $225.5 million purchase of securities in 2026Q1, which suggests a tactical approach to managing liquidity and interest rate risk within the bank's broader balance sheet management framework.
The frequent rotation between security purchases and sales indicates that the investment portfolio is being utilized as a dynamic liquidity buffer rather than a static yield-enhancement tool. This behavior warrants further investigation into the duration profile of these assets and their sensitivity to shifting interest rate environments.
Based on the provided cash flow data, CUBB's capital return profile is highly variable, highlighted by an $85.0 million share buyback in 2025Q4, which contrasts sharply with periods of zero dividend payments, suggesting that management prioritizes capital flexibility over a consistent or predictable shareholder return policy.
The lack of a stable dividend track record implies that capital allocation is heavily influenced by immediate growth opportunities and regulatory capital requirements. Investors should interpret these lumpy buyback patterns as a signal that management views share repurchases as a secondary use of capital relative to organic business expansion.
Financial statements indicate that CUBB's provision for loan losses reached $23.4 million in 2026Q1, a notable increase from the $13.5 million recorded in 2023Q4, which may indicate management's growing concern regarding the credit quality of its specialty C&I and multi-family real estate loan segments.
The upward trend in provisioning suggests a defensive posture in anticipation of potential credit deterioration. This proactive approach appears necessary given the bank's concentration in niche lending areas, and it may continue to exert downward pressure on net income in the near term.
Quick answers to the most common questions about buying CUBB stock.
Customers Bancorp, Inc 5.375% S (CUBB) generated $494.8M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Customers Bancorp, Inc 5.375% S (CUBB) generated $481.0M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Customers Bancorp, Inc 5.375% S (CUBB) spent $15.2M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Customers Bancorp, Inc 5.375% S (CUBB) returned $10.8M to shareholders via cash dividends and spent $148.1M on share repurchases. This shows the company's commitment to returning capital to its equity investors.