Customers Bancorp Benefitted From the Banking Crisis. Can It Sustain the Momentum?
Between the banking crisis in March and the high-interest-rate environment, many banks are seeing low-cost deposits head for the exits, and are having to replace them with higher-cost deposits and funding sources. On a period-end basis, Customers increased NIB deposits by roughly $1.6 billion, which is an anomaly in the industry right now.