Customers Bancorp Inc

In addition to the other information set forth in this Quarterly Report, you should carefully consider the factors discussed in “Risk Factors” included within the 2023 Form 10-K. There are no material changes from the risk factors included within the 2023 Form 10-K, except as further discussed below. The risks described within the 2023 Form 10-K are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently believe to be immaterial also may materially adversely affect our business, financial condition and/or operating results. Refer to “Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations – Cautionary Note Regarding Forward-Looking Statements.”

Climate change and related legislative and regulatory initiatives may result in operational changes and expenditures that could significantly impact our business.

On March 6, 2024, the SEC adopted a final rule to require registrants to disclose certain climate-related information in their registration statements and annual reports. Subsequent to adoption, a number of businesses and business groups filed petitions seeking a judicial review of the final rule, asserting that the SEC does not have the authority to promulgate it. On April 4, 2024, the SEC exercised its discretion to stay the final rule pending completion of the judicial review of certain petitions consolidated in the U.S. Court of Appeals for the Eighth Circuit. The SEC’s final rule regarding the disclosure of certain climate-related information may result in the implementation of significant operational changes and new reporting obligations, each of which may require Customers to incur compliance costs. We will continue to monitor the outcome of this judicial review.