The ratings are supported by Customers’ financial fundamentals as indicated by improving asset quality and earnings performance, and its good efficiency ratios. The ratings also reflect the Group’s innovative business model and its experienced management team, which mitigates the short operating history associated with the Bank’s current business model. These strengths are balanced by concerns surrounding the Group’s extensive use of noncore funding and rapid growth as well as their concentrated exposure to multifamily and other residential and commercial properties.
The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology, published on
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