Customers Bancorp in Wyomissing, Pa., has increased its earnings estimates for 2014 and 2015 based on changes in its technology strategy.
The $6.5 billion-asset company said in a press release Tuesday that it expects to earn $1.53 a share in 2014, including fourth-quarter earnings of 45 cents a share. Customers previously disclosed that it would earn $1.49 to $1.53 a share this year.
Customers also increased its 2015 profit projections by 20 cents, saying it expects to earn $1.95 to $2 a share.
"Our increased estimate of future earnings reflects our success in executing our single point of contact supported by high tech strategy," Jay Sidhu, Customers' chairman and chief executive, said in the release.
Customers also remains focused on achieving several "two- to three-year goals," including a 1% return on assets, a 12% return on equity and an efficiency ratio "in the 40s," Sidhu said.
The company this year created BankMobile, a digital banking platform aimed at attracting younger customers. The platform, which advertises no-fee checking accounts, is expected to launch this month, according to the company's website.