Regional Banks Q3: Eastern Bank Stumbles, Customers Bancorp Soars

Regional banks wrapped up their third-quarter earnings season, with mixed results. Overall, revenues missed estimates by a narrow margin, but stock prices held steady. Eastern Bank, despite a 19% year-over-year revenue increase, missed expectations and saw its stock rise. Customers Bancorp, on the other hand, had a stellar quarter with a 39% revenue surge, beating estimates and boosting its stock by over 5%. The Bancorp, however, underperformed, with a 39% revenue growth still missing expectations, leading to an 18.7% stock drop. Origin Bancorp and Peoples Bancorp also delivered strong results, reflecting the sectors diverse performance.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.