Target $32.

Reports Q1 core revenue $191.91M, consensus $167.86M. Tangible book value per common share was $49.18 from $47.61 at previous quarter end. CEO Jay Sidhu said, "...We are excited to announce that in April we welcomed 10 new, very experienced, banking teams to Customers Bank that are commercial focused deposit generators in the New York metropolitan area and in selected markets in California and Nevada...In the quarter, we once again demonstrated the momentum of our deposit franchise transformation by growing business unit deposits by $1.2B which funded the repayment of maturing wholesale CDs in the amount of $1.2B. This was our fourth consecutive quarter of approximately $1B of business unit deposit growth...Non-interest bearing deposits increased by $266.4M during the quarter and represented 26% of total deposits. Our net interest margin moderated in Q1 to 3.10% driven primarily by elevated cash balances resulting from strong business unit deposit growth and the timing associated with replenishing higher yielding interest-earning assets that exited in Q4 as we continue to remain focused on loan growth supporting holistic relationships. Capital levels continued to build as evidenced by a 24 basis point increase in our TCE / TA ratio* and an increase in our CET 1 ratio to 12.5%".