As previously, Sandler O'Neill analyst Frank Schiraldi downgraded Customers Bancorp to Hold from Buy as he said he cannot support the bank's strategy of focusing on near-term earnings while reserving and capital levels continue to come in below expectations. Given the signals he has seen on credit this quarter across the whole industry, he thinks the bank should have more of a focus on preserving capital and returning excess to shareholders through accretive share repurchases, Schiraldi tells investors. He cut his price target on Customers Bancorp shares to $22 from $24 to reflect the greater risk he sees to the balance sheet, coupled with lower bank valuations.