Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Stock by Class

The table below summarizes Customers’ issuances of preferred stock that remain outstanding at March 31, 2024 and December 31, 2023 and the dividends paid per share.

(amounts in thousands except share and per share data)		Shares at		Carrying value at				Initial Fixed Rate		Date at which dividend rate becomes floating and earliest redemption date	Floating rate of Three-Month SOFR (2) Plus:		Dividend Paid Per Share in 2024 (1)
Fixed-to-floating rate:	Issue Date	March 31, 2024	December 31, 2023	March 31, 2024		December 31, 2023
Series E	April 28, 2016	2,300,000	2,300,000	$	55,593	$	55,593	6.45	%	June 15, 2021	5.140	%	$	0.68
Series F	September 16, 2016	3,400,000	3,400,000	82,201		82,201		6.00	%	December 15, 2021	4.762	%	$	0.66
Totals		5,700,000	5,700,000	$	137,794	$	137,794

(1)    For the three months ended March 31, 2024.

(2)    Pursuant to the Adjustable Interest Rate (LIBOR) Act enacted by Congress on March 15, 2022, Customers substituted three-month term SOFR plus a tenor spread adjustment of 26.161 basis points for three-month LIBOR as the benchmark reference rate on Series E and F Preferred Stock, plus 5.14% and 4.762%, respectively, beginning with dividends declared on October 25, 2023.