SOURCE: Customers Bancorp, Inc.

Customers Bancorp, Inc.

January 06, 2015 19:59 ET

Customers Bancorp Hosting Analyst Day and Ringing Closing Bell at NYSE

WYOMISSING, PA--(Marketwired - January 06, 2015) - Customers Bancorp, Inc. (NYSE: CUBI), the parent company of Customers Bank (collectively "Customers" or "Company"), announced it will be hosting an Analyst Day at 1:30 pm, and ringing the NYSE Closing Bell at 4 pm, on Wednesday, January 7, 2015 to commemorate its new listing on the New York Stock Exchange ("NYSE"). Trading commenced on the NYSE on December 30, 2014 under the ticker symbols "CUBI," for the Voting Common Stock, and "CUBS," for the 6.375% Senior Notes Due 2018. 

"We are delighted to commemerate listing Customers' shares on the NYSE by meeting with the analyst community to discuss our very strong business performance and ringing the Closing Bell," said Jay Sidhu, Chairman and CEO of Customers. "We are pleased to be part of a promiment community of companies that benefit from trading on the NYSE platform. As we ring the bell, we are truly celebrating our listing on the NYSE and the strong future of our company."

At the Analyst Day, Mr. Sidhu will be joined by other members of Customers' top management. Some of the highlights of their presentations include:

  1. Customers is a high performing bank with a clear and unique strategy that has delivered and should continue to deliver above average returns for shareholders.
  1. YTD through September 2014 net income is up 27% over the previous year.
  1. Earnings per share in 2015 is expected to be about 30% higher than 2014.
  1. Book value has increased about 80% since this management team assumed control of the company.
  1. Since going public, the stock price has increased from $15.08 (May 16, 2013) to $19.46 (December 31, 2014), a 29% increase.
  1. Customers plans to continue executing its strategy of providing excellence in service delivered through top quality teams and grow the bank to about $9.0 billion in assets over the next three to four years.

The Analyst Day meeting will be from 1:30 to 3:30 pm at the New York Stock Exchange, and attendees will accompany management to the NYSE for the Closing Bell ringing ceremonies at 4:00 pm. The Analyst Day meeting will be available for those who have not pre-registered or are unable to attend in person via conference call and web cast:

Time: 1:30 pm to 3:30 pm

US Dial-in: 866-575-6537

International Dial-in: 913-312-0404

Conference ID: 9353808

Webcast: http://public.viavid.com/player/index.php?id=112478

The Analyst Day presentation materials will be available at noon, January 7, 2015 on the Customers website (www.Customersbank.com and select About Us, Investor Relations, News and Market Information, Presentations). A playback of the call will be available until 11:59 p.m. EST on January 21, 2015. To listen, call 1-877-870-5176 within the United States, or 1-858384-5517 when calling internationally. Please use the replay pin number 9353808.

Mr. Sidhu, in addition to additional key members of the executive team from both Customers Bank, and BankMobile, a division of Customers Bank, will be on site for the bell ringing.

Institutional Background

Customers Bancorp, Inc. is a bank holding company located in Wyomissing, Pennsylvania engaged in banking and related businesses through its bank subsidiary, Customers Bank. Customers Bank is a community-based, full-service bank with assets of approximately $6.5 billion. A member of the Federal Reserve System and deposits insured by the Federal Deposit Insurance Corporation ("FDIC"), Customers Bank provides a range of banking services to small and medium-sized businesses, professionals, individuals and families through offices in Pennsylvania, New York, Rhode Island, Massachusetts, and New Jersey. Committed to fostering customer loyalty, Customers Bank uses a High Tech/High Touch strategy that includes use of industry-leading technology to provide customers better access to their money, as well as a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers.

Customers Bancorp, Inc. is listed on the NYSE under the symbol CUBI. Additional information about Customers Bancorp, Inc. can be found on the company's website, www.customersbank.com.

"Safe Harbor" Statement

In addition to historical information, this press release may contain "forward-looking statements" which are made in good faith by Customers Bancorp, Inc., pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These forward-looking statements include statements with respect to Customers Bancorp, Inc.'s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by, or that include the words "may," "could," "should," "pro forma," "looking forward," "would," "believe," "expect," "anticipate," "estimate," "intend," "plan," or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Customers Bancorp, Inc.'s control). Numerous competitive, economic, regulatory, legal and technological factors, among others, could cause Customers Bancorp, Inc.'s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements. Customers Bancorp, Inc. cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management's current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review Customers Bancorp, Inc.'s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequently filed quarterly reports on Form 10-Q. Customers Bancorp, Inc. does not undertake to update any forward looking statement whether written or oral, that may be made from time to time by Customers Bancorp, Inc. or by or on behalf of Customers Bank.

Contact Information

  • Contacts:

    Jay Sidhu
    Chairman & CEO
    610-935-8693

    Richard Ehst
    President & COO
    610-917-3263

    Investor Contact:

    Robert Wahlman
    CFO & EVP
    610-743-8074