SOURCE: Customers Bancorp, Inc.

Customers Bancorp, Inc.

May 17, 2016 12:58 ET

Customers Bancorp, Inc. to Hold Analyst Day In New York on June 23, 2016

Company Intends to Discuss in Some Details Its Plan for BankMobile

WYOMISSING, PA--(Marketwired - May 17, 2016) - Customers Bancorp, Inc. (NYSE: CUBI) today announced that it will host an analyst day at The Harvard Club, 35 W. 44th Street, New York, NY on Thursday, June 23, 2016 from 9:00 am to 12:00 noon. The main theme for this meeting will be to share with investors its plans for BankMobile Technologies, a division of Customers Bank. BankMobile was launched by Customers in January 2015 at one of America's First Digital Bank for consumers that offers fee free banking to consumers across America using smartphones, tablets, laptops or desktops. At December 31, 2015, BankMobile reported over 100,000 checking customers. At mid-year, following closing on its acquisition of student checking business and college disbursement business from Higher One, BankMobile through is relationships with about 800 college campuses across the United States, hopes to serve about 2 million customers, and acquire about 500,000 new customers each year, becoming the largest digital bank in the United States, as measured by number of checking account consumers. The Higher One acquisition is expected to close sometime the week of June 13, 2016.

Investors interested in attending the Analyst Day should email Robert E. Wahlman, CFO of Customers at rwahlman@customersbank.com.

About Customers Bancorp, Inc. and Customers Bank

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 $9.0 billion as of March 31, 2016. A member of the Federal Reserve System and with deposits insured by the Federal Deposit Insurance Corporation, 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 Concierge Banking® by appointment at customers' homes or offices 12 hours a day, seven days a week. BankMobile is a division of Customers Bank. Customers Bank offers a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers.

Customers Bancorp, Inc.'s voting common shares are listed on the New York Stock Exchange 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" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. 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 for the year ended December 31, 2014 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

  • Contact information

    Jay Sidhu
    Chairman & CEO
    610-935-8693

    Richard Ehst
    President & COO
    610-917-3263


    Investor Contact:

    Robert Wahlman
    CFO
    610-743-8074