SOURCE: Customers Bancorp, Inc.

Customers Bancorp, Inc.

April 20, 2015 16:00 ET

Customers Bancorp Return on Stock up 56% Over Last 23 Months

Company Executives and Board Members to Ring Closing Bell at NYSE on April 23rd

WYOMISSING, PA--(Marketwired - April 20, 2015) - Customers Bancorp, Inc. (NYSE: CUBI), the parent company of Customers Bank (collectively "Customers" or "Company"), will ring the New York Stock Exchange (NYSE) closing bell at 4:00 pm on Thursday, April 23, 2015.

The bell ringing marks Customers Bancorp, Inc.'s Annual Meeting, as well as its second anniversary of being listed on a national securities exchange. Over this two year period, returns for shareholders were 56%. Customers Bancorp, Inc. commenced trading 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.

Customers Bancorp, Inc., the holding company for Customers Bank, has had many significant accomplishments since it was first listed on a national securities exchange on May 30, 2013. In this time, the company's assets have nearly doubled, growing from $3.5 billion to $6.8 billion, and it reported record earnings last quarter. Customers also launched BankMobile on January 14, 2015, Americas's first totally fee free digital bank that also offers higher rates, 55,000 free ATM's, personal banker, free financial planning advice and more.

"We are very pleased with our achievements over the past two years," said Jay Sidhu, Chairman and CEO of Customers. "And we are delighted to commemorate the progress we have made and the results we have achieved, as well as our strong future as a company, by ringing the closing bell."

The Annual Meeting will be held Thursday, April 23 beginning at 9:30 a.m. at the Harvard Club of New York. Mr. Sidhu, as well as board members and key members of the executive team from both Customers Bank and BankMobile will attend the bell ringing at the NYSE.

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 $6.8 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.

The following files are available for download:

Contact Information

  • Jay Sidhu
    Chairman & CEO
    610-935-8693


    Richard Ehst
    President & COO
    610-917-3263 


    Investor Contact:
    Robert Wahlman
    CFO & EVP
    610-743-8074