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Company Overview
Customers Bancorp Inc (CUBI) is a community-based, full-service bank holding company that delivers an extensive range of financial products and services. Focused on commercial lending, consumer financing, and private banking, the company seamlessly integrates high-tech digital solutions with a personalized, high-touch concierge banking experience. Serving small and middle-market businesses, not-for-profits, and individual consumers, CUBI is recognized for its balanced approach that emphasizes both efficiency and service excellence.
Integrated Business Model
The company operates across multiple business segments that include commercial lending, consumer lending, private banking, deposit products, and other funding sources. Its primary revenue stems from its well-established commercial lending activities while maintaining a diversified product portfolio that addresses the varied needs of its customers. This multi-faceted business model allows Customers Bancorp Inc to cater to an array of financial requirements, from standard deposit services to sophisticated private banking solutions.
High-Tech Banking and Personalized Service
Embracing innovation, Customers Bancorp Inc offers state-of-the-art mobile and online banking tools designed to provide convenient, secure, and efficient financial management. The company’s mobile banking solutions ensure that customers have access to modern digital platforms, while its unique concierge banking service offers face-to-face interactions tailored to individual needs. With concierge banking®, clients can schedule personal appointments at their homes or offices, thereby merging technological efficiency with human-centered service.
Market Presence and Geographic Footprint
Catering to communities across several Northeastern states such as Pennsylvania, New York, New Jersey, Massachusetts, Rhode Island, and New Hampshire, the company has established a regional presence that underpins its community-focused ethos. It serves as a vital financial partner in these regions by offering specialized products such as loans to small businesses, multi-family projects, and mortgage companies. Its deep-rooted connection with local markets reinforces its reputation as a trusted bank tailored to meet community-specific needs.
Customer-Centric Financial Solutions
At its core, Customers Bancorp Inc demonstrates a commitment to providing exceptional value through superior product selection and a continuously expanding portfolio of loan solutions. Its single-point-of-contact model simplifies the banking experience by allowing customers to interact with one dedicated representative for all inquiries, leading to more streamlined and personalized services. This approach not only enhances customer satisfaction but also builds lasting relationships based on trust and reliability.
Competitive Position and Industry Differentiation
Within a competitive financial landscape, CUBI sets itself apart through a balanced combination of technological innovation and personalized banking. By leveraging advanced digital tools alongside its traditional customer service ethos, the company exhibits resilience and adaptability. Its ability to provide tailored financial solutions and maintain a strong regional presence supports a stable competitive positioning that is well-grounded in both conventional banking practices and modern financial trends.
Operational Excellence and Community Commitment
Customers Bancorp Inc emphasizes operational excellence by deploying robust risk management processes and sophisticated technological infrastructure. This ensures that the quality of financial products remains consistently high, while adherence to stringent industry standards fortifies customer trust. The company’s unwavering commitment to community service, combined with its focus on convenience and efficiency, plays a crucial role in building a strong foundation for its operations across diverse market segments.
Conclusion
In summary, Customers Bancorp Inc represents a comprehensive financial institution that has successfully merged high-tech platforms with the personal touch of concierge banking. It serves as an essential financial partner to a diverse customer base through its multi-dimensional business model, regional focus, and customer-centric approach. Whether through its expansive suite of loan products, secure digital banking facilities, or personalized service model, CUBI continues to reinforce its standing as a dependable community bank that evolves with the changing dynamics of the modern financial ecosystem.
Customers Bank, a subsidiary of Customers Bancorp (NYSE: CUBI), has achieved an impressive Net Promoter Score (NPS) of 73 in its first annual assessment, significantly surpassing the financial services industry average of 41. This score demonstrates the bank's success in delivering exceptional customer service through its high-touch, single point of contact business model.
With over $22 billion in assets, Customers Bank ranks among the 80 largest bank holding companies in the U.S. The bank has received notable recognition, including the #1 position on American Banker 2024's list of top-performing banks with $10B to $50B in assets, and ranking 72nd on Forbes Best Banks list 2024. The institution offers comprehensive commercial and consumer banking services, including C&I lending, commercial real estate lending, and specialized national corporate banking services.
Customers Bank, a subsidiary of Customers Bancorp (NYSE: CUBI) with over $22 billion in assets, has been named one of America's Best Banks by Forbes for the seventh consecutive year. The recognition is based on Forbes' 16th annual evaluation of the 200 largest publicly traded banks, measuring growth, credit quality, and profitability for the 12 months ending September 30, 2024, and stock performance through January 10, 2025.
The bank's success is attributed to its unique operating model featuring a single point of contact, focused product offering, and exceptional customer service. The evaluation criteria included metrics such as net interest margin, return on average tangible common equity, CET1 ratio, efficiency ratio, and operating revenue growth. Notably, Customers Bank ranks No. 1 on American Banker 2024's list of top-performing banks with $10B to $50B in assets and No. 72 among the 100 largest publicly traded banks.
Customers Bancorp (NYSE:CUBI) has declared quarterly cash dividends for two of its preferred stock series. The company will pay $0.61678915 per share for Series E (NYSE: CUBIPrE) and $0.59290165 per share for Series F (NYSE: CUBIPrF) preferred stocks. Both dividends will be paid on March 17, 2025, to shareholders of record as of February 28, 2025.
The company, with over $22 billion in assets, ranks among the top 80 largest bank holding companies in the U.S. Customers Bank has received notable recognition, including the #1 position on American Banker's 2024 list of top-performing banks with $10B to $50B in assets, and ranks 29th on Forbes' 2024 Best Banks list.
Customers Bancorp (NYSE:CUBI) reported Q4 2024 net income of $23.3 million ($0.71 per diluted share), with core earnings of $44.2 million ($1.36 per diluted share). The quarter included $20.0 million in post-tax losses from securities portfolio repositioning.
Key Q4 highlights include: Total loans grew $671.1 million (19% annualized), deposits increased by $777.1 million (4.3%), and non-interest bearing deposits rose by $937.5 million (20.1%). The average cost of deposits decreased 39 basis points to 3.07%, while net interest margin improved to 3.11%.
For full-year 2024, net income was $166.4 million ($5.09 per share). Total loans increased by $1.6 billion (12.3%) and deposits grew by $926.2 million (5.2%). The company maintained strong asset quality with non-performing assets at 0.25% of total assets and a CET1 ratio of 12.0%. During 2024, CUBI repurchased 393,303 shares at an average price of $48.36 for $19.2 million.
Customers Bancorp (NYSE: CUBI) has scheduled its Fourth Quarter and Full-Year 2024 earnings webcast for Friday, January 24, 2025, at 9:00 AM EST. The webcast will feature presentations from Chair and CEO Jay Sidhu, President Sam Sidhu, and CFO Philip Watkins. The earnings release will be issued after market close on January 23, 2025.
The company, with over $21 billion in assets, ranks among the top 80 largest bank holding companies in the U.S. Notable achievements include ranking No. 1 on American Banker's 2024 list of top-performing banks with $10B to $50B in assets and No. 29 on Forbes Best Banks list 2024. Customers Bank offers commercial and consumer banking services, including C&I lending, commercial real estate lending, and specialized national corporate banking services.
Customers Bank, a subsidiary of Customers Bancorp (NYSE:CUBI) with over $21 billion in assets, has been named to Inc.'s 2024 Best in Business list in the Financial Services category. The recognition highlights the bank's exceptional franchise growth over the past 18 months in deposits and market expansion, along with its unique operating model and commitment to sound risk management.
The bank's business model focuses on delivering large financial institution products with superior service through a single point of contact system. Inc.'s Best in Business Awards recognize companies across various industries that have achieved significant milestones and demonstrated exceptional execution in areas such as customer expansion, product launches, and increased market share.
Customers Bancorp (NYSE:CUBI) has declared quarterly cash dividends on two preferred stock series. The Series E preferred stock will receive $0.65395191 per share, while Series F will receive $0.63006441 per share. Both dividends are payable on December 16, 2024, to shareholders of record on November 30, 2024. The company, with nearly $21 billion in assets, ranks among the top 80 largest bank holding companies in the U.S. and has received notable recognition, including the No. 1 position on American Banker 2024's list of top-performing banks with $10B to $50B in assets.
Customers Bancorp (NYSE:CUBI) reported Q3 2024 net income of $42.9 million, or $1.31 per diluted share. Core earnings were $43.8 million, or $1.34 per diluted share. Total loans and leases grew by $520.8 million (16% annualized) from Q2 2024. The bank received $1.1 billion in commercial deposit inflows, which funded the paydown of $0.7 billion in higher-cost deposits. Net interest margin decreased to 3.06% from 3.29% in Q2. Asset quality remained strong with non-performing assets at 0.22% of total assets. The CET1 ratio was 12.5%, above the 11.5% target. Book value per share grew 4.5% to $52.96.
Customers Bancorp, Inc. (NYSE: CUBI), parent company of Customers Bank, will host a webcast on November 1, 2024, at 9:00 AM EDT to report its third quarter 2024 earnings for the period ending September 30, 2024. The webcast will feature presentations by key executives including Chair & CEO Jay Sidhu, President Sam Sidhu, and CFO Philip Watkins.
Customers Bancorp is a top-performing banking company with nearly $21 billion in assets, ranking among the 80 largest bank holding companies in the U.S. The bank offers a range of services including C&I lending, commercial real estate lending, and national corporate banking. Notable achievements include:
- No. 1 on American Banker 2024 list of top-performing banks ($10B-$50B assets)
- No. 29 on Forbes 2024 Best Banks list
- No. 52 on Investor's Business Daily 100 Best Stocks for 2023
Customers Bank, a $21 billion asset subsidiary of Customers Bancorp (NYSE:CUBI), is strengthening its executive team to drive continued deposit growth. Lyle Cunningham has been promoted to the new role of Chief Banking Officer, expanding his responsibilities to oversee both lending and deposits functions. Nick Robinson, formerly of Capital One, joins as Chief Risk Officer, partnering with Joan Cheney, who transitions to Deputy Chief Risk Officer.
These appointments aim to enhance the bank's risk management capabilities and drive strategic growth. Customers Bank, ranked No. 1 on American Banker's 2024 list of top-performing banks with $10B to $50B in assets, continues to focus on delivering exceptional customer service and innovative technological solutions while maintaining prudent risk management practices.
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