Customers Bancorp, Inc. Declares Quarterly Cash Dividend on Its Series E, and Series F Preferred Stock

Rhea-AI Summary

Customers Bancorp, Inc. (NYSE: CUBI) has declared a quarterly cash dividend of $0.445233 per share on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E, payable on September 15, 2022. Shareholders of record by August 31, 2022 will be eligible. Additionally, a quarterly cash dividend of $0.421083 per share has been announced for Series F, also payable on September 15, 2022. Customers Bancorp operates Customers Bank, a super-community bank with assets around $20.3 billion.

Positive

• Series E dividend of $0.445233 per share enhances shareholder income.
• Series F dividend of $0.421083 per share strengthens investor confidence.
• Company's robust assets of approximately $20.3 billion indicate financial stability.

Negative

• None.

WEST READING, Pa.--(BUSINESS WIRE)-- Customers Bancorp, Inc. (NYSE: CUBI) announced that the Board of Directors has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE: CUBIPrE) of $0.445233 per share. The dividend is payable on September 15, 2022, to shareholders of record on August 31, 2022.

The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE: CUBIPrF) of $0.421083 per share. The dividend is payable on September 15, 2022, to shareholders of record on August 31, 2022.

Institutional Background

Customers Bancorp, Inc. (NYSE:CUBI) is a bank holding company which provides financial services through its subsidiary Customers Bank, a full-service super-community bank with assets of approximately $20.3 billion at June 30, 2022. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking and lending services to small and medium-sized businesses, professionals, individuals, and families. Services and products are available wherever permitted by law through digital-first apps, online portals, and a network of offices and branches. Customers Bank provides blockchain-based digital payments via the Customers Bank Instant Token^TM (CBIT^TM) which allows clients to make real-time payments in US dollars, 24 hours a day, 7 days a week, 365 days a year. More at www.customersbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220729005090/en/

David Patti, Communications Director 610-451-9452

Source: Customers Bancorp, Inc.

FAQ

What are the dividend amounts declared by Customers Bancorp for Series E and F?

Customers Bancorp declared a dividend of $0.445233 for Series E and $0.421083 for Series F.

When will the dividends for Customers Bancorp be paid?

The dividends will be paid on September 15, 2022.

Who are the shareholders of record for the dividends from Customers Bancorp?

Shareholders of record on August 31, 2022, are eligible for the dividends.

What is the asset value of Customers Bank?

Customers Bank has assets of approximately $20.3 billion as of June 30, 2022.