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

Rhea-AI Summary

Customers Bancorp (NYSE: CUBI) has declared a quarterly cash dividend of $0.61931250 per share on its Series E Preferred Stock and $0.59568750 on its Series F Preferred Stock. Both dividends are payable on March 15, 2023, to shareholders of record by February 28, 2023. With over $20.9 billion in assets, Customers Bancorp ranks among the largest bank holding companies in the US, providing a range of banking services supported by advanced technology. The company continues to be recognized for its strong performance in the banking sector.

Positive

• Declaration of dividends demonstrates financial stability and commitment to returning value to shareholders.
• Assets exceed $20.9 billion, positioning the company as one of the top banking institutions in the US.

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 $0.61931250 per share. The dividend is payable on March 15, 2023, to shareholders of record on February 28, 2023.

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 $0.59568750 per share. The dividend is payable on March 15, 2023, to shareholders of record on February 28, 2023.

Corporate Overview

Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation’s top-performing banking companies with over $20.9 billion in assets, making it one of the 100 largest bank holding companies in the US. Through its primary subsidiary, Customers Bank, commercial and consumer clients benefit from a full suite of technology-enabled tailored product experience delivered by best-in-class customer service. A pioneer in Banking-as-a-Service and digital banking products, Customers Bank is one of the only banks that provides a blockchain-based 24/7/365 digital payment solution to its customers. In addition to traditional lines such as C&I lending, commercial real estate lending, and multi-family lending, Customers Bank also provides a number of national corporate banking services for Fund Finance, Equipment Finance, Financial Institutions, Technology and Venture, and Healthcare clients. Major accolades include:

• #3 top-performing bank with over $10 billion in assets at year-end 2021 per S&P Global S&P Global Market Intelligence,
• #6 in top-performing banks with assets between $10 billion and 50 billion in 2021 per American Banker, and
• #21 out of the 100 largest publicly traded banks in 2022 per Forbes.

A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender. Learn more: www.customersbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230127005036/en/

David Patti, Communications Director

610-451-9452

Source: Customers Bancorp, Inc.

FAQ

What is the dividend amount for Customers Bancorp's Series E and Series F Preferred Stocks?

The dividend amount is $0.61931250 for Series E and $0.59568750 for Series F.

When is the dividend payable for Customers Bancorp's Preferred Stocks?

The dividends are payable on March 15, 2023.

What date is the record for Customers Bancorp's Preferred Stock dividends?

Shareholders of record as of February 28, 2023, will receive the dividends.

How does Customers Bancorp rank among US banking companies?

Customers Bancorp is among the top 100 largest bank holding companies in the US, with over $20.9 billion in assets.