Customers Bank Recruits John Donohue to Lead Customers Commercial Finance’s New Small Ticket Business

Rhea-AI Summary

Customers Bank, with nearly $20 billion in assets, has appointed John Donohue as the Executive Vice President, Managing Director of its new Small Ticket Business within Customers Commercial Finance (CCF). Donohue, a veteran with 30 years of experience, will lead the development of this new product offering. CCF, recognized in the Monitor 100 for equipment financing, serves diverse sectors including Transportation and Food Processing. Customers Bank offers a range of services, including blockchain-based digital payments.

Positive

• Appointment of John Donohue as EVP and Managing Director, expected to enhance leadership in CCF's Small Ticket Business.
• CCF's recognition in the Monitor 100 highlights its position among leading equipment finance firms.

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• None.

WEST READING, Pa.--(BUSINESS WIRE)-- Customers Bank, a digital and FinTech-forward top 100 national bank with nearly $20 billion in assets, announced the institution hired industry veteran John Donohue to serve as Executive Vice President, Managing Director of Customers Commercial Finance’s (CCF) new Small Ticket Business.

Donohue brings more than 30 years of financial expertise in organizational development, executive management and senior leadership. His deep knowledge in FinTech, business and sales development, risk and credit management, operations, human resources and corporate development will be assets to CCF as he leads the build-out and management of the new Small Ticket business platform.

“John’s leadership track record and significant experience in the Small Ticket marketplace will be instrumental as we launch and grow our new product offering,” stated Samuel H. Smith III, Founder and President of Customers Commercial Finance.

Donohue joins CCF from Direct Capital (a division of CIT) after serving 24 years with the financial institution, most recently as managing director and group leader, and previously held senior positions in operations and credit.

CFF is the nationally recognized equipment financing and leasing subsidiary of Customers Bank. CCF delivers the best of both worlds: the responsiveness and deep-domain expertise of a specialty finance company coupled with the stability and low cost of an established and rapidly growing national bank. Based in Portsmouth, NH, CCF services a nationwide client base, focused on several industry silos including Plastics, Packaging, Transportation, Crane/Construction, Marine, Food Processing, Franchise and Aircraft among others. CCF was recently named to the Monitor 100, showcasing the leading equipment finance and leasing firms in the U.S.

To learn more about Customers Commercial Finance and the other products and services offered by Customers Bank, visit www.customersbank.com.

About Customers Bank

Customers Bank is a full-service bank with $19.6 billion in assets at December 31, 2021, and a wholly owned subsidiary of Customers Bancorp, Inc. (NYSE:CUBI). 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 mobile-first apps, online portals, and a network of offices and branches. Customers Bank provides blockchain-based digital payments via the Customers Bank Instant Token (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/20220322006078/en/

David W. Patti

Communications Director

610-451-9452

Source: Customers Bank

FAQ

What is the significance of John Donohue's appointment for Customers Bank (USBK)?

John Donohue's appointment as EVP is expected to strengthen the leadership and growth of the new Small Ticket Business at Customers Bank.

What does Customers Commercial Finance (CCF) focus on?

CCF focuses on equipment financing and leasing across various sectors, including Transportation, Plastics, and Food Processing.

What are the assets of Customers Bank?

As of the latest reports, Customers Bank has nearly $20 billion in assets.

What recognition has Customers Commercial Finance (CCF) received recently?

CCF was named in the Monitor 100, recognizing it as one of the top equipment finance and leasing firms in the U.S.

How does Customers Bank facilitate digital payments?

Customers Bank offers blockchain-based digital payments through its Customers Bank Instant Token (CBIT), enabling real-time transactions.