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CUSTOMERS BANCORP INC - CUBI STOCK NEWS

Welcome to our dedicated page for CUSTOMERS BANCORP news (Ticker: CUBI), a resource for investors and traders seeking the latest updates and insights on CUSTOMERS BANCORP stock.

Customers Bancorp Inc. (CUBI) is a bank holding company engaged in a wide range of banking activities. It is dedicated to delivering exceptional value, service, and convenience through a high-tech, high-touch approach to banking. This allows the company to offer a superior selection of products and services that cater to the diverse needs of its clients. Customers Bancorp Inc. operates primarily in the areas of commercial lending, consumer lending, private banking, deposit products, and other financial services.

The company serves small and middle-market businesses, not-for-profits, and individual consumers across Pennsylvania, New York, Rhode Island, New Hampshire, Massachusetts, and New Jersey. Their services include a continually expanding portfolio of loans for small businesses, multi-family projects, and mortgage companies. Their innovative banking model integrates the latest mobile and online banking tools to ensure convenience for all customers.

Recent Achievements and Projects: Customers Bancorp Inc. has recently launched several initiatives aimed at enhancing customer experience. They have introduced Concierge Banking®, a unique service that provides face-to-face banking by appointment at customers' homes or offices, available 12 hours a day, seven days a week. This service exemplifies their commitment to a high-touch, personalized banking experience.

Financial Condition and Partnerships: The company's financial health is robust, primarily driven by its commercial lending activities. They have also formed strategic partnerships to expand their product offerings and improve service delivery. These collaborations are aimed at supporting the company's growth strategy and enhancing its market presence.

Products and Services: Customers Bancorp Inc. offers a variety of financial products and services, including commercial loans, consumer loans, private banking, and a range of deposit products. Their single-point-of-contact model ensures that customers have seamless access to banking services, with just one phone number to call for all their banking needs.

  • Commercial Lending: Focused on providing loans to small and middle-market businesses.
  • Consumer Lending: Includes personal loans and mortgages.
  • Private Banking: Tailored services for high-net-worth individuals.
  • Deposit Products: A wide range of savings and checking accounts.
  • Other Financial Services: Comprehensive financial solutions to meet various needs.

Stay tuned with the latest updates and news to understand more about Customers Bancorp Inc.'s performance, events, and developments.

News

Customers Bancorp, Inc. Subordinated Notes to Convert from Fixed to Floating Rate

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Customers Bancorp, Inc. (NYSE:CUBI) announced the conversion of subordinated notes issued in 2014 from a fixed rate to a floating rate on June 26, 2024. The Subordinated Notes will now bear interest based on the three-month term SOFR plus a tenor spread adjustment. Customers Bancorp, Inc. is a top-performing banking company with over $21 billion in assets, offering a range of banking services to commercial and consumer clients.
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Customers Bancorp, Inc. Declares Quarterly Cash Dividend on Its Series E and Series F Preferred Stock

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Customers Bancorp, Inc. (NYSE:CUBI) declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E and Series F. The dividend for Series E is $0.68163044 per share, payable on March 15, 2024, and for Series F is $0.65774294 per share, also payable on March 15, 2024. After June 30, 2023, Customers Bancorp Inc. is no longer using the three-month LIBOR as a reference rate for determining the dividend rate of the preferred stocks. The company has replaced the reference rate with the CME Term SOFR Reference Rate published for three-month tenor as administered by CME Group Benchmark Administration, Ltd. The dividend rates for Series E and Series F Preferred Stock are determined by adding a spread to the New Reference Rate. Customers Bancorp, Inc. is one of the nation’s top-performing banking companies with over $21 billion in assets and is a member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation.
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Customers Bancorp Reports Results for Fourth Quarter and Full Year 2023

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Customers Bancorp, Inc. (CUBI) reports strong financial performance in Q4 2023 and full year 2023. Q4 2023 net income available to common shareholders was $58.2 million, or $1.79 per diluted share; ROAA was 1.16% and ROCE was 15.93%. Q4 2023 core earnings were $61.6 million, or $1.90 per diluted share; Core ROAA was 1.22% and Core ROCE was 16.87%. CET 1 capital ratio of 12.2%1 at December 31, 2023, compared to 11.3% at September 30, 2023, surpassing 11.0% - 11.5% target. TCE / TA ratio of 7.0% at December 31, 2023, compared to 6.5% at September 30, 2023, achieving stated target. Q4 2023 net interest margin, tax equivalent (“NIM”) was 3.31%, compared to Q3 2023 NIM of 3.70%. Total estimated insured deposits were 77%2 of total deposits at December 31, 2023, with immediately available liquidity covering uninsured deposits by approximately 202%. Non-performing assets were $27.2 million, or 0.13% of total assets, at December 31, 2023 compared to 0.14% at September 30, 2023. Allowance for credit losses on loans and leases equaled 499% of non-performing loans at December 31, 2023, compared to 466% at September 30, 2023.
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Customers Bancorp, Inc. to host Fourth Quarter and Full-Year 2023 Earnings Webcast on Friday, January 26, 2024

Rhea-AI Summary
Customers Bancorp, Inc. (NYSE: CUBI) will host a webcast on January 26, 2024, to report its earnings for the three months ending December 31, 2023, and full-year 2023. The company is one of the top-performing banking companies with over $22 billion in assets and provides a full suite of technology-enabled tailored product experiences. Customers Bank is a pioneer in Banking-as-a-Service, digital banking products, and blockchain-based digital payment solutions. The company has received major accolades and is a member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation.
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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 on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE: CUBIPrE) of $0.68319767 per share and on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE: CUBIPrF) of $0.65931017 per share. The dividend is payable on December 15, 2023, to shareholders of record on November 30, 2023.
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Customers Bancorp Reports Results for Third Quarter 2023

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Customers Bancorp reports strong Q3 2023 results with net income of $83.0 million and core earnings of $83.3 million. Q3 2023 net interest margin increases to 3.70%. Total deposits grow by $244.9 million. Non-interest bearing deposits increase by $268.5 million. Q3 2023 provision for credit losses decreases to $17.1 million. Book value per share and tangible book value per share both grow by $3.31.
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Customers Bancorp, Inc. to Host Third Quarter 2023 Earnings Webcast on Friday, October 27, 2023

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Customers Bancorp, Inc. to report Q3 2023 earnings results
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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 on its Preferred Stock, Series E and F. The dividend for Series E is $0.6831 per share, payable on September 15, 2023, to shareholders of record on August 31, 2023. The dividend for Series F is $0.65895 per share, payable on September 15, 2023, to shareholders of record on August 31, 2023. Customers Bancorp will no longer use three-month LIBOR as a reference rate for determining the dividend rate of the Preferred Stock. The new reference rate will be based on the CME Term SOFR Reference Rate plus a spread. The calculation agent will determine the dividend rate based on the spread and the new reference rate.
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Customers Bancorp Reports Results for Second Quarter 2023

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Customers Bancorp, Inc. (CUBI) reported strong financial results for Q2 2023. Net income available to common shareholders was $44.0 million, or $1.39 per diluted share. The company achieved a CET 1 capital ratio of 10.3% at June 30, 2023. Q2 2023 net interest margin increased to 3.15%, and total deposits grew by $226.8 million. Non-performing assets decreased by 12% compared to the previous quarter. Book value per share and tangible book value per share both grew by $1.08, or 2.6%.
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Customers Bancorp, Inc. to Host Second Quarter 2023 Earnings Webcast on Friday, July 28, 2023

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FAQ

What is the current stock price of CUSTOMERS BANCORP (CUBI)?

The current stock price of CUSTOMERS BANCORP (CUBI) is $47.71 as of December 20, 2024.

What is the market cap of CUSTOMERS BANCORP (CUBI)?

The market cap of CUSTOMERS BANCORP (CUBI) is approximately 1.5B.

What does Customers Bancorp Inc. do?

Customers Bancorp Inc. is a bank holding company that provides a range of financial products and services, including commercial lending, consumer lending, private banking, and deposit products.

Who are the clients of Customers Bancorp Inc.?

The company serves small and middle-market businesses, not-for-profits, and individual consumers across multiple states including Pennsylvania, New York, and New Jersey.

What is Concierge Banking®?

Concierge Banking® is a service by Customers Bancorp Inc. that offers face-to-face banking by appointment at customers' homes or offices, available 12 hours a day, seven days a week.

How does Customers Bancorp Inc. ensure convenience for its customers?

The company utilizes a high-tech approach, providing the latest mobile and online banking tools. Additionally, their single-point-of-contact model offers seamless customer service.

What recent achievements has Customers Bancorp Inc. accomplished?

Recent achievements include the launch of Concierge Banking® and strategic partnerships to enhance product offerings and service delivery.

What type of loans does Customers Bancorp Inc. offer?

They offer commercial loans, consumer loans, including personal loans and mortgages, and loans for small businesses and multi-family projects.

What are the core areas of operation for Customers Bancorp Inc.?

The core areas include commercial lending, consumer lending, private banking, deposit products, and other financial services.

In which states does Customers Bancorp Inc. operate?

They operate in Pennsylvania, New York, Rhode Island, New Hampshire, Massachusetts, and New Jersey.

What makes Customers Bancorp Inc.'s banking model unique?

Their high-tech, high-touch approach and services like Concierge Banking® and a single-point-of-contact model make their banking model unique.

How does Customers Bancorp Inc. support small businesses?

The company supports small businesses by offering tailored loan products and dedicated commercial lending services.

Stock CUBI logo
CUSTOMERS BANCORP INC

NYSE:CUBI

CUBI Rankings

#2199 Ranked by Market Cap
N/A Ranked by Dividends

CUBI Stock Data

1.50B
29.05M
7.28%
93.66%
6.52%
Banks - Regional
State Commercial Banks
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United States of America
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