Customers Bancorp Inc - CUBI STOCK NEWS

Customers Bancorp, Inc. (NYSE:CUBI) announced that its top two executives will receive their 2022 bonuses entirely in stock, not cash. This marks the fifth consecutive year that Chairman and CEO Jay Sidhu and the CFO are aligning their compensation with shareholder interests, aiming to create shareholder value. The decision comes after a meeting of the Leadership Development and Compensation Committee on April 4, 2023. Customers Bancorp, with over $20 billion in assets, is recognized as one of the top-performing banking companies in the U.S. The company is praised for its innovative banking services, including a blockchain-based payment solution. Upcoming details regarding the executive compensation will be revealed in the 2023 annual proxy statement, expected in late April 2023, ahead of the shareholder meeting on May 30, 2023.

Customers Bank, a fintech-focused super-community bank, has launched a new Loan Syndications Banking Team. This team is aimed at enhancing lending services for middle market businesses in sectors such as commercial real estate and healthcare. Kyle Silberman has been appointed as Managing Director and Head, bringing over 12 years of experience in debt and loan syndication. The team will assist clients with various financing needs, including acquisitions and growth. Customers Bank is recognized as one of the top-performing banks in the U.S., with over $20 billion in assets, and offers a suite of technology-driven banking products.

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.

Customers Bancorp reported a net income of $218.4 million in 2022, translating to $6.51 per diluted share. Core earnings reached $256.4 million or $7.63 per diluted share, a 46.2% increase over 2021. The company achieved a 1.13% return on average assets (ROAA) and a 17.40% return on average common equity (ROCE). Full-year loan growth was $1.2 billion (8.4%) and deposit growth was $1.4 billion (8.2%). However, the Q4 2022 net income fell to $25.6 million, with significant impairments from PPC-related losses. The company plans to moderate growth and improve margins in 2023.

Customers Bancorp, Inc. (NYSE: CUBI) will host a webcast on January 26, 2023, at 9:00 AM EST to report its earnings for Q4 and the full year ending December 31, 2022. The event will feature key executives including Chair & CEO Jay Sidhu and CFO Carla Leibold. An earnings press release will be issued after the market closes on January 25, 2023. Customers Bancorp has over $20 billion in assets and is ranked among the top-performing banks in the US, showcasing its position as a pioneer in digital banking solutions.

The Btech Consortium has launched a technology partnership involving U.S. community banks, Elizabeth Park Capital Management, and Strandview Capital. The initiative aims to enhance community banks' competition against larger money-center banks by pooling resources to invest in fintech startups. Member banks will access insights into fintech trends and improve their IT strategies. The partnership will focus on critical areas such as business payments, cyber security, and regulatory compliance. By collaborating, community banks can leverage technology to serve customers better and boost efficiency.

Customers Bancorp, Inc. (NYSE: CUBI) announced that the bankruptcy of FTX and its affiliates has no significant impact on its banking subsidiary, Customers Bank (OTC-PINK: USBK). The Bank does not maintain a deposit relationship with FTX or engage in lending within the digital asset sector. As of November 15, 2022, deposit balances related to its CBIT service remained stable at $1.85 billion. Customers Bank ranks among the top-performing banks in the U.S., with over $20 billion in assets, and offers a comprehensive range of banking services, including blockchain-based payment solutions.

Customers Bancorp, Inc. (NYSE: CUBI) declared a quarterly cash dividend of $0.53289158 per share for its Series E preferred stock and $0.50900408 for its Series F preferred stock. Both dividends are payable on December 15, 2022, to shareholders of record on November 30, 2022. Customers Bancorp, with assets exceeding $20 billion, is recognized as one of the top-performing banking companies in the US and is a pioneer in digital banking and Blockchain technology.

Customers Bancorp reported Q3 2022 net income of $61.4 million ($1.85 per share), with core earnings of $82.3 million ($2.48 per share), marking a significant increase from Q3 2021. Despite facing economic challenges, net interest income rose 38% year-over-year, driven by growth in low-risk specialty lending, with total loans increasing by $4.5 billion (57.3%). However, diluted earnings per share and core earnings per share saw declines of 43.1% and 26.2%, respectively. Total deposits grew 3.2% year-over-year, while the bank maintained strong asset quality with non-performing assets at 0.14%.