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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.
Customers Bancorp, Inc. (NYSE: CUBI) will host a webcast on July 28, 2022, at 9:00 AM EDT, to discuss its earnings results for Q2 and the first half of 2022. The earnings press release will be issued after market close on July 27, 2022. Key executives, including Chair & CEO Jay Sidhu, will participate in the call. Customers Bank, a subsidiary of CUBI, reported $19.2 billion in assets as of March 31, 2022. The webcast will be available for future viewing on the Customers Bank Investor Relations webpage.
Customers Bancorp, Inc. (NYSE: CUBI) released a mid-quarter financial update underscoring strong performance indicators. Management anticipates Core EPS between
Customers Bancorp, Inc. (NYSE:CUBI) held its annual virtual meeting on May 31, where shareholders elected three directors, approved Deloitte & Touche LLP as the independent auditor, and supported an executive compensation proposal. Key achievements highlighted by CEO Jay Sidhu include facilitating over $10 billion in Paycheck Protection Program loans, launching a blockchain B2B payments system, and completing a spin-off of BankMobile. Additionally, the stock incentive plan was amended to increase share availability by 330,000. Richard Ehst retired as CEO, succeeded by Sam Sidhu.
Customers Bancorp, Inc. (NYSE: CUBI) has declared a quarterly cash dividend for its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock. Shareholders will receive
Customers Bancorp, Inc. (CUBI) reported impressive Q1 2022 results, with net income reaching $74.9 million or $2.18 per diluted share, a 126% increase from Q1 2021. Loan growth was robust at $1.1 billion, up 12% from Q4 2021 and 33% year-over-year, while total deposits increased by $3.9 billion or 32% year-over-year. The bank's efficiency ratio improved to 39.42%. Core earnings were $75.2 million, up 7% year-over-year. The bank is well-positioned for future growth with high expectations for core earnings in 2022 and 2023.
Deserve has launched a revolutionary Commercial Credit Card Platform for banks and B2B companies, enabling them to issue digital corporate credit and charge cards. The platform addresses the anticipated growth of over $700 billion in small business credit card transactions by 2023. With features like instant issuance, expense management tools, and customizable rewards, it aims to enhance customer experience and create revenue opportunities for financial institutions, including Customers Bank, its inaugural partner.
Customers Bancorp, Inc. (NYSE: CUBI) will host a webcast on April 28, 2022, at 9:00 AM EDT to report its earnings for Q1 2022, covering the period ending March 31, 2022. The webcast will feature insights from Chair & CEO Jay Sidhu, President Sam Sidhu, CFO Carla Leibold, and Chief Credit Officer Andrew Bowman. The earnings press release will be issued after market close on April 27, 2022. Customers Bancorp, based in West Reading, Pennsylvania, operates Customers Bank, which has assets totaling $19.6 billion as of December 31, 2021.
Customers Bank, with nearly
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