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CUSTOMERS BANCORP INC - CUBI STOCK NEWS

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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.

Rhea-AI Summary

Customers Bank, a top 100 digital bank with nearly $20 billion in assets, has appointed Bernard Garrigues as its new Chief People Officer. This strategic move aims to bolster the leadership team and support the bank's national growth. Garrigues brings extensive HR leadership experience from companies like Webster Bank and GE Healthcare. He will oversee initiatives in human resources and cultural strategy, focusing on diversity and inclusion to enhance team engagement. In 2021, Customers Bank reported a 153% increase in net income compared to 2020, highlighting its rapid growth.

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Customers Bank, a top 100 digital bank with nearly $20 billion in assets, has launched a Financial Institutions Group (FIG) to serve various financial entities, including broker-dealers and insurance companies. Brandon Troster joins as Senior Vice President to lead the Broker Dealer Banking Group. The bank aims to expand its services and deepen relationships with clients ranging from $100 million to $1 billion in size. Recently, Customers Bank introduced additional banking groups and launched a blockchain-based payments system, generating $1.5 billion in deposits.

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Customers Bancorp, Inc. (NYSE: CUBI) has declared a quarterly cash dividend of $0.333922 per share on its Series E Preferred Stock and $0.310297 on Series F Preferred Stock. Both dividends are set for payment on March 15, 2022, to shareholders recorded by February 28, 2022. The bank, with assets of approximately $19.6 billion as of December 31, 2021, offers a range of financial services through its subsidiary, Customers Bank.

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Customers Bancorp, Inc. (NYSE: CUBI) has expanded its Board of Directors by appointing retired Brigadier General Bernard B. Banks and Robert N. Mackay, CEO of Regnology. This move is part of the company's strategy to enhance leadership in technology, diversity, and financial services. Banks brings extensive military leadership experience and a focus on talent development, while Mackay contributes his expertise in financial technology. Both will also serve on the ESG and Risk Committees.

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Customers Bancorp reported a record net income of $300.1 million for 2021, representing an increase of 153% from 2020, with diluted earnings per share at $8.91. Q4 2021 net income was $98.6 million, up 87% year over year. Key metrics include a 48% rise in deposits to $16.8 billion and a 33% increase in tangible book value per share to $37.21. The company expects core earnings of $4.75 - $5.00 for 2022 and over $6.00 in 2023, driven by robust loan growth and a successful launch of its blockchain payment system.

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Customers Bancorp, Inc. (NYSE: CUBI) will conduct a webcast on January 25, 2022, at 9:00 AM EST to discuss its earnings for Q4 and the full year 2021. The earnings press release will be available after market close on January 24, 2022. Key executives including CEO Jay Sidhu will participate in the call. Customers Bancorp operates Customers Bank, a full-service bank with $19.1 billion in assets as of September 30, 2021, providing various banking services and blockchain-based digital payments to clients.

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Customers Bank, a leading digital bank with $19.1 billion in assets, has enhanced its Digital Asset Banking Team by hiring seven industry experts from Silvergate Capital. This strategic move aims to bolster its services for commercial cryptocurrency clients. CEO Sam Sidhu highlighted the bank's commitment to becoming a premier financial partner in the digital asset space. Following the soft launch of the Customers Bank Instant Token (CBITTM), the bank reported $1.5 billion in non-interest bearing deposits and plans to further expand its crypto client base in 2022.

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Customers Bank, a top 100 digital-forward bank with $20 billion in assets, has undergone a significant rebranding to enhance its fintech identity. The bank has facilitated $10 billion in Paycheck Protection Program loans and launched a new blockchain payment platform, attracting $1.5 billion in deposits. This strategic shift aims to position the bank nationally and appeal to younger, tech-savvy clients. The new branding reflects a modern approach to banking while maintaining its foundational values.

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Customers Bancorp, Inc. (NYSE: CUBI) has declared a quarterly cash dividend of $0.33215 per share on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E, payable on December 15, 2021, to shareholders of record on November 30, 2021. Additionally, a dividend of $0.375 per share has been announced for Series F, also payable on December 15, 2021. Customers Bank, a subsidiary, has assets of approximately $19.1 billion as of September 30, 2021.

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Customers Bank, a subsidiary of Customers Bancorp (NYSE: CUBI), has announced its inaugural list of institutional crypto clients, solidifying its position within the growing crypto financial services sector. The bank is focused on providing fiat currency transactions for institutional clients and has onboarded key players including Genesis Global Trading, Blockfills, GSR, and SFOX. With $1.5 billion of zero-cost deposits reported in Q3 and a commitment to enhancing capital efficiency via its CBIT™ token, Customers Bank aims to expand its services across various sectors, projecting exponential growth in digital asset transactions.

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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.

CUSTOMERS BANCORP INC

NYSE:CUBI

CUBI Rankings

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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