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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 Bank has promoted Jennifer Frost to Executive Vice President and Chief Administrative Officer, as well as a member of the Management Board. Frost, who has over 20 years of management experience in leading financial institutions, previously served as senior vice president at Customers Bank. She played a key role in digitizing the bank's operations to enhance customer convenience. The bank, with assets around $18.8 billion, aims to continue its growth and franchise value under Frost's leadership.
Customers Bank has appointed Joseph M. Pennini as Managing Director and Head of Fund Finance, aiming to enhance its private equity lending practice and treasury services. With over 30 years in investment banking at firms like J.P. Morgan, Pennini is expected to drive strategic growth in this underserved market. He will lead a team that includes Marya Savola, Vice President and Credit Portfolio Manager, and Oleg Karaman, who focuses on Treasury Services. The bank is also expanding its commercial banking presence nationally, including new offices in Dallas and Orlando.
Customers Bank has been acknowledged as a top-10 lending partner by the Pennsylvania Housing Finance Agency (PHFA) for the fourth consecutive year, ranking 6th overall, up from 7th last year. Additionally, the bank secured the top position in the Loans to Minority First-time Homebuyers category. Three CRA loan officers were recognized for their contributions, with Vice President Elsie Maduro being highlighted as PHFA's third top producer. The rankings reflect the total volume of PHFA home loan closings from over 80 lending partners in Pennsylvania.
Customers Bancorp, Inc. (NYSE:CUBI) held its virtual annual meeting on May 26, where shareholders elected two directors and ratified Deloitte & Touche LLP as the independent auditor. The bank highlighted its leadership in the Paycheck Protection Program with nearly $10 billion in loans. Notable developments included a new blockchain-based payment system, expansion of consumer lending, and the opening of new offices. Additionally, Richard A. Ehst retired, and Sam Sidhu will succeed him as CEO on July 1, 2021. The bank emphasized strong financial performance and commitment to ESG initiatives.
Customers Bank, a subsidiary of Customers Bancorp (NYSE:CUBI), has partnered with Tassat to use its proprietary TassatPay® Network, aiming to enhance B2B payments for business clients and drive low-cost deposit growth. This innovative platform leverages blockchain technology to enable secure, instant transactions, overcoming common payment challenges. Customers Bank, a top PPP lender, is set to transform its payment services by collaborating with clients to address specific needs, marking a significant step in its digital evolution.
Customers Bank, with approximately $18.8 billion in assets, is expanding its operations by opening new offices in Orlando, Florida, and Dallas, Texas, while enhancing its presence in the Midwest. Joseph Nowland will lead the local banking team to implement a high-tech, high-touch banking model. New vice presidents Brian Buck, Dr. Shalonda Warren, and Robert Frederick will focus on building client relationships in targeted industries. This expansion aims to support businesses with revenues between $10 million and $100 million, providing various financial services to help them thrive.
Customers Bank, with approximately $18.8 billion in assets, is expanding nationally by opening new commercial offices in Dallas-Fort Worth and Orlando while enhancing its presence in the Midwest. Jake Danielski will lead the Texas team, which includes experienced professionals like David Stout and Matthew Chrastka. They aim to offer tailored banking services to privately owned businesses generating $5 million to $100 million in revenue, focusing on personalized relationships rather than business size. The bank offers a comprehensive suite of financial services, including commercial lending and cash management.
Customers Bank is expanding its presence in the Midwest by opening new commercial banking offices in Chicago, Dallas, and Orlando, as part of its national growth strategy. With approximately $18.8 billion in assets, the bank aims to enhance customer service through its single-point-of-contact banking model, emphasizing strong client relationships. Ian Kay will lead the Chicago team, backed by industry veteran Mary Haley, to offer comprehensive banking solutions tailored to privately owned businesses with revenue between $5 million and $100 million.
Customers Bank is expanding its national presence with new branches in Florida and Texas, aiming to enhance its services for commercial and consumer clients. The Florida office will be in Orlando, while the Texas branch will be located in Dallas, complementing its existing Midwest operations in Chicago. This expansion underscores the bank's commitment to providing specialized services in real estate and technology, with a focus on small to medium-sized enterprises. Customers Bank also highlights its success in the SBA Paycheck Protection Program, facilitating over $9.6 billion in loans.
Customers Bancorp, Inc. (NYSE:CUBI) announced quarterly dividends for its Preferred Stocks. Series C will pay $0.350359 per share, Series D will pay $0.33694233 per share, Series E will pay $0.403125 per share, and Series F will pay $0.375 per share. All dividends are payable on June 15, 2021, to shareholders of record as of May 31, 2021. The bank, with approximately $18.8 billion in assets as of March 31, 2021, offers a range of banking services to small and medium-sized businesses, families, and individuals.
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