CUSTOMERS BANCORP INC - CUBI STOCK NEWS

Customers Bancorp, Inc. (NYSE: CUBI) has appointed Andrew B. Sachs as Executive Vice President, General Counsel, and Corporate Secretary, succeeding Michael A. DeTommaso, who is retiring. Sachs brings 13 years of legal experience, previously serving at Kilpatrick Townsend & Stockton LLP. He played a key role in supporting Customers Bank during its PPP loan initiative. The bank has accelerated its digital transformation during the pandemic, announcing plans for AI-driven consumer lending and a blockchain-based B2B payment system. Customers Bank has also expanded its presence with new offices in Orlando, Dallas, and Chicago.

Customers Bancorp, Inc. (NYSE: CUBI) will hold a webcast on July 29, 2021, at 9:00 AM EDT to report Q2 earnings results for the period ending June 30, 2021. Key executives, including Chair & CEO Jay Sidhu and CFO Carla Leibold, will lead the call. The earnings press release will be available after market close on July 28, 2021. Customers Bancorp operates Customers Bank, which had $18.8 billion in assets as of March 31, 2021, providing banking services through digital and physical channels.

Customers Bank, a subsidiary of Customers Bancorp (NYSE: CUBI), announced key promotions and hires in its accounting department. Jessie John Velasquez has been promoted to Executive Vice President, Chief Accounting Officer, bringing over 19 years of experience. Lisa L. Schmoke joins as Senior Vice President, Corporate Controller, with 25 years in accounting and regulatory reporting. ThanhNga (Julia) Hoang is now Vice President, SEC Reporting Manager, with a strong background in financial reporting. These appointments aim to enhance financial oversight and compliance as Customers Bank continues to grow.

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.