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USA BANK (NY) - USBK STOCK NEWS

Welcome to our dedicated page for USA BANK (NY) news (Ticker: USBK), a resource for investors and traders seeking the latest updates and insights on USA BANK (NY) stock.

USA BANK (NY) (symbol: USBK) is a prominent financial institution headquartered in New York, specializing in a comprehensive range of banking services. Known for its customer-centric approach, USA BANK provides personalized banking solutions to both individual and corporate clients. The bank's core services include savings and checking accounts, loans, credit cards, mortgages, and investment services.

Recent achievements highlight the bank's commitment to innovation and customer satisfaction. USA BANK has upgraded its digital banking platform to offer enhanced security features and a more user-friendly interface. Current projects include expanding its branch network and increasing its ATM footprint to better serve its growing customer base.

Financially, USA BANK continues to demonstrate robust performance, with steady revenue growth and a stable capital base. The bank has formed strategic partnerships with fintech companies to offer cutting-edge financial products and services. Additionally, USA BANK collaborates with community organizations to support local development and economic growth.

Through its diversified product portfolio and financial strength, USA BANK remains a significant player in the banking industry. Whether you're looking for day-to-day banking services or complex financial solutions, USA BANK offers reliable and accessible options tailored to your needs.

News

Customers Bank Announces Purchase of FDIC Interest in Fintech Investment Fund

Rhea-AI Summary

Customers Bank, a $22 billion asset subsidiary of Customers Bancorp (NYSE:CUBI), has purchased a minority partnership interest in a fintech investment fund for $5 million, achieving a 70% discount on the original cost. This is the bank's sixth venture fund investment and aligns with its strategic focus on venture banking and early-stage companies. The bank's president and CEO, Sam Sidhu, highlighted the investment's role in strengthening the bank's position in the venture community and enhancing its client base. Earlier in June 2023, Customers Bank acquired a $631 million legacy Signature Bank loan portfolio from the FDIC, integrating around 30 experienced venture bankers.

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Customers Bancorp, Inc. Declares Quarterly Cash Dividend on Its Series E and Series F Preferred Stock

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Customers Bancorp, Inc. announced the declaration of quarterly cash dividends for its Series E and Series F Preferred Stock. Series E will have a dividend of $0.685584 per share, while Series F will have a dividend of $0.661434 per share. The dividends are payable on June 17, 2024, to shareholders of record on May 31, 2024. Customers Bancorp is a top-performing banking company with $22 billion in assets, offering tailored product experiences and national corporate banking services.

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Customers Bancorp Reports Results for First Quarter

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Customers Bancorp, Inc. (NYSE:CUBI) reported strong financial results for the first quarter of 2024, with net income available to common shareholders of $45.9 million. Core earnings, adjusted core earnings, and key ratios like ROAA and ROCE showed positive growth. Total deposits increased, driven by business unit deposit growth and repayment of wholesale CDs. Non-interest bearing deposits also rose. While non-performing assets increased slightly, asset quality remained strong. The CEO highlighted strategic priorities, welcoming experienced banking teams to accelerate deposit franchise growth and improve profitability.
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Customers Bancorp, Inc. to Host First Quarter 2024 Earnings Webcast on Friday, April 26, 2024

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Customers Bancorp, Inc. (NYSE: CUBI) will host a webcast on April 26, 2024, to report its first quarter 2024 earnings results. The company, with nearly $22 billion in assets, offers a full suite of banking services and has received various accolades for its performance.
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Customers Bank Onboards 10 Experienced Banking Teams and Accelerates Deposit Transformation; Builds Prominence on East, West Coasts

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Customers Bank, a $22 billion asset subsidiary of Customers Bancorp (NYSE:CUBI), has onboarded 10 commercial and business banking teams in NY, CA, and NV, aiming to boost deposit growth. The move strengthens its Single Point of Contact banking model, enhancing client service and expanding its presence on both coasts.
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Customers Bancorp, Inc. Subordinated Notes to Convert from Fixed to Floating Rate

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Customers Bancorp, Inc. (NYSE:CUBI) announced the conversion of subordinated notes issued in 2014 from a fixed rate to a floating rate on June 26, 2024. The Subordinated Notes will now bear interest based on the three-month term SOFR plus a tenor spread adjustment. Customers Bancorp, Inc. is a top-performing banking company with over $21 billion in assets, offering a range of banking services to commercial and consumer clients.
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Customers Bancorp, Inc. Declares Quarterly Cash Dividend on Its Series E and Series F Preferred Stock

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Customers Bancorp, Inc. (NYSE:CUBI) declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E and Series F. The dividend for Series E is $0.68163044 per share, payable on March 15, 2024, and for Series F is $0.65774294 per share, also payable on March 15, 2024. After June 30, 2023, Customers Bancorp Inc. is no longer using the three-month LIBOR as a reference rate for determining the dividend rate of the preferred stocks. The company has replaced the reference rate with the CME Term SOFR Reference Rate published for three-month tenor as administered by CME Group Benchmark Administration, Ltd. The dividend rates for Series E and Series F Preferred Stock are determined by adding a spread to the New Reference Rate. Customers Bancorp, Inc. is one of the nation’s top-performing banking companies with over $21 billion in assets and is a member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation.
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Customers Bancorp Reports Results for Fourth Quarter and Full Year 2023

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Customers Bancorp, Inc. (CUBI) reports strong financial performance in Q4 2023 and full year 2023. Q4 2023 net income available to common shareholders was $58.2 million, or $1.79 per diluted share; ROAA was 1.16% and ROCE was 15.93%. Q4 2023 core earnings were $61.6 million, or $1.90 per diluted share; Core ROAA was 1.22% and Core ROCE was 16.87%. CET 1 capital ratio of 12.2%1 at December 31, 2023, compared to 11.3% at September 30, 2023, surpassing 11.0% - 11.5% target. TCE / TA ratio of 7.0% at December 31, 2023, compared to 6.5% at September 30, 2023, achieving stated target. Q4 2023 net interest margin, tax equivalent (“NIM”) was 3.31%, compared to Q3 2023 NIM of 3.70%. Total estimated insured deposits were 77%2 of total deposits at December 31, 2023, with immediately available liquidity covering uninsured deposits by approximately 202%. Non-performing assets were $27.2 million, or 0.13% of total assets, at December 31, 2023 compared to 0.14% at September 30, 2023. Allowance for credit losses on loans and leases equaled 499% of non-performing loans at December 31, 2023, compared to 466% at September 30, 2023.
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Customers Bancorp, Inc. to host Fourth Quarter and Full-Year 2023 Earnings Webcast on Friday, January 26, 2024

Rhea-AI Summary
Customers Bancorp, Inc. (NYSE: CUBI) will host a webcast on January 26, 2024, to report its earnings for the three months ending December 31, 2023, and full-year 2023. The company is one of the top-performing banking companies with over $22 billion in assets and provides a full suite of technology-enabled tailored product experiences. Customers Bank is a pioneer in Banking-as-a-Service, digital banking products, and blockchain-based digital payment solutions. The company has received major accolades and is a member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation.
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Customers Bancorp, Inc. Declares Quarterly Cash Dividend on Its Series E and Series F Preferred Stock

Rhea-AI Summary
Customers Bancorp, Inc. (NYSE:CUBI) has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE: CUBIPrE) of $0.68319767 per share and on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE: CUBIPrF) of $0.65931017 per share. The dividend is payable on December 15, 2023, to shareholders of record on November 30, 2023.
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FAQ

What services does USA BANK (NY) offer?

USA BANK offers a wide range of services including savings and checking accounts, loans, credit cards, mortgages, and investment services.

Where is USA BANK (NY) headquartered?

USA BANK (NY) is headquartered in New York.

How is USA BANK (NY) performing financially?

USA BANK is demonstrating robust financial performance with steady revenue growth and a stable capital base.

What recent projects has USA BANK (NY) undertaken?

Recent projects include upgrading the digital banking platform and expanding branch and ATM networks.

Does USA BANK (NY) have any strategic partnerships?

Yes, USA BANK has partnered with fintech companies to enhance its financial product offerings.

What is USA BANK's approach to customer service?

USA BANK is known for its customer-centric approach, providing personalized banking solutions.

How does USA BANK (NY) support the community?

USA BANK collaborates with community organizations to support local development and economic growth.

What digital services does USA BANK (NY) offer?

USA BANK has a digital banking platform with enhanced security features and a user-friendly interface.

What sets USA BANK (NY) apart from other banks?

USA BANK's diversified product portfolio, financial strength, and customer-centric approach set it apart.

How can I get the latest news about USA BANK (NY)?

You can get the latest news about USA BANK (NY) on financial news websites and the bank's official website.

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USA BANK (NY)

NYSE:USBK

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Commercial Banking
Finance and Insurance
United States of America