USA BANK (NY) - USBK STOCK NEWS

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 $20 billion in assets, has appointed John Donohue as the Executive Vice President, Managing Director of its new Small Ticket Business within Customers Commercial Finance (CCF). Donohue, a veteran with 30 years of experience, will lead the development of this new product offering. CCF, recognized in the Monitor 100 for equipment financing, serves diverse sectors including Transportation and Food Processing. Customers Bank offers a range of services, including blockchain-based digital payments.

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.

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.

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.

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.

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.