WYOMISSING, Pa.–(BUSINESS WIRE)–Customers Bancorp, Inc. announced that the Board of Directors has
declared a quarterly cash dividend on its Fixed-to-Floating Rate
Non-Cumulative Perpetual Preferred Stock, Series C (NYSE: CUBIPrC) of
$0.4375 per share. The dividend is payable on June 17, 2019 to
shareholders of record on May 31, 2019.
The Board of Directors has also declared a quarterly cash dividend on
its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock,
Series D (NYSE: CUBIPrD) of $0.40625 per share. The dividend is payable
on June 17, 2019 to shareholders of record on May 31, 2019.
The Board of Directors has also declared a quarterly cash dividend on
its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock,
Series E (NYSE: CUBIPrE) of $0.403125 per share. The dividend is payable
on June 17, 2019 to shareholders of record on May 31, 2019.
The Board of Directors has also declared a quarterly cash dividend on
its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock,
Series F (NYSE: CUBIPrF) of $0.375 per share. The dividend is payable on
June 17, 2019 to shareholders of record on May 31, 2019.
Institutional Background
Customers Bancorp, Inc. is a bank holding company located in Wyomissing,
Pennsylvania engaged in banking and related businesses through its bank
subsidiary, Customers Bank. Customers Bank is a community-based,
full-service bank with assets of approximately $10.1 billion at March
31, 2019. A member of the Federal Reserve System with deposits insured
by the Federal Deposit Insurance Corporation, Customers Bank is an equal
opportunity lender that provides a range of banking services to small
and medium-sized businesses, professionals, individuals and families
through offices in Pennsylvania, the District of Columbia, Illinois, New
York, Rhode Island, Massachusetts, New Hampshire and New Jersey.
Committed to fostering customer loyalty, Customers Bank uses a High
Tech/High Touch strategy that includes use of industry-leading
technology to provide customers better access to their money, as well as
Concierge Banking® by appointment at customers’ homes or offices 12
hours a day, seven days a week. Customers Bank offers a continually
expanding portfolio of loans to small businesses, multi-family projects,
mortgage companies and consumers. Customers Bancorp, Inc.’s voting
common shares are listed on the New York Stock Exchange under the symbol
CUBI. Additional information about Customers Bancorp, Inc. can be found
on the Company’s website, www.customersbank.com.
“Safe Harbor” Statement
In addition to historical information, this press release may contain
”forward-looking statements” within the meaning of the ”safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include statements with respect to
Customers Bancorp, Inc.’s strategies, goals, beliefs, expectations,
estimates, intentions, capital raising efforts, financial condition and
results of operations, future performance and business. Statements
preceded by, followed by, or that include the words ”may,” ”could,”
”should,” ”pro forma,” ”looking forward,” ”would,” ”believe,”
”expect,” ”anticipate,” ”estimate,” ”intend,” ”plan,” or
similar expressions generally indicate a forward-looking statement.
These forward-looking statements involve risks and uncertainties that
are subject to change based on various important factors (some of which,
in whole or in part, are beyond Customers Bancorp, Inc.’s control).
Numerous competitive, economic, regulatory, legal and technological
factors, among others, could cause Customers Bancorp, Inc.’s financial
performance to differ materially from the goals, plans, objectives,
intentions and expectations expressed in such forward-looking
statements. In addition, important factors relating to the acquisition
of the Disbursements business, the combination of Customers’ BankMobile
business with the acquired Disbursements business, the implementation of
Customers Bancorp, Inc.’s strategy to retain BankMobile for 2-3 years,
the possibility that the expected benefits of retaining BankMobile for
2-3 years may not be achieved, or the possible effects on Customers’
results of operations if BankMobile is never divested could cause
Customers Bancorp’s actual results to differ from those in the
forward-looking statements. Further, Customers’ expectations with
respect to the effects of the new tax law could be affected by future
clarifications, amendments, and interpretations of such law. Customers
Bancorp, Inc. cautions that the foregoing factors are not exclusive, and
neither such factors nor any such forward-looking statement takes into
account the impact of any future events. All forward-looking statements
and information set forth herein are based on management’s current
beliefs and assumptions as of the date hereof and speak only as of the
date they are made. For a more complete discussion of the assumptions,
risks and uncertainties related to our business, you are encouraged to
review Customers Bancorp, Inc.’s filings with the Securities and
Exchange Commission, including its most recent annual report on Form
10-K for the year ended December 31, 2018, subsequently filed quarterly
reports on Form 10-Q and current reports on Form 8-K, including any
amendments thereto, that update or provide information in addition to
the information included in the Form 10-K and Form 10-Q filings, if any.
Customers Bancorp, Inc. does not undertake to update any forward-looking
statement whether written or oral, that may be made from time to time by
Customers Bancorp, Inc. or by or on behalf of Customers Bank.
Contacts
Jay Sidhu, Chairman & CEO 610-935-8693
Carla Leibold,
CFO 484-923-8802
Bob Ramsey, Director of Investor Relations
484-926-7118
