Jay Sidhu, Chairman and CEO for Customers Bank and its bank holding company parent, Customers Bancorp, Inc. (NASDAQ: CUBI), announced the company’s arrival on the respected NASDAQ stock market listing by ringing the Opening Bell Thursday, May 30, at the NASDAQ MarketSite in New York City. Customers Bank’s local branch is located in the Rye Ridge Shopping Center, 102 South Ridge Street, Rye Brook, NY. Since taking command of the troubled New Century Bank in May, 2009, Sidhu and his management team have moved steadily forward under a new name and with an aggressive, innovative, customer-oriented growth strategy. Since 2009, Customers Bank has grown from an approximately $250 million asset institution into a nearly $3.5 billion asset institution with locations stretching from suburban Philadelphia to New England. Last month Customers Bank garnered top honors in Bank Director magazine’s 2013 Growth Leaders Ranking, which placed the bank first or second in three out of four major performance categories among banks nationwide. “In many ways, this prestigious recognition is all thanks to our customers,” Sidhu said. “The fact is, the only way any business can grow is to attract new customers – and hold on to them by keeping them satisfied.” According to Sidhu, that kind of organic growth was made possible because of the unique “high tech, high touch” approach that his management team and employees used in servicing customer needs: • by creating a banking environment that places the customer first, • by focusing on our business and individual customers’ needs and interests, • by offering top tier rates for savers and exceptional service to our customers, • by minimizing or eliminating service fees wherever possible, and • by introducing secure online and mobile banking tools that make banking as easy and effortless as possible. In addition, Customers Bank has introduced a “single point of contact” service model that provides each customer with a private banker to attend to their specific banking needs. “We are working toward a single point of contact model that is designed to eliminate the runaround and the red tape,” explained Richard Ehst, President and COO for Customers Bank. “Just one call to your branch or lender and they will address your need.” “Make no mistake – achieving this level of success has not been easy, especially in an economy that is still struggling to recover,” Sidhu said. “But because of the trust and confidence that our customers have placed in us – our entire Customers Bancorp and Customers Bank team is proud of the recognition and respect that being a member of NASDAQ entails.” Earlier this year, Sidhu and his team announced the acquisition of a commercial loan business in New England and the hiring of experienced lending teams to service the Providence and Boston markets. In addition, the bank announced the creation of a new commercial banking team for the New York City metro area. About Customers Bancorp, Inc. and Customers Bank Customers Bancorp, Inc., based in Wyomissing, Pennsylvania, is a bank holding company for Customers Bank. Customers Bank is a state-chartered, full-service bank headquartered in Phoenixville, Pennsylvania. Customers Bank is a member of the Federal Reserve System and is insured by the Federal Deposit Insurance Corporation (“FDIC”). With assets of approximately $3.5 billion at March 31, 2013, Customers Bank provides a full range of banking services to small and medium-sized businesses, professionals, individuals and families through branch and office locations in Pennsylvania, New York, New Jersey, Rhode Island and Massachusetts. Customers Bank is focused on serving its targeted markets with a growth strategy that includes strategically placed branches throughout its market area and continually expanding its portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers. “Safe Harbor” Statement In addition to historical information, this press release may contain “forward-looking statements” which are made in good faith by Customers Bancorp, Inc., pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. 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. 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, as well as any changes in risk factors that may be identified in its quarterly or other reports filed with the SEC. 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.
