Welcome to our dedicated page for Customers Bancorp news (Ticker: CUBI), a resource for investors and traders seeking the latest updates and insights on Customers Bancorp stock.
The Customers Bancorp, Inc. (NYSE: CUBI) news page on Stock Titan aggregates company announcements, earnings releases, capital markets activity, and other material updates disclosed by the bank holding company and its subsidiary, Customers Bank. As one of the 80 largest bank holding companies in the United States by assets, Customers Bancorp regularly issues news that sheds light on its commercial and consumer banking activities, capital structure decisions, and strategic initiatives.
Readers can find detailed earnings press releases that discuss net interest income, net interest margin, loan and lease growth, deposit trends, credit quality metrics, and non-interest income and expense. These releases often include management commentary on strategic priorities, capital raises, and operational efficiency, as well as non-GAAP measures and their reconciliations.
The news feed also covers announcements about common stock offerings, subordinated note issuances, and preferred stock actions, such as the redemption of the company’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F. In addition, Customers Bancorp publishes updates on its geographic expansion, including the opening of new offices in markets such as Irvine, Sherman Oaks, Sacramento, Reno, and Las Vegas, which it links to serving entrepreneurs, privately held businesses, commercial real estate developers, and investors.
Leadership and governance developments, including executive appointments, board changes, and new employment agreements, are disclosed through press releases and related SEC filings and are reflected in the news stream. The company also highlights external recognitions, such as rankings from American Banker, Forbes, and Inc. Magazine, and reports Net Promoter Scores that it compares to industry averages.
By following the CUBI news page, users can review a chronological record of Customers Bancorp’s public communications, from financial performance updates to capital markets transactions and service model milestones, all sourced from official press releases and filings.
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.
Customers Bancorp, Inc. (NYSE: CUBI) will conduct a webcast on January 25, 2022, at 9:00 AM EST to discuss its earnings for Q4 and the full year 2021. The earnings press release will be available after market close on January 24, 2022. Key executives including CEO Jay Sidhu will participate in the call. Customers Bancorp operates Customers Bank, a full-service bank with $19.1 billion in assets as of September 30, 2021, providing various banking services and blockchain-based digital payments to clients.
Customers Bank, a leading digital bank with $19.1 billion in assets, has enhanced its Digital Asset Banking Team by hiring seven industry experts from Silvergate Capital. This strategic move aims to bolster its services for commercial cryptocurrency clients. CEO Sam Sidhu highlighted the bank's commitment to becoming a premier financial partner in the digital asset space. Following the soft launch of the Customers Bank Instant Token (CBITTM), the bank reported $1.5 billion in non-interest bearing deposits and plans to further expand its crypto client base in 2022.
Customers Bank, a top 100 digital-forward bank with $20 billion in assets, has undergone a significant rebranding to enhance its fintech identity. The bank has facilitated $10 billion in Paycheck Protection Program loans and launched a new blockchain payment platform, attracting $1.5 billion in deposits. This strategic shift aims to position the bank nationally and appeal to younger, tech-savvy clients. The new branding reflects a modern approach to banking while maintaining its foundational values.
Customers Bancorp, Inc. (NYSE: CUBI) has declared a quarterly cash dividend of $0.33215 per share on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E, payable on December 15, 2021, to shareholders of record on November 30, 2021. Additionally, a dividend of $0.375 per share has been announced for Series F, also payable on December 15, 2021. Customers Bank, a subsidiary, has assets of approximately $19.1 billion as of September 30, 2021.
Customers Bank, a subsidiary of Customers Bancorp (NYSE: CUBI), has announced its inaugural list of institutional crypto clients, solidifying its position within the growing crypto financial services sector. The bank is focused on providing fiat currency transactions for institutional clients and has onboarded key players including Genesis Global Trading, Blockfills, GSR, and SFOX. With $1.5 billion of zero-cost deposits reported in Q3 and a commitment to enhancing capital efficiency via its CBIT™ token, Customers Bank aims to expand its services across various sectors, projecting exponential growth in digital asset transactions.
Customers Bancorp (CUBI) reported Q3 2021 net income of $110.2 million, or $3.25 per diluted share, marking a 120% increase from Q3 2020. Core earnings reached $113.9 million, up 178% year-over-year. Total deposits rose by 56.6% to $17.0 billion, driven by a $1.5 billion influx from the new Customers Bank Instant Token (CBIT) for blockchain payments. The bank's net interest margin improved to 4.59%, while the efficiency ratio significantly decreased to 33.42%. Despite growth, a $13.2 million provision for credit losses was noted. Customers remains optimistic about future earnings and growth opportunities.