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 Bancorp, Inc. (NYSE: CUBI) will host a webcast on January 26, 2023, at 9:00 AM EST to report its earnings for Q4 and the full year ending December 31, 2022. The event will feature key executives including Chair & CEO Jay Sidhu and CFO Carla Leibold. An earnings press release will be issued after the market closes on January 25, 2023. Customers Bancorp has over $20 billion in assets and is ranked among the top-performing banks in the US, showcasing its position as a pioneer in digital banking solutions.
The Btech Consortium has launched a technology partnership involving U.S. community banks, Elizabeth Park Capital Management, and Strandview Capital. The initiative aims to enhance community banks' competition against larger money-center banks by pooling resources to invest in fintech startups. Member banks will access insights into fintech trends and improve their IT strategies. The partnership will focus on critical areas such as business payments, cyber security, and regulatory compliance. By collaborating, community banks can leverage technology to serve customers better and boost efficiency.
Customers Bancorp, Inc. (NYSE: CUBI) announced that the bankruptcy of FTX and its affiliates has no significant impact on its banking subsidiary, Customers Bank (OTC-PINK: USBK). The Bank does not maintain a deposit relationship with FTX or engage in lending within the digital asset sector. As of November 15, 2022, deposit balances related to its CBIT service remained stable at $1.85 billion. Customers Bank ranks among the top-performing banks in the U.S., with over $20 billion in assets, and offers a comprehensive range of banking services, including blockchain-based payment solutions.
Customers Bancorp, Inc. (NYSE: CUBI) declared a quarterly cash dividend of $0.53289158 per share for its Series E preferred stock and $0.50900408 for its Series F preferred stock. Both dividends are payable on December 15, 2022, to shareholders of record on November 30, 2022. Customers Bancorp, with assets exceeding $20 billion, is recognized as one of the top-performing banking companies in the US and is a pioneer in digital banking and Blockchain technology.
Customers Bancorp reported Q3 2022 net income of $61.4 million ($1.85 per share), with core earnings of $82.3 million ($2.48 per share), marking a significant increase from Q3 2021. Despite facing economic challenges, net interest income rose 38% year-over-year, driven by growth in low-risk specialty lending, with total loans increasing by $4.5 billion (57.3%). However, diluted earnings per share and core earnings per share saw declines of 43.1% and 26.2%, respectively. Total deposits grew 3.2% year-over-year, while the bank maintained strong asset quality with non-performing assets at 0.14%.
Customers Bancorp, Inc. (NYSE: CUBI) will host a webcast at 9:00 AM EDT on October 27, 2022, to discuss its earnings results for Q3 2022, ending September 30, 2022. The webcast will feature Chair & CEO Jay Sidhu, President Sam Sidhu, CFO Carla Leibold, and Chief Credit Officer Andrew Bowman. The earnings press release will be issued after the market closes on October 26, 2022. Customers Bank, a wholly owned subsidiary, had assets totaling $20.3 billion as of June 30, 2022, and offers a range of banking services supported by innovative digital payment options.
Customers Bancorp (NYSE: CUBI) has appointed Raj Date, a seasoned financial expert and former Deputy Director of the CFPB, to its Board of Directors. Date brings extensive experience in financial services and public policy, previously serving in senior roles at the CFPB and FDIC. He will focus on navigating challenges like inflation, digital asset regulation, and compliance, aligning with Customers Bancorp's innovative business model. Date will serve on the Compliance and Risk Committees and will stand for election in 2024.
Customers Bancorp, Inc. (NYSE: CUBI) has declared a quarterly cash dividend of $0.445233 per share on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E, payable on September 15, 2022. Shareholders of record by August 31, 2022 will be eligible. Additionally, a quarterly cash dividend of $0.421083 per share has been announced for Series F, also payable on September 15, 2022. Customers Bancorp operates Customers Bank, a super-community bank with assets around $20.3 billion.
Customers Bancorp (NYSE:CUBI) reported Q2 2022 net income of $56.5 million ($1.68 per share), a 2.6% decline year-over-year. Core earnings rose to $59.4 million ($1.77 per share), up 0.1%. Excluding the Paycheck Protection Program (PPP), net income surged 32.3% to $46.3 million. Despite a strong loan growth of $4.4 billion (56.6% year-over-year), ROAA fell to 1.17% from 1.27%. The bank's efficiency ratio improved to 42.14%. Deposits grew by $3.1 billion (22.1%), with total demand deposits up 64%. Customers Bancorp remains optimistic for continued growth in 2022 and 2023.
Customers Bank (OTC-PINK:USBK), a digital-focused super-community bank, has announced the consolidation of five Pennsylvania branches as part of its expansion strategy. The affected branches are located in Exeter, Langhorne, Muhlenberg, Newtown Square, and Wayne, with changes expected in late October and early November. CEO Sam Sidhu emphasized the shift towards digital banking, citing reduced necessity for physical branches. The bank has also opened non-branch offices in various locations and launched a blockchain-based payment service, aiming for customer service enhancement and shareholder value growth.