Customers in Pa. Names CFO

By Chris Cumming July 16, 2013, 6:12 p.m. EDT 1 Min Read

Community banking

Customers in Pa. Reports Boosts in Lending, Profit

Lending surged at Customers Bancorp in Wyomissing, Pa., this spring, allowing the $3.8 billion-asset company to report profits of $8.2 million in the second quarter, up 26% from the same period in 2012.

By Chris Cumming

July 16
Community banking

Customers Bancorp in Pa. Raises $100M in Public Offering

Customers Bancorp sold $103.5 million of common stock in a public offering.

By Chris Cumming

May 23

Customers Bancorp (CUBI) in Wyomissing, Pa., has picked its next chief financial officer.

Robert Wahlman will become CFO of the $3.8 billion-asset company and its bank on Aug. 13, Customers announced Tuesday. He succeeds interim CFO James Hogan, 68, who will retire.

Wahlman will join Customers from Doral Financial Corp. in San Juan, Puerto Rico, where he has been CFO since 2009. Earlier he was CFO of various Merrill Lynch affiliates, including U.S. Bank Group and Merrill Lynch Bank.

Wahlman will join Customers on a two-year contract for an annual salary of $315,000, with options to purchase 20,000 shares of the companys stock.

Hogan was named interim CFO in October, following the resignation of Thomas Brugger.

Customers also announced record earnings of $8.2 million on Tuesday.

The company closed a $100 million stock offering in May.

Chris Cumming

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