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Customers Bancorp (CUBI) in Wyomissing, Pa., has raised $133.2 million in a private placement.
June 27 -
Customers Bancorp (CUBI) in Wyomissing, Pa., disclosed unexpectedly high sequential loan growth in the first quarter.
April 2 -
Jay Sidhu's Pennsylvania company is building a separately branded bank that, like Simple, will target a demographic that feels no particular affinity toward traditional banks.
March 3 -
Customers Bancorp in Wyomissing, Pa., (CUBI) plans to launch a virtual mobile banking platform in the third quarter of this year meant to make banking services more effortless for consumers.
February 26
Customers Bancorp in Wyomissing, Pa., turned strong loan and deposit growth into higher profits last quarter.
The $5.6 billion-asset company reported a profit of $10.2 million, up 24% from a year earlier. It earned 37 cents per share.
Loans rose 44.3%, to $4.7 billion, from a year earlier, thanks heavily to a 57% increase in commercial and industrial loans, and a 44.3% increase in consumer loans that included mortgage warehouse loans held for sale, Customers said in press release Wednesday.
Total deposits increased 33%, to $3.7 billion. That helped noninterest income, which rose 24.5%, to $6.9 million, and included a 94% jump in deposit fees.
However, Customers' report had some downsides.
Noninterest expenses increased 49%, to $25.2 million, on higher taxes, regulatory fees, technology improvements and benefits.
And net interest margin was 2.95%, down from 3.24% a year earlier.
