Company Profile
- Customers Bancorp, Inc. (NYSE: CUBI, or “the company”) is a $21 billion asset bank holding company for Customers Bank (“the bank”). The company is headquartered in West Reading, PA and operates seven full-service bank branches (as of 4Q23), in addition to several other specialty and loan production offices in various regions of the U.S.
- The loan portfolio is oriented toward specialized C&I lending with modest commercial real estate and consumer lending. The portfolio includes meaningful multifamily and residential mortgage warehouse loan books. Notably, the company’s exposure to office and retail CRE is low. The bank is active in the syndicated and SBA loan markets.
- In 2Q23, the bank acquired a portfolio of venture banking loans from the FDIC (at a discount) together with a sizeable team that has years of experience from multiple banking institutions. The bank was also an active participant in the SBA’s Paycheck Protection Program ($10…