Customers Bancorp, Inc. Declares Quarterly Cash Dividend on Its Series C, Series D, Series E, and Series F Preferred Stock
February 02 2017 - 7:00AM
Customers Bancorp, Inc. announced that the Board of Directors has
declared a quarterly cash dividend on its Fixed-to-Floating Rate
Non-Cumulative Perpetual Preferred Stock, Series C (NYSE:CUBIPrC)
of $0.4375 per share. The dividend is payable on March 15,
2017 to shareholders of record on February 28, 2017.
The Board of Directors has also declared a quarterly cash
dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual
Preferred Stock, Series D (NYSE:CUBIPrD) of $0.40625 per share.
The dividend is payable on March 15, 2017 to shareholders of
record on February 28, 2017.
The Board of Directors has also declared a quarterly cash
dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual
Preferred Stock, Series E (NYSE:CUBIPrE) of $0.403125 per share.
The dividend is payable on March 15, 2017 to shareholders of
record on February 28, 2017.
The Board of Directors has also declared a quarterly cash
dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual
Preferred Stock, Series F (NYSE:CUBIPrF) of $0.375 per share.
The dividend is payable on March 15, 2017 to shareholders of
record on February 28, 2017.
Institutional Background
Customers Bancorp, Inc. is a bank holding company located in
Wyomissing, Pennsylvania engaged in banking and related businesses
through its bank subsidiary, Customers Bank. Customers Bank is a
community-based, full-service bank with assets of approximately
$9.4 billion that was named one of Forbes magazine’s 2017 100 Best
Banks in America (there are over 6,200 banks in the United States).
A member of the Federal Reserve System with deposits insured by the
Federal Deposit Insurance Corporation, Customers Bank is an equal
opportunity lender that provides a range of banking services to
small and medium-sized businesses, professionals, individuals and
families through offices in Pennsylvania, New York, Rhode Island,
New Hampshire, Massachusetts, and New Jersey. Committed to
fostering customer loyalty, Customers Bank uses a High Tech/High
Touch strategy that includes use of industry-leading technology to
provide customers better access to their money, as well as
Concierge Banking® by appointment at customers’ homes or offices 12
hours a day, seven days a week. Customers Bank offers a continually
expanding portfolio of loans to small businesses, multi-family
projects, mortgage companies and consumers. BankMobile is a
division of Customers Bank, offering state of the art high tech
digital banking services with a high level of personal customer
service.
Customers Bancorp, Inc. voting common shares are listed on the
New York Stock Exchange under the symbol CUBI. Additional
information about Customers Bancorp, Inc. can be found on the
Company's website, www.customersbank.com.
“Safe Harbor” Statement
In addition to historical information, this
press release may contain “forward-looking statements” within the
meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include statements with respect to Customers Bancorp,
Inc.’s strategies, goals, beliefs, expectations, estimates,
intentions, capital raising efforts, financial condition and
results of operations, future performance and business. Statements
preceded by, followed by, or that include the words “may,” “could,”
“should,” “pro forma,” “looking forward,” “would,” “believe,”
“expect,” “anticipate,” “estimate,” “intend,” “plan,” or similar
expressions generally indicate a forward-looking statement. These
forward-looking statements involve risks and uncertainties that are
subject to change based on various important factors (some of
which, in whole or in part, are beyond Customers Bancorp, Inc.’s
control). Numerous competitive, economic, regulatory, legal and
technological factors, among others, could cause Customers Bancorp,
Inc.’s financial performance to differ materially from the goals,
plans, objectives, intentions and expectations expressed in such
forward-looking statements. In addition, important factors relating
to the acquisition of the Disbursements business and the
combination of Customers’ BankMobile business with the acquired
business also could cause Customers Bancorp’s actual results to
differ from those in the forward-looking statements.
Customers Bancorp, Inc. cautions that the foregoing factors are not
exclusive, and neither such factors nor any such forward-looking
statement takes into account the impact of any future events. All
forward-looking statements and information set forth herein are
based on management's current beliefs and assumptions as of the
date hereof and speak only as of the date they are made. For a more
complete discussion of the assumptions, risks and uncertainties
related to our business, you are encouraged to review Customers
Bancorp, Inc.’s filings with the Securities and Exchange
Commission, including its most recent annual report on Form 10-K
for the year ended December 31, 2015 and subsequently filed
quarterly reports on Form 10-Q. Customers Bancorp, Inc. does
not undertake to update any forward-looking statement whether
written or oral, that may be made from time to time by Customers
Bancorp, Inc. or by or on behalf of Customers Bank.
Contacts:
Jay Sidhu, Chairman & CEO 610-935-8693
Richard Ehst, President & COO 610-917-3263
Investor Contact:
Robert Wahlman, CFO 610-743-8074
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