New direction instills customers with the
confidence to take on tomorrow
Customers Bank, a digital-forward top 100 bank in the nation
with $20 billion in assets, experienced exponential growth over the
last two years as a result of participating in approximately
347,000 Paycheck Protection Program loans with an aggregate value
of $10 billion and the launch of its blockchain-based real-time
payments platform for cryptocurrency and digital asset institutions
that drove $1.5 billion in deposits. As a result of these products
and the increased growth, Customers Bank has expanded beyond its
northeast geographic footprint to service clients across the
nation. As a result, the executive leadership undertook a complete
rebranding to reposition the bank as a fintech-forward-focused
banking institution that provides commercial and consumer clients
the stability, regulatory and trust inherent in working with an
established bank. The rebranding encapsulates the new vision,
mission, tagline, logo, website and more.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211216005004/en/
The recent product expansions have put Customers Bank in a very
different position today. The bank now has customers and clients
located throughout the United States and looks nationally to
identify potential product offerings that enable the bank and its
clients to continue growing.
"The original Customers Bank brand with a red, white, and blue
theme and the American Flag as a centerpiece did very well for us.
It clearly represented the American Dream and our emphasis on
assisting the challengers, small business owners and entrepreneurs
to punch above their weight class to achieve their financial and
growth objectives. We will always hold American values, democracy,
and heritage closely in our hearts," said Jay Sidhu, Executive
Chairman of Customers Bank. "But as an emblem of a fintech-forward
financial institution with a national reach, we need to signal
markets, investors, and clients that we have a modern look, feel
and discipline."
Fueled by a fintech-community bank hybrid business model, and
the bank's recent successes, Customers Bank launched other new
commercial financial product lines and opened additional offices in
key metro markets around the country. New clients attracted to the
bank are younger, more diverse, more tech savvy, and looking for a
different customer experience. The new brand – from logo to website
to apps to social media to office space – is designed to capture
this vibe.
"Our name is staying the same. Business clients and customers
will continue to rely on our Team Members to combine the best of
technology with a deeply human touch," stated Sam Sidhu, President
and Chief Executive Officer of Customers Bank. "We're keeping our
promise to connect our clients with growth opportunities to achieve
their financial goals and provide them with the confidence to take
on tomorrow."
Taking on a rebranding initiative for a financial institution
with national business lines and clientele is a complex endeavor.
Customers Bank examined every part of the brand looking at the logo
and colors to external experiences and internal beliefs. The logo
features two overlapping blue rings that represent the bank's
obsession with connecting to customers and providing highly
personalized service. Even if the image is rotated, the connection
remains, which perfectly embodies Customers Bank's new brand.
Customers Bank was launched in 2009 by Jay Sidhu and a handful
of investors with the acquisition of the struggling New Century
Bank that had about $250 million in assets and a few branches in
Southeastern Pennsylvania. The bank quickly established a brand
based around remarkable customer experiences, agility and
innovation.
The bank evolved into a digital-forward financial institution
that offers unique lines of business that distinguish it from other
banks, including Warehouse Lending, Specialty Lending, Fund Finance
and additional products and services. Still "branch lite,"
Customers Bank continues growing and evolving quickly, with
successes that catch the eye of Wall Street investors and boost
shareholder value. Now the brand is getting a total makeover.
"Customers Bank has vision, drive, energy, excitement and a
leading-edge approach to financial services that we believe is
captured by the new brand," added Sam Sidhu. "This is the brand
image, not of our legacy, but of our future. This is the brand we
live every day and will guide us in the decades to come."
The new direction capitalizes on the banks' nimble, innovative
and entrepreneurial spirit to operate like a fintech while
providing clients with the regulatory stability of a large bank.
This regulatory stability also makes Customers Bank an attractive
connector between fintechs that do not have the experience managing
oversight or regulatory issues with their clients that desire the
established trust inherent in working with a leading banking
institution. These relationships position Customers Bank as the
great connector that can champion the challengers and provide them
with the tools and functions they seek from large issuing
banks.
"We're focused on our customers, employees, and investors every
day—connecting them to real opportunities, helping them grow, and
doing it all with speed and agility so they can get further,
faster," stated Sam Sidhu. "We're here to give people the edge they
need for today, and the confidence to take on tomorrow."
See the new brand identity by visiting
www.customersbank.com.
About Customers Bank
Customers Bank is a full-service bank with $19.1 billion in
assets at September 30, 2021, and a wholly owned Customers Bancorp,
Inc. (NYSE:CUBI). 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 and lending services to small and medium-sized
businesses, professionals, individuals, and families. Services and
products are available wherever permitted by law through
mobile-first apps, online portals, and a network of offices and
branches. Customers Bank provides blockchain-based digital payments
via the Customers Bank Instant Token (CBITTM) which allows clients
to make real-time payments in US dollars, 24 hours a day, 7 days a
week, 365 days a year. More at www.customersbank.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211216005004/en/
Sam Sidhu, President & CEO, 484-744-8985 Adam
Bell, SVP Marketing, 646-201-3065
Customers Bancorp (NYSE:CUBI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Customers Bancorp (NYSE:CUBI)
Historical Stock Chart
From Jul 2023 to Jul 2024