Customers Bancorp, Inc. Announces Pricing of Common Stock Offering

09/03/2025 – 10:30 PM

WEST READING, Pa. – Customers Bancorp, Inc. (NYSE: CUBI), parent company of Customers Bank, today announced the pricing of its public offering of 2,189,781 shares of voting common stock at $68.50 per share. The offering is expected to generate gross proceeds of approximately $150 million for the company. Underwriters have been granted a 30-day option to purchase up to an additional 328,467 shares at the same public offering price, less underwriting discounts and commissions.

Morgan Stanley, Keefe, Bruyette & Woods (a Stifel Company), and Raymond James & Associates, Inc. acted as joint book-running managers for the offering. B. Riley Securities, D.A. Davidson & Co., Hovde Group, LLC and Maxim Group LLC served as co-managers.

Customers Bancorp intends to deploy the net proceeds from the offering for general corporate purposes, including supporting organic growth initiatives. Potential uses include refinancing or repaying existing debt, repurchasing shares of common stock, redeeming preferred stock (specifically, Series F Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock), and making capital investments into Customers Bank and other subsidiaries to fuel expansion. The company is also keeping its options open for possible investments or acquisitions.

The offering is anticipated to close around September 5, 2025, subject to customary closing conditions.

Strategic Implications of the Offering

This capital raise comes at a pivotal time for regional banks, many of which are navigating a complex economic landscape characterized by fluctuating interest rates, increased regulatory scrutiny, and evolving customer expectations. The move signals Customers Bancorp’s proactive approach to strengthening its balance sheet and positioning itself for future growth. By increasing its capital base, the bank enhances its capacity to absorb potential losses, meet regulatory requirements, and pursue strategic opportunities.

Analysts at CNBC note that the potential use of proceeds for technology investment could be a significant driver of future performance. “Banks that effectively leverage technology to enhance customer experience, streamline operations, and develop innovative products are likely to gain a competitive edge,” says one banking sector analyst. “Customers Bancorp’s focus on technology-enabled services suggests a forward-thinking strategy.” This focus on fintech integration could also allow the company to further grow it’s digital asset business unit.

Moreover, the option to repurchase shares and redeem preferred stock indicates a level of confidence in the company’s long-term value and financial stability. These actions could potentially enhance shareholder value by reducing the overall cost of capital and improving earnings per share.

Background on the Offering

The voting common stock offering is being conducted under a registration statement on Form S-3 (File No. 333-290008), which became effective on September 3, 2025. Further details about the offering are available in the preliminary prospectus supplement and accompanying prospectus filed with the Securities and Exchange Commission (SEC). These documents can be accessed on the SEC’s website.

About Customers Bancorp

Customers Bancorp, Inc. (NYSE: CUBI) is a high-performing bank holding company with over $22 billion in assets. It ranks among the 80 largest bank holding companies in the United States. Customers Bank delivers technology-driven and tailored financial solutions to commercial and consumer clients. The company offers a comprehensive suite of services, including C&I lending, commercial real estate lending, multifamily lending, and specialized corporate banking services.

Forward-Looking Statements

This announcement contains forward-looking statements that reflect management’s current views regarding future events and financial performance. These statements involve risks and uncertainties that could cause actual results to differ materially. Factors that could impact results are detailed in the company’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2024, and subsequent Quarterly Reports on Form 10-Q.