Customers Bank Onboards 10 Experienced Banking Teams and Accelerates Deposit Transformation; Builds Prominence on East, West Coasts

Recruitment drive fuels distinct Single Point of Contact banking model designed to offer unparalleled client service and attention

Customers Bank, the $22 billion asset subsidiary of Customers Bancorp (NYSE:CUBI), has onboarded 10 experienced commercial and business banking teams in New York, California and Nevada. The hiring drive is expected to accelerate the Bank’s deposit growth potential and represents significant investment in its Single Point of Contact banking model, designed to exceed client expectations.

With new talent, Customers Bank builds its prominence on East and West Coasts. For the Bank, the new teams enhance its presence in New York City, where it has successfully operated for over seven years; reinforce its dedication to L.A.; add representation in Orange County, Calif.; and bring client coverage to the communities of Reno and Las Vegas, Nev.

All newly onboarded bankers are highly respected in the commercial deposits space and augment existing expertise in private banking, treasury management, and commercial and industrial lending. They are charged with accelerating growth of the Bank’s low-cost, relationship-focused deposit portfolio, and their addition strengthens the Bank’s commitment to its signature relationship-oriented service approach.

“At Customers Bank, we're intent on ensuring that our teams are fully supported to provide our clients with access to trusted and tested expertise,” said Customers Bank Executive Chairman Jay Sidhu. “We want our clients to succeed and achieve their goals, all while being wowed by the senior level of support they receive at every turn.”

“We are delighted to welcome these experienced teams to Customers Bank. These hires are a deliberate continuation of our strategy to provide incredible service to middle-market commercial businesses and solidify Customers Bank’s national banking capabilities,” added Sam Sidhu, President and CEO of Customers Bank. “Over time, they will help us become the prominent customer-oriented bank in our markets, and we expect they will add thousands of customer relationships to the Bank.”

While Customers Bank will not immediately have locations in L.A., Orange County, Reno or Las Vegas, it is evaluating the benefit of offices in these markets to support existing and future clients. In Q2 2024, the Bank will open three new locations in Menlo Park, Calif; Durham, N.C.; and Denver, Colo., to further support its venture finance customers.

Institutional Background

Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation’s top-performing banking companies with nearly $22 billion in assets, making it one of the 80 largest bank holding companies in the U.S. Customers Bank’s commercial and consumer clients benefit from a full suite of technology-enabled tailored product experiences delivered by best-in-class customer service distinguished by a Single Point of Contact approach. In addition to traditional lines such as C&I lending, commercial real estate lending and multifamily lending, Customers Bank also provides a number of national corporate banking services to specialized lending clients. Major accolades include:

• No. 5 on American Banker 2023 list of top-performing banks with $10B to $50B in assets
• No. 29 out of the 100 largest publicly traded banks in 2024 Forbes Best Banks list
• No. 52 on Investor’s Business Daily 100 Best Stocks for 2023

A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender. Learn more: www.customersbank.com.

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