Customers Bank takes first place in Bank Director magazine's Inaugural Growth Leaders Ranking Leading industry trade publication cites Customers Bank for outstanding record of growth in three of four categories
WYOMISSING, Pa., May 6, 2013 /PRNewswire/ -- Customers Bank has garnered top honors in a national performance ranking conducted by Bank Director magazine which appears in the publication's second quarter edition and is posted online at: http://www.bankdirector.com/index.php/magazine/archives/2nd-quarter-2013/who-says-there-s-no-growth-in-banking/
The Bank Director 2013 Growth Leaders Ranking placed Customers Bank first or second in three out of four major categories, with first place honors achieved in Core Income and Net Loans/Leases, and second place honors in Core Non-Interest Income. The Growth Leaders Ranking graded banks and thrifts nationwide according to their percentage growth in four categories:
- Core income – defined as net interest income plus net non-interest income
- Core non-interest income
- Net loans/leases
- Core deposits
"We are honored to receive this recognition that comes from respected financial industry analysts and is based on proven performance," said Jay Sidhu, Chairman and Chief Executive Officer for Customers Bank. "This is a noteworthy distinction, particularly for a regional community bank that started out in 2009 as a $250 million asset bank and in the short time since has grown into a nearly $3.5 billion asset institution."
"We think this recognition is indicative of the fact that Customers Bank is doing something right in the banking industry," Sidhu added. "This has truly been a team effort – to provide a high level of service and an environment of effortless banking that earns a high level of trust and confidence from our customers."
The Bank Director ranking looked at banks and thrifts that have demonstrated superior growth performance based on call report data for the first three quarters of 2012. The ranking includes depository institutions that have $1 billion or more in assets, and also have traditional business models. Analysis was provided by Bank Intelligence Solutions, a subsidiary of Fiserv, a leading global provider of information management and electronic commerce systems for the financial services industry.
About Customers Bank
Customers Bank is a community-based, full-service bank headquartered in Phoenixville, Pa., with assets of approximately $3.5 billion. A member of the Federal Reserve System and deposits insured by the Federal Deposit Insurance Corporation ("FDIC"), Customers Bank provides a full range of banking services to small and medium-sized businesses, professionals, individuals and families through offices in Pennsylvania, New York, Rhode Island, 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 a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers. Customers Bank is a subsidiary of Customers Bancorp, Inc., a bank holding company based in Wyomissing, Pa. For more information, visit www.customersbank.com. Follow us at www.twitter.com/@CustomersBank
"Safe Harbor" Statement
In addition to historical information, this press release may contain "forward-looking statements" which are made in good faith by Customers Bancorp, Inc., pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. 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. 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, as well as any changes in risk factors that may be identified in its quarterly or other reports filed with the SEC. 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.
SOURCE Customers Bank