Customers Bancorp, Inc., a holding company that operates through its wholly owned banking subsidiary, Customers Bank (the “Bank”), announced today the pricing of the previously announced underwritten public offering of 2,189,781 shares of its voting common stock, $1.00 per share par value, at a public offering price of $68.50 per share. The gross proceeds to the Company is approximately $150 million. In addition, the Company has granted the underwriters a 30-day right to purchase up to an additional 328,467 shares of voting common stock at the public offering price, less underwriting discounts and commissions.
Morgan Stanley, Keefe, Bruyette & Woods, A Stifel Company, and Raymond James & Associates, Inc. are serving as joint book-running managers for the offering. B. Riley Securities, D.A. Davidson & Co., Hovde Group, LLC and Maxim Group LLC are acting as co-managers for the offering.
The Company intends to use the net proceeds of this offering of voting common stock for general corporate purposes to support organic growth, which may include: refinancing, reducing or repaying indebtedness; repurchasing shares of voting common stock; redeeming, in whole or in part, shares of Series F Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock; investments in Customers Bank and any other of the Company’s subsidiaries as regulatory capital to fund growth; financing, in whole or in part, possible investments or acquisitions; expansion of the Company’s business; and investments at the holding company level.
The Company expects to close the offering, subject to customary conditions, on or about September 5, 2025.
Additional Information Regarding the Offering
The offering of voting common stock is being made pursuant to a registration statement on Form S-3 (File No. 333-290008 that became effective on September 3, 2025. A preliminary prospectus supplement to which this communication relates has been filed with the Securities and Exchange Commission (the “SEC”). Prospective investors should read the preliminary prospectus supplement and the accompanying prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the offering. Copies of these documents are available at no charge by visiting the SEC’s website at www.sec.gov. Alternatively, when available, copies of the preliminary prospectus supplement, the prospectus supplement and accompanying prospectus related to the offering may be obtained by contacting Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Keefe, Bruyette & Woods, Inc., A Stifel Company, Attention: Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, New York 10019 or by calling toll-free at (800) 966-1559; or Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL, 33716, or by telephone at (800) 248-8863, or by e-mail at prospectus@raymondjames.com.
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