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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Thursday, June 27, 12:38 AM

Slide #184. Customers Bancorp, Inc. Preferred Stock Offering

Company: Customers Bancorp, Inc. (NYSE:CUBI)
Date announced: 4/21/2016
Shares Offered: 2,000,000
Date of Pricing: 4/21/2016
Price Per Share: $25.00
Preferred Stock Offering Details: Customers Bancorp, Inc. (the "Company") (NYSE: CUBI), the parent company for Customers Bank, today announced the pricing of its public offering of 2,000,000 shares of the Company's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (the "Series E Preferred Stock") at a price of $25.00 per share. The underwriters have been granted a 30-day option to purchase up to an additional 300,000 shares of Series E Preferred Stock from the Company at the public offering price less the underwriting discount. Dividends on the Series E Preferred Stock will accrue and be payable quarterly in arrears, at a fixed rate per annum equal to 6.45% from the original issue date to, but excluding, June 15, 2021, and thereafter at a floating rate per annum equal to three-month LIBOR on the related dividend determination date plus a spread of 5.14% per annum.

Customers Bancorp is a bank holding company. Through its subsidiary, Customers Bank, Co. provides financial products and services to small and middle market businesses, not-for-profits, and consumers. Co. focuses its lending activities on commercial lending, which focuses on business banking, including small and middle market business banking; and consumer lending, which includes local-market mortgage and home equity lending. Co. also provides a variety of deposit products to its customers, including checking accounts, savings accounts, money market deposit accounts and other deposit accounts. At Dec 31 2017, Co. had total assets of $9.84 billion and total deposits of $6.80 billion.

Preferreds: CUBI.PRC, CUBI.PRD, CUBI.PRE, CUBI.PRF


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Name:  Customers Bancorp Inc
Website:  www.customersbank.com
Sector:  Banking & Savings
Number of ETFs Holding CUBI:  40 (see which ones)
Total Market Value Held by ETFs:  $107,074,262
Total Market Capitalization:  $619,000,000
% of Market Cap. Held by ETFs:  17.30%
 

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