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Quotes delayed 20 minutes
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Strong Buy (3.50 out of 4)
67th percentile
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 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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