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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Sunday, January 28, 12:51 PM

Slide #136. 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. provides a range of lending products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, small business loans, equipment loans, residential mortgage loans and other consumer loans. Co. also provides deposit products, including checking accounts, non-interest-bearing demand accounts, money market deposit accounts, savings accounts, and time deposit accounts. At Dec 31 2016, Co. had total assets of $9.38 billion and total deposits of $6.85 billion.

Preferred: CUBI.PRC

Open the CUBI Page at Ru Back Packer »

Name: Customers Bancorp Inc
Sector: Banking & Savings
Number of ETFs Holding CUBI: 31 (see which ones)
Total Market Value Held by ETFs: $105,721,856
Total Market Capitalization: $930,000,000
% of Market Cap. Held by ETFs: 11.37%

Open the CUBI Page at Ru Back Packer (in a new window) »

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