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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Fri., Apr. 29, 11:52 AM

Slide #9. Customers Bancorp, Inc. Secondary 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
Secondary 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 (the Bank), Co. provides financial products and services to small businesses, not-for-profits, and consumers. Co. provides a range of loan and deposit banking products and financial services and non-traditional products and services to its commercial and consumer customers. The Bank also provides a range of deposit products to its customers, including checking accounts, savings accounts, money market deposit accounts and other deposit accounts. At Dec 31 2014, Co. had total assets of $6.83 billion and total deposits of $4.53 billion.

CUBI SEC Filing Email Alerts Service

Preferred: CUBI.PRC

Open the CUBI Page at The Online Investor »

Company Name:  Customers Bancorp Inc
Stock buyback:  CUBI buyback
Sector:  Banking & Savings
Number of ETFs Holding CUBI:  23
Total Market Value Held by ETFs:  $23.71M
Total Market Capitalization:  $707.00M
% of Market Cap. Held by ETFs:  3.35%

Open the CUBI Page at The Online Investor (in a new window) »

April 29, 2016    11:52 AM Eastern
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Strong Buy (3.50 out of 4)
66th percentile
(ranked higher than approx. 66% of all stocks covered)
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