S&C Represents Underwriters in Customers Bancorp, Inc.’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock Offering

September 16, 2016

S&C advised the underwriters in an SEC-registered offering by Customers Bancorp, Inc. of shares of fixed-to-floating rate non-cumulative perpetual preferred stock, Series F, with a liquidation preference of $25.00 per share. The underwriters purchased additional shares, exercising in part their option to purchase up to an additional 450,000 shares. The offering raised net proceeds of $82,322,500.

Customers Bancorp, Inc., through its wholly owned subsidiary Customers Bank, provides financial products and services, including multi-family and commercial real estate lending, to small businesses, not-for-profits and consumers through its branches and offices in Pennsylvania, New Hampshire, New York, New Jersey, Rhode Island and Massachusetts. Customers Bank also provides liquidity to the mortgage market nationwide through the operation of its loans to mortgage banking companies. Customers Bancorp, Inc. had total assets of approximately $9.7 billion as of June 30.

The S&C team representing the underwriters was led by Ms. Clarkin. Mr. Wang advised on tax matters.