This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Customers Bancorp Announces $25 Million Senior Notes Offering

WYOMISSING, Pa., July 22, 2013 /PRNewswire/ -- Customers Bancorp, Inc. (Nasdaq: CUBI) ("Customers"), the holding company of Customers Bank, today announced that it has commenced an underwritten public offering of $25 million non-callable five-year senior notes, with interest payable quarterly.  Customers expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the aggregate principal amount of the senior notes sold in the offering, solely to cover over-allotments, if any.  The interest rate and certain other terms of the senior notes and the offering will be determined at the time of pricing.  The offering is subject to market conditions, and there can be no assurance as to whether the offering will be completed, or as to the actual size or terms of the offering.

Customers intends to use the net proceeds from the offering to invest in Customers Bank, fund our organic growth and for working capital and other general corporate purposes.  Customers may also use a portion of the net proceeds to pursue acquisitions or investments in its current and prospective markets.

Janney Montgomery Scott and Boenning & Scattergood, Inc. are acting as joint book-running managers for the offering.

A shelf registration statement relating to the public offering of the senior notes was filed previously by Customers with the Securities and Exchange Commission ("SEC") and is effective.  A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website located at www.sec.gov.  The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained, when available, from Janney Montgomery Scott LLC, Attention: Fixed Income Capital Markets, 1717 Arch Street, Philadelphia, PA 19103 or by emailing prospectus@janney.com; or Boenning & Scattergood, Inc., Attention: Fixed Income Capital Markets, 4 Tower Bridge, 200 Barr Harbor Drive, West Conshohocken, PA 19428, (800) 883-1212 or by emailing prospectus@boenninginc.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Customers, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 +0.12 0.01%
NASDAQ 4,462.9020 +20.2040 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs