Customers Bancorp (CUBI) in Wyomissing, Pa., has begun a $25 million debt offering.
The $3.8 billion-asset company said Monday that it intends to offer five-year senior notes and that the rate will be determined at the time of pricing. The underwriters, Janney Montgomery Scott and Boenning & Scattergood, will have the option of buying an additional 15% of notes sold.
Customers plans to use the proceeds to fund growth, possibly including acquisitions, it said.
Customers raised $100 million in a stock offering in May. It announced last month that it would invest $51 million in a financial-services firm, Religare Enterprises, that plans to enter the banking market in India.