-
Customers Bancorp in Wyomissing, Pa., is looking to raise $75 million in a stock sale and intends to use the proceeds to fund organic growth and acquisitions.
May 10 -
In an eventful earnings announcement, the company also reported a big jump in profits and disclosed more details about a fraud scheme perpetrated by a warehouse-lending partner.
April 11
Customers Bancorp in Wyomissing, Pa., is bumping up the size of its stock sale by more than 20%
Less than a week after announcing that it planned to raise $75 million in a public offering, Customers said in a
The offering is expected to close on May 21. FBR Capital Markets is underwriting the offering and Sterne Agee and Boenning & Scattergood are acting as co-managers.
Customers, which expects to net roughly $85 million after expenses and underwriting fees, has said it may use the proceeds to fund acquisitions. Customers has bought three banks since 2010, though its planned acquisition of Acacia Federal Savings Bank in Falls Church, Va., was
Customers' shares began trading on the Nasdaq under the symbol CUBI Thursday and by late afternoon they were up more than 4% over Wednesday's close. Until Thursday the shares traded over the counter.
