Customers Bancorp in Wyomissing, Pa., plans to sell $50 million in common stock.
The $9.7 billion-asset company disclosed in a regulatory filing Friday that it has entered into an agreement with FBR Capital Markets; Keefe, Bruyette & Woods; and Maxim Group to sell common stock from time to time.
"Sales may be made at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, and subject to such other terms as may be agreed upon at the time of sale," the filing said.
Customers said it would pay the sales agents a commission equal to 2.5% of the gross proceeds from any sale of the shares. The company will also reimburse the sales agents for certain expenses incurred, up to a maximum aggregate of $20,000.