Customers Bancorp prices $150 million common stock offering at $68.50

WEST READING, Pa. - Customers Bancorp, Inc. (NYSE:CUBI) announced Thursday the pricing of its previously announced underwritten public offering of 2,189,781 shares of voting common stock at $68.50 per share, raising approximately $150 million in gross proceeds. The offering price comes as the stock trades near its 52-week high of $72.51, following an impressive 42% gain over the past six months.

The bank holding company has also granted underwriters a 30-day option to purchase up to an additional 328,467 shares at the same price, according to a company press release.

Morgan Stanley, Keefe, Bruyette & Woods, and Raymond James & Associates are serving as joint book-running managers for the offering, with B. Riley Securities, D.A. Davidson & Co., Hovde Group, and Maxim Group acting as co-managers.

Customers Bancorp intends to use the net proceeds for general corporate purposes to support organic growth, which may include debt refinancing, share repurchases, preferred stock redemption, regulatory capital investments in subsidiaries, and potential acquisitions.

The offering is expected to close on or about September 5, 2025, subject to customary closing conditions.

Customers Bancorp operates through its wholly owned banking subsidiary, Customers Bank, and has over $22 billion in assets, making it one of the 80 largest bank holding companies in the United States. The company, currently valued at $2.26 billion in market capitalization, maintains a "GOOD" financial health rating according to InvestingPro’s comprehensive analysis, which includes over 30 key financial metrics and exclusive insights available in their detailed Pro Research Report.

The stock offering is being made pursuant to a registration statement on Form S-3 that became effective on September 3, 2025.

In other recent news, Customers Bancorp reported strong second-quarter 2025 earnings, significantly surpassing expectations. The company achieved an earnings per share (EPS) of $1.80, exceeding the forecast of $1.53 and consensus estimates of $1.54. Revenue for the quarter reached $206.31 million, also surpassing projections of $197.19 million. This performance featured a 14 basis point increase in net interest margin, better-than-expected fee income, and lower loan loss provisions. Following these results, Stephens raised its price target for Customers Bancorp to $62 from $55, maintaining an Equal Weight rating. Additionally, Customers Bancorp announced a $150 million common stock offering, with Morgan Stanley, Keefe, Bruyette & Woods, and Raymond James & Associates serving as joint book-running managers. These developments highlight the company’s recent financial and strategic activities.

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