WYOMISSING, PA--(Marketwired - April 30, 2014) - For the second year in a row, Customers Bancorp, Inc. (CUBI) has achieved No. 1 status in a national performance ranking conducted by Bank Director magazine. The ranking appears in the publication's second quarter edition.
The 2014 Growth Leaders Ranking ranks U.S. banks, thrifts and savings on four separate metrics or categories that capture the most important aspects of an institution's financial growth: Core revenue, core deposits, net loans and leases and noninterest income. Customers Bancorp finished first in core revenue, a metric that is considered the most important since it is inclusive of the other three, according to Bank Director magazine.
Core revenue is defined as net interest income plus noninterest income, excluding available-for-sale gains and losses and other-real-estate-owned gains and losses.
The analysis was performed by Bank Intelligence Solutions, a division of Fiserv Inc., using call report data for the first three quarters of 2013.
"Being recognized by Bank Director magazine for the second year in a row is a testament to our customers and our team members," said Jay Sidhu, Chairman and Chief Executive Officer of Customers Bancorp. "We are extremely fortunate to have customers who rely on us for so many products and services. And our team members are the best in the banking industry -- they are dedicated and will do everything in their power to meet the customer's needs.
"We continue to strive to be the best community bank in the nation. This recognition gives us the impetus to reach higher and achieve even greater results."
According to Bank Director magazine, financial institutions that were part of the analysis were both public and private and had at least $1 billion in assets. Overall, there were 699 institutions in the data pool.
The Bank Director article is posted online at:
About Customers Bancorp, Inc. and Customers Bank
Customers Bancorp, Inc. is a bank holding company in Wyomissing, Pa., engaged in banking and related businesses through its subsidiary, Customers Bank. Customers Bank is a community-based, full-service bank with assets of $5 billion. A member of the Federal Reserve System and deposits insured by the Federal Deposit Insurance Corporation ("FDIC"), Customers Bank is an equal housing lender that provides a full range of banking services to small and medium-sized businesses, professionals, individuals and families through offices in Pennsylvania, New York, Rhode Island, Massachusetts, New Jersey, and Northern Virginia. Committed to fostering customer loyalty, Customers Bank uses a High Tech/High Touch strategy that includes use of industry-leading technology to provide customers better access to their money, as well as a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers. BankMobile, a division of Customers Bank, is a purely mobile banking platform scheduled to launch late summer 2014.
Customers Bancorp, Inc. is listed on the NASDAQ exchange under the symbol CUBI. Additional information about Customers Bancorp, Inc. can be found on the company's website, www.customersbank.com.
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