Customers Bancorp Shareholders Approve All Proposals in Online Annual Meeting
Shareholders of Customers Bancorp, Inc. (NYSE:CUBI), parent of Customers Bank, a digital-forward bank and one of the 80 largest banks in the U.S., met in a virtual annual meeting on Tuesday, May 27, electing three directors, ratifying the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ended Dec. 31, 2025, and supporting a nonbinding "say on pay" proposal to approve the compensation of the company's named executive officers.
"As we reflect on the past year, we are pleased with our progress and excited about the future of Customers Bank," said Customers Bancorp, Inc. Chair & CEO Jay Sidhu. "Our unique business model and exceptional customer service have positioned us well in a competitive environment and contributed to ensuring our organization is ‘built to last' with our commitment to make our customers say ‘wow.'"
Two directors, Andrea R. Allon and Bernard B. Banks, were elected to serve a three (3) year term expiring in 2028; and one director, Daniel K. Rothermel, was elected to serve a one (1) year term expiring in 2026.
Shareholders also approved the company's proposal on named executive officer compensation. This proposal is nonbinding on the company, but the Board and its Leadership Development and Compensation Committee value the opinion of shareholders and continue their outreach and study of best practices in consideration of future executive compensation.
"On behalf of the nearly 800 talented team members with whom we have the privilege of working every day, we thank you for your support and investment," said Sidhu. "As a Bank, we are committed to delivering value to our investors, customers, our team members and the communities where we serve."
Institutional Background
Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation's top-performing banking companies with over $22 billion in assets, making it one of the 80 largest bank holding companies in the U.S. Customers Bank's commercial and consumer clients benefit from a full suite of technology-enabled tailored product experiences delivered by best-in-class customer service distinguished by a Single Point of Contact approach. In addition to traditional lines such as C&I lending, commercial real estate lending and multifamily lending, Customers Bank also provides a number of national corporate banking services to specialized lending clients. Major accolades include:
- No. 1 on American Banker's 2024 list of top-performing banks with $10 billion to $50 billion in assets
- No. 72 out of the 100 largest publicly traded banks on the 2024 Forbes Best Banks list
- 2024 Inc. Magazine Best in Business List in the Financial Services Category
- Net Promoter Score of 73 compared to industry average of 41
A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender. Learn more: customersbank.com.
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Jordan Baucum, Head of Corporate Communications, (951) 608-8314