---
schema_version: "secwatch.filing_event.v1"
accession: "0001488813-24-000016"
form_type: "8-K"
ticker: "CUBI"
cik: "0001488813"
company_name: "Customers Bancorp, Inc."
filed_at: "2024-04-12T23:59:59+00:00"
generated_at: "2026-06-03T23:20:15.330939+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Customers Bancorp CFO Carla Leibold terminated for cause; Philip Watkins named successor

## Summary
- Carla A. Leibold terminated as CFO on April 10, 2024 for violating Company policy; she disputes the characterization.
- Philip Watkins promoted to CFO of Customers Bancorp, effective April 12, 2024.
- Watkins had served as CFO of Customers Bank since January 2023 and joined the bank in January 2020.
- No material changes to Watkins' compensation or new plans/grants in connection with the appointment.
- Watkins previously served as CFO of Megalith Financial Acquisition Corp (NYSE: MFAC) until January 2021.

## SEC filing metadata
- accession: 0001488813-24-000016
- form_type: 8-K
- ticker: CUBI
- cik: 0001488813
- company_name: Customers Bancorp, Inc.
- filed_at: 2024-04-12T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1488813/000148881324000016/0001488813-24-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1488813/000148881324000016/cubi-20240410.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001488813-24-000016
- JSON: https://secwatch.observer/filing/0001488813-24-000016.json
- Plain text: https://secwatch.observer/filing/0001488813-24-000016.txt

## Key facts
- Executive change
  Philip Watkins was appointed as Chief Financial Officer of the Company at Customers Bancorp, Inc..
  - Action: promoted
  - Role: Chief Financial Officer of the Company
  source text: On April 12, 2024, Customers Bancorp, Inc (the "Company"), the parent company of Customers Bank, promoted Philip Watkins to Chief Financial Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1488813/000148881324000016/0001488813-24-000016-index.htm
- Executive change
  Carla A. Leibold was terminated as Executive Vice President and Chief Financial Officer at Customers Bancorp, Inc..
  - Action: terminated
  - Role: Executive Vice President and Chief Financial Officer
  source text: Ms. Leibold was notified of her termination from employment with the Company on April 10, 2024, for "cause" under her employment agreement for violating Company policy, which termination was effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1488813/000148881324000016/0001488813-24-000016-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.