other material
confidence high
sentiment positive
materiality 0.50
Customers Bancorp authorizes repurchase of up to 497,509 common shares
Customers Bancorp, Inc.
- New buyback plan authorizes up to 497,509 shares over one year from June 26, 2024.
- Previous plan expired Sept 2023 with 497,509 unrepurchased shares; new plan replaces it.
- CEO Jay Sidhu cites CET1 ratio exceeding 11.5% target and TCE/TA approaching 7.5%.
- Repurchases may be via open market, private deals, or 10b5-1 plans; funded with cash on hand.