Customers Bancorp closes $100M offering of 6.875% subordinated notes due 2036

Customers Bancorp, Inc.

Offered $100M aggregate principal of 6.875% Fixed-to-Floating Subordinated Notes due 2036 at par.
Net proceeds estimated at ~$98M after underwriting discounts and expenses.
Proceeds for general corporate purposes, including possible partial redemption of Bank's 6.125% notes due 2029.
Underwriters: Keefe, Bruyette & Woods, Piper Sandler & Co., and Raymond James & Associates.
Notes are subordinated and not FDIC-insured; not deposits of the Bank.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Customers Bancorp, Inc. entered into Underwriting Agreement with Keefe, Bruyette & Woods, Inc., Piper Sandler & Co. and Raymond James & Associates, Inc., as representatives of the several underwriters valued at $100,000,000 (effective 2025-12-15).

Action: entry
Agreement: underwriting
Counterparty: Keefe, Bruyette & Woods, Inc., Piper Sandler & Co. and Raymond James & Associates, Inc., as representatives of the several underwriters
Value: $100,000,000
Effective: 2025-12-15

Exact text from the filing

On December 15, 2025, Customers Bancorp, Inc. (the “Company”) and Customers Bank (the “Bank”) completed an underwritten public offering of $100,000,000 in aggregate principal amount of its 6.875% Fixed-to-Floating Rate Subordinated Notes due 2036 (the “Notes”) pursuant to an Underwriting Agreement (the “Underwriting Agreement”), dated as of December 15, 2025, among the Company, the Bank and Keefe, Bruyette & Woods, Inc., Piper Sandler & Co. and Raymond James & Associates, Inc., as representatives of the several underwriters named therein (the “Underwriters”).

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Customers Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0002039852-25-000199

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