Updated July 29 at 11:29am

Customers Bancorp increases senior notes offering

Customers Bancorp Inc, the parent company of Customers Bank, announced the pricing Thursday for its previously-announced five year senior notes.

To continue reading this article, please do one of the following.



Enter your email to receive Providence Business News' e-newsletters
and breaking news alerts.  

Banking

Customers Bancorp increases senior notes offering

Posted:

WYOMISSING, Pa. – Customers Bancorp Inc, the parent company of Customers Bank, announced the pricing Thursday for its previously-announced five year senior notes. The $55 million offering more than doubles the planned $25 million offering initially announced.

In a release, the company said it plans to use proceeds from the notes “to invest in Customers Bank, fund organic growth and for working capital and other general corporate purposes.” Customers expects about $52.6 million in net proceeds from the sale, according to the release.

Customers Bank moved into the Rhode Island market with the March 29 acquisition of the regional business of Flagstar Bank. Customers Bank has regional headquarters in Providence and a second regional office in Boston.

Customers Bank, customers bancorp, senior notes, banking

Comments

No comments on this story | Please log in to comment by clicking here
Please log in or register to add your comment
Latest News