Monday, November 30, 2015

Customers Bank seeks investors for $25M

To fund "organic growth," and maybe acquisitions

Customers Bank seeks investors for $25M

Customers Bank
Customers Bank

Customers Bancorp Inc., the fast-growing Wyomissing-based lender run by Jay S. Sidhu, who built Philadelphia's former Sovereign Bank into the biggest bank based in eastern Pennsylvania, has hired Janney Montgomery Scott of Philadelphia and Boenning & Scattergood of West Conshohocken to sell $25 milion of 5-year, non-callable notes, at an interest rate still to be determined.

The money will fund "organic growth" by Customers, which has nearly $4 billion in assets and branches in metro Philadelphia, Boston and New York. It may also fund new acquisitions, Customers said in a statement. 

We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy: comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
comments powered by Disqus
About this blog

PhillyDeals posts interviews, drafts and updates that Joseph N. DiStefano writes alongside his Sunday and Monday columns and ongoing articles about Philadelphia-area business.

DiStefano studied economics, history and a little engineering at Penn. He taught writing and research at St. Joe’s. He has written for the Inquirer since 1989, except when he left a few times to work at Bloomberg and elsewhere. He wrote the book Comcasted, and raised six kids with his wife, who is a saint.

Reach Joseph N. at, 215.854.5194, @PhillyJoeD. Read his blog posts at and his Inquirer columns at Bloomberg posts his items at NH BLG_PHILLYDEAL.

Reach Joseph at or 215 854 5194.

Joseph DiStefano
Also on
letter icon Newsletter