Customers Bank seeks investors for $25M

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.