Customers Bancorp, Inc. Releases 2021 ESG Report

Date:

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WEST READING, Pa., April 20, 2022–(BUSINESS WIRE)–(April 20, 2022) – Customers Bancorp, Inc. (NYSE: CUBI), has released its Environmental, Social and Governance (ESG) Report for calendar year 2021. The report can be reviewed and downloaded from the Customers Bank Investor Relations webpage.

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Reacting to the impact of the global pandemic, Customers Bancorp, Inc. Chairman & CEO Jay Sidhu wrote, “Across the world, we have re-examined and re-defined the concept of a moral obligation between citizens, business, and government. We renewed commitments to one another and a shared purpose. And we agreed to the fundamental principles of integrity, truth, and transparency. In this spirit, I am proud to present to the 2021 Customers Bancorp, Inc. Environmental, Social, and Governance (ESG) Report.”

Among the noteworthy milestones included in the report:

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  • In total, Customers Bank contributed over $4.0 million in 2021 through CRA-eligible donations, charitable donations, community sponsorships, and tax credit programs.

  • In addition to these contributions, Customers Bank made $50.2 million of CRA-qualified investments (mutual funds and small business investment companies) to support affordable housing and economic development within the bank’s footprint.

  • Customers Bank ultimately participated in over 350,000 Paycheck Protection Program (PPP) loans worth more than $10 billion as an originator, funder, servicer, or lending partner. It is estimated that this work may have saved as many as 1 million jobs and tens of thousands of business establishments.

  • The Pennsylvania Housing Finance Agency (PHFA) recognized Customers Bank as a top-10 producing lending partner across the state in 2021 for completing 241 mortgages totaling $35,197,654.

  • Customers Bank in 2021 financed over $40 million of hydroelectric, solar, and low emission domestic natural gas energy projects.

  • Customers Bank’s SBA/Government Guaranteed Lending team ranked 36th in the nation in 2021 with $56,203,300 in loans to qualifying small businesses.

Corporate Overview

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Customers Bancorp, Inc. (NYSE:CUBI) is a bank holding company located in West Reading, Pennsylvania engaged in banking and related businesses through its bank subsidiary, Customers Bank, a full-service bank with $19.6 billion in assets at December 31, 2021. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking and lending services to small and medium-sized businesses, professionals, individuals, and families. Services and products are available wherever permitted by law through mobile-first apps, online portals, and a network of offices and branches. Customers Bank provides blockchain-based digital payments via the Customers Bank Instant Token™ (CBIT) which allows clients to make real-time payments in US dollars, 24 hours a day, 7 days a week, 365 days a year.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220420005030/en/

Contacts

David Patti, Communications Director 610-451-9452



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