Customers Bancorp to Price Public Offering of Preferred Stock

Customers Bancorp, of which Mr. Bhanu Choudhrie is a director, announced the pricing of its public offering of 2,000,000 shares of the Company’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, the “Series C Preferred Stock” at a price of $25.00 per share. The promoters have been given a 30-day option to purchase additional shares up to 300,000 of the Preferred Stock from the Company at the public offering price minus the underwriting discount. Dividends on the Series C Preferred Stock will accrue and be payable quarterly in deficits, at a fixed rate of 7.00% per annum from the original issue date to, excluding June 15, 2020, and thereafter at a floating rate per annum equal to three-month LIBOR on the related dividend determination date plus a spread of 5.30% per annum.

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With the offering expected to close on May 18, 2015, subject to customary closing conditions; the Company intends to receive net proceeds of $48,425,000 from the offering or even $55,688,750 (after deducting the underwriting discount) if the underwriters exercise their option and purchase the additional shares. According to plan, approximately one-half of the net proceeds will be contributed to Customers Bank and Customers Bancorp will retain half. The Company expects to use the net proceeds for general corporate purposes, which may include working capital and the funding of organic growth at Customers Bank.

The Company also intends to list the shares of this C Preferred Stock on the New York Stock Exchange under the symbol “CUBIPrC.” If approved for listing, trading of the Series C Preferred Stock on the New York Stock Exchange is expected to commence within 30 days after the shares are first issued.

Morgan Stanley & Co. LLC and UBS Securities LLC are acting as joint book-running managers for the offering. Janney Montgomery Scott LLC is acting as co-manager. A shelf registration statement on Form S-3 (File No. 333-188040) relating to the offering was filed previously with the Securities and Exchange Commission (“SEC”) and is effective. An introductory prospectus supplement related to the offering has also been filed with the SEC. Copies of the shelf registration statement (including the base prospectus), the introductory prospectus supplement and other documents that the Company has filed with the SEC and incorporated by reference into the registration statement are available at nil charges if you visit EDGAR on the SEC’s website located at www.sec.gov. A final prospectus supplement will be filed with the SEC and will be available on its website soon. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained, when available, by contacting: Morgan Stanley & Co. LLC (Tel: 866-718-1649) or UBS Securities LLC (Tel: 888-827-7275). This announcement further shall not constitute an offer to sell or the solicit an offer to buy any securities of the Company, nor shall there be any offer or sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Villa Azur: The Place To Be in Miami

Three quarters of a century since the Art Deco revolution, Miami remains the hotspot for tourism —as one of the trendiest, flashiest tourist destinations across the globe. Beyond the lures of deep sea beaches and tireless nightlife, it holds multiple enticements for everyone. Thaw it out with its warm and welcoming tropical weather and savour the azure skyline reclining on white sand at premium beach-side properties, or indulge in some wining and dining –the options lay galore. But in case you are dwelling upon the latter, Villa Azur is what you’re seeking.

A premium hospitality venture of Bhanu Choudhrie’s C&C Alpha Group, Villa Azur is an elegant gourmet restaurant showcasing cuisines from Southern France and Italy. This refreshing change in the dining scene at South Beach is liberally sprinkled with celebrity pixie dust; stars like Halle Berry and Gerard Butler are often spotted at Villa Azur. The tasteful interiors, with its iconic pastel shades and neon lights, further augment the restaurant’s magical charm.

A creation of stellar designer François Frossard, the framework of this classic restro bar is designed with a line of beautiful villas along the French Riviera while subtly incorporating the essential vitality of Miami air. An eclectic mix of vintage and modern motifs exude a chic elegance that’s warm and welcoming.

Their bar-cum-lounge spans the indoor area, which consists of a fireplace, reading space, bookshelves and a comfortable seating, lending it a relaxed air. But the addition of a DJ booth, where international DJs perform regularly, electrifies the ambient mood in a flash. A French door on the other side opens to a leafy, lushly landscaped courtyard patio that is sure to leave you mesmerised. 

In the kitchen, Executive Chef Erwin Mallet ensures you savour the best of the indigenous flavours from France and Italy. With a harmonious blend of the old and the new, he seeks to present tantalising fusion haute cuisine. Delicacies like Dover Sole, Pork Tenderloin slow braised in red wine and orange zest & Truffle French Raviolis add a homely comfort to his menu. Moreover, the list of elixirs is also long and tempting. With an in-house wine cellar, food can be paired with the choicest of wines, or with signature cocktails on the restaurant’s menu. When you visit Villa Azur, it’s all about opulence, gastronomic indulgence, comfort, and lively, groovy raves.

About the Company

C&C Alpha Group is a prominent investment banking firm with ventures spanning various domains such as aviation, hospitality, and healthcare, across the globe. With its headquarters in London, the Bhanu Choudhrie led company has a proven track record in incubating and turning around businesses and especially take hospitality ventures up the ladder of success. Moti Mahal in London, Shanti Maurice in Mauritius, and Nira Caledonia in Edinburgh are some other notable hospitality ventures of the group.

Customers Bank Revolutionizes Effortless Banking With A Fee-Free Mobile Bank

In a first, Customers Bank, a subsidiary of Customers Bancorp. Inc., announced the first-phase launch of it’s branchless, purely mobile and tablet based banking platform, BankMobile. Launched officially in a press event held on January 14th at The Harvard Club New York, BankMobile is also the first ‘fee-free’, fully functional banking app.

Speaking at the event, Lavleen Sidhu, Chief Strategy & Marketing Officer, BankMobile said, “We are thrilled to officially launch BankMobile.” She further asserted, “We are here to revolutionise banking, to help those who have often been victimised by the industry through excessive fees and we will always be a bank built by, and for, the people.”

True to its motto, BankMobile waives off any additional fee applicable on traditional banking services. Loans are charged, but the rates are substantially lower than market standards—thanks to its innovative branch-free structure that levies lower operating costs. Moreover, to further grant financial cognizance to its consumers, BankMobile also offers access to a personal banker and free financial counsel. 

BankMobile sports the following three features for current use: free checking account, savings account and unsecured line of credit of up to $5,000. However, the bank will continue working toward their core philosophy of delivering economical and effortless banking solutions. The latest item on their agenda is the app’s second phase, which is due to release shortly.

Phase two of BankMobile is expected to include text and video customer service chats, pre-approved auto loans and the ability to search and buy cars nearby.

BankMobile further entails the following unique propositions, which Director Bhanu Choudhrie, along with all those at Customers Bank, hope would transform the banking industry and make it more customer-centric:

• Banking experience, which fits the palm of the hand along with free financial advices from professionals.

• High rates of interest on saving accounts that are at least 0.25% higher than those offered by the four largest banks in the United States.

• Access to a nationwide network of 55,000 fee-free ATMs, and reimburse the customers the cost of ATM surcharges.

• Fee-Free banking and a freedom from overdraft fees.    

Nira Alpina: A luxury retreat in the Alps

For all those who love snow-capped peaks, the unique location of the premium Ski-in & Ski-out resort, Nira Alpina, is just perfect. Situated in the foothills of Mt. Corvatsch in the surreal Engadine, Nira Alpina promises a breath-taking view of the Alps and a sparkling Silvaplana Lake at 1870 m. of altitude.

A 70-room timber and glass low-rise, the hotel’s simplistic yet modish façade flawlessly blends in with the pristine surrounds. The alpine-esque interiors are encrusted with timber and Italian stone, effortlessly spelling out comfort and style. The terraced construction crafted by Architect Guido Tschvor presents a luxurious Alpine resort, which allows each of its rooms to sport a balcony or a terrace overlooking an arresting vista. So whether you love waking up to a spectacular morning view of sun-bathed snow peaks, or witnessing a stunning twilight when lights go on all over the valley, your stay at Nira Alpina has a lot to offer.

The Nira Alpine hotel is connected to the Corvatsch cable car station via a private walkway, offering direct passage from pillow to peak. Other activities here include polo, cross-country skiing, and an arduous trek for adventure lovers.

There is a bouquet of options for dining at the hotel. Featuring three in-house restaurants—one of which sports an alfresco setting—along with a dedicated bakery, you can tuck in traditional Italian fare or relish gourmet dishes from around the world. The hotel is also home to various wellness and R&R facilities:  5 treatment rooms, sauna, a spacious steam bath, Swiss spa with all the modern paraphernalia, Arabian-style Rasul bath, whirlpool, state of the art gym facility, and rooms to relax, where you can shrug off the day’s fatigue. Thus, within the cossetting confines, winter or summer, you will find plenty of activities to keep yourself entertained—their warm and welcoming ambiance is of course complimentary.  

Nira Alpina, part of Nira Hotels, is a subsidiary of Shanti Hospitality, the hospitality wing of C&C Alpha Group which is a London based private equity firm with Bhanu Choudhrie as the Executive Director. The company has varied interests in hospitality, aviation, healthcare and Real Estate utilities across the world.

BankMobile: America’s First and Only No Fee Mobile Bank

Customers Bank (NYSE:CUBI), the banking subsidiary of Customers Bancorp, Inc. officially launched the first phase of its free mobile and tablet banking platform, BankMobile. Established in 2014, BankMobile is an independent operating digital banking division of Customers Bank, a subsidiary of holding company Customers Bancorp, Inc. based in Wyomissing, Pa. Customers Bank also has notable Directorships including Bhanu Choudhrie, who is also a Director at C&C Alpha Group, a London based private equity firm.

Introduced in a press conference held at The Harvard Press Club of New York on January 14th 2015, the phase one announced the following three features for use—free checking account, savings account and an unsecured line of credit of up to $ 5,000 depending on the credit score of the individual. 

Announced at the Analyst Day of Customers Bank last year, the launch of BankMobile is touted to be a landmark event in the banking industry. With a second phase, which is proposed to begin in next 60 to 90 days, the app will feature text and video customer service chats, preapproved auto loans and the ability to search and buy cars nearby. 

A bank designed with a focus on tangible lifestyle benefits, such as smartphone-supported mobility, ease of access, and financial confidence, it certainly is one progressive and youthful bank. Conceived with an aim to disrupt the current banking experience to make it more effortless, enjoyable and financially empowering, BankMobile is the first bank to offer all traditional banking services online.

Speaking about BankMobile, Mr Jay Sidhu, CEO of Customers Bank and BankMobile said, “There’s a once in a 100-kind of change taking place in banking right now. BankMobile is the cool, trendy, young bank.” 

Upon the launch, the banking app offers the following exclusive features: 

• A branch experience that fits the palm of hand along with free financial advices from the professionals.

• High rates on saving accounts that are at least 0.25% higher than those offered by the four largest 

        banks in the United States.

• An access to 55,000 fee-free ATMs nationwide, and reimburse the customers the cost of ATM  

        surcharges.

• Multi-layered security checks to protect accounts.

• Access to a line of credit up to $5,000, depending on the credit score of the individual.

• Fee-Free banking and a freedom from overdraft fees.

BankMobile: A New High In Digital Banking

BankMobile, an independent digital banking division of Customers Bank announced its official phase one launch on 14th January 2015. Customers Bank (NYSE:CUBI) is a community-based, full-service banking subsidiary of Customers Bancorp. Inc. that provides a complete range of banking services to all small and medium-sized businesses, professionals, individuals and families through offices based in Pennsylvania, New York, Rhode Island, Massachusetts and New Jersey.

Launched at a press conference organised at The Harvard Club of New York, the first phase of BankMobile sets forth the following three features for current use-- free checking account, savings account and unsecured line of credit of up to $5,000 based on the credit score of the individual.

The second phase, anticipated to roll out in the following 60 to 90 days, will also introduce a set of prominent features like text and video customer service chats, pre-approved auto loans and the ability to search and buy cars nearby.

Exalted at the launch, Ms Luvleen Sidhu, Chief Strategy and Marketing Officer, BankMobile, said “We are thrilled to officially launch BankMobile. We are here to revolutionize banking, to help those who have often been victimized by the industry through excessive fees and we will always be a bank built by, and for, the people.”

All geared up to infuse a new bit of innovation into the banking sector, the Customer Bank’s mobile app proposes the following unique propositions:

• A branch experience that fits the pocket facility, coupled with free financial tips from the experts.

• High rates on saving accounts that are at least 0.25% higher than those offered by the four largest banks in the United States.

• An access to 55,000 fee-free ATMs nationwide, promising to reimburse the cost of ATM surcharges.

• Access to a line of credit up to $5,000, depending on the credit score of the individual.

• Checking, saving and line of credit-- all in one place.

• Negligible interest on the loans.

• Multi-layered security checks to protect the account.

Being a bank that is committed to fostering customer loyalty, Customers Bank has notable directorships, including Bhanu Choudhrie, who is also a Director at C&C Alpha Group, a London based private equity firm.

Experience Branchless Banking with BankMobile

Just a few years back, mobile banking seemed unimaginable. Today, it is a must-have for every smartphone user. While not all banks can branch out across their client spectrum, smartphone users can carry a branch in their pocket at all times.

As mobile banking continues to evolve and change the retail-banking landscape, Customers Bank (NYSE:CUBI) officially launched phase one of BankMobile, its much anticipated free mobile and tablet banking platform. Customers Bank has notable Directorships like Mr Bhanu Choudhrie who is also a Director of C&C Alpha Group, a London-based private equity firm.

First announced during the analyst day of the bank on 14 May last year, ‘Customers’ rolled out the following three features with its first phase--free checking account, savings account and unsecured line of credit of up to $5,000.

Talking about the mobile app during its launch, Mr Jay Sidhu, CEO, Customers Bank and BankMobile, said, “We are here to change this [stalled innovation in banking industry] and bring banking to the 21st century. We will ensure that our customers feel involved in the progress of this bank and are offering them a truly enjoyable banking experience—different from anything they have experienced before”.

In the next phase, which is proposed to begin in 60 to 90 days, the app will feature text and video customer service chats, pre approved auto loans and the ability to search and buy cars online. With a goal to open 25,000 new accounts this year, the bank also expects to open 250,000 accounts over a period of five-years.

Being the first bank to offer all traditional banking services online, BankMobile will give access to the following features:

• A branch experience which fits the palm of hand along with free financial advices from the professionals.

• High rates on saving accounts that are at least 0.25% higher than those offered by the four largest banks in the United States.

• An access to 55,000 fee-free ATMs nationwide, and reimburse the customers the cost of ATM surcharges.

• Multi-layered security checks to protect accounts.

• Access to a line of credit up to $5,000, depending on the credit score of the individual.

• Fee-Free banking and a freedom from overdraft fees.