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Bank holding company Customers Bancorp sets terms for $100 million US IPO

By Renaissance Capital,  May 01, 2012, 12:06:28 PM EDT

Customers Bancorp, a bank holding company, formerly known as New Century Bank, with 14 branches in the eastern Pennsylvania area, announced terms for its IPO on Tuesday. The Wyomissing, PA-based company, which also operates a mortgage warehouse business, plans to raise $100 million by offering 7.1 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Customers Bancorp would command a market value of $226 million. Customers Bancorp, which was founded in 1994 and had total assets of $2 billion as of 12/31/2011, plans to list on the NASDAQ under the symbol CUBI. Macquarie Capital and Keefe, Bruyette & Woods are the joint bookrunners on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, IPOs

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