Customers Bancorp Files 8-K on Stock and Debt
Ticker: CUBB · Form: 8-K · Filed: Jul 1, 2024 · CIK: 1488813
| Field | Detail |
|---|---|
| Company | Customers Bancorp, Inc. (CUBB) |
| Form Type | 8-K |
| Filed Date | Jul 1, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: disclosure, financial-statements, stock, debt
Related Tickers: CUBI
TL;DR
CUBI filed an 8-K detailing stock and debt changes.
AI Summary
Customers Bancorp, Inc. filed an 8-K on June 26, 2024, reporting other events and financial statements. The filing includes details on common stock, Series E Preferred Stock, Series F Preferred Stock, and subordinated debt.
Why It Matters
This filing provides updated information on the company's capital structure, including common and preferred stock, and subordinated debt, which is relevant for investors assessing financial health.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of financial instruments and does not indicate any immediate operational or financial distress.
Key Players & Entities
- Customers Bancorp, Inc. (company) — Registrant
- Pennsylvania (jurisdiction) — State of incorporation
- June 26, 2024 (date) — Date of earliest event reported
FAQ
What specific events are being reported under 'Other Events' in this 8-K filing?
The provided text does not detail the specific 'Other Events' beyond listing it as an item information category.
What is the significance of reporting Series E and Series F Preferred Stock?
Reporting these preferred stock series indicates their status and potential impact on the company's capital structure and shareholder rights.
What is the purpose of including subordinated debt information in this filing?
Including subordinated debt information provides transparency on the company's financing and leverage.
When was Customers Bancorp, Inc. incorporated?
Customers Bancorp, Inc. was incorporated in Pennsylvania.
What is the IRS Employer Identification Number for Customers Bancorp, Inc.?
The IRS Employer Identification Number for Customers Bancorp, Inc. is 27-2290659.
Filing Stats: 589 words · 2 min read · ~2 pages · Grade level 11 · Accepted 2024-07-01 08:35:39
Key Financial Figures
- $1.00 — istered Voting Common Stock, par value $1.00 per share CUBI New York Stock Exchange
Filing Documents
- cubi-20240626.htm (8-K) — 35KB
- a8k070124ex991.htm (EX-99.1) — 12KB
- cubi-20240626_g1.jpg (GRAPHIC) — 66KB
- logo.jpg (GRAPHIC) — 35KB
- 0001488813-24-000069.txt ( ) — 431KB
- cubi-20240626.xsd (EX-101.SCH) — 2KB
- cubi-20240626_def.xml (EX-101.DEF) — 18KB
- cubi-20240626_lab.xml (EX-101.LAB) — 31KB
- cubi-20240626_pre.xml (EX-101.PRE) — 18KB
- cubi-20240626_htm.xml (XML) — 6KB
01 Other Events
Item 8.01 Other Events. On June 26, 2024, the Board of Directors of the Customers Bancorp, Inc. (the "Company") authorized a new common stock repurchase program (the "Share Repurchase Program") to repurchase up to 497,509 shares of the Company's common stock. The term of the Share Repurchase Program will extend for one year from June 26, 2024, unless earlier terminated. Purchases of shares under the Share Repurchase Program may be executed through open market purchases, privately negotiated transactions, through the use of Rule 10b5-1 plans, or otherwise. The exact number of shares, timing for such purchases, and the price and terms at and on which such purchases are to be made will be at the discretion of the Company and will comply with all applicable regulatory limitations. A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Description Exhibit 99.1 Press Release Dated July 1, 2024 ++++++++++++++++++++++++++++++ SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. CUSTOMERS BANCORP, INC. By: /s/ Andrew Sachs Name: Andrew Sachs Title: Executive Vice President - General Counsel and Corporate Secretary Date: July 1, 2024 EXHIBIT INDEX Exhibit Description Exhibit 99.1 Press Release dated July 1, 2024