Vice Chairman & Chief Operating Officer
Sam Sidhu joined the board of Customers Bancorp in 2012 and became a fulltime officer of the Bank early in 2020. Shortly after joining the company’s leadership team, the world and nation were rocked by the explosion of the COVID-19 pandemic. As the United States reeled from a sudden economic collapse, the federal government quickly put together the Paycheck Protection Program designed to deliver quickly loans to small businesses so they could retain employees with salaries and health benefits. While Customers Bank was very successful using its Single Point of Contact model to deliver PPP Loans to its existing business climates, Sam Sidhu recognized the service delivery model would not scale sufficient to the needs of the national crisis. Sam used his connections on Wall Street and throughout the financial and technical worlds to assemble a team of fintechs – companies that use advanced technologies to deliver financial services to consumer and commercial clients – that could work with Customers Bank to deliver PPP Loans to firms in need across the United States. By the end of July 2020, Customers Bank, under Sam Sidhu’s leadership, issued more than 100,000 PPP Loans with an aggregate value of more than $5.4 billion, making the Bank the 6th highest lender by loan number in the nation. Just as importantly, with an average loan of just over $52,000 – the second smallest average loan size among the nation’s leading PPP lenders – Customers Bank ensured the money went to the Main Street firms that needed it most.
Prior to joining Customers Bank fulltime, Sam Sidhu was the founder and CEO of Megalith Capital Management, a real estate focused private equity firm making investments primarily in New York City. The firm’s integrated platform specialized in the acquisition, repositioning, development, and management of residential, commercial, and mixed-use properties. Prior to co-founding Megalith, he worked in private equity with Providence Equity Partners and investment banking with Goldman Sachs. Sidhu holds a BA from the Wharton School of Business at the University of Pennsylvania and an MBA from the Harvard Business School.