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Pennsylvania Housing Finance Agency Names Customers Bank Top Minority Lender for Second Straight Year

Customers Bank's Elsie Maduro honored as PHFA’s top minority originator

Wyomissing, Pa. (April 2, 2019) – Customers Bank, a leading super-community bank with operations in Pennsylvania, District of Columbia, Illinois, New Jersey, New York and New England, is proud to announce that the Pennsylvania Housing Finance Agency (PHFA) has named the Bank as the top minority lender for the second year in row. PHFA ranked Customers Bank ninth out of more than 80 institutions in Pennsylvania in terms of overall volume of originated residential mortgages.

Customers Bank originated $26.5 million dollars in Community Reinvestment Act (CRA) qualified loans to 287 homebuyers through its programs in 2018, of which 138 loans for a total of $11.6 million where PHFA loans. PHFA also named Customers Bank’s Elsie Maduro, Vice President and CRA Mortgage Officer, as the top originator of loans to minority homebuyers in 2018. This marks the second year in a row that Maduro has received this coveted distinction.

"This is a tremendous honor for everyone at Customers Bank and wonderful recognition of our commitment to helping neighbors achieve their dreams of home ownership," said Richard Ehst, President and Chief Operating Officer of Customers Bank. "We are equally excited that Elsie has been recognized by the PHFA for her commitment to making home ownership possible for everyone for a second year in a row."

Customers Bank realizes that every real estate purchase has its own financial characteristics. The Bank offers many mortgage programs to assist everyone from first-time homebuyers to individuals and families looking to buy a dream beach house or mountain getaway.

The Pennsylvania Housing Finance Agency will recognize Customers Bank and Elsie Maduro for their respective accomplishments at the PHFA’s Annual Lender Awards Luncheon this afternoon in Harrisburg, PA.

About Customers Bank

Customers Bank is a super-community bank with $9.8 billion in assets as of December 31, 2018, offering commercial and consumer banking services along the I-95 corridor from Washington, DC to Boston; and in Chicago. Commercial products include cash management; commercial and industrial loans; small business loans; SBA government-guaranteed loans; commercial and multi-family real estate loans; and financing for leasing businesses and residential developers.

Customers Bank provides consumer banking services including savings, checking, and money market accounts; certificates of deposit; residential mortgages; and consumer loans. Additional consumer products are marketed by BankMobile, BankMobile Vibe, and Ascent.

Customers Bank is a member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation. Customers Bank is an equal opportunity lender. Customers Bank takes pride in delivering extremely high levels of customer service while charging comparatively very low fees; service that makes our clients say, "Wow."

Commercial clients enjoy Single Point of Contact service with one team to handle all banking needs. Some retail bank clients are afforded Concierge Banking® Services that brings banking to them, when and where they need it. Customers Bank is a subsidiary of Customers Bancorp, Inc., a bank holding company with its headquarters located in Phoenixville, Pennsylvania. The voting common shares of Customers Bancorp, Inc. are listed on the New York Stock Exchange under the symbol CUBI.

Customers Bank
1015 Penn Avenue
Wyomissing, PA 19610

Richard Ehst
President & COO

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