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Customers Bank Announces Leadership Changes in its Private & Commercial Banking Division in the New York Metro Market

WYOMISSING, PA / ACCESSWIRE / February 7, 2019 / Customers Bank (NYSE: CUBI), a leading super-community bank with operations in Pennsylvania, District of Columbia, Illinois, New York, New Jersey and New England, announced today changes in leadership of its Private and Commercial Banking Division.

Effective immediately, Lyle P. Cunningham has been named Executive Vice President, Managing Director & Market President - NY Metro, Chicago & Washington, D.C. & Specialty Finance. He will also become a member of the bank's Office of the Chair. Cunningham most recently served as Managing Director of Specialty Lending, a role in which he will continue.

As a member of the Office of the Chair, Cunningham will work directly with Jay Sidhu, Chairman and Chief Executive Officer; Richard Ehst, President and Chief Operating Officer; and other bank leaders to drive the planning and implementation of Customers Bank's long- and short-term strategies, while overseeing daily operations across the Bank's geographic footprint.

Eugene M. (''Gene'') Kennedy, III has been named NY Market Executive. He will oversee daily operations of the NY Metro banking groups and the Rye Brook branch. Kennedy will report to Cunningham.

''Lyle and Gene contributed significantly to the bank's growth and success,'' said Sidhu. ''Their team work will allow us to continue to grow in metro markets delivering banking services to our commercial and private banking clients. Their talents and leadership will enable us to grow earnings and increase shareholder value.''

About Lyle P. Cunningham

Cunningham has more than 30 years of banking and finance experience. He joined Customers Bank in March 2014 after spending more than five years as the Managing Director of the CMS Mezzanine Fund, providing mezzanine debt to finance private equity sponsored buyouts, non-sponsored buyouts, growth capital and acquisition financing. Cunningham worked previously in senior positions for National City Bank and CoreStates Bank (now Wells Fargo). Cunningham is a graduate of The Pennsylvania State University.

About Eugene M. (''Gene'') Kennedy, III

Kennedy joined Customers Bank in February 2014 as the Banking Group Head for one of the NY Metro Division's teams. He came to Customers Bank from First National Bank of New York where he was an Executive Vice President and Chief Lending Officer. Previously he worked for nearly 13 years in a series of increasingly significant roles with J.P. Morgan Chase. Kennedy earned an MBA from the The Anderson School of Management at the University of California, Los Angeles. He graduated from Trinity College-Hartford.

About Customers Bancorp, Inc. and Customers Bank

Customers Bank is a super-community bank with almost $10 billion in assets, 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 as 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.


Richard Ehst, President & COO
[email protected]

SOURCE: Customers Bancorp, Inc.

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