Customers Bank Enters the Carolinas
Introduces New Commercial Banking Team Based in Wilmington, NC
Wilmington, NC. (December 6, 2021) – Customers Bank, a digital forward bank with nearly $20 billion in assets, is expanding its national network by introducing a commercial banking group based in Wilmington, North Carolina. The Wilmington banking team will offer the full spectrum of Customers Bank’s services to commercial clients throughout the Carolinas.
“Wilmington, North Carolina has numerous similarities to our other markets, in that it has a strong community supported by personal relationships among small and medium business owners who are committed to strengthening the region,” stated Sam Sidhu, President and Chief Executive Officer of Customers Bank. “Our model of offering high tech capabilities supported by local bankers empowered to make decisions has proven to be very successful, and will benefit commercial clients throughout the Carolinas.”
The Wilmington team will serve businesses and their principals. Brad Neigel, Regional President of Banking for the Carolinas at Customers Bank, will be responsible for directing Customers Bank’s local team to provide exceptional service and value through the bank’s high-tech, single-point-of-contact banking model that delivers memorable customer experiences and establishes long-term relationships.“We are not trying to be all things to all people. Our strategic approach is to partner with businesses and provide access to increased capital and capacity for larger, middle-market businesses,” stated Neigel. “Our team is heavily focused on supporting the region’s economic growth and being a good corporate citizen. We plan to actively support the community and work closely with nonprofits and other organizations in the community that foster economic growth, prosperity, and opportunity for all members of our community.”
Customers Bank differentiates its services by being able to handle much larger transaction sizes than most local community banks, up to $120 million. The support of a local market executive empowered to make decisions provides a strategic advantage over other banks in the region and providers greater convenience and faster decisions to clients.
Wilmington will serve as the launching point into the Carolinas as the bank makes a more significant impact throughout the region. Customers Bank’s depth of expertise spans across a multitude of industries. The Wilmington banking team will focus on privately owned businesses generating between $5 million and $100+ million in revenue that need assistance in working capital financing, owner-occupied mortgage financing or investment real estate financing. The team will also assist companies that need sophisticated treasury management solutions for their cash management needs. The local banking team will also look to support the capital and financial needs of businesses of all types that are looking to relocate or expand their presence in the area, as well as mature, well-established companies that are seeking enhanced services from a bank that prides itself on delivering exceptional experiences that “wow” customers.
“Customers Bank’s decision to establish and invest in Greater Wilmington adds further evidence that our region is well-positioned for a healthy economic future,” said Wilmington Business Development CEO, Scott Satterfield. Customers Bank recognizes the significant growth opportunities that are occurring in the Wilmington market, with businesses being drawn to the exceptional quality of life that Wilmington offers to business owners and their employees coupled with the convenience large metropolitans provide, such as an International Airport, NC State Port, highly rated higher education institutions, excellent healthcare, diverse industry presence, and a very positive economic outlook. Many of these amenities are the same components that attracted Customers Bank to Wilmington. As the region continues to attract businesses across several high-growth industries, such as fintech, specialized manufacturing, storage logistics, pharma, healthcare, entertainment, and destination hospitality, Customers Bank is excited about being in a position to assist these businesses with achieving their full potential.
Earlier this year, the bank launched commercial banking offices in Orlando, Florida; Dallas, Texas; and increased its presence in the Midwest, based in Chicago, Illinois. The bank also earned national recognition for its commitment to supporting small businesses across the nation by providing more than 320,000 SBA PPP loans with an aggregate value of $9.6 billion. The bank recently launched a blockchain-based real-time payments service for commercial clients that enables instant transactions through the bank’s branded Customers Bank Instant TokenTM (CBIT).
To learn more about Customers Bank and its products and services, visit www.customersbank.com.
About Customers Bank
Customers Bank is a full-service bank with $19.1 billion in assets at September 30, 2021, and a wholly owned Customers Bancorp, Inc. (NYSE:CUBI). A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking and lending services to small and medium-sized businesses, professionals, individuals, and families. Services and products are available wherever permitted by law through mobile-first apps, online portals, and a network of offices and branches. Customers Bank provides blockchain-based digital payments via the Customers Bank Instant Token (CBITTM) which allows clients to make real-time payments in US dollars, 24 hours a day, 7 days a week, 365 days a year. More at www.customersbank.com.