(April 20, 2022) - Customers Bancorp, Inc. (NYSE:CUBI), has released its Environmental, Social and Governance (ESG) Report for calendar year 2021. The report can be reviewed and downloaded from the Customers Bank Investor Relations webpage.
Reacting to the impact of the global pandemic, Customers Bancorp, Inc. Chairman & CEO Jay Sidhu wrote, "Across the world, we have re-examined and re-defined the concept of a moral obligation between citizens, business, and government. We renewed commitments to one another and a shared purpose. And we agreed to the fundamental principles of integrity, truth, and transparency. In this spirit, I am proud to present to the 2021 Customers Bancorp, Inc. Environmental, Social, and Governance (ESG) Report."
Among the noteworthy milestones included in the report:
- In total, Customers Bank contributed over $4.0 million in 2021 through CRA-eligible donations, charitable donations, community sponsorships, and tax credit programs.
- In addition to these contributions, Customers Bank made $50.2 million of CRA-qualified investments (mutual funds and small business investment companies) to support affordable housing and economic development within the bank's footprint.
- Customers Bank ultimately participated in over 350,000 Paycheck Protection Program (PPP) loans worth more than $10 billion as an originator, funder, servicer, or lending partner. It is estimated that this work may have saved as many as 1 million jobs and tens of thousands of business establishments.
- The Pennsylvania Housing Finance Agency (PHFA) recognized Customers Bank as a top-10 producing lending partner across the state in 2021 for completing 241 mortgages totaling $35,197,654.
- Customers Bank in 2021 financed over $40 million of hydroelectric, solar, and low emission domestic natural gas energy projects.
- Customers Bank's SBA/Government Guaranteed Lending team ranked 36th in the nation in 2021 with $56,203,300 in loans to qualifying small businesses.
Customers Bancorp, Inc. (NYSE:CUBI) is a bank holding company located in West Reading, Pennsylvania engaged in banking and related businesses through its bank subsidiary, Customers Bank, a full-service bank with $19.6 billion in assets at December 31, 2021. 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™ (CBIT) which allows clients to make real-time payments in US dollars, 24 hours a day, 7 days a week, 365 days a year.