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Customers Bancorp, Inc. (CUBI) Soon to Launch ‘Virtual Bank’

As a bank holding company located in Wyomissing, Pennsylvania, Customers Bancorp is engaged in banking and related businesses through its bank subsidiary, Customers Bank. Customers Bank is a full-service, community oriented bank with assets of approximately $4.0 billion.

A member of the Federal Reserve System and deposits insured by the Federal Deposit Insurance Corporation (“FDIC”), Customers Bank is an equal housing lender that offers a range of banking services to small and medium-sized businesses, professionals, individuals, and families. The company’s offices are in Pennsylvania, New York, Rhode Island, Massachusetts, New Jersey, and Northern Virginia. Committed to cultivating customer loyalty, Customers Bank uses a High Tech/High Touch strategy that includes use of industry-leading technology to provide customers better access to their money, as well as a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies, and consumers.

The company recently announced that it plans to launch one of Americas first virtual banks built on a mobile banking platform. CUBI has purchased rights to the domain “BankMobile.com” and plans to launch this platform in the third quarter of 2014.

“We see a tremendous opportunity for a bank to provide simple and user friendly banking services to consumers and small to medium size businesses that charge no hidden fees whatsoever,” commented Jay S. Sidhu, Chairman and CEO of Customers Bank. “Our research indicates that over 50% of households in the U.S. have not visited a bank branch over the past year. In addition, about 25% of the US population is unbanked or under banked. Our new mobile banking platform will complement our “high touch supported by high tech” and “single point of contact delivery through private bankers” strategies and enhance our ability to serve a wider range of customers.”

For more information about the company visit www.customersbank.com

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