Customers Bancorp Inc | Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C (CUBI.PRC)
This preferred is marked as having been called.
Prospectus excerpt: We are offering 2,000,000 shares of our Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C, par value $1.00 per share, with a liquidation preference of $25.00 per share, which we refer to as the Series C Preferred Stock.
Fixed rate per annum equal to 7.00% from the original issue date to, but excluding, June 15, 2020, and thereafter at a floating rate per annum equal to three-month LIBOR on the related dividend determination date plus a spread of 5.30% per annum.
Customers Bancorp is a bank holding company. Through its subsidiary, Customers Bank, Co. provides a range of loan and deposit banking products and financial services, and other products and services to its commercial and consumer customers. Co. provides a range of lending products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans and installment loans. Co. also provides deposit products, including commercial and consumer checking accounts, non-interest-bearing demand accounts, money market deposit accounts, time deposit accounts and cash management services.