WEST READING, PA — Customers Bancorp, Inc. (NYSE: CUBI), the parent company of Customers Bank, held its annual shareholder meeting virtually on Tuesday, May 27, delivering updates and voting on key governance matters.
Shareholders elected three directors to the Board, ratified Deloitte & Touche LLP as the company’s independent auditor for the fiscal year ending December 31, 2025, and approved a nonbinding proposal on the compensation of named executive officers.
“As we reflect on the past year, we are pleased with our progress and excited about the future of Customers Bank,” said Jay Sidhu, Chair and CEO of Customers Bancorp, Inc. “Our unique business model and exceptional customer service have positioned us well in a competitive environment and contributed to ensuring our organization is ‘built to last’ with our commitment to make our customers say ‘wow.’”
Andrea R. Allon and Bernard B. Banks were elected to serve three-year terms expiring in 2028, while Daniel K. Rothermel was elected to serve a one-year term expiring in 2026.
The company’s “say on pay” proposal to approve executive compensation garnered shareholder backing. Although nonbinding, the Board and its Leadership Development and Compensation Committee emphasized their commitment to considering shareholder feedback while pursuing best practices for future compensation planning.
“On behalf of the nearly 800 talented team members with whom we have the privilege of working every day, we thank you for your support and investment,” Sidhu added. “As a Bank, we are committed to delivering value to our investors, customers, our team members and the communities where we serve.”
With its ongoing shareholder engagement and emphasis on innovation and customer focus, Customers Bancorp aims to solidify its competitive position and sustain long-term growth.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.