WEST READING, PA — Customers Bancorp, Inc. (NYSE: CUBI) is formalizing a long-planned leadership transition, appointing Sam Sidhu to its Board of Directors as the company prepares for a change at the top.
The appointment aligns with a succession framework announced last July that positions Sidhu, currently president of Customers Bancorp and president and chief executive officer of Customers Bank, to succeed Jay Sidhu as chief executive officer of the parent company. Under the plan, Jay Sidhu will retire from the CEO role and assume the position of executive chairman, while continuing his long-standing service on the board.
Company leaders said Sidhu’s addition to the board strengthens continuity and governance as the organization advances its long-term strategy. Sidhu has been deeply embedded in the institution’s growth for more than a decade, first joining the Customers Bank board in 2012. He was named chief operating officer of Customers Bank in 2020 and promoted to president and CEO of the bank in 2021.
“Sam has demonstrated outstanding leadership and strategic vision throughout his tenure with Customers Bancorp and Customers Bank,” said Dan Rothermel, lead independent director of Customers Bancorp. “His appointment to the Board formalizes his integral role in shaping the future of our organization and reinforces the thoughtful succession planning the Board and management have executed.”
The transition marks a milestone for a bank built from modest beginnings into a national financial institution. Jay Sidhu founded Customers Bank and Customers Bancorp by investing in a small Chester County-based institution, guiding it from a distressed bank with roughly $200 million in assets to an organization exceeding $24 billion in assets — without any material acquisitions.
“I’m deeply grateful to our Board of Directors for their trust and partnership as we continue this leadership transition,” Sam Sidhu said. He pointed to a disciplined culture and organic growth strategy as hallmarks of the bank’s success and said he looks forward to continuing to lead Customers Bank while working closely with the board.
Jay Sidhu said the transition reflects years of deliberate planning and confidence in the next generation of leadership.
“I am incredibly proud of what we have built at Customers Bancorp and Customers Bank,” he said. “Sam has been instrumental in shaping our strategy, strengthening our culture, and positioning the Bank for the future. I have full confidence in Sam’s leadership and vision.”
With the board appointment complete and the executive transition approaching, Customers Bancorp is signaling stability to investors and clients alike as it enters its next phase under a carefully orchestrated leadership handoff.
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