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Top related persons:
Michael Perito - 1 Keefe - 1 Perito - 1 Manya Saini - 1 Saeed Azhar - 1 Shailesh Kuber - 1 Richard Chang - 1
Top related locs:
Austin Boston Southern California Chicago New York Bengaluru
Top related orgs:
Customers Bancorp - 1 Deposit Insurance Corporation - 1 Signature Bank - 1 FDIC - 1 Bancorp - 1 Loans - 1 Bank - 1 New York Community Bancorp - 1

Search resuls for: "Customers Bancorp"


7 mentions found


☆ Customers Bancorp acquires $631 mln loan portfolio from FDIC at discount
  + stars: | 2023-06-16 | by ( Manya Saini Saeed Azhar | Manya Saini | Saeed Azhar | ) www.reuters.com   time to read: +2 min
June 16 (Reuters) - Customers Bancorp (CUBI.N) said on Friday it acquired a $631 million venture banking loan portfolio from U.S. regulator Federal Deposit Insurance Corporation (FDIC) at about 85% of the book value. The portfolio belonged to failed lender Signature Bank, which was put under FDIC receivership in March, a source familiar with the matter told Reuters. Customers Bancorp shares rose on the news to their highest level since early March, and were up 3.3% at $30.23 at midday. On March 12, state regulators closed New York-based Signature Bank, marking this year's second high-profile bank collapse sparked by an exodus of depositors seeking higher returns and safer institutions. Following the bank's closure, the FDIC had announced in April the marketing process for the roughly $60-billion loan portfolio retained in receivership from Signature Bank.
Persons: Michael Perito, Keefe, Perito, Manya Saini, Saeed Azhar, Shailesh Kuber, Richard Chang Organizations: Customers Bancorp, Deposit Insurance Corporation, Signature Bank, Reuters, FDIC, Bancorp, Loans, Bank, New York Community Bancorp, Thomson Locations: Austin, Boston, Southern California, Chicago, New York, Bengaluru
☆ TipRanks reveals the top 10 financial sector analysts of the past decade
  + stars: | 2023-05-14 | by ( Tipranks.Com Staff | ) www.cnbc.com   time to read: +10 min
To create this list, TipRanks analyzed every recommendation made by financial sector analysts in the past decade. Top 10 analysts from the financial sector The image shows the most successful Wall Street analysts from the financial sector, in descending order. 3 on TipRanks' top 10 financial analysts list. To create this list, TipRanks analyzed every recommendation made by financial sector analysts in the past decade. 3 on TipRanks' top 10 financial analysts list.
☆ Binance's US arm struggles to find bank to take its customers' cash- WSJ
  + stars: | 2023-04-08 | by ( ) www.reuters.com   time to read: +1 min
April 8 (Reuters) - The U.S. arm of cryptocurrency exchange Binance is struggling to find a bank to handle its customers' cash after the failure of Signature Bank (SBNY.PK) last month, the Wall Street Journal reported on Saturday, citing people familiar with the matter. Previously, the deposits were sent to either Signature Bank or Silvergate Capital Corp (SI.N), both seen as crypto-friendly banks. However, after both failed, the exchange is rushing to find a new banking partner, according to the report. The company has unsuccessfully tried to establish relationships with Cross River Bank and Customers Bancorp Inc (CUBI.N), the report said, adding that banks are reluctant due to concerns over regulatory risk. Reporting by Akanksha Khushi in Bengaluru; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.
☆ Binance's US arm struggles to find bank to take its customers' cash, Wall Street Journal reports
  + stars: | 2023-04-08 | by ( ) www.reuters.com   time to read: +1 min
April 8 (Reuters) - The U.S. arm of cryptocurrency exchange Binance is struggling to find a bank to handle its customers' cash after the failure of Signature Bank (SBNY.PK) last month, the Wall Street Journal reported on Saturday, citing people familiar with the matter. Previously, the deposits were sent to either Signature Bank or Silvergate Capital Corp (SI.N), both seen as crypto-friendly banks. However, after both failed, the exchange is rushing to find a new banking partner, according to the report. The company has unsuccessfully tried to establish relationships with Cross River Bank and Customers Bancorp Inc (CUBI.N), the report said, adding that banks are reluctant due to concerns over regulatory risk. Reporting by Akanksha Khushi in Bengaluru; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.
☆ Banks Step Up to Serve Crypto Firms After Signature, Silvergate Blowups
  + stars: | 2023-03-27 | by ( Alexander Osipovich | Rachel Louise Ensign | Vicky Ge Huang | ) www.wsj.com   time to read: 1 min
Some banks are rolling out the welcome mat for cryptocurrency firms that found themselves in need of banking services after the downfall of two big crypto-friendly lenders, Signature Bank and Silvergate Capital Corp.As crypto companies have scrambled to establish new bank relationships, industry executives say they have received a positive reception from regional banks such as Customers Bancorp ., based in West Reading, Pa., and Fifth Third Bancorp , based in Cincinnati.
☆ Thought last year was bad for crypto? From FTX to Silvergate, the red flags are flying for the year ahead.
  + stars: | 2023-01-06 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +6 min
Those realizations came to head repeatedly in 2022 as crypto hacks and a wintry bear market crescendoed with the collapse of Sam Bankman-Fried's FTX. On a macro level, persistent recession fears make speculative assets such as tokens or tech stocks less enticing. More notable is crypto bank Silvergate's nearly 50% plunge Thursday, and the company's announcement it would cut 40% of its staff. Job cuts at Amazon and Salesforce signal the first necessary step in staging a turnaround for tech stocks. All told, analysts predict layoffs could catalyze a 20% rally for tech stocks in 2023.
☆ U.S. lawmakers press federal banking regulators on the industry’s exposure to crypto after Alameda stake in bank comes to light
  + stars: | 2022-12-08 | by ( Chelsey Cox | ) www.cnbc.com   time to read: +3 min
Top Senate Democrats pressed key banking regulators on possible ties between the industry and digital currency exchanges following the bankruptcy of major cryptocurrency firm, FTX. "Banks' relationships with crypto firms raise questions about the safety and soundness of our banking system and highlight potential loopholes that crypto firms may try to exploit to gain further access." Silvergate Capital Corp., Provident Bancorp Inc., Metropolitan Commercial Bank, Signature Bank, Customers Bancorp Inc. are among several noted banks experiencing heightened volatility after the FTX failure. "Banks' relationships with crypto firms raise questions about the safety and soundness of our banking system and highlight potential loopholes that crypto firms may try to exploit to gain further access to banks," the senators wrote. To better understand the banking industry's exposure to crypto, the senators asked for responses to a roster of questions, including all business relationships between FTX, Alameda and Moonstone, by Dec. 21.
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