Customers Bank, headquartered in West Reading, is expanding to Florida and Texas and extending its presence in the Midwest. The bank will open branches in Orlando, Dallas, and Chicago, according to a release.
Customers Bank specializes in serving the needs of small and medium business enterprises with revenue from $5 million and $100 million. Products and services include financing for working capital, owner-occupied real estate and investment real estate.
The bank’s teams have industry expertise in such areas as financial and investment management; property management and related associations; medical, dental and veterinary practices; private schools and colleges; transportation and logistics; and financial technology/specialty finance.
To support the Small Business Association’s Paycheck Protection Program, Customers Bank introduced a hybrid financial technology model that enabled the bank to participate in more than 314,000 approved PPP loans worth a total of more than $9.6 billion.
As of March 31, Customers Bank, a subsidiary of Customers Bancorp Inc., had assets of approximately $18.8 billion.