cubi-20200707

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instructions A.2. below):


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of each class

Trading Symbols

Name of each exchange on which registered

Voting Common Stock, par value $1.00 per share

CUBI

New York Stock Exchange

Fixed-to-Floating Rate Non-Cumulative Perpetual
Preferred Stock, Series C, par value $1.00 per share

CUBI/PC

New York Stock Exchange

Fixed-to-Floating Rate Non-Cumulative Perpetual
Preferred Stock, Series D, par value $1.00 per share

CUBI/PD

New York Stock Exchange

Fixed-to-Floating Rate Non-Cumulative Perpetual
Preferred Stock, Series E, par value $1.00 per share

CUBI/PE

New York Stock Exchange

Fixed-to-Floating Rate Non-Cumulative Perpetual
Preferred Stock, Series F, par value $1.00 per share

CUBI/PF

New York Stock Exchange

5.375% Subordinated Notes due 2034

CUBB

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 30, 2021, Bhanu Choudhrie resigned from the Board of Directors of Customers Bancorp, Inc. (the “Company”) and Customers Bank, the Company’s wholly-owned subsidiary, effective immediately to pursue other interests. At the time of Mr. Choudhrie’s notice, he was an independent director of the Board. Mr. Choudhrie’s notification did not indicate that there are any disagreements between him and either the Company or Customers Bank in connection with his resignation.

Additionally, on July 7, 2020, the Company and Thomas Jastrem agreed to the terms of Mr. Jastrem’s retirement from service as the Executive Vice President, Chief Risk Officer of Customers Bank effective July 20, 2020. Mr. Jastrem was a "named executive officer" of the Company during 2020. The terms of the agreement included the vesting of 21,064 shares of previously awarded restricted stock units of the Company on October 30, 2020 and the payment of $305,000 in bi-weekly installments for the performance of special advisory services ending on October 30, 2021.

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


Pennsylvania	001-35542	27-2290659
(State or other jurisdiction of incorporation)	(Commission File number)	(IRS Employer Identification No.)


			CUSTOMERS BANCORP, INC.

			By: /s/ Carla A. Leibold
			Name: Carla A. Leibold
			Title: Executive Vice President - Chief Financial Officer