WYOMISSING, Pa. – Bank Director magazine has awarded Customers Bank high rankings in two categories of the magazine’s 2013 Growth Leaders Ranking list, the bank announced Monday.
Customers Bank received a first place ranking in the core income and net loans/leases category and second place in core non-interest income category.
Banks and thrifts nationwide are ranked according to their percentage growth in four categories – core income, core non-interest income, net loans/leases and core deposits.
“This is a noteworthy distinction, particularly for a regional community bank that started out in 2009 as a $250-million asset bank and in the short time since has grown into nearly a $3.5 billion asset institution,” said Customers Bank Chairman and CEO Jay Sidhu in prepared remarks.
“We are honored to receive this recognition that comes from respected financial industry analysts and is based upon proven performance,” said Sidhu.
Customers Bank moved into the New England market on March 29 when it acquired the New England Division of Flagstar Bank. Customers Bank has its New England regional headquarters in the Textron building in Providence and has a second regional office is in Boston.
The acquisition included 16 Flagstar employees, of which nine are in Providence and seven in Boston.
Customers Bank President Dick Ehst, who is based in the Pennsylvania executive offices, said the bank’s focus in New England is on middle-market companies.