Customers Bank’s Richard Ehst expresses confidence for 2014 on New York City TV talk show
PA, (Jan. 02, 2014) – Richard Ehst, President and Chief Operating Officer for
Customers Bank, whose local Rye Brook branch is located at the Rye Ridge
Shopping Center, 102 South Ridge Street, recently told a roundtable of leading
New York banking executives that he believed 2014 would be another solid year
for Customers Bank as it continues to expand on the foothold it established as
part of its entry into the market last spring.
“We love New York and we have been fortunate to enjoy some success in this marketplace,” said Ehst. “We will continue to invest in New York – in fact, we expect we will do another $1 billion in multi-family lending within the five boroughs of New York in 2014.”
In addition, Ehst noted that as part of its continued growth, Customers Bank also was looking to expand into other real estate asset classes, in particular condominiums.
“We would like to have ten percent of our total book in the condo market, and we are moving in that direction right now,” Ehst said.
“New York is a huge market that creates significant opportunities for any number of sensible lenders,” Ehst told the moderator. “I think there is enough space out there in the market that we can enjoy good relationships without creating undue pricing and conditions, but over the long-term will stand the test of time.”
Ehst was a guest panelist on The Stoler Report, Real Estate Trends in the Tri-State Region, which brings together leading real estate and business leaders for roundtable discussions of topical issues in the world of real estate. The program has been televised by CUNY TV since September, 2003, and is moderated by Michael R. Stoler, President of President of New York Real Estate TV, and a Director at Madison Realty Capital.
The program is scheduled to be broadcast on January 14, 2014, on CUNY TV, Channel 75 (Time Warner Cable) and will air eight times a week. The program is also available on the internet at:
Joining Ehst on the discussion program were Matthew Galligan, President of CIT Real Estate Finance; Jason Pendergist, Head of Commercial Term Lending, East Coast, at JP Morgan Chase; and Michael Slocum, President of Commercial Banking at Capital One Financial Corp.
About Customers Bank
Customers Bank is a community-based, full-service bank headquartered in Phoenixville, Pa., with assets of approximately $3.9 billion. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation (“FDIC”), Customers Bank is an equal housing lender that provides a full range of banking services to small and medium-sized businesses, professionals, individuals and families through offices in Pennsylvania, New York, Rhode Island, Massachusetts and New Jersey. Committed to fostering customer loyalty, Customers Bank uses a High Tech/High Touch strategy that includes use of industry-leading technology to provide customers better access to their money, as well as a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers. Customers Bank is a subsidiary of Customers Bancorp, Inc., a bank holding company based in Wyomissing, Pa. For more information, visit www.customersbank.com. Follow us at www.twitter.com/@CustomersBank
"Safe Harbor" Statement
In addition to historical information, this press release may contain "forward-looking statements" which are made in good faith by Customers Bancorp, Inc., pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. These forward-looking statements include statements with respect to Customers Bancorp, Inc.'s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by or that include the words "may," "could," "should," "pro forma," "looking forward," "would," "believe," "expect," "anticipate," "estimate," "intend," "plan," or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Customers Bancorp, Inc.'s control). Numerous competitive, economic, regulatory, legal and technological factors, among others, could cause Customers Bancorp, Inc.'s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements. Customers Bancorp, Inc. cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management's current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review Customers Bancorp, Inc.'s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K, as well as any changes in risk factors that may be identified in its quarterly or other reports filed with the SEC. Customers Bancorp, Inc. does not undertake to update any forward looking statement whether written or oral, that may be made from time to time by Customers Bancorp, Inc. or by or on behalf of Customers Bank.