Customers Bancorp Inc. announced the full redemption of its Series E Preferred Stock, consisting of 2,300,000 shares valued at $57.5 million. The redemption, set for June 16, 2025, aligns with the company's strategy to enhance capital efficiency and profitability. The Series E shares, which carried a dividend rate of 9.70%, will be redeemed at $25 per share. This move is expected to increase earnings per share by an annualized 12 cents. After the redemption, no Series E shares will remain outstanding, and dividends will no longer accrue. Holders of record as of May 31, 2025, will receive the final quarterly dividend on the redemption date.
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