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Customers Bancorp to offer senior notes

Wyomissing, Pa.-based Customers Bancorp Inc. intends to offer senior notes due 2024.

The company plans to use the net proceeds for general corporate purposes, which may include working capital and the funding of organic growth at unit Customers Bank. The company may also use proceeds to redeem shares of its preferred stock once they become redeemable; repurchase shares of common stock; or fund, in whole or in part, possible future acquisitions of other financial services businesses.

Deutsche Bank Securities and B. Riley FBR are the joint book-running managers of the offering.