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Customers Bank Hires Kevin D. Gallagher to Lead Small Business Administration Loan Division

WYOMISSING, PA--(Marketwired - August 13, 2014) - Customers Bank has hired Kevin D. Gallagher as Senior Vice President/Small Business Administration (SBA) National Director. Gallagher, a seasoned SBA executive, will oversee a team that will eventually expand throughout the bank's footprint. Gallagher's office is located in Melville, N.Y.

Prior to joining Customers Bank, Gallagher was Senior Vice President, SBA National Sales Director for Citibank, where he was responsible for managing a national SBA sales team of 11 people.

His responsibilities at Customers Bank include creating a national SBA sales team and building on the bank's success of generating new SBA loans by further developing the program in select markets nationally.

Gallagher's hiring comes on the heels of a report issued by the SBA Philadelphia District regarding 7(a) Loan volumes for the period of Oct. 1, 2013 to June 30, 2014. The report reflects Customers Bank's top 10 finish among 85 banks and other lending institutions in the Philadelphia metropolitan region. Customers Bank also finished in the top 10 in the district's report for the period of Oct. 1, 2012 to Sept. 30, 2013.

Prior to working for Citibank, Gallagher served as Vice President at New York Business Development Corporation, where he assisted the Long Island/NY Metro region's small business community by providing business and real estate financing.

Previous to that, he worked at Gallagher Associates, a Long Island commercial mortgage brokerage company, where he was Vice President of Business Development for 10 years. In this position, he was responsible for promoting business development in Long Island by working closely with banks, real estate attorneys, real estate brokers and others in the real estate business.

"With his extensive background in SBA lending and his proven leadership skills, Kevin is a welcome addition to our Customers Bank team," said Richard Ehst, President and Chief Operating Officer of Customers Bank. "We're looking forward to creating a solid SBA lending team under Kevin's direction and establishing a program that will be a go-to loan resource for small businesses throughout our service area."

Gallagher, of Miller Place, N.Y., has received several awards for outstanding SBA loan production during the course of his career.

He received a doctorate and bachelor's degree in law from Laurel University, High Point, N.C., as well as a master's degree in corporate finance and a bachelor's degree in political science, both from Dowling College, Long Island. He is a licensed real estate broker in New York.

Gallagher's professional affiliations include serving as a member of the Advancement for Commerce, Industry and Technology; a member of the Risk Management Association; and a member of the Commercial Industrial Brokers Society.

About Customers Bancorp, Inc. and Customers Bank

Customers Bancorp, Inc. is a bank holding company in Wyomissing, Pa., engaged in banking and related businesses through its subsidiary, Customers Bank. Customers Bank is a community-based, full-service bank with assets of $5.6 billion. A member of the Federal Reserve System and 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. BankMobile, a division of Customers Bank, is a purely mobile banking platform scheduled to launch in 2014.

Customers Bancorp, Inc. is listed on the NASDAQ exchange under the symbol CUBI. Additional information about Customers Bancorp, Inc. can be found on the company's website, www.customersbank.com.

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