Customers Bancorp, Inc. and Customers Bank, with three branches in the greater Phoenixville area, is gaining regional notice.

The Kroll Bond Rating Agency has initiated coverage on the company with investment grade ratings. KBRA, which is registered with the Securities and Exchange Commission as a nationally recognized statistical rating organization, noted the bank has improved asset quality, earnings performance and efficiency ratios.  KBRA also recognized the bank’s innovative business model and management team. A full copy of the report is here.

“It is a tremendous accomplishment of this management team to build an investment grade financial services company from the ground up in only five years,” said Jay Sidhu, chairman and CEO of Customers Bancorp, Inc. “This ratings announcement is validation by a qualified independent third-party of customers’ progress and current status. We are committed to continuously improving our performance and our value proposition to our investors.”

WFMZ TV of eastern Pennsylvania also recognized the bank for donating $2 million to the Wyomissing-based Community First Fund.  The nonprofit community lending program helps finance worthy projects which wouldn’t normally qualify for commercial loans.  The fund serves 13 counties in Pennsylvania. See the story here:  http://www.wfmz.com/news/news-regional-berks/customers-bank-invests-2-million-in-fund-for-loans-to-small-businesses/25501778

Customers Bank also recently appointed Luvleen Sidhu as chief strategy officer of the company’s BankMobile, which will launch in September.

“Many of my peers, colleagues and friends are overburdened with debt, and that is true for millennials throughout the country,” said Sidhu. “BankMobile is offering a solution: a bank with absolutely no fees, higher rates and no minimum balances. We are beginning what we consider a revolution that will disrupt the traditional banking landscape.”

While BankMobile’s initial target audience will be the millennial generation, the company plans to offer its product to other segments of the population over time. After launching in September, BankMobile will roll out its products in tiers through the first quarter of 2015.

Luvleen Sidhu was most recently a management consultant at Booz & Co., in their financial services practice. She has a master of business administration  degree from The Wharton School at the University of Pennsylvania and a Bachelor’s degree in government from Harvard College.

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Top image courtesy of businessweekly.readingeagle.com