BankMobile Names Bob Ramsey as Chief Financial Officer

Senior Industry Executive to Oversee Financial Planning of Largest and Fastest-Growing Mobile-First Bank in the Country

New York, New York, UNITED STATES

New York, NY, Jan. 10, 2019 (GLOBE NEWSWIRE) -- BankMobile, a division of Customers Bank, and America’s largest and fastest-growing mobile-first bank, named Bob Ramsey as Chief Financial Officer. Ramsey joined Customers Bancorp in 2017 serving as Director of Strategic Planning and Investor Relations. In his new role, Ramsey will be responsible for BankMobile’s financial planning and also manage financial risks and financial reporting.

"We are thrilled to promote Bob to Chief Financial Officer at BankMobile,” stated Luvleen Sidhu, President, Co-Founder and Chief Strategy Officer at BankMobile. “Bob joined Customers Bancorp last year and quickly became a valuable part of the team. His leadership and industry expertise will be instrumental in the next phase of BankMobile’s development.”

“I am excited to be joining the BankMobile team to help oversee its financial strategy,” stated Ramsey. “Its success over the last few years has been remarkable and I look forward to helping the team manage its continued growth.”

Prior to joining Customers Bancorp, Ramsey served as senior equity research analyst at FBR Capital Markets, where he covered community banks, regional banks, super-regional banks, consumer finance and fintech companies during his 13-year tenure. He previously worked at Wachovia Securities.

Ramsey is a Chartered Financial Analyst (CFA). He holds a Bachelor of Arts degree in Managerial economics from Hampden-Sydney College and a Master of Business Administration degree from the College of William and Mary.

With 1.8 million customers, BankMobile is in the Top 15 banks in the U.S. in terms of number of consumer checking accounts serviced. BankMobile Disbursements serves more than five million students on nearly 800 campuses nationwide. Additionally, BankMobile has saved college and university students over $114 million* in banking fees since July 2016 versus had they deposited their funds into traditional checking accounts. The bank also provides refund management services to one in every three college students in the country.

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About BankMobile
Established in 2015, BankMobile is a division of Customers Bank and America’s largest and fastest growing mobile-first bank offering checking and savings accounts and personal loans. BankMobile provides an alternative banking experience to the traditional model and is focused on technology, innovation, easy-to-use products and education with the mission of being “customer-obsessed” and creating “customers for life.” The disruptive, multi-partner distribution model, known as “Bank-as-a-Service,” created by the executive team enables BankMobile to acquire customers at higher volumes and substantially lower expense than traditional banks. Its low-cost operating model enables it to provide low-cost banking services to low/middle-income Americans who have been left behind by the high-fee model of “traditional” banks. Today, BankMobile provides its “Bank-as-a-Service” platform to colleges and universities and currently serves nearly two million account-holders at nearly 800 campuses (covering one out of every three students in the U.S.). BankMobile is operating as the digital banking division of Customers Bank, which is a Federal Reserve regulated and FDIC-insured commercial bank. For more information, please visit:

About Customers Bank
Customers Bank is a super-community bank with $10.6 billion in assets as of September 30, 2018, offering commercial and consumer banking services along the I-95 corridor from Washington, DC to Boston; and in Chicago. Commercial products include cash management; commercial and industrial loans; small business loans; SBA government-guaranteed loans; commercial and multi-family real estate loans; and financing for leasing businesses and residential developers.
Customers Bank provides consumer banking services including savings, checking, and money market accounts; certificates of deposit; residential mortgages; and consumer loans. Additional consumer products are marketed by BankMobile, BankMobile Vibe, and Ascent.
Customers Bank is a member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation. Customers Bank is an equal opportunity lender. Customers Bank takes pride in delivering extremely high levels of customer service while charging comparatively very low fees; service that makes our clients say, ''Wow.''
Commercial clients enjoy Single Point of Contact service with one team to handle all banking needs. Some retail bank clients are afforded Concierge Banking® Services that brings banking to them, when and where they need it. Customers Bank is a subsidiary of Customers Bancorp, Inc., a bank holding company with its headquarters located in Phoenixville, Pennsylvania. The voting common shares of Customers Bancorp, Inc. are listed on the New York Stock Exchange under the symbol CUBI.

*According to the CFPB (Consumer Financial Protection Bureau), the average annual cost of a traditional checking account is more than $118 per year. The average annual cost of owning a BankMobile Vibe account is less than $34 per year, for an average annual savings of more than $84 per student per year!




Bob Ramsey, Chief Financial Officer, BankMobile

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