Customers Bancorp Expands Westward with New Offices in California and Nevada
Customers Bancorp, a banking institution headquartered in West Reading, Pennsylvania, recently announced that it is expanding its footprint into the western United States by opening five new offices. The $24.3 billion-asset company is establishing its presence in Irvine, Sherman Oaks, and Sacramento in California, as well as Reno and Las Vegas in Nevada. These new offices represent the company’s first foray west of the Rocky Mountains.
Strategic Move to Serve High-Opportunity Regions
These new locations indicate Customers’ commitment to being present where their clients are and where opportunities for growth exist. According to the company’s President and CEO, Sam Sidhu, the move aligns with their business strategy and underscores their belief in combining high-tech capabilities with local, high-touch relationships. He emphasized this in a statement, saying, “We are committed to being where our clients are and where opportunity is growing.”
Transforming into a Business Bank with National Capabilities
Customers Bancorp’s new offices in California and Nevada are part of the company’s ongoing transformation from a regional, Mid-Atlantic institution into a business bank with national reach. Prior to this, the company expanded into North Carolina, Chicago, Dallas, and Denver, and they maintain several business lines that operate on a nationwide basis. While the new offices offer both deposit and loan services, they are primarily designed to serve commercial clients.
The Significance of Brick-and-Mortar Offices in Building Relationships
According to Preston Afrank, Senior Executive Vice President at Haberfeld, a bank consulting, sales, and analytics firm based in Lincoln, Nebraska, the opening of new physical branches is a significant trend among banks. He told American Banker, “Banks across the country are trying to figure out how to optimize their branch networks. A lot of these bankers are realizing that brick-and-mortar is the best way for growing new relationships, for the originations along with the cross-selling products.”
Onboarding New Banking Teams to Boost Growth
Aside from opening new offices, Customers Bancorp is also bolstering its workforce. The company has onboarded seven banking teams totaling 30 bankers in the first nine months of 2025. This strategy appears to be paying off as the company reported a 71% increase in its third-quarter net income, which totaled $73.7 million, compared to the same period in 2024. The surge in profitability was attributed to growth in both loans and deposits, partly driven by the production from the new banking teams.
Leadership Transition at Customers Bancorp
Sam Sidhu is set to become the CEO of Customers Bancorp in January, succeeding his father, Jay Sidhu. Commenting on the positive financial results, Jay Sidhu expressed his confidence in the company’s future, saying, “It is exactly these sorts of financial results that gave me the confidence last quarter to announce my transition to Executive Chairman beginning in 2026.”
This expansion of Customers Bancorp is indicative of a broader trend among regional and money-center banks pursuing significant expansion initiatives. As new opportunities arise in high-growth markets, these institutions are strategically positioning themselves to serve a growing number of business owners and entrepreneurs.
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