On April 12, 2024, Customers Bancorp, Inc, the parent company of Customers Bank, promoted Philip Watkins to Chief Financial Officer of the Company. Mr. Watkins, age 39, has served as the Chief Financial Officer of Customers Bank since January 2023. He joined Customers Bank in January 2020, where he served in various roles including Head of Real Estate and Head of Digital Lending.

From August 2018 through January 2021, Mr. Watkins was the CFO of Megalith Financial Acquisition Corp. Since 2013, Mr. Watkins also served as Principal of Megalith Capital Management, a real estate focused private equity firm. Mr. Watkins replaces Carla A. Leibold, who had served as Executive Vice President and Chief Financial Officer since November 2018.

Ms. Leibold was notified of her termination from employment with the Company on April 10, 2024, for cause" under her employment agreement for violating Company policy, which termination was effective immediately. Ms. Leibold has disputed the Company's characterization of her separation from the Company.