"Jay Sidhu" is the Chairman (chairman) and CEO (chief executive officer) of Customers Bancorp and Customers Bank, a $6.5 billion asset bank with headquarters in Wyomissing, Pennsylvania. Customers Bank currently has 14 branches in suburban Philadelphia, Hamilton, NJ and Rye, NY. Customers Bancorp recently created a new division, [http://BankMobile.com BankMobile], which will allow customers to bank through a fully mobile interface.

Bank Director magazine rated Customers Bank #1 out of all US banks and thrifts two years in a row (2014 and 2013), based on 2 key growth areas, Core Income and Net Loans and Leases. This ranking is based on the first 3 quarters of 2012. Sidhu was named Most Admired CEO by Philadelphia Business Journal in 2014. In 2010, Customers Bank was ranked #4 in the nation out of 3,077 banks by the ABA Banking Journal’s Annual Bank Performance Rankings for “[experiencing] one of the largest year- over-year improvements in earnings performance.” According to the Journal, Customers Bank (formerly named New Century Bank) was ranked #3,002 in 2009 and improved to #4 in 2010.

More Jay Sidhu on Wikipedia.

We are delighted to have these disputes resolved and put behind us. Sovereign has a proven track record of creating more than a 200% increase in shareholder value over the last ten years, and our board, including Ralph Whitworth, our other new director and the Santander and Independence Community Bank representatives, will work together to continue to deliver superior value going forward.

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Due to the prolonged flatness to slight inversion in the yield curve, the company is focused on stabilizing our net interest margin, controlling expense growth and maximizing generation of capital. We are disappointed that operating/cash earnings per share were lower than a year ago, but are hopeful this trend will change by the second half of 2006.

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Such tactics are frequently used in negative political campaigns, and we believe go far beyond the bounds of acceptable behavior in communicating with shareholders of public corporations.

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We have taken away their ability to do a hostile deal. They are restricted in making an offer for the rest of Sovereign.

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We think 2006 is going to be a good year. It's not going to be a dynamite year, but it's going to be a good year.

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We're not getting into new businesses that we don't understand.

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Sovereign Bank considers the Latino community in Rhode Island a key to future economic growth in the state. The bank can be very helpful by targeting capital and providing specialized services that will give the Latino community a boost toward financial success.

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We are delighted to have these disputes resolved and put behind us.

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