"Due to market conditions," Customers Bancorp Inc., the $2 billion-asset Wyomissing (suburban Reading) bank cobbled together by former Sovereign Bancorp boss Jay S. Sidhu, says it "has postponed its public offering" of shares, which had been expected this week.

Customers also told the Securities and Exchange Commission it may pursue a private share offering instead.
The bank had hoped to raise $115 million to augment its current capital base of $150 million, raised by Sidhu from his contacts among U.S., British and India investors.
"We are committed to raising capital to support our growth but will do so in a very disciplined way in order to protect our existing shareholders," said Sidhu in a statement. "We will continue to assess the financial markets for future opportunities to raise capital in the public market at a price that we believe to be reflective of the inherent value of the company.”
Bank shares rose last fall and winter - the KBW index of 24 large bank stocks went from under 35 in November to over 50 in March - but have lately slipped - the KBW declined 7% since the start of April.

Customers had named Macquarie Capital, the Australian-owned multinational whose US investment division is headquartered in Philadelphia, and New York-based bank specialist Keefe Bruyette & Woods (KBW) as lead sale managers, with Philadelphia's Janney Montgomery Scott as co-manager.