Crypto-Friendly Customers Bancorp Falls During Sector Selloff
- Customers counts stablecoin issuer Circle among its clients
- Bank has real-time payments platform catering to crypto firms
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Customers Bancorp Inc., a regional lender that rode the crypto wave last year, fell 24% on Monday amid a wider selloff of financial stocks stemming from the collapse of Silicon Valley Bank.
Shares of the Pennsylvania-based bank plunged by nearly 70% before paring losses. They closed at $17.43 Monday, down 38.5% so far this year and more than 70% from its peak in January 2022.