Sam Sidhu, the new CEO and President of Customers Bank, spoke with Sandy Smith, Market President and Publisher of the Philadelphia Business Journal, about his plans for the bank’s expansion and other news during a feature video that is part of the Philadelphia Business Journal’s Executive Insights series.

The one-on-one interview introduced Sam Sidhu to numerous viewers in the region as well as in sister markets including Boston, Chicago, New York, and Washington, D.C., where the bank has an established presence.

The conversation focused on Sam’s journey to becoming the CEO and President of the bank, his expectations for the future of the banking industry, and his long-term vision for Customers Bank as it continues to deliver services that wow customers.

Sam served on the Board for 8 years before joining the bank full time. “I knew the board and senior management very well and understood the strategy,” stated Sam.

However, from a new management perspective, the timing could not have been worse, Sam shares, as COVID-19 hit about 6 weeks after he started.

Even though there was a worldwide pandemic happening, Customers Bank, under Sam’s guidance with his background in fintech and banking was able to assist small businesses with Paycheck Protection Program (PPP) loans. “Through 2020 and 2021, we were able to fund approximately 320K PPP loans,” Sam explains. “About 10 billion aggregate dollars.”

In 2021, Customers Bank ranked #2 in the country for providing the smallest average loan amounts among the nation’s leading PPP providers, ensuring the money went to the Main Street firms that needed it the most.

This led to Customers Bank being ranked the Number 8 bank in the county in 2021, based on its loan volume.

During this challenging time, Sam introduced himself as the new President and CEO as he hunkered down along with his team to address the challenges that banks faced as a result of the pandemic.

Customers Bank started as a small community bank in suburban Philadelphia and today has nearly $20 billion in assets and a footprint that is largely along the I-95 Acela corridor from Boston to DC.

The bank also has several national business lines that include SBA lending, lease financing, and banking for mortgage companies. Recently, Customers Bank entered several new markets across the nation, including Dallas, Texas, Orlando, Florida, and an expanded presence in Illinois based in Chicago.

Traditionally, community banks expand by opening more branches in contiguous territories to grow their footprint. Customers Bank is “branch lite” with approximately a dozen branches, but many of its services span the country.

Sam’s long-term vision remains focused on delivering the high-touch personal service support by best-in-class tech platforms the bank has become known for offering to commercial and consumer clients. He points out that the bank aims to create a digital banking journey for all customers.

Read more about Customers Bank CEO and President Sam Sidhu at the Philadelphia Business Journal.