SUBSEQUENT EVENTS	6 Months Ended
Jun. 30, 2011
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 2 – SUBSEQUENT EVENTS The Bancorp and the Bank entered into a Plan of Merger and Reorganization effective September 17, 2011 pursuant to which all of the issued and outstanding common stock of the Bank were exchanged on a three to one basis for shares of common stock of the Bancorp (the “Reorganization”). Every three shares of the Bank's outstanding common stock or Non-Voting common stock were converted into one share of the Bancorp's common stock or Non-Voting common stock. The Bank became a wholly-owned subsidiary of the Bancorp. The Bancorp is authorized to issue up to 100,000,000 shares of Common Stock, 100,000,000 shares of Class B Non-Voting Common Stock and 100,000,000 shares of preferred stock. In the Reorganization, the Bank's issued and outstanding common stock of 22,525,825 shares and Class B Non-Voting common stock of 6,834,895 shares converted into 7,508,608 shares of the Bancorp's common stock and 2,278,298 shares of the Bancorp's Non-Voting common stock. Outstanding warrants to purchase 1,410,732 shares of the Bank's common stock with an weighted average exercise price of $3.55 per share and 243,102 shares of the Bank's Class B Non-Voting common stock with an weighted average exercise price of $3.50 per share were converted into warrants to purchase 470,244 shares of the Bancorp's common stock with a weighted average exercise price of $10.64 per share and warrants to purchase 81,034 shares of the Bancorp's Class B Non-Voting common stock with a weighted average exercise price of $10.50 per share. Outstanding stock options to purchase 2,552,404 shares of the Bank's common stock with a weighted average exercise price of $3.50 per share and stock options to purchase 231,500 shares of the Bank's Class B Non-Voting common stock with a weighted average exercise price of $4.00 per share were converted into stock options to purchase 857,468 shares of the Bancorp's common stock with a weighted average exercise price of $10.49 per share and stock options to purchase 77,167 shares of the Bancorp's Class B Non-Voting common stock with a weighted average exercise price of $12.00 per share. Berkshire Bancorp Acquisition On September 17, 2011, the Bancorp completed its acquisition of Berkshire Bancorp, Inc. (BBI) and its subsidiary Berkshire Bank (collectively, Berkshire). BBI serves Berks County, Pennsylvania through its five branches of its subsidiary Berkshire Bank. Under the terms of the merger agreement, each outstanding share of BBI common stock (a total of 4,051,068) was exchanged for 0.1534 shares of Customers Bancorp, Inc. common stock, resulting in the issuance of 621,611 shares of the Bancorp common stock. In addition, the Bancorp exchanged each share of BBI's shares of Series A Preferred Securities and Series B Preferred Shares to the U.S. Treasury for one share of the Bancorp's Fixed Rate Cumulative Preferred Stock for the issuance of 2,892 shares of Series A Preferred Stock and 145 shares of Series B Preferred Stock with a par value of $1.00 per share and a liquidation of $1,000 per share. Cumulative dividends on the Series A Preferred Stock are 5% per year and Series B Preferred Stock are 9%. Upon the assumption of the Series A and B preferred shares, the Bancorp paid $218 of cumulative dividends to the Treasury previously unpaid. The Bancorp's next scheduled dividend payment for the Series A and B Preferred Stock will be November 2011. The total purchase price was approximately $10.9 million. In addition, 774,571 warrants to purchase shares of BBI's common stock were converted into warrants to purchase 118,853 shares of the Bancorp's common stock with exercise prices ranging from $21.38 to $68.82 per share. The warrants were extended for a five year period and will expire on September 17, 2016. BBI's operating results will be included in the Bancorp's financial results from the date of acquisition, September 17, 2011. BBI had total assets of $137 million, total loans of $103 million, and total deposits of $119 million at June 30, 2011. The Bancorp is in the process of obtaining the fair values of the acquired assets and assumed liabilities to allocate the purchase price.

NOTE 2 – SUBSEQUENT EVENTS

The Bancorp and the Bank entered into a Plan of Merger and Reorganization effective September 17, 2011 pursuant to which all of the issued and outstanding common stock of the Bank were exchanged on a three to one basis for shares of common stock of the Bancorp (the “Reorganization”). Every three shares of the Bank's outstanding common stock or Non-Voting common stock were converted into one share of the Bancorp's common stock or Non-Voting common stock. The Bank became a wholly-owned subsidiary of the Bancorp. The Bancorp is authorized to issue up to 100,000,000 shares of Common Stock, 100,000,000 shares of Class B Non-Voting Common Stock and 100,000,000 shares of preferred stock.

In the Reorganization, the Bank's issued and outstanding common stock of 22,525,825 shares and Class B Non-Voting common stock of 6,834,895 shares converted into 7,508,608 shares of the Bancorp's common stock and 2,278,298 shares of the Bancorp's Non-Voting common stock. Outstanding warrants to purchase 1,410,732 shares of the Bank's common stock with an weighted average exercise price of $3.55 per share and 243,102 shares of the Bank's Class B Non-Voting common stock with an weighted average exercise price of $3.50 per share were converted into warrants to purchase 470,244 shares of the Bancorp's common stock with a weighted average exercise price of $10.64 per share and warrants to purchase 81,034 shares of the Bancorp's Class B Non-Voting common stock with a weighted average exercise price of $10.50 per share. Outstanding stock options to purchase 2,552,404 shares of the Bank's common stock with a weighted average exercise price of $3.50 per share and stock options to purchase 231,500 shares of the Bank's Class B Non-Voting common stock with a weighted average exercise price of $4.00 per share were converted into stock options to purchase 857,468 shares of the Bancorp's common stock with a weighted average exercise price of $10.49 per share and stock options to purchase 77,167 shares of the Bancorp's Class B Non-Voting common stock with a weighted average exercise price of $12.00 per share.

Berkshire Bancorp Acquisition

On September 17, 2011, the Bancorp completed its acquisition of Berkshire Bancorp, Inc. (BBI) and its subsidiary Berkshire Bank (collectively, Berkshire). BBI serves Berks County, Pennsylvania through its five branches of its subsidiary Berkshire Bank. Under the terms of the merger agreement, each outstanding share of BBI common stock (a total of 4,051,068) was exchanged for 0.1534 shares of Customers Bancorp, Inc. common stock, resulting in the issuance of 621,611 shares of the Bancorp common stock. In addition, the Bancorp exchanged each share of BBI's shares of Series A Preferred Securities and Series B Preferred Shares to the U.S. Treasury for one share of the Bancorp's Fixed Rate Cumulative Preferred Stock for the issuance of 2,892 shares of Series A Preferred Stock and 145 shares of Series B Preferred Stock with a par value of $1.00 per share and a liquidation of $1,000 per share. Cumulative dividends on the Series A Preferred Stock are 5% per year and Series B Preferred Stock are 9%. Upon the assumption of the Series A and B preferred shares, the Bancorp paid $218 of cumulative dividends to the Treasury previously unpaid. The Bancorp's next scheduled dividend payment for the Series A and B Preferred Stock will be November 2011. The total purchase price was approximately $10.9 million.

In addition, 774,571 warrants to purchase shares of BBI's common stock were converted into warrants to purchase 118,853 shares of the Bancorp's common stock with exercise prices ranging from $21.38 to $68.82 per share. The warrants were extended for a five year period and will expire on September 17, 2016. BBI's operating results will be included in the Bancorp's financial results from the date of acquisition, September 17, 2011. BBI had total assets of $137 million, total loans of $103 million, and total deposits of $119 million at June 30, 2011. The Bancorp is in the process of obtaining the fair values of the acquired assets and assumed liabilities to allocate the purchase price.