Customers Bancorp Picks New CFO

Wyomissing, Pa.-based Customers Bancorp (NASDAQ: CUBI  ) has a new CFO.

On Tuesday, Customers Bancorp announced that Interim Chief Financial Officer James D. Hogan intends to retire from the bank on Aug. 13. Replacing Hogan will be Robert E. Wahlman, a new hire from Doral Financial, who will join Customers initially in the post of executive vice president on Aug. 5, and then be promoted to permanent CFO on the 13th.

In a simultaneous filing with the SEC, Customers said Hogan will be paid an annual base salary of $315,000 during his first two years with the bank, with a "bonus opportunity" to receive as much as 50% of his base salary. He will also receive 20,000 stock options, and an $800-a-month car allowance.

In contrast, the executive he is replacing, Hogan, received only $180,550 in total compensation in 2012, according to data from Salary.com. Hogan's base salary in particular was described as being just under $117,000.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2540574, ~/Articles/ArticleHandler.aspx, 8/2/2014 3:58:33 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement