Mark McCollom
Customers BancorpAbout Mark McCollom
Mark McCollom, age 61, was appointed Executive Vice President and CFO of Customers Bank effective June 2, 2025 and is expected to assume CFO of Customers Bancorp on or around August 15, 2025. He has 35+ years across finance, strategy, and operations, including CFO roles at Fulton Financial (2017–2024) and Sovereign Bancorp (1996–2008), and senior leadership at Griffin Financial Group; he holds a BS in Accounting from Pennsylvania State University . Company performance context: in 2024, CUBI delivered net income to common of $166.4M (diluted EPS $5.09), core earnings of $183.1M (core EPS $5.60), ROAE 10.4% and tangible book value per share up 14% to $54.08; immediately available liquidity to uninsured deposits was 159% and CET1 was 12.1% . Over five years, Customers reported annual growth of 15% revenue, 20% Core EPS, and 16% tangible book value .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Fulton Financial Corporation (≈$30B assets) | Chief Financial Officer | 2017–2024 | Led finance for a $30B regional financial holding company, supporting capital/liquidity and performance reporting |
| Griffin Financial Group | Senior leadership | ~9 years | Investment banking/financial advisory leadership contributing to strategic transactions and advisory |
| Sovereign Bancorp, Inc. (parent of Sovereign Bank) | Chief Financial Officer | 1996–2008 | Guided public bank finance function across cycles, including risk/compliance interfaces |
Fixed Compensation
| Component | Detail |
|---|---|
| Base salary | $500,000 per year |
| Target annual bonus (STI) | 70% of annualized base salary; payable in a mix of cash and time-vested RSUs, typically vesting in 3 equal annual installments; metrics approved by LD&CC |
| Long-term incentive (LTI) target | 100% of annualized base salary; awarded entirely as RSUs |
| Ownership guideline (policy) | CFO required to hold stock equal to 3× base salary; 5-year compliance window; unvested RSUs count, PBRSUs excluded |
| Clawback policy | Multiple clawback/recoupment provisions covering cash and equity for annual and long-term awards |
| Hedging policy | Hedging, short sales, and derivatives in Company securities prohibited |
Performance Compensation
| Metric | Weighting | 2025 Target Definition | Actual | Payout | Vesting Mechanics |
|---|---|---|---|---|---|
| Net Interest Margin (NIM) | 50% | Minimum NIM for 2025 of 3.10% | Not disclosed | Not disclosed | STI payable in cash and/or time-vested RSUs; RSUs typically vest in 3 annual installments |
| Asset quality (NPL/Loans) | 25% | Achieve top-quartile NPL/Total Loans & Leases vs peers | Not disclosed | Not disclosed | As above |
| Liquidity coverage | 25% | Maintain immediately available liquidity > 150% of uninsured deposits | Not disclosed | Not disclosed | As above |
| Equity Award Type | Grant Structure | Vesting |
|---|---|---|
| Time-based RSUs (40% of LTI) | Part of RSU-only LTI; supports retention | 3-year ratable vesting |
| Performance-based RSUs (PBRSUs; 60% of LTI) | Cliff vest tied to performance criteria approved by LD&CC | 100% cliff vest after 3 years |
Equity Ownership & Alignment
| Item | Status |
|---|---|
| Beneficial ownership (shares, % of outstanding) | Not disclosed as of record date April 11, 2025 (McCollom appointed June 2, 2025; not included in 2025 beneficial ownership table) |
| Vested vs unvested shares | Not disclosed |
| Options (exercisable/unexercisable) | Not disclosed |
| Shares pledged as collateral | No pledging disclosure for McCollom; Company policy prohibits hedging; pledging policy not stated; CEO has pledged shares, but not applicable to McCollom |
| Stock ownership guideline | CFO: 3× salary; 5 years to comply; unvested RSUs counted; PBRSUs excluded |
| Hedging compliance | Hedging/derivatives prohibited under Insider Trading Policy |
Employment Terms
| Provision | Term |
|---|---|
| Employment term | Initial 2-year term; continues unless either party gives proper notice (evergreen structure) |
| Severance (no Change in Control) | If terminated by Company other than for “Cause” or by Executive for “Good Reason”: cash equal to remaining salary for term paid in installments; unvested equity continues to vest on normal schedule; pro-rata annual bonus for current year; continued health/life/disability benefits for the severance measurement period, subject to plan/legal limits |
| Change-in-Control economics (double trigger) | If CIC within 24 months prior to termination and terminated without Cause within CIC Period or resigns for Good Reason within 1 year post-CIC: cash equal to 200% of highest base salary rate in prior 12 months; cash equal to 200% of average annual bonus over the 3 most recent fiscal years; all unvested equity vests in full; if termination occurs in the second year after CIC, multiples reduced to 100% |
| Excise tax treatment | “Cutback” to avoid 4999 excise tax; no gross-up |
| Triggers | No single-trigger CIC vesting; double-trigger required |
| Restrictive covenants | Non-solicit of customers/clients/executives/board/employees/vendors during employment and for 12 months post-termination; confidentiality/non-disclosure/assignment obligations over Proprietary Information |
| Indemnification | Entitled to certain indemnification rights under Employment Agreement |
Investment Implications
- Pay-for-performance alignment: STI metrics emphasize NIM, asset quality (NPLs), and liquidity coverage—risk-balanced KPIs typical for conservative bank incentive design; LTI delivered entirely as RSUs with 60% PBRSUs and 3-year cliff vest, increasing retention and tying value to medium-term execution .
- Retention and severance: Evergreen 2-year term with salary-continuation severance if terminated without cause and double-trigger CIC protection with 2× salary and bonus average, plus full equity acceleration (cutback, no gross-up), suggesting competitive but not shareholder-unfriendly protections; no single-trigger vesting reduces risk of windfall .
- Ownership alignment: CFO guideline of 3× salary and hedging prohibition strengthen alignment, though current beneficial ownership for McCollom is not yet disclosed given appointment timing; monitor future proxy for guideline compliance timeline and any equity accrual .
- Governance backdrop: Say-on-pay support was >97% in 2024, and LD&CC uses an independent consultant (Aon); continued investor engagement and clawback breadth are positives for compensation discipline .
- Trading signals: Expect periodic RSU vesting (annual tranches for STI RSUs and 3-year cliff in PBRSUs) creating potential 10b5-1 activity windows rather than large immediate sales; insider sale pressure data for McCollom is not yet available—monitor forthcoming Form 4s post-award and around vest dates .