<SEC-DOCUMENT>0002039852-25-000154.txt : 20250903
<SEC-HEADER>0002039852-25-000154.hdr.sgml : 20250903
<ACCEPTANCE-DATETIME>20250903161416
ACCESSION NUMBER:		0002039852-25-000154
CONFORMED SUBMISSION TYPE:	S-3ASR
PUBLIC DOCUMENT COUNT:		17
FILED AS OF DATE:		20250903
DATE AS OF CHANGE:		20250903
EFFECTIVENESS DATE:		20250903

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Customers Bancorp, Inc.
		CENTRAL INDEX KEY:			0001488813
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		ORGANIZATION NAME:           	02 Finance
		EIN:				272290659
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-290008
		FILM NUMBER:		251289911

	BUSINESS ADDRESS:	
		STREET 1:		701 READING AVENUE
		CITY:			WEST READING
		STATE:			PA
		ZIP:			19611
		BUSINESS PHONE:		484-359-7113

	MAIL ADDRESS:	
		STREET 1:		701 READING AVENUE
		CITY:			WEST READING
		STATE:			PA
		ZIP:			19611

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Customers 1st Bancorp, Inc.
		DATE OF NAME CHANGE:	20100408
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3ASR
<SEQUENCE>1
<FILENAME>cubis3asr.htm
<DESCRIPTION>CUSTOMERS BANCORP, INC. FORM S-3ASR
<TEXT>
<HTML>
<HEAD>
     <TITLE>Customers Bancorp, Inc. Form S-3ASR</TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>As filed with the Securities and Exchange Commission
on September 3, 2025 </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Registration No. 333- </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U></U></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U></U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM S-3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>UNDER THE SECURITIES ACT OF 1933</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Customers Bancorp, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact Name of Registrant as Specified in Its Charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pennsylvania</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or Other Jurisdiction</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>of Incorporation or Organization)</B></P></TD>
    <TD STYLE="width: 33%; padding-right: 5.65pt; padding-left: 5.65pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>27-2290659</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(I.R.S. Employer</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Identification Number)</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>701 Reading Avenue</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>West Reading, PA 19611</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(610) 933-2000</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Address, Including ZIP code, and Telephone Number,
    Including Area Code, of Registrant&rsquo;s Principal Executive Offices)</B></P></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Jay S. Sidhu</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Chairman and Chief Executive Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Customers Bancorp, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>701 Reading Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>West Reading PA 19611</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(610) 933-2000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Name, Address, Including ZIP Code, and Telephone
Number, Including Area Code, of Agent For Service)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>Copies to:</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Thomas L. Hanley, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Christopher S. Connell, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Stradley Ronon Stevens &amp; Young, LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2005 Market Street, Suite 2600<BR>
Philadelphia, PA 19103-7018<BR>
Telephone: (215) 564-8000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Approximate date of commencement of proposed sale to the public:</B>
From time to time after the effective date of this registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><BR>
If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check
the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><BR>
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under
the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the
following box. &#9746;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If this Form is filed to register additional securities for an offering
pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number
of the earlier effective registration statement for the same offering. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If this Form is a post-effective amendment filed pursuant to Rule 462(c)
under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration
statement for the same offering. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If this Form is a registration statement pursuant to General Instruction
I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the
Securities Act, check the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If this Form is a post-effective amendment to a registration statement
filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule
413(b) under the Securities Act, check the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of
&ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo; and &ldquo;emerging growth
company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Large accelerated filer</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt">&#9746;<FONT STYLE="font-family: Wingdings; font-size: 10pt"></FONT></TD>
    <TD STYLE="width: 43%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 30%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Accelerated filer</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Smaller reporting company</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Emerging growth company</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for comply with any new or revised financial accounting standards provided pursuant
to Section 7(a)(2)(B) of Securities Act. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U></U></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U></U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="width: 100%; text-align: center">&nbsp;</TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: red">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>Customers Bancorp, Inc.</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>Voting Common Stock<BR>
Class B Non-Voting Common Stock<BR>
Preferred Stock<BR>
Debt Securities<BR>
Depositary Shares<BR>
Warrants<BR>
Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We may offer and sell the securities identified above
from time to time, in one or more transactions. We may also issue common stock, preferred stock, debt securities or depositary shares
upon the conversion, exchange or exercise of certain of the securities identified above. This prospectus provides you with a general description
of these securities. Each time we offer any securities pursuant to this prospectus, we will provide you with a prospectus supplement describing
the specific terms of the securities being offered, including the price of the securities. The prospectus supplements and any related
free writing prospectus also may add, update or change information contained in this prospectus. You should carefully read this prospectus,
the applicable prospectus supplement and any related free writing prospectus, together with the documents incorporated by reference in
this prospectus and any prospectus supplement, before you decide to invest in any of our securities. This prospectus may not be used to
sell securities unless it is accompanied by a prospectus supplement that further describes the securities being offered and sold to you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We may offer and sell these securities to or through
one or more agents, dealers or underwriters as designated by us from time to time, or directly to purchasers or through a combination
of these methods, on a continuous or delayed basis. If any agents, dealers or underwriters are involved in the offer and sale of any securities,
the applicable prospectus supplement will set forth their names and any applicable purchase price, fee, commission or discount arrangement
with, between or among them, or such amount will be calculable from the information set forth therein. For additional information, see
&ldquo;Plan of Distribution.&rdquo; No securities may be sold without delivery of this prospectus and a prospectus supplement describing
the method and terms of the offering of those securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our common stock is listed on the New York Stock Exchange
under the symbol &ldquo;CUBI.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unless otherwise indicated in the applicable prospectus
supplement, the other securities offered hereby will not be listed on a national securities exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our principal executive offices are located at 701
Reading Avenue, West Reading, Pennsylvania, 19611. Our telephone number is (610) 993-2000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>These securities are not savings accounts, deposits
or other obligations of our bank or non-bank subsidiaries and are not insured or guaranteed by the Federal Deposit Insurance Corporation,
or the FDIC, or any other government agency.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Investing in our securities involves risks. See
&ldquo;<A HREF="#riskfactors">Risk Factors</A>&rdquo; beginning on page 2 of this prospectus, as well as those risk factors contained in any prospectus supplement
we file and in our reports filed with the Securities and Exchange Commission, or the SEC, that are incorporated or deemed to be incorporated
by reference herein or in any applicable prospectus supplement, to read about other risk factors you should consider before making a decision
to invest in any of our securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>None of the SEC, any state securities commission,
the Board of Governors of the Federal Reserve System, or the Federal Reserve, the FDIC or any other regulatory body has approved or disapproved
of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The date of this prospectus is September
3, 2025</P>

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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 86%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 13%; text-align: center"><FONT STYLE="font-size: 10pt"><U>PAGE</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#about">ABOUT THIS PROSPECTUS</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">ii</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#cautionary">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">iii</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="#summary">SUMMARY</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">1</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#riskfactors">RISK FACTORS</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">2</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#useofproceeds">USE OF PROCEEDS</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">3</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#descriptionofsecurities">DESCRIPTION OF THE SECURITIES</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">4</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#descriptionofcommonstock">DESCRIPTION OF COMMON STOCK</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">4</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#descriptionofpreferredstock">DESCRIPTION OF PREFERRED STOCK</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">8</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#descriptionofdebt">DESCRIPTION OF DEBT SECURITIES</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">11</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#depositaryshares">DESCRIPTION OF DEPOSITARY SHARES</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">22</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#warrants">DESCRIPTION OF WARRANTS</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">25</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#units">DESCRIPTION OF UNITS</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">26</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#plan">PLAN OF DISTRIBUTION</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">28</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#legal">LEGAL MATTERS</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">31</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#experts">EXPERTS</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">31</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#reference">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">31</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#findmore">WHERE YOU CAN FIND MORE INFORMATION</A></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">32</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0"><BR STYLE="clear: both">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="about"></A>ABOUT THIS PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This prospectus is part of a registration statement
that we have filed with the SEC under the Securities Act of 1933, as amended, or the Securities Act, using a &ldquo;shelf&rdquo; registration
process. Under this shelf registration statement, we are registering an unspecified amount of each class of the securities described in
this prospectus, and may sell any combination of these securities in one or more offerings from time to time in the future. This prospectus
provides you with a general description of the securities we may offer and sell and is not meant to provide a complete description of
each security. As a result, each time we sell securities, we will provide a prospectus supplement containing specific information about
the terms of the offering, including specific amounts, prices and other terms of the securities being offered and other details related
to the offering. The prospectus supplement may also add, update or change information contained in this prospectus. Such information may
be further updated by documents incorporated by reference into this prospectus or a prospectus supplement. Any statement contained in
this prospectus, any prospectus supplement or in a document incorporated or deemed to be incorporated by reference herein or therein shall
be deemed to be modified or superseded for purposes of this prospectus and any prospectus supplement to the extent that a statement contained
in any subsequently filed document which is or is deemed to be incorporated by reference herein or therein modifies or supersedes such
statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part
of this prospectus or any prospectus supplement. You should read both this prospectus and any prospectus supplement together with the
additional information described under the headings &ldquo;Incorporation of Certain Documents by Reference&rdquo; and &ldquo;Where You
Can Find More Information&rdquo; before making an investment decision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This prospectus and any prospectus supplement do not
contain all of the information set forth or incorporated by reference in the registration statement or the exhibits filed therewith. Statements
contained or incorporated by reference in this prospectus and any applicable prospectus supplement as to the contents of any agreement
or other document are only summaries, are not necessarily complete, and in each instance we refer you to the copy of the contract or other
document filed as an exhibit to a document incorporated by reference in this prospectus or such prospectus supplement, as applicable,
each such statement being qualified in all respects by such reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">You should rely only on the information contained or
incorporated by reference in this prospectus or any applicable prospectus supplement. We have not authorized any person to provide you
with any information or to make any representation other than those contained or incorporated by reference in this prospectus or any applicable
prospectus supplement, and, if made, such information or representation must not be relied upon as having been given or authorized. Neither
this prospectus nor any prospectus supplement constitutes an offer to sell or a solicitation of an offer to buy any security other than
the securities offered by this prospectus or any such prospectus supplement, or an offer to sell or a solicitation of an offer to buy
any securities by anyone in any jurisdiction in which the offer or solicitation is not authorized or is unlawful. The delivery of this
prospectus or any prospectus supplement will not, under any circumstances, create any implication that the information herein or therein
is correct as of any time subsequent to the date of this prospectus or such prospectus supplement. You should assume that the information
contained or incorporated by reference in this prospectus, any prospectus supplement or other offering materials is accurate only as of
the dates of those documents or the documents incorporated by reference, as applicable. Our business, financial condition, results of
operations and prospects may have changed since those dates. Any information disclosed in our subsequent filings with the SEC and any
applicable prospectus supplement that is inconsistent with the information included in this prospectus will supersede the information
in this prospectus or any earlier prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We have not taken any action to permit a public offering
of the securities offered by this prospectus or any prospectus supplement outside the United States or to permit the possession or distribution
of this prospectus outside the United States, unless the applicable prospectus supplement so specifies. Persons outside the United States
who come into possession of this prospectus or any prospectus supplement must inform themselves about and observe any restrictions relating
to the offering of the securities and the distribution of this prospectus or such prospectus supplement outside of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">All references in this prospectus and any prospectus
supplement to &ldquo;Customers Bancorp,&rdquo; &ldquo;Customers,&rdquo; the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo;
&ldquo;our,&rdquo; or similar references refer to Customers Bancorp, Inc., and its subsidiaries on a consolidated basis, except where
the context otherwise requires or as otherwise indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="cautionary"></A><B>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0">This prospectus, any prospectus
supplement and the documents incorporated by reference herein and therein contain forward-looking information within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are statements other than statements
of fact and typically relate to future events or future predictions, including events or predictions relating to future financial performance,
and are generally identifiable by the use of forward-looking terminology such as &ldquo;believe,&rdquo; &ldquo;expect,&rdquo; &ldquo;may,&rdquo;
&ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;plan,&rdquo; &ldquo;intend,&rdquo; or &ldquo;anticipate&rdquo; or the negative thereof
or comparable terminology. Forward-looking statements reflect numerous assumptions, estimates and forecasts as to future events. No assurance
can be given that the assumptions, estimates and forecasts underlying such forward-looking statements will accurately reflect future conditions,
or that any guidance, goals, targets or projected results will be realized. The assumptions, estimates and forecasts underlying such forward-looking
statements involve judgments with respect to, among other things, future economic, competitive, regulatory and financial market conditions
and future business decisions, which may not be realized and which are inherently subject to significant business, economic, competitive
and regulatory uncertainties and known and unknown risks, including the risks described under &ldquo;Risk Factors&rdquo; in our Annual
Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025
and June 30, 2025, as such factors may be updated from time to time in our filings with the SEC. Our actual results may differ materially
from those reflected in the forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-indent: 0.5in">In addition to the risks described under &ldquo;Risk
Factors&rdquo; in this prospectus and the documents incorporated by reference herein, other important factors to consider and evaluate
with respect to such forward-looking statements include:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 91%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">a prolonged downturn in the economy, particularly in the geographic areas in which we do business, or an unexpected decline in real estate values within our market areas;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">the impact of forbearances or deferrals we are required to provide or that we agree to as a result of borrower requests and/or government actions, including, but not limited to our potential inability to fully recover deferred payments from the borrower or the collateral;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">inflation, interest rate, securities market and monetary fluctuations;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">continued volatility in the credit and equity markets and its effect on the general economy;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">our ability to attract and retain deposits and other sources of liquidity;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">public health crises and pandemics and their effects on the economic and business environments in which we operate;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism and military conflicts, including the war between Russia and Ukraine and ongoing conflict in the Middle East, which could impact economic conditions in the United States;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">the effects of actions by the federal government, including the Board of Governors of the Federal Reserve System and other government agencies, that affect market interest rates and the money supply; actions that we and our customers take in response to these developments and the effects such actions have on our operations, products, services and customer relationships;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">the impact that changes in the economy have on the performance of our loan and lease portfolio, the market value of our investment securities, the demand for our products and services and the availability of sources of funding;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">higher inflation and its impacts;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">the effects of changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs on its trading partners;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">our ability to raise additional funding in the capital markets, if necessary, to fund our operations and business plan;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">changes in the financial performance and/or condition of our borrowers or depositors;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">changes in the level of non-performing and classified assets and charge-offs, which may require us to increase our allowance for credit losses, charge off loans and leases and incur elevated collection and carrying costs related to such non-performing assets;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">changes in estimates of our future loss reserve requirements under current expected credit losses (&ldquo;CECL&rdquo;) based upon our periodic review thereof under relevant regulatory and accounting requirements;</FONT></TD></TR>
  </TABLE>



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    <TD STYLE="width: 3%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 91%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">potential claims, damages, penalties, fines and reputational damage arising from litigation and regulatory and government actions relating to our participation in and execution of government programs related to the COVID-19 pandemic or as a result of our action in response to, or failure to implement or effectively implement, applicable federal, state and local laws, rules or executive orders requiring that we grant forbearances or not act to collect amounts due under our loans;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">the effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, Financial Accounting Standards Board and other accounting standard setters;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">changes in external competitive market factors that might impact our results of operations;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">changes in laws and regulations, including, without limitation, changes in capital requirements under Basel III;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">the extensive federal and state regulation, supervision and examination governing almost every aspect of our operations and potential expenses associated with complying with such regulations;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">the effects of heightened regulatory requirements applicable to banks with assets in excess of $10 billion;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">changes in our business strategy or an inability to execute our strategy due to the occurrence of unanticipated events;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">local, regional and national economic conditions and events and the impact they may have on us and our borrowers and depositors;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">costs and effects of legal and regulatory oversight and legal developments, including the results of regulatory examinations and the outcome of regulatory or other governmental inquiries and proceedings, such as fines, restrictions on our business activities or reputational damage;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">any failure of ours to comply with anti-money laundering and anti-terrorism financing laws;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">our ability to identify borrowers and make loans at terms that are favorable to us;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">our ability to attract and retain qualified personnel;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">timely development and acceptance of new banking products and services and perceived overall value of these products and services by users;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">our ability to execute our digital distribution strategy;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">technological changes, including acceptance and success of our proprietary business-business (&ldquo;B2B&rdquo;) instant payments platform, cubiX, which is subject to a variety of factors that are difficult to evaluate;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">changes in consumer spending, borrowing and saving habits;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">our ability to successfully implement our growth strategy, control expenses and maintain liquidity;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">costs and effects of system failures or cybersecurity incidents or other breaches of our network security and the network security of our third-party service providers and our borrowers and depositors;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">the businesses of Customers Bank and any acquisition targets or merger partners and subsidiaries not being integrated successfully or such integration being more difficult, time-consuming or costly than expected;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">our ability to engage third-party service providers and the ability of our third-party service providers to adequately perform their services;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">material differences in the actual financial results of merger and acquisition activities compared with our expectations, such as with respect to the full realization of anticipated cost savings and revenue enhancements within the expected time frame;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">regulatory limits on our ability to receive dividends from our subsidiaries and pay dividends to our shareholders;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">our ability to manage the risks of change in our deposit and loan mix;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">our ability to manage the risks inherent in our consumer loan and mortgage portfolios;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">shareholder and analyst ratings and sentiment, and the effects they may have on the price at which our securities trade;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">our ability to identify potential candidates for, and consummate, acquisition or investment transactions;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">constraints on our ability to consummate an attractive acquisition or investment transaction because of significant competition for those opportunities;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">our ability to manage servicing, processing forgiveness, and guarantee submissions of Paycheck Protection Program (&ldquo;PPP&rdquo;) loans; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">any reputation, credit, interest rate, market, operational, litigation, legal, liquidity, regulatory and compliance risk resulting from developments related to any of the risks discussed above.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-indent: 0.5in">You are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date hereof, or, in the case of other documents referred to herein, the dates
of those documents. We do not undertake any obligation to release publicly or otherwise provide any revisions to these forward-looking
statements to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events, except
as may be required under applicable law.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<DIV STYLE="padding-right: 10pt; border: Black 1pt solid; padding-left: 10pt">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="summary"></A>SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>This summary highlights information contained elsewhere
in this prospectus and in the documents we incorporate by reference. This summary does not contain all of the information that you should
consider before deciding to invest in our securities. You should read this entire prospectus and any applicable prospectus supplement
carefully, including the &ldquo;Risk Factors&rdquo; sections contained in this prospectus or the applicable prospectus supplement and
Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 and Part II, Item 1A of our Quarterly Reports on
Form 10-Q for the quarters ended March 31, 2025 and June 30, 2024, as may be updated by our subsequently-filed Quarterly Reports on Form
10-Q and Current Reports on Form 8-K, as well as our financial statements and the related notes and the other documents incorporated by
reference herein, which are described under the heading &ldquo;Incorporation of Certain Documents by Reference&rdquo; in this prospectus.</I></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Customers Bancorp, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Customers Bancorp, Inc. is a bank holding company
located in West Reading, Pennsylvania engaged in banking and related businesses through its bank subsidiary, Customers Bank.
Customers Bank is a community-based, full-service bank, and is a member of the Federal Reserve System, with deposits insured by the
FDIC. Customers Bancorp, Customers Bank and our non-bank subsidiaries serve businesses and residents in Berks County and
Southeastern Pennsylvania (Bucks, Chester and Philadelphia Counties); New York (Westchester and Suffolk Counties, and Manhattan);
Hamilton, New Jersey; Boston, Massachusetts; Providence, Rhode Island; Portsmouth, New Hampshire; California (Southern California
and the Bay Area); Nevada (Las Vegas and Reno); and nationally for certain loan and deposit products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Customers Bank has seven branches and provides
commercial banking products, primarily loans and deposits. In addition, Customers Bank administratively supports loan and other
financial products, including equipment finance leases, to customers through its limited-purpose offices. Customers Bank also serves
specialized businesses nationwide, including its mortgage finance loans, commercial equipment financing, SBA lending and specialized
lending. Customers Bank also offers consumer loans through relationships with fintech companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We were incorporated as a Pennsylvania incorporation
on April 7, 2010 to facilitate a reorganization into a bank holding structure pursuant to which the Bank became our wholly owned subsidiary.
Our principal executive offices are located at 701 Reading Avenue, West Reading, Pennsylvania, 19611. Our telephone number is (610) 993-2000.
Our Internet address is www.customersbank.com. We have included our web address as inactive textual references only. The information found
on, or otherwise accessible through, our website is not incorporated into, and does not form a part of, this prospectus or any prospectus
supplement or any other report or document we file with or furnish to the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

</DIV>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="riskfactors"></A><B>RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>An investment in our securities involves substantial
risks. In consultation with your own advisors, you should carefully consider, among other matters, the risk factors and other information
we include or incorporate by reference in this prospectus and any prospectus supplement before deciding whether to invest in our securities.
In particular, you should carefully consider, among other things, the factors described under the caption &ldquo;Risk Factors&rdquo; in
Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 and Part II, Item 1A of our Quarterly Reports on
Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025, as may be updated by our subsequently-filed Quarterly Reports on Form
10-Q and Current Reports on Form 8-K or other filings that we make with the SEC. If any of the risks contained in or incorporated by reference
into this prospectus or any prospectus supplement develop into actual events, our business, financial condition, liquidity, results of
operations and prospects could be materially and adversely affected, the market price of our securities could decline and you may lose
all or part of your investment. Some statements in this prospectus and any prospectus supplement, and in the documents incorporated by
reference into this prospectus or any prospectus supplement, including statements relating to the risk factors, constitute forward-looking
statements. See the &ldquo;Cautionary Note Regarding Forward-Looking Statements&rdquo; sections in this prospectus and any prospectus
supplement.</I></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;<BR STYLE="clear: both"></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center"><B><A NAME="useofproceeds"></A>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unless otherwise indicated in the applicable prospectus
supplement, we expect to use the net proceeds from the sale of the offered securities for general corporate purposes, which may include
refinancing, reducing or repaying debt, repurchasing shares of voting common stock or redeeming senior equity securities; investments
in Customers Bank and any other of our subsidiaries as regulatory capital to fund growth; financing possible investments or acquisitions;
expansion of the business; and investments at the holding company level. The prospectus supplement with respect to an offering may identify
different or additional uses for the proceeds of that offering. In most cases, management will retain broad discretion over the allocation
of net proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Except as otherwise stated in an applicable prospectus
supplement, pending the application of the net proceeds, we expect to invest the proceeds in short-term obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="descriptionofsecurities"></A>DESCRIPTION OF THE SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This prospectus contains a summary of the common stock,
the preferred stock, the debt securities, the depositary shares, the warrants and the units that we may offer and issue under this prospectus.
The particular material terms of the securities offered by a prospectus supplement will be described in that prospectus supplement. If
indicated in the applicable prospectus supplement, the terms of the offered securities may differ from the terms summarized below. The
prospectus supplement will also contain information, where applicable, about material United States federal income tax considerations
relating to the offered securities, and the securities exchange, if any, on which the offered securities will be listed. The descriptions
herein and in the applicable prospectus supplement do not contain all of the information that you may find useful or that may be important
to you. You should refer to the provisions of the actual documents whose terms are summarized herein and in the applicable prospectus
supplement, because those documents, and not the summaries, define your rights as holders of the relevant securities. For more information,
please review the forms of these documents, which are or will be filed with the SEC and will be available as described under the heading
&ldquo;Where You Can Find More Information&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="descriptionofcommonstock"></A><B>DESCRIPTION OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following description, together with the additional
information we may include in any applicable prospectus supplements, summarizes the material terms and provisions of the common stock
that we may offer under this prospectus. The following description provides a summary of the terms of our common stock, but does not purport
to be complete and is subject to and qualified by reference to our articles of incorporation and bylaws, which have been filed or incorporated
by reference in the registration statement of which this prospectus is a part. The description below does not contain all of the information
that you might find useful or that might be important to you. You should refer to the provisions of our articles of incorporation and
bylaws because they, and not the summaries, define the rights of holders of shares of our common stock. These documents are available
as described under the heading &ldquo;Where You Can Find More Information.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under our articles of incorporation, we are authorized
to issue up to an aggregate amount of 300,000,000 shares of stock, comprising:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 92%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">100,000,000 shares of voting common Stock, par value $1.00 per share;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">100,000,000 shares of Class B non-voting common stock, par value $1.00
    per share; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">100,000,000 shares of preferred stock.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our board of directors has the authority to establish
and divide the authorized and unissued shares of voting common stock and of Class B non-voting common stock into series or classes and
to fix and determine, to the extent not already determined in our articles of incorporation, the designations, preferences, and other
special rights, including conversion rights, and the qualifications, limitations, or restrictions on those rights attributable to the
shares in a series or class. As of September 2, 2025, there were 31,633,189 shares of voting common stock and no shares of Class
B non-voting common stock outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our board of directors also has the authority to establish
and divide the authorized and unissued shares of preferred stock into series or classes or both and to determine whether or not shares
in any series or class of preferred stock have par value and, if so, the par value, whether or not the shares in a series or class have
voting rights and if so whether those voting rights are full, limited, multiple or fractional, and for each series or class of preferred
stock, the designations, preferences, and other special rights, if any, including dividend rights, conversion rights, redemption rights
and liquidation preferences, if any, and the qualifications, limitations, or restriction on those rights, and the number of shares of
each series or class. As of September 2, 2025, there were 3,400,000 shares of our Fixed-to-Floating Rate Non-Cumulative Perpetual
Preferred Stock, Series F outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our board of directors previously created five series
of preferred stock, Fixed Rate Perpetual Preferred Stock, Series A, Fixed Rate Cumulative Perpetual Preferred Stock, Series B, Fixed-to-Floating
Rate Non-Cumulative Perpetual Preferred Stock, Series C, Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D and
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E. All shares of these five series of preferred stock were repurchased
by us and are no longer outstanding. The shares of these five series were canceled, and the authorized number of shares of each series
have reverted to authorized but unissued shares of preferred stock and may be issued as part of any series of preferred stock hereafter
designated by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our board of directors, in its sole discretion, has
authority to sell any treasury stock and/or unissued securities, options, warrants, or other rights to purchase any of our securities,
upon such terms as it deems advisable. Subject to applicable law and the provisions of our articles of incorporation and bylaws, our board
of directors could issue preferred stock, or additional shares of voting common stock or Class B non-voting common stock, with terms different
from those of our existing common stock, at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Voting Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Except as otherwise required by law and except as provided
by the terms of any other class or series of stock, holders of voting common stock have the exclusive power to vote on all matters presented
to our shareholders, including the election of directors. Each holder of voting common stock is entitled to one vote per share. The holders
of voting common stock do not have the right to vote their shares cumulatively in the election of directors. This means that, for each
director position to be elected, a shareholder may only cast a number of votes equal to the number of shares held by the shareholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any action that would significantly and adversely affect
the rights of the Class B non-voting common stock with respect to the modification of the terms of those securities or dissolution requires
the approval of the holders of Class B non-voting common stock voting separately as a class. Otherwise, the holders of the Class B non-voting
common stock have no voting power, and do not have the right to participate in or have notice of any meeting of shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Because our articles of incorporation permit the board
of directors to set the voting rights of preferred stock, it is possible that holders of one or more series of preferred stock issued
in the future could have voting rights of any sort, which could limit the effect of the voting rights of holders of voting common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Dividend Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The holders of our common stock are entitled to receive
dividends declared by our board of directors out of any assets legally available for distribution. We may not pay dividends or other distributions
unless we have paid, declared or set aside all accumulated dividends and any sinking fund, retirement fund or other retirement payments
on any class of stock having preference as to payments of dividends over our common stock. As a holding company, our ability to pay dividends
is affected by the ability of our subsidiaries, including Customers Bank, to pay dividends or otherwise transfer funds to us. The ability
of our subsidiaries to pay dividends or make other distributions to us, and our ability to pay dividends to shareholders is, and could
in the future be, subject to or influenced by bank regulatory requirements and capital guidelines.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Because our articles of incorporation permit our board
of directors to set the dividend rights of preferred shares, it is possible that holders of one or more series of preferred shares issued
in the future could have dividend rights that differ from those of the holders of our common stock, or could have no right to the payment
of dividends. If the holders of a class or series of preferred stock is given dividend rights, the right of holders of preferred shares
to receive dividends could have priority over the right of holders of our common stock to receive dividends. As discussed above under
&quot;&mdash;General&quot; we have currently issued and outstanding shares of preferred stock that have priority over the right of holders
of our common stock to receive dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We have followed and presently intend to continue following
a policy of retaining earnings, if any, to increase our net worth and reserves. We have not historically declared or paid dividends on
our common stock, and we do not expect to do so in the foreseeable future. Any future determination relating to our dividend policy will
be made at the discretion of our board of directors and will depend on a number of factors, including our earnings and financial condition,
liquidity and capital requirements, the general economic and regulatory climate, our ability to service any equity or debt obligations
senior our common stock, and other factors deemed relevant by our board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Redemption, Preemptive Rights and Repurchase Provisions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our common stock has no preemptive rights or redemption
or repurchase provisions. The shares are non-assessable and require no sinking fund. Repurchases of our voting common stock are subject
to Federal Reserve regulations and policies, and in some cases also may be subject to prior notice to and approval by the Federal Reserve.
Our ability to make repurchases of our common stock also may be effectively constrained by federal and state bank regulatory capital requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Liquidation Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event we are liquidated, dissolved or our affairs
are wound up, the holders of our common stock will be entitled to share ratably in all of our assets remaining after paying or making
adequate provision for all our debts and liabilities, subject, however, to any preferential liquidation rights of holders of any other
class or series of our stock outstanding at that time. If our only asset is our ownership of Customers Bank, it is likely that, if Customers
Bank is then in liquidation or receivership, our shareholders will not receive anything on account of their shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Potential Anti-Takeover Effect of Governing Documents and Applicable
Law</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Some provisions of Pennsylvania law, our articles of
incorporation and our bylaws may have the effect of deterring or discouraging, among other things, a non-negotiated tender or exchange
offer for our common stock, a proxy contest for control of the company, the assumption of control of the company by a holder of a large
block of common stock or the removal of our board of directors. It is possible that these provisions could make it more difficult to accomplish
or could deter transactions that shareholders may otherwise consider to be in their best interest or in our best interest, including transactions
which provide for payment of a premium over the market price for our shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">These provisions, summarized below, are intended to
discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to
acquire control of us to first negotiate with our board of directors. We believe that the benefits of the increased protection of our
potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages
of discouraging these proposals because negotiation of these proposals could result in an improvement of their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Provisions of Our Governing Documents</I>. Our articles
of incorporation and bylaws include provisions that may have the effects summarized above. These provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 90%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Empower our board of directors, without shareholder approval, to issue
    preferred stock, the terms of which, including voting power, are set by our board of directors;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Divide our board of directors into three classes serving staggered three-year
    terms;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Restrict the ability of shareholders to remove directors;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Require that shares with at least 80% of total voting power approve mergers
    and other similar transactions with a person or entity holding stock with more than 5% of our voting power, if a reorganization is not
    approved, in advance, by two-thirds of the members of our board of directors;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Prohibit action by the shareholders without a shareholder meeting;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Require that shares representing at least 80% of total voting power approve
    the repeal or amendment of certain provisions of our articles of incorporation;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 3%"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 90%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Require any person who acquires our stock with voting power of 25% or more
    to offer to purchase for cash all remaining shares of our voting stock at the highest price paid by such person for shares of our voting
    stock during the preceding year;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Eliminate cumulative voting in elections of directors;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Require that shares representing at least two-thirds of the total voting
    power approve any amendment to or repeal of our bylaws;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Require that our board of directors give due consideration to the effect
    of a proposed transaction on the depositors, employees, suppliers, customers and other of our and our subsidiaries&rsquo; constituents
    and on the communities in which we and they operate or are located, and to the business reputation of the other party and our value in
    a freely negotiated sale and of our future prospects as an independent entity;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Require advance notice of nominations for the election of directors and
    the presentation of shareholder proposals at meetings of shareholders; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Provide that officers, directors, employees, agents and persons who own 5% or more of the voting securities of any other corporation or other entity that owns 66 2/3% or more of our outstanding voting stock cannot constitute a majority of the members of our board of directors.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Provisions of Applicable Law</I>. The Pennsylvania
Business Corporation Law also contains certain provisions applicable to us that may have the effect of impeding a change in control. These
provisions, among other things, prohibit for five years, subject to certain exceptions, a &ldquo;business combination,&rdquo; which includes
a merger or consolidation of the corporation or a sale, lease or exchange of assets with a shareholder or group of shareholders beneficially
owning 20% or more of the corporation&rsquo;s voting power in an election of directors. In addition, certain provisions of the Pennsylvania
Business Corporation Law:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 92%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Expand the factors and groups (including shareholders) a board of directors
    can consider in determining whether a certain action is in the best interests of the corporation;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Provide that a board of directors need not consider the interests of any
    particular group as dominant or controlling;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Provide that directors, in order to satisfy the presumption that they have
    acted in the best interests of the corporation, need not satisfy any greater obligation or higher burden of proof for actions relating
    to an acquisition or potential acquisition of control;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Provide that actions relating to acquisitions of control that are approved
    by a majority of &ldquo;disinterested directors&rdquo; are presumed to satisfy the directors&rsquo; standard of care, unless it is proven
    by clear and convincing evidence that the directors did not assent to such action in good faith after reasonable investigation; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Provide that the fiduciary duties of directors are solely to the corporation and may be enforced by the corporation or by a shareholder in a derivative action, but not by a shareholder directly.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Pennsylvania Business Corporation Law also provides
that the fiduciary duties of directors do not require directors to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 92%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Redeem any rights under, or to modify or render inapplicable, any shareholder
    rights plan;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Render inapplicable, or make determinations under, provisions of the Pennsylvania
    Business Corporation Law, relating to control transactions, business combinations, control-share acquisitions or disgorgement by certain
    controlling shareholders following attempts to acquire control; or</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 6%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 1%"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 92%"><FONT STYLE="font-size: 10pt">Take action as the board of directors, a committee of the board or an individual director solely because of the effect such action might have on an acquisition or potential or proposed acquisition of control of us or the consideration that might be offered or paid to shareholders in such an acquisition.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to provisions of our articles of incorporation,
and in accordance with Pennsylvania law, we have opted out of coverage by the &ldquo;disgorgement,&rdquo; &ldquo;control transactions,&rdquo;
&ldquo;control-share acquisitions,&rdquo; &ldquo;severance compensation,&rdquo; and &ldquo;labor contracts&rdquo; provisions of the Pennsylvania
Business Corporation Law. As a result of our opting-out from coverage by these statutes, none of the &ldquo;disgorgement,&rdquo; &ldquo;control
transactions,&rdquo; &ldquo;control-share acquisitions,&rdquo; &ldquo;severance compensation,&rdquo; or &ldquo;labor contracts&rdquo;
statutes would apply to a non-negotiated attempt to acquire control of us, although such an attempt would still be subject to the special
provisions of our governing documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>New York Stock Exchange Listing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our common stock is listed on the New York Stock Exchange
under the symbol &ldquo;CUBI.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Transfer Agent</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Computershare serves as the transfer agent and registrar
for our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="descriptionofpreferredstock"></A>DESCRIPTION OF PREFERRED STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following description, together with the additional
information we may include in any applicable prospectus supplements, summarizes the material terms and provisions of the preferred stock
that we may offer under this prospectus. While the terms summarized below will apply generally to any shares of preferred stock that we
may offer, we will describe the particular terms of any series of preferred stock in more detail in the applicable prospectus supplement.
If we indicate in the prospectus supplement, the terms of any shares of preferred stock offered under that prospectus supplement may differ
from the terms described below. Specific statements with respect to shares will contain additional important terms and provisions and
will be incorporated by reference as an exhibit to the registration statement that includes this prospectus. We urge you to read the applicable
prospectus supplement and any related free writing prospectus, as well as the statement with respect to shares that contains the specific
terms of the shares of preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our articles of incorporation provides that our board
of directors may issue, without action by our shareholders, a maximum of 100,000,000 shares of preferred stock, in one or more series
and with such terms and conditions, at such times and for such consideration, as the board of directors may determine. As of September 2,
2025, there were 3,400,000 shares of our Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F outstanding. The rights
and privileges relating to these outstanding shares of our preferred stock are governed by the applicable statement with respect to shares
for each series of preferred stock, which have been incorporated by reference as exhibits to the registration statement of which this
prospectus is a part. You should refer to those statements with respect to shares for the specific terms of the preferred stock that is
outstanding, which may be important to you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our board of directors previously created five series
of preferred stock, Fixed Rate Perpetual Preferred Stock, Series A and Fixed Rate Cumulative Perpetual Preferred Stock, Series B, Fixed-to-Floating
Rate Non-Cumulative Perpetual Preferred Stock, Series C, Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D and
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E. All shares of these five series of preferred stock were repurchased
by us and are no longer outstanding. The shares of these five series were canceled, and the authorized number of shares of each series
have reverted to authorized but unissued shares of preferred stock and may be issued as part of any series of preferred stock hereafter
designated by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In authorizing the issuance of any additional shares
of our preferred stock, other than additional shares of the series of preferred stock that are then currently outstanding, our board of
directors may determine the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 90%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the voting powers, if any, of the holders of shares of such series in addition
    to any voting rights affirmatively required by law;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the rights of shareholders in respect of dividends, including, without
    limitation, the rate or rates per annum and the time or times at which (or the formula or other method pursuant to which such rate or
    rates and such time or times may be determined) and conditions upon which the holders of shares of such series will be entitled to receive
    dividends and other distributions, and whether any such dividends will be cumulative or noncumulative and, if cumulative, the terms upon
    which such dividends will be cumulative;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">whether the shares of each such series shall be redeemable by us at our
    option or the holder of the shares, and, if redeemable, the terms and conditions upon which the shares of such series may be redeemed;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the amount payable and the rights or preferences to which the holders of
    the shares of such series will be entitled upon any voluntary or involuntary liquidation, dissolution or winding-up;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the terms, if any, upon which shares of such series will be convertible
    into, or exchangeable for, shares of any other class or classes or of any other series of the same or any other class or classes, including
    the price or prices or the rate or rates of conversion or exchange and the terms of adjustment, if any; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">any other designations, preferences, and relative, participating, optional or other special rights, and qualifications, limitations or restrictions thereof, so far as they are not inconsistent with the provisions of our articles of incorporation and to the full extent now or hereafter permitted under Pennsylvania law.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Terms</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">You should read the applicable prospectus supplement
relating to the particular series of preferred stock being offered and issued and the related statement with respect to shares for specific
terms of the shares of preferred stock of such series, including, where applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 92%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the title of the series, stated value and liquidation preferences, the
    number of shares constituting the series and the number of shares of the series that are being offered;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the price or other consideration for which the shares will be issued;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the dividend rate(s) (or method of calculation), the dividend periods,
    the dates on which dividends shall be payable and whether the dividends will be cumulative or noncumulative and, if cumulative, the dates
    at which the dividends shall begin to cumulate, and the participating and other rights, if any, with respect to dividends;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the redemption or sinking fund provisions, if any;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">whether the shares will be convertible into, or exchangeable for, shares of any other class or series and, if so, the provisions relating to conversion or exchange rights;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the voting powers, full or limited, if any, of the shares offered; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">such other powers, preferences, rights, qualifications, limitations and restrictions thereof as our Board may deem advisable.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">When we issue shares of preferred stock, the shares
will be fully paid and nonassessable, which means the full purchase price of the shares will have been paid and holders of the shares
will not be assessed any additional monies for the shares. Unless the applicable prospectus supplement indicates otherwise, each series
of the preferred stock will rank equally with any outstanding shares of our preferred stock and each other series of the preferred stock.
Unless the applicable prospectus supplement states otherwise, the preferred stock will have no preemptive rights to subscribe for any
additional securities which are issued by us, meaning, the holders of shares of preferred stock will have no right to buy any portion
of the issued securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In addition, unless the applicable prospectus supplement
indicates otherwise, we will have the right to &ldquo;reopen&rdquo; a previous issue of a series of preferred stock by issuing additional
preferred stock of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The transfer agent, registrar, dividend disbursing
agent, calculation agent and redemption agent for shares of each series of preferred stock will be named in the prospectus supplement
relating to such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Dividends</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The holders of the preferred stock of each series will
be entitled to receive cash dividends out of funds legally available, when, as and if, declared by our board of directors or a duly authorized
committee of the board, at the rates and on the dates stated in the applicable prospectus supplement. These rates may be fixed, or variable,
or both. If the dividend rate is variable, the applicable prospectus supplement will describe the formula used to determine the dividend
rate for each dividend period. We will pay dividends to the holders of record as they appear on our stock books on the record dates determined
by our board of directors or an authorized committee of our board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Voting Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Holders of shares of preferred stock will have no voting
rights, except as (i) otherwise stated in the applicable prospectus supplement, (ii) as otherwise stated in the statement with respect
to shares establishing such series or (iii) as required by applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under Federal Reserve Board regulations, if the holders
of any series of preferred stock become entitled to vote for the election of directors, that series may then be considered a class of
voting securities. A holder of 25% or more of a series may then be subject to regulation as a savings and loan holding company under the
Home Owners Loan Act or a bank holding company under the Bank Holding Company Act, depending on the nature of the holder. In addition,
at the time that the series are deemed a class of voting securities, any bank holding company or savings and loan holding company may
be required to obtain the prior approval of the Federal Reserve Board in order to acquire more than 5% of that series, and any person
other than a savings and loan or a bank holding company may be required to obtain the prior approval of the Federal Reserve Board to acquire
10% or more of that series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Redemption</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A series of the preferred stock may be redeemable,
in whole or in part, at our option, and may be subject to mandatory redemption under a sinking fund or otherwise as described in the applicable
prospectus supplement. If a series of preferred stock is redeemable at our option, that applicable prospectus supplement will specify
the conditions to such redemption and any restrictions, whether pursuant to the terms of the preferred stock or other securities or obligations
of our, or pursuant to regulatory requirements, on our ability to redeem. If a series of preferred stock is subject to mandatory redemption,
the applicable prospectus supplement will specify the number of shares that we will redeem, the time or times for such redemption, the
redemption price per share and other obligations of ours in connection with the redemption. In each case, the applicable prospectus supplement
will indicate whether the redemption price can be paid in cash or other property. Unless we default in the payment of the redemption price,
dividends will cease to accrue after the redemption date on shares of preferred stock called for redemption and all rights of holders
of such shares will terminate except for the right to receive the redemption price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Conversion and Exchange</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If any series of preferred stock we propose to offer
and issue is convertible into or exchangeable for any other class or series of our capital stock or any other securities of ours, the
applicable prospectus supplement relating to that series will describe the terms and conditions governing the conversions and exchanges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Liquidation Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If we voluntarily or involuntarily liquidate, dissolve
or wind up our business, the holders of shares of each series of preferred stock and any other securities that have rights equal to that
series of preferred stock under these circumstances, will be entitled to receive out of our assets that are available for distribution
to stockholders a distribution in the amount provided in statement with respect to shares and will receive such distributions (if any)
before any distribution to holders of common stock or of any securities ranking junior to the series of preferred stock. If our assets
are insufficient to pay all amounts to which holders of preferred stock are entitled, we will make no distribution on the preferred stock
or on any other securities ranking equal to the preferred stock unless we make a pro rata distribution to those holders. After we pay
the full amount of the liquidation distribution to which the holders are entitled, the holders will have no right or claim to any of our
remaining assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unless otherwise stated in the applicable prospectus
supplement or the related statement with respect to shares, neither the sale of all or any part of our property and business, nor our
merger into or consolidation with any other corporation, nor the merger or consolidation of any other corporation with or into us, will
be deemed to be a dissolution, liquidation or winding up.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="descriptionofdebt"></A><B>DESCRIPTION OF DEBT SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">The following description, together with the
additional information we may include in any applicable prospectus supplements, summarizes the material terms and provisions of the debt
securities that we may offer under this prospectus. We may offer debt securities which may be senior or subordinated. While the terms
summarized below will apply generally to any debt securities that we may offer, we will describe the particular terms of any debt securities
we offer in more detail in the applicable prospectus supplement. If we indicate in the prospectus supplement, the terms of any debt securities
offered under that prospectus supplement may differ from the terms described below. The applicable senior or subordinated indenture, the
applicable supplemental indenture and the form of debt security relating to a particular offering of debt securities have been or will
be incorporated by reference as exhibits to the registration statement of which this prospectus forms a part. We urge you to read the
applicable prospectus supplement and any related free writing prospectus, as well as the applicable indenture and supplemental indenture
that contains the specific terms of the debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">We may issue senior debt securities from time
to time, in one or more series under a senior indenture that we have entered into with a trustee, which we refer to as the &ldquo;senior
trustee&rdquo; or in another senior indenture we may enter into in the future with a senior trustee. We may issue subordinated debt securities
from time to time, in one or more series under a subordinated indenture that we have entered into with a trustee, which we refer to as
the &ldquo;subordinated trustee&rdquo; or in another subordinated indenture we may enter into in the future with a subordinated trustee.
The senior indenture and subordinated indenture are incorporated by reference as exhibits to the registration statement of which this
prospectus forms a part. Together, the senior indenture and the subordinated indenture are referred to as the &ldquo;indentures&rdquo;
and, together, the senior trustee and the subordinated trustee are referred to as the &ldquo;trustees.&rdquo; This prospectus briefly
outlines some of the provisions of the indentures. The below summary of the material provisions of the indentures is qualified in its
entirety by the provisions of the indentures, including definitions of certain terms used in the indentures. Wherever we refer to particular
sections or defined terms of the indentures, those sections or defined terms are incorporated by reference in this prospectus or the applicable
prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">Customers Bancorp is a bank holding company and
almost all of our operating assets are owned by Customers Bank. We are a legal entity separate and distinct from Customers Bank. We rely
primarily on dividends from Customers Bank to meet our obligations. There are regulatory limitations on the payment of dividends directly
or indirectly to us from Customers Bank. Accordingly, our debt securities will be effectively subordinated to all existing and future
liabilities of Customers Bank, and holders of our debt securities should look only to our assets for payments of the debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">As used in this section only, &ldquo;Customers,&rdquo;
&ldquo;Customers Bancorp,&rdquo; the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;our&rdquo; or &ldquo;us&rdquo; refer to Customers Bancorp,
Inc., excluding our subsidiaries, unless expressly stated or the context otherwise requires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The indentures do not limit the aggregate principal
amount of debt securities that we may issue and provide that we may issue debt securities under the indentures from time to time in one
or more series. We may from time to time, without giving notice to or seeking the consent of the holders of the debt securities of any
series, issue debt securities having the same ranking and the same terms (other than the public offering price, issue date, payment of
interest accruing prior to the issue date and, under some circumstances, the first interest payment date) as the debt securities of a
previously issued series. Any additional debt securities having such identical terms, together with the debt securities of the applicable
series previously issued, will constitute a single series of debt securities under the applicable indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As of September 2, 2025, Customers Bancorp
has outstanding two series of senior and subordinated debt securities: (i) 2.875% fixed-to-floating senior notes due 2031, and (ii) 5.375%
subordinated notes due 2034. Each of these series of notes were issued pursuant to an indenture and a supplemental indenture that define
the terms of such notes, and such indentures and supplemental indentures have been incorporated by reference as exhibits to the registration
statement of which this prospectus is a part. You should refer to those indentures and supplemental indentures for the specific terms
applicable to these outstanding notes, which may be important to you. In addition, as of September 2, 2025, Customers Bank has
outstanding 6.125% fixed-to-floating subordinated notes due 2029. These notes were issued pursuant to a note subscription agreement dated
June 24, 2014 that defines the terms of such notes, and such notes subscription agreement has been incorporated by reference as an exhibit
to the registration statement of which this prospectus is a part. You should refer to the note purchase agreement for the specific terms
applicable to these outstanding notes, which may be important to you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unless otherwise provided in a prospectus supplement,
the senior debt securities we issue will be our unsecured obligations and will rank equally with all of our other unsecured and unsubordinated
indebtedness from time to time outstanding. The subordinated debt securities we issue will be our unsecured obligations and will be subordinated
in right of payment to the prior payment in full of all of our senior indebtedness, which term includes senior debt securities, as described
below under &ldquo;&mdash;Subordination.&rdquo; In certain events of insolvency, the subordinated debt securities will also be subordinated
to certain other financial obligations, as described below under &ldquo;&mdash;Subordination.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">You should read the applicable prospectus supplement
relating to the particular debt securities being offered and issued for specific terms, including, where applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the title and type of the debt securities;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the aggregate principal amount of the debt securities being offered, the
    aggregate principal amount of the debt securities outstanding as of the most recent practicable date and any limit on their aggregate
    principal amount, including the aggregate principal amount of debt securities authorized;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the price at which the debt securities will be issued, which may be expressed
    as a percentage of the principal;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the date or dates, or the method for determining the date or dates, on
    which the principal of the debt securities will be payable;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the interest rates, if any, which rate may be zero if the debt securities
    are issued at a discount from the principal amount payable at maturity, or the method by which the interest rates will be determined,
    including, if applicable, any remarketing option or similar method;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the date or dates from which interest, if any, will accrue or the method
    by which the date or dates will be determined;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the interest payment dates and the record dates for interest payment dates,
    or the method by which such dates will be determined;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the persons to whom interest will be payable;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the place or places where the principal of, and any premium or interest
    on, the debt securities will be payable, where any debt securities may be surrendered for registration of transfer or exchange, and where
    any debt securities may be surrendered for conversion or exchange;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">where notices or demands to or upon us in respect of the debt securities
    and the applicable indenture may be served;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">whether any of the debt securities are to be redeemable at our option and,
    if so, the date or dates on which, the period or periods within which, the price or prices at which and the other terms and conditions
    upon which they may be redeemed, in whole or in part;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">whether we will be obligated to redeem or purchase any of the debt securities
    pursuant to any sinking fund or analogous provision or at the holder&rsquo;s option, and, if so, the dates or prices and the other terms
    on which the debt securities must be redeemed or purchased pursuant to this obligation and any provisions for the remarketing of the debt
    securities so redeemed or purchased;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">whether the debt securities will be convertible into our common or preferred
    stock and/or exchangeable for other securities of ours and, if so, the terms and conditions upon which the debt securities will be convertible
    or exchangeable;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">if other than United States dollars, the currency of payment in which the
    principal of, and any premium or interest on, the debt securities will be paid;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">if other than the principal amount, the portion of the principal amount,
    or the method by which the portion will be determined, of the debt securities that will be payable upon declaration of acceleration of
    the maturity of the debt securities;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">whether the principal of, and any premium or interest on, the debt securities
    will be payable, at our or the holder&rsquo;s election, in a currency other than that in which the debt securities are stated to be payable,
    and the dates and the other terms upon which this election may be made;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">any index, formula or other method used to determine the amount of principal
    of, and any premium or interest on, the debt securities;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">whether the debt securities are to be issued in the form of one or more
    global securities and, if so, the identity of the depositary for the global security or securities;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">whether the debt securities are senior or subordinated and, if subordinated,
    the applicable subordination provisions;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">in the case of subordinated debt securities, the relative degree, if any,
    to which the subordinated debt securities will be senior to or be subordinated to other series of subordinated debt securities or other
    indebtedness of ours in right of payment, whether the other series of subordinated debt securities or other indebtedness is outstanding
    or not;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">any provisions relating to any security provided for the debt securities;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">whether the debt securities will be guaranteed as to payment or performance;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">any addition to, deletion of or change in the &ldquo;events of default&rdquo;
    described in this prospectus or in the indentures with respect to the debt securities and any change in the acceleration provisions described
    in this prospectus or in the applicable indenture with respect to the debt securities;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">any addition to, deletion of or change in the covenants described in this
    prospectus or in the applicable indenture with respect to the debt securities;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the applicability, if any, of the defeasance and covenant defeasance provisions
    described in this prospectus or in the applicable indenture;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">whether any of the debt securities are to be issued upon the exercise of
    warrants and the time, manner and place for the debt securities to be authenticated and delivered;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">whether and under what circumstances we will pay any additional amounts
    on the debt securities in respect of any tax, assessment or governmental charge;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the name of the applicable trustee and the nature of any material relationship
    with us or any of our affiliates, and the percentage of debt securities of the class necessary to require the trustee to take action;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the names of any depositaries, security registrars, interest rate calculation
    agents, exchange rate calculation agents or other agents with respect to the debt securities; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">any other terms of the debt securities, which may supplement, modify or delete any provision of the applicable indenture as it applies to that series, including any terms that may be required under applicable law or regulations or advisable in connection with the offer and sale of the securities.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">We may issue debt securities that provide for
less than the entire principal amount thereof to be payable upon declaration of acceleration of the maturity of the debt securities. We
refer to any such debt securities throughout this prospectus as &ldquo;original issue discount securities.&rdquo; The applicable prospectus
supplement will describe the United States federal income tax consequences and other relevant considerations applicable to original issue
discount securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">Except as described under &ldquo;&mdash;Consolidations,
Mergers and Sales of Assets&rdquo; or as may be set forth in any prospectus supplement, the debt securities will not contain any provisions
that (i) would limit our ability to incur indebtedness or (ii) would afford holders of debt securities protection in the event of (a)
a highly leveraged or similar transaction involving us, or (b) a change of control or reorganization, restructuring, merger or similar
transaction involving us that may adversely affect the holders of the debt securities. In the future, we may enter into transactions,
such as the sale of all or substantially all of our assets or a merger or consolidation, that may have an adverse effect on our ability
to service our indebtedness, including the debt securities, by, among other things, substantially reducing or eliminating our assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">We will provide you with more information in
the applicable prospectus supplement regarding any deletions, modifications, or additions to the events of default or covenants that are
summarized below, including any addition of a covenant or other provision providing event risk or similar protection.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">Unless otherwise set forth in the applicable
prospectus supplement, the entity acting as trustee will also act as the paying agent. We may designate additional paying agents, rescind
the designation of any paying agent or approve a change in the office through which any paying agent acts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">Unless otherwise set forth in the applicable
prospectus supplement, holders may present the debt securities for transfer, duly endorsed or accompanied by a written instrument of transfer
if so required by us or the security registrar, or exchange for other debt securities of the same series containing identical terms and
provisions, in any authorized denominations, and of a like aggregate principal amount, in each case at the office or agency maintained
by us for this purpose, which will initially be the corporate trust office of the trustee. Any transfer or exchange will be made without
service charge, although we may require payment of a sum sufficient to cover any tax or other governmental charge and any other expenses
then payable. Neither we nor the trustee or the registrar is required to issue, register the transfer of, or exchange debt securities
during a period beginning at the opening of business 15 days before the day of mailing of a notice of redemption of any debt securities
and ending at the close of business on the day of mailing or register the transfer of or exchange any debt security selected for redemption,
in whole or in part, except the unredeemed portion of any debt security being redeemed in part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">If the purchase price, or the principal of, or
any premium or interest on, any debt securities is payable in, or if any debt securities are denominated in, one or more foreign currencies
or currency units, the restrictions, elections, U.S. Federal income tax considerations, specific terms and other information will be set
forth in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.5pt 0 0"><B>Conversion and Exchange</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-indent: 0.5in">The terms, if any, on which debt securities
are convertible into or exchangeable for, either mandatorily or at our or the holder&rsquo;s option, property or cash, common stock, preferred
stock or other securities of ours, or a combination of any of these, will be set forth in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.5pt 0 0"><B>Global Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-indent: 0.5in">The debt securities may be issued, in whole
or in part, in the form of one or more global securities that will be deposited with, or on behalf of, a depositary identified in the
applicable prospectus supplement and registered in the name of the depositary or its nominee. Interests in any global debt security will
be shown on, and transfers of the debt securities will be effected only through, records maintained by the depositary and its participants.
The specific terms of the depositary arrangement will be described in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Subordination</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-indent: 0.5in">Under the subordinated indenture, payment of
the principal, interest and any premium on the subordinated debt securities will generally be subordinated and junior in right of payment
to the prior payment in full of all Senior Indebtedness (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-indent: 0.5in">&ldquo;<FONT STYLE="letter-spacing: 0.2pt">Senior
Indebtedness&rdquo;</FONT> <FONT STYLE="letter-spacing: 0.1pt">i</FONT>s <FONT STYLE="letter-spacing: 0.1pt">define</FONT>d <FONT STYLE="letter-spacing: 0.1pt">t</FONT>o
<FONT STYLE="letter-spacing: 0.1pt">includ</FONT>e <FONT STYLE="letter-spacing: 0.1pt">principa</FONT>l <FONT STYLE="letter-spacing: 0.1pt">o</FONT>f
<FONT STYLE="letter-spacing: 0.1pt">(an</FONT>d <FONT STYLE="letter-spacing: 0.1pt">premium</FONT>, <FONT STYLE="letter-spacing: 0.1pt">i</FONT>f
<FONT STYLE="letter-spacing: 0.1pt">any</FONT>) <FONT STYLE="letter-spacing: 0.1pt">an</FONT>d <FONT STYLE="letter-spacing: 0.1pt">interest</FONT>,
<FONT STYLE="letter-spacing: 0.1pt">i</FONT>f <FONT STYLE="letter-spacing: 0.1pt">any</FONT>, <FONT STYLE="letter-spacing: 0.1pt">on</FONT>,
<FONT STYLE="letter-spacing: 0.1pt">an</FONT>d <FONT STYLE="letter-spacing: 0.1pt">an</FONT>y <FONT STYLE="letter-spacing: 0.1pt">othe</FONT>r
<FONT STYLE="letter-spacing: 0.1pt">paymen</FONT>t <FONT STYLE="letter-spacing: 0.1pt">du</FONT>e <FONT STYLE="letter-spacing: 0.1pt">pursuant
</FONT><FONT STYLE="letter-spacing: 0.05pt">to</FONT>, <FONT STYLE="letter-spacing: 0.05pt">an</FONT>y <FONT STYLE="letter-spacing: 0.05pt">o</FONT>f
<FONT STYLE="letter-spacing: 0.05pt">th</FONT>e <FONT STYLE="letter-spacing: 0.05pt">following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 93%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">our obligations for money borrowed;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">indebtedness evidenced by bonds, debentures, notes or similar instruments;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">similar obligations arising from off-balance sheet guarantees and direct credit substitutes;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">reimbursement obligations with respect to letters of credit, bankers&rsquo; acceptances or similar facilities;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">obligations issued or assumed as the deferred purchase price of property or services (but excluding trade accounts payable or accrued liabilities arising in the ordinary course of business);</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">capital lease obligations;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">obligations associated with derivative products, including but not limited to securities contracts, foreign currency exchange contracts, swap agreements (including interest rate and foreign exchange rate swap agreements), cap agreements, floor agreements, collar agreements, interest rate agreements, foreign exchange rate agreements, options, commodity futures contracts, commodity option contracts and similar financial instruments;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">debt of others described in the preceding clauses that we have guaranteed or for which we are otherwise liable;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">any deferrals, renewals or extensions of debt, guarantees or other liabilities described in the preceding clauses; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">General Obligations (as defined below);</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: 0.05pt">unless, in any case, in the instrument
creating or evidencing any such indebtedness or obligation, or pursuant to which the same is outstanding, it is expressly provided that
such indebtedness or obligation is not superior in right of payment to any subordinated debt securities or to other debt that is <I>pari
passu</I> with or subordinate to the subordinated debt securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10pt"><FONT STYLE="letter-spacing: 0.05pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10pt"><FONT STYLE="letter-spacing: 0.05pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10pt"><FONT STYLE="letter-spacing: 0.05pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10pt"><FONT STYLE="letter-spacing: 0.05pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: 0.05pt">Senior Indebtedness does not include:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 92%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">indebtedness owed by us to Customers Bank or any other subsidiaries of ours; or</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">any indebtedness the terms of which expressly provide that such indebtedness ranks equally with, or junior to, the subordinated debt securities or to other debt that is equal with or junior to the subordinated debt securities, including guarantees of such indebtedness.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;General Obligations&rdquo; are defined as all
of our obligations to pay claims of general creditors, other than obligations on subordinated debt securities and our indebtedness for
money borrowed ranking equally or subordinate to the subordinated debt securities. Notwithstanding the foregoing, if the Federal Reserve
(or other competent regulatory agency or authority) promulgates any rule or issues any interpretation that defines general creditor(s),
the main purpose of which is to establish a criteria for determining whether the subordinated debt of a bank holding company is to be
included in its capital, then the term &ldquo;General Obligations&rdquo; will mean obligations to general creditors as described in that
rule or interpretation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If certain events in bankruptcy, insolvency or reorganization
occur, we will first pay all Senior Indebtedness, including any interest accrued after the events occur, in full before we make any payment
or distribution, whether in cash, securities or other property, on account of the principal of or interest on any subordinated debt securities.
In such an event, we will pay or deliver directly to the holders of Senior Indebtedness any payment or distribution otherwise payable
or deliverable to holders of any subordinated debt securities. We will make the payments to the holders of Senior Indebtedness according
to priorities existing among those holders until we have paid all Senior Indebtedness, including accrued interest, in full. If, notwithstanding
the preceding sentence, the subordinated trustee or the holder of any subordinated debt securities receives any payment or distribution
before all Senior Indebtedness is paid in full, and if such fact shall, at or prior to the time of such payment or distribution, have
been made known to the subordinated trustee or such holder, then such payment or distribution shall be paid over or delivered for application
to the payment of all Senior Indebtedness remaining unpaid, to the extent necessary to pay all Senior Indebtedness in full, after giving
effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If such events of bankruptcy, insolvency or reorganization
occur, after we have paid in full all amounts owed on Senior Indebtedness, the holders of subordinated debt securities together with the
holders of any of our other obligations that rank equally with the subordinated debt securities will be entitled to receive from our remaining
assets any principal, premium or interest due at that time on the subordinated debt securities and such other obligations before we make
any payment or other distribution on account of any of our capital stock or obligations ranking junior to the subordinated debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In addition, if any principal, premium or interest
in respect of Senior Indebtedness is not paid within any applicable grace period (including at maturity) or any other default on Senior
Indebtedness occurs and the maturity of such Senior Indebtedness is accelerated in accordance with its terms, we may not pay the principal
of, or interest on, the subordinated debt securities or repurchase, redeem or otherwise retire any subordinated debt securities, unless,
in each case, the default has been cured or waived and any such acceleration has been rescinded or such Senior Indebtedness has been paid
in full in cash, subject to certain exceptions as provided in the Indenture. If the subordinated debt securities are accelerated before
their stated maturity, the holders of Senior Indebtedness outstanding at the time the subordinated debt securities so become due and payable
shall be entitled to receive payment in full of all amounts due or to become due on or in respect of such Senior Indebtedness before the
holders of the subordinated debt securities are entitled to receive any payment on the subordinated debt securities. If, notwithstanding
the foregoing, we make any payment to the subordinated trustee or the holder of any subordinated debt securities prohibited by the preceding
sentences, and if such fact shall, at or prior to the time of such payment, have been made known to the subordinated trustee or such holder,
such payment must be paid over and delivered to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">The indentures do not limit the amount of Senior
Indebtedness that we may incur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.5pt 0 0"><B>Events of Default, Waiver<BR>
<BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under the indentures, unless and to the extent modified
by a supplemental indenture, an event of default will occur with respect to the debt securities upon the occurrence of any one of the
following events:<BR>
<BR>
</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 92%"><FONT STYLE="font-size: 10pt">our default in the payment of any interest on the debt securities when due, and continuance of such default for a period of 30 days;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">our default in the payment of any principal on the debt securities when due and payable either at maturity, upon any redemption, upon acceleration of maturity or otherwise;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">our failure to perform any other covenant or agreement contained in the debt securities or in the indenture and the continuance of such failure for a period of 90 days after notice specifying such failure and demanding that we remedy the same is given to us by the applicable trustee, or to us and the applicable trustee by the holders of at least 25% in aggregate principal amount of the then outstanding applicable debt securities;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">a court having jurisdiction enters a decree or order for relief in respect of us or a material subsidiary in an involuntary case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law, or a decree or order adjudging us or a material subsidiary bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of or in respect of us or a material subsidiary under any applicable federal or state law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or other similar official of us or a material subsidiary or for any substantial part of our or such material subsidiary&rsquo;s property, or ordering the winding-up or liquidation of our or such material subsidiary&rsquo;s affairs, shall have been entered, and such decree or order remains unstayed and in effect for a period of 60 consecutive days;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">we or a material subsidiary commences a voluntary case or proceeding under any applicable federal or state bankruptcy, insolvency, reorganization or other similar law now or hereinafter in effect or any other case or proceeding to be adjudicated bankrupt or insolvent, or consent to the entry of a decree or order for relief in respect of us or a material subsidiary in an involuntary case or proceeding under any such law, or to the commencement of any bankruptcy or insolvency case or proceeding against us or a material subsidiary, or the filing by us or a material subsidiary of a petition or answer to consent seeking reorganization or relief under any such applicable federal or state law, or the consent by us or a material subsidiary to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of us or a material subsidiary or of any substantial part of our or its property, or the making by us or a material subsidiary of an assignment for the benefit of creditors, or the taking of action by us or a material subsidiary in furtherance of any such action; or</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">we or a material subsidiary defaults under any bond, debenture, note or other evidence of indebtedness for money borrowed by us or a material subsidiary having an aggregate principal amount outstanding of at least $25,000,000, or under any mortgage, indenture or instrument (including the Indenture) under which there may be issued or by which there may be secured or evidenced any indebtedness for money borrowed by us or a material subsidiary having an aggregate principal amount outstanding of at least $25,000,000, whether such indebtedness now exists or is created in the future, which default (i) constitutes a failure to pay any portion of the principal of such indebtedness when due and payable after the expiration of any applicable grace period or (ii) results in such indebtedness becoming due or being declared due and payable prior to the date on which it otherwise would have become due and payable without, in the case of clause (i), such indebtedness having been discharged or, in the case of clause (ii), without such indebtedness having been discharged or such acceleration having been rescinded or annulled.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A &ldquo;material subsidiary&rdquo; means Customers
Bank or any successor thereof, or any of our subsidiaries that is a depository institution and that has consolidated assets equal to 30%
or more of our consolidated assets. As of the date of this prospectus, our only material subsidiary is Customers Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If an event of default, other than an event of default
relating to bankruptcy, insolvency, reorganization or similar events of the Company with respect to the applicable debt securities occurs
and is continuing, the applicable trustee or the holders of at least 25% in aggregate principal amount of the then outstanding applicable
debt securities, by notice to us (with a copy to the applicable trustee if such notice is given by the holders), may declare the entire
principal amount of and all accrued but unpaid interest on all the applicable debt securities to be due and payable immediately. Subject
to certain conditions, the holders of a majority in aggregate principal amount of the outstanding applicable debt securities may on behalf
of the holders of all of the applicable debt securities rescind such acceleration and its consequences if such rescission would not conflict
with any judgment or decree of a court of competent jurisdiction. If an event of default relating to bankruptcy, insolvency, reorganization
or similar events of the Company occurs, the entire principal amount of and all accrued but unpaid interest on all the applicable debt
securities will automatically become immediately due and payable without any declaration or other action on the part of the applicable
trustee or any holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The indentures also provide that the holders of a majority
in aggregate principal amount of the applicable debt securities may on behalf of the holders of all of such debt securities waive any
existing default or event of default with respect to such debt securities and its consequences, except a continuing default or event of
default in the payment of the principal of or interest on the debt securities or in respect of a covenant or provision of the applicable
indenture which cannot be amended or modified without the consent of all holders of the applicable debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The holders of not less than a majority in aggregate
principal amount of the applicable debt securities may direct the time, method and place of conducting any proceeding for exercising any
remedy available to the applicable trustee or exercising any trust or power conferred on such trustee with respect to such debt securities,
subject to the trustee's right to receive indemnity satisfactory to it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Except to enforce the right to receive payment of principal
or interest, when due, no holder of debt securities may pursue any remedy with respect to the indenture applicable to such holder's debt
securities unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 92%"><FONT STYLE="font-size: 10pt">such holder has previously given the applicable trustee written notice of a continuing event of default with respect to such debt securities;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">the holders of at least 25% in aggregate principal amount of the then outstanding applicable debt securities have made a written request to the applicable trustee to pursue the remedy with respect to such default in its own name as such trustee under such indenture;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">such holders offer and provide to the applicable trustee security or indemnity acceptable to such trustee against any costs, expenses and liabilities to be incurred in compliance with such request;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">the applicable trustee has not complied with such request within 60 days after receipt of the request and the offer and the provision of security or indemnity acceptable to such trustee; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">the holders of a majority in aggregate principal amount of the then outstanding applicable debt securities do not give the trustee a direction inconsistent with the request within such 60-day period.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Satisfaction and Discharge</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The applicable indenture will be discharged and will
cease to be of further effect as to all debt securities issued pursuant to such indenture, when:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(1) either:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(i) all such debt securities that have been authenticated,
except lost, stolen or destroyed debt securities that have been replaced or paid and such debt securities for whose payment money has
been deposited in trust and thereafter repaid to us or discharged from such trust, have been delivered to the applicable trustee for cancellation;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(ii) all such debt securities not previously delivered
to the applicable trustee for cancellation have become due and payable by reason of the mailing of a notice of redemption or otherwise,
or will become due and payable within one year and we have irrevocably deposited with the applicable trustee (or the paying agent if other
than the trustee), in trust, for the benefit of the holders of the debt securities, cash in United States dollars, non-callable government
securities or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent
public accountants, to pay and discharge the entire indebtedness on the applicable debt securities not delivered to the trustee for cancellation
for principal and accrued interest, to the date of maturity or redemption;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(2) we have paid or caused to be paid all sums payable
by us under the applicable indenture with respect to the debt securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(3) we have delivered irrevocable instructions to the
applicable trustee to apply the deposited money toward the payment of the debt securities at maturity or on the redemption date, as the
case may be; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(4) we have delivered to the applicable trustee an
officers&rsquo; certificate and an opinion of counsel stating that the conditions precedent to the satisfaction and discharge of the debt
securities have been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Legal Defeasance and Covenant Defeasance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Legal Defeasance</I>. We will be deemed to have
paid and will be discharged from any and all obligations in respect of a series of debt securities and the related indenture on the 91st
day after we have made the deposit referred to below, and the provisions of such indenture will cease to be applicable with respect to
such debt securities (except for, among other matters, certain obligations to register the transfer of or exchange of such debt securities,
to replace stolen, lost or mutilated debt securities, to maintain paying agencies and to hold funds for payment in trust) if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(1) we have irrevocably deposited with the applicable
trustee, in trust, for the benefit of the holders of such debt securities, cash in United States dollars, non-callable government securities,
or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public
accountants, to pay the principal of and accrued interest on such debt securities at the time such payments are due in accordance with
the terms of the applicable indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(2) we have delivered to the applicable trustee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(i) an opinion of counsel to the effect that holders
of such debt securities will not recognize income, gain or loss for U.S. federal income tax purposes as a result of the defeasance and
will be subject to U.S. federal income tax on the same amounts and in the same manner and at the same times as would have been the case
if such defeasance had not occurred, which opinion of counsel must be based upon a ruling of the U.S. Internal Revenue Service, referred
to as the IRS, to the same effect or a change in applicable U.S. federal income tax law or related treasury regulations after the date
of the applicable indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(ii) an opinion of counsel confirming that, among other
things, the defeasance trust does not constitute an &ldquo;investment company&rdquo; within the meaning of the Investment Company Act
of 1940, as amended; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(iii) an opinion of counsel to the effect that (subject
to customary qualifications and assumptions) after the 91st day following the deposit, the trust funds will not be subject to the effect
of any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors&rsquo; rights generally;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(3) no default (as defined above) or event of default
with respect to such debt securities will have occurred and be continuing on the date of such deposit, or insofar as events of default
due to certain events of bankruptcy, insolvency or reorganization in respect of us are concerned, during the period ending on the 91st
day after the date of such deposit, and such deposit shall not (i) cause the applicable trustee to have a conflicting interest within
the meaning of the Trust Indenture Act in respect of such debt securities or (ii) result in a breach or violation of, or constitute a
default under, any material agreement or instrument (other than the applicable indenture) to which we are a party or by which we are bound;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(4) we have delivered to the applicable trustee an
officers&rsquo; certificate stating that the deposit was not made by us with the intent of preferring the holders of such debt securities
over any other creditors of ours or with the intent of defeating, hindering, delaying or defrauding any other creditors of ours;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(5) we have delivered to the applicable trustee an
officers&rsquo; certificate and an opinion of counsel, each stating that, subject to customary assumptions and exclusions, all conditions
precedent provided for or relating to the defeasance have been complied with; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(6) the applicable trustee shall have received such
other documents, assurances and opinions of counsel as such trustee shall have reasonably required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Covenant Defeasance</I>. We will not need to comply
with the restrictive covenants described in any prospectus supplement with respect to a series of debt securities and other covenants
relating to, among other matters, our furnishing of periodic reports under the Exchange Act, our maintenance of our corporate existence
and the maintenance of our properties, and the applicable provisions of an indenture, if any, will cease to be applicable with respect
to an event of default under the debt securities other than an event of default due to our failure to pay the principal of or interest
on the notes when due, upon:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(1) the satisfaction of the conditions described in
clauses 1, 2(ii), 2(iii), 3, 4 and 5 under &ldquo;&mdash;<I>Legal Defeasance</I>;&rdquo; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(2) our delivery to the applicable trustee of an opinion
of counsel confirming that, subject to customary assumptions and exclusions, the holders of such debt securities will not recognize income,
gain or loss for U.S. federal income tax purposes as a result of such covenant defeasance and will be subject to U.S. federal income tax
on the same amount and in the same manner and at the same times as would have been the case if such covenant defeasance had not occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If we exercise our option to omit compliance with certain
provisions of an applicable indenture as described in the immediately preceding paragraph and such debt securities are declared due and
payable because of the occurrence of an event of default that remains applicable, the amount of money and/or non-callable government securities
on deposit with the applicable trustee may not be sufficient to pay amounts due on such debt securities at the time of acceleration resulting
from such event of default. In such event, we will remain liable for such payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0"><B>Supplemental Indentures/Amendments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Except as set forth below, we and the trustee under
the applicable indenture may enter into an indenture supplemental to such indenture, with the consent of the holders of not less than
a majority in principal amount of the debt securities then outstanding and affected by such amendment, voting as a single class. However,
without the consent of each affected holder of such debt securities, an amendment may not:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 92%"><FONT STYLE="font-size: 10pt">reduce the principal amount of such debt securities;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">reduce the rate of or extend the time for payment of interest on such debt securities;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">reduce the principal of or change the maturity date of such debt securities;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">reduce the amount of the principal which would be due and payable upon an acceleration of the stated maturity thereof;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 92%"><FONT STYLE="font-size: 10pt">waive a default or event of default in the payment of the principal or interest on any such debt securities (except a rescission of acceleration of such debt securities, where permitted, by the holders of at least a majority in principal amount of such debt securities outstanding and a waiver of the payment default that resulted from such acceleration);</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">make any such debt securities payable in money other than those stated in such debt securities;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">waive a redemption payment with respect to such debt securities;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">impair the right of any holder to institute suit for the enforcement of any payment with respect to such debt securities; or</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">make any changes to the sections of the applicable indenture regarding waiver of past defaults, the unconditional rights of holders to receive payment or the prohibition on amendments reducing the principal amount of or interest on, or extending the time for payment on, any such debt securities without the consent of each affected holder.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We and the trustee under the applicable indenture may
enter into one or more indentures supplemental to the applicable indenture, without the consent of any holder of debt securities covered
by such indenture, for any of the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 92%"><FONT STYLE="font-size: 10pt">to cure any ambiguity, defect or inconsistency;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">to provide for the assumption of the Company&rsquo;s obligations to holders of such debt securities by a successor to the Company pursuant to the applicable indenture;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">to make any change that would provide any additional rights or benefits to the holders of such debt securities or that does not adversely affect the legal rights under the applicable indenture of any such holder;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">to provide for the issuance of and establish the form and terms and conditions of debt securities of any series as permitted by the applicable indenture;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">to comply with requirements of the SEC in order to effect or maintain the qualification of an indenture under the TIA;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">to conform the text of the applicable indenture or such debt securities to any provision of the description thereof set forth in this prospectus or any related prospectus supplement or term sheet;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">to add any guarantor or to provide any collateral to secure any such debt securities;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 92%"><FONT STYLE="font-size: 10pt">to add additional obligors under the applicable indenture and such debt securities; or</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">to evidence and provide for the acceptance of appointment hereunder by a successor trustee with respect to the debt securities of one or more series and to add to or change any of the provisions of the applicable indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Subject to the requirements for the holders to waive
a default and to pursue a remedy with respect to an indenture or the debt securities covered thereby and the rights of any holder of such
debt securities to receive payment of principal of and interest on such debt securities, holders of a majority in aggregate principal
amount of the applicable debt securities voting as a single class may waive compliance in a particular instance by us with any provision
of the applicable indenture or the debt securities covered thereby, except as otherwise stated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.5pt 0 0"><B>Consolidations, Mergers and Sales of Assets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-indent: 0.5in">We may not merge or consolidate with any other
corporation or sell or convey all or substantially all of our assets to any other corporation, unless either:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 92%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">we are the continuing corporation, or the successor corporation or the
    person that acquires all or substantially all of our assets is a corporation organized and existing under the laws of the United States
    or a state thereof or the District of Columbia and expressly assumes all our obligations under the outstanding debt securities and the
    indentures;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">immediately after giving effect to such merger, consolidation, sale, lease
    or conveyance there is no default (as defined above) or event of default under the indentures; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">we shall have delivered to the trustees an officers&rsquo; certificate and an opinion of counsel, each stating, among other things, that such transaction complies with the terms of the indentures and that all conditions precedent provided for in the indentures relating to such transaction have been complied with.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">Upon any such consolidation or merger, sale,
lease or conveyance, the successor corporation formed, or into which we are merged or to which such sale, conveyance or transfer is made,
shall succeed to, and be substituted for, us under the indentures with the same effect as if it had been an original party to the indentures.
As a result, we will be released from all our liabilities and obligations under the indentures and under the debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">There are no covenants or other provisions in
the indenture that would afford holders of debt securities additional protection in the event of a recapitalization transaction, a change
of control of us or a highly leveraged transaction. The merger covenant described above would only apply if the recapitalization transaction,
change of control or highly leveraged transaction were structured to include a merger or consolidation of us, or a sale or conveyance
or lease of all or substantially all of our assets. However, we may provide specific protections, such as a put right or increased interest,
for particular debt securities, that we would describe in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">Although there is a limited body of case law
interpreting the phrase &ldquo;substantially all&rdquo; and similar phrases, there is no precise established definition of the phrase
under applicable law. Accordingly, in certain circumstances there may be a degree of uncertainty as to whether a particular transaction
would involve &ldquo;substantially all&rdquo; of the property or assets of a person.<BR>
<BR>
<BR>
<B>Governing Law<BR>
<BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The indentures and debt securities will be governed
by and construed in accordance with the laws of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="depositaryshares"></A>DESCRIPTION OF DEPOSITARY SHARES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following description, together with the additional
information we may include in any applicable prospectus supplements, summarizes the material terms and provisions of the depositary shares
that we may offer under this prospectus and the related depository agreements and depository receipts. While the terms summarized below
will apply generally to any depositary shares that we may offer, we will describe the particular terms of any series of depositary shares
in more detail in the applicable prospectus supplement. If we indicate in the prospectus supplement, the terms of any depositary shares
offered under that prospectus supplement may differ from the terms described below. Specific depositary agreements and depositary receipts
relating thereto will contain additional important terms and provisions and will be incorporated by reference as an exhibit to the registration
statement, which includes this prospectus. We urge you to read the applicable prospectus supplement and any related free writing prospectus,
as well as the complete depositary agreements and depositary receipts certificates that contain the terms of the depositary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We may, at our option, elect to offer and issue fractional
shares of preferred stock rather than full shares of preferred stock. In such event, we will issue receipts for depositary shares, called
depositary receipts, each of which will represent a fraction of a share of a particular series of preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We will deposit the shares of any series of the preferred
stock underlying the depositary shares under a separate deposit agreement between us and a bank or trust company selected by us, known
as a depositary, having its principal office in the United States, and having a combined capital and surplus of at least $50 million.
The applicable prospectus supplement will provide the name and address of the depositary. Subject to the terms of the deposit agreement,
each owner of a depositary share will have a fractional interest in all the rights and preferences of the preferred stock underlying the
depositary share. These rights include any dividend, voting, redemption, conversion and liquidation rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The depositary shares will be evidenced by depositary
receipts issued pursuant to the deposit agreement. Depositary receipts will be distributed to those persons purchasing the fractional
shares of preferred stock in accordance with the terms of the applicable prospectus supplement and deposit agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">While the final depositary receipts are being prepared,
we may order the depositary, in writing, to issue temporary depositary receipts substantially identical to the final depositary receipts
although not in final form. This will entitle the holders to all the rights relating to the final depositary receipts. Final depositary
receipts will be prepared without unreasonable delay, and the holders of the temporary depositary receipts can exchange them for the final
depositary receipts at our expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Dividends and Other Distributions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The depositary will distribute all cash dividends or
other cash distributions received for the preferred stock (less any taxes required to be withheld) to the record holders of depositary
shares representing the preferred stock in proportion to the number of depositary shares that the holders own on the relevant record date.
The depositary will distribute only the amount that can be distributed without attributing to any holder of depositary shares a fraction
of one cent. The balance not distributed will be added to and treated as part of the next sum that the depositary receives for distribution
to record holders of depositary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If there is a distribution other than in cash, the
depositary will distribute property to the record holders of depositary shares that are entitled to it, unless the depositary determines
that it is not feasible to make this distribution. If this occurs, the depositary may, with our approval, sell the property and distribute
the net proceeds from the sale to the holders of depositary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Redemption of Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If a series of preferred stock represented by depositary
shares is to be redeemed, the depositary shares will be redeemed from the proceeds received by the depositary resulting from the redemption,
in whole or in part, of such series of preferred stock. The depositary shares will be redeemed by the depositary at a price per depositary
share equal to the applicable fraction of the redemption price per share payable in respect of the shares of preferred stock so redeemed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">From and after the date fixed for redemption, the depositary
shares called for redemption will no longer be outstanding. When the depositary shares are no longer outstanding, all rights of the holders
of depositary shares will cease, except the right to receive money or property that the holders of the depositary shares were entitled
to receive on redemption. The payments will be made when holders surrender their depositary receipts to the depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Conversion and Exchange</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unless the applicable prospectus supplement indicates
otherwise, the series of preferred stock underlying the depositary shares will not be convertible or exchangeable into any other class
or series of our capital stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><BR>
<BR>
<B>Withdrawal of Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If you surrender depositary receipts at the principal
corporate trust office of the depositary (unless the related depositary shares have previously been called for redemption), you are entitled
to receive at that office, should you so request, the number of shares of preferred stock and any money or other property represented
by the depositary shares. We will not issue partial shares of preferred stock. If you deliver a number of depositary receipts evidencing
a number of depositary shares that represent more than a whole number of depositary shares of preferred stock to be withdrawn, the depositary
will issue you a new depositary receipt evidencing the excess number of depositary shares at the same time that the preferred stock is
withdrawn. Holders of preferred stock will no longer be entitled to deposit these shares under the deposit agreement or to receive depositary
shares in exchange for those withdrawn shares of preferred stock. We cannot assure you that a market will exist for the withdrawn preferred
stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Voting Deposited Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Upon receipt of notice of any meeting at which the
holders of any series of deposited preferred stock are entitled to vote, the depositary will mail the information contained in such notice
of meeting to the record holders of the depositary shares relating to such series of preferred stock. Each record holder of such depositary
shares on the record date will be entitled to instruct the depositary to vote the amount of the preferred stock represented by such holder&rsquo;s
depositary shares. The depositary will try to vote the amount of such series of preferred stock represented by such depositary shares
in accordance with such instructions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We will agree to take all reasonable actions that the
depositary determines are necessary to enable the depositary to vote as instructed. The depositary will not vote any preferred stock if
it does not receive specific instructions from the holders of depositary shares relating to the preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Amendment and Termination of the Deposit Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unless otherwise provided in the applicable prospectus
supplement or required by law, the form of depositary receipt evidencing the depositary shares and any provision of the deposit agreement
may be amended at any time by an agreement between us and the depositary. A deposit agreement may be terminated by either the depositary
or us only if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 90%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">all outstanding depositary shares have been redeemed;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">each share of preferred stock has been converted into or exchanged for
    common stock; or</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">there has been a final distribution on the preferred stock of the relevant series in connection with our liquidation, dissolution or winding up and the distribution has been distributed to the holders of the related depositary receipts evidencing the depositary shares.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Charges of Depositary</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We will pay all transfer and other taxes and governmental
charges arising solely from the existence of the depositary arrangements. We will pay charges of the depositary associated with the initial
deposit and any redemption of the preferred stock. Holders of depositary shares will pay transfer and other taxes and governmental charges,
and any other charges that are stated to be their responsibility in the deposit agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Resignation and Removal of Depositary</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The depositary may resign at any time by delivering
notice to us. We also may remove the depositary at any time. Resignations or removals will be effective when a successor depositary is
appointed, and when the successor accepts the appointment. A successor depositary must be appointed within 60 days after delivery of the
notice of resignation or removal. A successor depositary must be a bank or trust company having its principal office in the United States,
and having a combined capital and surplus of at least $50 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Miscellaneous</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The depositary will forward all reports and communications
from us that are delivered to the depositary and that we are required to furnish to the holders of the deposited preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Neither the depositary nor we will be liable if it
is prevented or delayed by law or any circumstances beyond its control in performing its obligations under the deposit agreement. Our
obligations and the obligations of the depositary under the deposit agreement will be limited to good faith performance of their duties
thereunder, and they will not be obligated to prosecute or defend any legal proceeding in respect of any depositary shares, depositary
receipts or shares of preferred stock unless satisfactory indemnity is furnished. We and the depositary may rely upon written advice of
counsel or accountants or upon information provided by holders of depositary receipts or other persons believed to be competent and on
documents believed to be genuine.<BR>
<BR>
&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="warrants"></A>DESCRIPTION OF WARRANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following description, together with the additional
information we may include in any applicable prospectus supplements, summarizes the material terms and provisions of the warrants that
we may offer under this prospectus and the related warrant agreements and warrant certificates. While the terms summarized below will
apply generally to any warrants that we may offer, we will describe the particular terms of any series of warrants in more detail in the
applicable prospectus supplement. If we indicate in the prospectus supplement, the terms of any warrants offered under that prospectus
supplement may differ from the terms described below. Specific warrant agreements will contain additional important terms and provisions
and will be incorporated by reference as an exhibit to the registration statement of which this prospectus forms a part. We urge you to
read the applicable prospectus supplement and any related free writing prospectus, as well as the complete warrant agreements and warrant
certificates that contain the terms of the warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We may issue warrants for the purchase of common stock,
preferred stock and/or debt securities. Warrants may be issued separately or together with common stock, preferred stock or debt securities
offered and issued by any prospectus supplement and may be attached to or separate from such common stock, preferred stock or debt securities.
Each series of warrants will be issued under a separate warrant agreement to be entered into between us and a bank or trust corporation,
as warrant agent, all as set forth in the prospectus supplement relating to the particular issue of warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We will describe in the applicable prospectus supplement
the terms of the particular warrants being offered and issued and the applicable warrant agreement, including, where applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 90%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the title of the warrants;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the offering price for the warrants;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the aggregate number of warrants offered;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the designation and terms of the common stock, preferred stock or debt
    securities, if any, purchasable upon exercise of the warrants;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the designation and terms of the common stock, preferred stock or debt
    securities, if any, with which the warrants are issued and the number of warrants issued with each of these securities;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the date after which the warrants and any common stock, preferred stock
    or debt securities, if any, issued with the warrants will be separately transferable;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">in the case of warrants to purchase common stock or preferred stock, the
    number of shares of common stock or preferred stock, as the case may be, purchasable upon the exercise of one warrant and the price at
    which these shares may be purchased upon such exercise;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 3%"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 90%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">in the case of warrants to purchase debt securities, the principal amount
    of debt securities purchasable upon exercise of one warrant and the price at, and currency in which, the principal amount of debt securities
    may be purchased upon such exercise;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the dates on which the right to exercise the warrants begins and expires;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the minimum or maximum amount of the warrants that may be exercised at
    any one time;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the periods during which, and places at which, the warrants are exercisable;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the manner of exercise;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the currency, currencies or currency units in which the offering price,
    if any, and the exercise price are payable;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">a discussion of certain United States federal income tax considerations;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">any provisions for changes to or adjustments in the exercise price or number
    of securities issuable upon exercise of the warrants;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">any redemption or call provisions applicable to the warrants;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the effect of any merger, consolidation, sale or other disposition of our
    business on the warrant agreement and the warrants; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">any other terms, preferences, rights or limitations of or restrictions on the warrants.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Warrant certificates may be exchanged for new warrant
certificates of different denominations, may be presented for registration of transfer, and may be exercised at the corporate trust office
of the warrant agent or any other office indicated in the applicable prospectus supplement. Prior to the exercise of any warrants to purchase
common stock or preferred stock, holders of such warrants will not have any rights of holders of the common stock or preferred stock purchasable
upon such exercise, including the right to receive payments of dividends, if any, on the common stock or preferred stock purchasable upon
such exercise or to exercise any applicable right to vote. Prior to the exercise of any warrant to purchase debt securities, holders of
such warrants will not have any of the rights of holders of the debt securities purchasable upon such exercise, including the right to
receive payments of principal of, premium, if any, or interest, if any, on the debt securities purchasable upon such exercise or to enforce
covenants in the applicable indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Exercise of Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Each warrant will entitle the holder to purchase such
shares of common stock or preferred stock or principal amount of debt securities, as the case may be, at such exercise price as shall
in each case be set forth in, or calculable from, the prospectus supplement relating to the warrants we propose to offer and issue. After
the close of business on the expiration date of the warrants (or such later date to which such expiration date may be extended by us),
unexercised warrants will become void.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="units"></A>DESCRIPTION OF UNITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following description, together with the additional
information we may include in any applicable prospectus supplements, summarizes the material terms and provisions of the units that we
may offer under this prospectus and any related unit agreements that we may enter into. While the terms summarized below will apply generally
to any units that we may offer, we will describe the particular terms of any series of units in more detail in the applicable prospectus
supplement. If we indicate in the prospectus supplement, the terms of any units offered under that prospectus supplement may differ from
the terms described below. Specific unit agreements will contain additional important terms and provisions and will be incorporated by
reference as an exhibit to the registration statement, which includes this prospectus. We urge you to read the applicable prospectus supplement
and any related free writing prospectus, as well as the complete unit agreements that contain the terms of the units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 37.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 37.05pt">We may issue units comprised of two or more of the
other securities described in this prospectus in any combination and in one or more series. We may evidence each series of units by unit
certificates that we will issue under a separate agreement. We may enter into unit agreements with a unit agent. Each unit agent will
be a bank or trust company that we select. We will indicate the name and address of the unit agent in the applicable prospectus supplement
relating to a particular series of units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 37.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 37.05pt">We will describe in the applicable prospectus supplement
the terms of the particular warrants being offered and issued and the applicable warrant agreement, including, where applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 92%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the title of the series of units;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the price or prices at which such units will be issued;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the designation and terms of the units and of the securities comprising
    the units, including whether and under what circumstances those securities may be held or transferred separately;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-bottom: 10.25pt; padding-left: 5.65pt; line-height: 115%"><FONT STYLE="font-size: 10pt; line-height: 115%">any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the terms of the unit agreement governing the units;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-bottom: 10.25pt; padding-left: 5.65pt; line-height: 115%"><FONT STYLE="font-size: 10pt; line-height: 115%">a discussion of certain United States federal income tax considerations; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">any other terms of the units and of the securities comprising the units.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The provisions described in this section, as well as
those described under &ldquo;Description of Common Stock,&rdquo; &ldquo;Description of Preferred Stock,&rdquo; &ldquo;Description of Debt
Securities,&rdquo; &ldquo;Description of Depositary Shares&rdquo; and &ldquo;Description of Warrants&rdquo; will apply to the securities
included in each unit, to the extent relevant and as may be updated in any prospectus supplements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;<BR STYLE="clear: both">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="plan"></A>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We may sell the securities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 92%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">through underwriters;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">through dealers;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">through agents;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">directly to purchasers; or</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">through a combination of any of these methods or any other method permitted by law.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We also may issue the securities as a dividend or distribution
or in a subscription rights offering to our existing security holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We may directly solicit offers to purchase securities,
or agents may be designated to solicit such offers. In the prospectus supplement relating to such offering, we will name any agent that
could be viewed as an underwriter under the Securities Act and describe any commissions that we are obligated to pay to any such agent.
Any such agent will be acting on a best efforts basis for the period of its appointment or, if indicated in the applicable prospectus
supplement, on a firm commitment basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This prospectus may be used in connection with any
offering of our securities through any of these methods or other methods described in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Each time that we use this prospectus to sell our securities,
we will provide a prospectus supplement that describes the method of distribution of the securities and will set forth the specific terms
of the offering of securities, including, as applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 92%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the name or the underwriter, dealer or agent;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the public offering or purchase price of the securities;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">any discounts and commissions to be allowed or paid to the underwriter or agent;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">all other items constituting underwriting compensation;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">any discounts and commissions to be allowed or paid to dealers;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">any over-allotment option we grant to the underwriter under which the underwriter may purchase additional securities from us; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">any securities exchanges on which the securities will be listed.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If an underwriter is utilized in the sale of the securities
being offered by this prospectus or any prospectus supplement, an underwriting agreement will be executed under which the underwriter
will make resales of the securities to the public. In connection with the sale of the securities, we or the purchasers of securities for
whom the underwriter may act as agent, may compensate the underwriter in the form of underwriting discounts or commissions. The underwriter
may sell the securities to or through dealers, and those dealers may receive compensation in the form of discounts, concessions or commissions
from the underwriter and/or commissions from the purchasers for which they may act as agent. Unless otherwise indicated in a prospectus
supplement, an agent will be acting on a best efforts basis. If a dealer is utilized in the sale of the securities being offered by this
prospectus or any prospectus supplement, the securities will be sold to the dealer, as principal. The dealer may then resell the securities
to the public at varying prices to be determined by the dealer at the time of resale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any compensation paid to underwriters, dealers or agents
in connection with the offering of the securities, and any discounts, concessions or commissions allowed by underwriters to participating
dealers will be provided in the applicable prospectus supplement. Underwriters, dealers and agents participating in the distribution of
the securities may be deemed to be underwriters within the meaning of the Securities Act, and any discounts and commissions received by
them and any profit realized by them on resale of the securities may be deemed to be underwriting discounts and commissions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If we offer securities in a subscription rights offering
to our existing security holders, we may enter into a standby underwriting agreement with dealers, acting as standby underwriters. We
may pay the standby underwriters a commitment fee for the securities they commit to purchase on a standby basis. If we do not enter into
a standby underwriting arrangement, we may retain a dealer-manager to manage a subscription rights offering for us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We may enter into agreements to indemnify underwriters,
agents and dealers against civil liabilities, including liabilities under the Securities Act, or to contribute to payments they may be
required to make in respect thereof and to reimburse those persons for certain expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Certain underwriters, agents and dealers, and their
associates and affiliates, may be customers of, have borrowing relationships with, engage in other transactions with, or perform services,
including investment banking services, for us or one or more of our respective affiliates in the ordinary course of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The sale and distribution of the securities may be
effected from time to time in one or more transactions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 92%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">at a fixed price or prices, which may be changed;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">at market prices prevailing at the time of sale;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">at prices related to such prevailing market prices; or</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">at negotiated prices.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Each prospectus supplement will describe the
method of distribution of the securities and any applicable conditions or restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In order to facilitate the offering of the securities,
any underwriters may engage in transactions that stabilize, maintain or otherwise affect the price of the securities or any other securities
the prices of which may be used to determine payments on such securities. Specifically, any underwriters may over allot in connection
with the offering, creating a short position for their own accounts. In addition, to cover overallotments or to stabilize the price of
the securities or of any such other securities, the underwriters may bid for, and purchase, the securities or any such other securities
in the open market. In any offering of the securities through a syndicate of underwriters, the underwriting syndicate also may reclaim
selling concessions allowed to an underwriter or a dealer for distributing the securities in the offering if the syndicate repurchases
previously distributed securities in transactions to cover syndicate short positions, in stabilization transactions or otherwise. Any
of these activities may stabilize or maintain the market price of the securities above independent market levels. Any such underwriters
are not required to engage in these activities and may end any of these activities at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;We may engage in at the market offerings
into an existing trading market in accordance with Rule 415(a)(4) under the Securities Act. In addition, we may enter into derivative
transactions with third parties, or sell securities not covered by this prospectus to third parties in privately negotiated transactions.
If the applicable prospectus supplement so indicates, in connection with those derivatives, the third parties may sell securities covered
by this prospectus and the applicable prospectus supplement, including in short sale transactions. If so, the third party may use securities
pledged by us or borrowed from us or others to settle those sales or to close out any related open borrowings of stock, and may use securities
received from us in settlement of those derivatives to close out any related open borrowings of stock. The third party in such sale transactions
will be an underwriter and, if not identified in this prospectus, will be named in the applicable prospectus supplement or a post-effective
amendment. In addition, we may otherwise loan or pledge securities to a financial institution or other third party that in turn may sell
the securities short using this prospectus and an applicable prospectus supplement. Such financial institution or other third party may
transfer its economic short position to investors in our securities or in connection with a concurrent offering of other securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Under Rule 15c6-1 of the Exchange Act, trades
in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise.
The applicable prospectus supplement may provide that the original issue date for your securities may be more than two scheduled business
days after the trade date for your securities. Accordingly, in such a case, if you wish to trade securities on any date prior to the second
business day before the original issue date for your securities, you will be required, by virtue of the fact that your securities initially
are expected to settle in more than two scheduled business days after the trade date for your securities, to make alternative settlement
arrangements to prevent a failed settlement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The securities may be new issues of securities and
may have no established trading market. We may elect to list other securities we offer pursuant to this prospectus and an applicable prospectus
supplement on a national securities exchange, but we are not obligated to do so. Any underwriters who purchase securities from us for
public offering and sale may make a market in those securities, but these underwriters will not be obligated to do so and may discontinue
any market making at any time without notice. We cannot assure you that there will be a trading market for any securities, and, if a trading
market for any securities does develop, we cannot assure you that such market will be liquid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The specific terms of any lock-up provisions in respect
of any given offering will be described in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;<BR STYLE="clear: both">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="legal"></A>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unless otherwise indicated in the applicable prospectus
supplement, the validity of the securities offered by us pursuant to this prospectus will be passed upon for us by Stradley Ronon Stevens
&amp; Young, LLP, Philadelphia, Pennsylvania.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="experts"></A>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The consolidated financial statements incorporated
in this prospectus by reference from Customers Bancorp&rsquo;s Annual Report on Form 10-K and the effectiveness of Customers Bancorp&rsquo;s
internal control over financial reporting have been audited by Deloitte &amp; Touche LLP, an independent registered public accounting
firm, as stated in their reports. Such consolidated financial statements have been so incorporated
by reference in reliance upon the reports of such firm, given upon their authority as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="reference"></A>INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The SEC allows us to incorporate by reference information
into this prospectus. This means that we can disclose important information to you by referring you to another document filed separately
with the SEC. The information incorporated by reference is considered to be part of this prospectus, except for any information that is
superseded by subsequent incorporated documents or by information that is included directly in this prospectus, any prospectus supplement
or any related free writing prospectus. We incorporate by reference the documents listed below and any future filings we make with the
SEC after the date of this prospectus and until the termination of the offering of securities hereby under Sections 13(a), 13(c), 14 or
15(d) of the Exchange Act (other than, in each case, documents or information that is deemed, under the Exchange Act, in accordance with
the Exchange Act and SEC rules, to be &ldquo;furnished&rdquo; and not filed with the SEC):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 92%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Our Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000148881325000013/cubi-20241231.htm" STYLE="-sec-extract: exhibit">Form 10-K</A> for the year ended December 31, 2024, filed with the SEC on February 28, 2025 (including the information specifically incorporated by reference therein from our <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000148881325000025/cubi-20250416.htm" STYLE="-sec-extract: exhibit">Definitive Proxy Statement</A> on Schedule 14A, filed with the SEC on April 16, 2025);</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Our Quarterly Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000148881325000037/cubi-20250331.htm" STYLE="-sec-extract: exhibit">Form 10-Q</A> for the quarter ended March 31, 2025, filed with the SEC on May 9, 2025;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Our Quarterly Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000148881325000071/cubi-20250630.htm" STYLE="-sec-extract: exhibit">Form 10-Q</A> for the quarter ended June 30, 2025, filed with the SEC on August 7, 2025;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Our Current Reports on Form 8-K filed with the SEC on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1488813/000148881325000018/cubi-20250328.htm" STYLE="-sec-extract: exhibit">April 2, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000148881325000044/cubi-20250514.htm" STYLE="-sec-extract: exhibit">May 14, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000148881325000047/cubi-20250527.htm" STYLE="-sec-extract: exhibit">May 28, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000148881325000050/cubi-20250528.htm" STYLE="-sec-extract: exhibit">June 2, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000148881325000057/cubi-20250528.htm" STYLE="-sec-extract: exhibit">June 11, 2025</A> (Form 8-K/A) and <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000148881325000064/cubi-20250725.htm" STYLE="-sec-extract: exhibit">July 25, 2025</A>; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">The description of our common stock contained set forth in <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000148881320000033/cubi-12312019xex47.htm" STYLE="-sec-extract: exhibit">Exhibit 4.7</A> to our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the SEC on March 2, 2020, and any amendment or report filed for the purpose of updating such description.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">You may obtain a copy of any or all of the documents
incorporated by reference in this prospectus and any prospectus supplement from the SEC on its web site at www.sec.gov. You also may obtain
these documents from us without charge (other than an exhibit to a document unless that exhibit is specifically incorporated by reference
into that document) by requesting them from Andrew Sachs, Corporate Secretary, Customers Bancorp, Inc., 701 Reading Avenue, West Reading,
PA 19611; telephone (610) 933-2000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="findmore"></A>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We file annual, quarterly and current reports, proxy
statements and other information with the SEC. These filings are available to the public over the Internet at the SEC&rsquo;s website
at www.sec.gov. The reports and other information we file with the SEC are also available at our website at www.customersbank.com. We
have included the web addresses for the SEC and us as inactive textual references only. Except as specifically incorporated by reference
into this prospectus, information on those websites does not constitute part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We have filed with the SEC a registration statement
on Form S-3, which registers the securities that we may offer under this prospectus. This prospectus is part of that registration statement
and, as permitted by the SEC&rsquo;s rules, does not contain all the information required to be set forth in the registration statement.
We believe that we have included or incorporated by reference all information material to investors in this prospectus, but some details
that may be important for specific investment purposes have not been included. For further information, you should read the registration
statement and the exhibits filed with or incorporated by reference into the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;<BR STYLE="clear: both">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CUSTOMERS BANCORP, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Voting Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Class B Non-Voting Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Debt Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Depositary Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>__________________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>__________________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 24.5pt"><B>These securities are not savings
accounts or deposits and are not federally insured or guaranteed.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>__________________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>September 3, 2025</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PART II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INFORMATION NOT REQUIRED IN PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><B>Item 14.</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 89%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><B>Other Expenses of Issuance and Distribution.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following table sets forth the estimated costs
and expenses in connection with the issuance and distribution of the securities being registered, all of which will be paid by Customers
Bancorp, Inc. All amounts are estimates except with respect to the SEC registration fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 88%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">SEC registration fee</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: right">(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">FINRA filing fee</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Accounting fees and expenses</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Legal fees and expenses</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Transfer agent fees and expenses </FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Trustee fees and expenses</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Warrant agent fees and expenses</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Printing fees and expenses</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Blue Sky qualification fees and expenses</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Miscellaneous</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(a) Applicable SEC registration fees have been deferred in accordance
with Rules 456(b) and 457(r) of the Securities Act of 1933 and will be paid at the time of any particular offering and therefore are
not estimable at this time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">* These fees will depend on the securities offered, the number of issuances
and the nature of offerings, and cannot be estimated at this time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><B>Item 15.</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 89%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><B>Indemnification of Directors and Officers.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Section 1713 of Subchapter B of Chapter 17 of the Pennsylvania
Business Corporation Law (&ldquo;PBCL&rdquo;) permits a Pennsylvania corporation to limit the personal liability of its directors for
monetary damages, subject to certain limitations and conditions. Sections 1741 through 1750 of Subchapter D, Chapter 17, of the PBCL contain
provisions for mandatory and discretionary indemnification of a corporation&rsquo;s directors, officers and other personnel, and related
matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Article Eight of the Registrant&rsquo;s bylaws limits
the personal liability of directors for monetary damages and provides for indemnification of officers and directors, as described below.
These provisions may not be amended to increase the directors&rsquo; exposure to liability or to decrease the indemnification to directors,
officers or others except by the affirmative vote of two-thirds of the entire board of directors or 80% of the votes which all shareholders
are entitled to cast.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under Section 1713 of the PBCL, if a bylaw adopted
by the shareholders so provides, a director shall not be personally liable, as such, for monetary damages for any action taken unless
(i) the director has breached or failed to perform the duties of his or her office as provided in the applicable subchapter of the PBCL
and (ii) such breach or failure to perform constitutes self-dealing, willful misconduct or recklessness. The bylaw cannot eliminate the
personal liability of directors for any responsibility or liability of a director under a criminal statute or liability for the payment
of taxes pursuant to Federal, State or local law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Section 8.01 of the Registrant&rsquo;s bylaws provides
that, to the fullest extent permitted under Subchapter B of Chapter 17 of the PBCL, directors shall not be personally liable to the corporation
or its shareholders or others for monetary damages for any action taken or any failure to take any action. Consistent with the limitations
provided in Section 1713 of the PBCL, this bylaw provision does not apply if the director has breached or failed to perform the duties
of his or her office and such breach or failure constitutes self-dealing, willful misconduct or recklessness, and also does not apply
to the responsibility or liability of a director under any criminal statute or with respect to the payment of taxes pursuant to local,
state or federal law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under Section 1741 of the PBCL, subject to certain
limitations, a corporation has the power to indemnify directors and officers under certain prescribed circumstances against expenses (including
attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with an action
or proceeding, whether civil, criminal, administrative or investigative (other than derivative or corporate actions), to which any such
officer or director is a party or is threatened to be made a party by reason of such officer or director being a representative of the
corporation or serving at the request of the corporation as a representative of another domestic or foreign corporation for profit or
not-for-profit, partnership, joint venture, trust or other enterprise, so long as the director or officer acted in good faith and in a
manner reasonably believed to be in, or not opposed to, the best interests of the corporation and, with respect to any criminal proceeding,
such officer or director had no reasonable cause to believe his or her conduct was unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Section 1742 of the PBCL permits indemnification in
derivative and corporate actions if the director or officer acted in good faith and in a manner reasonably believed to be in, or not opposed
to, the best interests of the corporation, except in respect of any claim, issue or matter as to which the officer or director has been
adjudged to be liable to the corporation unless and only to the extent that the proper court determines upon application that, despite
the adjudication of liability but in view of all the circumstances of the case, the officer or director is fairly and reasonably entitled
to indemnity for the expenses that the court deems proper. Under Section 1743 of the PBCL, indemnification is mandatory to the extent
that the officer or director has been successful on the merits or otherwise in defense of any action or proceeding referred to in Section
1741 or 1742 of the PBCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Section 1744 of the PBCL provides that, unless ordered
by a court, any indemnification under Section 1741 or 1742 of the PBCL shall be made by the corporation only as authorized in the specific
case upon a determination that the officer or director met the applicable standard of conduct, and such determination must be made (i)
by the board of directors by a majority vote of a quorum of directors not parties to the action or proceeding, (ii) if a quorum is not
obtainable, or if obtainable and a majority vote of a quorum of disinterested directors so directs, by independent legal counsel in a
written opinion, or (iii) by the shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Section 1745 of the PBCL provides that expenses (including
attorneys&rsquo; fees) incurred by a director or officer in defending any action or proceeding referred to in Subchapter D of Chapter
17 of the PBCL may be paid by the corporation in advance of the final disposition of such action or proceeding upon receipt of an undertaking
by or on behalf of such person to repay such amount if it shall ultimately be determined that he or she is not entitled to be indemnified
by the corporation. Except as otherwise provided in the corporation&rsquo;s bylaws, advancement of expenses must be authorized by the
board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Section 1746 of the PBCL provides generally that the
indemnification and advancement of expenses provided by Subchapter D of Chapter 17 of the PBCL shall not be deemed exclusive of any other
rights to which an officer or director seeking indemnification or advancement of expenses may be entitled under any bylaw, agreement,
vote of shareholders or disinterested directors or otherwise, both as to action in the officer or director&rsquo;s official capacity and
as to action in another capacity while holding that office. In no event may indemnification be made in any case where the act or failure
to act giving rise to the claim for indemnification is determined by a court to have constituted willful misconduct or recklessness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Section 1747 of the PBCL grants a corporation the power
to purchase and maintain insurance on behalf of any director or officer against any liability asserted against the officer or director
or incurred by the officer or director in his or her capacity as officer or director, whether or not the corporation would have the power
to indemnify the officer or director against that liability under Subchapter D of Chapter 17 of the PBCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Sections 1748 and 1749 of the PBCL extend the indemnification
and advancement of expenses provisions contained in Subchapter D of Chapter 17 of the PBCL to successor corporations in fundamental changes
and to officers and directors serving as fiduciaries of employee benefit plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Section 1750 of the PBCL provides that the indemnification
and advancement of expenses provided by, or granted pursuant to, Subchapter D of Chapter 17 of the PBCL shall, unless otherwise provided
when authorized or ratified, continue as to a person who has ceased to be a director or officer and shall inure to the benefit of the
heirs and personal representatives of such person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Section 8.02 of the Registrant&rsquo;s bylaws requires
the Registrant to indemnify each of the Registrant&rsquo;s directors and officers in such capacity in which any such director or officer
acts for or on behalf of the Registrant, including as an employee or agent. Section 8.02(a) requires the Registrant to indemnify any person
who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether
civil, criminal, administrative or investigative by reason of the fact such person was a director or officer of the Registrant or its
subsidiaries, or any other direct or indirect subsidiary of the corporation, or is or was serving at the request of the Registrant as
a director or officer of another corporation or entity, against expenses (including attorney&rsquo;s fees), judgments, fines and amounts
paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, to the fullest
extent authorized or permitted by the laws of the Commonwealth of Pennsylvania. Section 8.02(b) requires the Registrant to pay the expenses
(including attorney&rsquo;s fees) incurred in defending a civil or criminal action, suit or proceeding in advance of the final disposition
of any action, suit or proceeding upon the receipt of (i) an undertaking by or on behalf of the director or officer to repay such amount
if it is ultimately determined that he or she is not entitled to be indemnified as authorized under the bylaws and (ii) if requested at
the discretion of the board of directors, adequate security or a bond to cover such amounts for which it is ultimately determined that
he or she is not entitled to such indemnity. Section 8.02(c) provides that the right to indemnification and advancement of expenses is
not exclusive of any other right to which such persons seeking indemnification and advancement of expenses may be entitled under any agreement,
vote of shareholders or disinterested directors, or otherwise. Section 8.02(d) provides that the Registrant may purchase and maintain
insurance on behalf of any person, may enter into contracts of indemnification with any person and may create a fund of any nature for
the benefit of any person and may otherwise secure in any manner our obligations with respect to indemnification and advancement of expenses
regardless of the source of the indemnification right and without respect to whether or not the Registrant would have the power to indemnify
such person under the bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As permitted by the PBCL, the Registrant maintains
directors&rsquo; and officers&rsquo; liability insurance in amounts and on terms which the Registrant&rsquo;s board of directors deems
reasonable. In the ordinary course of business, the Registrant&rsquo;s board of directors regularly reviews the scope and adequacy of
such insurance coverage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any underwriting agreement or distribution agreement
that the Registrant enters into with any underwriters or agents involved in the offering or sale of any securities registered hereby may
require such underwriters or dealers to indemnify the Registrant, some or all of its directors and officers and its controlling persons,
if any, for specified liabilities, which may include liabilities under the Securities Act, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Insofar as indemnification for liabilities arising
under the Securities Act may be permitted to directors, officers and controlling persons pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The foregoing is only a summary of certain aspects
of Pennsylvania law and the registrant's bylaws relating to limitation of liability and indemnification of directors and officers, and
does not purport to be complete. It is qualified in its entirety by reference to the detailed provisions of Sections 1713 and Sections
1741 through 1750 of the PBCL and the registrant's bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><B><U>Item 16.</U></B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 89%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><B><U>Exhibits.</U></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Exhibit</U></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Number</U></P></TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 88%; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Description</U></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">1.1</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Form of Underwriting Agreement.*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Amended and Restated Articles of Incorporation of Customers Bancorp, Inc., incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000095015912000271/ex3-1.htm" STYLE="-sec-extract: exhibit">Exhibit 3.1</A> to the Registrant&rsquo;s Current Report on Form 8-K filed with the SEC on April 30, 2012.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Articles of Amendment to the Amended and Restated Articles of Incorporation of Customers Bancorp, Inc., incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000095015912000402/ex3-1.htm" STYLE="-sec-extract: exhibit">Exhibit 3.1</A> to the Registrant&rsquo;s Current Report on Form 8-K filed with the SEC on July 2, 2012.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center; width: 10%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 88%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.3</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Amended and Restated Bylaws of Customers Bancorp, Inc., incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000095015912000271/ex3-2.htm" STYLE="-sec-extract: exhibit">Exhibit 3.2</A> to the Registrant&rsquo;s Current Report on Form 8-K filed with the SEC on April 30, 2012.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.4</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Amendment to Amended and Restated Articles of Incorporation of Customers Bancorp, Inc., incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000148881319000040/amendment.htm" STYLE="-sec-extract: exhibit">Exhibit 3.1</A> to the Registrant's Current Report on Form 8-K filed with the SEC on June 3, 2019.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.5</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Amendment to Amended and Restated Bylaws of Customers Bancorp, Inc., incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000148881319000045/exhibit31.htm" STYLE="-sec-extract: exhibit">Exhibit 3.1</A> to the Registrant's Current Report on Form 8-K filed with the SEC on June 19, 2019.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.6</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Statement with Respect to Shares relating to the Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E, incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000095015916000573/ex3-1.htm" STYLE="-sec-extract: exhibit">Exhibit 3.1</A> to the Registrant&rsquo;s Current Report on Form 8-K filed on April 28, 2016.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.7</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Statement with Respect to Shares relating to the Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F, incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000095015916000731/ex3-1.htm" STYLE="-sec-extract: exhibit">Exhibit 3.1</A> to the Registrant&rsquo;s Current Report on Form 8-K filed on September 16, 2016.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.8</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Form of Statement with Respect to Shares relating to Preferred Stock.*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.9</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Specimen stock certificate of Customers Bancorp, Inc. Voting Common Stock and Class B Non-Voting Common Stock, incorporated by reference to Exhibit 4.1 to the Registrant&rsquo;s Registration Statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000095015912000273/customers-s1a.htm" STYLE="-sec-extract: exhibit">Form S-1/A</A> filed with the SEC on May 1, 2012.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt"><A NAME="a_002"></A>4.10</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Indenture, dated as of July 30, 2013, by and between Customers Bancorp, Inc., as Issuer, and Wilmington Trust, National Association, as Trustee, incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000119312513310612/d575379dex41.htm" STYLE="-sec-extract: exhibit">Exhibit 4.1</A> to the Registrant&rsquo;s Current Report on Form 8-K filed with the SEC on July 31, 2013.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.11</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">First Supplemental Indenture, dated as of July 30, 2013, by and between Customers Bancorp, Inc, as Issuer, and Wilmington Trust, National Association, as Trustee, incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000119312513310612/d575379dex42.htm" STYLE="-sec-extract: exhibit">Exhibit 4.2</A> to the Registrant&rsquo;s Current Report on Form 8-K filed with the SEC on July 31, 2013.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.12</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Second Supplemental Indenture, dated as of June 30, 2017, by and between Customers Bancorp, Inc, as Issuer, and Wilmington Trust, National Association, as Trustee, incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000095015917000188/ex4-1.htm" STYLE="-sec-extract: exhibit">Exhibit 4.1</A> to the Registrant&rsquo;s Current Report on Form 8-K filed with the SEC on June 30, 2017.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;<FONT STYLE="font-size: 10pt">4.13</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Third Supplemental Indenture, dated as of September 25, 2019, by and between Customers Bancorp, Inc, as Issuer, and Wilmington Trust, National Association, as Trustee, incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000095015919000152/ex4-1.htm" STYLE="-sec-extract: exhibit">Exhibit 4.1</A> to the Registrant&rsquo;s Current Report on Form 8-K filed with the SEC on September 25, 2019.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><A NAME="a_003"></A><FONT STYLE="font-size: 10pt">4.14</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Subordinated Debt Indenture, dated as of December 9, 2019, between Customers Bancorp, Inc., as Issuer, and Wilmington Trust, National Association, as Trustee, incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000095015919000264/ex4-1.htm" STYLE="-sec-extract: exhibit">Exhibit 4.1</A> to the Registrant&rsquo;s Current Report on Form 8-K filed with the SEC on December 9, 2019.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.15</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">First Supplemental Indenture, dated as of December 9, 2019, between Customers Bancorp, Inc., as Issuer, and Wilmington Trust, National Association, as Trustee, incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000095015919000264/ex4-2.htm" STYLE="-sec-extract: exhibit">Exhibit 4.2</A> to the Registrant&rsquo;s Current Report on Form 8-K filed with the SEC on December 9, 2019.</FONT></TD></TR>
</TABLE>

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<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center; width: 10%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 88%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.16</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Fourth Supplemental Indenture dated as of August 6, 2021 between Customers Bancorp, Inc., as Issuer, and Wilmington Trust, National Association, as Trustee, incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/1488813/000095015921000214/ex4-1.htm" STYLE="-sec-extract: exhibit">Exhibit 4.1</A> to Customers Bancorp&rsquo;s Form 8-K filed with the SEC on August 6, 2021</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.17</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Form of Preferred Stock Certificate.*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.18</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Form of Senior Debt Security.*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.19</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Form of Junior Debt Security.*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.20</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Form of Convertible Debt Security.*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.21</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Form of Deposit Agreement.*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.22</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Form of Depositary Receipt.*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.23</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Form of Warrant Agreement (Stock) (including form of Warrant).*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.24</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Form of Warrant Agreement (Debt) (including form of Warrant).*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.25</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Form of Unit Agreement.*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">4.26</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Form of Unit Certificate.*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><A HREF="ex5-1.htm">Opinion of Stradley Ronon Stevens &amp; Young, LLP (filed herewith)</A>.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><A HREF="ex23-1.htm">Consent of Deloitte &amp; Touche LLP (filed herewith).</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">23.2</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><A HREF="ex5-1.htm">Consent of Stradley Ronon Stevens &amp; Young, LLP (included in Exhibit 5.1)</A>.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">24.1</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><A HREF="#a_001">Power of Attorney (included on the signature page in Part II of this Registration Statement).</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;<FONT STYLE="font-size: 10pt">25.1</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><A HREF="ex25-1.htm">Form T-1 Statement of Eligibility under the Trust Indenture Act of 1939, as amended, of Wilmington Trust Company, National Association, as trustee for the indenture included as&nbsp;Exhibit 4.10 (filed herewith).</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">25.2</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><A HREF="ex25-2.htm">Form T-1 Statement of Eligibility under the Trust Indenture Act of 1939, as amended, of Wilmington Trust Company, National Association, as trustee for the indenture included as&nbsp;&nbsp;Exhibit 4.14 (filed herewith).</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">107</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><A HREF="ex107.htm">Calculation of Filing Fee Table (filed herewith)</A>.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>__________________</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">To be filed subsequently by an amendment to the registration statement
    or by reference from documents filed or to be filed with the SEC under the Securities Exchange Act of 1934, as amended.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><B>Item 17.</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 88%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt"><B>Undertakings.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(a) The undersigned registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(1) To file, during any period in which offers or sales
are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(i) To include any prospectus required by Section 10(a)(3)
of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(ii) To reflect in the prospectus any facts or
events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement.
Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities
offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering
range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in
volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the
&ldquo;Calculation of Filing Fees Tables&rdquo; or &ldquo;Calculation of Registration Fee&rdquo; table, as applicable, in the
effective registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(iii) To include any material information with respect
to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration
statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>provided</U>, <U>however</U>, that paragraphs (a)(1)(i),
(a)(1)(ii) and (a)(1)(iii) above do not apply if the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or
Section 15(d) of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), that are incorporated by reference
in this registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the
registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(2) That, for the purpose of determining any liability
under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(4) That, for the purpose of determining liability under
the Securities Act to any purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(i) Each prospectus filed by the registrant pursuant
to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and
included in the registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(ii) Each prospectus required to be filed pursuant
to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant
to Rule 415(a)(1)(i), (vii) or (x) for the purpose of providing the information required by section 10(a) of the Securities Act of 1933
shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first
used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided
in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be
a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates,
and the offering of such securities at the time shall be deemed to be the initial bona fide offering thereof. Provided, however, that
no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated
or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as
to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration
statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(5) That, for the purpose of determining liability of
the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">The undersigned registrant undertakes that in a primary
offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used
to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications,
the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(i) Any preliminary prospectus or prospectus of the
undersigned registrant relating to the offering required to be filed pursuant to Rule 424;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(ii) Any free writing prospectus relating to the offering
prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(iii) The portion of any other free writing prospectus
relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of
the undersigned registrant; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(iv) Any other communication that is an offer in the
offering made by the undersigned registrant to the purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(b) The undersigned registrant hereby undertakes that,
for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant&rsquo;s annual report pursuant
to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s
annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(c) Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant
to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the
event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or
paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will,
unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed
by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(d) The undersigned registrant hereby undertakes to
file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of Section 310 of the Trust
Indenture Act (&ldquo;TIA&rdquo;) in accordance with the rules and regulations prescribed by the SEC under section 305(b)(2) of the TIA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities Act
of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the
Borough of West Reading, Commonwealth of Pennsylvania, on September 3, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Customers Bancorp, Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 44%; border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">/s/ Jay S. Sidhu </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Jay S. Sidhu</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chairman and Chief Executive Officer</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_001"></A>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>KNOW ALL PERSONS BY THESE PRESENTS</B>, that the
persons whose signatures appear below constitute and appoint Jay S. Sidhu, Mark McCollom and Andrew B. Sachs, and each one of them, as
their true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for them and in their names, places
and steads, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement,
and to sign any subsequent registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and any
and all amendments thereto, and to file the same, with all exhibits thereto, and the other documents in connection therewith, with the
Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and
every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as they might or
could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or their substitutes, may lawfully do or
cause to be done by virtue thereof.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities Act
of 1933, this registration statement has been signed below by the following persons in the capacities and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 49%; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 23%; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">/s/ Jay S. Sidhu</P></TD>
    <TD STYLE="width: 49%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Chairman, Chief Executive Officer and Director (Principal Executive Officer)</FONT></TD>
    <TD STYLE="width: 23%; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">September 3, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">Jay S. Sidhu</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">/s/ Mark McCollom</P></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Executive Vice President, Chief Financial
    Officer (Principal Financial Officer)</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">September 3, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">Mark McCollom</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">/s/ Jessie John D. Velasquez</P></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">Executive<FONT STYLE="font-size: 10pt"> Vice President, Chief Accounting Officer and Controller (Principal Accounting Officer)</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">September 3, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Jessie John D. Velasquez</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/
    Andrea R. Allon</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">September 3, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Andrea R. Allon</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Bernard B. Banks</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">September 3, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Bernard B. Banks</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Robert J. Buford</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">September 3, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Robert J. Buford</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center; width: 28%"><FONT STYLE="font-size: 10pt">/s/ Robert N. MacKay</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; width: 49%"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center; width: 23%"><FONT STYLE="font-size: 10pt">September 3, 2025</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Robert N. MacKay</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;<FONT STYLE="font-size: 10pt">/s/ Daniel K. Rothermel</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">September 3, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Daniel K. Rothermel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ T. Lawrence Way</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">September 3, 2025</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">T. Lawrence Way</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Steven J. Zuckerman</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">September 3, 2025</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt">Steven J. Zuckerman</FONT></TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; text-align: center">&nbsp;</TD></TR>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: right">Exhibit 5.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; padding: 0.25in -0.5in 6pt 5.4pt; text-align: left; font-size: 10pt"><IMG SRC="image_002.jpg" ALT="A blue and black logo&#10;&#10;Description automatically generated" STYLE="height: 24px; width: 192px"></TD>
    <TD STYLE="width: 26%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; text-align: left">2005 Market Street<BR>
    Suite 2600<BR>
    Philadelphia, PA 19103<BR>
    T: 215.564.8000</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; text-align: left">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt 4.95in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">September 3, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Customers Bancorp, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">701 Reading Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">West Reading PA 19611</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Re:&#9;Customers Bancorp, Inc. &ndash; Form S-3 Registration Statement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We have acted as counsel to and for Customers Bancorp,
Inc., a Pennsylvania corporation (the &ldquo;Company&rdquo;), in connection with the preparation and filing with the Securities and Exchange
Commission (the &ldquo;Commission&rdquo;) of a registration statement on Form S-3, initially filed on September 3, 2025 (the &ldquo;Registration
Statement&rdquo;), relating to the issuance from time to time, in aggregate offering price to be determined, of the Company's (i) shares
of voting common stock, par value $1.00 per share (&ldquo;Voting Common Stock&rdquo;), (ii) shares of Class B non-voting common stock,
par value $1.00 per share (&ldquo;Class B Common Stock&rdquo;), (iii) one or more series of preferred stock, having no par value or such
par value as the board of directors of the Company may set (&ldquo;Preferred Stock&rdquo;), (iv) one or more series of debt securities
of the Company (&ldquo;Debt Securities&rdquo;), (v) warrants to purchase Voting Common Stock, Class B Common Stock, Preferred Stock or
Debt Securities (&ldquo;Warrants&rdquo;), (vi) depositary shares (which may be evidenced by depositary receipts) representing fractional
interests in shares of Voting Common Stock, Class B Common Stock or Preferred Stock (&ldquo;Depositary Shares&rdquo;) and (vii) units
(&ldquo;Units&rdquo;) comprising one or more of the Securities (as defined below) described in the preceding clauses (i) through (vi),
in any combination. The Voting Common Stock, Class B Common Stock, Preferred Stock, Debt Securities, Warrants, Depositary Shares and Units
are collectively referred to herein as the &ldquo;Securities.&rdquo; The Securities are being registered for offer and sale from time
to time pursuant to Rule 415 under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: center"><FONT STYLE="color: #002B49"><B>Stradley
Ronon Stevens &amp; Young, LLP</B></FONT> <FONT STYLE="color: #008EAA">| <B>stradley.com</B></FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: center"><FONT STYLE="color: #002B49">Chicago </FONT><FONT STYLE="color: #008EAA">|</FONT>
<FONT STYLE="color: #002B49">Los Angeles </FONT><FONT STYLE="color: #008EAA">|</FONT> <FONT STYLE="color: #002B49">New York </FONT><FONT STYLE="color: #008EAA">|</FONT>
<FONT STYLE="color: #002B49">Philadelphia </FONT><FONT STYLE="color: #008EAA">|</FONT> <FONT STYLE="color: #002B49">Washington, D.C.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0">Customers Bancorp, Inc.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0">September 3, 2025</P><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: left">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In connection with this opinion, we have examined originals
or copies, certified or otherwise identified to our satisfaction, of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>the Registration Statement, including the prospectus included therein (the &ldquo;Prospectus&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>the Company&rsquo;s Amended and Restated Articles of Incorporation, included as Exhibit 3.1 to the Company&rsquo;s Current Report
on Form 8-K filed with the Commission on April 30, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>the Articles of Amendment to the Company&rsquo;s Amended and Restated Articles of Incorporation, included as Exhibit 3.1 to the Company&rsquo;s
Current Report on Form 8-K filed with the Commission on July 2, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD>the Articles of Amendment to the Company&rsquo;s Amended and Restated Articles of Incorporation, included as Exhibit 3.1 to the Company&rsquo;s
Current Report on Form 8-K filed with the Commission on June 3, 2019;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD>the Company&rsquo;s Amended and Restated Bylaws, included as Exhibit 3.2 to the Company&rsquo;s Current Report on Form 8-K filed with
the Commission on April 30, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD>the Amendment to the Company&rsquo;s Amended and Restated Bylaws, included as Exhibit 3.1 to the Company&rsquo;s Current Report on
Form 8-K filed with the Commission on June 19, 2019;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(vii)</TD><TD>the indenture, dated July 30, 2013, by and between the Company, as issuer and Wilmington Trust, National Association, as trustee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(viii)</TD><TD>the subordinated indenture, dated December 9, 2019, by and between the Company, as issuer and Wilmington Trust, National Association,
as trustee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ix)</TD><TD>the resolutions of the Company&rsquo;s Board of Directors with respect to the filing of the Registration Statement; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(x)</TD><TD>such other records, documents, certificates and statutes as we have deemed necessary for purposes of this opinion letter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In rendering this opinion, we have assumed and relied
upon, without independent investigation (i) the authenticity, completeness, truth and due authorization and execution of all documents
submitted to us as originals, (ii) the genuineness of all signatures on all documents submitted to us as originals and (iii) the conformity
to the originals of all documents submitted to us as certified, electronic or photostatic copies. We also have assumed and relied upon,
without independent investigation, that the trustee is in full compliance with the terms of the indenture and the subordinated indenture
and that the indenture or subordinated indenture, as applicable, has been duly authorized, executed and delivery by, and is valid and
binding upon, the trustee and enforceable against the trustee in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0">Customers Bancorp, Inc.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0">September 3, 2025</P><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: left">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The law covered by the opinions expressed herein is
limited to the federal statutes, judicial decisions and rules and regulations of the governmental agencies of the United States of America
and the statutes, judicial and administrative decisions and rules and regulations of the governmental agencies of the Commonwealth of
Pennsylvania and the State of New York. We are not rendering any opinion as to compliance with any federal or state law, rule, or regulation
relating to securities, or to the sale or issuance thereof, except to the extent that such compliance is related to the valid issuance
of the Securities. This opinion letter is being furnished in connection with the requirements of Item 601(b)(5) of the Commission&rsquo;s
Regulation S-K, and we express no opinion as to any matter pertaining to the contents of the Registration Statement, the Prospectus or
any prospectus supplement, other than as expressly stated herein with respect to the issuance of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our opinions are limited and qualified in all respects
by the effects of (i) general principles of equity and limitations on availability of equitable relief, including specific performance,
whether applied by a court of law or equity, and (ii) bankruptcy, insolvency, reorganization, moratorium, arrangement, fraudulent conveyance
or fraudulent transfer, receivership, and other laws now or hereafter in force affecting the rights and remedies of creditors generally
(not just creditors of specific types of debtors) and other laws now or hereafter in force affecting generally only creditors of specific
types of debtors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This opinion letter is given only with respect to laws
and regulations presently in effect. We assume no obligation to advise you of any changes in law or regulation which may hereafter occur,
whether the same are retroactively or prospectively applied, or to update or supplement this letter in any fashion to reflect any facts
or circumstances which hereafter come to our attention.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Based upon, and subject to, the foregoing, and subject
to the qualifications herein stated, we are of the opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect
to Voting Common Stock offered under the Registration Statement, provided that (i) the Registration Statement and any required post-effective
amendments thereto have all become effective under the Securities Act, and the Prospectus and any and all prospectus supplement(s) relating
to the Prospectus required by applicable laws have been filed and delivered as required by such laws, (ii) the issuance and sale of the
Voting Common Stock have been duly authorized by the Company by all necessary corporate action, (iii) the issuance and sale of the Voting
Common Stock do not violate any applicable laws, are in conformity with the Company&rsquo;s then-operative articles of incorporation (the
&ldquo;Articles of Incorporation&rdquo;) and bylaws (the &ldquo;Bylaws&rdquo;), do not result in a default under or breach of any agreement
or instrument binding upon the Company and comply with any applicable requirement or restriction imposed by any court or governmental
body having jurisdiction over the Company and (iv) any certificates for the Voting Common Stock have been duly executed by the Company,
countersigned by the transfer agent therefor and duly delivered to the purchasers thereof or such shares of Voting Common Stock have been
otherwise duly delivered to the purchasers thereof, in each case upon payment in full of the consideration therefor, then the Voting Common
Stock, when issued and sold as contemplated in the Registration Statement, the Prospectus and the prospectus supplement(s) relating to
the Prospectus and in accordance with any applicable duly authorized, executed and delivered purchase, underwriting or similar agreement,
or upon exercise, exchange or conversion, as applicable, of any other Security in accordance with the terms of such other Security providing
for such exercise, exchange or conversion, will be validly issued, fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect
to Class B Common Stock offered under the Registration Statement, provided that (i) the Registration Statement and any required post-effective
amendments thereto have all become effective under the Securities Act, and the Prospectus and any and all prospectus supplement(s) relating
to the Prospectus required by applicable laws have been filed and delivered as required by such laws, (ii) the issuance and sale of the
Class B Common Stock have been duly authorized by the Company by all necessary corporate action, (iii) the issuance and sale of the Class
B Common Stock do not violate any applicable laws, are in conformity with the Company's then-operative Articles of Incorporation and Bylaws,
do not result in a default under or breach of any agreement or instrument binding upon the Company and comply with any applicable requirement
or restriction imposed by any court or governmental body having jurisdiction over the Company and (iv) any certificates for the Class
B Common Stock have been duly executed by the Company, countersigned by the transfer agent therefor and duly delivered to the purchasers
thereof or such shares of Class B Common Stock have been otherwise duly delivered to the purchasers thereof, in each case upon payment
in full of the consideration therefor, then the Class B Common Stock, when issued and sold as contemplated in the Registration Statement,
the Prospectus and the prospectus supplement(s) relating to the Prospectus and in accordance with any applicable duly authorized, executed
and delivered purchase, underwriting or similar agreement, or upon exercise, exchange or conversion, as applicable, of any other Security
in accordance with the terms of such other Security providing for such exercise, exchange or conversion, will be validly issued, fully
paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0">Customers Bancorp, Inc.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0">September 3, 2025</P><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: left">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">3.&#9;With respect to Preferred Stock offered under
the Registration Statement, provided that (i) the Registration Statement and any required post-effective amendments thereto have all become
effective under the Securities Act, and the Prospectus and any and all prospectus supplement(s) relating to the Prospectus required by
applicable laws have been filed and delivered as required by such laws, (ii) the issuance and sale of the Preferred Stock have been duly
authorized by the Company by all necessary corporate action, including action by the Board of Directors to establish the terms of any
particular series of Preferred Stock, (iii) the issuance and sale of the Preferred Stock do not violate any applicable laws, are in conformity
with the Company's then-operative Articles of Incorporation and Bylaws, do not result in a default under or breach of any agreement or
instrument binding upon the Company and comply with any applicable requirement or restriction imposed by any court or governmental body
having jurisdiction over the Company and (iv) any certificates for the Preferred Stock have been duly executed by the Company, countersigned
by the transfer agent therefor and duly delivered to the purchasers thereof or such shares of Preferred Stock have otherwise been duly
delivered to the purchasers thereof, in each case upon payment in full of the consideration therefor, then the Preferred Stock, when issued
and sold as contemplated in the Registration Statement, the Prospectus and the prospectus supplement(s) relating to the Prospectus and
in accordance with any applicable duly authorized, executed and delivered purchase, underwriting or similar agreement, or upon exercise,
exchange or conversion, as applicable, of any other Security in accordance with the terms of such other Security providing for such exercise,
exchange or conversion, will be validly issued, fully paid and nonassessable.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect
to Debt Securities offered under the Registration Statement, provided that (i) the Registration Statement and any required post-effective
amendments thereto have all become effective under the Securities Act, and the Prospectus and any and all prospectus supplement(s) relating
to the Prospectus required by applicable laws have been filed and delivered as required by such laws, (ii) the applicable indenture related
to the Debt Securities to be issued, including any supplements thereto, has been duly authorized by the Company by all necessary corporate
action and delivered to and duly accepted by the trustee, (iii) the issuance and sale and the terms of the Debt Securities have been duly
authorized by the Company by all necessary corporate action, (iv) the terms of the applicable indenture, including any supplements thereto,
and the terms of the Debt Securities and their issuance and sale have been duly established in conformity with the applicable indenture
and as described in the Registration Statement, the Prospectus and the prospectus supplement(s) relating to the Prospectus, and do not
violate any applicable laws, are in conformity with the Company's then-operative Articles of Incorporation and Bylaws, do not result in
a default under or breach of any agreement or instrument binding upon the Company and comply with any applicable requirement or restriction
imposed by any court or governmental body having jurisdiction over the Company and (v) the Debt Securities have been duly authenticated
by the indenture trustee and executed and delivered by the Company to the purchasers thereof upon payment in full of the consideration
therefor, then the Debt Securities, when issued and sold as contemplated in the Registration Statement, the Prospectus and the prospectus
supplement(s) relating to the Prospectus and in accordance with such indenture and any supplements thereto, and any applicable duly authorized,
executed and delivered purchase, underwriting or similar agreement, or upon exercise, exchange or conversion, as applicable, of any other
Security in accordance with the terms of such other Security providing for such exercise, exchange or conversion, will be valid and legally
binding obligations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect
to Warrants offered under the Registration Statement, provided that (i) the Registration Statement and any required post-effective amendments
thereto have all become effective under the Securities Act, and the Prospectus and any and all prospectus supplement(s) relating to the
Prospectus required by applicable laws have been filed and delivered as required by such laws, (ii) the applicable warrant agreement under
which the Warrants are to be issued has been duly authorized by the Company by all necessary corporate action, duly authorized by any
applicable warrant agent and duly delivered by the parties, (iii) the issuance and sale and the terms of the Warrants have been duly authorized
by the Company by all necessary corporate action, (iv) the terms of the Warrants and of their issuance and sale have been duly established
in conformity with the applicable warrant agreement and as described in the Registration Statement, the Prospectus and the prospectus
supplement(s) relating to the Prospectus, and do not violate any applicable laws, are in conformity with the Company's then-operative
Articles of Incorporation and Bylaws, do not result in a default under or breach of any agreement or instrument binding upon the Company
and comply with any applicable requirement or restriction imposed by any court or governmental body having jurisdiction over the Company
and (v) the Warrants have been duly executed by the Company and authenticated by any applicable warrant agent pursuant to such warrant
agreement, and delivered to the purchasers thereof upon payment in full of the consideration therefor, then the Warrants, when issued
and sold as contemplated in the Registration Statement, the Prospectus and the prospectus supplement(s) relating to the Prospectus and
in accordance with such warrant agreement, and any applicable duly authorized, executed and delivered purchase, underwriting or similar
agreement, will be valid and legally binding obligations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect
to Depositary Shares offered under the Registration Statement, provided that (i) the Registration Statement and any required post-effective
amendments thereto have all become effective under the Securities Act, and the Prospectus and any and all prospectus supplement(s) relating
to the Prospectus required by applicable laws have been filed and delivered as required by such laws, (ii) the applicable depositary agreement
relating to the Depositary Shares has been duly authorized by the Company by all necessary corporate action, duly authorized by any bank
or trust company designated by the Company as the depositary and duly delivered by the parties, (iii) the issuance and sale and the terms
of the Depositary Shares have been duly authorized by the Company by all necessary corporate action, (iv) the terms of the Depositary
Shares and of their issuance and sale have been duly established in conformity with the applicable depositary agreement and as described
in the Registration Statement, the Prospectus and the prospectus supplement(s) relating to the Prospectus, and do not violate any applicable
laws, are in conformity with the Company's then-operative Articles of Incorporation and Bylaws, do not result in a default under or breach
of any agreement or instrument binding upon the Company and comply with any applicable requirement or restriction imposed by any court
or governmental body having jurisdiction over the Company and (v) the depositary receipts evidencing the Depositary Shares have been duly
executed and delivered by the Company to the purchasers thereof upon payment in full of the consideration therefor, then the Depositary
Shares, when issued and sold as contemplated in the Registration Statement, the Prospectus and the prospectus supplement(s) relating to
the Prospectus and in accordance with any applicable duly authorized, executed and delivered purchase, underwriting or similar agreement,
or upon exercise, exchange or conversion, as applicable, of any other Security in accordance with the terms of such other Security providing
for such exercise, exchange or conversion, will be validly issued, fully paid and nonassessable and the depositary receipts, if any, evidencing
the Depositary Shares will be validly issued and will entitle the holders thereof to the rights specified in the Depositary Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0">Customers Bancorp, Inc.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0">September 3, 2025</P><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: left">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect
to Units offered under the Registration Statement, provided that (i) the Registration Statement and any required post-effective amendments
thereto have all become effective under the Securities Act, and the Prospectus and any and all prospectus supplement(s) relating to the
Prospectus required by applicable laws have been filed and delivered as required by such laws, (ii) the issuance and sale and the terms
of the Units have been duly authorized by the Company by all necessary corporate action, (iii) the terms of the Units and the underlying
Securities relating thereto and their issuance and sale have been duly established as described in the Registration Statement, the Prospectus
and the related prospectus supplement(s), and do not violate any applicable laws, are in conformity with the Company's then-operative
Articles of Incorporation and Bylaws, do not result in a default under or breach of any agreement or instrument binding upon the Company
and comply with any applicable requirement or restriction imposed by any court or governmental body having jurisdiction over the Company
and (iv) the Units have been duly executed and delivered by the Company to the purchasers thereof upon payment in full of the consideration
therefor, then the Units, when issued and sold as contemplated in the Registration Statement, the Prospectus and the prospectus supplement(s)
relating to the Prospectus, as applicable, and in accordance with any applicable duly authorized, executed and delivered purchase, underwriting
or similar agreement, will be valid and legally binding obligations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This opinion is to be used only in connection with
the Registration Statement and the offering of the Securities described herein. This opinion is for your benefit and may be relied upon
by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We hereby consent to your filing of this opinion as
an exhibit to the Registration Statement and we further consent to the reference to our firm under the caption &ldquo;Legal Matters&rdquo;
in the Prospectus and each prospectus supplement relating to the Prospectus and to any reference to our firm in the Registration Statement
as legal counsel who have passed upon the legality of the securities offered thereby. In giving such consent, we do not hereby admit that
we are &ldquo;experts&rdquo; within the meaning of the Securities Act, or the Rules and Regulations of the Commission issued thereunder,
with respect to any part of the Registration Statement, including this exhibit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">/s/ STRADLEY RONON STEVENS &amp; YOUNG, LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">STRADLEY RONON STEVENS &amp; YOUNG, LLP</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in; color: #00B050">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #00B050">&nbsp;</P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We consent to the incorporation by reference in this Registration Statement
on Form S-3 of our reports dated February 28, 2025 relating to the consolidated financial statements of Customers Bancorp, Inc. and subsidiaries,
and the effectiveness of Customers Bancorp, Inc. and subsidiaries&rsquo; internal control over financial reporting, appearing in the Annual
Report on Form 10-K of Customers Bancorp, Inc. and subsidiaries for the year ended December 31, 2024. We also consent to the reference
to us under the heading &ldquo;Experts&rdquo; in such Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">/s/ Deloitte &amp; Touche LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Philadelphia, Pennsylvania</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">September 3, 2025</P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-25.1
<SEQUENCE>4
<FILENAME>ex25-1.htm
<DESCRIPTION>EXHIBIT 25.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 25.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM T-1</B></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/11pt Courier; margin: 0; text-align: justify"><FONT STYLE="font-family: Wingdings"><B>o</B></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">Check
if an Application to Determine Eligibility of a Trustee Pursuant to Section 305(b)(2)</FONT></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of trustee as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>16-1486454</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(I.R.S. employer identification no.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1100 North Market Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Wilmington, DE 19890-0001</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Kyle Barry</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Senior Vice President</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Wilmington Trust Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>285 Delaware Ave.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Buffalo, NY 14202</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(716) 839-6909</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name, address and telephone number of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Customers Bancorp, Inc.</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of obligor as specified in its charter)</P>
    <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 54%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pennsylvania</B></FONT></TD>
    <TD STYLE="width: 46%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>27-2290659</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Courier New, Courier, Monospace; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction of incorporation or organization)</FONT></TD>
    <TD STYLE="font: 10pt Courier New, Courier, Monospace; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>701 Reading Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>West Reading, PA 19611</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices, including
zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Senior Debt Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Title of the indenture securities)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>ITEM 1. GENERAL INFORMATION.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Furnish the following information as to the trustee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 30pt">(a)</TD><TD>Name and address of each examining or supervising authority to which it is subject.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 78pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 78pt">Comptroller of Currency, Washington, D.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 78pt">Federal Deposit Insurance Corporation, Washington, D.C.<BR>
<BR>
</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 30pt">(b)</TD><TD>Whether it is authorized to exercise corporate trust powers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-indent: -0.25in">The trustee is authorized to exercise
corporate trust powers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>ITEM 2.</B></TD><TD><B>AFFILIATIONS WITH THE OBLIGOR.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.75in">If the obligor is an affiliate of the trustee, describe
each affiliation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Based upon an examination of the books and records of the trustee
and information available to the trustee, the obligor is not an affiliate of the trustee.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>ITEM 3 &ndash; 15. </B>Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 48pt"><B>ITEM 16.</B></TD><TD><B>LIST OF EXHIBITS.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 84pt; text-indent: -48pt">Listed below are all exhibits filed as part
of this Statement of Eligibility and Qualification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>A copy of the Charter for Wilmington Trust, National Association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>The authority of Wilmington Trust, National Association to commence business was granted under the Charter for Wilmington Trust, National
Association, incorporated herein by reference to Exhibit 1 above.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">3.</TD><TD>The authorization to exercise corporate trust powers was granted under the Charter for Wilmington Trust, National Association, incorporated
herein by reference to Exhibit 1 above.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">4.</TD><TD>A copy of the existing By-Laws of Trustee, as now in effect, incorporated herein by reference to Exhibit 4of this Form T-1.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">5.</TD><TD>Not applicable.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">6.</TD><TD>The consent of Wilmington Trust, National Association as required by Section 321(b) of the Trust Indenture Act of 1939, attached hereto
as Exhibit 6 of this Form T-1.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">7.</TD><TD>Current Report of the Condition of Wilmington Trust, National Association, published pursuant to law or the requirements of its supervising
or examining authority, attached hereto as Exhibit 7 of this Form T-1.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">8.</TD><TD>Not applicable.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">9.</TD><TD>Not applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Trust Indenture Act of 1939, as amended,
the trustee, Wilmington Trust, National Association, a national banking association organized and existing under the laws of the United
States of America, has duly caused this Statement of Eligibility to be signed on its behalf by the undersigned, thereunto duly authorized,
all in the City of Iselin and State of New Jersey on the  3rd day of September, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in">By: <U>/s/ Latoya S. Elvin</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 6in; text-indent: -3.5in">Name: Latoya S. Elvin</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 6in; text-indent: -3.5in">Title: Vice President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHARTER OF WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ARTICLES OF ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For the purpose of organizing an association to perform
any lawful activities of national banks, the undersigned do enter into the following articles of association:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">FIRST.&#9;The title of this association shall be Wilmington Trust, National
Association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">SECOND.&#9;The main office of the association shall be in the City of Wilmington,
County of New Castle, State of Delaware. The general business of the association shall be conducted at its main office and its branches.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">THIRD.&#9;The board of directors of this association shall consist of not
less than five nor more than twenty-five persons, unless the OCC has exempted the bank from the 25-member limit. The exact number is to
be fixed and determined from time to time by resolution of a majority of the full board of directors or by resolution of a majority of
the shareholders at any annual or special meeting thereof. Each director shall own common or preferred stock of the association or of
a holding company owning the association, with an aggregate par, fair market or equity value $1,000. Determination of these values may
be based as of either (i) the date of purchase or (ii) the date the person became a director, whichever value is greater. Any combination
of common or preferred stock of the association or holding company may be used.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Any vacancy in the board of directors may be filled
by action of a majority of the remaining directors between meetings of shareholders. The board of directors may not increase the number
of directors between meetings of shareholders to a number which:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD>exceeds by more than two the number of directors last elected by shareholders where the number was 15 or less; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD>exceeds by more than four the number of directors last elected by shareholders where the number was 16 or more, but in no event shall
the number of directors exceed 25, unless the OCC has exempted the bank from the 25-member limit.</TD></TR></TABLE>

<P STYLE="font: 10pt/13.8pt Times New Roman, Times, Serif; margin: 0 0 13.6pt; text-indent: 0.25in">Directors shall be elected for terms
of one year and until their successors are elected and qualified. Terms of directors, including directors selected to fill vacancies,
shall expire at the next regular meeting of shareholders at which directors are elected, unless the directors resign or are removed from
office. Despite the expiration of a director's term, the director shall continue to serve until his or her successor is elected and qualifies
or until there is a decrease in the number of directors and his or her position is eliminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Honorary or advisory members of the board of directors,
without voting power or power of final decision in matters concerning the business of the association, may be appointed by resolution
of a majority of the full board of directors, or by resolution of shareholders at any annual or special meeting. Honorary or advisory
directors shall not be counted to determine the number of directors of the association or the presence of a quorum in connection with
any board action, and shall not be required to own qualifying shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">FOURTH.&#9;There shall be an annual meeting of the shareholders to elect
directors and transact whatever other business may be brought before the meeting. It shall be held at the main office or any other convenient
place the board of directors may designate, on the day of each year specified therefor in the bylaws, or, if that day falls on a legal
holiday in the state in which the association is located, on the next following banking day. If no election is held on the day fixed,
or in the event of a legal holiday on the following banking day, an election may be held on any subsequent day within 60 days of the day
fixed, to be designated by the board of directors, or, if the directors fail to fix the day, by shareholders representing two-thirds of
the shares issued and outstanding. In all cases at least 10 days advance notice of the time, place and purpose of a shareholders&rsquo;
meeting shall be given to the shareholders by first class mail, unless the OCC determines that an emergency circumstance exists. The sole
shareholder of the bank is permitted to waive notice of the shareholders&rsquo; meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In all elections of directors, the number of votes
each common shareholder may cast will be determined by multiplying the number of shares such shareholder owns by the number of directors
to be elected. Those votes may be cumulated and cast for a single candidate or may be distributed among two or more candidates in the
manner selected by the shareholder. If, after the first ballot, subsequent ballots are necessary to elect directors, a shareholder may
not vote shares that he or she has already fully cumulated and voted in favor of a successful candidate. On all other questions, each
common shareholder shall be entitled to one vote for each share of stock held by him or her.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Nominations for election to the board of directors
may be made by the board of directors or by any stockholder of any outstanding class of capital stock of the association entitled to vote
for election of directors. Nominations other than those made by or on behalf of the existing management shall be made in writing and be
delivered or mailed to the president of the association not less than 14 days nor more than 50 days prior to any meeting of shareholders
called for the election of directors; provided, however, that if less than 21 days notice of the meeting is given to shareholders, such
nominations shall be mailed or delivered to the president of the association not later than the close of business on the seventh day following
the day on which the notice of meeting was mailed. Such notification shall contain the following information to the extent known to the
notifying shareholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD>The name and address of each proposed nominee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD>The principal occupation of each proposed nominee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3)</TD><TD>The total number of shares of capital stock of the association that will be voted for each proposed nominee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4)</TD><TD>The name and residence address of the notifying shareholder.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5)</TD><TD>The number of shares of capital stock of the association owned by the notifying shareholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.25in">Nominations not made in accordance herewith
may, in his/her discretion, be disregarded by the chairperson of the meeting, and the vote tellers may disregard all votes cast for each
such nominee. No bylaw may unreasonably restrict the nomination of directors by shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.5in">A director may resign at any time by delivering
written notice to the board of directors, its chairperson, or to the association, which resignation shall be effective when the notice
is delivered unless the notice specifies a later effective date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.5in">A director may be removed by shareholders
at a meeting called to remove the director, when notice of the meeting stating that the purpose or one of the purposes is to remove the
director is provided, if there is a failure to fulfill one of the affirmative requirements for qualification, or for cause; provided,
however, that a director may not be removed if the number of votes sufficient to elect the director under cumulative voting is voted against
the director's removal.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">FIFTH.&#9;The authorized amount of capital stock of this association shall
be ten thousand shares of common stock of the par value of one hundred dollars ($100) each; but said capital stock may be increased or
decreased from time to time, according to the provisions of the laws of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">No holder of shares of the capital stock of any class
of the association shall have any preemptive or preferential right of subscription to any shares of any class of stock of the association,
whether now or hereafter authorized, or to any obligations convertible into stock of the association, issued, or sold, nor any right of
subscription to any thereof other than such, if any, as the board of directors, in its discretion, may from time to time determine and
at such price as the board of directors may from time to time fix. Preemptive rights also must be approved by a vote of holders of two-thirds
of the bank&rsquo;s outstanding voting shares. Unless otherwise specified in these articles of association or required by law, (1) all
matters requiring shareholder action, including amendments to the articles of association, must be approved by shareholders owning a majority
voting interest in the outstanding voting stock, and (2) each shareholder shall be entitled to one vote per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unless otherwise specified in these articles of association
or required by law, all shares of voting stock shall be voted together as a class, on any matters requiring shareholder approval. If a
proposed amendment would affect two or more classes or series in the same or a substantially similar way, all the classes or series so
affected must vote together as a single voting group on the proposed amendment.</P>

<P STYLE="font: 10pt Courier; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Shares of one class or series may be issued as a dividend
for shares of the same class or series on a pro rata basis and without consideration. Shares of one class or series may be issued as share
dividends for a different class or series of stock if approved by a majority of the votes entitled to be cast by the class or series to
be issued, unless there are no outstanding shares of the class or series to be issued. Unless otherwise provided by the board of directors,
the record date for determining shareholders entitled to a share dividend shall be the date authorized by the board of directors for the
share dividend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-indent: 0.5in">&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-indent: 0.5in">Unless otherwise provided in the bylaws,
the record date for determining shareholders entitled to notice of and to vote at any meeting is the close of business on the day before
the first notice is mailed or otherwise sent to the shareholders, provided that in no event may a record date be more than 70 days before
the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If a shareholder is entitled to fractional shares pursuant
to a stock dividend, consolidation or merger, reverse stock split or otherwise, the association may: (a) issue fractional shares; (b)
in lieu of the issuance of fractional shares, issue script or warrants entitling the holder to receive a full share upon surrendering
enough script or warrants to equal a full share; (c) if there is an established and active market in the association's stock, make reasonable
arrangements to provide the shareholder with an opportunity to realize a fair price through sale of the fraction, or purchase of the additional
fraction required for a full share; (d) remit the cash equivalent of the fraction to the shareholder; or (e) sell full shares representing
all the fractions at public auction or to the highest bidder after having solicited and received sealed bids from at least three licensed
stock brokers; and distribute the proceeds pro rata to shareholders who otherwise would be entitled to the fractional shares. The holder
of a fractional share is entitled to exercise the rights for shareholder, including the right to vote, to receive dividends, and to participate
in the assets of the association upon liquidation, in proportion to the fractional interest. The holder of script or warrants is not entitled
to any of these rights unless the script or warrants explicitly provide for such rights. The script or warrants may be subject to such
additional conditions as: (1) that the script or warrants will become void if not exchanged for full shares before a specified date; and
(2) that the shares for which the script or warrants are exchangeable may be sold at the option of the association and the proceeds paid
to scriptholders.</P>

<P STYLE="font: 10pt Courier; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 8.25pt 0 0; text-indent: 0.5in">The association, at any time and from time
to time, may authorize and issue debt obligations, whether or not subordinated, without the approval of the shareholders. Obligations
classified as debt, whether or not subordinated, which may be issued by the association without the approval of shareholders, do not carry
voting rights on any issue, including an increase or decrease in the aggregate number of the securities, or the exchange or reclassification
of all or part of securities into securities of another class or series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 8.25pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 8.25pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Courier; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">SIXTH.&#9;The board of directors shall appoint one of its members president
of this association, and one of its members chairperson of the board and shall have the power to appoint one or more vice presidents,
a secretary who shall keep minutes of the directors' and shareholders' meetings and be responsible for authenticating the records of the
association, and such other officers and employees as may be required to transact the business of this association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A duly appointed officer may appoint one or more officers
or assistant officers if authorized by the board of directors in accordance with the bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The board of directors shall have the power to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD>Define the duties of the officers, employees, and agents of the association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD>Delegate the performance of its duties, but not the responsibility for its duties, to the officers, employees, and agents of the association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3)</TD><TD>Fix the compensation and enter into employment contracts with its officers and employees upon reasonable terms and conditions consistent
with applicable law.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4)</TD><TD>Dismiss officers and employees.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5)</TD><TD>Require bonds from officers and employees and to fix the penalty thereof.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6)</TD><TD>Ratify written policies authorized by the association's management or committees of the board.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7)</TD><TD>Regulate the manner in which any increase or decrease of the capital of the association shall be made, provided that nothing herein
shall restrict the power of shareholders to increase or decrease the capital of the association in accordance with law, and nothing shall
raise or lower from two-thirds the percentage required for shareholder approval to increase or reduce the capital.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">8)</TD><TD>Manage and administer the business and affairs of the association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">9)</TD><TD>Adopt initial bylaws, not inconsistent with law or the articles of association, for managing the business and regulating the affairs
of the association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">10)</TD><TD>Amend or repeal bylaws, except to the extent that the articles of association reserve this power in whole or in part to shareholders.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">11)</TD><TD>Make contracts.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">12)</TD><TD>Generally perform all acts that are legal for a board of directors to perform.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">SEVENTH.&#9;The board of directors shall have the power to change the location
of the main office to any other place within the limits of Wilmington, Delaware, without the approval of the shareholders, or with a vote
of shareholders owning two-thirds of the stock of such association for a relocation outside such limits and upon receipt of a certificate
of approval from the Comptroller of the Currency, to any other location within or outside the limits of Wilmington Delaware, but not more
than 30 miles beyond such limits. The board of directors shall have the power to establish or change the location of any branch or branches
of the association to any other location permitted under applicable law, without approval of shareholders, subject to approval by the
Comptroller of the Currency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">EIGHTH.&#9;The corporate existence of this association shall continue until
termination according to the laws of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">NINTH.&#9;The board of directors of this association, or any one or more
shareholders owning, in the aggregate, not less than 50 percent of the stock of this association, may call a special meeting of shareholders
at any time. Unless otherwise provided by the bylaws or the laws of the United States, a notice of the time, place, and purpose of every
annual and special meeting of the shareholders shall be given at least 10 days prior to the meeting by first-class mail, unless the OCC
determines that an emergency circumstance exists. If the association is a wholly-owned subsidiary, the sole shareholder may waive notice
of the shareholders&rsquo; meeting. Unless otherwise provided by the bylaws or these articles, any action requiring approval of shareholders
must be effected at a duly called annual or special meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">TENTH.&#9;For purposes of this Article Tenth, the term &ldquo;institution-affiliated
party&rdquo; shall mean any institution-affiliated party of the association as such term is defined in 12 U.S.C. 1813(u).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any institution-affiliated party (or his or her heirs,
executors or administrators) may be indemnified or reimbursed by the association for reasonable expenses actually incurred in connection
with any threatened, pending or completed actions or proceedings and appeals therein, whether civil, criminal, governmental, administrative
or investigative, in accordance with and to the fullest extent permitted by law, as such law now or hereafter exists; provided, however,
that when an administrative proceeding or action instituted by a federal banking agency results in a final order or settlement pursuant
to which such person: (i) is assessed a civil money penalty, (ii) is removed from office or prohibited from participating in the conduct
of the affairs of the association, or (iii) is required to cease and desist from or to take any affirmative action described in 12 U.S.C.
1818(b) with respect to the association, then the association shall require the repayment of all legal fees and expenses advanced pursuant
to the next succeeding paragraph and may not indemnify such institution-affiliated parties (or their heirs, executors or administrators)
for expenses, including expenses for legal fees, penalties or other payments incurred. The association shall provide indemnification in
connection with an action or proceeding (or part thereof) initiated by an institution-affiliated party (or by his or her heirs, executors
or administrators) only if such action or proceeding (or part thereof) was authorized by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Expenses incurred by an institution-affiliated party
(or by his or her heirs, executors or administrators) in connection with any action or proceeding under 12 U.S.C. 164 or 1818 may be paid
by the association in advance of the final disposition of such action or proceeding upon (a) a determination by the board of directors
acting by a quorum consisting of directors who are not parties to such action or proceeding that the institution-affiliated party (or
his or her heirs, executors or administrators) has a reasonable basis for prevailing on the merits, (b) a determination that the indemnified
individual (or his or her heirs, executors or administrators) will have the financial capacity to reimburse the bank in the event he or
she does not prevail, (c) a determination that the payment of expenses and fees by the association will not adversely affect the safety
and soundness of the association, and (d) receipt of an undertaking by or on behalf of such institution-affiliated party (or by his or
her heirs, executors or administrators) to repay such advancement in the event of a final order or settlement pursuant to which such person:
(i) is assessed a civil money penalty, (ii) is removed from office or prohibited from participating in the conduct of the affairs of the
association, or (iii) is required to cease and desist from or to take any affirmative action described in 12 U.S.C. 1818(b) with respect
to the association. In all other instances, expenses incurred by an institution-affiliated party (or by his or her heirs, executors or
administrators) in connection with any action or proceeding as to which indemnification may be given under these articles of association
may be paid by the association in advance of the final disposition of such action or proceeding upon (a) receipt of an undertaking by
or on behalf of such institution-affiliated party (or by or on behalf of his or her heirs, executors or administrators) to repay such
advancement in the event that such institution-affiliated party (or his or her heirs, executors or administrators) is ultimately found
not to be entitled to indemnification as authorized by these articles of association and (b) approval by the board of directors acting
by a quorum consisting of directors who are not parties to such action or proceeding or, if such a quorum is not obtainable, then approval
by stockholders. To the extent permitted by law, the board of directors or, if applicable, the stockholders, shall not be required to
find that the institution-affiliated party has met the applicable standard of conduct provided by law for indemnification in connection
with such action or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Courier; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event that a majority of the members of the
board of directors are named as respondents in an administrative proceeding or civil action and request indemnification, the remaining
members of the board may authorize independent legal counsel to review the indemnification request and provide the remaining members of
the board with a written opinion of counsel as to whether the conditions delineated in the first four paragraphs of this Article Tenth
have been met. If independent legal counsel opines that said conditions have been met, the remaining members of the board of directors
may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event that all of the members of the board of
directors are named as respondents in an administrative proceeding or civil action and request indemnification, the board shall authorize
independent legal counsel to review the indemnification request and provide the board with a written opinion of counsel as to whether
the conditions delineated in the first four paragraphs of this Article Tenth have been met. If legal counsel opines that said conditions
have been met, the board of directors may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">To the extent permitted under applicable law, the rights
of indemnification and to the advancement of expenses provided in these articles of association (a) shall be available with respect to
events occurring prior to the adoption of these articles of association, (b) shall continue to exist after any restrictive amendment of
these articles of association with respect to events occurring prior to such amendment, (c) may be interpreted on the basis of applicable
law in effect at the time of the occurrence of the event or events giving rise to the action or proceeding, or on the basis of applicable
law in effect at the time such rights are claimed, and (d) are in the nature of contract rights which may be enforced in any court of
competent jurisdiction as if the association and the institution-affiliated party (or his or her heirs, executors or administrators) for
whom such rights are sought were parties to a separate written agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The rights of indemnification and to the advancement
of expenses provided in these articles of association shall not, to the extent permitted under applicable law, be deemed exclusive of
any other rights to which any such institution affiliated party (or his or her heirs, executors or administrators) may now or hereafter
be otherwise entitled whether contained in these articles of association, the bylaws, a resolution of stockholders, a resolution of the
board of directors, or an agreement providing such indemnification, the creation of such other rights being hereby expressly authorized.
Without limiting the generality of the foregoing, the rights of indemnification and to the advancement of expenses provided in these articles
of association shall not be deemed exclusive of any rights, pursuant to statute or otherwise, of any such institution-affiliated party
(or of his or her heirs, executors or administrators) in any such action or proceeding to have assessed or allowed in his or her favor,
against the association or otherwise, his or her costs and expenses incurred therein or in connection therewith or any part thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-indent: 0.5in">If this Article Tenth or any part hereof
shall be held unenforceable in any respect by a court of competent jurisdiction, it shall be deemed modified to the minimum extent necessary
to make it enforceable, and the remainder of this Article Tenth shall remain fully enforceable.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The association may, upon affirmative vote of a majority
of its board of directors, purchase insurance to indemnify its institution-affiliated parties to the extent that such indemnification
is allowed in these articles of association; provided, however, that no such insurance shall include coverage to pay or reimburse any
institution-affiliated party for the cost of any judgment or civil money penalty assessed against such person in an administrative proceeding
or civil action commenced by any federal banking agency. Such insurance may, but need not, be for the benefit of all institution-affiliated
parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">ELEVENTH.&#9;These articles of association may be amended at any regular
or special meeting of the shareholders by the affirmative vote of the holders of a majority of the stock of this association, unless the
vote of the holders of a greater amount of stock is required by law, and in that case by the vote of the holders of such greater amount.
The association's board of directors may propose one or more amendments to the articles of association for submission to the shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT 4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#9;<B>BY-LAWS OF WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.4pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Courier; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AMENDED AND RESTATED BYLAWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Effective as of March 7, 2024)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">AMENDED AND RESTATED
BYLAWS <FONT STYLE="letter-spacing: -0.3pt">OF</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">WILMINGTON TRUST, NATIONAL
<FONT STYLE="letter-spacing: -0.1pt">ASSOCIATION</FONT></P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.5pt">I</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Meetings of <FONT STYLE="letter-spacing: -0.1pt">Shareholders</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 7.95pt 0 0"><B>Section 1. Annual Meeting</B>. The annual meeting of
shareholders shall be held on such date and at such time as may be designated by the chair of the Board of Directors, the chief executive
officer, the president, the chief operating officer, the secretary, or the Board of Directors for the purpose of the election of directors
and for the transaction of such other business as may properly come before the meeting, except such date shall not be a legal holiday
in Delaware. Notice of the meeting shall be mailed by first class mail, postage prepaid, at least 10 days and no more than 60 days prior
to the date thereof, addressed to each shareholder at his or her address appearing on the books of the association. If, for any cause,
an election of directors is not made on that date, an election may be held on any subsequent day within 60 days of the date fixed, to
be designated by the Board of Directors, or, if the directors fail to fix the date, by shareholders representing two-thirds of the shares.
In these circumstances, at least 10 days&rsquo; notice must be given by first class mail to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 2. Special Meetings</B>. The chair of the Board of
Directors, the president, the chief executive officer, the secretary, or the Board of Directors may call a special meeting of the shareholders.
A special meeting shall be called to act on any matter that may properly be considered at a meeting of shareholders upon the written request
of shareholders entitled to cast not less than a majority of all the votes entitled to be cast on such matter at the meeting. Every such
special meeting, unless otherwise provided by law, shall be called by mailing, postage prepaid, not less than 10 days nor more than 60
days prior to the date fixed for the meeting, to each shareholder at the address appearing on the books of the association a notice stating
the purpose of the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Board of Directors may fix a record date for determining shareholders
entitled to notice and to vote at any meeting, in reasonable proximity to the date of giving notice to the shareholders of such meeting.
The record date for determining shareholders entitled to demand a special meeting is the date the first shareholder signs a demand for
the meeting describing the purpose or purposes for which it is to be held.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.25pt 0 0"><B>Section 3. Adjournment</B>. If an annual or special shareholders'
meeting is adjourned to a different date, time, or place, notice need not be given of the new date, time or place, if the new date, time
or place is announced at the meeting before adjournment, unless any additional items of business are to be considered, or the association
becomes aware of an intervening event materially affecting any matter to be voted on more than 10 days prior to the date to which the
meeting is adjourned. If a new record date for the adjourned meeting is fixed, however, notice of the adjourned meeting must be given
to persons who are shareholders as of the new record date. If, however, the meeting to elect the directors is adjourned before the election
takes place, at least ten days&rsquo; notice of the new election must be given to the shareholders by first-class mail.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.75pt 7.95pt 0 0"><B>Section 4. Nominations of Directors</B>. Nominations
for election to the Board of Directors may be made by the Board of Directors or by any shareholder of any outstanding class of capital
stock of the association entitled to vote for the election of directors. Nominations, other than those made by or on behalf of the existing
management of the association, shall be made in writing and shall be delivered or mailed to the president of the association, not less
than 14 days nor more than 50 days prior to any meeting of shareholders called for the election of directors; <I>provided, however, </I>that
if less than 21 days' notice of the meeting is given to shareholders, such nomination shall be mailed or delivered to the president of
the association not later than the close of business on the seventh day following the day on which the notice of meeting was mailed. Such
notification shall contain the following information to the extent known to the notifying shareholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 35.95pt"><FONT STYLE="letter-spacing: -0.05pt">(1)</FONT></TD><TD>The name and address of each proposed <FONT STYLE="letter-spacing: -0.1pt">nominee;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 35.95pt"><FONT STYLE="letter-spacing: -0.05pt">(2)</FONT></TD><TD>The principal occupation of each proposed <FONT STYLE="letter-spacing: -0.1pt">nominee;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="letter-spacing: -0.05pt">(3)</FONT></TD><TD STYLE="padding-right: 5.3pt">The total number of shares of capital stock of the association that will be voted for each proposed nominee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 35.95pt"><FONT STYLE="letter-spacing: -0.05pt">(4)</FONT></TD><TD>The name and residence of the notifying shareholder; <FONT STYLE="letter-spacing: -0.25pt">and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="letter-spacing: -0.05pt">(5)</FONT></TD><TD STYLE="padding-right: 18.55pt">The number of shares of capital stock of the association owned by the notifying <FONT STYLE="letter-spacing: -0.1pt">shareholder</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0">Nominations not made in accordance herewith may, in his/her
discretion, be disregarded by the chair of the meeting, and upon his/her instructions, all votes cast for each such nominee may be disregarded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.05pt 0 0"><B>Section 5. Proxies</B>. Shareholders may vote at any meeting
of the shareholders by proxies duly authorized in writing, but no officer or employee of this association shall act as proxy. A director
or an attorney of the association may act as proxy for shareholders voting if they are not also employed as an officer of the association.
Proxies shall be valid only for one meeting, to be specified therein, and any adjournments of such meeting. Proxies shall be dated and
filed with the records of the meeting. Proxies with facsimile signatures may be used and unexecuted proxies may be counted upon receipt
of a written confirmation from the shareholder. Proxies meeting the above requirements submitted at any time during a meeting shall be
<FONT STYLE="letter-spacing: -0.1pt">accepted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.4pt 0 0"><B>Section 6. Quorum</B>. A majority of the outstanding capital
stock, represented in person or by proxy, shall constitute a quorum at any meeting of shareholders, unless otherwise provided by law,
but less than a quorum may adjourn any meeting, from time to time, and the meeting may be held, as adjourned, without further notice.
A majority of the votes cast shall decide every question or matter submitted to the shareholders at any meeting, unless otherwise provided
by law or by the articles of association. If a meeting for the election of directors is not held on the fixed date, at least 10 days&rsquo;
notice must be given by first-class mail to the shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.4pt 0 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">II</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><U>Directors</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0"><B>Section 1. Board of Directors</B>. The Board of Directors shall
have the power to manage and administer the business and affairs of the association. Except as expressly limited by law, all corporate
powers of the association shall be vested in and may be exercised by the Board of <FONT STYLE="letter-spacing: -0.1pt">Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.25pt 0 0"><B>Section 2. Number</B>. The Board of Directors shall consist
of not less than five nor more than twenty-five members, unless the OCC has exempted the association from the 25-member limit. The exact
number within such minimum and maximum limits is to be fixed and determined from time to time by resolution of a majority of the full
Board of Directors or by resolution of a majority of the shareholders at any meeting thereof. The Board of Directors may not increase
the number of directors between meetings of shareholders to a number which: (a) exceeds by more than 2 the number of directors last elected
by shareholders where the number was 15 or less; or (b) exceeds by more than 4 the number of directors last elected by shareholders where
the number was 16 or more, but in no event shall the number of directors exceed 25, unless the OCC has exempted the association from the
25-member limit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Section 3. Qualifications.</B> Each director must be a citizen of the
United States and must own in his or her own right either shares of the capital stock of the association or a company that controls the
association that has not less than an aggregate par value of $1,000, an aggregate shareholders&rsquo; equity of $1,000, or an aggregate
fair market value of $1,000. The value of the common or preferred stock held by a director is valued as of the date purchased or the date
on which the individual became a director, whichever is greater.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.25pt 0 0"><B>Section 4. Organization Meeting</B>.&#9;After each annual
meeting of shareholders at which directors shall have been elected, the Board of Directors shall meet as soon as practicable for the purpose
of organization and the transaction of other business. Such first regular meeting shall be held at any place as may be designated by the
chair, the president or the Board of Directors for such first regular meeting or, in default of such designation, where the immediately
preceding meeting of shareholders was held.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 7.05pt 0 0; text-align: justify"><B>Section 5. Regular Meetings</B>.
Regular meetings of the Board of Directors shall be held on such dates and at such places as may be designated from time to time by the
chair. No notice of regular meetings shall be necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.55pt 0 0"><B>Section 6. Special Meetings</B>. Special meetings of the
Board of Directors may be called at any time by the chair, the chief executive officer, the president or by a majority of the then- acting
directors by vote at a meeting or in writing, or by a majority of the members of the executive committee, if one is constituted, by vote
at a meeting or in writing. A special meeting of the Board of Directors shall be held on such date and at any place as may be designated
from time to time by the Board of Directors. In the absence of such designation, such meeting shall be held at such place as may be designated
in the call. Each member of the Board of Directors shall be given notice stating the date, time and place, by letter, electronic delivery
or in person, of <FONT STYLE="letter-spacing: -0.2pt">each</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 21.95pt 0 0">special meeting not less than one day before the meeting.
Such notice need not specify the purpose for which the meeting is called, unless required by the Articles of Association or the <FONT STYLE="letter-spacing: -0.1pt">bylaws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.8pt 0 0"><B>Section 7. Quorum</B>. A majority of the entire Board then
in office shall constitute a quorum at any meeting, except when otherwise provided by law or these Bylaws, but a lesser number may adjourn
any meeting, from time to time, and the meeting may be held, as adjourned, without further notice. If the number of directors present
at the meeting is reduced below the number that would constitute a quorum, no business may be transacted, except selecting directors to
fill vacancies in conformance with Article II, Section 11. If a quorum is present, the board of directors may take action through the
vote of a majority of the directors who are in attendance. No director may vote by proxy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 3.45pt 0 0"><B>Section 8. Attendance by Electronic, Telephonic or Similar
Means.</B> Any one or more members of the Board of Directors or any committee thereof may participate in a regular or special meeting
of such board or committee by, or conduct the meeting through the use of, <FONT STYLE="color: #333333">conference telephone or other communications
equipment </FONT>by which all directors or committee members participating may simultaneously hear each other during the meeting. Participation
in a meeting by these means constitutes presence in person at a meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 21.95pt 0 0"><B>Section 9. Procedures</B>. The order of business and all
other matters of procedure at every meeting of the Board of Directors may be determined by the person presiding at the <FONT STYLE="letter-spacing: -0.1pt">meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 10. Removal of Directors</B>. Any director may be
removed for cause at any meeting of shareholders, notice of which shall have referred to the proposed action, by vote of the shareholders.
Any director may be removed without cause at any meeting of shareholders, notice of which shall have referred to the proposed action,
by the vote of the holders of a majority of the shares of the association entitled to vote. Any director may be removed for cause at any
meeting of the directors, notice of which shall have referred to the proposed action, by vote of a majority of the entire Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 6.25pt 0 0"><B>Section 11. Vacancies</B>. When any vacancy occurs among
the directors, a majority of the remaining members of the Board of Directors may appoint a director to fill such vacancy until the next
election at any regular meeting of the Board of Directors, or at a special meeting called for that purpose at which a quorum is present,
or if the directors remaining in office constitute fewer than a quorum of the Board of Directors, by the affirmative vote of a majority
of all the directors remaining in office, or by shareholders at a special meeting called for that purpose in conformance with Section
2 of Article I. A vacancy that will occur at a specific later date (by reason of a resignation effective at a later date) may be filled
before the vacancy occurs but the new director may not take office until the vacancy occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.25pt 0 0"><B>Section 12. Consent of Directors without a Meeting</B>. Any
action required or permitted to be taken at any meeting of the Board of Directors may be taken without a meeting if the action is taken
by all members of the Board. The action may be evidenced by one or more written consents signed by each director before or after such
action, describing the action taken, and</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 0 0">included in the minutes or filed with the corporate records. A
director&rsquo;s consent to action taken without a meeting may be in electronic form and delivered by electronic means.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.45pt 0 0"><B>Section 13. Ratification</B>. The board of directors may
ratify and make binding on the association any action or inaction by the association or its officers to the extent that the Board of Directors
or the shareholders could have originally authorized the matter and as permitted by law. Moreover, any action or inaction questioned in
any shareholders&rsquo; derivative proceeding or any other proceeding on the ground of lack of authority, defective or irregular execution,
adverse interest of a director, officer or shareholder, non-disclosure, miscomputation, the application of improper principles or practices
of accounting or otherwise, may be ratified, before or after judgment, by the Board of Directors or by the shareholders, and if so ratified,
shall have the same force and effect as if the questioned action or inaction had been originally duly authorized, and such ratification
shall be binding upon the shareholders and shall constitute a bar to any claim or execution of any judgment in respect of such questioned
action or inaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">III</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><U>Committees</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 7.95pt 0 0"><B>Section 1. Executive Committee</B>. The Board of Directors
may appoint an Executive Committee, which shall have and may exercise, during the intervals between meetings of the Board of Directors,
all the powers of the Board of Directors in the management of the business, properties and affairs of the association except as prohibited
by law, the Articles of Association or these Bylaws. All acts done and powers conferred by the Executive Committee shall be deemed to
be and may be certified as being, done or conferred under authority of the Board of <FONT STYLE="letter-spacing: -0.1pt">Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 2. Trust Audit Committee.</B> Unless delegated pursuant
to Section 5 of this Article III, there shall be a Trust Audit Committee composed of not less than 2 directors, appointed by the Board
of Directors, which shall, at least once during each calendar year make suitable audits of the association&rsquo;s fiduciary activities
or cause suitable audits to be made by auditors responsible only to the Board, and at such time shall ascertain whether fiduciary powers
have been administered according to law, Part 9 of the Regulations of the Comptroller of the Currency, and sound fiduciary principles.
Such committee: (1) must not include any officers of the association or an affiliate who participate significantly in the administration
of the association&rsquo;s fiduciary activities; and (2) must consist of a majority of members who are not also members of any committee
to which the Board of Directors has delegated power to manage and control the fiduciary activities of the bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 3. Examining Committee</B>. Unless delegated pursuant
to Section 5 of this Article III, there shall be an examining committee composed of not less than 2 directors, exclusive of any active
officers, appointed by the board of directors annually or more often. The duty of that committee shall be to examine at least once during
each calendar year and within 15 months of the last examination the affairs of the association or cause suitable examinations to be made
by auditors responsible only to the board of directors and to report the result of such examination in writing to the board of directors
at the next regular meeting thereafter. Such</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 0 0">report shall state whether the association is in a sound condition,
and whether adequate internal controls and procedures are being maintained and shall recommend to the board of directors such changes
in the manner of conducting the affairs of the association as shall be deemed advisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.05pt 0 0"><B>Section 4. Other Committees</B>. The Board of Directors may
from time to time by resolution adopted by affirmative vote of a majority of the Board of Directors, appoint other committees of the Board
of Directors which shall have such powers and duties as the Board of Directors may properly determine. No such other committee of the
Board of Directors shall be composed of fewer than three (3) directors. The Board of Directors may also appoint one or more directors
as alternative members of a committee. All acts done and powers conferred by the Board of Directors on committees of the Board of Directors
shall be deemed to be and may be certified as being, done or conferred under that authority of the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 5. Delegation of Responsibility and Authority</B>.
The responsibility, authority and constitution of any committee under this Article III may, if authorized by law, be given over to a duly
constituted committee of the association&rsquo;s parent corporation by resolution adopted by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">IV</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Officers and <FONT STYLE="letter-spacing: -0.1pt">Employees</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 6.25pt 0 0"><B>Section 1 Officers.</B> The Board of Directors shall
annually, at the Annual Reorganization Meeting of the Board of Directors following the annual meeting of shareholders, appoint or elect
a chair of the Board, a chief executive officer, a president, one (1) or more senior executive vice presidents, a corporate secretary,
a treasurer, a chief auditor, and such other officers as it may determine, each to hold office until the next Annual Reorganization meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0">The officers below the level of senior executive vice president
may be elected as follows: the head of the Human Resources Department of M&amp;T Bank, or his or her designee, may appoint officers up
to and including (without limitation as to title or number) one (1) or more executive vice presidents, senior vice presidents, vice presidents,
assistant vice presidents, assistant secretaries, assistant treasurers, and assistant auditors, and any other officer positions as they
deem necessary and appropriate, except the chair of the board, chief executive officer, president, any &ldquo;Executive Officer&rdquo;
of the association for the purposes of Regulation O (codified at 12</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">C.F.R. &sect;215.2(e)(1)), and any &ldquo;Senior Executive Officer&rdquo;
within the meaning of 12 <FONT STYLE="letter-spacing: -0.1pt">C.F.R.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&sect;5.51(c)(4) may only be appointed by the Board of <FONT STYLE="letter-spacing: -0.1pt">Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 2. Chair of the Board</B>. The Board of Directors
shall appoint one of its members to be the chair of the Board to serve at its pleasure. Such person shall preside at all meetings of the
Board of Directors. The chair of the Board shall supervise the carrying out of the policies adopted or approved by the Board of Directors;
shall have general executive powers, as well as the specific powers conferred by these Bylaws; and shall also have and may exercise such
further powers and duties as from time to time may be conferred upon or assigned by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Section 3. President</B>. The Board of Directors shall appoint one of
its members to be the president of the association. The president shall be a member of the Board of Directors. In the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 6.25pt 0 0">absence of the chair, the president shall preside at any
meeting of the Board of Directors. The president shall have general executive powers and shall have and may exercise any and all other
powers and duties pertaining by law, regulation, or practice to the office of president, or imposed by these Bylaws. The president shall
also have and may exercise such further powers and duties as from time to time may be conferred or assigned by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 21.95pt 0 0"><B>Section 4. Vice President</B>. The Board of Directors may
appoint one or more vice presidents. Each vice president shall have such powers and duties as may be assigned by the Board of Directors.
One vice president shall be designated by the Board of Directors, in the absence of the president, to perform all the duties of the president.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 5. Secretary</B>. The Board of Directors shall appoint
a secretary or other designated officer who shall be secretary of the Board of Directors and of the association and who shall keep accurate
minutes of all meetings. The secretary shall attend to the giving of all notices required by these Bylaws; shall be custodian of the corporate
seal, records, documents and papers of the association; shall provide for the keeping of proper records of all transactions of the association;
shall have and may exercise any and all other powers and duties pertaining by law, regulation or practice, or imposed by these bylaws;
and shall also perform such other duties as may be assigned from time to time, by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.55pt 0 0"><B>Section 6. Other Officers</B>. The Board of Directors may
appoint one or more assistant vice presidents, one or more trust officers, one or more officers, one or more assistant secretaries, one
or more assistant treasurers, one or more managers and assistant managers of branches and such other officers and attorneys in fact as
from time to time may appear to the Board of Directors to be required or desirable to transact the business of the association. Such officers
shall respectively exercise such powers and perform such duties as pertain to their several offices, or as may be conferred upon or assigned
to them by the Board of Directors, the chair of the Board, or the president. The Board of Directors may authorize an officer to appoint
one or more officers or assistant officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><B>Section 7. Resignation</B>. An officer may resign at any time
by delivering notice to the association. A resignation is effective when the notice is given unless the notice specifies a later effective
date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.5pt">V</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Stock and Stock <FONT STYLE="letter-spacing: -0.1pt">Certificates</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 7.65pt 0 0"><B>Section 1. Transfers</B>. Shares of stock shall be transferable
on the books of the association, and a transfer book shall be kept in which all transfers of stock shall be recorded. Every person becoming
a shareholder by such transfer shall in proportion to such shareholder's shares, succeed to all rights of the prior holder of such shares.
The Board of Directors may impose conditions upon the transfer of the stock reasonably calculated to simplify the work of the association
with respect to stock transfers, voting at shareholder meetings and related matters and to protect it against fraudulent transfers.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 7.95pt 0 0"><B>Section 2. Stock Certificates</B>. Certificates of stock
shall bear the signature of the president (which may be engraved, printed or impressed) and shall be signed manually, by facsimile process,
or electronic means by the secretary, assistant secretary, treasurer, assistant treasurer, or any other officer appointed by the Board
of Directors for that purpose, to be known as an authorized officer, and the seal of the association shall be engraved thereon. Each certificate
shall recite on its face that the stock represented thereby is transferable only upon the books of the association properly endorsed and
otherwise comply with the requirements of 12</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">U.S.C. 52 and 12 C.F.R. <FONT STYLE="letter-spacing: -0.1pt">&sect;7.2016(b).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.25pt 0 0"><B>Section 3. Lost, Stolen or Destroyed Certificates</B>. In
case any certificate representing shares shall be lost, stolen or destroyed, the Board of Directors, in its discretion, or any officer
or officers thereunder duly authorized by the Board of Directors, may authorize the issue of a substitute certificate or substitute shares
in uncertificated form in the place of the certificate so lost, stolen or destroyed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 0"><B>Section 4. Fixing of Record Date</B>. The Board of Directors
may set, in advance, a record date for the purpose of determining shareholders entitled to notice of or to vote at any meeting of shareholders
or determining shareholders entitled to receive payment of any dividend or the allotment of any other rights, in order to make a determination
of shareholders for any other proper purpose. Such date, in any case, shall be the close of business on the day before the first notice
is mailed or otherwise sent to the shareholders, provided that in no event may a record date be more than 10 days before the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">VII</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Corporate <FONT STYLE="letter-spacing: -0.2pt">Seal</FONT></U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 7.95pt 0 0"><B>Section 1. Seal</B>. The seal of the association shall
be in such form as may be determined from time to time by the Board of Directors. The president, the treasurer, the secretary or any assistant
treasurer or assistant secretary, or other officer thereunto designated by the Board of Directors shall have authority to affix the corporate
seal to any document requiring such seal and to attest the same. The seal on any corporate obligation for the payment of money may be
<FONT STYLE="letter-spacing: -0.1pt">facsimile.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.2pt">VIII</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Miscellaneous <FONT STYLE="letter-spacing: -0.1pt">Provisions</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0"><B>Section 1. Fiscal Year</B>. The fiscal year of the association
shall be the calendar <FONT STYLE="letter-spacing: -0.1pt">year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 7.95pt 0 0"><B>Section 2. Execution of Instruments</B>. All agreements,
indentures, mortgages, deeds, conveyances, transfers, certificates, declarations, receipts, discharges, releases, satisfactions, settlements,
petitions, schedules, accounts, affidavits, bonds, undertakings, proxies and other instruments or documents may be signed, executed, acknowledged,
verified, delivered or accepted on behalf of the association by any officer elected or appointed pursuant to Article IV of these Bylaws.
Any such instruments may also be executed, acknowledged, verified, delivered or accepted on behalf of the association in such other manner
and by such other officers as the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 21.95pt 0 0">Board of Directors may from time to time direct. The provisions
of this Section 2 are supplementary to any other provision of these Bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 3. Records</B>. The Articles of Association, the
Bylaws and the proceedings of all meetings of the shareholders, the Board of Directors, and standing committees of the Board of Directors
shall be recorded in appropriate minute books provided for that purpose. The minutes of each meeting shall be signed by the secretary,
treasurer or other officer appointed to act as secretary of the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 23.25pt 0 0; text-align: justify"><B>Section 4. Corporate Governance Procedures.</B>
To the extent not inconsistent with federal banking statutes and regulations, or safe and sound banking practices, the association may
follow the Delaware General Corporation Law, Del. Code Ann. tit. 8 (1991, as amended 1994, and as amended thereafter) with respect to
matters of corporate governance <FONT STYLE="letter-spacing: -0.1pt">procedures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 12.25pt 0 0"><B>Section 5. Indemnification.</B> For purposes of this Section
5 of Article VIII, the term &ldquo;institution-affiliated party&rdquo; shall mean any institution-affiliated party of the association
as such term is defined in 12 U.S.C. 1813(u).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5pt 0 0">Any institution-affiliated party (or his or her heirs, executors
or administrators) may be indemnified or reimbursed by the association for reasonable expenses actually incurred in connection with any
threatened, pending or completed actions or proceedings and appeals therein, whether civil, criminal, governmental, administrative or
investigative, in accordance with and to the fullest extent permitted by law, as such law now or hereafter exists; provided, however,
that when an administrative proceeding or action instituted by a federal banking agency results in a final order or settlement pursuant
to which such person: (i) is assessed a civil money penalty, (ii) is removed from office or prohibited from participating in the conduct
of the affairs of the association, or (iii) is required to cease and desist from or to take any affirmative action described in 12 U.S.C.
1818(b) with respect to the association, then the association shall require the repayment of all legal fees and expenses advanced pursuant
to the next succeeding paragraph and may not indemnify such institution-affiliated parties (or their heirs, executors or administrators)
for expenses, including expenses for legal fees, penalties or other payments incurred. The association shall provide indemnification in
connection with an action or proceeding (or part thereof) initiated by an institution-affiliated party (or by his or her heirs, executors
or administrators) only if such action or proceeding (or part thereof) was authorized by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 5.55pt 0 0">Expenses incurred by an institution-affiliated party (or
by his or her heirs, executors or administrators) in connection with any action or proceeding under 12 U.S.C. 164 or 1818 may be paid
by the association in advance of the final disposition of such action or proceeding upon (a) a determination by the Board of Directors
acting by a quorum consisting of directors who are not parties to such action or proceeding that the institution-affiliated party (or
his or her heirs, executors or administrators) has a reasonable basis for prevailing on the merits, (b) a determination that the indemnified
individual (or his or her heirs, executors or administrators) will have the financial capacity to reimburse the association in the event
he or she does not prevail, (c) a determination that the payment of expenses and fees by the association will not adversely affect the
safety and soundness of the association, and (d) receipt of an undertaking by</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 6.35pt 0 0">or on behalf of such institution-affiliated party (or by
his or her heirs, executors or administrators) to repay such advancement in the event of a final order or settlement pursuant to which
such person: (i) is assessed a civil money penalty, (ii) is removed from office or prohibited from participating in the conduct of the
affairs of the association, or (iii) is required to cease and desist from or to take any affirmative action described in 12 U.S.C. 1818(b)
with respect to the association. In all other instances, expenses incurred by an institution-affiliated party (or by his or her heirs,
executors or administrators) in connection with any action or proceeding as to which indemnification may be given under the Articles of
Association may be paid by the association in advance of the final disposition of such action or proceeding upon (a) receipt of an undertaking
by or on behalf of such institution-affiliated party (or by or on behalf of his or her heirs, executors or administrators) to repay such
advancement in the event that such institution- affiliated party (or his or her heirs, executors or administrators) is ultimately found
not to be entitled to indemnification as authorized by these Bylaws and (b) approval by the Board of Directors acting by a quorum consisting
of directors who are not parties to such action or proceeding or, if such a quorum is not obtainable, then approval by shareholders. To
the extent permitted by law, the Board of Directors or, if applicable, the shareholders, shall not be required to find that the institution-affiliated
party has met the applicable standard of conduct provided by law for indemnification in connection with such action or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 3.45pt 0 0">In the event that a majority of the members of the Board of
Directors are named as respondents in an administrative proceeding or civil action and request indemnification, the remaining members
of the Board may authorize independent legal counsel to review the indemnification request and provide the remaining members of the Board
with a written opinion of counsel as to whether the conditions delineated in the first four paragraphs of this Section 5 of Article VIII
have been met. If independent legal counsel opines that said conditions have been met, the remaining members of the Board of Directors
may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 8.45pt 0 0">In the event that all of the members of the Board of Directors
are named as respondents in an administrative proceeding or civil action and request indemnification, the Board shall authorize independent
legal counsel to review the indemnification request and provide the Board with a written opinion of counsel as to whether the conditions
delineated in the first four paragraphs of this Section 5 of Article VIII have been met. If legal counsel opines that said conditions
have been met, the Board of Directors may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 10.1pt 0 0">To the extent permitted under applicable law, the rights
of indemnification and to the advancement of expenses provided in the Articles of Association (a) shall be available with respect to events
occurring prior to the adoption of these Bylaws, (b) shall continue to exist after any restrictive amendment of these Bylaws with respect
to events occurring prior to such amendment, (c) may be interpreted on the basis of applicable law in effect at the time of the occurrence
of the event or events giving rise to the action or proceeding, or on the basis of applicable law in effect at the time such rights are
claimed, and (d) are in the nature of contract rights which may be enforced in any court of competent jurisdiction as if the association
and the institution-affiliated party (or his or her heirs, executors or administrators) for whom such rights are sought were parties to
a separate written agreement.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.75pt 5.45pt 0 0">The rights of indemnification and to the advancement of
expenses provided in these Bylaws shall not, to the extent permitted under applicable law, be deemed exclusive of any other rights to
which any such institution-affiliated party (or his or her heirs, executors or administrators) may now or hereafter be otherwise entitled
whether contained in the association&rsquo;s Articles of Association, these Bylaws, a resolution of shareholders, a resolution of the
Board of Directors, or an agreement providing such indemnification, the creation of such other rights being hereby expressly authorized.
Without limiting the generality of the foregoing, the rights of indemnification and to the advancement of expenses provided in these Bylaws
shall not be deemed exclusive of any rights, pursuant to statute or otherwise, of any such institution-affiliated party (or of his or
her heirs, executors or administrators) in any such action or proceeding to have assessed or allowed in his or her favor, against the
association or otherwise, his or her costs and expenses incurred therein or in connection therewith or any part thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If this Section 5 of Article VIII or any part hereof shall be held unenforceable
in any respect by a court of competent jurisdiction, it shall be deemed modified to the minimum extent necessary to make it enforceable,
and the remainder of this Section 5 of Article VIII shall remain fully enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0">The association may, upon affirmative vote of a majority of
its Board of Directors, purchase insurance to indemnify its institution-affiliated parties to the extent that such indemnification is
allowed in these Bylaws; provided, however, that no such insurance shall include coverage for a final order assessing civil money penalties
against such persons by a bank regulatory agency. Such insurance may, but need not, be for the benefit of all institution- affiliated
parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">IX</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Inspection and <FONT STYLE="letter-spacing: -0.1pt">Amendments</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 3.45pt 0 0"><B>Section 1. Inspection</B>. A copy of the bylaws of the
association, with all amendments, shall at all times be kept in a convenient place at the main office of the association, and shall be
open for inspection to all shareholders during banking hours.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><B>Section 2. Amendments</B>. The Board of Directors shall have
the power, at any regular or special meeting thereof, to amend, alter or repeal the bylaws of the association, or to make and adopt new
bylaws. These Bylaws may be amended, altered or repealed and new bylaws may be adopted by the shareholders of the association to the extent
and as permitted in the Articles of Association or applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT 6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;<B>Section 321(b) Consent</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to Section 321(b) of the Trust Indenture Act of 1939, as amended,
Wilmington Trust, National Association hereby consents that reports of examinations by Federal, State, Territorial or District authorities
may be furnished by such authorities to the Securities and Exchange Commission upon requests therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -30pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: -30pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 37%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:
    September 3, 2025</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;By:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>&nbsp;/s/
    Latoya S. Elvin&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Latoya S. Elvin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Vice President</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -3.5in">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><B>EXHIBIT 7</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><B>R E P O R T O F C O N D I T I O N</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">As of the close of business on June 30, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; font-family: Courier New, Courier, Monospace; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="text-align: left; padding-left: 5.4pt">ASSETS</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right"><B>Thousands
                                            of Dollars</B></TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left; padding-left: 5.4pt">Cash and balances due from depository institutions:</TD><TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 18%; text-align: right">612,124</TD><TD STYLE="vertical-align: bottom; width: 1%; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="padding-left: 5.4pt">Securities:</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">1,105</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Federal funds sold and securities purchased under agreement to resell:</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">0</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Loans and leases held for sale:</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">0</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Loans and leases net of unearned income, allowance:</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">29,511</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Premises and fixed asset</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">27,384</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Other real estate owned:</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">0</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Investments in unconsolidated subsidiaries and associated companies:</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">0</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Direct and indirect investments in real estate ventures:</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">0</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Intangible assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">0</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Other assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">64,391</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">Total Assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">734,515</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier New, Courier, Monospace; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="font-weight: bold; padding-left: 5.4pt">LIABILITIES</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Thousands of Dollars</B></FONT></TD><TD STYLE="vertical-align: bottom; font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt">Deposits</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">5,377</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Federal funds purchased and securities sold under agreements to repurchase</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">0</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Other borrowed money:</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">0</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Other Liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">95,434</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">Total Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">100,811</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier New, Courier, Monospace; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">EQUITY CAPITAL</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Thousands of Dollars</B></FONT></TD><TD STYLE="vertical-align: bottom; font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Common Stock</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">1,000</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="padding-left: 5.4pt">Surplus</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">356,855</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Retained Earnings</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">275,845</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Accumulated other comprehensive income</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">4</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">Total Equity Capital</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">633,704</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier New, Courier, Monospace; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">Total Liabilities and Equity Capital</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; text-align: right">734,515</TD><TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  </TABLE>


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<DOCUMENT>
<TYPE>EX-25.2
<SEQUENCE>5
<FILENAME>ex25-2.htm
<DESCRIPTION>EXHIBIT 25.2
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM T-1</B></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/11pt Courier; margin: 0; text-align: justify"><FONT STYLE="font-family: Wingdings"><B>o</B></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">Check
if an Application to Determine Eligibility of a Trustee Pursuant to Section 305(b)(2)</FONT></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of trustee as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>16-1486454</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(I.R.S. employer identification no.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1100 North Market Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Wilmington, DE 19890-0001</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Kyle Barry</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Senior Vice President</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Wilmington Trust Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>285 Delaware Ave.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Buffalo, NY 14202</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(716) 839-6909</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name, address and telephone number of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Customers Bancorp, Inc.</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of obligor as specified in its charter)</P>
    <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 54%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pennsylvania</B></FONT></TD>
    <TD STYLE="width: 46%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>27-2290659</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Courier New, Courier, Monospace; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction of incorporation or organization)</FONT></TD>
    <TD STYLE="font: 10pt Courier New, Courier, Monospace; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>701 Reading Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>West Reading, PA 19611</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices, including
zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Subordinated Debt Securities </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Title of the indenture securities)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>ITEM 1. GENERAL INFORMATION.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Furnish the following information as to the trustee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 30pt">(a)</TD><TD>Name and address of each examining or supervising authority to which it is subject.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 78pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 78pt">Comptroller of Currency, Washington, D.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 78pt">Federal Deposit Insurance Corporation, Washington, D.C.<BR>
<BR>
</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 30pt">(b)</TD><TD>Whether it is authorized to exercise corporate trust powers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-indent: -0.25in">The trustee is authorized to exercise
corporate trust powers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>ITEM 2.</B></TD><TD><B>AFFILIATIONS WITH THE OBLIGOR.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.75in">If the obligor is an affiliate of the trustee, describe
each affiliation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Based upon an examination of the books and records of the trustee
and information available to the trustee, the obligor is not an affiliate of the trustee.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>ITEM 3 &ndash; 15. </B>Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 48pt"><B>ITEM 16.</B></TD><TD><B>LIST OF EXHIBITS.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 84pt; text-indent: -48pt">Listed below are all exhibits filed as part
of this Statement of Eligibility and Qualification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>A copy of the Charter for Wilmington Trust, National Association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>The authority of Wilmington Trust, National Association to commence business was granted under the Charter for Wilmington Trust, National
Association, incorporated herein by reference to Exhibit 1 above.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">3.</TD><TD>The authorization to exercise corporate trust powers was granted under the Charter for Wilmington Trust, National Association, incorporated
herein by reference to Exhibit 1 above.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">4.</TD><TD>A copy of the existing By-Laws of Trustee, as now in effect, incorporated herein by reference to Exhibit 4of this Form T-1.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">5.</TD><TD>Not applicable.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">6.</TD><TD>The consent of Wilmington Trust, National Association as required by Section 321(b) of the Trust Indenture Act of 1939, attached hereto
as Exhibit 6 of this Form T-1.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">7.</TD><TD>Current Report of the Condition of Wilmington Trust, National Association, published pursuant to law or the requirements of its supervising
or examining authority, attached hereto as Exhibit 7 of this Form T-1.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">8.</TD><TD>Not applicable.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">9.</TD><TD>Not applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Trust Indenture Act of 1939, as amended,
the trustee, Wilmington Trust, National Association, a national banking association organized and existing under the laws of the United
States of America, has duly caused this Statement of Eligibility to be signed on its behalf by the undersigned, thereunto duly authorized,
all in the City of Iselin and State of New Jersey on the  3rd day of September, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in">By: <U>&nbsp;/s/ Latoya S. Elvin&nbsp;&#9;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 6in; text-indent: -3.5in">Name: Latoya S. Elvin</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 6in; text-indent: -3.5in">Title: Vice President</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHARTER OF WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ARTICLES OF ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For the purpose of organizing an association to perform
any lawful activities of national banks, the undersigned do enter into the following articles of association:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">FIRST.&#9;The title of this association shall be Wilmington Trust, National
Association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">SECOND.&#9;The main office of the association shall be in the City of Wilmington,
County of New Castle, State of Delaware. The general business of the association shall be conducted at its main office and its branches.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">THIRD.&#9;The board of directors of this association shall consist of not
less than five nor more than twenty-five persons, unless the OCC has exempted the bank from the 25-member limit. The exact number is to
be fixed and determined from time to time by resolution of a majority of the full board of directors or by resolution of a majority of
the shareholders at any annual or special meeting thereof. Each director shall own common or preferred stock of the association or of
a holding company owning the association, with an aggregate par, fair market or equity value $1,000. Determination of these values may
be based as of either (i) the date of purchase or (ii) the date the person became a director, whichever value is greater. Any combination
of common or preferred stock of the association or holding company may be used.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Any vacancy in the board of directors may be filled
by action of a majority of the remaining directors between meetings of shareholders. The board of directors may not increase the number
of directors between meetings of shareholders to a number which:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD>exceeds by more than two the number of directors last elected by shareholders where the number was 15 or less; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD>exceeds by more than four the number of directors last elected by shareholders where the number was 16 or more, but in no event shall
the number of directors exceed 25, unless the OCC has exempted the bank from the 25-member limit.</TD></TR></TABLE>

<P STYLE="font: 10pt/13.8pt Times New Roman, Times, Serif; margin: 0 0 13.6pt; text-indent: 0.25in">Directors shall be elected for terms
of one year and until their successors are elected and qualified. Terms of directors, including directors selected to fill vacancies,
shall expire at the next regular meeting of shareholders at which directors are elected, unless the directors resign or are removed from
office. Despite the expiration of a director's term, the director shall continue to serve until his or her successor is elected and qualifies
or until there is a decrease in the number of directors and his or her position is eliminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Honorary or advisory members of the board of directors,
without voting power or power of final decision in matters concerning the business of the association, may be appointed by resolution
of a majority of the full board of directors, or by resolution of shareholders at any annual or special meeting. Honorary or advisory
directors shall not be counted to determine the number of directors of the association or the presence of a quorum in connection with
any board action, and shall not be required to own qualifying shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">FOURTH.&#9;There shall be an annual meeting of the shareholders to elect
directors and transact whatever other business may be brought before the meeting. It shall be held at the main office or any other convenient
place the board of directors may designate, on the day of each year specified therefor in the bylaws, or, if that day falls on a legal
holiday in the state in which the association is located, on the next following banking day. If no election is held on the day fixed,
or in the event of a legal holiday on the following banking day, an election may be held on any subsequent day within 60 days of the day
fixed, to be designated by the board of directors, or, if the directors fail to fix the day, by shareholders representing two-thirds of
the shares issued and outstanding. In all cases at least 10 days advance notice of the time, place and purpose of a shareholders&rsquo;
meeting shall be given to the shareholders by first class mail, unless the OCC determines that an emergency circumstance exists. The sole
shareholder of the bank is permitted to waive notice of the shareholders&rsquo; meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In all elections of directors, the number of votes
each common shareholder may cast will be determined by multiplying the number of shares such shareholder owns by the number of directors
to be elected. Those votes may be cumulated and cast for a single candidate or may be distributed among two or more candidates in the
manner selected by the shareholder. If, after the first ballot, subsequent ballots are necessary to elect directors, a shareholder may
not vote shares that he or she has already fully cumulated and voted in favor of a successful candidate. On all other questions, each
common shareholder shall be entitled to one vote for each share of stock held by him or her.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Nominations for election to the board of directors
may be made by the board of directors or by any stockholder of any outstanding class of capital stock of the association entitled to vote
for election of directors. Nominations other than those made by or on behalf of the existing management shall be made in writing and be
delivered or mailed to the president of the association not less than 14 days nor more than 50 days prior to any meeting of shareholders
called for the election of directors; provided, however, that if less than 21 days notice of the meeting is given to shareholders, such
nominations shall be mailed or delivered to the president of the association not later than the close of business on the seventh day following
the day on which the notice of meeting was mailed. Such notification shall contain the following information to the extent known to the
notifying shareholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD>The name and address of each proposed nominee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD>The principal occupation of each proposed nominee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3)</TD><TD>The total number of shares of capital stock of the association that will be voted for each proposed nominee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4)</TD><TD>The name and residence address of the notifying shareholder.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5)</TD><TD>The number of shares of capital stock of the association owned by the notifying shareholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.25in">Nominations not made in accordance herewith
may, in his/her discretion, be disregarded by the chairperson of the meeting, and the vote tellers may disregard all votes cast for each
such nominee. No bylaw may unreasonably restrict the nomination of directors by shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.5in">A director may resign at any time by delivering
written notice to the board of directors, its chairperson, or to the association, which resignation shall be effective when the notice
is delivered unless the notice specifies a later effective date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.5in">A director may be removed by shareholders
at a meeting called to remove the director, when notice of the meeting stating that the purpose or one of the purposes is to remove the
director is provided, if there is a failure to fulfill one of the affirmative requirements for qualification, or for cause; provided,
however, that a director may not be removed if the number of votes sufficient to elect the director under cumulative voting is voted against
the director's removal.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">FIFTH.&#9;The authorized amount of capital stock of this association shall
be ten thousand shares of common stock of the par value of one hundred dollars ($100) each; but said capital stock may be increased or
decreased from time to time, according to the provisions of the laws of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">No holder of shares of the capital stock of any class
of the association shall have any preemptive or preferential right of subscription to any shares of any class of stock of the association,
whether now or hereafter authorized, or to any obligations convertible into stock of the association, issued, or sold, nor any right of
subscription to any thereof other than such, if any, as the board of directors, in its discretion, may from time to time determine and
at such price as the board of directors may from time to time fix. Preemptive rights also must be approved by a vote of holders of two-thirds
of the bank&rsquo;s outstanding voting shares. Unless otherwise specified in these articles of association or required by law, (1) all
matters requiring shareholder action, including amendments to the articles of association, must be approved by shareholders owning a majority
voting interest in the outstanding voting stock, and (2) each shareholder shall be entitled to one vote per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unless otherwise specified in these articles of association
or required by law, all shares of voting stock shall be voted together as a class, on any matters requiring shareholder approval. If a
proposed amendment would affect two or more classes or series in the same or a substantially similar way, all the classes or series so
affected must vote together as a single voting group on the proposed amendment.</P>

<P STYLE="font: 10pt Courier; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Shares of one class or series may be issued as a dividend
for shares of the same class or series on a pro rata basis and without consideration. Shares of one class or series may be issued as share
dividends for a different class or series of stock if approved by a majority of the votes entitled to be cast by the class or series to
be issued, unless there are no outstanding shares of the class or series to be issued. Unless otherwise provided by the board of directors,
the record date for determining shareholders entitled to a share dividend shall be the date authorized by the board of directors for the
share dividend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-indent: 0.5in">&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-indent: 0.5in">Unless otherwise provided in the bylaws,
the record date for determining shareholders entitled to notice of and to vote at any meeting is the close of business on the day before
the first notice is mailed or otherwise sent to the shareholders, provided that in no event may a record date be more than 70 days before
the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If a shareholder is entitled to fractional shares pursuant
to a stock dividend, consolidation or merger, reverse stock split or otherwise, the association may: (a) issue fractional shares; (b)
in lieu of the issuance of fractional shares, issue script or warrants entitling the holder to receive a full share upon surrendering
enough script or warrants to equal a full share; (c) if there is an established and active market in the association's stock, make reasonable
arrangements to provide the shareholder with an opportunity to realize a fair price through sale of the fraction, or purchase of the additional
fraction required for a full share; (d) remit the cash equivalent of the fraction to the shareholder; or (e) sell full shares representing
all the fractions at public auction or to the highest bidder after having solicited and received sealed bids from at least three licensed
stock brokers; and distribute the proceeds pro rata to shareholders who otherwise would be entitled to the fractional shares. The holder
of a fractional share is entitled to exercise the rights for shareholder, including the right to vote, to receive dividends, and to participate
in the assets of the association upon liquidation, in proportion to the fractional interest. The holder of script or warrants is not entitled
to any of these rights unless the script or warrants explicitly provide for such rights. The script or warrants may be subject to such
additional conditions as: (1) that the script or warrants will become void if not exchanged for full shares before a specified date; and
(2) that the shares for which the script or warrants are exchangeable may be sold at the option of the association and the proceeds paid
to scriptholders.</P>

<P STYLE="font: 10pt Courier; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 8.25pt 0 0; text-indent: 0.5in">The association, at any time and from time
to time, may authorize and issue debt obligations, whether or not subordinated, without the approval of the shareholders. Obligations
classified as debt, whether or not subordinated, which may be issued by the association without the approval of shareholders, do not carry
voting rights on any issue, including an increase or decrease in the aggregate number of the securities, or the exchange or reclassification
of all or part of securities into securities of another class or series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 8.25pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 8.25pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Courier; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">SIXTH.&#9;The board of directors shall appoint one of its members president
of this association, and one of its members chairperson of the board and shall have the power to appoint one or more vice presidents,
a secretary who shall keep minutes of the directors' and shareholders' meetings and be responsible for authenticating the records of the
association, and such other officers and employees as may be required to transact the business of this association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A duly appointed officer may appoint one or more officers
or assistant officers if authorized by the board of directors in accordance with the bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The board of directors shall have the power to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD>Define the duties of the officers, employees, and agents of the association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD>Delegate the performance of its duties, but not the responsibility for its duties, to the officers, employees, and agents of the association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3)</TD><TD>Fix the compensation and enter into employment contracts with its officers and employees upon reasonable terms and conditions consistent
with applicable law.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4)</TD><TD>Dismiss officers and employees.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5)</TD><TD>Require bonds from officers and employees and to fix the penalty thereof.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6)</TD><TD>Ratify written policies authorized by the association's management or committees of the board.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7)</TD><TD>Regulate the manner in which any increase or decrease of the capital of the association shall be made, provided that nothing herein
shall restrict the power of shareholders to increase or decrease the capital of the association in accordance with law, and nothing shall
raise or lower from two-thirds the percentage required for shareholder approval to increase or reduce the capital.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">8)</TD><TD>Manage and administer the business and affairs of the association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">9)</TD><TD>Adopt initial bylaws, not inconsistent with law or the articles of association, for managing the business and regulating the affairs
of the association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">10)</TD><TD>Amend or repeal bylaws, except to the extent that the articles of association reserve this power in whole or in part to shareholders.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">11)</TD><TD>Make contracts.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">12)</TD><TD>Generally perform all acts that are legal for a board of directors to perform.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">SEVENTH.&#9;The board of directors shall have the power to change the location
of the main office to any other place within the limits of Wilmington, Delaware, without the approval of the shareholders, or with a vote
of shareholders owning two-thirds of the stock of such association for a relocation outside such limits and upon receipt of a certificate
of approval from the Comptroller of the Currency, to any other location within or outside the limits of Wilmington Delaware, but not more
than 30 miles beyond such limits. The board of directors shall have the power to establish or change the location of any branch or branches
of the association to any other location permitted under applicable law, without approval of shareholders, subject to approval by the
Comptroller of the Currency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">EIGHTH.&#9;The corporate existence of this association shall continue until
termination according to the laws of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">NINTH.&#9;The board of directors of this association, or any one or more
shareholders owning, in the aggregate, not less than 50 percent of the stock of this association, may call a special meeting of shareholders
at any time. Unless otherwise provided by the bylaws or the laws of the United States, a notice of the time, place, and purpose of every
annual and special meeting of the shareholders shall be given at least 10 days prior to the meeting by first-class mail, unless the OCC
determines that an emergency circumstance exists. If the association is a wholly-owned subsidiary, the sole shareholder may waive notice
of the shareholders&rsquo; meeting. Unless otherwise provided by the bylaws or these articles, any action requiring approval of shareholders
must be effected at a duly called annual or special meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">TENTH.&#9;For purposes of this Article Tenth, the term &ldquo;institution-affiliated
party&rdquo; shall mean any institution-affiliated party of the association as such term is defined in 12 U.S.C. 1813(u).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any institution-affiliated party (or his or her heirs,
executors or administrators) may be indemnified or reimbursed by the association for reasonable expenses actually incurred in connection
with any threatened, pending or completed actions or proceedings and appeals therein, whether civil, criminal, governmental, administrative
or investigative, in accordance with and to the fullest extent permitted by law, as such law now or hereafter exists; provided, however,
that when an administrative proceeding or action instituted by a federal banking agency results in a final order or settlement pursuant
to which such person: (i) is assessed a civil money penalty, (ii) is removed from office or prohibited from participating in the conduct
of the affairs of the association, or (iii) is required to cease and desist from or to take any affirmative action described in 12 U.S.C.
1818(b) with respect to the association, then the association shall require the repayment of all legal fees and expenses advanced pursuant
to the next succeeding paragraph and may not indemnify such institution-affiliated parties (or their heirs, executors or administrators)
for expenses, including expenses for legal fees, penalties or other payments incurred. The association shall provide indemnification in
connection with an action or proceeding (or part thereof) initiated by an institution-affiliated party (or by his or her heirs, executors
or administrators) only if such action or proceeding (or part thereof) was authorized by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Expenses incurred by an institution-affiliated party
(or by his or her heirs, executors or administrators) in connection with any action or proceeding under 12 U.S.C. 164 or 1818 may be paid
by the association in advance of the final disposition of such action or proceeding upon (a) a determination by the board of directors
acting by a quorum consisting of directors who are not parties to such action or proceeding that the institution-affiliated party (or
his or her heirs, executors or administrators) has a reasonable basis for prevailing on the merits, (b) a determination that the indemnified
individual (or his or her heirs, executors or administrators) will have the financial capacity to reimburse the bank in the event he or
she does not prevail, (c) a determination that the payment of expenses and fees by the association will not adversely affect the safety
and soundness of the association, and (d) receipt of an undertaking by or on behalf of such institution-affiliated party (or by his or
her heirs, executors or administrators) to repay such advancement in the event of a final order or settlement pursuant to which such person:
(i) is assessed a civil money penalty, (ii) is removed from office or prohibited from participating in the conduct of the affairs of the
association, or (iii) is required to cease and desist from or to take any affirmative action described in 12 U.S.C. 1818(b) with respect
to the association. In all other instances, expenses incurred by an institution-affiliated party (or by his or her heirs, executors or
administrators) in connection with any action or proceeding as to which indemnification may be given under these articles of association
may be paid by the association in advance of the final disposition of such action or proceeding upon (a) receipt of an undertaking by
or on behalf of such institution-affiliated party (or by or on behalf of his or her heirs, executors or administrators) to repay such
advancement in the event that such institution-affiliated party (or his or her heirs, executors or administrators) is ultimately found
not to be entitled to indemnification as authorized by these articles of association and (b) approval by the board of directors acting
by a quorum consisting of directors who are not parties to such action or proceeding or, if such a quorum is not obtainable, then approval
by stockholders. To the extent permitted by law, the board of directors or, if applicable, the stockholders, shall not be required to
find that the institution-affiliated party has met the applicable standard of conduct provided by law for indemnification in connection
with such action or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Courier; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event that a majority of the members of the
board of directors are named as respondents in an administrative proceeding or civil action and request indemnification, the remaining
members of the board may authorize independent legal counsel to review the indemnification request and provide the remaining members of
the board with a written opinion of counsel as to whether the conditions delineated in the first four paragraphs of this Article Tenth
have been met. If independent legal counsel opines that said conditions have been met, the remaining members of the board of directors
may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event that all of the members of the board of
directors are named as respondents in an administrative proceeding or civil action and request indemnification, the board shall authorize
independent legal counsel to review the indemnification request and provide the board with a written opinion of counsel as to whether
the conditions delineated in the first four paragraphs of this Article Tenth have been met. If legal counsel opines that said conditions
have been met, the board of directors may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">To the extent permitted under applicable law, the rights
of indemnification and to the advancement of expenses provided in these articles of association (a) shall be available with respect to
events occurring prior to the adoption of these articles of association, (b) shall continue to exist after any restrictive amendment of
these articles of association with respect to events occurring prior to such amendment, (c) may be interpreted on the basis of applicable
law in effect at the time of the occurrence of the event or events giving rise to the action or proceeding, or on the basis of applicable
law in effect at the time such rights are claimed, and (d) are in the nature of contract rights which may be enforced in any court of
competent jurisdiction as if the association and the institution-affiliated party (or his or her heirs, executors or administrators) for
whom such rights are sought were parties to a separate written agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The rights of indemnification and to the advancement
of expenses provided in these articles of association shall not, to the extent permitted under applicable law, be deemed exclusive of
any other rights to which any such institution affiliated party (or his or her heirs, executors or administrators) may now or hereafter
be otherwise entitled whether contained in these articles of association, the bylaws, a resolution of stockholders, a resolution of the
board of directors, or an agreement providing such indemnification, the creation of such other rights being hereby expressly authorized.
Without limiting the generality of the foregoing, the rights of indemnification and to the advancement of expenses provided in these articles
of association shall not be deemed exclusive of any rights, pursuant to statute or otherwise, of any such institution-affiliated party
(or of his or her heirs, executors or administrators) in any such action or proceeding to have assessed or allowed in his or her favor,
against the association or otherwise, his or her costs and expenses incurred therein or in connection therewith or any part thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-indent: 0.5in">If this Article Tenth or any part hereof
shall be held unenforceable in any respect by a court of competent jurisdiction, it shall be deemed modified to the minimum extent necessary
to make it enforceable, and the remainder of this Article Tenth shall remain fully enforceable.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The association may, upon affirmative vote of a majority
of its board of directors, purchase insurance to indemnify its institution-affiliated parties to the extent that such indemnification
is allowed in these articles of association; provided, however, that no such insurance shall include coverage to pay or reimburse any
institution-affiliated party for the cost of any judgment or civil money penalty assessed against such person in an administrative proceeding
or civil action commenced by any federal banking agency. Such insurance may, but need not, be for the benefit of all institution-affiliated
parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">ELEVENTH.&#9;These articles of association may be amended at any regular
or special meeting of the shareholders by the affirmative vote of the holders of a majority of the stock of this association, unless the
vote of the holders of a greater amount of stock is required by law, and in that case by the vote of the holders of such greater amount.
The association's board of directors may propose one or more amendments to the articles of association for submission to the shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT 4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#9;<B>BY-LAWS OF WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.4pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Courier; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AMENDED AND RESTATED BYLAWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Effective as of March 7, 2024)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">AMENDED AND RESTATED
BYLAWS <FONT STYLE="letter-spacing: -0.3pt">OF</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">WILMINGTON TRUST, NATIONAL
<FONT STYLE="letter-spacing: -0.1pt">ASSOCIATION</FONT></P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.5pt">I</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Meetings of <FONT STYLE="letter-spacing: -0.1pt">Shareholders</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 7.95pt 0 0"><B>Section 1. Annual Meeting</B>. The annual meeting of
shareholders shall be held on such date and at such time as may be designated by the chair of the Board of Directors, the chief executive
officer, the president, the chief operating officer, the secretary, or the Board of Directors for the purpose of the election of directors
and for the transaction of such other business as may properly come before the meeting, except such date shall not be a legal holiday
in Delaware. Notice of the meeting shall be mailed by first class mail, postage prepaid, at least 10 days and no more than 60 days prior
to the date thereof, addressed to each shareholder at his or her address appearing on the books of the association. If, for any cause,
an election of directors is not made on that date, an election may be held on any subsequent day within 60 days of the date fixed, to
be designated by the Board of Directors, or, if the directors fail to fix the date, by shareholders representing two-thirds of the shares.
In these circumstances, at least 10 days&rsquo; notice must be given by first class mail to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 2. Special Meetings</B>. The chair of the Board of
Directors, the president, the chief executive officer, the secretary, or the Board of Directors may call a special meeting of the shareholders.
A special meeting shall be called to act on any matter that may properly be considered at a meeting of shareholders upon the written request
of shareholders entitled to cast not less than a majority of all the votes entitled to be cast on such matter at the meeting. Every such
special meeting, unless otherwise provided by law, shall be called by mailing, postage prepaid, not less than 10 days nor more than 60
days prior to the date fixed for the meeting, to each shareholder at the address appearing on the books of the association a notice stating
the purpose of the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Board of Directors may fix a record date for determining shareholders
entitled to notice and to vote at any meeting, in reasonable proximity to the date of giving notice to the shareholders of such meeting.
The record date for determining shareholders entitled to demand a special meeting is the date the first shareholder signs a demand for
the meeting describing the purpose or purposes for which it is to be held.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.25pt 0 0"><B>Section 3. Adjournment</B>. If an annual or special shareholders'
meeting is adjourned to a different date, time, or place, notice need not be given of the new date, time or place, if the new date, time
or place is announced at the meeting before adjournment, unless any additional items of business are to be considered, or the association
becomes aware of an intervening event materially affecting any matter to be voted on more than 10 days prior to the date to which the
meeting is adjourned. If a new record date for the adjourned meeting is fixed, however, notice of the adjourned meeting must be given
to persons who are shareholders as of the new record date. If, however, the meeting to elect the directors is adjourned before the election
takes place, at least ten days&rsquo; notice of the new election must be given to the shareholders by first-class mail.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.75pt 7.95pt 0 0"><B>Section 4. Nominations of Directors</B>. Nominations
for election to the Board of Directors may be made by the Board of Directors or by any shareholder of any outstanding class of capital
stock of the association entitled to vote for the election of directors. Nominations, other than those made by or on behalf of the existing
management of the association, shall be made in writing and shall be delivered or mailed to the president of the association, not less
than 14 days nor more than 50 days prior to any meeting of shareholders called for the election of directors; <I>provided, however, </I>that
if less than 21 days' notice of the meeting is given to shareholders, such nomination shall be mailed or delivered to the president of
the association not later than the close of business on the seventh day following the day on which the notice of meeting was mailed. Such
notification shall contain the following information to the extent known to the notifying shareholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 35.95pt"><FONT STYLE="letter-spacing: -0.05pt">(1)</FONT></TD><TD>The name and address of each proposed <FONT STYLE="letter-spacing: -0.1pt">nominee;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 35.95pt"><FONT STYLE="letter-spacing: -0.05pt">(2)</FONT></TD><TD>The principal occupation of each proposed <FONT STYLE="letter-spacing: -0.1pt">nominee;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="letter-spacing: -0.05pt">(3)</FONT></TD><TD STYLE="padding-right: 5.3pt">The total number of shares of capital stock of the association that will be voted for each proposed nominee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 35.95pt"><FONT STYLE="letter-spacing: -0.05pt">(4)</FONT></TD><TD>The name and residence of the notifying shareholder; <FONT STYLE="letter-spacing: -0.25pt">and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="letter-spacing: -0.05pt">(5)</FONT></TD><TD STYLE="padding-right: 18.55pt">The number of shares of capital stock of the association owned by the notifying <FONT STYLE="letter-spacing: -0.1pt">shareholder</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0">Nominations not made in accordance herewith may, in his/her
discretion, be disregarded by the chair of the meeting, and upon his/her instructions, all votes cast for each such nominee may be disregarded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.05pt 0 0"><B>Section 5. Proxies</B>. Shareholders may vote at any meeting
of the shareholders by proxies duly authorized in writing, but no officer or employee of this association shall act as proxy. A director
or an attorney of the association may act as proxy for shareholders voting if they are not also employed as an officer of the association.
Proxies shall be valid only for one meeting, to be specified therein, and any adjournments of such meeting. Proxies shall be dated and
filed with the records of the meeting. Proxies with facsimile signatures may be used and unexecuted proxies may be counted upon receipt
of a written confirmation from the shareholder. Proxies meeting the above requirements submitted at any time during a meeting shall be
<FONT STYLE="letter-spacing: -0.1pt">accepted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.4pt 0 0"><B>Section 6. Quorum</B>. A majority of the outstanding capital
stock, represented in person or by proxy, shall constitute a quorum at any meeting of shareholders, unless otherwise provided by law,
but less than a quorum may adjourn any meeting, from time to time, and the meeting may be held, as adjourned, without further notice.
A majority of the votes cast shall decide every question or matter submitted to the shareholders at any meeting, unless otherwise provided
by law or by the articles of association. If a meeting for the election of directors is not held on the fixed date, at least 10 days&rsquo;
notice must be given by first-class mail to the shareholders.</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">II</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><U>Directors</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0"><B>Section 1. Board of Directors</B>. The Board of Directors shall
have the power to manage and administer the business and affairs of the association. Except as expressly limited by law, all corporate
powers of the association shall be vested in and may be exercised by the Board of <FONT STYLE="letter-spacing: -0.1pt">Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.25pt 0 0"><B>Section 2. Number</B>. The Board of Directors shall consist
of not less than five nor more than twenty-five members, unless the OCC has exempted the association from the 25-member limit. The exact
number within such minimum and maximum limits is to be fixed and determined from time to time by resolution of a majority of the full
Board of Directors or by resolution of a majority of the shareholders at any meeting thereof. The Board of Directors may not increase
the number of directors between meetings of shareholders to a number which: (a) exceeds by more than 2 the number of directors last elected
by shareholders where the number was 15 or less; or (b) exceeds by more than 4 the number of directors last elected by shareholders where
the number was 16 or more, but in no event shall the number of directors exceed 25, unless the OCC has exempted the association from the
25-member limit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Section 3. Qualifications.</B> Each director must be a citizen of the
United States and must own in his or her own right either shares of the capital stock of the association or a company that controls the
association that has not less than an aggregate par value of $1,000, an aggregate shareholders&rsquo; equity of $1,000, or an aggregate
fair market value of $1,000. The value of the common or preferred stock held by a director is valued as of the date purchased or the date
on which the individual became a director, whichever is greater.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.25pt 0 0"><B>Section 4. Organization Meeting</B>.&#9;After each annual
meeting of shareholders at which directors shall have been elected, the Board of Directors shall meet as soon as practicable for the purpose
of organization and the transaction of other business. Such first regular meeting shall be held at any place as may be designated by the
chair, the president or the Board of Directors for such first regular meeting or, in default of such designation, where the immediately
preceding meeting of shareholders was held.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 7.05pt 0 0; text-align: justify"><B>Section 5. Regular Meetings</B>.
Regular meetings of the Board of Directors shall be held on such dates and at such places as may be designated from time to time by the
chair. No notice of regular meetings shall be necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.55pt 0 0"><B>Section 6. Special Meetings</B>. Special meetings of the
Board of Directors may be called at any time by the chair, the chief executive officer, the president or by a majority of the then- acting
directors by vote at a meeting or in writing, or by a majority of the members of the executive committee, if one is constituted, by vote
at a meeting or in writing. A special meeting of the Board of Directors shall be held on such date and at any place as may be designated
from time to time by the Board of Directors. In the absence of such designation, such meeting shall be held at such place as may be designated
in the call. Each member of the Board of Directors shall be given notice stating the date, time and place, by letter, electronic delivery
or in person, of <FONT STYLE="letter-spacing: -0.2pt">each</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 21.95pt 0 0">special meeting not less than one day before the meeting.
Such notice need not specify the purpose for which the meeting is called, unless required by the Articles of Association or the <FONT STYLE="letter-spacing: -0.1pt">bylaws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.8pt 0 0"><B>Section 7. Quorum</B>. A majority of the entire Board then
in office shall constitute a quorum at any meeting, except when otherwise provided by law or these Bylaws, but a lesser number may adjourn
any meeting, from time to time, and the meeting may be held, as adjourned, without further notice. If the number of directors present
at the meeting is reduced below the number that would constitute a quorum, no business may be transacted, except selecting directors to
fill vacancies in conformance with Article II, Section 11. If a quorum is present, the board of directors may take action through the
vote of a majority of the directors who are in attendance. No director may vote by proxy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 3.45pt 0 0"><B>Section 8. Attendance by Electronic, Telephonic or Similar
Means.</B> Any one or more members of the Board of Directors or any committee thereof may participate in a regular or special meeting
of such board or committee by, or conduct the meeting through the use of, <FONT STYLE="color: #333333">conference telephone or other communications
equipment </FONT>by which all directors or committee members participating may simultaneously hear each other during the meeting. Participation
in a meeting by these means constitutes presence in person at a meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 21.95pt 0 0"><B>Section 9. Procedures</B>. The order of business and all
other matters of procedure at every meeting of the Board of Directors may be determined by the person presiding at the <FONT STYLE="letter-spacing: -0.1pt">meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 10. Removal of Directors</B>. Any director may be
removed for cause at any meeting of shareholders, notice of which shall have referred to the proposed action, by vote of the shareholders.
Any director may be removed without cause at any meeting of shareholders, notice of which shall have referred to the proposed action,
by the vote of the holders of a majority of the shares of the association entitled to vote. Any director may be removed for cause at any
meeting of the directors, notice of which shall have referred to the proposed action, by vote of a majority of the entire Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 6.25pt 0 0"><B>Section 11. Vacancies</B>. When any vacancy occurs among
the directors, a majority of the remaining members of the Board of Directors may appoint a director to fill such vacancy until the next
election at any regular meeting of the Board of Directors, or at a special meeting called for that purpose at which a quorum is present,
or if the directors remaining in office constitute fewer than a quorum of the Board of Directors, by the affirmative vote of a majority
of all the directors remaining in office, or by shareholders at a special meeting called for that purpose in conformance with Section
2 of Article I. A vacancy that will occur at a specific later date (by reason of a resignation effective at a later date) may be filled
before the vacancy occurs but the new director may not take office until the vacancy occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.25pt 0 0"><B>Section 12. Consent of Directors without a Meeting</B>. Any
action required or permitted to be taken at any meeting of the Board of Directors may be taken without a meeting if the action is taken
by all members of the Board. The action may be evidenced by one or more written consents signed by each director before or after such
action, describing the action taken, and</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 0 0">included in the minutes or filed with the corporate records. A
director&rsquo;s consent to action taken without a meeting may be in electronic form and delivered by electronic means.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.45pt 0 0"><B>Section 13. Ratification</B>. The board of directors may
ratify and make binding on the association any action or inaction by the association or its officers to the extent that the Board of Directors
or the shareholders could have originally authorized the matter and as permitted by law. Moreover, any action or inaction questioned in
any shareholders&rsquo; derivative proceeding or any other proceeding on the ground of lack of authority, defective or irregular execution,
adverse interest of a director, officer or shareholder, non-disclosure, miscomputation, the application of improper principles or practices
of accounting or otherwise, may be ratified, before or after judgment, by the Board of Directors or by the shareholders, and if so ratified,
shall have the same force and effect as if the questioned action or inaction had been originally duly authorized, and such ratification
shall be binding upon the shareholders and shall constitute a bar to any claim or execution of any judgment in respect of such questioned
action or inaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">III</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><U>Committees</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 7.95pt 0 0"><B>Section 1. Executive Committee</B>. The Board of Directors
may appoint an Executive Committee, which shall have and may exercise, during the intervals between meetings of the Board of Directors,
all the powers of the Board of Directors in the management of the business, properties and affairs of the association except as prohibited
by law, the Articles of Association or these Bylaws. All acts done and powers conferred by the Executive Committee shall be deemed to
be and may be certified as being, done or conferred under authority of the Board of <FONT STYLE="letter-spacing: -0.1pt">Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 2. Trust Audit Committee.</B> Unless delegated pursuant
to Section 5 of this Article III, there shall be a Trust Audit Committee composed of not less than 2 directors, appointed by the Board
of Directors, which shall, at least once during each calendar year make suitable audits of the association&rsquo;s fiduciary activities
or cause suitable audits to be made by auditors responsible only to the Board, and at such time shall ascertain whether fiduciary powers
have been administered according to law, Part 9 of the Regulations of the Comptroller of the Currency, and sound fiduciary principles.
Such committee: (1) must not include any officers of the association or an affiliate who participate significantly in the administration
of the association&rsquo;s fiduciary activities; and (2) must consist of a majority of members who are not also members of any committee
to which the Board of Directors has delegated power to manage and control the fiduciary activities of the bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 3. Examining Committee</B>. Unless delegated pursuant
to Section 5 of this Article III, there shall be an examining committee composed of not less than 2 directors, exclusive of any active
officers, appointed by the board of directors annually or more often. The duty of that committee shall be to examine at least once during
each calendar year and within 15 months of the last examination the affairs of the association or cause suitable examinations to be made
by auditors responsible only to the board of directors and to report the result of such examination in writing to the board of directors
at the next regular meeting thereafter. Such</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 0 0">report shall state whether the association is in a sound condition,
and whether adequate internal controls and procedures are being maintained and shall recommend to the board of directors such changes
in the manner of conducting the affairs of the association as shall be deemed advisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.05pt 0 0"><B>Section 4. Other Committees</B>. The Board of Directors may
from time to time by resolution adopted by affirmative vote of a majority of the Board of Directors, appoint other committees of the Board
of Directors which shall have such powers and duties as the Board of Directors may properly determine. No such other committee of the
Board of Directors shall be composed of fewer than three (3) directors. The Board of Directors may also appoint one or more directors
as alternative members of a committee. All acts done and powers conferred by the Board of Directors on committees of the Board of Directors
shall be deemed to be and may be certified as being, done or conferred under that authority of the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 5. Delegation of Responsibility and Authority</B>.
The responsibility, authority and constitution of any committee under this Article III may, if authorized by law, be given over to a duly
constituted committee of the association&rsquo;s parent corporation by resolution adopted by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">IV</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Officers and <FONT STYLE="letter-spacing: -0.1pt">Employees</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 6.25pt 0 0"><B>Section 1 Officers.</B> The Board of Directors shall
annually, at the Annual Reorganization Meeting of the Board of Directors following the annual meeting of shareholders, appoint or elect
a chair of the Board, a chief executive officer, a president, one (1) or more senior executive vice presidents, a corporate secretary,
a treasurer, a chief auditor, and such other officers as it may determine, each to hold office until the next Annual Reorganization meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0">The officers below the level of senior executive vice president
may be elected as follows: the head of the Human Resources Department of M&amp;T Bank, or his or her designee, may appoint officers up
to and including (without limitation as to title or number) one (1) or more executive vice presidents, senior vice presidents, vice presidents,
assistant vice presidents, assistant secretaries, assistant treasurers, and assistant auditors, and any other officer positions as they
deem necessary and appropriate, except the chair of the board, chief executive officer, president, any &ldquo;Executive Officer&rdquo;
of the association for the purposes of Regulation O (codified at 12</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">C.F.R. &sect;215.2(e)(1)), and any &ldquo;Senior Executive Officer&rdquo;
within the meaning of 12 <FONT STYLE="letter-spacing: -0.1pt">C.F.R.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&sect;5.51(c)(4) may only be appointed by the Board of <FONT STYLE="letter-spacing: -0.1pt">Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 2. Chair of the Board</B>. The Board of Directors
shall appoint one of its members to be the chair of the Board to serve at its pleasure. Such person shall preside at all meetings of the
Board of Directors. The chair of the Board shall supervise the carrying out of the policies adopted or approved by the Board of Directors;
shall have general executive powers, as well as the specific powers conferred by these Bylaws; and shall also have and may exercise such
further powers and duties as from time to time may be conferred upon or assigned by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Section 3. President</B>. The Board of Directors shall appoint one of
its members to be the president of the association. The president shall be a member of the Board of Directors. In the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 6.25pt 0 0">absence of the chair, the president shall preside at any
meeting of the Board of Directors. The president shall have general executive powers and shall have and may exercise any and all other
powers and duties pertaining by law, regulation, or practice to the office of president, or imposed by these Bylaws. The president shall
also have and may exercise such further powers and duties as from time to time may be conferred or assigned by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 21.95pt 0 0"><B>Section 4. Vice President</B>. The Board of Directors may
appoint one or more vice presidents. Each vice president shall have such powers and duties as may be assigned by the Board of Directors.
One vice president shall be designated by the Board of Directors, in the absence of the president, to perform all the duties of the president.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 5. Secretary</B>. The Board of Directors shall appoint
a secretary or other designated officer who shall be secretary of the Board of Directors and of the association and who shall keep accurate
minutes of all meetings. The secretary shall attend to the giving of all notices required by these Bylaws; shall be custodian of the corporate
seal, records, documents and papers of the association; shall provide for the keeping of proper records of all transactions of the association;
shall have and may exercise any and all other powers and duties pertaining by law, regulation or practice, or imposed by these bylaws;
and shall also perform such other duties as may be assigned from time to time, by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.55pt 0 0"><B>Section 6. Other Officers</B>. The Board of Directors may
appoint one or more assistant vice presidents, one or more trust officers, one or more officers, one or more assistant secretaries, one
or more assistant treasurers, one or more managers and assistant managers of branches and such other officers and attorneys in fact as
from time to time may appear to the Board of Directors to be required or desirable to transact the business of the association. Such officers
shall respectively exercise such powers and perform such duties as pertain to their several offices, or as may be conferred upon or assigned
to them by the Board of Directors, the chair of the Board, or the president. The Board of Directors may authorize an officer to appoint
one or more officers or assistant officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><B>Section 7. Resignation</B>. An officer may resign at any time
by delivering notice to the association. A resignation is effective when the notice is given unless the notice specifies a later effective
date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.5pt">V</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Stock and Stock <FONT STYLE="letter-spacing: -0.1pt">Certificates</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 7.65pt 0 0"><B>Section 1. Transfers</B>. Shares of stock shall be transferable
on the books of the association, and a transfer book shall be kept in which all transfers of stock shall be recorded. Every person becoming
a shareholder by such transfer shall in proportion to such shareholder's shares, succeed to all rights of the prior holder of such shares.
The Board of Directors may impose conditions upon the transfer of the stock reasonably calculated to simplify the work of the association
with respect to stock transfers, voting at shareholder meetings and related matters and to protect it against fraudulent transfers.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 7.95pt 0 0"><B>Section 2. Stock Certificates</B>. Certificates of stock
shall bear the signature of the president (which may be engraved, printed or impressed) and shall be signed manually, by facsimile process,
or electronic means by the secretary, assistant secretary, treasurer, assistant treasurer, or any other officer appointed by the Board
of Directors for that purpose, to be known as an authorized officer, and the seal of the association shall be engraved thereon. Each certificate
shall recite on its face that the stock represented thereby is transferable only upon the books of the association properly endorsed and
otherwise comply with the requirements of 12</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">U.S.C. 52 and 12 C.F.R. <FONT STYLE="letter-spacing: -0.1pt">&sect;7.2016(b).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.25pt 0 0"><B>Section 3. Lost, Stolen or Destroyed Certificates</B>. In
case any certificate representing shares shall be lost, stolen or destroyed, the Board of Directors, in its discretion, or any officer
or officers thereunder duly authorized by the Board of Directors, may authorize the issue of a substitute certificate or substitute shares
in uncertificated form in the place of the certificate so lost, stolen or destroyed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 0"><B>Section 4. Fixing of Record Date</B>. The Board of Directors
may set, in advance, a record date for the purpose of determining shareholders entitled to notice of or to vote at any meeting of shareholders
or determining shareholders entitled to receive payment of any dividend or the allotment of any other rights, in order to make a determination
of shareholders for any other proper purpose. Such date, in any case, shall be the close of business on the day before the first notice
is mailed or otherwise sent to the shareholders, provided that in no event may a record date be more than 10 days before the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">VII</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Corporate <FONT STYLE="letter-spacing: -0.2pt">Seal</FONT></U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 7.95pt 0 0"><B>Section 1. Seal</B>. The seal of the association shall
be in such form as may be determined from time to time by the Board of Directors. The president, the treasurer, the secretary or any assistant
treasurer or assistant secretary, or other officer thereunto designated by the Board of Directors shall have authority to affix the corporate
seal to any document requiring such seal and to attest the same. The seal on any corporate obligation for the payment of money may be
<FONT STYLE="letter-spacing: -0.1pt">facsimile.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.2pt">VIII</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Miscellaneous <FONT STYLE="letter-spacing: -0.1pt">Provisions</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0"><B>Section 1. Fiscal Year</B>. The fiscal year of the association
shall be the calendar <FONT STYLE="letter-spacing: -0.1pt">year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 7.95pt 0 0"><B>Section 2. Execution of Instruments</B>. All agreements,
indentures, mortgages, deeds, conveyances, transfers, certificates, declarations, receipts, discharges, releases, satisfactions, settlements,
petitions, schedules, accounts, affidavits, bonds, undertakings, proxies and other instruments or documents may be signed, executed, acknowledged,
verified, delivered or accepted on behalf of the association by any officer elected or appointed pursuant to Article IV of these Bylaws.
Any such instruments may also be executed, acknowledged, verified, delivered or accepted on behalf of the association in such other manner
and by such other officers as the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 21.95pt 0 0">Board of Directors may from time to time direct. The provisions
of this Section 2 are supplementary to any other provision of these Bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 3. Records</B>. The Articles of Association, the
Bylaws and the proceedings of all meetings of the shareholders, the Board of Directors, and standing committees of the Board of Directors
shall be recorded in appropriate minute books provided for that purpose. The minutes of each meeting shall be signed by the secretary,
treasurer or other officer appointed to act as secretary of the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 23.25pt 0 0; text-align: justify"><B>Section 4. Corporate Governance Procedures.</B>
To the extent not inconsistent with federal banking statutes and regulations, or safe and sound banking practices, the association may
follow the Delaware General Corporation Law, Del. Code Ann. tit. 8 (1991, as amended 1994, and as amended thereafter) with respect to
matters of corporate governance <FONT STYLE="letter-spacing: -0.1pt">procedures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 12.25pt 0 0"><B>Section 5. Indemnification.</B> For purposes of this Section
5 of Article VIII, the term &ldquo;institution-affiliated party&rdquo; shall mean any institution-affiliated party of the association
as such term is defined in 12 U.S.C. 1813(u).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5pt 0 0">Any institution-affiliated party (or his or her heirs, executors
or administrators) may be indemnified or reimbursed by the association for reasonable expenses actually incurred in connection with any
threatened, pending or completed actions or proceedings and appeals therein, whether civil, criminal, governmental, administrative or
investigative, in accordance with and to the fullest extent permitted by law, as such law now or hereafter exists; provided, however,
that when an administrative proceeding or action instituted by a federal banking agency results in a final order or settlement pursuant
to which such person: (i) is assessed a civil money penalty, (ii) is removed from office or prohibited from participating in the conduct
of the affairs of the association, or (iii) is required to cease and desist from or to take any affirmative action described in 12 U.S.C.
1818(b) with respect to the association, then the association shall require the repayment of all legal fees and expenses advanced pursuant
to the next succeeding paragraph and may not indemnify such institution-affiliated parties (or their heirs, executors or administrators)
for expenses, including expenses for legal fees, penalties or other payments incurred. The association shall provide indemnification in
connection with an action or proceeding (or part thereof) initiated by an institution-affiliated party (or by his or her heirs, executors
or administrators) only if such action or proceeding (or part thereof) was authorized by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 5.55pt 0 0">Expenses incurred by an institution-affiliated party (or
by his or her heirs, executors or administrators) in connection with any action or proceeding under 12 U.S.C. 164 or 1818 may be paid
by the association in advance of the final disposition of such action or proceeding upon (a) a determination by the Board of Directors
acting by a quorum consisting of directors who are not parties to such action or proceeding that the institution-affiliated party (or
his or her heirs, executors or administrators) has a reasonable basis for prevailing on the merits, (b) a determination that the indemnified
individual (or his or her heirs, executors or administrators) will have the financial capacity to reimburse the association in the event
he or she does not prevail, (c) a determination that the payment of expenses and fees by the association will not adversely affect the
safety and soundness of the association, and (d) receipt of an undertaking by</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.95pt 6.35pt 0 0">or on behalf of such institution-affiliated party (or by
his or her heirs, executors or administrators) to repay such advancement in the event of a final order or settlement pursuant to which
such person: (i) is assessed a civil money penalty, (ii) is removed from office or prohibited from participating in the conduct of the
affairs of the association, or (iii) is required to cease and desist from or to take any affirmative action described in 12 U.S.C. 1818(b)
with respect to the association. In all other instances, expenses incurred by an institution-affiliated party (or by his or her heirs,
executors or administrators) in connection with any action or proceeding as to which indemnification may be given under the Articles of
Association may be paid by the association in advance of the final disposition of such action or proceeding upon (a) receipt of an undertaking
by or on behalf of such institution-affiliated party (or by or on behalf of his or her heirs, executors or administrators) to repay such
advancement in the event that such institution- affiliated party (or his or her heirs, executors or administrators) is ultimately found
not to be entitled to indemnification as authorized by these Bylaws and (b) approval by the Board of Directors acting by a quorum consisting
of directors who are not parties to such action or proceeding or, if such a quorum is not obtainable, then approval by shareholders. To
the extent permitted by law, the Board of Directors or, if applicable, the shareholders, shall not be required to find that the institution-affiliated
party has met the applicable standard of conduct provided by law for indemnification in connection with such action or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 3.45pt 0 0">In the event that a majority of the members of the Board of
Directors are named as respondents in an administrative proceeding or civil action and request indemnification, the remaining members
of the Board may authorize independent legal counsel to review the indemnification request and provide the remaining members of the Board
with a written opinion of counsel as to whether the conditions delineated in the first four paragraphs of this Section 5 of Article VIII
have been met. If independent legal counsel opines that said conditions have been met, the remaining members of the Board of Directors
may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 8.45pt 0 0">In the event that all of the members of the Board of Directors
are named as respondents in an administrative proceeding or civil action and request indemnification, the Board shall authorize independent
legal counsel to review the indemnification request and provide the Board with a written opinion of counsel as to whether the conditions
delineated in the first four paragraphs of this Section 5 of Article VIII have been met. If legal counsel opines that said conditions
have been met, the Board of Directors may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 10.1pt 0 0">To the extent permitted under applicable law, the rights
of indemnification and to the advancement of expenses provided in the Articles of Association (a) shall be available with respect to events
occurring prior to the adoption of these Bylaws, (b) shall continue to exist after any restrictive amendment of these Bylaws with respect
to events occurring prior to such amendment, (c) may be interpreted on the basis of applicable law in effect at the time of the occurrence
of the event or events giving rise to the action or proceeding, or on the basis of applicable law in effect at the time such rights are
claimed, and (d) are in the nature of contract rights which may be enforced in any court of competent jurisdiction as if the association
and the institution-affiliated party (or his or her heirs, executors or administrators) for whom such rights are sought were parties to
a separate written agreement.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.75pt 5.45pt 0 0">The rights of indemnification and to the advancement of
expenses provided in these Bylaws shall not, to the extent permitted under applicable law, be deemed exclusive of any other rights to
which any such institution-affiliated party (or his or her heirs, executors or administrators) may now or hereafter be otherwise entitled
whether contained in the association&rsquo;s Articles of Association, these Bylaws, a resolution of shareholders, a resolution of the
Board of Directors, or an agreement providing such indemnification, the creation of such other rights being hereby expressly authorized.
Without limiting the generality of the foregoing, the rights of indemnification and to the advancement of expenses provided in these Bylaws
shall not be deemed exclusive of any rights, pursuant to statute or otherwise, of any such institution-affiliated party (or of his or
her heirs, executors or administrators) in any such action or proceeding to have assessed or allowed in his or her favor, against the
association or otherwise, his or her costs and expenses incurred therein or in connection therewith or any part thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If this Section 5 of Article VIII or any part hereof shall be held unenforceable
in any respect by a court of competent jurisdiction, it shall be deemed modified to the minimum extent necessary to make it enforceable,
and the remainder of this Section 5 of Article VIII shall remain fully enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0">The association may, upon affirmative vote of a majority of
its Board of Directors, purchase insurance to indemnify its institution-affiliated parties to the extent that such indemnification is
allowed in these Bylaws; provided, however, that no such insurance shall include coverage for a final order assessing civil money penalties
against such persons by a bank regulatory agency. Such insurance may, but need not, be for the benefit of all institution- affiliated
parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">IX</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Inspection and <FONT STYLE="letter-spacing: -0.1pt">Amendments</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 3.45pt 0 0"><B>Section 1. Inspection</B>. A copy of the bylaws of the
association, with all amendments, shall at all times be kept in a convenient place at the main office of the association, and shall be
open for inspection to all shareholders during banking hours.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><B>Section 2. Amendments</B>. The Board of Directors shall have
the power, at any regular or special meeting thereof, to amend, alter or repeal the bylaws of the association, or to make and adopt new
bylaws. These Bylaws may be amended, altered or repealed and new bylaws may be adopted by the shareholders of the association to the extent
and as permitted in the Articles of Association or applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT 6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#9;<B>Section 321(b) Consent</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to Section 321(b) of the Trust Indenture Act of 1939, as amended,
Wilmington Trust, National Association hereby consents that reports of examinations by Federal, State, Territorial or District authorities
may be furnished by such authorities to the Securities and Exchange Commission upon requests therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -3.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -30pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: -30pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 51%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated: September 3, 2025</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;By:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>/s/
    Latoya S. Elvin</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Latoya S. Elvin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Vice President</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>EXHIBIT 7</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>R E P O R T O F C O N D I T I O N</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">As of the close of business on June 30, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="text-align: left; padding-left: 5.4pt">ASSETS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><B>Thousands of Dollars</B></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left; padding-left: 5.4pt">Cash and balances due from depository institutions:</TD><TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">612,124</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Silver">
    <TD STYLE="padding-left: 5.4pt">Securities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,105</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left; padding-left: 5.4pt">Loans and leases net of unearned income, allowance:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29,511</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,384</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left; padding-left: 5.4pt">Other real estate owned:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left; padding-left: 5.4pt">Investments in unconsolidated subsidiaries and associated companies:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left; padding-left: 5.4pt">Intangible assets:</TD><TD>&nbsp;</TD>
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    <TD STYLE="text-align: left; padding-left: 5.4pt">Other assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">64,391</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">Total Assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">734,515</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-family: Courier New, Courier, Monospace; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-family: Courier New, Courier, Monospace; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left; padding-left: 5.4pt">Other Liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">95,434</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">Total Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100,811</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-family: Courier New, Courier, Monospace; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-family: Courier New, Courier, Monospace; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-family: Courier New, Courier, Monospace; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">734,515</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<p style="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt; text-align: right">Ex-Filing Fees</p>

<p style="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: center">CALCULATION OF FILING FEE TABLES</p>

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<p style="font: bold 11pt Times New Roman, Times, Serif; border-top: Gray 3pt double; padding-top: 6pt; text-align: center; margin-top: 0pt; margin-bottom: 4pt">Table 1: Newly Registered and Carry Forward Securities</p>

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  <td>&#160;</td>
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  <td>&#160;</td>
  <td>&#160;</td>
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  <td>&#160;</td>
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  <td>&#160;</td>
  <td>&#160;</td>
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  <td>&#160;</td>
  <td>&#160;</td>
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  <td>&#160;</td>
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  <td>&#160;</td>
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  <td>&#160;</td>
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  <td>&#160;</td>
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  <td>&#160;</td>
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  <td style="text-align: right">&#160;</td>
  <td>&#160;</td>
  <td>$</td>
  <td style="text-align: right">&#160;</td>
  <td>&#160;</td>
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  <td style="width: 11%">&#160;</td>
  <td style="width: 1%">&#160;</td>
  <td style="width: 15%">&#160;</td>
  <td style="width: 1%">&#160;</td>
  <td style="width: 15%">&#160;</td>
  <td style="width: 1%">&#160;</td>
  <td style="width: 5%">&#160;</td>
  <td style="width: 1%">&#160;</td>
  <td style="width: 8%">&#160;</td>
  <td style="width: 1%">&#160;</td>
  <td style="width: 8%">&#160;</td>
  <td style="width: 1%">&#160;</td>
  <td style="width: 1%">&#160;</td>
  <td style="width: 5%">&#160;</td>
  <td style="width: 1%">&#160;</td>
  <td style="border-bottom: Black 1pt solid; width: 1%">&#160;</td>
  <td style="border-bottom: Black 1pt solid; width: 8%">&#160;</td>
  <td style="width: 1%">&#160;</td>
  <td style="width: 5%">&#160;</td>
  <td style="width: 1%">&#160;</td>
  <td style="border-bottom: Black 1pt solid; width: 1%">&#160;</td>
  <td style="border-bottom: Black 1pt solid; width: 8%">&#160;</td></tr>
<tr style="vertical-align: top; text-align: left">
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  <td>$</td>
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  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
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  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
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<tr style="vertical-align: top; text-align: left">
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  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
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  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
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<p style="font: bold 8pt Arial, Helvetica, Sans-Serif; color: rgb(50,101,255); margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<p style="font: bold 8pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt">__________________________________________<br/>
Offering Note(s)</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%">
<tr style="vertical-align: top; text-align: justify">
  <td style="width: 15pt; text-align: right">(1)</td><td style="width: 5pt"/>
  <td style="text-align: justify"><ix:nonNumeric name="ffd:OfferingNote" escape="1" contextRef="c_offering_1" id="ixv-481">Pursuant to Instruction 2.A.iii.c of Item 16(b) of Form S-3, this information is not required to be included. An indeterminate amount of the securities of each identified class is being registered as may from time to time be offered under this registration statement at indeterminate prices, along with an indeterminate number of securities that may be issued upon exercise, settlement, exchange or conversion of securities offered or sold under this registration statement. Pursuant to Rule 416 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), this registration statement also covers any additional securities that may be offered or issued in connection with any stock split, stock dividend or pursuant to anti-dilution provisions of any of the securities. Separate consideration may or may not be received for securities that are issuable upon conversion, exercise or exchange of other securities. In accordance with Rule 456(b) and 457(r) under the Securities Act, the registrant is deferring payment of all registration fees. Any subsequent registration fees will be paid on a pay-as-you-go basis.</ix:nonNumeric></td></tr>
  </table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%">
<tr style="vertical-align: top; text-align: justify">
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%">
<tr style="vertical-align: top; text-align: justify">
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%">
<tr style="vertical-align: top; text-align: justify">
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%">
<tr style="vertical-align: top; text-align: justify">
  <td style="width: 15pt; text-align: right">(5)</td><td style="width: 5pt"/>
  <td style="text-align: justify"><ix:nonNumeric name="ffd:OfferingNote" escape="1" contextRef="c_offering_5" id="ixv-335">a) See Note 1.<br/><br/>(b) Each depositary share will be issued under a deposit agreement, will represent an interest in a fractional share or multiple shares of preferred stock and will beevidenced by a depositary receipt.</ix:nonNumeric></td></tr>
  </table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%">
<tr style="vertical-align: top; text-align: justify">
  <td style="width: 15pt; text-align: right">(6)</td><td style="width: 5pt"/>
  <td style="text-align: justify"><ix:nonNumeric name="ffd:OfferingNote" escape="1" contextRef="c_offering_6" id="ixv-343">(a) See Note 1.<br/><br/>(b) The warrants covered by this registration statement may be warrants for common stock, preferred stock, depositary shares or debt securities.</ix:nonNumeric></td></tr>
  </table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%">
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  <td style="width: 15pt; text-align: right">(7)</td><td style="width: 5pt"/>
  <td style="text-align: justify"><ix:nonNumeric name="ffd:OfferingNote" escape="1" contextRef="c_offering_7" id="ixv-351">(a) See Note 1.<br/><br/>(b) Units may be issued under a unit agreement and will represent an interest in one or more securities registered under this registration statement including shares ofcommon stock or preferred stock, debt securities, depositary shares or warrants, in any combination, which may or may not be separable from one another.</ix:nonNumeric></td></tr>
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<span style="display: none;">v3.25.2</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Submission<br></strong></div></th>
<th class="th"><div>Sep. 03, 2025</div></th>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Central Index Key</a></td>
<td class="text">0001488813<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Registrant Name</a></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.2</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Offerings<br></strong></div></th>
<th class="th"><div>Sep. 03, 2025</div></th>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Voting Common Stock<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01531%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">Pursuant to Instruction 2.A.iii.c of Item 16(b) of Form S-3, this information is not required to be included. An indeterminate amount of the securities of each identified class is being registered as may from time to time be offered under this registration statement at indeterminate prices, along with an indeterminate number of securities that may be issued upon exercise, settlement, exchange or conversion of securities offered or sold under this registration statement. Pursuant to Rule 416 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), this registration statement also covers any additional securities that may be offered or issued in connection with any stock split, stock dividend or pursuant to anti-dilution provisions of any of the securities. Separate consideration may or may not be received for securities that are issuable upon conversion, exercise or exchange of other securities. In accordance with Rule 456(b) and 457(r) under the Securities Act, the registrant is deferring payment of all registration fees. Any subsequent registration fees will be paid on a pay-as-you-go basis.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=2', window );">Offering: 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Class B Non-Voting Common Stock<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01531%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">See Note 1.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=3', window );">Offering: 3</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Preferred Stock<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01531%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">See Note 1.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=4', window );">Offering: 4</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Debt<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Debt Securities<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01531%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">See Note 1.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=5', window );">Offering: 5</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Other<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Depositary Shares<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01531%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">a) See Note 1.<br/><br/>(b) Each depositary share will be issued under a deposit agreement, will represent an interest in a fractional share or multiple shares of preferred stock and will beevidenced by a depositary receipt.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=6', window );">Offering: 6</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Other<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Warrants<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01531%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">(a) See Note 1.<br/><br/>(b) The warrants covered by this registration statement may be warrants for common stock, preferred stock, depositary shares or debt securities.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=7', window );">Offering: 7</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Other<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Units<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01531%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">(a) See Note 1.<br/><br/>(b) Units may be issued under a unit agreement and will represent an interest in one or more securities registered under this registration statement including shares ofcommon stock or preferred stock, debt securities, depositary shares or warrants, in any combination, which may or may not be separable from one another.<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The rate per dollar of fees that public companies and other issuers pay to register their securities with the Commission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTitl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The title of the class of securities being registered (for each class being registered).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTitl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Type of securities: "Asset-backed Securities", "ADRs/ADSs", "Debt", "Debt Convertible into Equity", "Equity", "Face Amount Certificates", "Limited Partnership Interests", "Mortgage Backed Securities", "Non-Convertible Debt", "Unallocated (Universal) Shelf", "Exchange Traded Vehicle Securities", "Other"</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingTable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingTable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_PrevslyPdFlg</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_Rule457rFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 457<br> -Subsection r<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_Rule457rFlg</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=1</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=2</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=3</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=4</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=5</td>
</tr>
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<TYPE>XML
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<span style="display: none;">v3.25.2</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fees Summary<br></strong></div></th>
<th class="th">
<div>Sep. 03, 2025 </div>
<div>USD ($)</div>
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<td class="nump">0.00<span></span>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeesSummaryLineItems</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_NetFeeAmt</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlFeeAmt</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlOfferingAmt</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlOffsetAmt</td>
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        <measure>iso4217:USD</measure>
    </unit>
    <unit id="pure">
        <measure>pure</measure>
    </unit>
    <unit id="shares">
        <measure>shares</measure>
    </unit>
    <ffd:SubmissnTp contextRef="c_report" id="fee_001">S-3ASR</ffd:SubmissnTp>
    <ffd:FeeExhibitTp contextRef="c_report" id="fee_002">EX-FILING FEES</ffd:FeeExhibitTp>
    <dei:EntityCentralIndexKey contextRef="c_report" id="fee_003">0001488813</dei:EntityCentralIndexKey>
    <ffd:OfferingTableNa contextRef="c_report" id="fee_004" xsi:nil="true"/>
    <ffd:OffsetTableNa contextRef="c_report" id="fee_005">N/A</ffd:OffsetTableNa>
    <ffd:CombinedProspectusTableNa contextRef="c_report" id="fee_006">N/A</ffd:CombinedProspectusTableNa>
    <ffd:FormTp contextRef="c_report" id="fee_007">S-3</ffd:FormTp>
    <dei:EntityRegistrantName contextRef="c_report" id="fee_008">Customers Bancorp, Inc.</dei:EntityRegistrantName>
    <ffd:PrevslyPdFlg contextRef="c_offering_1" id="fee_009">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="c_offering_1" id="fee_010">Equity</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c_offering_1" id="fee_011">Voting Common Stock</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="c_offering_1" id="fee_012">true</ffd:Rule457rFlg>
    <ffd:FeeRate
      contextRef="c_offering_1"
      decimals="INF"
      id="fee_013"
      unitRef="pure">0.0001531</ffd:FeeRate>
    <ffd:PrevslyPdFlg contextRef="c_offering_2" id="fee_014">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="c_offering_2" id="fee_015">Equity</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c_offering_2" id="fee_016">Class B Non-Voting Common Stock</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="c_offering_2" id="fee_017">true</ffd:Rule457rFlg>
    <ffd:FeeRate
      contextRef="c_offering_2"
      decimals="INF"
      id="fee_018"
      unitRef="pure">0.0001531</ffd:FeeRate>
    <ffd:PrevslyPdFlg contextRef="c_offering_3" id="fee_019">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="c_offering_3" id="fee_020">Equity</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c_offering_3" id="fee_021">Preferred Stock</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="c_offering_3" id="fee_022">true</ffd:Rule457rFlg>
    <ffd:FeeRate
      contextRef="c_offering_3"
      decimals="INF"
      id="fee_023"
      unitRef="pure">0.0001531</ffd:FeeRate>
    <ffd:PrevslyPdFlg contextRef="c_offering_4" id="fee_024">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="c_offering_4" id="fee_025">Debt</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c_offering_4" id="fee_026">Debt Securities</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="c_offering_4" id="fee_027">true</ffd:Rule457rFlg>
    <ffd:FeeRate
      contextRef="c_offering_4"
      decimals="INF"
      id="fee_028"
      unitRef="pure">0.0001531</ffd:FeeRate>
    <ffd:PrevslyPdFlg contextRef="c_offering_5" id="fee_029">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="c_offering_5" id="fee_030">Other</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c_offering_5" id="fee_031">Depositary Shares</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="c_offering_5" id="fee_032">true</ffd:Rule457rFlg>
    <ffd:FeeRate
      contextRef="c_offering_5"
      decimals="INF"
      id="fee_033"
      unitRef="pure">0.0001531</ffd:FeeRate>
    <ffd:PrevslyPdFlg contextRef="c_offering_6" id="fee_034">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="c_offering_6" id="fee_035">Other</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c_offering_6" id="fee_036">Warrants</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="c_offering_6" id="fee_037">true</ffd:Rule457rFlg>
    <ffd:FeeRate
      contextRef="c_offering_6"
      decimals="INF"
      id="fee_038"
      unitRef="pure">0.0001531</ffd:FeeRate>
    <ffd:PrevslyPdFlg contextRef="c_offering_7" id="fee_039">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="c_offering_7" id="fee_040">Other</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c_offering_7" id="fee_041">Units</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="c_offering_7" id="fee_042">true</ffd:Rule457rFlg>
    <ffd:FeeRate
      contextRef="c_offering_7"
      decimals="INF"
      id="fee_043"
      unitRef="pure">0.0001531</ffd:FeeRate>
    <ffd:TtlOfferingAmt
      contextRef="c_report"
      decimals="INF"
      id="ixv-477"
      unitRef="USD">0.00</ffd:TtlOfferingAmt>
    <ffd:TtlFeeAmt
      contextRef="c_report"
      decimals="INF"
      id="ixv-478"
      unitRef="USD">0.00</ffd:TtlFeeAmt>
    <ffd:TtlOffsetAmt
      contextRef="c_report"
      decimals="INF"
      id="ixv-479"
      unitRef="USD">0.00</ffd:TtlOffsetAmt>
    <ffd:NetFeeAmt
      contextRef="c_report"
      decimals="INF"
      id="ixv-480"
      unitRef="USD">0.00</ffd:NetFeeAmt>
    <ffd:OfferingNote contextRef="c_offering_1" id="ixv-481">Pursuant to Instruction 2.A.iii.c of Item 16(b) of Form S-3, this information is not required to be included. An indeterminate amount of the securities of each identified class is being registered as may from time to time be offered under this registration statement at indeterminate prices, along with an indeterminate number of securities that may be issued upon exercise, settlement, exchange or conversion of securities offered or sold under this registration statement. Pursuant to Rule 416 under the Securities Act of 1933, as amended (the &#x201c;Securities Act&#x201d;), this registration statement also covers any additional securities that may be offered or issued in connection with any stock split, stock dividend or pursuant to anti-dilution provisions of any of the securities. Separate consideration may or may not be received for securities that are issuable upon conversion, exercise or exchange of other securities. In accordance with Rule 456(b) and 457(r) under the Securities Act, the registrant is deferring payment of all registration fees. Any subsequent registration fees will be paid on a pay-as-you-go basis.</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c_offering_2" id="ixv-482">See Note 1.</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c_offering_3" id="ixv-483">See Note 1.</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c_offering_4" id="ixv-484">See Note 1.</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c_offering_5" id="ixv-335">a) See Note 1.&lt;br/&gt;&lt;br/&gt;(b) Each depositary share will be issued under a deposit agreement, will represent an interest in a fractional share or multiple shares of preferred stock and will beevidenced by a depositary receipt.</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c_offering_6" id="ixv-343">(a) See Note 1.&lt;br/&gt;&lt;br/&gt;(b) The warrants covered by this registration statement may be warrants for common stock, preferred stock, depositary shares or debt securities.</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c_offering_7" id="ixv-351">(a) See Note 1.&lt;br/&gt;&lt;br/&gt;(b) Units may be issued under a unit agreement and will represent an interest in one or more securities registered under this registration statement including shares ofcommon stock or preferred stock, debt securities, depositary shares or warrants, in any combination, which may or may not be separable from one another.</ffd:OfferingNote>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
