Former Sovereign CFO Joins Sidhu at New Century Bank

PHOENIXVILLE, Pa., Aug. 6 /PRNewswire-FirstCall/ -- New Century Bank dba Customers USA Bank(SM) and its USA Bank division today announced the appointment of James Hogan, CPA as Executive Vice President and Director of Enterprise Risk Management.  Hogan at his last active position served as Chief Financial Officer of Sovereign Bancorp, Inc. and Sovereign Bank.  Prior to joining Sovereign in 2001, Hogan served as Controller of Star Bank, which merged with U.S. Bancorp.

"We are delighted to have Jim Hogan join us," stated Sidhu. "Jim brings to our Bank over 40 years of financial and risk management, as well as mergers and acquisition, experience.  We believe in incorporating best of class risk management practices at our Bank and Jim will be responsible for coordinating that effort."  Hogan will also closely work with Dan Rothermel, a former Sovereign Bancorp director who now serves as the Bank's Lead Director and Chairman of the Board's Risk Management Committee.

New Century Bank dba Customers USA Bank(SM) is a $800 million asset community bank with nine offices in Southeastern Pennsylvania and an office in Port Chester, New York operated by its USA Bank division which services the Greenwich, Connecticut, Port Chester & Rye communities of New York.

"Safe Harbor" Statement

In addition to historical information, this information may contain "forward-looking statements" which are made in good faith by the Bank, pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements include statements with respect to the Bank's strategies, goals, beliefs, expectations, estimates, intentions, financial condition, results of operations, future performance and business.  Statements preceded by, followed by or that include the words "may," "could," "should," "pro forma," "looking forward," "would,"  "believe," "expect," "anticipate," "estimate," "intend," "plan," or similar expressions generally indicate a forward-looking statement.  These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond the Bank's control).  Numerous competitive, economic, regulatory, legal and technological factors, among others, could cause the Bank's financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements.  The Bank cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact that any future acquisition may have on the Bank and any such forward-looking statement.  The Bank does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by or on behalf of the Bank.

SOURCE Customers USA Bank

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