SEC Filings

Wellington-Addressed Bay Pond Partners Reports 5.1% Passive Stake In Customers Bancorp

A Schedule 13G lists 1,708,659 shares and says none were bought to influence control of the bank holding company.

Matteo Parrino Jonathan Ponciano

Matteo Parrino, Jonathan Ponciano

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Wellington-Addressed Bay Pond Partners Reports 5.1% Passive Stake In Customers Bancorp

Bay Pond Partners, L.P. reported owning 1,708,659 shares of Customers Bancorp common stock, or 5.1% of the class, in a Schedule 13G filed Thursday. A 13G is the SEC's passive ownership disclosure for holders above 5%.

What the filing says

The filing lists the percentage as 5.06% and gives October 2 as the date of the triggering event. Bay Pond is a Delaware limited partnership, and its address is c/o Wellington Management Company LLP, 280 Congress Street, Boston.

Voting power is entirely shared: the filing shows sole voting power over 0 shares and shared voting power over all 1,708,659. The issuer is Customers Bancorp, based at 701 Reading Avenue, West Reading, Pennsylvania.

The signed certification says the shares were not acquired and are not held to change or influence control of the issuer, or in connection with any transaction with that purpose or effect.

What it changes

The filing puts a named holder above the 5% line in a passive position. It describes no plan to seek control, and it is not an activist investor disclosure.

Customers Bancorp shares closed at $74.15 at Wednesday's close, down 1.13% from $75.00 in the prior session, a move that came before Thursday's filing. The company's market capitalization was $2.5 billion, according to market data.

The filing's own numbers define the position: 1,708,659 shares, 5.06% of the class, all with shared voting power.

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