Bancorp, Inc.

Listed Company

TBBKCIK 0001295401NasdaqLarge AcceleratedNational Commercial BanksDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$228.21M

Total Assets

$9.35B

Equity

$689.80M

Shares Out

42.19M

Op. Cash Flow

$265.01M

Business

Bancorp, Inc. is a Delaware financial holding company whose primary business is banking and specialty finance driven principally through its wholly owned subsidiary, The Bancorp Bank. It offers payments and fintech services, card issuing and processing, ACH and bill payment services, deposit accounts, specialty lending products and consumer fintech loans. Its key business segments include Fintech Solutions (payments, card-accessed deposits and credit sponsorship), Institutional Banking (securities- and insurance-backed lines and advisor financing) and national specialty lending (commercial real estate bridge loans, SBA and lease financing). The company serves customers across the United States through affinity and private-label relationships with fintech firms, payment processors, benefits administrators and other third-party partners.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	448	459	437	276	193
Taxable interest	76	66	39	26	29
Tax-exempt interest	387,000	187,000	153,000	98,000	103,000
Interest-earning deposits	27	26	34	7	715,000
Total interest income	551	552	510	308	222
Deposits	163	164	149	51	6
Short-term borrowings	2	2	271,000	2	49,000
Long-term borrowings	784,000	2	507,000	1	5
Senior debt	9	5	5	5	5
Subordinated debentures	1	1	1	658,000	449,000
Total interest expense	176	175	155	59	—
Net interest income	376	376	354	249	211
Provision for credit losses on non-fintech loans	9	9	8	—	—
Provision for credit losses on fintech loans	169	31	—	—	—
Provision reversal for unfunded commitments	−582,000	−596,000	−135,000	1	—
Provision (reversal) for credit loss on security	—	−1	10	—	—
Provision for credit losses, total	178	38	18	—	—
Net interest income after provision (reversal) for credit losses	198	338	336	242	208
Total fintech fees	141	117	99	86	8
Net realized and unrealized gains on commercial loans, at fair value	2	3	4	14	15
Leasing related income	7	4	6	5	6
Fintech loan credit enhancement	169	31	—	—	—
Other	9	3	3	1	1
Total non-interest income	328	158	112	106	105
Salaries and employee benefits	143	132	121	105	106
Depreciation	5	4	3	3	—
Rent and related occupancy cost	6	7	6	5	5
Data processing expense	5	6	5	5	5
Audit expense	2	1	2	2	1
Legal expense	7	3	4	4	7
Legal settlements	2	284,000	—	1	—
FDIC Insurance	5	4	3	3	6
Software	21	18	17	16	16
Insurance	5	5	5	5	4
Telecom and IT network communications	1	1	1	1	2
Consulting	2	2	2	1	1
Other	21	20	21	16	13
Total non-interest expense	223	203	191	170	168
Income before income taxes	303	292	257	178	144
Income tax expense	75	75	64	48	34
Net income	228	218	192	130	111
Earnings per share - basic	4.99	4.35	3.52	2.3	1.93
Earnings per share - diluted	4.92	4.29	3.49	2.27	1.88
Weighted average shares - basic	46	50	55	57	57
Weighted average shares - diluted	46	51	55	57	59

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-03-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and due from banks	8	6	—	5	24
Interest-earning deposits	105	564	—	1,033	864
Total cash and cash equivalents	113	570	—	1,038	888
Investment securities, available-for-sale, at fair value	1,672	1,503	—	748	766
Commercial loans, at fair value	139	223	—	333	589
Loans, net of deferred loan fees and costs	7,117	6,114	—	5,361	5,487
Allowance for credit losses	−66	−45	—	−27	−22
Loans, net	7,050	6,069	—	5,334	5,464
Stock in Federal Reserve, Federal Home Loan and Atlantic Central Bankers Banks	25	16	—	16	13
Premises and equipment, net	30	28	—	27	18
Accrued interest receivable	43	42	—	38	32
Other real estate owned	61	62	41	17	21
Deferred tax asset, net	19	19	—	21	20
Credit enhancement asset	31	13	—	—	—
Other assets	170	184	—	133	89
Total assets	9,352	8,728	—	7,706	7,903
Demand and interest checking	7,827	7,434	—	6,630	6,560
Savings and money market	338	312	—	51	140
Total deposits	8,165	7,746	—	6,681	7,030
Short-term borrowings	199	—	—	—	—
Senior debt	196	96	—	96	99
Subordinated debentures	13	13	—	13	13
Other long-term borrowings	14	14	—	39	10
Other liabilities	75	68	—	70	56
Total liabilities	8,663	7,938	—	6,898	7,209
Commitments and contingencies (Note 14)	—	—	—	—	—
Common stock - authorized, 75,000,000 shares of $1.00 par value; 48,404,006 and 42,355,361 shares issued and outstanding, respectively, at December 31, 2025 and 47,713,481 and 47,310,750 shares issued and outstanding, respectively, at December 31, 2024	48	48	—	53	56
Additional paid-in capital	24	3	—	212	299
Retained earnings	1,007	779	—	562	369
Accumulated other comprehensive income (loss)	11	−18	—	−20	−30
Treasury stock at cost, 6,048,645 shares at December 31, 2025 and 402,731 shares at December 31, 2024	−401	−23	—	—	—
Total shareholders' equity	690	790	—	807	694
Total liabilities and shareholders' equity	9,352	8,728	—	7,706	7,903

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
(Accretion) amortization of fees, premiums, and discounts, net	−8	−3	1	2	3
Stock-based compensation expense	20	15	11	8	9
Realized gains on commercial loans, at fair value	−2	−4	−7	−19	−13
Deferred income tax (benefit) expense	−9	2	−6	6	1
Gain on sale of fixed assets	−2,000	−53,000	—	—	—
Gain on sale of other real estate owned	−754,000	—	—	—	315,000
Write-down of other real estate owned	—	—	1	—	—
Change in fair value of commercial loans, at fair value	—	683,000	3	6	2
Change in fair value of derivatives	—	284,000	124,000	−961,000	−2
Loss on sales of investment securities	—	2,000	4,000	6,000	7,000
Increase in accrued interest receivable	−1	−4	−6	−14	3
Decrease (increase) in other assets	18	−26	−38	−1	−17
Increase (decrease) in other liabilities	7	−1	13	−7	−18
Net cash provided by operating activities	265	210	187	120	84
Purchase of investment securities available-for-sale	−434	−991	−49	−24	−259
Proceeds from redemptions and prepayments of securities available-for-sale	305	243	71	161	492
Sale of repossessed assets	3	11	8	2	910,000
Proceeds from sale of other real estate owned	6	2	6	2	300,000
Net (increase) decrease in loans	−1,172	−875	142	−1,679	−1,096
Credit enhancement agreement cash inflows	151	18	—	—	—
Capitalized investment in other real estate owned	−2	−2	—	—	—
Commercial loans, at fair value drawn during the period	−4	—	−134	−66	−128
Payments on commercial loans, at fair value	89	110	384	782	645
Proceeds from sale of fixed assets	174,000	133,000	—	—	—
Purchases of premises and equipment	−7	−5	−13	−5	−2
Net cash (used in) provided by investing activities	−1,064	−1,491	415	−827	−306
Net increase (decrease) in deposits	419	1,065	−349	1,053	515
Net decrease in securities sold under agreements to repurchase	—	−42,000	—	—	—
Proceeds from short-term borrowings	199	—	—	—	—
Proceeds of senior debt offering, net	196	—	—	—	—
Redemption of senior debt maturity	−96	—	−3	—	—
Proceeds from the issuance of common stock	2	—	104,000	320,000	3
Repurchases of common stock and excise tax	−378	−252	−100	−60	−40
Net cash provided (used in) by financing activities	342	813	−452	994	478
Net (decrease) increase in cash and cash equivalents	−457	−468	150	286	256
Interest paid	173	174	156	58	12
Taxes paid	76	81	83	38	44
Transfers to other real estate owned from commercial loans, at fair value, and loans, net	2	45	3	—	—
Leased vehicles transferred to repossessed assets	3	10	9	2	1

Filings

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