Company Summary: The Bancorp, Inc.

Overview:
The Bancorp, Inc. is a Delaware-based financial holding company primarily engaged in fintech-related banking activities. Its main subsidiary is The Bancorp Bank, a federally regulated, insured commercial bank.

Core Business Activities:

• Fintech Banking & Payment Solutions:

  • Provides financial products and services via internet-based platforms without physical branches.
  • Focuses on partnerships with fintech companies, benefits administrators, and third-party marketers.
  • Offers a range of deposit accounts (checking, savings, money market, prepaid, and debit/credit accounts).
  • Provides payment processing services, including card issuing, ACH, and card payment settlements through Visa, Mastercard, and Discover network-branded cards.
  • Acts as a depository institution for merchants and payment companies, facilitating electronic transactions and payment processing.

• Specialty Lending Segment:

  • Institutional banking including securities-backed lines of credit (SBLOCs) and insurance policy cash value-backed lines (IBLOCs).
  • Commercial real estate bridge loans (REBLs).
  • Small Business Loans (SBLs), mainly SBA 7(a) and 504 programs, for financing business expansion, real estate, equipment, and refinancing.
  • Consumer fintech loans initiated in 2024, covering secured credit card loans, fixed-term loans, payroll advances, etc.
  • Lease financing for commercial vehicle fleets and equipment, both open-end and closed-end leases.
  • Real estate loans, including transitional commercial mortgage loans (REBLs) acquired for holding on balance sheets or future securitizations.

Financial Data & Scale (as of December 31, 2024):

• Total Loans & Commercial Loans:

  • SBLOC & IBLOC: $1.56 billion (about 25% of total loans)
  • Investor advisor financing: $273.9 million (~4%)
  • Direct lease financing: $700.6 million (~11%)
  • Commercial real estate bridge loans (excluding SBA): $133.2 million (~2%)
  • Real estate bridge loans (REBL): $2.11 billion (~33%)
  • SBLs (including SBA at fair value): $987.0 million (~16%)
  • Consumer fintech loans: $454.4 million (~7%)
  • Other loans: $111.3 million (~2%)
  • Total loans (all categories combined): Not explicitly given, but a significant portion dedicated to real estate, specialized lending, and consumer fintech.

• Investment Portfolio:

  • $1.50 billion at December 31, 2024, reflecting increased holdings, mainly of commercial real estate loans held for investment.

• Employees:

  • 771 full-time employees as of December 31, 2024.

• Customers & Relationships:

  • Partners with numerous affinity groups, investment advisors, and fintech clients.
  • Major relationships include top client accounts representing large portions of deposit and fee income; for example, in 2024, the top three affinity groups held approximately $3.79 billion in deposits.

• Stock Information:

  • Shares Outstanding: 48,067,178 as of February 24, 2025.
  • Market Capitalization (based on $37.76 per share as of June 30, 2024): approximately $1.78 billion.

Revenue & Income:

• The specific revenue, net income, or profitability figures are not explicitly provided in the summary document.
• The company's principal income streams include non-interest income from payment processing fees, interchange fees from card services, deposit account fees, and interest income from lending activities.

Summary:
The Bancorp, Inc. operates as a fintech-focused bank offering deposit, payments, and specialized lending products through its proprietary infrastructure and strategic partnerships, serving a broad base of fintech companies, affinity groups, and small-to-mid size business clients. As of 2024, it employs over 770 staff, manages hundreds of millions in loans and deposits, and has a market value nearing $1.78 billion.