Bancorp Stock Price, News & Analysis

The Bancorp, Inc. (NASDAQ: TBBK) announces a new Conventional Loan Program tailored for the funeral industry, developed in partnership with Homesteaders Life Company. This program aims to provide financing for acquiring and refinancing multi-unit funeral home businesses nationwide. Jeff Nager, EVP of Commercial Lending, emphasizes the program's streamlined processes and larger financing options. Steve Shaffer, CEO of Homesteaders, states that the program addresses a significant gap in the market, aiming to support the long-term success of funeral professionals.

Global Rewards has announced a partnership with The Bancorp (NASDAQ:TBBK) to enhance corporate disbursement and employee spending solutions. This collaboration aims to provide clients with real-time visibility into spending, thus improving their financial management. The Bancorp, a leader in prepaid card issuance with over $300 billion in annual payment processing, will support Global Rewards in delivering innovative solutions tailored to their customers' needs. The partnership is expected to strengthen Global Rewards' growth and operational efficiency.

The Bancorp, Inc. (NASDAQ: TBBK) reported Q4 2021 financial results with a net income of $27.0 million or $0.46 diluted EPS, up from $24.2 million or $0.41 diluted EPS in Q4 2020. The company's return on assets and equity were 1.7% and 17%, respectively. Total loans surged 41% to $3.75 billion. Net interest income slightly increased to $52.2 million, despite a dip in net interest margin to 3.51%. The Bank remains well-capitalized, with book value per share rising 13% to $11.37. The Bancorp reaffirmed its 2022 guidance of $2.15 per share.

The Bancorp, Inc. (TBBK) will announce its fourth quarter and fiscal 2021 financial results after market hours on January 27, 2022. Investors are invited to join the earnings results conference call on January 28, 2022, at 8:00 a.m. ET. The call can be accessed via webcast on The Bancorp's website or by dialing 844.775.2543 (access code 7390458). A replay will be available until February 4, 2022. The Bancorp provides financial solutions through its subsidiaries, serving a diverse range of clients.

The Bancorp, Inc. (NASDAQ: TBBK) announced the appointment of Cheryl Creuzot to its Board of Directors, effective November 1, 2021. This follows the retirement of Daniel G. Cohen and the election of James J. McEntee III as Chairman. Creuzot, President Emeritus of Wealth Development Strategies, has extensive board experience, including roles at Amegy Bank and Unity National Bank. Her leadership is expected to enhance The Bancorp's strategic growth. CEO Damian Kozlowski expressed confidence in her contributions to the company's future.

XTM, Inc. reported a strong performance in Q3 2021, achieving a 117% revenue increase to $862K compared to $397K in Q2 and a 327% increase over Q3 2020. The company saw significant customer acquisition, adding 334 new locations, a 185% increase from Q2. Gross Dollar Value (GDV) loaded on the platform rose 111% to over $48MM. Key partnerships were established, including with The Bancorp, Inc. for banking services. Overall, the company is experiencing rapid growth in user engagement and financial performance.

XTM, Inc. (QB:XTMIF / CSE:PAID) has announced a partnership with The Bancorp, Inc. (NASDAQ:TBBK) to provide back-end banking services and card issuing sponsorship for its instant employee payout solution tailored to the hospitality and personal care industries in the U.S.

The partnership aims to launch the Today™ Program in Q4, featuring various banking solutions such as Visa debit, ACH, direct deposits, and surcharge-free ATMs. XTM’s CEO Marilyn Schaffer highlighted The Bancorp as a leading choice for innovative banking support.

The Bancorp, Inc. (TBBK) reported a net income of $28.3 million or $0.48 diluted EPS for Q3 2021, reflecting a year-over-year increase from $23.3 million or $0.40 EPS. Return on assets and equity improved to 1.8% and 18%, respectively. Net interest income rose to $50.9 million, while net interest margin was 3.35%. The company projected $2.15 EPS guidance for 2022, indicating a 21% growth from current guidance. The Bancorp also repurchased 440,887 shares at an average cost of $22.68.

The Bancorp has announced plans to expand its office space as the anchor tenant of the new Cherapa Place development in Sioux Falls, South Dakota. The new building will consist of 50,000 square feet across the top three floors, featuring retail and upscale condos. This expansion aligns with the growth of its Fintech Solutions unit and signals a commitment to the Sioux Falls community. The project, set for completion in 2023, aims to attract high-quality talent and enhance employee experience.