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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K/A
(Amendment No. 4)
Current Report
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 26, 2024
The Bancorp, Inc.
(Exact name of registrant as specified in its charter)
Commission File Number: 000-51018
| Delaware |
|
23-3016517 |
|
(State or other jurisdiction of
incorporation) |
|
(IRS Employer
Identification No.) |
409 Silverside Road
Wilmington, DE 19809
(Address of principal executive offices, including
zip code)
302-385-5000
(Registrant’s telephone number, including
area code)
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[_] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
|
Trading
Symbol(s) |
|
Name of each exchange on which registered |
| Common Stock, par value $1.00 per share |
|
TBBK |
|
Nasdaq Global Select |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
[_] Emerging growth company
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. [ ]
Item 8.01. Other Events
The
Bancorp, Inc. (the “Company”) is providing an update on the pending disposition of a certain real estate bridge lending asset. The
majority of the Company’s “Other Real Estate Owned” property is comprised of an apartment complex. The underlying balance
for this property is $42.9 million as of June 30, 2025.
As
previously disclosed, the property was under an agreement of sale. On June 24, 2025, the Company terminated the agreement of sale
for the property and demanded the escrow agent release to Company all earnest money deposits received to date, totaling $3.0 million. On June
26, 2025, without providing any legal or contractual basis to do so, the purchaser objected to the release of the earnest money deposits.
The Company believes it is entitled to the earnest money deposits and intends to pursue release of the funds.
Cautionary
Statement Regarding Forward-Looking Statements
This
Current Report on Form 8-K/A may contain “forward-looking” statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements provide management’s
current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical
or current fact. Sentences containing words such as “believe,” “intend,” “plan,” “may,”
“expect,” “should,” “could,” “anticipate,” “estimate,” “predict,”
“project,” or their negatives, or other similar expressions of a future or forward-looking nature generally should be considered
forward-looking statements. Forward-looking statements in this Current Report are based on management’s current expectations and
assumptions about future events that involve inherent risks and uncertainties and may concern, among other things, the Company’s
expectations related to the consideration in connection with the termination of the agreement. While the Company considers these expectations
and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks
and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. The Company undertakes
no obligation to review or update any forward-looking statements, whether as a result of new information, future events or otherwise,
unless required by law.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: June 30, 2025 |
The Bancorp, Inc. |
| |
|
|
| |
By: |
/s/ Erika Caesar |
| |
Name: |
Erika Caesar |
| |
Title: |
EVP, General Counsel and Corporate Secretary |
