Bancorp Inc (OQ:TBBK)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 409 Silverside Road WILMINGTON DE 19809 |
| Tel: | N/A |
| Website: | https://www.thebancorp.com |
| IR: | See website |
| Key People | ||
| Damian M. Kozlowski Chief Executive Officer, Director; President, Director of the Bank | Paul Frenkiel Chief Financial Officer, Chief Accounting Officer, Secretary | Gregor Garry Chief Operating Officer, Executive Vice President |
| Mark L. Connolly Executive Vice President, Head - Credit Markets, Chief Credit Officer | Thomas G. Pareigat General Counsel | Olek Derowe Head of Commercial Real Estate for The Bancorp |
| Ryan Harris Head of Fintech Solutions of The Bancorp | John Leto Head of Institutional Banking at Bancorp | Jeff Nager Head of Commercial Lending at The Bancorp |
| Business Overview |
| The Bancorp, Inc. is a financial holding company. The Company's segments include Specialty Finance and Payments. Its primary lines of specialty lending include securities-backed lines of credit (SBLOC) and cash value of insurance-backed lines of credit (IBLOC), leasing (direct lease financing), Small Business Administration (SBA) loans and non-SBA commercial real estate (CRE) loans. Its SBLOCs and IBLOCs are loans which are generated through institutional banking affinity groups and are respectively collateralized by marketable securities and the cash value of insurance policies. It offers investment advisor financing to investment advisors. The Company also offers small business loans (SBL), which are comprised primarily of SBA loans and vehicle fleet and, to a lesser extent, other equipment leasing to small and medium sized businesses. Its SBLOCs and IBLOCs are offered in conjunction with brokerage accounts. The Company's subsidiary is The Bancorp Bank, National Association. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Bancorp Inc interest income increased 65% to $509.5M. Net interest income after loan loss provision increased 39% to $335.7M. Net income increased 48% to $192.3M. Net interest income after loan loss provision reflects Specialty finance segment increase of 38% to $287M, Corporate segment increase of 99% to $41.6M, Net Interest Margin, Total -% increase of 39% to 4.95%. |
| Employees: | 757 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $1,859M as of Dec 31, 2023 |
| Annual revenue (TTM): | $509.51M as of Dec 31, 2023 |
| EBITDA (TTM): | $271.83M as of Dec 31, 2023 |
| Net annual income (TTM): | $192.30M as of Dec 31, 2023 |
| Free cash flow (TTM): | $174.03M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $143.04M as of Dec 31, 2023 |
| Shares outstanding: | 52,253,037 as of Apr 2, 2024 |
| Index Membership: | S&P 600 Small Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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