The Bancorp (TBBK) Registration Filing summary

Company overview and business model

• Operates as a Delaware financial holding company with a primary focus on fintech activities, including payments, related deposits, and credit sponsorship.

• Generates most revenue and income through its wholly owned banking subsidiary, with specialty lending in institutional banking, commercial real estate bridge lending, small business lending, and commercial fleet leasing.

• Fintech segment provides consumer transaction accounts accessed by prepaid or debit cards, ACH accounts, and merchant acquiring services.

• As of June 30, 2025, key loan portfolios included $1.60B in SBLOC/IBLOC, $698.1M in direct lease financing, $1.05B in SBLs, $2.14B in real estate bridge loans, and $680.5M in consumer fintech loans.

• Investment portfolio stood at $1.48B as of June 30, 2025.

Financial performance and metrics

• As of June 30, 2025, total liabilities (including deposits) were approximately $7.98B.

• Cash and cash equivalents were $340.3M actual and $439.9M as adjusted for the offering.

• Senior debt was $96.4M actual and $196M as adjusted; total capitalization increased from $983.96M to $1.08B post-offering.

Use of proceeds and capital allocation

• Net proceeds from the Senior Notes (estimated at $200M principal) will be used to redeem or repay $100M of 4.75% Senior Notes due August 15, 2025, fund the share repurchase program, and for general corporate purposes, including capital to support bank growth.